Customer Agreement (Singapore)

Last updated: 1 March 2021

Consumer advisory - Consumers (users) are advised to read this Customer Agreement carefully. In addition, Wise Asia-Pacific Pte Ltd is not a bank and therefore the Singapore Deposit Insurance Scheme (SDIC) does not apply.

1. How to read this Customer Agreement

This Customer Agreement contains 30 sections. You may go directly to any section by selecting the appropriate link provided. The headings are for reference only. Some capitalised terms have specific definitions in section 3. Underlined words in this Customer Agreement contain hyperlinks to further information.

2. Why you should read this Customer Agreement

2.1 What this Customer Agreement covers. These are the terms and conditions on which we provide our Services to you.

2.2 Why you should read them. Please read this Customer Agreement carefully before you start to use our Services. This Customer Agreement (always together with the documents referred to in it) tells you who we are, how we will provide the Services to you, how this Customer Agreement may be changed or ended, what to do if there is a problem and other important information. If you think that there is a mistake in this Customer Agreement or require any changes, please contact us to discuss.

2.3 Other additional documents which apply to you. This Customer Agreement refers to the following 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 uses and prohibited uses of our Services.
  • (d) Our Frequently Asked Questions ("FAQ") which provides answers to common customer questions.
  • (e) In order to receive some of our Services, you may be asked to agree to additional terms and conditions which we will notify you at the relevant time.

2.4 Future changes to this Customer Agreement. All future changes set out in the Customer Updates section of our Website at the time you sign-up for our Services are incorporated into this Agreement.

2.5 You accept this Customer Agreement. By visiting our Website and/or using our Services (including downloading and using our App, or via a social media platform), you confirm that you accept and agree to this Customer Agreement (including the Customer Updates and the additional documents referred to above). If you do not agree, please do not use our Services.

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

3. Glossary

In this Agreement:
  • App means the mobile application software, the data supplied with the software and the associated media.
  • Balance means any amounts held in your Wise Account.
  • Business Day means a day other than a Saturday, Sunday or a public holiday in England when financial institutions in London are open for business.
  • Group Company means any entity that directly or indirectly controls, is controlled by, or is under common control with another entity.
  • 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).
  • Source Currency means the currency which you hold and/or fund your payment order.
  • Target Currency means the currency which your recipient will receive.
  • Wise Account means the Account (at times referred to on our website as a “Borderless Account”) you have opened with us in accordance with the terms of this Customer Agreement.
  • Website means any webpage, including but not limited to www.wise.com or www.transferwise.com, where we provide the Services to you.

4. Wise App

4.1 App subject to this Agreement and the Appstore Rules. We license the use of the App to you on the basis of this Agreement and subject to any rules and policies applied by any appstore provider or operator whose sites are located at App Store and Google Play ("Appstore Rules"). We do not sell the App to you. We remain the owners of the App at all times.

4.2 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.

4.3 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 and the Appstore Rules. We reserve all other rights.

5. Who are we and how to contact us

5.1 Our company information. Wise Asia-Pacific Pte. Ltd. is a company incorporated under the laws of Singapore with Unique Entity Number 201422384R ("Wise", "TransferWise", "we", "us", or "our" as applicable).

5.2 Our Singapore address. Our registered address is 1 Paya Lebar Link, PLQ2, #13-06, Paya Lebar Quarter, Singapore 408533.

5.3 We are licensed by the Monetary Authority of Singapore (“MAS”) as a major payment institution under the Payment Services Act 2019 ("PSA") to carry on

  • (i) account issuance service;
  • (ii) domestic money transfer service;
  • (iii) cross-border money transfer service; and
  • (iv) e-money issuance service;
Please note that such licensing does NOT guarantee the performance of the major payment institution licensee and customers take the risks associated with fluctuations in the relevant exchange rates over time from the remittance. Wise Asia-Pacific Pte Ltd is not a bank and therefore the Singapore Deposit Insurance Scheme (SDIC) does not apply.

5.4 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.

6. Who can use our Services

6.1 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 opening a Wise Account you declare that you are 18 years or older. We may ask you at any time to show proof of your age.

6.2 You must have authority to bind your business. If you are not a 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.

