Terms and Conditions (Wise Pilipinas Inc.)

Last updated: 30 January 2023

Consumers are advised to read and understand the applicable Terms and Conditions when considering a product or service.

The headings are for reference only. Some capitalised terms have specific definitions in the Glossary. Underlined words in this Agreement contain hyperlinks to further information.


1. Welcome to Wise

1.1 This Agreement. This is the contract between you, the “User”, and Wise Pilipinas Inc., which defines the terms and conditions on which we provide our Services to you (“Agreement”). This Agreement refers to and incorporates by reference the following additional documents (“Additional Documents”), which also apply to your use of our Services:

a) Our Privacy Policy, which sets out the terms on which we process any personal data we collect about you, or that you provide to us. By using our Services, you consent to such processing, and you promise that all data provided by you is accurate.

b) Our Cookie Policy, which sets out information about the “cookies” on our Website.

c) Our Acceptable Use Policy, which sets out the permitted and prohibited uses of our Services.

1.2 By visiting our Website or using our Services (including downloading and using our App, or via the API, a social media platform or other authorised third party), you confirm that you accept and agree to this Agreement. If you do not agree, you must not use our Services.

1.3 In case of any discrepancies between what is stated in this Agreement and what is stated in the Additional Documents and Help Centre, what is stated in this Agreement shall prevail.

1.4 In order to receive some of our Services, you may be asked to agree to additional terms and conditions (including those referred to in section 1.1) which we will notify you about at the relevant time. For the avoidance of doubt, upon your use of any of our Services, you accept the last updated version of this Agreement.

1.5 You should also be aware of our Wise Help Centre ("Help Centre") which provides answers to common customer questions.

1.6 Future changes to this Agreement. Subject to section 16, we will make changes to this Agreement from time-to-time. The revised Agreement will take effect as soon as it is posted on our website or on the date notified to you.

1.7 Where to get a copy of this Agreement. You can always see the most current version of this Agreement on our Website. If you want a copy of this Agreement, please contact Customer Support.

2. Glossary

In this Agreement:

API means the application programming interface provided by Wise.

API Partner means a business we have partnered with for Wise to offer our Services through their website, mobile application or similar.

App means the mobile application software where we offer our Services, the data supplied with the software and the associated media.

Authorised User means any person operating or accessing your Wise Account on your behalf following the process in section 4.3.

Business Account means the account for business to use our Services, including Money Transfer . You can have multiple business accounts in your Wise Account.

Business Day means a day other than a Saturday, Sunday or a public holiday in the Philippines when financial institutions in the Philippines are open for business.

Chargeback means the person sending you the money has made a claim to their bank or payment provider that money was sent to you illegitimately, or the payment to Wise fails due to insufficient funds, account closed or any other reason.

Exchange Rate has the meaning given in section 10.2.

Guaranteed Period has the meaning given in section 10.9.

Intellectual Property means (i) rights in, and in relation to, any trademarks, logos, patents, registered designs, design rights, copyright and related rights, moral rights, databases, domain names, utility models, and including registrations and applications for, and renewals or extensions of, such rights, and similar or equivalent rights or forms of protection in any part of the world; (ii) rights in the nature of unfair competition rights and to sue for passing off and for past infringement; and (iii) trade secrets, confidentiality and other proprietary rights, including rights to know how and other technical information.

Personal Account is the account that allows individuals to use our Services, including Money Transfer . Each individual can only have one personal account in their Wise Account.

Services means all products, services, content, features, technologies or functions offered by us and all related websites, applications (including the App), and services (including the Website and via an API Partner).

Source Currency means the currency you use to fund your payment order.

Target Currency means the currency which your recipient will receive.

Third Party Materials has the meaning given in section 14.

Money Transfer means using your Wise Account to, as part of a single transaction, upload, convert or send funds.

Value Added Tax (VAT) means any tax in the nature of value added tax, supply or goods and services tax, consumption tax, turnover tax, business tax (including any gross receipt tax) or any similar tax whether imposed by imposed by the Value Added Tax Act 1994 of England and Wales, EU Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112) or any similar legislation elsewhere in the World in substitution for, or levied in addition to, the taxes referred to in the above paragraphs or imposed elsewhere.

Any words or expressions used in this agreement which are defined in the VAT legislation of the relevant country have the same meaning as in this legislation.

