Wise collects your personal and financial data to provide its services, comply with legal obligations, and may share it with third parties including financial institutions and regulators.
Your sensitive financial and personal information is shared with multiple parties, and understanding how it is used and protected is important for your privacy.
Data collection and sharing practices implicate the Gramm-Leach-Bliley Act (GLBA) privacy provisions, CCPA for California residents, and FinCEN recordkeeping requirements. Compliance teams should review Wise's privacy notice alongside the Customer Agreement to assess data governance obligations.
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Wise's US terms significantly affect consumers' legal rights by requiring binding arbitration for disputes and waiving the right to participate in class action lawsuits, which limits recourse options if something goes wrong. Wise also reserves the right to suspend or close accounts at its discretion, which could affect access to funds. You can opt out of the arbitration clause by sending written notice to Wise within 30 days of first accepting the agreement.