Is Wise Safe and Secure?
Using Wise is very safe and secure and there are many safeguards in place to ensure that. They adhere to strict rules from the regulatory agencies in all of the countries they operate in such as the FCA in the United Kingdom to FinCen in the United States. On the Wise website, there is a link where you can check out all of the regulatory agencies used. Wise never sells your data, as they have bank-level data security.
There is also an in-house Wise team that deals with security issues, as they are always training and reviewing the processes used. Wise has also had positive reviews from such reputable outlets as Forbes, Telegraph, Nerdwallet, and Sitepoint. At TrustPilot there are over 100,000 Wise customer reviews with an average rating of 4.7 out of 5.
Wise is a payment service and not a bank and because of that Wise does not lend money out or invest it. They do not insure the money in a financial protection scheme but safeguard all of the funds. This means that, by law, Wise must store all of your money in accounts that are separate from the Wise business accounts. Because of that, your money is 100% safe and secure even if Wise closed or something happened to the company where their assets were frozen. Your money is stored in established and recognized financial institutions such as JP Morgan Chase and Barclays.
In terms of using Wise for online gaming, you know your money is safe and secure since you are not sharing any personal or financial information with the online gaming site. You are simply making deposits and withdrawals using Wise and to go further the processing times for deposits are always instant and withdrawals are often instant and if not very fast.