Comment by ThePowerOfFuet

1 day ago

Wise is not a bank, is not licensed as a bank, and is thus not insured like a bank is.

Balances are held in Wise at your own risk.

Depends on the country. My money is stored in a bank, licensed as a bank, and insured like a bank (because it's a bank).

Wise is really just a glorified interface on the account. And no, it's not a shared account. Those don't really exist in Japan.