6.3 Your use of the Wise Account must not violate any applicable laws. You may only open a Wise account if it is legal to do so in your country of residence. You commit to us that your opening and/or using of a Wise Account does not violate any laws applicable to you. You take responsibility for any consequences of your breach of this section.

7. Your Wise Account

7.1 About your Wise Account

  • (a) Your Wise Account allows you to hold, send or receive stored value/payments.
  • (b) The stored value held on your Wise Account does not expire other than when your account is closed, see section 19 for more details.
  • (c) The stored value held on your Wise Account will not earn any interest.
  • (d) You may hold your stored value in any currencies which we support from time to time.
  • (e) You may withdraw money from your Wise Account at any time subject to certain conditions, please see section 16 for more details.
  • (f) For Singapore individual customers, the maximum amount that your Wise Account can hold at any time is 5,000 Singapore Dollars (SGD) (or such equivalent aggregate amount in foreign currencies) and the total value you can transfer from your Wise Account in any period of one year may not exceed 30,000 SGD (or such equivalent aggregate amount in foreign currencies) under PSA requirements. Sending money from your Wise Account to personal deposit accounts in Singapore doesn’t count towards the 30,000 SGD limit. Please visit FAQ or contact us if you have any questions about these limits or require further information on the limits on Wise account.
  • (g) We may at its sole and absolute discretion reject your request for a payment transaction, or refund a payment or other transaction, for any reason whatsoever, including without limitation, where your Wise account would cause the aggregate amount of your balance, directly or indirectly to exceed any value permitted under the prevailing laws and regulations or any other regulatory or risk limit prescribed for that Wise Account.
  • (h) The stored value held on your Wise Account belongs to the person or legal entity which is registered as the Wise Account holder.
  • (i) Unless you have our consent in writing, you must not allow anyone to operate your Wise Account on your behalf.

7.2 Your e-money in the Wise Account is issued in accordance with PSA.

7.3 Safeguarding. We use safeguarding to protect your money. As required by the PSA, Wise keeps your money in established financial institutions. Your money is deposited in SGD (or in SGD equivalent) into a dedicated and segregated account held by us with DBS Bank Ltd (DBS) as our safeguarding institution.

If money in your Wise Account is held in currency(ies) other than SGD, we will convert such money to SGD using either Reuters mid-market rates or where Reuters mid-market rates are unavailable, XE mid-market rates, before placing such SGD or SGD equivalent amounts with DBS for safeguarding. We currently don't offer or charge interest on money in your balances or account held on trust. All monies in this dedicated customer segregated account are held on trust by us for you. Such monies in the dedicated customer segregated account are always kept separately from the accounts we use to run Wise, and we will not use the money held in such accounts to repay any debts that we may owe to any other party. If we were to become insolvent, you will be able to make a claim for your funds from this segregated account. We’d return your money in the Wise Account to you in SGD, and where your monies held in Wise Account is held in currency(ies) other than SGD, we will use the Reuters mid-market rates or where Reuters mid-market rates unavailable, XE mid-market rates, to determine the SGD equivalent amount to be paid to you on the day when payout instruction is given. Please note that you may not get all your money back in SGD equivalent if (i) the funds in the dedicated and segregated account held by us with DBS is insufficient to meet the payout instruction; or (ii) if the safeguarding institution becomes insolvent.

For further information on how we safeguard your money, please visit FAQ.

8. Getting started

8.1 Open a Wise Account. To start using our Services, you must open a Wise Account and provide your details as prompted. As part of the signup process you will need to accept this Customer Agreement.

8.2 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 can not be responsible for any financial 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.

8.3 Transacting on your own account. All activities under a Wise Account shall be deemed as activities carried out by the registered user. You shall only use the Services to transact on your own account and not on behalf of any other person or entity.

8.4 One account per person or entity. You may only open one Wise Account unless we have agreed in writing the opening of additional accounts. Wise may refuse the creation of duplicate accounts for the same user. Where duplicate accounts are detected, Wise may close or merge these duplicate accounts at its sole discretion.

9. Getting to know you

9.1 We are required by law to carry out all necessary security and customer due diligence checks on you (including any parties involved in your transaction for example, your recipient) in order to provide any Services to you. 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 Customer Agreement and activity under your Wise Account.