Wise Account means your Personal Account and all Business Accounts that you have registered with Wise under one email address.

Wise Account holder has the definition given in Section 5.6.

Wise Materials has the definition given in Section 12.1.

Website means any Wise webpage, including but not limited to www.wise.com, where we provide the Services to you.

3. Who we are and how to contact us?

3.1 Our company information. Wise Pilipinas Inc. is a company incorporated under the laws of the Philippines with Securities and Exchange Commission number 2021050013817-03 ("Wise", "we", "us", or "our" as applicable).

3.2 Our Registered office. Our registered office is WeWork 30th Floor Yuchengco Tower, RCBC Plaza, 6819 Ayala Ave., Bel-Air Makati City 1226, Manila, Philippines. This office is for Wise employees only and is not accessible to customers.

3.3 We are authorised by the Bangko Sentral ng Pilipinas. We are a Remittance and Transfer Company (RTC) with a Type “C” Electronic Money Issuer (EMI) / Money Changing (MC) / Foreign Exchange Dealing (FXD) registration, authorised by the Bangko Sentral ng Pilipinas (“BSP”) pursuant to Section 3 of R.A. 7653, as amended, (The New Central Bank Act), Section 3, in relation to Section 11 of R.A. No. 9160 (The Anti-Money Laundering Act (AMLA) of 2001), Section 3(c) of R.A. No. 10168 (The Terrorism Financing Prevention and Suppression Act of 2012), and their implementing rules and regulations, and Section 80 of R.A. No. 7653 (The New Central Bank Act), as amended (The New Central Bank Act), as well as Section 901-N and Section 902-N of the Manual of Regulations for Non-Bank Financial Institutions for the issuing of electronic money and providing money changing and foreign exchange dealing services. Our BSP Certificate of Authority Institution Code is 53-0044-00-000.

3.4 When paying for a Money Transfer in a currency other than Philippine Peso (PHP), you may be doing business with a different Wise entity on these same terms, as listed here. In those cases, your money will be held in accordance with the regulations and licences applicable to such entity, as described here.

3.5 How to contact us. You can contact us by email, web chat or telephone. Our contact details are provided on the Contact page of our Website.

3.6 Consumer Assistance Mechanism. Wise provides consumer assistance through its Help Centre. The BSP regulates BSP-supervised financial institutions in the Philippines (including the local Wise entity) and maintains a consumer assistance mechanism. The BSP can be contacted by telephone on (02) 8708-7701 (local no. 2584) or (02) 8708-7087, by email to consumeraffairs@bsp.gov.ph or by facsimile (02) 8708-7088.

4. Who can use our Services?

4.1 You must be 18 years or over. If you are an individual, you must be 18 years or older to use our Services and by creating a Wise Account, you declare that you are 18 years or older and have the capacity to enter into a contract. We may ask you at any time to show proof of your age.

4.2 You must have authority to bind your business. If you are not an individual consumer, you confirm that you have authority to bind any business or entity on whose behalf you use our Services, and that business or entity accepts these terms. We may ask you at any time to provide proof of such authority. If you do not provide proof of authority that is acceptable to us, we may close or suspend your Business Account.

4.3 You can authorise others to operate your Wise Account (“Authorised User”). You also acknowledge that if you authorise an Authorised User to access your Wise Account, we’ll deal with such Authorised User, including any instruction they provide us, as if they were you for the purposes of this Agreement. You will be bound by anything done by any Authorised User, even if they do something that is outside the scope of the authority you gave them. You also acknowledge that we may disclose certain information about your Wise Account to any Authorised User and that we are not responsible for your Authorised User’s use of any information in your Wise Account. Granting permission to any Authorised User does not relieve you of your responsibilities under this Agreement, including notifying us if your Wise Account has been compromised or if a transaction is suspected to be incorrect or unauthorised.

4.4 Disputes between you and an Authorised User relating to your Wise Account is a private matter. You recognize that Wise is not a party to any claim or dispute between you and your Authorised Users. Because you are bound by the actions of Authorised Users, it’s very important that you choose Authorised Users carefully. We suggest you regularly reassess who can be an Authorised User on your account and regularly log into your Wise Account to assess and review the activity undertaken by Authorised Users.


5. Creating a Wise Account

5.1 Creating a Wise Account. To start using our Services, you must create a Wise Account and provide your details as prompted.

