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Wise Customer Agreement

Wise Payments Canada Inc.

Last updated: 15 August 2023

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This Customer Agreement sets forth the terms and conditions for the use of the Wise services (hereinafter referred to as the “Services”) provided by Wise Payments Canada Inc. (hereinafter referred to as the “Wise”, "we," “us,” and “our”).

By opening, registering, or using a Wise Account, or by otherwise using the Services, Customers (hereinafter referred to as “you” and “your”) agree to be bound by this Customer Agreement and consent to receive communications related to the Services or your Wise Account in electronic format. Customers are asked to carefully read the terms and conditions set forth in this Customer Agreement when registering to use the Services. Wise recommends that you print out a copy of this Customer Agreement to retain as a reference. Please note that if you do not accept this Customer Agreement, you will not be able to use the Services. You also agree, by using the Services and accepting this Customer Agreement, to comply with and accept the following additional policies:

  • Our Privacy Policy, which sets forth the terms on which we handle any personal data we collect about you, or that you provide to us. By using our Services, you consent to such processing and you confirm that all data provided by you is accurate.
  • Our Acceptable Use Policy, which sets forth the permitted uses and prohibited uses of our Services.
  • Our Frequently Asked Questions (FAQs) page, which provides answers to common customer questions, and which are incorporated into this User Agreement.

Please read carefully all of the terms of these policies and each of the other agreements that apply to you. Your use of certain of the Services may be subject to additional terms and conditions, as communicated by us to you through the Service, and such additional terms and conditions are incorporated into this User Agreement. This Customer Agreement contains several sections, and you should read all of them carefully. The headings are for reference only. Some capitalized terms have specific definitions that are defined in the Customer Agreement.

1. Wise and its Affiliate

Wise is registered in Canada with the Financial Transactions Reports Analysis Centre of Canada (“FINTRAC”), registration number M15193392. Wise is registered as a money service business and is able to provide foreign exchange dealings and money transfer services to customers resident in Canada.

2. Eligibility

To be eligible for our Services, you must be at least 18 years old, or the age of majority in your province or territory of residence. You further represent and warrant to us that if you are an individual and you open an account with us in the Wise website (a “Wise Account”) that you are acting exclusively for your own benefit and are not acting on behalf of any third party principal or any third party beneficiary. You must only use the Services to transact on your own account and not on behalf of any other person or entity.

3. The Services

  1. Opening a Wise Account

    In order to use some or all of the Services, you must first open a Wise Account by providing certain information. For legal reasons, all information you provide during the signup process or any time thereafter must be complete, accurate and truthful. You are responsible for keeping your mailing address, email address, telephone number, and other contact information up-to-date in your Wise Account profile. To make changes to your profile, login here and then go to your account page. We may refuse to provide or may discontinue providing the Services to any person or entity at any time for any reason. We treat all activities under a Wise Account to be those of the registered user.

    1. Account Security and Privacy

      Protecting your privacy is very important to Wise. Your passwords are stored on Wise servers in encrypted form. We do not disclose your personal information, including account details, postal or email addresses to anyone except when legally required to do so and as specified in our Privacy Policy. Sensitive information between your browser and the Wise.com website (the “Wise Website”) is transferred in encrypted form using Secure Socket Layer (SSL). When transmitting sensitive information Wise Website, you should always make sure that your browser can validate the Wise.com certificate. For further details on our Privacy Policy, please click here.

      You, not Wise, are responsible for maintaining adequate security and control of any and all IDs, passwords, or any other details that you use to access your Wise Account and the Services. You must never disclose your Wise Account password or your customer reference number (see our FAQs page for more information about these credentials). We will never ask you to provide your password to us or to a third party. Tell us if anyone asks for your password, and contact Customer Support if you are not sure about this, or any other security-related aspect of your Wise Account. You must never let anyone access your Wise Account or watch you accessing your Wise Account.

      If you suspect your Wise Account, login details, password or any other security features are stolen, lost, used without authorization or otherwise compromised, you are advised to change your password. Contact Customer Support immediately if you believe your credentials have been compromised or you are suspicious about the security of your password or any other security features. The compromise of your credentials could enable thieves to access your bank account and attempt transactions not authorized by you. Telephoning us is the best way to minimize your risk of loss. In addition, contact us at once if your transaction history for your Wise Account shows transactions that you did not initiate. You can contact our Customer Support hotline at 1-888-908-3833 or you can contact customer service through our Help Centre.

      We rely on you to regularly check the transactions history of your Wise Account and to contact Customer Support immediately in case you have any questions or concerns. We may (but are not obligated to) suspend your Wise Account or otherwise restrict its functionality if we have concerns about the security of the Wise Account or any of its security features; or potential unauthorized or fraudulent use of your Wise Account. See Wise can close your Wise account, below for more details.

      You must make sure that your e-mail account(s) are secure and only accessible by you, as your e-mail address may be used to reset passwords or to communicate with you about the security of your Wise Account. Let Customer Support know immediately if your email address becomes compromised. Never use any functionality that allows login details or passwords to be stored by the computer or browser you are using or to be cached or otherwise recorded. Additional Wise products or Services you use may have additional security requirements, as notified to you by us, and you must familiarize yourself with those requirements.

      In the case of what you believe to be any incorrect or misdirected payment, please see Errors and Unauthorized Transactions below.

