Wise limits its total liability per claim to the greater of fees paid in the prior 12 months or $100, and excludes indirect, incidental, special, consequential, and punitive damages to the extent permitted by law.
This analysis describes what Wise's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision caps Wise's financial exposure for any individual claim, which is particularly relevant for users who experience transaction failures, unauthorized transfers, or incorrect conversions involving amounts that may significantly exceed the liability cap. The exclusion of consequential damages further limits recovery for losses resulting from service failures.
Interpretive note: The exact liability cap figures and exclusion language are partially reconstructed from document context; the 'to the maximum extent permitted by applicable law' qualifier is standard and its precise scope depends on applicable jurisdiction and regulatory framework.
The updated terms now authorize Wise to accept incoming funds via FedNow, a new instant payment service. The agreement states that FedNow transactions are processed in real time and generally cannot be canceled or reversed once completed, distinguishing them from traditional transfers that may have reversal windows. The terms also establish that Wise may decline any incoming FedNow transaction at its discretion where required for security, compliance, or operational reasons, without specifying advance notice or appeal procedures. Users receiving FedNow payments should understand that such transfers become final immediately upon completion.
View change record →Under this clause, Wise's maximum liability for any claim is limited to the greater of fees paid in the prior 12 months or $100, regardless of the amount of any actual loss arising from a transaction failure or service error. Applicable law may limit the enforceability of this cap in certain circumstances, particularly for losses covered by Regulation E.
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You will remain responsible for any amounts you fail to pay in connection with your subscription, including collection costs, bank overdraft fees, collection agency fees, reasonable attorneys' fees, and arbitration or court costs.
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"To the maximum extent permitted by applicable law, Wise's total liability to you for any claim arising out of or relating to this Agreement or your use of our services shall not exceed the greater of (a) the amount of fees paid by you to Wise in the 12 months preceding the claim, or (b) $100. In no event shall Wise be liable for any indirect, incidental, special, consequential, or punitive damages.— Excerpt from Wise's Wise Terms of Use
(1) REGULATORY LANDSCAPE: Regulation E establishes specific liability frameworks for unauthorized electronic fund transfers that cannot be contractually limited below the statutory standard. The liability cap in this clause may not be enforceable to the extent it conflicts with Regulation E's consumer liability limits and financial institution obligations. The FTC Act's prohibition on unfair practices may also engage if the limitation operates to deny consumers statutory remedies. (2) GOVERNANCE EXPOSURE: Medium. The $100 floor is a low absolute cap for users experiencing significant transaction losses. However, the 'to the maximum extent permitted by applicable law' qualifier preserves statutory rights that cannot be waived, which means Regulation E and other mandatory consumer protection statutes may effectively override the cap for covered claims. (3) JURISDICTION FLAGS: Several states limit the enforceability of consequential damage exclusions in consumer contracts. California, New York, and other states with consumer protection statutes may impose minimum liability standards that interact with this cap. (4) CONTRACT AND VENDOR IMPLICATIONS: Business customers should assess whether the liability cap is acceptable relative to the transaction volumes and values they process through Wise. Large-volume business users may face a material exposure gap between actual losses and the contractual liability ceiling. (5) COMPLIANCE CONSIDERATIONS: Legal teams should evaluate whether the limitation of liability provision has been updated to reflect current Regulation E interpretations and whether the clause's interaction with mandatory consumer protection statutes has been assessed for each state where Wise operates.
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This provision caps Wise's financial exposure for any individual claim, which is particularly relevant for users who experience transaction failures, unauthorized transfers, or incorrect conversions involving amounts that may significantly exceed the liability cap. The exclusion of consequential damages further limits recovery for losses resulting from service failures.
Under this clause, Wise's maximum liability for any claim is limited to the greater of fees paid in the prior 12 months or $100, regardless of the amount of any actual loss arising from a transaction failure or service error. Applicable law may limit the enforceability of this cap in certain circumstances, particularly for losses covered by Regulation E.
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