5.2 Information must be accurate. All information you provide to us must be complete, accurate and truthful at all times. You must update this information whenever it changes. We cannot be responsible for any loss arising out of your failure to do so. We may ask you at any time to confirm the accuracy of your information and/or provide additional supporting documents.

5.3 Security and customer due diligence checks. We are required by law to carry out certain security and customer due diligence checks on you in order to provide any Services to you. In some circumstances, we might need to also perform checks on any parties involved in your transaction (for example, your recipient). You agree to comply with any request from us for further information and provide such information in a format acceptable to us. In addition, you agree that we may make, directly or through any third party, any inquiries we consider necessary to validate the information you provided to us, including checking commercial databases or credit reports. You authorise us to obtain one or more of your credit reports, from time to time, to establish, update, or renew your Wise Account with us or in the event of a dispute relating to this Agreement or activity under your Wise Account . You agree we may disclose your name, residential address and date of birth to a credit reporting agency in order to obtain a credit report for these purposes.

5.4 Wise reserves the right to close, suspend, or limit access to your Wise Account or the Services in the event we are unable to obtain or verify your information.

5.5 Transacting on your own account. All activities under a Wise Account shall be deemed as activities carried out by you. Unless you are an Authorised User, you agree to only use the Services to transact on your own account and not on behalf of any other person or entity.

5.6 One Wise Account per person or entity. You may open only one Personal Account and one or more Business Accounts. While each account might be linked to one Wise Account, each person or entity (each a “Wise Account holder”) is individually bound to the terms and conditions applicable to the address in their account as provided here.

5.7 Business Accounts can only use our services for business purposes. If you have a Business Account, you may only use our Services for business purposes and not personal purposes.

6. Keeping your Wise Account Safe

6.1 When accessing your Wise Account, you should at the minimum do the following:

a) Change your password regularly and ensure that it isn’t reused for other online accounts.

b) Contact Customer Support if anyone asks for your Wise Account login details, including your password.

c) Always follow recommended password management practice, including by using strong passwords, using a mixture of letters, numbers and symbols.

d) Set up 2-step authentication where prompted by us (for further instructions please refer to our Help Centre).

e) Keep your email account secure. You may reset your Wise Account Password using your email address. Let Customer Support know immediately if your email address becomes compromised.

f) Update your device’s browser to the latest version available.

g) Maintain your device’s operating systems with regular security updates provided by the operating system provider.

h) Install and maintain the latest anti-virus software on the device, where applicable.

6.2 You must NOT:

a) Disclose your Wise Account password or your customer reference number (which starts with the letter P followed by a series of numbers), and you must keep them safe.

b) Let anyone access your Wise Account or watch you accessing it, including letting someone else take remote control of your device(s).

c) Use any functionality that allows your login details or passwords to be stored by the computer or browser you are using or to be cached or otherwise recorded.

d) Do anything which may in any way avoid or compromise the 2-step authentication process.

6.3 Contact us if you suspect your Wise Account has been compromised. If you suspect your Wise Account or other security credentials are stolen, lost, used without your authorisation or otherwise compromised, you must contact Customer Support immediately. You are also advised to change your password. Any undue delays in notifying us may affect the security of your Wise Account and also result in you being responsible for losses. You must provide us with any reasonable assistance we require from you to investigate and take any action required to secure your account.

6.4 Additional Wise products or services you use may have additional security requirements and you must familiarise yourself with those.

6.5 You are responsible for configuring your information technology, computer programmes and platform in order to access our Services. We cannot guarantee that our Services will be free from bugs or viruses.

6.6 You must not misuse our Services. 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 unauthorised access to our Website, our servers, computers or databases. You must not attack our Website with any type of denial of service attack. By breaching this provision, you may commit a criminal offence. We will report any such suspected breach to the relevant law enforcement authorities, and we will cooperate with those authorities, including by disclosing your identity to them. In the event of such a suspected breach, your right to use our Website and/or our Services will cease immediately.

6.7 Your use of our Services must not violate any applicable laws. You commit to us that your opening or use of a Wise Account or our Services does not violate any laws applicable to you. You take responsibility for any consequences of your breach of this section.

7. Terminating your Wise Account

7.1 You may terminate your Wise Account at any time. You may terminate your Wise Account, which will end your ability to use our Services at any time by following the steps provided in our Help Centre.

