Wise Card Supplement to the Customer Agreement

2.1 What this Supplement covers. These are the terms and conditions on which we provide the Card to you.

2.2 Why you should read it. Please read this Supplement carefully before you start using the Card. This Supplement (always together with the documents referred to in it) tells you who we are, features of the Card and how you may use it, how this Supplement may be changed or ended, what to do if there is a problem and other important information. If you think that there is a mistake in this Supplement or require any changes, please contact us to discuss.

2.3 Future changes to this Supplement. All future changes set out in the Customer Updates section of our Website at the time you apply for the Card are incorporated into this Supplement.

2.4 You accept this Supplement. By applying for, or using, your Card, you confirm that you accept and agree to this Supplement (including any future amendments and additions to this Supplement as published from time to time), and your continued use of the Card after any such changes, whether or not reviewed by you, shall constitute your consent and acceptance of the revised Supplement. We reserve the right to enhance, modify or cancel any features and benefits of the Card without prior notice. If you do not agree, please do not apply for, or continue to use, your Card.

2.5 Where to get a copy of this Supplement. You can always see the most current version of this Supplement on our Website. If you want a paper copy of this Supplement, please contact Customer Support.

In this Supplement:

Card – means the multi-currency prepaid forex card (whether in physical or virtual form, including any replacement card as applicable) issued by Vaho Forex Private Limited.

4.1 Who is the issuer of your Card. Your Card is issued by Vaho Forex Private Limited ("Wise/us/we"), a company incorporated under the laws of India with company identification number: U67190DL2005PTC143066.

4.2 We are an ‘Authorised Dealer Category II’ entity, authorised by the Reserve Bank of India (“RBI”) to, inter alia, release / remit foreign exchange for certain transactions (as identified under the Foreign Exchange Management Act, 1999), including to issue prepaid forex cards.

4.3 Features and information about your Card A summary of the key product features and information about your Card, including any applicable fees, is set out here.

5.1 The issuance and use of the Card shall be subject to applicable rules and regulations in force as issued by various statutory/regulatory authorities, including but not limited to the RBI, and under the various applicable laws including but not limited to the Foreign Exchange Management Act, 1999. Your Card is also linked to your Wise profile, which is governed by the Customer Agreement.

5.2 Verification checks. We carry out verification checks when you register for a Wise profile and may carry out further checks on an ad-hoc basis, for example, to require you to complete our customer verification processes or to provide relevant information or documents for account or transaction verification purposes. These checks may also increase the time it takes to process your order for a Card. We cannot be responsible for any delays as a result of carrying out those checks.

6.1 About your Card. The Card is a prepaid forex card which can be used to access and spend the funds which have been loaded into the Card. The Card cannot hold Indian Rupees as a currency, unless notified otherwise by Wise. Funds loaded in Indian Rupees will be converted into other currencies supported by Wise. We do not offer interest on the funds which have been loaded into the Card, and these funds do not constitute a deposit with Wise and are not insured by any deposit protection scheme. The Card is not a guarantee card, charge card or credit card.

6.2 How to activate your Card. If you receive a physical Card, please sign the back of it as soon as you receive it and keep it safe. You can activate your Card by following the instructions in the App or on our Website.

6.3 We are not liable for certain losses. We are not responsible for the quality, safety, legality, or any other aspect of any goods or services purchased with the Card. We are not liable for any loss arising from any merchant refusing to accept your Card, or any ATM failing to dispense cash. You are responsible for losses arising from gross negligence, or failing to conduct adequate due diligence on the merchants you transact with.

6.4 Suspension or Cancellation. We can close or suspend your Wise profile at any time (see Customer Agreement) and we can suspend or cancel your Card, including if the activity on your Card appears suspicious, fraudulent or we believe it to be associated with criminal activity or activity which is inconsistent with this Agreement. Unusual or multiple purchases may prompt a merchant inquiry or Card suspension that is necessary to allow us to investigate such activity. We reserve the right, in our sole discretion, to limit your use of the Card. We may refuse to issue or replace a Card or may revoke Card privileges, other than as required by applicable law. You agree not to use or allow others to use an expired, revoked, cancelled, suspended or otherwise invalid Card. We will not incur liability to you because of the unavailability of the funds that may be associated with your Card.

6.5 Your use of the Card is subject to limits. The use of your Card must stay within the limits prescribed by the RBI under the Foreign Exchange Management Act, 1999 (including but not restricted to limits imposed under the RBI’s Liberalised Remittance Scheme (“LRS”)). If the total amount of foreign currency transactions undertaken by you during a financial year from 1 April to 31 March exceeds USD 250,000 (United States Dollars Two Hundred and Fifty Thousand Only) or such other limit as prescribed by the RBI under the Foreign Exchange Management Act, 1999 (including but not restricted to limits imposed under the LRS) from time to time, transactions on your Card may be declined and we will not be liable for any declined transactions. You also agree to be fully responsible for any costs, penalties, interest and/or legal fees that we may incur or become liable for because of your breach of such limits or any losses or penalties incurred in connection with such breach.

6.6 Adding funds to your Card. To add funds to your Card, you need to access your Wise profile, by logging in on our Website or App or via an API Partner, and follow the steps provided to initiate payment to our designated account maintained with our Bank Partner. You may be presented with one or more methods of adding funds to your Card (for example, a bank transfer). The number of payment methods made available to you will depend on a number of factors including where you live and your verification status with us. We cannot guarantee the availability of any particular payment method and we may change or stop offering a payment method at any time without notice to you. Any payment instrument (for example, the bank account) from which you make a transfer to add funds to your Card must be in your name.

6.7 Redemption of unutilised funds from your Card. You acknowledge that unutilised funds in your Card exceeding the aggregate amount of USD 2,000 (or such other limit as Wise may notify or implement in accordance with applicable regulations) are only permitted to be retained for 180 days (or such other period as Wise may notify or implement in accordance with applicable regulations). This period is calculated from the latest date of: (i) the last top-up to your Card, (ii) the last transaction, or (iii) Wise’s last verification of your transaction purpose. If excess unutilised funds are not redeemed within this period, Wise will seek to return them to you as required by applicable regulations. Redemption of the unutilised funds in the Card within our App or on our Website will be subject to the following conditions:

1. You may only request for redemption after the expiry of the prescribed period of 10 days (or such other prescribed time period) from the date of the last Card transaction.
2. Wise will verify if there is any unutilised balance of the funds in your Card available for redemption. Wise is entitled to reject the redemption request if insufficient funds are available for redemption.
3. Any redemption of the unutilised balance of the funds in your Card shall not result in reinstatement of your LRS limits.
4. The foreign currency funds will be converted to Indian Rupees by applying the applicable Wise exchange rate and the proceeds will be transferred to the bank account details that you have provided to us within the App or on our Website via electronic fund transfer, after deducting all applicable fees and any unsettled, outstanding, or disputed transactions. Wise will process all requests for redemption within such timelines as may be notified by Wise to you from time to time.

You also acknowledge that Wise may initiate the return of the unutilised funds in your Card or otherwise require you to withdraw the funds in your Card in order to comply with Wise’s regulatory obligations and/or any instructions, orders or directions of regulatory authorities or our banking partners.

6.8 During the top up or redemption process, Wise may be subject to charges and expenses including but not limited to foreign exchange losses when converted at the prevailing exchange rate, etc. You agree and acknowledge that Wise shall not be liable for such charges and expenses and you also agree to indemnify Wise in full against any and all losses incurred by Wise in connection with such costs or expenses.