    2. Duplicate Accounts

      Wise reserves the right to refuse the creation of duplicate accounts for the same user due to security and client identification requirements. In a case where duplicate accounts are detected, Wise reserves the right to close or merge these duplicate accounts without notification to you.

    3. Verification

      If you open a Wise Account and use certain of the Services, law requires that we verify some of your information. You authorize Wise to make any inquiries we consider necessary to validate your identity, either directly or through third parties, including checking commercial databases or credit reports. For that we may ask for credit header check together with bank account ownership verification. If credit header check fails, we request certified photo ID. This is sufficient if bank account ownership is also verified.

      Wise reserves the right to access various government and private databases so as to verify your information. If certain databases provide a match to the information you provide then we may not have to ask for photographic evidence of your identity. Wise reserves the right to close, suspend, or limit access to your Wise Account and/or the Services in the event we are unable to obtain or verify this information.

  2. Uploading Money

    You may upload money in supported currencies into your Wise Account in order to (i) convert the currency, (ii) send it to another person or to your own account or (iii) hold a balance in your Wise Account for use later. Currencies supported for these actions are listed on our Website.

    You can upload money through one or more methods, for example, a pre-authorized direct debit via electronic funds transfer (“EFT”) or a wire transfer from your bank account, with a credit or debit card or Interac™. The number of methods available to you will depend on a number of factors including your verification status with us. Upload methods are not part of our Services, they are services provided by third parties. We cannot guarantee the use of any particular upload method and may change or stop offering a particular upload method at any time without notice to you.

    We will credit your Wise Account once we have received your money, and are not responsible for the money you have uploaded until we have received them. For some particular upload methods, we will credit the money to your Wise Account as soon as possible subject to our right of reversal. This means if the actual amount you intended to upload does not reach us within a reasonable time, we may deduct such amount from your Wise Account. See Reversals and Chargebacks, for details. If you do not have enough money in your Wise Account for this purpose, we can demand repayment from you using other methods. See Negative Account Balances for further details.

    1. Upload Money by Pre-Authorized Direct Debit

      If you choose to upload money using our pre-authorized direct debit feature to directly debit your bank account, you will need to provide, or we will receive through bank log-in information provided by you, your bank account details, including your bank account number and routing number. When you choose to upload money using our pre-authorized direct debit feature and provide your bank account details, you confirm that your bank account details are correct, that you are authorized to access and transmit funds from your bank account, that you have sufficient funds in your account for the upload, that your bank account is in good standing with the account-holding financial institution, and that you have the authority to initiate an electronic funds transfer in the amount at issue to or from your bank account. Your authorization shall remain in effect for each transaction unless canceled in accordance with this Customer Agreement, in which case, we will promptly return the deposit to the account from which it originated, assuming the money is not yet received by Wise. In the event that we are unable to return the deposit, then we will promptly contact you using the most current contact information provided to us by you through your Wise Account registration.

    2. Upload Money by Debit or Credit Card

      If you choose to upload money via debit or credit card, you will need to provide your card details, including your card number and cardholder name. When you choose to upload money via debit or credit card, you confirm that your card details are correct, that you are authorized to access and transmit funds from your card account, that your card account is in good standing with the account-holding financial institution, and that you have the authority to initiate a debit or credit card payment in the amount at issue to or from your card account.

    3. Upload Money by Interac™

      If you choose to upload money via Interac™, you will need to provide your email address or phone number. When you choose to upload money via Interac™ you confirm: you are authorized to access and transmit funds from your bank account via Interac™, and that you have the authority to initiate an Interac™ e-transfer or approve an Interac™ request payment in the amount at issue to or from your bank account. The bank that you choose to complete your Interac™ e-transfer may have restrictions on the amount you may send in each Interac™ e-transfer and the frequency of Interac™ e-transfers you may have over a period of time.

    4. Upload Money by Wire or Electronic Funds Transfer From your Bank Account

      If you choose to upload money using an electronic funds transfer from your bank account, or the domestic wire transfer method, then your transaction order will remain inactive until we receive your funds to our specified account. Such payments must be made to our specified account via an electronic funds transfer or domestic wire transfer. In cases where for any reason the upload transaction is cancelled or refused, then we will promptly return the deposit to your bank account from which the transaction originated. In the event that we are unable to return the deposit, then we will promptly contact you using the most current contact information provided to us by you through your Wise registration.

    5. Upload Money by Wire or Electronic Funds Transfer From your Bank Account

      No other payment methods are accepted, including cash, mailed check, or electronic check. There may be financial limits for particular payment methods or currencies, please visit the Frequently Asked Questions section for more information. If you selected an upload method which gives you reversal and chargeback rights (for example in relation to your credit card, you may ask your card provider to reverse a transaction on your card) please see Reversals and Chargebacks below.

      For legal and security reasons, we may impose limits on how much you can upload into your Wise Account.

  3. Receiving Money from Third Parties

    In certain currencies, we may provide to you specified bank account details that you can in turn provide to third parties so that they can send money to your Wise Account using either the electronic funds transfer method, or the domestic wire transfer method. These account details are offered by our third-party banking partners. These specified bank account details that we provide to you in order for you to receive funds from third parties are for accounts held by Wise and its affiliates (and we will credit your Wise Account, which is held by us, upon receipt of such funds), and are not for a bank account held by you.