10. Keep your Wise Account safe

10.1 Keep your Wise Account safe

Never disclose your Wise Account password or your customer reference number (which starts with the letter 'P', followed by a series of numbers). Keep them safe in a secure electronic or physical location accessible or known to you so that the record is unlikely to be found by a third party. Change your password regularly. We will never ask you to provide your password to us or to a third party. Tell us if anyone asks for your password and Contact Customer Support if you are not sure. You must never let anyone access your Wise Account or watch you access it.

If you suspect your Wise Account, login details, password or other security feature is stolen, lost, used without authorisation or otherwise compromised, you are advised to change your password. We rely on you to regularly check the transactions history of your Wise Account. Contact Customer Support immediately in case of any unauthorised, incorrect, or misdirected transaction, or if you suspect that your Wise Account has been compromised. Any undue delay in notifying us may not only affect the security of your Wise Account but may result in you being responsible for financial losses.

We may suspend your Wise Account or otherwise restrict its functionality if we have concerns about:

  1. the security of the Wise Account or any of its security features; or
  2. unauthorised or fraudulent use of your Wise Account or any of its security features.

We will notify you of any suspension or restriction of your Wise Account and of the reasons for such suspension or restriction as soon as we can, unless notifying you would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.

You must make sure that your email account(s) are secure and only accessed by you, as your email address may be used to reset passwords or to communicate with you about the security of your Wise Account. Let Customer Support know immediately if your email address becomes compromised.

When using a device to access your Wise Account, you should do at the minimum the following:

  1. update the device’s browser to the latest version available;
  2. patch the device’s operating systems with regular security updates provided by the operating system provider;
  3. install and maintain the latest anti-virus software on the device, where applicable; and
  4. use strong passwords, such as a mixture of letters, numbers and symbols. Follow recommended practices on passwords, for example: https://support.google.com/accounts/answer/32040.

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

11. Uploading money into your Wise Account

11.1 How to upload money into your Wise Account. To upload money, you need to login into your Wise Account and follow the steps as they appear on screen. We are not responsible for the money you have uploaded until we have received them. For clarity, in an upload transaction, we are the recipient of funds and not the payment services provider.

11.2 Payin Methods. You may be presented with one or more methods of upload for example, bank transfer, credit cards or debit cards (in this Customer Agreement, we will call these methods “Payin Methods”). The number of Payin Methods made available to you will depend on a number of factors including the currencies selected, where you live and your verification status with us. Payin 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. We cannot guarantee the use of any particular Payin Method and may change or stop offering a Payin Method at any time without notice to you.

11.3 Payment instrument must be in your name. Any payment instrument (for example, the credit card or debit card) you use with your chosen Payin Method must be in your name.

11.4 Chargebacks on your payment instrument. If you selected a Payin Method which gives you chargeback rights (for example in relation to your credit card, you may ask your card provider to reverse a transaction on your card), you promise that you will only exercise this chargeback right if:

  • (a) we have breached this Customer Agreement; or
  • (b) there was an unauthorised use of your payment instrument.

You promise that you will not exercise your chargeback right for reasons which we are not responsible, including a dispute with your recipient or there is insufficient funds in your payment instrument. If we need to investigate or take any actions in connection with a chargeback raised by you, we may charge you for our costs in doing so and may deduct such amount from your Wise Account.

11.5 Upload limits on your Wise Account. For legal and security reasons, we impose limits on how much you can upload into your Wise Account.

11.6 When we will credit your Wise Account. We will credit your Wise Account once we have received your money. For some Payin Methods such as credit or debit card, we will credit the money to your Wise Account as soon as possible subject to our right of reversal. This means if the actual amount you intended to upload do not reach us within a reasonable time, we may deduct such amount from your Wise Account. If you do not have enough money in your Wise Account for this purpose, we can demand repayment from you using other methods.

12. Sending money

12.1 Setting up your payment order. You must set up your payment order from your Wise Account. Your order may either be:

  • (a) a "Fixed Source Order" which is a payment order where you indicate that you wish to send and convert a fixed amount of Source Currency to your recipient whom will receive the converted amount in the Target Currency; or
  • (b) a "Fixed Target Order" which is a transfer where you indicate that you wish to send and convert a fixed amount of Target Currency to your recipient from the Source Currency you pay into Wise.

