Transferwise

[pontious]

I have had to transfer a large amount of money to TW due to TSB closing my account.  I know they are not protected under the Financial Scheme but they say the money is ring fenced .Does that mean safe.?

[Surelynot]

For money transfers, some currency exchange providers ring-fence clients funds away from their operations, costs and any associated risks. This separation means that if a financial services provider experiences difficulties in one part of the organization, money in the ring-fenced accounts will not be impacted.