    When someone sends money to your Wise Account using a method that we support, the money will appear in your Wise Account. You should check the incoming funds in your Wise Account against your own records regularly and let us know if there are any irregularities. When you receive funds you can accept them as-is and maintain a balance in your Wise Account in that currency or accept them and then convert it to another currency, and hold that currency or send it to your or a third party’s account. See Currency Conversion below for details. If you choose to receive money using this method, you will not have access to such funds until we receive the funds into our specified account.

    You acknowledge that the money received in your Wise Account via this method may be subject to Reversal or Chargeback and you agree that we may deduct the received amount from your Wise Account if it is reversed by the person who paid you the received amount or any relevant payment services provider. In cases for any reason the transaction is cancelled or refused, then we will promptly return the deposit to the bank account from which the transaction originated. See further details in the Negative Account Balances section. In the event that we are unable to return the deposit, then we will promptly contact you using the most current contact information provided to us when you registered for your Wise Account.

    If you provide the account details we provide to you to a third party, you agree that you will not impose a surcharge or any other fee solely for accepting payment through a Service offered by Wise. You are not permitted to receive payments by other payment methods, including cash, mailed check, or electronic check. There may be financial limits for particular payment methods or currencies, please visit the Frequently Asked Questions section for more information.

  4. Holding A Balance in your Wise Account
    1. Wise is not a bank and your Wise Account is not a bank account.

      Wise is not a bank and therefore value held as a balance in your Wise Account represents an unsecured claim against Wise and is not insured by the Canada Deposit Insurance Corporation (CDIC) or any other deposit protection scheme. Wise owns the interest or other earnings on these investments, if any. Wise does not use balances held by its customers for operating expenses or other corporate purposes. In addition, as discussed above, the specified bank account details that we provide to you in order for you to receive funds from third parties are for accounts held by Wise and its affiliates (and we will credit your Wise Account, which is held by us, upon receipt of such funds), and are not for a bank account held by you.

      For further information on how we look after your money, please visit our Frequently Asked Questions page.

    2. History of Transactions

      All of your transactions (including your balance, uploaded money, and money you have received, converted, sent and/or withdrawn), including related fees and exchange rates, if applicable, are recorded in the transaction history section of your Wise Account.

      You may access this information after you have logged into your Wise Account. We have allocated a transaction number to each transaction; you should quote this transaction number when communicating with us about a particular transaction.

  5. Managing Your Money in Multiple Currencies

    Your Wise Account balance may be held in certain currencies supported by Wise from time to time. You may hold a balance in more than one of these currencies at the same time. You are responsible for all risks associated with maintaining a Wise Account balance in multiple currencies. You may not manage multiple currencies for speculative trading purposes.

  6. Withdrawing or Sending Money

    If you have a Wise Account balance, you may remove it by:

    • Withdrawing it by sending it to your own bank account (whether or not your bank account is based in Canada) through electronic funds transfer or other method, depending on the currency;
    • Sending it to another Wise customer’s account;
    • Sending it to a third party’s bank account (whether or not it’s based on Canada) through electronic funds transfer or other method, depending on the currency.

    The number of payout methods made available to you will depend on a number of factors including your verification status with us. We cannot guarantee the use of any particular payout method and may change or stop offering a payout method at any time without notice to you, but we will ensure that you will have at least one payout method available to you unless prohibited by applicable law.

    We will charge you a fee for each withdrawal or send money request. We will let you know the exact amount when you submit your request. You can also find out more information about the fees we charge on the Pricing Page and below in the Fees section. Payout methods are not part of our Services, they are services provided by third parties for example the bank where you or the third party recipients hold a bank account.

    1. Limits on Withdrawal and Sending Money

      You agree that your Wise Account is subject to withdrawal and send money limits. If your withdrawal request exceeds the current limit, we may decline your request or impose additional checks or impose additional obligations or time limitations before allowing the money to be withdrawn.

    2. Delay in Withdrawal or Sending Money

      We do not have any control over the time it may take for your or a recipient’s bank or payment provider to credit and make available funds to you or your recipient once we make the funds available to you or the recipient’s bank or payment provider.

      We may delay a withdrawal, in certain situations, including if we need to confirm that the withdrawal has been authorized by you or if other payments to your Wise Account have been reversed for example, as a result of a chargeback or bank reversal (See Reversals and Chargebacks for more details).

  7. Currency Conversion

    Our Services include the ability to convert currencies, for example:

    • You may upload money in one currency and use that balance to send money to a third party in another currency;
    • You may upload money in one currency and use that balance to withdraw money in a different currency; or
    • You may convert a currency balance in your Wise Account to a different currency to hold in your Wise Account

    A conversion fee will apply when we perform a currency conversion. You can also find out more information about the fees we charge on the Pricing Page and below in the Fees section. You must set up a currency conversion order from your Wise Account and in each case the currency conversion order will be a “Fixed Source Order” which is a currency conversion order where you indicate that you wish to convert a fixed amount of source currency (the currency you start with) in order for you or your recipient to receive the converted amount in a target currency (the currency you want to send or end up with in your account).

    We will only process your currency conversion order if we hold or have received the relevant funds and the fees specified on the Pricing Page and in the Fees section below from your Wise Account. It is your responsibility to send us the money to fund a currency conversion order in a timely manner. We cannot be responsible for the time it takes for the money to be sent to us by your bank or payment service provider.

