Article 1 (The Company and its Affiliates)
- The Company is a Funds Transfer Service Provider registered with the Prime Minister under the Payment Services Act (Act No. 59 of June 24, 2009; hereinafter referred to as the “Payment Services Act”) (Registration No.: Kanto Local Finance Bureau No.: 00040). The Service provided by the Company is a service related to multi-currency accounts opened by users in Japan. Any services related to multi-currency accounts opened by users outside of Japan or payments to foreign countries are provided by TransferWise Ltd., with its registered address at TEA Building 56 Shoreditch High Street London E16JJ (Company No. 07209813) (hereinafter referred to as “TW”).
- TW is an electronic money institution, which differs from a bank. TW has been registered as a money services business provider by Her Majesty’s Revenue and Customs in England and Wales and provides funds transfer services and e-money accounts under the supervision of the Financial Conduit Authority. The applications (including smartphone applications) and other services (API, web services), which are provided by the Company and TW, are collectively referred to as “services”.
- The main business of TW is the provision of international funds transfer services.
Trading address: 6th Floor TEA Building 56 Shoreditch High Street London E16JJ, UK
Article 2 (Handling of Personal Information)
- We will handle users’ personal information in accordance with our "Basic policy on the safety management of personal data" and "User information handling regulations".
- We shall take the necessary technical measures to protect users’ personal information and strive to retain personal information in strict confidence. We will store users’ passwords in encrypted form, and protect personal information transferred between our website and users' browsers using SSL encryption. Users shall verify our server certificate in their browser when sending personal information to us.
- Unless legally required, we shall not provide users’ information including account information, addresses and e-mail addresses, to any third parties, with the following exceptions:
- Affiliates, subcontractors and other business partners (identity verification services, delivery destinations, etc.)
- Advertising and system partners (only with your prior consent)
- Analytics tools and advertising optimization companies (only with your prior consent)
- Our group companies including TW
- We will use personal information collected from users for the following purposes:
- To verify users’ identities during the registration process
- To process your funds transfers or otherwise provide the Service
- To share with third parties in the operational processes set forth in section 3 of this Article
- To conduct analysis or verification for the purpose of preventing transfers of criminal proceeds, or to submit or report to the competent authorities or other public institutions for the aforementioned purpose
- To reply and respond to inquiries from users
- To explain the content of the Service to users
- To conduct analysis aimed at improving the Service
- To create backup data
- To implement internal controls or audits
- To provide information regarding new service offering by the Company or its affiliates
- To do other business incidental to those listed above
- Users may request disclosure of their own personal information retained by the Company. Users wishing to be notified of the purpose of use of personal information, or requesting the disclosure of, correction to, addition to, deletion of, suspension of use of, removal of, or suspension of provision to third parties of their personal information are requested to contact our Customer Service Center.
Article 3 (Transaction History)
With respect to transactions using a multi-currency account, you may access your past transaction history by logging into our website and clicking the "Account" tab.
Article 4 (Prohibition of Duplicate Accounts)
We may reject the registration of multiple accounts by a single user for operational efficiency and user identification reasons. We reserve the right to close or merge multiple accounts created by a single user without prior notice.
Article 5 (Eligibility)
- Use of the Service by persons under 18 years of age is prohibited. Accounts registered by users who have misrepresented their age shall be invalid.
- Users who have registered to use the Service as an individual may not permit a third party to use the Service from such account. In addition, users are strictly prohibited from using the Service on behalf of a third party.
Article 6 (Identity Verification)
- We will perform the identity verification prescribed in the Payment Services Act and other relevant laws and regulations prior to use of the Service from the standpoint of preventing crimes such as money laundering. Users must submit their identity verification documents set out by the Company in the manner specified by the Company at this time. Users must provide true, accurate and up-to-date information to the Company, as well as changes to the information already provided, if any.
- We reserve the right to access information stored in various public and private databases in order to verify users’ identities pursuant to the preceding section.
- We reserve the right to refuse user registration and funds transfer requests at our discretion, taking into consideration the information referred to in the two preceding sections and any other additional information.
Article 7 (Description of the Service)
- You may maintain funds in, and make transfers to and from your multi-currency account.
- The account balance remains available as long as the account remains open and valid.
- No interest will accrue.
- The balance may be maintained in multiple currencies offered by the Company.
- You may withdraw funds from your account balance to your registered financial institution.
- The amount of funds that can be uploaded to an account located in Japan is limited to one million yen (¥1,000,000) per transaction. *If the uploaded amount exceeds one million yen (¥1,000,000), the entire amount needs to be returned to your financial institution. You may be responsible for fees incurred in such process. Additional restrictions may apply to the amounts of funds that can be uploaded into or received by an overseas account pursuant to the laws and regulations of the respective jurisdictions.
