We offer Interest and Stocks as part of our Assets product
If you’re in the EEA
What happens if Wise becomes insolvent?
Wise Assets (offered by Wise Assets Europe AS, an investment subsidiary of Wise) holds customers’ fund units segregated from any corporate assets. In the unlikely event of Wise (or Wise Assets Europe AS) becoming insolvent, your assets are held separately from any of Wise’s other corporate assets. Insolvency practitioners would not be permitted to use any of these assets to cover outstanding debts.
Internally, we keep detailed records of all our customers’ investments. This information is reviewed and reconciled each business day. If Wise (or Wise Assets Europe AS) becomes insolvent, we would have clear records that show the amount of assets that belong to each customer. This would enable the insolvency practitioner to identify all assets that belong to you and make sure your assets are returned to you or transferred to a different provider.
All of the processes described above are in line with the Estonian regulations applicable to regulated investment service providers. We are also subject to an annual external audit, an external inspection to assess if we operate in line with the relevant regulations. We have nominated PwC to perform this annual audit.
All of this means that your investment will be returned to you in the event of Wise (or Wise Assets Europe AS) going bankrupt. In addition to the protection offered through the strict segregation of our customers’ assets, the Estonian Investor Protection Sectoral Fund will cover your assets for up to 20,000 EUR.
What happens if our fund provider (BlackRock) becomes insolvent?
BlackRock, a global and reputable investment company, is the fund manager of the funds we offer. In the unlikely event of BlackRock going bankrupt, it is important to know that the underlying assets (for example, for the equity fund this would be the shares of the companies that make up the index) are not held by BlackRock itself. Instead, a third party (known as the depositary or trustee) would look after the underlying assets of the fund. This means that the underlying assets are protected from creditors in the event of the fund manager becoming insolvent.
If you’re in the UK
What happens if Wise Assets becomes insolvent?
Wise Assets (trading name of Wise Assets UK Ltd, an investment subsidiary of Wise) holds customers’ fund units segregated from any corporate assets, registered in the name of a separate legal entity (Wise Assets Nominees Ltd). In the unlikely event of Wise Assets becoming insolvent, your assets are held separately from any of Wise’s other corporate assets. Insolvency practitioners would not be permitted to use any of these assets to cover outstanding debts. This is because Wise Assets Nominees Ltd. is a separate legal entity that would not be drawn into the insolvency. It simply exists to hold segregated assets on behalf of Wise Assets' customers.
Internally, we keep detailed records of all our customers’ investments. This information is reviewed and reconciled each business day. If Wise becomes insolvent, we would have clear records that show the amount of assets that belong to each customer. This would enable the insolvency practitioner to identify all assets that belong to you and make sure your assets are returned to you or transferred to a different provider.
All of the processes described above are in line with the FCA regulations. We are also subject to an annual external audit, an external inspection to assess if we operate in line with the regulations. We have nominated PwC to perform this annual audit.
All of this means that your investment will be returned to you in the event of Wise Assets going bankrupt. In addition to the protection offered through the strict segregation of our customers’ assets, the Financial Services Compensation Scheme (“FSCS”) protects each customer for up to £85,000. The FSCS could step in if Wise Assets goes bust and there’s a shortfall in the assets we hold for you.
What happens if our fund provider (BlackRock) becomes insolvent?
BlackRock, a global and reputable investment company, is the fund manager of the funds we offer. In the unlikely event of BlackRock going bankrupt, it is important to know that the underlying assets (for example, for the equity fund this would be the shares of the companies that make up the index) are not held by BlackRock itself. Instead, a third party (known as the depositary or trustee) will look after the underlying assets of the fund. This means that the underlying assets are protected from creditors in the event of our fund manager becoming insolvent.
If you're in Singapore
What happens if Wise becomes insolvent?
Wise Asia-Pacific Pte Ltd holds customer funds and fund units in segregated accounts and these are held separately from any other corporate funds or assets. This means, in the unlikely event of Wise becoming insolvent, insolvency practitioners would not be permitted to use any of these assets to cover outstanding debts.
Internally, we keep detailed records of all our customers’ investments. This information is reviewed and reconciled each business day. If Wise becomes insolvent, we would have clear records that show the amount of assets that belong to each customer. This would enable the insolvency practitioner to identify all assets that belong to you and make sure your assets are returned to you or transferred to a different provider.
All of the processes described above are in line with the Monetary Authority of Singapore (MAS) requirements. We are also subject to an annual external audit, an external inspection to assess if we operate in line with the regulations. We have nominated PwC to perform this annual audit.
All of this should guarantee that the funds you’re owed will be returned to you in the event of Wise going bankrupt.
What happens if our fund manager(s) becomes insolvent?
The fund manager(s) we select are reputable, global investment companies. In the unlikely event of the fund manager(s) going bankrupt, it is important to know that the underlying assets are not held by the provider(s). Instead, a third party (known as the custodian or trustee) will hold custody of the fund. This means that the funds are protected from creditors in the event that the fund manager(s) become insolvent.
If you're in Australia
What happens if Wise Australia Investments Pty Ltd becomes insolvent?
We hold fund units in segregated accounts and these are held separately from any other corporate funds or assets. This means, in the unlikely event of us becoming insolvent, insolvency practitioners would not be permitted to use any of these assets to cover outstanding debts.
Internally, we keep detailed records of all our customers’ investments. This information is reviewed and reconciled each business day. If we become insolvent, we would have clear records that show the amount of assets that belong to each customer. This would enable the insolvency practitioner to identify all assets that belong to you and make sure your assets are returned to you or transferred to a different provider.
We are required to meet Australian Securities and Investments Commission (ASIC) requirements in relation to customer property. We are also subject to an annual external audit, an external inspection to assess if we operate in line with the regulations. We've nominated PwC to perform this annual audit.
All of this is to assure that the fund units you own will be returned to you in the event of us going bankrupt.
What happens if our fund manager(s) becomes insolvent?
The fund manager(s) we select are reputable, global investment companies. In the unlikely event of the fund manager(s) going bankrupt, it's important to know that the underlying assets are not held by the fund manager. This means that your fund units are protected from creditors in the event that the fund manager(s) become insolvent.