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

12.2 Information you need to provide to set up a payment order. To set up a payment order via your Wise Account, you need to provide certain information to us including (a) the full name of your recipient, (b) your recipient’s bank account details or their Wise Account details and (c) amount to be transferred.

12.3 Payment order limits. Your payment order must not exceed SGD 1,900,000 or other currency equivalent. For more information on the applicable limits, please visit our FAQ.

12.4 When is your payment order received. If your payment order is received by us after 5pm on a Business Day or not on a Business Day, your payment order will be deemed received on the following Business Day.

12.5 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 payment order 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.

12.6 You need to provide us with sufficient funds before we can process your payment order. We will only process your payment order if we hold or have received sufficient cleared funds in your Wise Account. It is your responsibility to fund your payment order in a timely manner. We can not be responsible for the time it takes for the money to be sent to us by your bank or payment service provider.

12.7 Verification checks may increase the time for processing your payment order. We carry out verification checks, and these checks may increase the time it takes to process your payment order. We cannot be responsible for any delays as a result of carrying out those checks.

12.8 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 FAQ section of our Website, please refer to the applicable currencies in your payment order.

12.9 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 your or otherwise specified in our FAQ section. 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.

12.10 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 on how to correct any factual errors. However, we are not required to notify you if such notification would be unlawful.

12.11 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 FAQ. You cannot cancel your payment order once your funds have been converted into the Target Currency you requested.

12.12 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.

12.13 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.

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

13. Exchange Rates

13.1 The applicable exchange rate. We will let you know the exchange rate:

(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.

13.2 Exchange rate

(a) Except as specified in section 13.2(b) below, when we refer to an exchange rate in this Agreement, it means the mid-market exchange rate at the relevant time for the relevant currency pair (for example, GBP to EUR, USD to AUD) as provided by our reference rate provider, Reuters. We may change our reference rate provider from time to time without notice to you.

(b) For some currencies, we cannot use the mid-market exchange rate as we are required to use a different reference rate for the exchange rate for your currency pair. For example, for transfers to Nigeria (NGN), we are required to use the rate set by the Central Bank of Nigeria. For these currencies we will notify you of the reference rate used for the exchange rate when you place your payment order.

13.3 Guaranteed rates. We offer automatic guaranteed rates on certain payment orders based on the table and subject to the conditions here, which may be changed from time to time.

14. Receiving money

14.1 You can receive money into your Wise Account. You can receive money into your Wise Account using methods which we support from time to time.

14.2 The money received is shown in your Wise Account. Any money you receive into your Wise Account will be recorded in the transaction history section of your Wise Account. You should check the incoming funds in your Wise Account against your own records regularly and let us know if there are any irregularities.

14.3 The money received may be subject to reversal. You acknowledge that the money received in your Wise Account ("Received Amount") may be subject to reversal and you agree that we may deduct the Received Amount from your Wise Account if it was reversed by the person who paid you the Received Amount or any relevant payment services provider.

14.4 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 then, 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.

15. Maintaining your Wise Account

15.1 Transaction history is displayed on your Wise Account. All your transactions (including your current balance, money you have uploaded, received, sent and/or withdrawn) are recorded in the transaction history section of your Wise Account. You may access this information after you login into your Wise Account. We have allocated a reference number to each transaction, you should quote this reference number when communicating with us about a particular transaction.

15.2 Check your Wise Account regularly. You must check your Wise Account regularly and carefully and contact us immediately if you don’t recognise a transaction or think we have made a payment incorrectly. You must tell us about any unauthorised or incorrectly executed transactions immediately to have any errors corrected.

15.3 You accept the risks of holding balances in multiple currencies. You agree and accept all the risks associated with maintaining balances in multiple currencies including any risks associated with fluctuations in the relevant exchange rates over time. You agree that you will not use our Services for speculative trading.

15.4 No negative balance in your Wise Account. You agree to always have a zero or positive Balance in your Wise Account. If your Wise Account goes into a negative balance as a result of a chargeback, reversal of a transaction, deduction of fees or any other action carried by you, you promise to repay the negative balance immediately without any notice from us. We may send you reminders or take such other reasonable actions to recover the negative balance from you, for example, we may use a debt collection service or take further legal actions. We will charge you for any costs we may incur as a result of these additional collection efforts.