7.2 You must not terminate your Wise Account to avoid an investigation. You must not terminate your Wise Account to avoid an investigation. If you attempt to terminate your Wise Account during an investigation, we may hold your money until the investigation is fully completed in order to protect our or a third party’s interest.

7.3 You are responsible for your Wise Account after closure. You agree that you will continue to be responsible for all obligations related to your Wise Account even after it is closed.

7.4 We may end this Agreement by giving you 30 days’ notice. We may end this Agreement and terminate your Wise Account or any Service associated with it by giving you 30 days’ prior notice, where required.

7.5 We may suspend or Terminate your Wise Account without notice in certain circumstances. We may at any time suspend your Wise Account, during which time your Wise Account remains open but is not able to be operated by you or may be subject to restrictions until we remove the suspension, or close your Wise Account, which means your Wise Account is deactivated and this Agreement ends, without notice. We may do this if:

a) we suspect you have breached this Agreement or documents referred to in this Agreement;

b) we are requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency;

c) we have reason to believe you are in 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.

7.6 We may suspend your Wise Account for security reasons. We may suspend your Wise Account or restrict its functionality if we have reasonable concerns about:

a) the security of your Wise Account; or

b) suspected unauthorised or fraudulent use of your Wise Account .

7.7 We will give you notice of suspension where possible. We will give you notice of any suspension or restriction and the reasons for such suspension or restriction as soon as we can, either before the suspension or restriction is put in place, or immediately after, unless notifying you would be unlawful or compromise our reasonable security measures.

7.8 You cannot use the App if this Agreement ends. On termination for any reason all rights granted to you in connection with the App shall cease, you must immediately delete or remove the App from your devices.

8. How much will you pay

8.1 You must pay our fees. You must pay the fees in connection with the use of our Services. We will not process your transaction or provide any other Services to you until we have received the fees from you. Our fees do not include any fees that your bank or the recipient’s bank may charge.

8.2 You can see our fee structure on the Pricing page. You can see our fee structure on the "Pricing" page. For clarity, the fees applicable to you as set out on the "Pricing" page forms part of this Agreement which may be subject to change as set out in section 16.

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

8.4 Value Added Tax (VAT) applicability.

a) Where such Service provided to us is subject to VAT, you will pay VAT over to us in addition to the agreed fees.

b) Unless set out elsewhere in this agreement, all services provided by us and the fees on these are exclusive of any applicable VAT.

c) The VAT will be payable at the same time as the underlying fee, except where you have the responsibility to self account for such VAT to the tax authority.


9. Uploading money

9.1 How to upload money. T o make a Money Transfer, you need to log in to your Wise Account and follow the steps. We are not responsible for the funds you have uploaded until we have received them.

9.2 Pay-in Methods. You may be presented with one or more methods of upload for example, bank transfer or debit cards (in this Agreement, we will call these methods “Pay-in Methods”). The number of Pay-in Methods made available to you will depend on a number of factors including where you live and your verification status with us. Pay-in Methods are not part of our Services, they are services provided by third parties for example, the card provider which issued you with your credit/debit card that you use to make a Pay-In. We cannot guarantee the use of any particular Pay-in Method and we may change or stop offering a Pay-in Method at any time without notice to you.

9.3 Payment instrument must be in your name. Any payment instrument (for example, the debit card) you use as your chosen Pay-in Method must be in your name.

9.4 Chargebacks on your payment instrument. If you selected a Pay-in Method which can be subject to C hargeback (for example in relation to your debit card, you may ask your card provider to reverse a transaction on your card), you agree that you will only exercise this C hargeback right if:

a) we have breached this Agreement; or

b) there was an unauthorised use of your payment instrument, meaning that you did not execute or authorise the payment.

You agree that you will not exercise your chargeback right for any other reasons, including a dispute with your recipient or if there are insufficient funds in your payment instrument. If we need to investigate or take any actions in connection with a chargeback caused or related to you, we may charge you for our costs in doing so.

9.5 When will we credit your Wise Account? We will credit your Wise Account once we have received your funds. For some Pay-in Methods such as credit or debit card, we will credit the funds to your Wise Account as soon as possible subject to our right of reversal. This means if we credit your Wise Account for the full amount you intended to upload but this amount does not reach us within a reasonable time, and you use said credited amount, for instance to send money we may deduct such amount from your Wise Account .

