Wise Account Terms of Use (Japan)

Last updated: 1 Apr 2022

These Terms of Use set forth the provision regarding the Wise account service (hereinafter referred to as "Service") provided by Wise, the trading name of Wise Payments Japan K.K. (hereinafter referred to as the “Company”, “we”, “us”, or “our”, as applicable).

Customers opening a Wise account to use the Service are asked to carefully read these Terms of Use when registering to use the Service and agree to all terms and conditions set forth herein before using the Service.

We recommend that all users print out a copy of these Terms of Use to retain as a reference. Customers not agreeing to these Terms of Use may not use the Service.

This is the Company's Terms of Use translated into English. If you prefer, you may also view the original Terms of Use written in Japanese. (日本語版の利用規約はこちらをご確認くださ い。)

Depending on the Services you choose to use with us, additional terms and conditions may apply, as communicated to you at the appropriate time.

Article 1 (The Company and its Affiliates)

  1. The Company is a Type 2 Funds Transfer Services 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).
  2. Wise Payments Limited (hereinafter referred to as "Wise", registered in England and Wales (company number 07209813) with its registered office at 6th Floor TEA Building 56 Shoreditch High Street London E1 6JJ, UK), which provides the Services jointly with the Company, is a payment services provider registered as a money services business by Her Majesty's Revenue and Customs (HMRC) and under the supervision of the United Kingdom Financial Conduct Authority (FCA), and therefore Wise is not a bank.
  3. The main business of Wise 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)

  1. We will handle users’ personal information in accordance with our "Basic policy on the safety management of personal data" and "User information handling regulations".
  2. 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.
  3. Please refer to the following webpage for more information on the Company's privacy policy: https://wise.com/jp/privacy-policy-english. By using our Services, you consent to such collection, use, disclosure, and processing, and you warrant that all data provided by you is accurate.

Article 3 (Transaction History)

With respect to transactions using a Wise 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)

  1. 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.
  2. 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)

  1. 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.
  2. 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.
  3. 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 (Contents of the Service)

  1. You may maintain funds in, and make transfers to and from your Wise account.
  2. The account balance remains available as long as the account remains open and valid.
  3. No interest will accrue.
  4. The balance may be maintained in multiple currencies offered by the Company.
  5. You may withdraw funds from your account balance to your registered financial institution.
  6. 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.
  7. Only the customers who opened the Wise accounts may access the balance in such accounts or use other services. By verifying their identities through the Wise account IDs and passwords, we deem that the account balance is accessed and services are used by the authorized customers who opened such Wise accounts.
  8. The Service may not be offered for use by third parties.

Article 8 (How to use the Service)

(Your Wise account and how to upload funds for transfers)

  1. In order to transfer funds from your Wise account, you need to log into your Wise 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.
  2. 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:
    1. We have violated the agreement;
    2. You have noticed a transaction which you do not recognize.
    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 Wise account balance.
  3. The maximum amount of funds which can be retained in your Wise account may be limited by the laws of the respective jurisdictions or for security purposes.
  4. Funds which you have uploaded will be reflected in your Wise 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 Wise 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.
  5. (Receiving funds in your Wise account)

    1. You may receive funds in your Wise accounts. You shall permit the Company, Wise 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.
    2. 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 Wise account)

    1. All transactions pertaining to your Wise 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.
    2. 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.
    3. You may maintain the balance in your Wise 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 or non-remittance or non-payment.
    4. Negative balances. If your Wise Account goes into a negative amount, including as a result of a chargeback, reversal of a transaction, deduction of fees or any other action carried by you or a third party, that negative amount represents an amount you owe to Wise and you promise to repay the negative amount immediately without any notice from us. We may send you reminders or take such other reasonable actions to recover the negative amount from you, for example, we may use a debt collection service or take further legal actions. We may charge you for any costs we may incur as a result of these collection efforts.
    5. You need to manage and report taxes associated with your Wise account to the competent tax authorities pursuant to the laws and regulations of the respective jurisdictions.
    6. 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 Wise account)