    Refusing a currency conversion order. We reserve the right in our sole discretion to refuse any currency conversion order. Reasons for refusal may include but are not limited to incorrect information about the recipient, insufficient available funds, or where we believe you may have violated this Customer Agreement, including we believe you are attempting to engage in currency trading or other trading for purposes not permitted by this Customer Agreement. We will endeavour to notify you of any refusal, using the contact information in your Wise Account, stating (where possible) the reasons for such refusal and explaining how to correct any errors. However, we will not notify you if such notification may be unlawful.

    Once we have received your currency conversion order, we will send you a confirmation by email that we have received it. Each currency conversion order is given a unique transaction number which is shown in the transaction history on your Wise Account. You should quote this transaction number when communicating with us about a particular currency conversion order.

    When will I be notified of my next scheduled transfers. If you have scheduled a transfer in advance then we will notify you 24 hours before your upcoming transfer, setting out the total fees and the estimated ‘live’ exchange rate for that transfer. By scheduling a transfer, you agree to TW sending the funds using the live exchange rate at any time on the scheduled date. If you have opted in to receiving emails, we will send you a transfer receipt after successfully sending your scheduled transfer. For more information on scheduled transfers see our Help Centre.

    1. Exchange rate used to convert currency

      We will let you know the exchange rate:

      1. when you place your currency conversion order, if it is a guaranteed rate currency conversion order; or
      2. when we have received your payment, if it is a non-guaranteed rate currency conversion order.
    2. Guaranteed Rates

      We will notify you of the guaranteed rate and the guaranteed time period (the "Guaranteed Period") when you create your Money Transfer. Guaranteed Periods are subject to the following conditions:

      • (a) The Guaranteed Period may be extended if your Money Transfer is created over the weekend or public holiday.
      • (b) We must receive sufficient funds from you during the Guaranteed Period in order to convert your money at the guaranteed rate. You will see when we have received your money by logging into your Wise Account.
      • (c) If we receive your funds after the Guaranteed Period, we will not be able to convert your money using the guaranteed rate and your transfer will become a non-guaranteed rate transfer. Accordingly, we may convert your money at the applicable exchange rate at the time we receive your money or we will email you and ask you if you want to proceed with your transfer at the new exchange rate.
      • (d) If the relevant exchange rate (as provided by our reference exchange rate provider) changes by 5% or more during the Guaranteed Period, we can, at our option, suspend your transfer for a reasonable period of time or cancel your transfer and refund the money to you.
      • (e) For certain currencies, including where you are sending from Japanese Yen (JPY), the guaranteed rate will only be offered after your address has been verified by us.
      • (f) We may change these guaranteed rate conditions or suspend the guarantee rate feature at any time.
    3. Limits on Conversion

      We may place limits on the amount of currency you may convert at any given time, for more information on the applicable limits, please visit our Frequently Asked Questions page. We may limit the amount of your conversion order consistent with our obligations under applicable law and at our discretion. If your conversion order is received by us after 5pm on a Business Day or not on a Business Day, your currency conversion order will be deemed received on the following Business Day.

    4. Delay in Conversion

      We carry out verification checks and these checks may increase the time it takes to process your currency conversion order. We cannot be responsible for any delays as a result of carrying out those checks. The completion time of your currency conversion order (i.e., the date on which funds will be available to the recipient) is notified to you on your confirmation when you complete the setup of your transaction order. You may also find further information regarding the completion time on the Frequently Asked Questions page.

    5. Cancellation of your Currency Conversion Order

      You may cancel your currency conversion order for a full refund at any time before the transaction amount is converted in accordance with your instructions. However, frequent cancellations may result in our restricting your use of the Services.

      You are responsible for ensuring the instructions you provide to us are accurate. Once payment instructions have been executed by Wise, transactions cannot be cancelled or reversed and we will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions.

    6. Auto Conversion.

      For certain currencies, you may be able to set one or more conversion orders to be automatically executed once the exchange rate you pick is offered by our Services (an “auto conversion order”). There may be limits to the number of auto conversion orders you are able to set up, as well as the amounts of money you can schedule to convert. Wise does not guarantee that it will be able to execute your auto conversion order in all circumstances.

    7. We are not a currency trading platform.

      Wise is not a currency trading platform, and accordingly, you should not use our Services, including the Wise Account or the auto conversion order function for this purpose (including creating multiple auto conversion orders or a series of Money Transfers without the intention of completing them or for seeking to profit from FX trading). If we detect that you are using our Services for this purpose, we may, at in our sole discretion, set a limit on the number of auto conversion orders you may create, cancel your orders, set a limit on the amount of money you can convert or transfer in one or more currencies or in the same currency, restrict your ability to use this or other features, or suspend or close your Wise Account and disgorge your gains.

  8. Fees and Taxes

    The fees for withdrawing and sending money, and currency conversion will be disclosed to you when you place an order and prior to you confirming the transaction. You may also view the fee structure on our Pricing Page. For clarity, the fees applicable to you on the Pricing Page form part of this Customer Agreement and are subject to change.

    You agree to pay the relevant fees using your chosen payment method when you upload money. The fee will be charged at the time when you withdraw money or convert currency. Our fee does not include any fees that your bank or the recipient’s bank may charge. Those fees may be deducted from money you upload into your Wise Account or balances in your Wise Account. We will not process your currency conversion order until we have received the applicable fee from you.

    You are responsible for any taxes which may be applicable to payments you make or receive, and it is your responsibility to collect, report and pay the correct tax to the appropriate tax authority.

