You are responsible for keeping your Wise password secure and for anything that happens in your account. If someone else accesses your account because of your failure to protect your login, Wise will not cover those losses.
This new provision shifts security liability to users and creates an affirmative notification obligation, establishing user responsibility as a high-severity term that limits Wise's liability.
View full change record →This provision means that if your Wise account is hacked due to password reuse or phishing, and Wise determines you didn't adequately protect your credentials, you could be held responsible for all unauthorized transactions made from your account.
Cross-platform context
See how other platforms handle User Responsibility for Account Security and similar clauses.
Compare across platforms →If your account is compromised and you failed to take adequate security precautions or delayed reporting unauthorized access, Wise may deny liability for resulting financial losses — even if the underlying fraud was not your fault.
(1) REGULATORY FRAMEWORK: Consumer liability for unauthorized electronic fund transfers is governed by EFTA (15 U.S.C. §1693g) and Regulation E (12 CFR §1005.6), which cap consumer liability at $50 for unauthorized EFTs reported within 2 business days, $500 if reported between 2-60 business days, and potentially unlimited if reported after 60 days. Contractual provisions that purport to expand consumer liability beyond EFTA statutory limits are unenforceable. The CFPB has enforcement authority over violations of these consumer liability protections. (2)
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