Wise formerly Transferwise

[buksida]

If you're talking about the two rates I mentioned then sorry but I disagree

My account has nothing to do with US dollars

We must have different accounts then, I have both GBP and USD 'bank' accounts with WISE, and both offer 'jars' with slightly differing variable interest rates (USD is better). I'm currently earning on the GBP cash one which took a few seconds to set up after I sent THB to it and converted, there's nothing complicated about it.

[thecolonel]

If you're talking about the two rates I mentioned then sorry but I disagree

My account has nothing to do with US dollars

We must have different accounts then, I have both GBP and USD 'bank' accounts with WISE, and both offer 'jars' with slightly differing interest rates (USD is better). I'm currently earning on the GBP cash one which took a few seconds to set up after I sent THB to it and converted.

Maybe so

I'd love to get guaranteed interest of about 4.5% on GBP jars but I'm reading 'no'

But if you're getting it you're getting it, end of!

I'll keep digging

Ps I've tried to post a screenshot but it's just not loading...

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[DDD]

Money is also at risk in Wise in various ways. I read that Wise only facilitates the transfer of funds, never touches the money and deposits the money using multiple banks for a given country. I recognized the major banks they use in the US. In the US, bank funds are guaranteed by the FDIC (Federal Deposit Insurance corporation) for up to $250,000 per deposit, per person, per institution. Can’t get any safer than that…

[buksida]

Money is at risk everywhere at the moment with the world's economies in turmoil. Its just slightly different levels of risk and everyone's appetite for it is different.

If you think US banks are safe ... read on: viewtopic.php?f=35&t=41438

[STEVE G]

If you go onto the Wise app you can find out the various rates paid on your account.
It depends where your account is held and the currency.
One thing I noticed is that interest on my account, which is registered in the EU has tax deducted whereas the investment jar does not.

[pitsch]

From WISE Help:
Do I earn interest on my Balances or Jars?
We currently don’t pay interest on money held in your Balances or Jars as Cash.

We offer Assets in certain regions that allows you to hold your money in Stocks or Interest.

Find out more about Assets

Eligible US customers can receive interest on the USD balances held in their Wise Account

Find out more about earning interest on your USD balance

If you live in the European Economic Area (EEA) you may be eligible to receive cashback for any EUR, GBP and USD you hold in Balances and Jars

[thecolonel]

If you go onto the Wise app you can find out the various rates paid on your account.
It depends where your account is held and the currency.
One thing I noticed is that interest on my account, which is registered in the EU has tax deducted whereas the investment jar does not.

"If you go onto the Wise app you can find out the various rates paid on your account"

Where exactly? thanks

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[STEVE G]

I come under this:
"If you live in the European Economic Area (EEA) you may be eligible to receive cashback for any EUR, GBP and USD you hold in Balances and Jars"

Any interest on Balances appears as "cashback" and if you click on that in the app it gives you details of interest rates and tax paid.
Interest on the investment jars appears as "interest" with a rate alongside.

[Gregjam]

With all the furore over the taxing of foreign income I have not yet seen any comment or question about where Wise fit in as payment comes from a local account. I may have missed this or are people just keeping quiet. With the 800k in the bank the day to day funds would not be taxable if coming from a local account.