Group Spending Terms and Conditions

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1. About these Terms

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

3. Owners’ Rights and Obligations

4. Members’ Terms and Conditions

5. Our responsibility for loss or damage

6. General but important terms

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1. About these Terms

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

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

1. Group Spending is a feature designed for Wise customers who wish to share and spend their finances with other Wise customers, such as friends and family, free of charge.
2. This feature is connected to your Wise Account and enables the legal owner of a Wise Account (the “Owner”) and the person to whom access is granted (the “Member”) to share a balance for expenditure purposes (“Group Spending” or “Group”).
3. Each Owner and Member must have a Wise Account in their own name before using Group Spending.
4. This Agreement allows the Owner and Member(s) to receive a virtual card in their own name linked to the Group (in accordance with our Wise Card Terms); link it to their wallet such as Google Pay or Apple Pay; make in-store or online payments and make ATM withdrawals overseas.
5. Group Spending is not a joint account. The Owner remains the sole proprietor of the funds at all times. All transactions made through the Group will be deemed to have been made by the Owner.
6. If the Owner’s account is suspended or closed in line with our Customer Agreement, the Member will not be able to access the Group.
7. Any spendings and withdrawals are subject to any limits referred to in the Customer Agreement.

• a) Holding limits. All funds held within the Group are subject to the Owner's maximum holding limit. This means that the aggregate of the funds in the Owner’s personal and Group balance must not exceed the applicable maximum holding limit at any time. For more information on holding limits, please visit our Help Centre.

• b) Sending and spending limits. Any transactions initiated from the Group balance are subject to the Owner’s cumulative yearly sending and spending limit. This means that all transactions initiated from the Group balance, combined with transactions initiated from the Owner’s personal balance, must not exceed the applicable maximum yearly sending and spending limit. When the Member adds funds to the Group balance from their personal Wise Account, the transaction will be subject to the yearly sending and spending limit on their personal Wise Account. Top-ups made using other methods, such as transfers from other bank accounts or with a card from another bank, will not count toward the yearly sending and spending limit. For more information on yearly sending and spending limits, please please visit our Help Centre.

• c) Card spending limits. Any Card transactions initiated from the Group balance are counted towards the individual maximum monthly spending limits of the person making the transaction - the Owner or the Member, respectively. Each individual's monthly Card spending limit will remain separate and unaffected by others' Card transactions. The Card spend from both the Group and personal balances of the same individual will be combined to ensure their limit is not exceeded. For more information on monthly spending limits, please visit our Help Centre.

8. The Owner and Member(s) can always see all the transactions from the Group.
9. The Owner is solely responsible for any form of misuse of the Group feature. The consequences of any form of misuse of the Group feature, including if either the Owner or Member(s) engage in fraudulent activity, shall be as set out in the Customer Agreement. By using the Group feature, the Owner agrees that Wise will not be a party to, nor liable for, any claim or dispute that may arise between the Owner and the Member(s) in relation to the use of the Group feature.
10. Wise reserves the right to add or remove functionalities for Group Spending at any time. Notice will only be provided if the removal of a feature impacts the terms of the Customer Agreement, in accordance with the prescribed notice period.

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3. Owners’ Rights and Obligations

1. The Owner can create multiple Groups, but each one can only be shared with Member(s) who reside in the same country as the Owner.
2. The Owner can open and close the Group at any time and without notice.
3. The Owner can terminate the Group at any time without providing notice. The Member cannot oppose this decision.
4. If the Member loses access to the Group for breaching these Terms, the Owner is free to invite a new Member.
5. The Owner must inform Wise of any event that could have a legal or financial impact on the Group. In the event of a court order or other legal processes such as insolvency procedures, seizures or garnishments, we may be required to take certain actions in line with our Customer Agreement. Such action may include, but is not limited to: placing a reserve or limitation on the Group or releasing the funds on it.

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4. Members’ Terms and Conditions

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

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5. Our responsibility for loss or damage

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

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6. General but important terms

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