- Only the customers who opened the multi-currency accounts may access the balance in such accounts or use other services. By verifying their identities through the multi-currency account IDs and passwords, we deem that the account balance is accessed and services are used by the authorized customers who opened such multi-currency accounts.
- The Service may not be offered for use by third parties.
Article 8 (How to use the Service)
(Your multi-currency account and how to upload funds for transfers)
- In order to transfer funds from your multi-currency account, you need to log into your multi-currency account and follow the steps as they appear on screen to complete the transaction process. You may choose the upload methods, such as wire transfer from your bank, payment from a debit card. These upload methods are services offered by third party financial institutions, and not by us. We assume no liability with respect to any services offered by your financial institutions. The upload methods are subject to change in the future.
- If the financial institution you use for uploading funds offers a chargeback function (a process through which the card company returns funds to your card), you may use such function solely under the following circumstances:
You may not use a chargeback function for reasons not attributable to us, such as your financial status or disputes with payees. We reserve the right to deduct damages for losses we incurred for the reasons mentioned above from your multi-currency account balance.
- We have violated the agreement;
- You have noticed a transaction which you do not recognize.
- The maximum amount of funds which can be retained in your multi-currency account may be limited by the laws of the respective jurisdictions or for security purposes.
- Funds which you have uploaded will be reflected in your multi-currency account as soon as we confirm the receipt. If a debit card is selected as the upload method and we are unable to confirm the receipt of funds after the amount has already been reflected in the multi-currency account balance, we may deduct the necessary funds from the balance. If there are no sufficient funds in the account balance, we reserve the right to charge you for the deficiency.
(Receiving funds in your multi-currency account)
- You may receive funds in your multi-currency accounts. You shall permit the Company, TW and our foreign affiliates to act as your representatives to receive funds. All transaction history records will be kept, and you shall submit documents to verify the source of funds and other relevant information. You need to verify all the uploading transactions regularly and to notify us promptly of any transactions which you do not recognize or any other suspicious transactions.
- Funds received by you in your account may be returned to the payee under certain circumstances. In cases where a return of funds is requested by the payee, settlement provider, etc., such funds may be deducted from the account balance.
(Managing your multi-currency account)
- All transactions pertaining to your multi-currency account are recorded. You can review such transaction records after logging into our service. Each transaction will have a transaction number which must be presented when you need to contact our customer support regarding a transaction.
- You shall regularly review all your transactions. You shall promptly notify us of any transactions which you do not recognize or any other suspicious transactions. You are not entitled to correct any errors after thirteen (13) months has elapsed.
- You may maintain the balance in your multi-currency account in multiple currencies. In such cases, you are deemed to have understood all risks including foreign exchange risks. Furthermore, the Service may not be used for the purpose of foreign currency exchange transactions.
- You need to maintain a positive balance in your multi-currency account by taking into account any chargebacks, withholding fees and other relevant transactions. You need to upload additional funds promptly as needed in the event of a negative balance. You will be responsible for any and all additional fees incurred in such process.
- You need to manage and report taxes associated with your multi-currency account to the competent tax authorities pursuant to the laws and regulations of the respective jurisdictions.
- We may charge a set up fee for setting up a multi currency account. Please refer to our website for our current fees.
(Transferring funds from your multi-currency account)
- You may transfer all or part of the funds to other multi-currency accounts or bank accounts of your designated payees after logging into our service. There is no transfer fee for transfers to other multi-currency accounts, but certain fees will apply to transfers to the payees’ bank accounts. In addition, a currency exchange fee will apply to transfers in different currencies. Please refer to our website for our current fees.
- You can choose to transfer funds using one of our prescribed methods.
- You need to provide us with accurate payee information. If we transfer funds based on incorrect information provided by you and the funds are returned, we may contact you to request accurate payee information.
- The maximum amount of funds that can be transferred may be limited due to security concerns. If the transfer amount exceeds the upper limit, the transaction may be suspended and we may request you to provide additional documents pertaining to the transfer.
(Withdrawing from your multi-currency account)
- You may request to withdraw all or part of the funds after logging into our service. A withdrawal fee will apply to withdrawals. The amount of the withdrawal fee will be specified when the withdrawal request is made. Please refer to our website for our current fees. We will transfer the balance in Japanese yen after deducting the withdrawal fee to an account held in your name at a financial institution. If the requested withdrawal amount exceeds the account balance, we may decline such request.
- You can choose to withdraw funds using one of our prescribed methods, including bank transfer.
- Withdrawal methods are services offered by banks and other financial institutions, and not by us.
- You need to provide us with accurate information regarding the receiving financial institution. If we transfer funds based on incorrect information provided by you and the funds are returned, we may contact you to request correct information regarding the financial institution.