    We may charge you a separate variable fee during periods of potential heightened volatility or unpredictability in the foreign exchange market, as determined by Wise. We will let you know if this fee is applicable when you set up your order, for more information see here.

  9. Closing Your Wise Account

    1. You May Close your Wise Account

      You may end this Customer Agreement and close your Wise Account at any time by contacting our Customer Support hotline 1-888-908-3833, or by email through our Help Centre.

      At the time of closure, if you still have money in your Wise Account, you must withdraw your money within a reasonable period of time by following the steps described Withdrawing or Sending Money above. You must not close your Wise Account to avoid an investigation. If you attempt to close your Wise Account during an investigation, we may hold your money until the investigation is fully completed. You agree that you will continue to be responsible for all obligations related to your Wise Account even after it is closed.

    2. Wise can Close your Wise Account

      Wise, in its sole discretion, reserves the right to suspend or terminate this Customer Agreement and access to or use of our Websites, software, systems (including any networks and servers used to provide any of the Services) operated by us or on our behalf or some or all of the Services for any reason and at any time upon notice to you and, upon termination of this Customer Agreement, the payment to you of any unrestricted funds held in your Wise balance.

      Reasons we may close your Wise Account include, but are not limited to:

      • your breach of any provision of this Customer Agreement or documents referred to in this Customer Agreement;
      • we are requested or directed to do so by any competent court of law, government authority or agency, or law enforcement agency;
      • we have reason to believe you are in violation or breach of any applicable law or regulation; or
      • we have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal or illegal activity.

      We may also suspend your Wise Account if it has been compromised or for other security reasons or has been used or is being used without your authorization or fraudulently. See Account Security and Privacy above for details.

      If we close your Wise Account or terminate your use of the Services for any reason, we’ll provide you with notice of our actions and make any unrestricted prepaid money held in your Wise Account available for withdrawal.

      In the event of loss, claims, costs or expenses (including reasonable legal fees) arising out of your breach of this Agreement, any applicable law or regulation and/or your, or any authorised third parties’, use of our Services, you agree to defend, compensate us and our affiliates and hold us harmless. This provision will continue after our relationship ends.

    3. What happens if you owe us money?

      In the event you are liable for any amounts owed to us, we may immediately remove such amounts from your Wise Account (if available). If there are insufficient funds in your Wise Account to cover your liability, we reserve the right to collect your debt to us by using any payments received in your Wise Account and otherwise you agree to reimburse us through other means. We may also recover amounts you owe us through other collection avenues, including, without limitation, through the use of a debt collection agency. We may recover all reasonable costs or expenses (including reasonable attorneys' fees and expenses) incurred in connection with the enforcement of this Customer Agreement.

  10. Communications

    We are required to provide certain information to you in writing. By accepting this Customer Agreement, you agree that we can communicate with you electronically either by email or by posting notices on the Website.

    We may call or text message you at the telephone number(s) you have provided to us. We may place such calls or texts to (i) provide notices regarding your Wise Account or Account activity, (ii) investigate or prevent fraud, or (iii) collect a debt owed to us. We may share your phone number(s) with service providers with whom we contract to assist us in providing you services, but will not share your phone number(s) with third parties for their own purposes without your consent. Standard telephone minute and text charges may apply. We will not call or text you for marketing purposes.

4. Issues that May Occur

  1. Reversals and Chargebacks

    You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by Wise caused by or arising out of your breach of this Customer Agreement, and/or your use of the Services. You agree to reimburse Wise for any and all such liability. Whenever a transaction is reversed, Wise will refund or reverse the transaction from your Wise Account in the same currency as the original transaction. If your Wise Account balance for a particular currency is insufficient to cover the amount of a refund or reversal, Wise will perform a currency conversion in order to refund or reverse the transaction, subject to the exchange rate being offered by Wise in the applicable currencies at that time.

    Payments to you may be invalidated and reversed by Wise if:

    • Our investigation of a bank reversal finds that the transaction was fraudulent.
    • Wise sent the payment to you in error.
    • The payment was unauthorized or invalidated by the sending bank.
    • You received the payment for activities that violated this Customer Agreement, the Acceptable Use Policy, or any other agreement between you and Wise.
    • Wise has a claim against you for the funds.

    When you receive a payment, you are liable to Wise for the full amount of the payment sent to you plus any fees if the payment is later invalidated for any reason.

  2. Negative Account Balances

    If your Wise Account balance becomes negative for any reason, including on account of reversal or chargeback, that negative balance represents an amount you owe to Wise and you promise to repay the negative balance immediately without any notice from us. Wise may deduct amounts owed from money you upload or money you receive into your Wise Account. If you manage your balance in your Wise Account in multiple currencies, and the balance in one of the currencies becomes negative for any reason, Wise may set off the negative balance by using value you maintain in a different currency. Wise will perform a currency conversion to do this, which will be subject to the exchange rate being offered by Wise in the applicable currencies at that time. We may send you reminders or take such other reasonable actions to recover the negative balance from you, for example, we may use a debt collection service or take further legal actions. In order to recover negative account balances from you, we may convert the amount you owe us into Canadian dollars.

  3. Errors and Unauthorized Transactions

    To protect yourself from errors and unauthorized activity, you should regularly log into your Wise Account and review your Wise Account statement. Wise will notify you of each transaction by sending an email to your primary email address on file. You should review these transaction notifications to ensure that each transaction was authorized and accurately completed.

