If you’re sending more than 1,000,000 JPY or equivalent amount in any currency that Wise supports, and your profile address is based in Japan, we are using our Type 1 licence to move your money.
Learn more about Type 1 transfers
This page helps you understand what happens when a Type 1 transfer is delayed or refunded.
My Type 1 transfer is delayed. What happens now?
If we’re able to finish your transfer within the original estimated time we gave you, your money will be sent normally. You will receive notifications in-app and via email depending on your notification preferences, and the status of your transfer will change to Sent. This is the case for the vast majority of Wise transfers.
But if we haven’t been able to move your money on time, and the original estimated transfer time has passed, we will need to initiate a refund. You'll receive notifications in-app and via email depending on your notification preferences, and the status of your transfer will change to Refund initiated. Wise is not able to keep this money regardless of your preferences: we must always refund a delayed Type 1 transfer.
How will refunds work for Type 1 transfers?
Refunds for Type 1 transfers work just like normal Wise refunds, with the following differences:
Where we refund your money
When you send money through a Type 1 transfer, we will always collect your bank account refund information beforehand. Please make sure to fill this information correctly.
Wise will immediately initiate a refund, but it might take some time for your refund to arrive. If you paid in with a card, we will first try a refund to your card.
If we’re unable to refund your money to the account you indicated, we will send you a notification, and you will be able to correct your refund details online or in the Wise app.
Charges for refunded transfers
In the unlikely event that we need to refund your Type 1 transfer, we will not charge you for the refund or for the transfer.
But we won't be able to refund any fees incurred outside of Wise — for example Swift fees or fees charged by the bank you used to pay for your transfer.
My Type 1 transfer was refunded. What now?
We are truly sorry that your Type 1 transfer was refunded, and we apologise for the inconvenience. Because of Type 1 regulation, we have no choice but to refund the very limited number of transfers that exceed our original estimated transfer time.
If you set up the same transfer with Wise, we will take into account that your initial transfer was refunded, and we will give you a new transfer estimate. This estimate will be slightly longer than what you’re used to, which also means that your follow-up transfer is extremely likely to succeed. It is very likely that your transfer will arrive ahead of time in this case.
Unfortunately, because of regulations, we cannot create a follow-up Type 1 transfer automatically. If you want to create a follow-up Type 1 transfer, you should:
Log into your Wise account
Choose the transfer that was refunded
Choose Set up transfer
You’ll have a chance to review all the details before you confirm the transfer and pay your money in again.