Wise is legally required to verify who you are before you can use the service, and they can put your account on hold if they need more identity documents from you.
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.
View full change record →This provision requires you to submit identity documents including government-issued ID and potentially additional financial information, and Wise can freeze your account at any time if they determine further verification is needed, which may delay access to your funds.
Cross-platform context
See how other platforms handle KYC and Identity Verification Obligations and similar clauses.
Compare across platforms →Failure to provide required identity documents promptly can result in your account being suspended and your funds being temporarily inaccessible while Wise completes verification.
(1) REGULATORY FRAMEWORK: This provision implements BSA/USA PATRIOT Act obligations (31 U.S.C. §5318(l)) and FinCEN's Customer Identification Program (CIP) rules (31 CFR §1022.210) applicable to money services businesses. OFAC regulations (31 CFR Chapter V) require screening of customers against sanctions lists. FinCEN's Customer Due Diligence (CDD) rule (31 CFR §1010.230) requires beneficial ownership verification for legal entity customers. The CFPB's UDAAP authority applies to the manner in which verification requests are communicated to consumers. (2)
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