    1. You may transfer all or part of the funds to other Wise accounts or bank accounts of your designated payees after logging into our service. There is no transfer fee for transfers to other Wise 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.
    2. You can choose to transfer funds using one of our prescribed methods.
    3. 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.
    4. 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 Wise account)

  6. 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.
  7. You can choose to withdraw funds using one of our prescribed methods, including bank transfer.
  8. Withdrawal methods are services offered by banks and other financial institutions, and not by us.
  9. 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.
  10. 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 (Refund of User’s Funds in Wise Account)

  1. Based on the laws and regulations related to the Fund Transfer Business, the user shall not hold funds in own Wise Account that are deemed not to be used for payment transactions under the services related to the Type 2 Funds Transfer Service provided by the Company.
  2. If the amount of funds held in the user’s Wise Account exceeds 1 million yen, the Company may collect information on the funds such as purposes from the user to judge whether the funds are deemed for foreign exchange transactions such as payments (hereinafter referred to as "payment funds").
  3. If the Company determines that the funds held in the user's Wise Account are deemed not payment funds by the assessment means set by the Company, the funds shall be returned to the bank account in the name of the user’s that is registered in the Wise Account.
  4. If the fee of bank transaction for refund exceeds the amount of the funds to be refunded, the user shall pay the fee separately.
  5. Even if the refund cannot be made because the user does not pay the fee of bank transaction for refund, or if the refund cannot be made to the bank account specified by the user for other reasons, the Company shall not bear any damages incurred by such case.

Article 10 (Use of the Service by Registered Users)

  1. The Remitters using the Services for the first time will be required to register for the Services if remitting an amount in excess of 100,000 yen. Said user registration procedures will be completed upon verification of the Remitter's identity through the Remitter's submission of the identity verification documents detailed in paragraph 1 of Article 6 to the Company and the sending of transfer nonforwardable registered mail to the address or location of the Remitter, etc. Registered users will not be required to submit identity verification documents each time they subsequently make a remittance.
  2. The Users registering for the Services will specify a user ID and password. The Users shall strictly manage their user ID and password on their own responsibility to ensure their user ID and password are not known to any third party. The Company assumes no liability for any damage suffered by Users as a result of a third party coming to know the User's user ID and password.
  3. The term of the agreement for the Users registering for the Services shall be three (3) years. The agreement shall automatically be renewed for a further three (3) years provided the Users have not requested cancellation of the agreement during its term, and the same shall apply thereafter.
  4. The Users will not be charged any cancellation fee, etc. in the event they have requested cancellation of the agreement during its term.
  5. Registered Users can check remittance details, etc. on their user transaction confirmation page.

Article 10-2 (Use of the Service by Unregistered Users)

  1. The Remitters who are not registered Users may remit amounts of 100,000 yen or less without the need to complete user registration procedures. However, it should be noted that verification of the Remitter's identity through the identity verification documents detailed in paragraph 1 of Article 6 is still required in this case.
  2. Unregistered Users wishing to check remittance details, etc. may do so online using the query ID issued by the Company.

Article 11 (User Obligations)

  1. The Remitters are responsible for ensuring that the information provided at the time of submitting a remittance request is accurate. Transactions cannot be cancelled once a remittance request has been executed by the Company. The Company assumes no liability in any way for any loss suffered by the Users as a result of transactions executed in accordance with the instructions of the Remitter.
  2. The Users noticing any abnormality when sending or receiving a remittance utilizing the Services shall be obliged to inform the Company immediately via the following:
    Inquiry Form:
    https://wise.com/ja/help/contact
    Customer Support (phone):
    0800-080-4317 (Toll Free) / 050-3161-3745 (Paid)
    The Users who have received a payment over and above what they were expecting must immediately notify the Company so that arrangements can be made to immediately return any overpayment.
  3. The Users shall not use the Services for unlawful activity. The Company reserves the right to investigate any suspicious activity or unlawful activity of the Users in response to any complaints or reported violations. If, as a result of its investigation, the Company determines that there have been unlawful activity or suspected unlawful activity, the Company shall be entitled to provide information related to remittances, including personal information, to regulatory agencies and other individuals or organizations as necessary.