    Wise will protect you from unauthorized activity and errors in your Wise Account. When this protection applies, Wise will cover you for the full amount of the unauthorized activity as long as you cooperate with us and follow the procedures described this section. Where this section requires you to notify us, please do so by contacting the customer service hotline at 1-888-908-3833 or contact customer service by email through our Help Centre.

    We will rectify any Errors that we discover. If the Error results in:

    • You receiving less than the correct amount to which you were entitled, then we will credit your Wise Account for the difference between what you should have received and what you actually received.
    • You receiving more than the correct amount to which you were entitled, then we will debit your Wise Account for the difference between what you actually received and what you should have received.

    1. Currency Conversion Errors

      With regard to currency conversion orders, the following are considered Errors:

      • You paid an incorrect amount for your currency conversion order;
      • Wise made a computational error, such as a miscalculation of the amount the recipient received;
      • The amount stated in the currency conversion order receipt provided to sender was not made available to the recipient, unless the problem was caused by extraordinary circumstances outside our control; and
      • Funds were made available to the recipient later than the date of availability that was disclosed to you on the currency conversion order receipt, or were not delivered, unless extraordinary circumstances outside our control caused the delay (such as actions by third parties) and we could not reasonably anticipate those circumstances, or delays resulted from fraud screenings, or were caused by requirements of the FINTRAC or similar requirements, or the transfer was made with fraudulent intent.

      If you believe an Error of the type described above have occurred, and you must duly contact us in accordance with the information above, we will investigate and determine whether an error occurred within 90 days (although we typically do this within ten (10) business days) after you contact us. We will inform you of our determination within three (3) Business Days after completing our investigation.

    2. Account Balance Errors and Unauthorized Transactions

      With regard to our your Wise Account balance, the following are considered Errors:

      • When money is either incorrectly taken from your Wise Account or incorrectly uploaded into your Wise Account, or when a transaction is incorrectly recorded in your Wise Account;
      • You send money to a third party or withdraw money, and the incorrect amount is debited from your Wise Account;
      • An incorrect amount is credited to your Wise Account;
      • A transfer to or from your Wise Account is missing from or not properly identified in your Wise Account statement; and

      If you believe an Error of the type described in this section have occurred, and you duly contact us in accordance with the information above, we will investigate and determine whether an error occurred within ten (10) Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question and we may, under certain circumstances, credit your Wise Account for the amount you think is in error, until we complete our investigation. For new Wise Accounts, we may take up to twenty (20) Business Days to credit your Wise Account for the amount you think is in error. We will tell you the results within three (3) Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

      What is an Unauthorized Transaction?

      An Unauthorized Transaction occurs when money is sent from your Wise Account balance that you did not authorize and that did not benefit you. For example, if someone steals your password, uses the password to access your Wise Account, and sends a payment from your Wise Account, an Unauthorized Transaction has occurred.

      The following are not considered Unauthorized Transactions:

      • If you give someone access to your Wise Account (by giving them your login information) and they use your Wise Account without your knowledge or permission. You are responsible for transactions made in this situation.
      • Invalidation and reversal of a payment as a result of the actions described under Reversals and Chargebacks.

      If you believe your Wise login information has been lost or stolen, call: 1-888-908-3833, or by email through our Help Centre or write: Wise US Inc., 30 W 26th Street, Floor 6, New York, NY 10010, ATTN: Wise Compliance.

      Tell us right away if you believe your Wise login information has been lost or stolen, or if you believe that transactions have been made in your Wise Account without your permission using your login information. You could lose all the money in your Wise Account. If you tell us within 60 days after we provide you your Wise Account statement showing transfers you did not make, you will be eligible for 100% protection for Unauthorized Transactions.

      Also, if your Wise Account statement shows transfers that you did not make, including those made with your Wise login information or by other means, tell us at once. If you do not tell us within 60 days after we provided the statement to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

  4. Complaints

    If you have a question or complaint regarding the Services, please send an e-mail through our Help Centre. You may also contact us by writing to Wise US Inc., 30 W 26th Street, Floor 6, New York, NY 10010, ATTN: Wise Compliance, or by calling us at 1-888-908-3833. Please note that e-mail communications will not necessarily be secure; accordingly you should not include credit card information or other sensitive information in your e-mail correspondence with us.

5. Technology

  1. Linking to Our Website

    You may link to our Website, provided that you comply with the terms and conditions of this Customer Agreement, and follow certain rules. You may link to our Website, provided:

    • you do so in a way that is fair and legal and does not damage our reputation or take advantage of it;
    • you do not suggest any form of association, approval or endorsement on our part where none exists;
    • you do not frame our Website on any other site;
    • you do not refer to any of our Services as “banking” services; and
    • the website linking to our Website complies our Acceptable Use Policy.

    We reserve the right to revoke such withdraw linking permission without notice and for any reason.

  2. Wise App

    In consideration of you agreeing to abide by the terms of this Customer Agreement, we grant you a non-transferable, non-exclusive license to use the App on your device subject to this Customer Agreement and the Appstore Rules. We reserve all other rights. From time to time updates to the App may be issued through App Store or Google Play. Depending on the update, you may not be able to use our Services via the App until you have downloaded the latest version of the App and accepted any new terms.