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

16. Withdrawing from your Wise Account

16.1 You can request to withdraw your money. After you log into your Wise Account, you may request all or part of your money held in your Wise Account to be withdrawn. Press "send money" and follow the steps as prompted on screen. We will charge you a fee for each withdrawal request, we will let you know the exact amount when you submit your request. You can also find out more information about the fees we charge on the Pricing Page.

16.2 Payout Methods available to you. You may be presented with one or more methods of withdrawal (in this Customer Agreement, we will call these methods "Payout Methods"). The number of Payout Methods made available to you will depend on a number of factors including where you live and your verification status with us. We cannot guarantee the use of any particular Payout Method and may change or stop offering a Payout Method at any time without notice to you, but we will ensure that you will always have at least one Payout Method available to you.

16.3 Payout Methods are not part of our Services. Payout Methods are not part of our Services, they are services provided by third parties for example the bank where you hold your bank account. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.

16.4 You must provide correct information to us. When setting up your withdrawal request, you must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful.

16.5 Your withdrawal request is subject to limits. Your agree that Wise Account is subject to withdrawal limits. If your withdrawal request exceeds the current limit, we may decline your request and require you provide additional documents to us so that we could carry out additional checks before allowing the money to be withdrawn.

17. How much will you pay?

17.1 You must pay our fees. You must pay the fees in connection with the use of our Services. We will not process your transaction until we have received the fees from you.

17.2 You can see our fee structure on the Pricing page. We will let you know the exact amount payable by you when you set up your order. 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 Customer Agreement which may be subject to change as set out in section 26.

17.3 We can make deductions from your Wise Account. You agree that we are authorised to deduct our fees, any applicable reversal amounts, and/or any amounts you owe us from your Wise Account. If you don’t have enough money in your Wise Account to cover these amounts, we may refuse to execute the relevant transaction or provide any Services to you.

18. Currency Conversion

18.1 You may convert the money held in one currency in your Wise Account into other currencies we support from time to time. You can only perform a conversion in respect of funds that you already hold in your Wise Account. A conversion fee will apply when we performs a currency conversion, for more information, please refer to the Pricing Page.

19. Closing your Wise Account

19.1 You may close your Wise Account at any time. You may end this Customer Agreement and close your Wise Account at any time by contacting our Customer Support.

19.2 You should withdraw your money within a reasonable time. At the time of closure, if you still have money in your Wise Account, you must withdraw your money within a reasonable period of time by following the steps described in section 16. After a reasonable period of time, you will no longer have access to your Wise Account, but you can still withdraw your money by contacting Customer Support. You have the right to do this for a period of 6 years from the date your Wise Account is closed.

19.3 You must not close your Wise Account to avoid an investigation. You must not close your Wise Account to avoid an investigation. If you attempt to close 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.

19.4 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.

20. Intellectual property rights

20.1 While you are using our Services, you may use the Wise Materials only for your personal use and solely as necessary in relation to those Services.

20.2 "Wise Materials" includes any software (including without limitation developer tools, sample source code, and code libraries), data, materials, content and printed and electronic documentation (including any specifications and integration guides) developed and provided by us or our affiliates to you for download from our Website. You may not, and may not attempt to, directly or indirectly:

  1. transfer, sublicense, loan, sell, assign, lease, rent, distribute or grant rights in the Service or the Wise Materials to any person or entity;
  2. remove, obscure, or alter any notice of any of our trade marks, or other "intellectual property" appearing on or contained within the Services or on any Wise Materials;
  3. modify, copy, tamper with or otherwise create derivative works of any software included in the Wise Materials; or
  4. 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.

21. Our responsibility for loss or damage by you

OTHER THAN EXPRESSLY SET OUT IN THIS AGREEMENT, NEITHER WISE NOR OUR OFFICERS, DIRECTORS, EMPLOYEES, SUPPLIERS, AGENTS, AND RELATED ENTITIES MAKE ANY SPECIFIC PROMISES ABOUT OUR SERVICES. FOR EXAMPLE, WE DON'T MAKE ANY COMMITMENTS ABOUT THE CONTENT WITHIN THE SERVICES, THE SPECIFIC FUNCTIONS OF THE SERVICES, OR THEIR RELIABILITY, AVAILABILITY, OR ABILITY TO MEET YOUR NEEDS. WE PROVIDE THE SERVICES "AS IS".