Article 12 (Transaction Fees, etc.)

  1. The Company will charge a transaction fee ranging from one (1) yen to ten percent (10%) of the remittance amount on each remittance transaction made utilizing the Services. The actual transaction fee will be displayed on the screen when a remittance request is made.
  2. 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:
    1. 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;
    2. When your designated payee’s account is invalid, which thereby makes the funds transfer impossible; or
    3. In the case set forth in Article 8.
  3. 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 13 (Standard Performance Period)

The standard performance period up until receipt of the money in the Payee's account may vary depending on the country in which the Payee's bank account is located. The detailed performance period will be displayed on the screen when a remittance request is made.

Article 14 (Outsourcing)

We may outsource operations required for the performance of the Service to third parties as we deem necessary.

Article 15 (Communication between the Users and the Company)

Circumstances may arise that necessitate the exchange of information in writing between the Company and users. For this reason, users shall, upon agreeing to these Terms of Use, agree to exchange information electromagnetically with us by way of either e-mail or notification on our website.

Article 16 (Disclaimer)

  1. 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.
  2. 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.
  3. 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 17 (Compensation)

  1. Notwithstanding the provisions of Article 16 above, when theft of your device on which you use this service or the theft or fraud of information related to your password or other reasons and when the TWJ determines the stolen device or password has been illegally used by a third party, TWJ will compensate in accordance with our “Compensation Policy” if you performs all the procedures in the “Compensation Policy.”
  2. Please refer to the "Compensation Policy" for the detailed compensation system of TWJ such as the method of filing a compensation request, cases that are not covered, etc. By using our service, you agree to the "Policy of Compensation for Damages by Frauds, etc.".

Article 18 (Issuance of Receipts)

  1. 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.
  2. The receipt prescribed in the preceding section will be provided to the remitter electromagnetically.

Article 19 (Prevention of Confusion with Foreign Exchange Transactions Performed by Banks, etc)

Users shall use the Service while understanding the following:

  1. The Service differs from foreign exchange transactions carried out by banks and others;
  2. The Service does not constitute our acceptance of deposits, savings or fixed time deposits;
  3. 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;
  4. We have implemented measures to protect the full amount of the balance in users’ Wise accounts pursuant to the Payment Services Act, through a trust agreement with JSF Trust and Banking Co., Ltd.;
  5. You are entitled to receive refunds through the security deposit system established for the purpose of protecting users under the Payment Services Act; and
  6. Users must open a Wise account to become eligible for the refunds set forth in the preceding section.

Article 20 (Contact Address Responding to Complaints and Requests for Consultation from the Users)

Address: 1-6-1 Otemachi, Chiyoda-ku, Tokyo, 100-0004 Japan
Customer Support: Inquiry Form or Phone: 0800-080-4317 (Toll Free) / 050-3161-3745 (Paid)
Business hours: 9:00 - 17:00 (Monday to Friday. Closed on weekends and public holidays)

Article 21 (Elimination of Anti-Social Forces)

  1. 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:
    1. An organized crime group;
    2. A member of an organized crime group;
    3. A quasi member of an organized crime group;
    4. A company related to an organized crime group;
    5. A corporate racketeer, group engaging in criminal activities under the pretext of conducting social campaigns, or crime group specialized in intellectual crimes; or
    6. Any other party equivalent to any of those listed above.
  2. Users covenant that they will not engage in the following acts either themselves or by employing a third party:
    1. Making violent demands;
    2. Making unreasonable demands beyond the scope of legal responsibility;
    3. Using threatening words or actions or resorting to violence in connection with transactions;
    4. Damaging our credit by circulating rumors or utilizing fraudulent means or power, or interfering with our business; or
    5. Any other acts equivalent to any of those listed above.

