[tdido]

They seem to be under the FCA: https://transferwise.com/help/articles/2932699/what-is-the-f...

Do you mean they don't subscribe to the 80k protection or something like that?

[OJFord]

There are more services regulated by the FCA than which fall under the protection of the FSCS.

AIUI it would have to sign up to stricter regulation, and be treated as an actual bank account, or maybe as an investment (forex) account.

[dazc]

Sorry, yes, the £80k protection is under the Financial Services Compensation Scheme (FSCS) https://www.fscs.org.uk/

Transferwise are not in it and say they protect your money in other ways... https://transferwise.com/help/articles/2949821/is-it-safe-to...