9.6 Uploading Money by Bank Transfer. If you choose to upload money via bank transfer, it may be done using InstaPay or PESONet, at your option. Transfer fees, limits, as well as clearing times may vary depending on your bank and electronic fund transfer option. Visit your bank’s website to learn more. You will need to provide your account details to us, including your account number and account name. When you choose to upload money via bank transfer, you confirm that your account details are correct, that the bank account is under your own name, that you are authorised to access and transmit funds from your bank account, that your bank account is in good standing with the account-holding financial institution, and that you have the authority to initiate a bank transfer in the amount at issue to or from your account. You authorise us to initiate credits and debits to your bank account through payment networks in order to process a requested transaction, including any applicable fees and charges, and this authorization shall remain in effect so long as you are a registered user with the Service unless cancelled in accordance with this Agreement.

9.7 Uploading money by debit card. If you choose to upload money via debit card, provided we offer such options, you will need to provide your card details to us, including your card number and cardholder name. When you choose to upload money via debit card, you confirm that your card details are correct, that you are authorised 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 card payment in the amount at issue to or from your card account. You authorise us to initiate credits and debits to your bank account through card payment networks in order to process a requested transaction, including any applicable fees and charges, and this authorization shall remain in effect so long as you are a registered user with the Service unless cancelled in accordance with this Agreement.

9.8 Uploading money restrictions. No other payment methods are accepted other than those mentioned when you log-in to your Wise Account. For legal, security, or other reasons, there may be financial limits for particular payment methods or currencies . Please visit our Help Centre for more information.

10. Currency Conversion

10.1 Our Services include the ability to convert currencies, for example as part of a Money Transfer.

10.2 Exchange rate. When we refer to an exchange rate in this Agreement, it means the exchange rate at the relevant time for the relevant currency pair (for example, GBP to EUR, USD to AUD) that is offered by Wise, which is typically provided by a reference rate provider. We may change our reference rate provider from time to time without notice to you.

10.3 For some currencies, we do not use the mid-market exchange rate, including where we are required by law to use a different reference rate for the exchange rate for your currency pair. For these currencies we will notify you of the exchange rate offered by Wise when you initiate a Money Transfer.

10.4 Depending on the currency pair, you may have a choice of how we convert your chosen currency. This includes:

  • a “Fixed Source Order” which is a currency conversion order where you indicate that you wish to convert a fixed amount of Source Currency in order for you or your recipient to receive the converted amount in the Target Currency; or

  • a “Fixed Target Order” which is a currency conversion order where you indicate that you wish to send a fixed amount of Target Currency.

10.5 You can only set up a Fixed Target Order for certain Source Currencies, you can find a list of these Source Currencies on our Help Centre.

10.6 We may not process your currency conversion order until we hold or have received the funds and fees specified on the Pricing Page. 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.

10.7 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 Agreement, including we believe you are attempting to engage in currency trading or other trading for purposes not permitted by this 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.

10.8 Confirmation of currency conversion order. Once we have received your currency conversion order, we will send you a confirmation by email that we have received the order. 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.

10.9 Guaranteed rates. We will notify you of the guaranteed rate and the guaranteed time period (the "Guaranteed Period") when you create your Money Transfer.

10.10 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.

10.11 The applicable exchange rates. We will confirm the applicable exchange rate for your Money Transfer:

a) when you place your payment order, if it is a guaranteed rate payment order; or

b) when we have received your payment, if it is a non-guaranteed rate payment order.

10.12 We are not a currency trading platform. Wise is not a currency trading platform and is not to be used for seeking to profit from FX trading. Accordingly, you should not use our Services (including creating a series of Money Transfers without the intention of completing them ). If we detect that you are using our Services for this purpose, we may, at in our sole discretion, 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.


11. Sending money

11.1 Information you need to provide to set up a payment order. To set up a payment order via your Wise Account, you may need to provide certain information to us, including, but not limited to, the full name of your recipient, your recipient’s bank account details or their Wise account details and amount to be transferred.

11.2 Payment order limits. We may place limits on the amount you may send per transfer. Any payment order above PHP500,000 will be subject to additional requests for information. For more information on the applicable limits, please visit our Help Centre.

11.3 When we received your payment order. If your payment order is received by us after 5pm Philippine Time on a Business Day or on a day that is not a Business Day (e.g., weekend or bank holiday), your payment order will be deemed received on the following Business Day.