Article 22 (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 20.

  1. Complaint Processing Procedures
    Japan Payment Service Association “Customer Hotline”
    Tel: 03-3556-6261
    The process used by the Association to handle inquiries and complaints can be found at the URL below.
    www.s-kessai.jp/consumer/giftcard_prica_netprica/funds_consumer_inquiry_cg.html
  2. 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 23 (Refusal of Services 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:

  1. Users who have violated laws or these Terms of Use;
  2. Users who fall under any of those listed in section 1 of Article 21, 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;
  3. Users in relation to whom we have exercised our right pursuant to section 3 ofArticle 6;
  4. 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;
  5. Users whose funds transfer request violates the provisions of laws or any other applicable regulations;
  6. Users who are using or may use the Service for acts violating the law or contrary to public order and morality;
  7. Users whose whereabouts are unknown;
  8. Users whose inheritance has commenced;
  9. Any other users for whom we deem there to be reasonable grounds for refusal of the Service.

Article 24 (Change to or Abolition of these Terms of Use)

  1. We may, at our own discretion, change the contents of or abolish these Terms of Use and the Service, as a consequence of changes in economic conditions or any other reasonable circumstances. We may also suspend use of the Service in whole or in part to facilitate the said change or abolition.
  2. We assume no liability for any damage arising from a change, abolition or suspension of use set forth in the preceding section.
  3. We will notify users of any change to the contents or abolition of these Terms of Use and the Service on our website.

Article 25 (Prohibition of Assignment or Pledge, etc.)

You may not assign, loan, pledge or otherwise establish any right for a third party, or make available for use by a third party, your contractual status or any other rights pertaining to the Service under these Terms of Use.

Article 26 (Finality)

These Terms of Use or expressly cited provisions constitute the agreement between the Company and users in its entirety and take precedence over any prior written or oral agreement between the parties hereto with respect to the subject matter hereof.

Article 27 (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 28 (Governing Law and Court of Competent Jurisdiction)

These Terms of Use and the Service shall be governed by and construed in accordance with the laws of Japan. The Tokyo District Court shall have the exclusive jurisdiction to hear any litigation arising between the Company and users at the first instance.

Article 29 (Confirmation regarding Restrictions under the Foreign Exchange and Foreign Trade Act)

According to the Foreign Exchange and Foreign Trade Act (hereinafter referred to as the "Foreign Exchange Act"), financial institutions and fund transfer service providers are obligatory to confirm that they do not fall under the regulated transactions under the Foreign Exchange Law when accepting foreign exchange transactions from customers. The Users shall use the Services with a confirmation and consent that none of transactions are subject to the following regulation under the Foreign Exchange Act.

Regulated transactions:

  1. Regulations on trade
    • Import and intermediary trade remittance of cargo originating or in the shipping area of North Korea, Autonomous Republic of Crimea or city of Sevastopol, or Donetsk People’s Republic or People’s Republic of Luhansk.
    • Intermediary trade remittance for cargo destined for North Korea
  2. Regulations on sanctions
    • Payment to terrorists and other persons subject to asset freezing specified by the Foreign Exchange and Foreign Trade Act (Specific target persons are published on the website of the Ministry of Finance.)
    • Payment to natural persons who have an address or residence in North Korea
    • Payment to corporations / organizations that have a main office in North Korea and corporations / organizations under their substantive control
  3. Regulations on remittance purposes
    • Remittance for the purpose of contributing to North Korea's nuclear-related activities, etc.
    • Remittance for the purpose of contributing to Iran's nuclear-related activities
    • Payment for business activities in foreign countries such as fisheries, leather or leather products, weapons, weapon manufacturing related equipment, drug-related unions, etc
    • Payment for issuance and distribution of new securities in Japan by the Government of Russian Federation and other designated organizations.