    In addition to your agreement with the foregoing terms and conditions, and notwithstanding anything to the contrary herein, the following provisions apply with respect to your use of any version of the App compatible with the iOS operating system of Apple Inc. (“Apple”). Apple is not a party to this Customer Agreement and does not own and is not responsible for the App. Apple is not providing any warranty for the App except, if applicable, to refund the purchase price for it. Apple is not responsible for maintenance or other support services for the App and shall not be responsible for any other claims, losses, liabilities, damages, costs or expenses with respect to the App, including any third-party product liability claims, claims that the App fails to conform to any applicable legal or regulatory requirement, claims arising under consumer protection or similar legislation, and claims with respect to intellectual property infringement. Any inquiries or complaints relating to the use of the App, including those pertaining to intellectual property rights, must be directed to Wise in accordance with this Customer Agreement. The license you have been granted herein is limited to a non-transferable license to use the App on an Apple-branded product that runs Apple’s iOS operating system and is owned or controlled by you, or as otherwise permitted by the Usage Rules set forth in Apple’s App Store Terms of Service. In addition, you must comply with the terms of any third-party agreement applicable to you when using the App, such as your wireless data service agreement. Apple and Apple’s subsidiaries are third-party beneficiaries of this Customer Agreement and, upon your acceptance of the terms and conditions of this Customer Agreement, will have the right (and will be deemed to have accepted the right) to enforce this Customer Agreement against you as a third-party beneficiary thereof; notwithstanding the foregoing, our right to enter into, rescind or terminate any variation, waiver or settlement under this Customer Agreement is not subject to the consent of any third party.

  3. Information Security

    Please see Account Security and Privacy above for further details on how to keep your Wise Account safe. You are responsible for configuring your information technology, computer programs and platform in order to access our Services. You should use your own virus protection software. You must not misuse our Services by introducing viruses, trojans, worms, logic bombs or other materials which are malicious or technologically harmful. You must not attempt to gain unauthorized access to the Services, or our Website, our servers, computers or databases. You must not attack the Services, including via our Website with any type of denial-of-service attack. By breaching this provision, you would commit a criminal offence under applicable law. We may report any such breach to the relevant law enforcement authorities and we may co-operate with those authorities by disclosing your identity or other information to them. In the event of such a breach, your right to access and use our Website and/or our Services will cease immediately without notice, and you must immediately cease all such access and use.

  4. Third Party Services

    You acknowledge and agree that the Company may engage third party partners and providers in order to deliver you the Services. Certain Website or App functionality may make available access to information, products, services and other materials made available by third parties (“Third Party Materials”), or allow for the routing or transmission of such Third Party Materials, including via links. By using such functionality, you are directing us to access, route and transmit to you the applicable Third Party Materials.

    We neither control nor endorse, nor are we responsible for, any Third Party Materials, including the accuracy, validity, timeliness, completeness, reliability, integrity, quality, legality, usefulness or safety of Third Party Materials, or any intellectual property rights therein. Certain Third Party Materials may, among other things, be inaccurate, misleading or deceptive. Nothing in this Agreement shall be deemed to be a representation or warranty by us with respect to any Third Party Materials. We have no obligation to monitor Third Party Materials, and we may block or disable access to any Third Party Materials (in whole or part) through the Website or App at any time. In addition, the availability of any Third Party Materials through the Website or App does not imply our endorsement of, or our affiliation with, any provider of such Third Party Materials, nor does such availability create any legal relationship between you and any such provider.

    Your use of Third Party Materials is at your own risk and is subject to any additional terms, conditions and policies applicable to such Third Party Materials (such as terms of service or privacy policies of the providers of such Third Party Materials).

6. Limitations on Liability and Other General Terms

  1. Limitation on Wise’s Liability

    SOME PROVINCES AND TERRITORIES DO NOT PROVIDE EXCLUSION OF LIMITATION OF LIABILITY FOR ALL TYPES OF DAMAGES (INCLUDING THE PROVINCE OF QUEBEC). IN THOSE PROVINCES, WISE WILL ONLY BE LIABLE TO YOU FOR DAMAGES THAT WE ARE EXPRESSLY REQUIRED TO BE LIABLE TO YOU UNDER APPLICABLE LAW.