11.4 What happens after you have submitted your payment order? Once we have received your payment order, we will display it under the Activity section of your Wise Account. Each transaction is given a unique transaction number which you can find there. You should quote this number when communicating with us about a particular payment order or other transaction.

11.5 You need to provide us with sufficient funds before we can process your payment order. We may only process your payment order if we hold or have received sufficient cleared funds following the process for Uploading Money in Section 9. If you send the relevant funds prior to setting up the currency conversion order, we will attempt to return them to you. It is your responsibility to fund your payment order in a timely manner. We cannot be responsible for the time it takes for the money to be sent to us by your or a third party’s bank or payment service provider.

11.6 Delay in transfer. We may delay processing a payment order in certain situations, including if we need to confirm that the withdrawal has been authorised by you, as a result of verification checks or due diligence reviews . We cannot be held responsible for any such delays.

11.7 Completion time of your payment order. The estimated completion time of your payment order is notified to you when you complete the setup of your payment order. You may also find further information about the completion time in the Help Centre section of our Website.

11.8 We will use reasonable efforts to ensure funds arrive at your recipient’s account within the notified timeframe. We will use reasonable efforts to ensure that the funds arrive in the recipient’s bank account or payment account within the timelines notified to you or otherwise specified in our Help Centre. We do not have any control over the time it may take for the recipient’s bank or payment provider to credit and make available funds to the recipient.

11.9 Sending money using an email address. If you send money to a person using an email address which is not registered with us, the money will not be credited until the intended recipient has claimed the money following the steps we have set out for them. Until that process is successfully completed, there is no relationship between us and the intended recipient and the money continues to belong to you. We will refund the money to you if the intended recipient does not claim the money or if they have failed our customer checks within a reasonable time period as determined by us.

11.10 Refusal of your payment order. If we are unable to complete your payment order, we will let you know and, if possible, the reasons for the refusal and an explanation of how to correct any factual errors. However, we are not required to notify you if such notification would be unlawful.

11.11 You may cancel your payment order before your funds are converted. You may cancel your payment order by following the instructions set out in our Help Centre. You cannot cancel your payment order once your funds have been converted into the Target Currency you requested.

11.12 You must ensure the information you provide to us is correct. You must make sure that the information you provide when setting up a payment order is accurate. If we have processed your order in accordance with the information you have provided to us it will be considered correctly completed even if you have made a mistake.

11.13 Finality of Settlement and Payments. Payouts and the settlement of Transaction shall be final and irrevocable unless otherwise provided in this Agreement or pursuant to applicable law.

11.14 What happens if you provide us with incorrect information? If you provide incorrect information with your payment order, we will use reasonable efforts to recover the funds for you and may need to charge you a fee for that.

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


12. Intellectual Property Rights

12.1 All right, title and interest in and to any software (including without limitation the App, the Wise website, the API, developer tools, sample source code, and code libraries), data, materials, content and printed and electronic documentation (including any specifications and integration guides) developed, provided or made available by us or our affiliates to you, including content of the Wise website, and any and all technology and any content created or derived from any of the foregoing (“Wise Materials”) and our Services are the exclusive property of Wise and its licensors. The Wise Materials and Services are protected by intellectual property rights laws and treaties around the world. All such rights are reserved.

12.2 How you can use Wise Materials. While you are using our Services, you may use the Wise Materials only for your personal use and solely as necessary to enjoy our Services. Subject to your compliance with this Agreement and your payment of any applicable fees, Wise grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited licence to access and/or make personal use of the Wise Materials and Services. Any use of the Wise Materials and Services not specifically permitted under this Agreement is strictly prohibited. The licences granted by Wise terminate if you do not comply with this Agreement or any other service terms.

12.3 When you cannot use Wise Materials. Unless you have received written permission from us, you may not, and may not attempt to, directly or indirectly:

a) use any of the Wise Materials for any commercial purpose or otherwise infringe our intellectual property rights;

b) transfer, sublicense, loan, sell, assign, lease, rent, distribute or grant rights in the Services or the Wise Materials to any person or entity;

c) remove, obscure, or alter any notice of any of our trademarks, or other Intellectual Property appearing on or contained within the Services or on any Wise Materials;

d) modify, copy, tamper with or otherwise create derivative works of any software included in the Wise Materials; or

e) reverse engineer, disassemble, or decompile the Wise Materials or the Services or apply any other process or procedure to derive the source code of any software included in the Wise Materials or as part of the Services.

