Wise updated their Terms of Use on May 1, 2026, moving from version 1.1 to 1.2. The main substantive change is that the previous wording allowed financial limits on payment methods for 'legal, security, or other reasons,' but the new wording restricts those justifications to only 'legal and security reasons.' This slightly narrows the stated grounds Wise can use to impose financial limits on your account.
Wise previously reserved the right to impose financial limits on your payment methods for 'legal, security, or other reasons,' which gave them broad discretion. The updated terms narrow this to only 'legal and security reasons,' removing the catch-all 'other reasons' justification. This is a modest improvement for consumers, as Wise can no longer cite unspecified reasons to restrict how much money you can add to your account.
Wise can no longer use vague unspecified reasons to limit how much money you can add to your account — only legal or security justifications are now allowed.
Removing 'or other reasons' means Wise can no longer impose financial limits on your account for unstated or arbitrary reasons, giving consumers slightly stronger protection. While the practical impact is modest, it represents a clearer, more accountable commitment from Wise.
Grounds for imposing financial limits on payment methods narrowed from 'legal, security, or other reasons' to 'legal and security reasons' only, removing Wise's catch-all discretion.
Terms updated from version 1.1 (April 14, 2026) to version 1.2 (April 30, 2026), reflecting a formal document revision.
ConductAtlas Policy Archive Entity: Wise | Document: Wise Terms of Use | Record: CA-C-000765 Captured: 2026-05-01 06:23:57 UTC URL: https://conductatlas.com/change/2026-05-01-wise-wise-terms-of-use-765/ Accessed: May 2, 2026
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Wise updated its consumer Terms of Use to version 1.2 on May 1, 2026. The substantive change removes the phrase 'or other reasons' from the clause permitting financial limits on Pay-in Methods, restricting justifications to 'legal and security reasons' only. This touches payment service transparency obligations under PSD2 (Art. 45, 52) and FCA consumer duty principles, but represents a narrowing of corporate discretion rather than an expansion. No immediate compliance action is required for organizations using Wise, but vendor risk assessments should note the update.
1. FCA Consumer Duty (PS22/9, July 2023) — Outcome 4 (Consumer Support): Removing vague 'other reasons' language for payment limits aligns with FCA expectations that firms provide clear, transparent justifications for restricting customer access to funds. Relevant to FCA-regulated firms using Wise.
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ConductAtlas provides verified policy intelligence sourced directly from platform documents. All analysis is intended to support, not replace, legal and compliance review. Record CA-C-000765.
This is a new explicit provision renaming and expanding upon the previous generic 'AML and Sanctions Compliance Obligations' with specific KYC verification requirements and account suspension authority pending verification.
This new provision shifts security liability to users and creates an affirmative notification obligation, establishing user responsibility as a high-severity term that limits Wise's liability.
This new provision expands on the previous generic 'Data Collection and Use Consent' by explicitly authorizing broad third-party data sharing including with regulatory authorities and for business purposes.
The removal of this high-impact provision reduces user liability exposure by eliminating the requirement to indemnify Wise, though liability limitations remain in place.
The removal of this separate provision has been subsumed into the more comprehensive 'Limitation of Liability' provision in the current version.
Previous version had empty excerpt; current version now explicitly includes class action waiver language with detailed arbitration and individual capacity requirements.
Previous version had empty excerpt; current version now explicitly details suspension/termination conditions including suspension without cause or prior notice.
Previous version (Liability Cap) had empty excerpt; current version now explicitly excludes indirect, incidental, special, consequential, punitive, and exemplary damages.
Previous version (Unilateral Terms Amendment) had empty excerpt; current version now explicitly details the unilateral modification process with automatic acceptance via continued use.
Previous version (Fee and Exchange Rate Terms) had empty excerpt; current version now explicitly discloses mid-market exchange rate methodology and timing of rate application.
Previous version had empty excerpt; current version now explicitly specifies New York law and courts as governing jurisdiction, with carve-out for arbitration provisions.
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