Wise Terms of Use (Superseded URL)

This Customer Agreement governs the relationship between individual consumers and Wise US Inc., a Delaware-incorporated money transmitter licensed in applicable US states, covering services including multi-currency account holding, currency conversion, money transfers, card issuance, and related features. The agreement states that users must be at least 18 years old, may hold only one account and profile, must transact solely on their own behalf, and authorizes Wise to deduct fees, reversal amounts, and negative balances directly from the Wise Account; the terms also authorize Wise to suspend, restrict, or close accounts at its sole discretion for a broad range of enumerated and non-enumerated reasons including suspected policy violations, fraud, or regulatory requirements. Section 28 establishes a mandatory arbitration clause with class action and jury trial waivers, with a 21-day opt-out window from account opening; this dispute resolution structure engages the Federal Arbitration Act and may interact with consumer protection frameworks depending on jurisdiction and applicable state law. The document discloses that Wise Account balances are not automatically FDIC-insured unless the user affirmatively opts into the interest feature, which sweeps USD funds into partner bank accounts eligible for FDIC coverage; funds held outside that feature are safeguarded as permissible investments under money transmitter regulations but do not carry deposit insurance. Applicable regulatory frameworks include the Bank Secrecy Act, USA PATRIOT Act, state money transmitter licensing regimes, CFPB remittance transfer rules under the Electronic Fund Transfer Act, and state escheatment laws; compliance exposure is heightened for multi-state operations given the state-by-state licensing structure and varying dormant account periods of three to five years depending on state of residence.