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The reason a Bank is strictly defined is that TW does not guarantee any cash that you have stored with them. With a bank you have up to £85,000 insured and gua
by design-material 6y ago
The reason a Bank is strictly defined is that TW does not guarantee any cash that you have stored with them.
With a bank you have up to £85,000 insured and guaranteed e.g. if the bank fails
- Gaelan 6y agoIIRC TransferWise holds all your money in escrow (as opposed to investing it or w/e), so they don't need to guarantee it. I'm not sure off hand if that's just what they claim, or if they actually make a legal promise to that effect.