SOME JURISDICTIONS PROVIDE FOR CERTAIN WARRANTIES, LIKE THE IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. TO THE FULLEST EXTENT PERMITTED BY LAW, WE EXCLUDE ALL WARRANTIES.

To the fullest extent permitted by law (and without limiting any other provision in this Customer Agreement), we, and our related entities, exclude all liability to you or anyone else for any loss or damage of any kind (howsoever caused or arising) arising from or in connection with the Services.

Without limiting the above, in the event that you or your employees, officers or agents are on our premises (or those of our authorised agent), we shall, to the fullest extent permitted by applicable law, not be liable for any loss or damage (including death, personal injury or damage to property) arising from or in connection with being on such premises.

We do not exclude or limit in any way our liability to you where it would be unlawful to do so, for example, for death or personal injury resulting from our negligence, or for fraud or fraudulent misrepresentation.

We only provide our Services to you for your personal and private use. If you use our Services for any commercial or business purpose we will not be liable to you for any loss of profit, loss of business, business interruption, loss of business opportunity, or consequential loss.

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

We have no control over websites linked to and from our Website and so we assume no responsibility for their content or any loss or damage that may arise from your use of them.

We (and our officers, directors, employees, suppliers, agents and related entities) cannot be liable for any failure to perform, or delay in performing, any of our obligations as a result of events which are outside our control. An event which is outside our control refers to any act or event beyond our reasonable control, including, but without limitation to, strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks or impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport.

To the fullest extent permitted by applicable law, you shall be responsible and hold us (and our officers, directors, employees, suppliers, agents and related entities) harmless from any and all loss, damage, liabilities, claims, costs and expenses due to, or arising out of or in connection with, your breach of this Agreement or any applicable law or regulation, your use of our Services and/or any fraud by you. This provision shall continue to be in force even after you cease using our Services.

22. Accessing our 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. You are responsible for making all arrangements necessary for you to have access to our Services.

23. Information security

23.1 We do not guarantee that our Website will be free from bugs or viruses.

23.2 You are responsible for configuring your information technology, computer programmes and platform in order to access our Services. You should use your own virus protection software.

23.3 You must not misuse our Services by introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to our Website, or our servers, computers or databases. You must not attack our Website via a denial-of-service attack or a distributed denial-of-service attack. By breaching this provision, you may be guilty of a criminal offence under the Computer Misuse and Cybersecurity Act (Cap. 50A). We will report any such breach to the relevant government authorities, public agencies, and/or law enforcement agencies and co-operate with such authorities/agencies by disclosing your identity to them. In the event of such a breach, your right to use our Services will cease immediately.

24. Linking to our site

24.1 You may link to our Website provided you follow certain rules. You may link to our Website, provided:

  • (a) you do so in a way that is fair and legal and does not damage our reputation or take advantage of it;
  • (b) you do not suggest any form of association, approval or endorsement on our part where none exists;
  • (c) you do not frame our Website on any other site; and
  • (d) the website complies our Acceptable Use Policy.

We reserve the right to withdraw linking permission without notice.

25. When we can end this Customer Agreement or suspend our Services

25.1 We may, at any time, terminate your Wise Account or any service associated with it without giving any prior notice or reason for doing so. You may terminate your Wise Account with us at any time by contacting Customer Support.

We may at any time suspend or terminate your Wise Account without notice if:

  1. you breach any provision of this Agreement or documents referred to in this Agreement;
  2. we have reason to believe you are in violation of any applicable law or regulation;
  3. we are requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency; or
  4. we have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal and/or illegal activity.

We may suspend your Wise Account at any time if:

  1. we believe that your Wise Account has been compromised or for other security reasons; or
  2. we suspect your Wise Account has been used or is being used without your authorisation or fraudulently, and
  3. we will let you know as soon as we can if we need to suspend your Wise Account, unless notifying you would be unlawful or compromise our reasonable security interests.

25.2 You can not use the App if this Customer 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.

26. Our right to make changes

26.1 We may change this Customer Agreement at any time by posting a revised version on this page. The revised version will be effective once it is posted. Where appropriate, we may notify you of any changes to this Customer Agreement by email. Please check back frequently to see if there are any updates or changes to this Customer Agreement, as it is legally binding on you. If you do not agree to the revised terms in this Customer Agreement, you should terminate your Wise Account and discontinue your use of our Services.