12.4 Wise Trademarks. A non-exhaustive list of Wise Trademarks is enclosed below. “WISE”, “WISE CARD”, “WISE PLATFORM”, “WISEPLATFORM”, “WISE PAY”, “WISEPAY”, “WISEBUSINESS”, “WISE BUSINESS”, “WISETRANSFER’, “WISE TRANSFER”, “TRANSFERWISE”, “BORDERLESS”, “MONEY WITHOUT BORDERS” and any other business and service names, logos, signs, graphics, page headers, button icons and/or scripts (each as might be amended from time to time) are all registered or unregistered trademarks or trade dress of Wise or Wise’s licensors in the relevant jurisdictions (“Wise Trademarks”). You may not copy, imitate, modify or use Wise Trademarks without our prior written consent. You may use HTML logos provided by us for the purpose of directing 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 Wise services or display them in any manner that implies Wise’s sponsorship or endorsement. Further, you may not use Wise Trademarks and trade dress in connection with any product or service that is not Wise’s, in any manner that is likely to cause confusion among customers, or in any manner that disparages or discredits Wise.

12.5 All other trademarks, registered trademarks, product names and company names or logos not owned by Wise that appear in Wise Materials or in the Services are or may be the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by Wise, and may not be used without permission of the applicable rights holder.

13. Wise App

13.1 App is subject to this Agreement and the App Store and Google Play Rules. We licence the use of the App to you on the basis of this Agreement and subject to any rules and policies applied by any app store provider or operator whose sites are located at App Store and Google Play. We do not sell the App to you. We remain the owners of the App at all times.

13.2 App updates. 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.

13.3 Your right to use the App. In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive licence to use the App on your device subject to this Agreement. We reserve all other rights.

13.4 App Store terms. 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”):

a) Apple is not a party to this Agreement and does not own and is not responsible for the App.

b) Apple is not providing any warranty for the App except, if applicable, to refund the purchase price for it.

c) 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.

d) 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 Agreement.

e) The licence you have been granted herein is limited to a non-transferable licence 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.

f) Apple and Apple’s subsidiaries are third-party beneficiaries of this Agreement and, upon your acceptance of the terms and conditions of this Agreement, will have the right (and will be deemed to have accepted the right) to enforce this Agreement against you as a third-party beneficiary. Notwithstanding this, our right to enter into, rescind or terminate any variation, waiver or settlement under this Agreement is not subject to the consent of any third party, including Apple.

14. Third Party Materials

14.1 Certain Website or App functionality may provide you access to information, products, services and other materials by third parties (“Third Party Materials”) or allow for the routing or transmission of such Third Party Materials, including via links.

14.2 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.

14.3 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).


15. Our responsibility for loss or damage

15.1 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 the contract was made, both we and you knew it might happen, for example, if you discussed it with us during your account sign up process.

15.2 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 death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation.

15.3 We are not liable for business losses. To the extent permissible by law, if you use our Services for any commercial or business purpose we will have no liability to you for any loss of profit, loss of business, business interruption, loss of business opportunity or similar.

15.4 We are not liable for technological attacks. We will not be liable for any loss or damage caused by a virus, or other technological attacks or harmful material that may infect your computer equipment, computer programmes, data or other proprietary material related to your use of our Services.

15.5 We have no control over websites linked to and from our Website. We assume no responsibility for such Third Party Materials or any loss or damage that may arise from your use of them.

15.6 Our liability to you for unauthorised payments or our mistake. In case of an unauthorised payment or mistake due to our error, we shall at your request refund the payment amount including all fees deducted by us. We may require proof that such payments were unauthorised. This shall not apply where we believe:

a) your Wise Account, or its personalised security features, are lost, stolen or misappropriated. You will be liable for the first GBP 35 of any unauthorised payments if we believe you should have been aware of the loss, theft or unauthorised use. We will not hold you liable for the first GBP 35 if the unauthorised payment was caused either by our acts or omissions, or those of a third party expressly carrying out activities on our behalf. Your liability for the first GBP 35 also does not apply to any unauthorised transactions made after you have notified us that your Wise Account may have been compromised (using the details we’ve given you);

b) you have acted fraudulently;

c) you do not quickly notify us of security issues on your Wise Account (e.g., loss of your password). You remain liable for losses incurred up to your notification to us;

d) the payment transaction was unauthorised but you have with intent or gross negligence compromised the security of your Wise Account or failed to comply with your obligations to use your Wise Account in the manner set out in this Agreement. In such a case you shall be solely liable for all losses; or

e) you don’t let us know about the unauthorised or incorrectly completed transaction 60 days from the date of the payment transaction.

