Do you need to send money securely and privately to anyone in the world? Wise com could be a promising option since it is a much cheaper alternative to established banks. However, there’s an important aspect to sending money, namely privacy. Let’s find out how to make your payments safe and private using our best solution.
What is Wise.com?
Founded in 2011 as TransferWise, Wise.com is a London-based financial company launched by Estonian businessman Taavet Hinriku, who is also known as Skype's first employee.
Wise was launched with a mission to make international money transfers faster, cheaper, and easier. It aims to constantly drive down costs until it’s free to make a cross-border transfer. Wise is trusted by more than 12 million happy customers and sends roughly 8 billion dollars monthly to 80+ countries around the globe.
Is It Safe to Trust Your Money With Wise.com?
Yes. Wise.com is an authorized Electronic Money Institution that is regulated independently by the Financial Conduct Authority (FCA) in the UK. Wise.com believes in fairness and transparency and makes sure to build a product that is truly better for its customers. Wise com works with an independent research company to regularly conduct price-comparison studies. Researchers see the data across multiple countries and currencies, to make sure its price claims are fair and accurate.
Wise.com is regulated by the NBB and holds customers’ money with established financial institutions, separate from its own accounts. As Wise is not a bank, the customer’s money is not FSCS protected. Therefore, Wise.com is regularly audited to ensure all the money is safe and secure, and that Wise remains financially stable.
- Wise uses Two-Factor Authentication to protect accounts and transactions. It is committed to keeping users’ personal data safe and being transparent in how it collects, processes, and stores that data. Wise’s dedicated anti-fraud group works 24/7 to keep accounts and money protected from fraud.
- However, no matter how safe and reliable your payment solution claims to be, your ISP can track your transactions. Your Internet service provider is always able to monitor your online activities unless you use a good VPN.
Make Your Online Transactions Private
In the name of improving user experience, ISPs often track their users’ online activities. But sometimes they sell user data to advertisers and illegally profit from it. Your ISP also tracks you online to see if you exploit your bandwidth and thus “throttle” your connection. This would potentially push you to upgrade to a more pricey data package.
Privacy is an essential aspect of online security. Using a reliable VPN allows you to mask your actual IP address and go online undetected. VPN Unlimited materializes your online privacy while you’re sending money on Wise.