Wise breached Russia sanctions with £250 withdrawal and accused of having ‘inappropriate’ controls August 31, 2023 London fintech firm Wise has been accused of “inappropriate” controls by the government regulator today after allowing a sanctioned Russian customer to withdraw cash from a business account. Wise, which allows businesses and individuals to open current accounts and transfer money overseas, allowed the company of a so-called “Designated Person” to successfully withdraw £250 in [...]
Wise makes more interest rate hay as income surges 66 per cent July 18, 2023 Wise, the money transfer firm, said the amount of interest income it was raking in on customer balances has continued to rise after it made hay from rising rates last year. In a trading update today, Wise said balances in its customers’ accounts had grown to £11.5bn in the first three months of its financial [...]
FTSE 100 close: Asia stock surge lifts London index as Wise soars 16 per cent June 27, 2023 London’s FTSE 100 regained ground today, taking its lead from a decent overnight session in Asia that was aided by Chinese lawmakers signalling economic support measures are on the way. The capital’s premier index jumped 0.11 per cent to 7,461.47 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
Wise: Fintech firm’s finance chief to quit and focus on recovery from bike accident May 22, 2023 Fintech firm Wise has announced its finance chief will step down from his role today just two weeks after boss Kristo Kaarman revealed he would be taking an extended period of leave later this year.
Wise misses estimates as currency volatility slows cash transfers overseas April 18, 2023 Money transfer fintech Wise reported a slump in the amount of cash sent on its platform for a second consecutive quarter today as a cost of living squeeze and currency fluctuations unsettled customers. The London-listed fintech missed analyst estimates as the volume of money transferred per customer dropped four per cent on the previous quarter, [...]
Exclusive: MPs rebuke Wise after it freezes not-for-profit’s account September 6, 2022 Money transfer firm Wise has been rebuked by a group of MPs today after it suddenly froze the account of a non-profit drug policy organisation and prevented its staff from being paid, City A.M. can reveal.