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Isn't this convenience at the cost of trusting a third party, I.e. Transferwise, with your money? They can unilaterally hold, delay, or stop you from using your
by jkepler 5y ago
Isn't this convenience at the cost of trusting a third party, I.e. Transferwise, with your money? They can unilaterally hold, delay, or stop you from using your money.
- arcticbull 5y agoYes, that is true, however Wise is a heavily regulated entity (in the sense that they are regulated simultaneously by a number of global regulators). Broadly speaking they would have to have a very good reason - a legal one - to preclude you from accessing your money. The flip side is you have a legal pathway to recovering your value in the unlikely situation you describe. Pros and cons.