- The maximum amount of funds that can be withdrawn may be limited due to security concerns. If the withdrawal amount exceeds the upper limit, the transaction may be suspended and we may request you to provide additional documents pertaining to the withdrawal.
Article 9 (Use of the Service by Registered Users)
- Users wishing to use the Service for the first time to make a funds transfer must register for the Service. Unless users’ identities have already been verified prior to using the overseas funds transfer service, the user registration procedures will be completed upon verification of the identities pursuant to Section 1 of Article 6. Registered users will not be required to submit identity verification documents each time for subsequent funds transfers following the completion of the user registration.
- Users wishing to register for the Service must select a user ID and password. Users shall strictly manage their user ID and password at their own responsibility to ensure their user ID and password are not known to any third parties. We assume no liability for any damage suffered by users as a result of a third party coming to know their user ID and password.
- The term of the agreement with respect to users who have registered for the Service shall be three (3) years. The agreement shall automatically be renewed for a further period of three (3) years unless the users request the cancellation of the agreement prior to the expiration thereof, and the same shall apply thereafter.
- Users will not be charged any cancellation fee, etc. even if they requested cancellation of the agreement prior to the expiration thereof.
- Registered users may check the status of funds transfers on their user transaction confirmation page following the submission of such transfer requests.
Article 10 (Users’ obligations)
- Multi-currency account customers have responsibility to provide accurate information when opening, managing or using the account, or submitting funds transfer or withdrawal requests. Funds transfers cannot be cancelled once transfer requests have been processed. We assume no liability in any way for any damage suffered by users as a result of funds transfers processed in accordance with your instructions.
- Users noticing any unexpected consequences when sending or receiving funds using the Service have responsibility to inform us immediately at the following e-mail address:
Users who have received payments exceeding the expected amounts must also immediately notify us so that arrangements can be made to immediately return such overpayment.
- Users shall not use the Service for any unlawful activities. We reserve the right to investigate users’ suspicious activities, complaints, or reported violations. If, as a result of such investigation, we determine that there have been unlawful activities or suspected unlawful activities, we may provide information related to funds transfers including personal information to the competent authorities and other individuals or organizations as necessary.
Article 11 (Transaction Fees, etc.)
- We will charge an uploading, transfer, withdrawal or exchange fee (not exceeding 10% of the amount exchanged, or five thousand yen (¥5,000) in case of small exchange amounts not exceeding ten thousand yen (¥10,000)) for using the Service to upload funds into the multi-currency account, make transfers or withdrawals from the multi-currency account, or exchange different currencies. Please refer to our website for our current transaction fees. The fees applicable to actual transactions will be displayed on the screen.
- You may be obliged to pay an additional refund fee not exceeding twelve hundred yen (¥1,200) under the circumstances listed below. We may deduct such additional fee from your transfer amount:
- When the banks or settlement providers used in providing the Service have refused the funds transfer transactions due to incorrect information provided by users, regulatory requirements or any other valid reasons;
- When your designated payee’s account is invalid, which thereby makes the funds transfer impossible; or
- In the events set forth in section 6 of Article 8.
- In the event that the details of funds transfers have been modified following the formation of the remittance service agreement pursuant to section 1 of Article 7, you may be obliged to pay an additional fee not exceeding twelve hundred yen (¥1,200) for such modification. We may deduct such additional fee from your transfer amount.
Article 12 (Standard processing time)
The time required for funds uploaded into a multi-currency account to be reflected in the multi-currency account balance is generally one (1) business day. The time required for a transfer or withdrawal from a multi-currency account varies depending on the country in which the payee’s bank is located. The actual time required for each transfer or withdrawal will be displayed on the screen when each request is submitted. Funds are received generally within the displayed time period. However, there are occasions where transfers may be delayed due to incorrect payee information or examination by the recipient country or financial institution for money laundering, etc. regarding the receipt of such funds. We assume no liability to users or payees for any delays caused by such reasons.
Article 13 (Outsourcing)
We may outsource operations required for the performance of the Service to third parties as we deem necessary.
Article 14 (Communication between users and the Company)
Article 15 (Disclaimer)
- We assume no liability for any damage suffered by users as a result of our inability to complete funds transfers or delayed transfers, as a consequence of disruptions and delays in Internet communications, force majeure such as disasters, incidents or war, etc., legal restrictions, measures implemented by the government, courts or other public institutions, or any other circumstances not attributable to us.
- We reserve the right to suspend or interrupt provision of the Service without prior notice to users if we deem it necessary to carry out system maintenance or as a result of failures in communications lines, means of communication or computers, etc. We assume no liability for any damage suffered by users as a result of such suspension or interruption of the provision of the Service.