26.2 This Customer Agreement may not be amended in any other way.

27. Communication and Complaints

27.1 We usually contact you via email. For this purpose, you must at all times maintain at least one valid email address in your Wise Account profile. You are required to check for incoming messages regularly and frequently. Emails may contain links to further communication on our Website. Any communications or notices sent by email will be deemed received by you on the same day if it is received in your email inbox before 5pm on a Business Day. If it is received in your email inbox after 5pm on a Business Day or not on a Business Day, it will be deemed received on the next Business Day.

27.2 In addition to communicating via email, we may contact you via letter or telephone where appropriate. If you use any mobile services, we may also communicate with you via SMS. Any communications or notices sent by post will be deemed received three (3) days from the date of posting for Singapore post or within five (5) days of posting for international post. Any communications or notices sent by SMS will be deemed received the same day.

27.3 Where legislation requires us to provide information to you on a durable medium, we will either send you an email (with or without attachment) or send you a notification pointing you to information on our website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference. Do keep copies of all communications we send or make available to you. If you need a copy of the current Agreement or any other relevant document, please contact Customer Support. You may contact us via email, letter or telephone by using the details specified in the "Contact" section of our Website.

27.4 This Agreement is made in the English language. Documents or communications in any other languages are for your convenience and only the English language versions of them are official.

27.5 Complaints. If you have any complaints about us or our Services, you may contact us in accordance with our customer complaint procedure.

28. Other important terms

28.1 This Customer Agreement is between you and us. No other person shall have any rights to enforce any of its terms.

28.2 You may only transfer your rights or your obligations under this Customer Agreement to another person if we agree to this in writing.

28.3 This Customer Agreement constitutes the entire agreement between you and Wise, and supersedes all previous agreements, promises, arrangements and understandings between us relating to its subject matter.

28.4 Each provision in this Customer Agreement operates separately. If any court of competent jurisdiction decides that any of them are invalid or unenforceable, such invalidity or unenforceability shall not affect the remaining provisions of this Customer Agreement, all of which will remain in full force and effect.

28.5 If we delay or fail to exercise any right or remedy provided by law or under this Customer Agreement, this will not prevent us from exercising such right or remedy against you at a later date.

28.6 Which laws apply to this Customer Agreement and where you may bring legal proceedings. This Customer Agreement, and any dispute or claim arising out of or in connection with it and/or your Wise Account, or its subject matter or formation (including non-contractual disputes or claims) shall be governed by Singapore law. Any dispute or claim between you and us arising out of or in connection with this Customer Agreement and/or your Wise Account may be brought in the courts of Singapore.

29. Duties of Account Holders and Account Users

29.1 The Duty of the Account Holder and Users is to provide contact information, opt to receive all outgoing transaction notifications and monitor notifications, if any.

Including:

  • Providing us with contact details as required for us to send you transaction notifications
  • Providing the following contact information which must be complete and accurate to us:
    • If opted to receive transaction notifications by SMS; to provide Singapore Mobile Phone Number
    • If opted to receive transaction notification by Email; to provide email address

29.2 It is your responsibility as an account holder to enable transaction alerts on any device used to receive transaction notifications from us, to opt to receive all transaction notifications for all outgoing transactions of (any amount) made from your account and to monitor the transaction notifications sent to your account contact provided. We will assume that you will monitor such transaction notifications without further reminders or repeat notifications.

29.3 You should not:

  • Voluntarily disclose any access code to any third party, except as instructed by us for any purpose including to initiate or execute any payment transaction involving the protected account
  • Disclose the access code in a recognisable way on any payment account, authentication device, or any container for the payment account
  • Keep a record of any access code in a way that allows any third party to easily misuse the access code

29.4 You are to ensure to make reasonable efforts to secure a record of any access code including:

  • Keeping the record in a secure electronic or physical location accessible or known only to the account user
  • Keeping the record in a place where the record is unlikely to be found by a third party

29.5 You should do at the minimum the following where a device is used to access the protected account:

  • Update the device’s browser to the latest version available
  • Patch the device’s operating systems with regular security updates provided by the Operating System provider
  • Install and maintain the latest anti-virus software on the device, where applicable
  • Use strong passwords, such as a mixture of letters, numbers and symbols

29.6 You should where possible follow the security instructions/advice provided by us to you.

29.7 You should ensure to report any unauthorised transactions to us as soon as practicable after receipt of any transaction notification alert for any unauthorised transaction. Where you are unable to report immediately, you should provide us with the reasons for the delayed report, if requested. This includes time periods or circumstances where it would not be reasonable to expect yourself to monitor transaction notifications.

