If Wise makes a mistake that costs you money, the maximum amount they will pay you back is limited — typically capped at the total fees you paid to Wise in the prior 12 months.
If a failed or delayed transfer causes you significant financial loss — for example missing a property payment — you may only be able to recover a small amount from Wise regardless of actual damages.
The 12-month fee-based liability cap is a standard limitation of liability clause but may conflict with EFTA error resolution requirements, which mandate specific remediation timelines and amounts for unauthorized transfers. Legal teams should assess alignment with Regulation E 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.