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EU Group Spending Terms and Conditions

Wise Europe SA/NV

Last updated: 2 December 2024

Other Wise Customer Agreements

IMPORTANT THINGS TO KNOW


  • By using our Group Spending service you agree to these terms and conditions. If you don’t agree, you must not use this service.
  • You should only use Group Spending with people that you know and trust. In the event of a suspected unauthorised payment, you must contact us without delay. Delayed notification could lead to liability for the entire payment amount.
  • If you have any complaints about us or our services, you may contact us following our complaint procedure.

1. About these Terms

These Group Spending terms and conditions (“Terms”) are exclusive to customers who use our Group Spending service as detailed in these Terms. These Terms describe your rights and obligations, and ours, and form a legally binding contract between you and Wise when you use this service. The collection and use of personal data provided to us is governed by our Privacy Policy, and our Customer Agreement, Acceptable Use Policy and Fees and Pricing, and other agreements referred to still apply to your use of this service.

2. What is our Group Spending feature and how does it work

  1. Group Spending is a feature designed for Wise customers who wish to share and spend their finances with other Wise customers, such as friends and family, free of charge.
  2. This feature is connected to your Wise Account and enables the legal owner of a Wise Account (the “Owner”) and the person to whom access is granted (the “Member”) to share a balance for expenditure purposes (“Group Spending” or “Group”).
  3. When a Member accepts a Group Spending invitation, the Member is granted an ordinary Power of Attorney (“PoA”) with respect to the Group.
  4. Each Owner agrees that by sharing their balance with a Member, they are granting them a PoA on the Group Spending.
  5. Wise’s Group Spending service is currently available in the European Economic Area and only to Wise customers. There may be additional countries where this service is available and we may add additional countries at any time, without notice to you.
  6. Each Owner and Member must have a Wise Account in their own name before using Group Spending.
  7. This Agreement allows the Owner and Member(s) to receive a virtual card in their own name linked to the Group (in accordance with our Wise Card Terms); link it to their wallet such as Google Pay or Apple Pay; make in-store or online payments and make ATM withdrawals.
  8. Group Spending is not a joint account. The Owner remains the sole proprietor of the funds at all times. All transactions made through the Group will be deemed to have been made by the Owner.
  9. If the Owner’s account is suspended or closed in line with our Customer Agreement, the Member will not be able to access the Group.
  10. Any spendings and withdrawals are subject to any limits referred to in the Customer Agreement.
  11. The Owner and Member(s) can always see all the transactions from the Group.
  12. The consequences of any form of misuse of the Group, including if either the Owner or Member engage in fraudulent activity, shall be as set out in the Customer Agreement.
  13. Wise reserves the right to add or remove functionalities for Group Spending at any time. Notice will only be provided if the removal of a feature impacts the terms of the Customer Agreement, in accordance with the prescribed notice period.

3. Owners’ Rights and Obligations

  1. The Owner can create multiple Groups, but each one can only be shared with Member(s) from the same jurisdiction (i.e. the country in which Wise is regulated; in the case of the European Union, all Member States count as one jurisdiction).
  2. The Owner can open and close the Group and grant and revoke the PoA at any time and without notice.
  3. The Owner can terminate the Group at any time without providing notice. The Member cannot oppose this decision.
  4. If the Member loses access to the Group for breaching these Terms, the Owner is free to invite a new Member.
  5. The Owner must inform Wise of any event that could have a legal or financial impact on the Group. In the event of a court order or other legal processes such as insolvency procedures, seizures or garnishments, we may be required to take certain actions in line with our Customer Agreement. Such action may include, but is not limited to: placing a reserve or limitation on the Group or releasing the funds on it.
  6. In the event of a Member’s death or documented lack of mental capacity, the PoA will automatically expire, and the Owner is responsible for taking the necessary actions to remove the Member’s access to the Group.

4. Members’ Terms and Conditions

  1. The Member joins the Group voluntarily and can leave it at any time. By leaving the Group, the Member terminates the PoA, but any previous actions carried out will remain valid.
  2. The Member can add funds to the Group; they are only permitted to make transfers from their own balance into the Group, but cannot make transfers out of the Group to their own balance.
  3. The Member cannot share the Group with any other individual and cannot see the Owner’s other balances.
  4. The Member must accept these Terms and is required to inform Wise of the Owner’s death or if the Owner loses their legal capacity, after which, the PoA will expire.
  5. Any PoA will expire in the event of a Member’s death or documented lack of mental capacity.

5. Our responsibility for loss or damage

  1. Unforeseeable loss or damage. We are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time this agreement was entered into, both we and you knew it might happen. For example, a specific loss was discussed during a sign up process.
  2. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for fraud or fraudulent misrepresentation.
  3. We are not liable for business losses. Group Spending is for personal use only and should not be used for any commercial or business purpose.
  4. We are not liable for things which are outside of our control. We cannot be liable for our inability to deliver or delay because of things which are outside our (and our affiliates) control.
  5. We are not liable for any payments made under the PoA.

6. General but important terms

  1. No third party rights. These Terms are between you and us. No other person shall have any rights to enforce any of its terms.
  2. Severability. Each of the paragraphs of these Terms operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining paragraphs will remain in full force and effect.
  3. Governing law. These Terms are governed by Belgian law. Any dispute between you and us in connection with the Group Spending service and/or these Terms shall be brought in the courts of Brussels.