The report should made in any of the following ways:

  • By reporting the unauthorised transaction in any communications channel for such purpose
  • By reporting the unauthorised transaction to us in any other way and where we will acknowledge the receipt of such a report

29.8 You are to provide us within a reasonable time with any of the following information as requested by us:

  • The account affected
  • Account Holder’s identification information
  • Type of authentication device, access code and device used to perform the payment transaction
  • The name or identity of any account user for the protected account
  • Whether a protected account, authentication device, or access code was lost, stolen or misused and if so; the date and time of the loss or misuse, the date and time that the loss or misuse was reported to us, and the date and time that the loss or misuse was reported to the police
  • Where any access code is applicable to the Account, how the account holder may have recorded the access code, and whether it was disclosed to anyone
  • Any other information about the unauthorised transaction that is known to you

29.9 You should make a police report if we request such a report to be made to facilitate the claims investigation process.

30. Duties of Wise to you

30.1 We will provide transaction notifications that fulfil the following criteria to each account holder of the account we have been instructed to send transaction notifications to in accordance with 29.1

  • The Transaction notification will be sent to your account contact
  • The Transaction notification will be sent on a real time basis for each transaction
  • The Transaction notification will be conveyed to you by way of SMS or Email; along with an in-app notification
  • The Transaction information should contain the following information, but we may omit any confidential information provided that the information provided to you still allows you to identify the transaction as being an authorised transaction or unauthorised transaction.
    • Information that allows the you to identify the protected account such as the protected account number;
    • Information that allows the you to identify the recipient whether by name or by other credentials such as the recipient’s account number;
    • Information that allows us to later identify the account holder, the protected account, and the recipient account such as each account number or name of the account holder;
    • Transaction amount;
    • Transaction time and date;
    • Transaction type;
    • If the transaction is for goods and services provided by a business, the trading name of the merchant and where possible, the merchant’s reference number for the transaction.

30.2 Where transactions are made by way of internet banking, any mobile phone application or device arrange for by us for payment transactions, we will provide an onscreen opportunity for you to confirm the payment transaction and recipient credentials before we execute any authorised payment transaction.

Including:

  • Information that allows you to identify the account to be debited
  • The intended transaction amount
  • Credentials of the intended recipient that is sufficient for you to identify the recipient, which at the minimum should be the recipient’s phone number, identification number, account number or name as registered for the purpose of receiving such payments
  • A warning to ask you to check the information before executing the payment transaction

30.3 We will provide you with a reporting channel for the purposes of reporting unauthorised or erroneous transactions; including:

  • Manned phone line, and a monitored email address
  • Any person who makes a report through the reporting channel will receive a written acknowledgement of the report through email
  • We will not charge a fee to any person who makes a report through the reporting channel for the report of any service to facilitate the report
  • The reporting channels are available at any time every calendar day

30.4 We will assess any claim made by you in relation to any unauthorised transaction. We will resolve such a claim in a fair and reasonable manner, and communicate the claim resolution process and assessment to you in a timely and transparent manner.

30.5 We may require that you furnish a police report in respect of any unauthorised transaction claim, before we can begin the claims resolution process. We will also provide you with the relevant information we have of all the unauthorised transactions initiated from the account, including transaction dates, transaction timestamps and parties to the transactions.

30.6 We aim to complete an investigation for any relevant claim within 21 business days for straightforward cases or 45 business days for complex cases.

30.7 Where you do not agree with our assessment of liability; you and us may proceed to commence other forms of dispute resolution, including mediation at FIDReC where we are a FIDReC member.

30.8 We will credit your account with the total loss arising from any unauthorised transaction as soon as we have completed its investigation and assessed that you are not liable for any loss arising from the unauthorised transaction. We will disclose this arrangement to you at the time you report the unauthorised transaction to us, and inform you of the timeline for completing its investigation.