15.7 We are not liable for things which are outside of our control. We (and our affiliates) cannot be liable for our inability to deliver or delay as a result of things which are outside our control.

18.8 You are liable for breaching this Agreement or applicable laws. 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.

15.9 What happens if you owe us money? In the event you are liable for any amounts owed to us for whatever reason, 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, you agree to repay the outstanding amount to us immediately on demand along with any applicable fees and interest. In the event that you do not repay the outstanding amount then, without prejudice to any other rights we may have, we reserve the right to collect your debt to us by using any payments received in your Wise Account or to fund a Money Transfer 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 Agreement.

15.10 Release. If you have a dispute with any other Wise Account holder or a third party that you send money to or receive money from using the Services, you release Wise from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release you expressly waive any protections (whether statutory or otherwise) that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.

15.11 Disclaimer of Warranty. The Services are provided “As-Is” “Where Is” and “Where Available” and without any representation or warranty, whether express, implied or statutory. Wise specifically disclaims any implied warranties of title, merchantability, fitness for a particular purpose and non-infringement. We disclaim all warranties with respect to the Services to the fullest extent permissible under applicable law, including the warranties of merchantability, fitness for a particular purpose, non-infringement and title.

15.12 Availability of Services. 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 may 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 at any time or for any period.

15.13 You are responsible for making all arrangements necessary for you to have access to our Services. If you have granted permission to a third party to access your account, we may refuse access to that third party if we are concerned about unauthorised or fraudulent access by that third party. We will give you notice if we do this, either before or immediately after we refuse access, unless notifying you would be unlawful or compromise our reasonable security measures.

16. Our right to make changes

16.1 We may change this Agreement by giving you at least sixty (60) days’ prior written notice. This notice will be provided either by email or displaying a notice in the App or in our Webpage. If we do this, you can terminate this Agreement immediately by providing written notice to us during the notice period (see section 7). If we do not hear from you during the notice period, you will be considered as having accepted the proposed changes and they will apply to you from the effective date specified on the notice.

16.2 In some instances, we may change this Agreement immediately. Despite section 16.1, changes to this Agreement which do not require sixty (60) days’ notification and are (1) more favourable to you; (2) required by law; (3) related to the addition of a new service, extra functionality to the existing Service; or (4) changes which neither reduce your rights nor increase your responsibilities, will come into effect immediately if they are stated in the change notice. Changes to exchange rates shall come into effect immediately without notice and you shall not have the right to object to such a change.

17. Complaints

17.1 If you have any complaints about us or our Services, you may contact us following our customer complaint procedure.

18. Other important terms

18.1 Third Party rights. This Agreement is between you and us. Except as provided in section 6.4, no other person shall have any rights to enforce any of its terms. Neither of us will need to get the agreement of any other person in order to end or make any changes to this Agreement.

18.2 Assignment. You may not transfer, assign, mortgage, charge, subcontract, declare a trust over or deal in any other manner with any or all of your rights and obligations under this Agreement without our prior written consent. We reserve the right to transfer, assign or novate this Agreement or any right or obligation under this Agreement at any time without your consent. This does not affect your rights to close your Wise Account under section 7.

18.3 Severability. Each of the paragraphs of this Agreement 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.

18.4 Enforcement. Even if we delay in enforcing this Agreement, we can still enforce it later. If we delay in asking you to do certain things or in taking action, it will not prevent us from taking steps against you at a later date.

18.5 Entire Agreement. This Agreement supersedes and extinguishes all previous agreements between you and Wise, whether written or oral, relating to its subject matter.

18.6 Governing law. This Agreement is governed by Philippine law. Any dispute between you and us in connection with the Services and/or this Agreement may be brought in the courts of Makati City, Philippines, to the exclusion of all other venues.

18.7 We have translated this Agreement to Filipino to facilitate a better understanding between Wise and our customers. In case of discrepancy or inconsistency between the English version and the Filipino translation of these Terms and Conditions, the English version shall prevail.