- We assume no liability for any damage suffered by users as a result of our refusal to provide the Service pursuant to Article 21.
Article 16 (Issuance of Receipts)
- In the event that the remittance service agreement is formed pursuant to Article 7 and the remitter submits a remittance request, we will issue a receipt to the remitter detailing the contents of the remittance request and the remittance amount, etc.
- The receipt prescribed in the preceding section will be provided to the remitter electromagnetically.
Article 17 (Prevention of Confusion with Foreign Exchange Transactions by Banks, and others)
Users shall use the Service while understanding the following:
- The Service differs from foreign exchange transactions carried out by banks and others;
- The Service does not constitute our acceptance of deposits, savings or fixed time deposits;
- The Service is not subject to the payment of insurance proceeds prescribed in Article 53 of the Deposit Insurance Act or Article 55 of the Agricultural and Fishery Cooperation Savings Insurance Act;
- We have implemented measures to protect the full amount of the balance in users’ multi-currency accounts pursuant to the Payment Services Act, through a trust agreement with JSF Trust and Banking Co., Ltd.;
- You are entitled to receive refunds through the security deposit system established for the purpose of protecting users under the Payment Services Act; and
- Users must open a multi-currency account to become eligible for the refunds set forth in the preceding section.
Article 18 (Contact for Customer Complaints and Inquiries)
Address: 1-6-1 Otemachi, Chiyoda-ku, Tokyo, 100-0004 Japan
Customer Support: Email: firstname.lastname@example.org TEL: 03-4589-4624
Complaints & other inquiries: TEL: 03-4405-9606
Business hours: 9:00 - 17:00 (Monday to Friday. Closed on weekends and public holidays)
Article 19 (Exclusion of Anti-Social Forces)
- You represent and affirm that neither you nor the business partners designated by users are or will be in the future any of the following:
- An organized crime group;
- A member of an organized crime group;
- A quasi member of an organized crime group;
- A company related to an organized crime group;
- A corporate racketeer, group engaging in criminal activities under the pretext of conducting social campaigns, or crime group specialized in intellectual crimes; or
- Any other party equivalent to any of those listed above.
- Users covenant that they will not engage in the following acts either themselves or by employing a third party:
- Making violent demands;
- Making unreasonable demands beyond the scope of legal responsibility;
- Using threatening words or actions or resorting to violence in connection with transactions;
- Damaging our credit by circulating rumors or utilizing fraudulent means or power, or interfering with our business; or
- Any other acts equivalent to any of those listed above.
Article 20 (Handling of Complaints and Dispute Resolution)
Following external organizations may be used for complaints and disputes concerning the money transfer business. For general inquiries, please contact Wise customer support at Article 18.
Complaint Processing Procedures
Japan Payment Service Association “Customer Hotline”
The process used by the Association to handle inquiries and complaints can be found at the URL below.
Dispute Resolution Procedures
Tokyo Bar Association Dispute Resolution Center Tel: 03-3581-0031
Daiichi Tokyo Bar Association Arbitration Center Tel: 03-3595-8588
Daini Tokyo Bar Association Arbitration Center Tel: 03-3581-2249
Phone: +081 3 3556 6261, 9:30am to 5:30pm (JST) weekdays.
Article 21 (Refusal of Service Provision)
We may, without prior notice, refuse to provide the Service to users if we determine that such users fall under any of the following:
- Users who fall under any of those listed in section 1 of Article 19, who have engaged in any of the acts listed in section 2 of the same Article, or who have been found to have made false representations and affirmations under the provisions of section 1 of the same Article;
- Users in relation to whom we have exercised our right pursuant to section 3 ofArticle 6;
- Users whose registered name or address, etc. does not match the payer’s details (bank account, etc.) in the funds transfer carried out by such users;
- Users whose funds transfer request violates the provisions of laws or any other applicable regulations;
- Users who are using or may use the Service for acts violating the law or contrary to public order and morality;
- Users whose whereabouts are unknown;
- Users whose inheritance has commenced;
- Any other users for whom we deem there to be reasonable grounds for refusal of the Service.
- We assume no liability for any damage arising from a change, abolition or suspension of use set forth in the preceding section.
Article 23 (Prohibition of Assignment or Pledge, etc.)
Article 24 (Finality)
Article 25 (Governing Language)
This agreement has been prepared in Japanese language, and the Japanese language version thereof shall prevail and be binding. The English language translation has been prepared for reference purposes only.
Article 26 (Governing Law and Court of Competent Jurisdiction)
[Customer Service Center for Inquiries regarding the Service]
Business hours: 9:00 - 17:00 (Monday to Friday. Closed on weekends and public holidays)