    IN ANY OTHER CASE, YOU EXPRESSLY UNDERSTAND AND AGREE THAT IN NO EVENT SHALL WE (INCLUDING FOR GREATER CERTAINTY, OUR PARENT AND AFFILIATES), AND THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF WISE, (INCLUDING FOR GREATER CERTAINTY OUR PARENT OR OUR AFFILIATES) BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL, INDIRECT, OR CONSEQUENTIAL, OR PUNITIVE DAMAGES (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF DATA OR LOSS OF BUSINESS) ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, THE SERVICES, OR THIS CUSTOMER AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE). OUR LIABILITY (INCLUDING FOR GREATER CERTAINTY, THE LIABILITY OF OUR PARENT AND AFFILIATES), AND OUR (AND THEIR RESPECTIVE) OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES. IN ADDITION, TO THE EXTENT PERMITTED BY APPLICABLE LAW, WISE (INCLUDING FOR GREATER CERTAINTY OUR PARENT AND AFFILIATES) AND OUR (AND THEIR RESPECTIVE) OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND SUPPLIERS ARE NOT LIABLE, AND YOU AGREE NOT TO HOLD THESE PARTIES RESPONSIBLE, FOR ANY DAMAGES OR LOSSES (INCLUDING, BUT NOT LIMITED TO, LOSS OF MONEY, GOODWILL, OR REPUTATION, PROFITS, OR OTHER INTANGIBLE LOSSES OR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES) RESULTING DIRECTLY OR INDIRECTLY FROM: (A) YOUR USE OF OR YOUR INABILITY TO USE WISE’S SITES AND SERVICES; (B) DELAYS OR DISRUPTIONS IN WISE’S SITES AND SERVICES; (C) VIRUSES OR OTHER MALICIOUS SOFTWARE OBTAINED BY ACCESSING WISE’S SITES OR SERVICES OR ANY SITE OR SERVICE LINKED TO WISE’S SITES OR SERVICES; (D) GLITCHES, BUGS, ERRORS, OR INACCURACIES OF ANY KIND IN WISE’S SITES OR SERVICES OR IN THE INFORMATION AND GRAPHICS OBTAINED FROM THEM; (E) THE CONTENT, ACTIONS, OR INACTIONS OF THIRD PARTIES; (F) A SUSPENSION OR OTHER ACTION TAKEN WITH RESPECT TO YOUR ACCOUNT; (G) YOUR NEED TO MODIFY PRACTICES, CONTENT, OR BEHAVIOR, OR YOUR LOSS OF OR INABILITY TO DO BUSINESS, AS A RESULT OF CHANGES TO THIS AGREEMENT OR WISE’S POLICIES. WISE RESERVES THE RIGHT TO MODIFY ITS POLICIES AND THIS CUSTOMER AGREEMENT AT ANY TIME CONSISTENT WITH THE PROVISIONS OUTLINED HEREIN.

  2. Service Availability

    We will try to make sure our Services are available to you when you need them. However, we do not guarantee that our Services will always be available or be uninterrupted. We have the right to suspend, withdraw, discontinue or change all or any part of our Service without notice. We will not be liable to you if for any reason our Services are unavailable (in whole or in part) at any time or for any period. You are responsible for making all arrangements necessary for you to have access to the Services (including all hardware and telecommunications services).

  3. No Warranty

    SOME PROVINCES AND TERRITORIES DO NOT ALLOW FOR THE EXCLUSION OF WARRANTIES (INCLUDING THE PROVINCE OF QUEBEC). IN THESE PROVINCES AND TERRITORIES, YOU HAVE ONLY THE WARRANTIES THAT ARE EXPRESSLY REQUIRED TO BE PROVIDED IN ACCORDANCE WITH APPLICABLE LAW.

    IN ALL OTHER PROVINCES AND TERRITORIES, EXCEPT AS EXPRESSLY PROVIDED HEREIN, WISE, OUR EMPLOYEES AND OUR SUPPLIERS PROVIDE THE SERVICES “AS IS” AND WITHOUT ANY WARRANTY OR CONDITION, EXPRESS, IMPLIED OR STATUTORY. WISE, OUR EMPLOYEES AND OUR SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.

  4. Events Outside of Our Control

    “Wise.com,” “Wise,” and “Borderless,” are all logos related to the Services that are either trademarks or registered trademarks of Wise or Wise’s licensors. You may not copy, imitate, modify or use them without Wise’s prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of Wise. You may not copy, imitate, modify or use them without our prior written consent. You may use HTML logos provided by Wise for the purpose of redirecting web traffic to the Services. You may not alter, modify or change these HTML logos in any way, use them in a manner that mischaracterizes Wise or the Services or display them in any manner that implies Wise’s sponsorship or endorsement. All right, title and interest in and to the Wise Website, any content thereon, the Services, the technology related to the Services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of Wise and its licensors.

  5. Wise is a Payment Service Provider

    Our relationship with you under this Customer Agreement with you is as a payment service provider, and Wise is an independent contractor for all purposes. Wise is not your agent or trustee.

  6. Entire Agreement

    This Customer Agreement, along with any applicable policies and agreements on incorporated herein and on the Wise Website, sets forth the entire understanding between you and Wise with respect to the Services. Certain terms that by their nature should survive, will survive the termination of this Agreement. If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced.

  7. Law and Jurisdiction

    The provision of the Services and any dispute or claim arising out of the provision of the Services is governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein. Any dispute or claim arising out of or in connection with the Service, this Customer Agreement, or use of the Website will be subject to the non-exclusive jurisdiction of the courts of the Province of Ontario.

  8. Language

    The parties have agreed that this Customer Agreement and any related documents will be written in the English language. Les parties ont convenu que ce contrat et ses accessoires soient rédigés en anglais.

  9. Other Information About this Customer Agreement

    • You may not transfer or assign any rights or obligations you have under this Customer Agreement without Wise prior written consent. Wise may transfer or assign this Customer Agreement or any right or obligation under this Customer Agreement at any time.
    • Each of the paragraphs of this Customer Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect. If we delay in asking you to do certain things or in taking action, it will not prevent us taking steps against you at a later date.
    • Our failure to act with respect to a breach of any of your obligations under this Customer Agreement by you or others does not waive our right to act with respect to subsequent or similar breaches.
    • This Customer Agreement, including any terms and conditions incorporated herein, is the entire agreement between you and us relating to the subject matter hereof, and supersedes any and all prior or contemporaneous written or oral agreements or understandings. This Agreement is between you and us. No other person shall have any rights to enforce any of its terms. This Agreement does not, and shall not be construed to, create any partnership, joint venture, employer-employee, agency or franchisor-franchisee relationship between you and us.