US Business Group Terms and Conditions

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1. About these Terms

1.1 These Business Group terms and conditions (“Terms”) are exclusive to Business customers who use the Wise US Inc. (“Wise / us / we / our”) Business Group service as detailed in these Terms. These Terms describe your rights and obligations, and ours, and form a legally binding contract between you and Wise when you use this service. These Terms must be read together with your Customer Agreement, which sets out the terms that apply to your use of the Wise Account.

1.2 These Terms refer to and incorporate by reference additional documents (the “Additional Documents”), which also apply to your use of Wise’s Services, including:

• (a) Our Acceptable Use Policy, which sets out the allowed and restricted uses of our Services;
• (b) Our Pricing Page, which sets out our pricing and how it works;
• (c) Our Privacy Policy, which sets out the terms on which we process any personal data we collect about you, or that you provide to us; and
• (d) Our Electronic Communications Policy, which describes how Wise delivers communications to you electronically.

1.3 Capitalized words shall have the meanings set forth in the Additional Documents, except as set out below or otherwise defined within these Terms:

• (a) “Authorized User ” or “Team Member” means a person that you have authorized to access, use or operate a Wise Account on behalf of the Business.

• (b) “Business Group” means the feature designed to enable a Wise Business customer to separate funds, give Team Members access to those funds and have a dedicated card to spend those funds.

• (c) “Card” means a card issued on a Wise Account by Wise, either for your Main Account or a Business Group.

• (d) “Owner” means you or your Business as the owner of the Wise Account.

• (e) “Permissions“ means a custom set of settings that control what the Owner and each Authorized User can see and do on the Wise Account.

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2. What is our Business Group feature and how does it work

2.1 Business Groups is a feature designed for Wise business customers who wish to manage the Business’ money by helping them separate and segregate their funds and share and allow the spending of those segregated funds with other members of their team and employees in their Business.

2.2 This feature is connected to your Business’ Wise Account and enables the Owner and Authorized Users to share funds for expenditure purposes. Authorized Users can only access the Wise Account if they have been invited and their access, what they can see, is limited to the Permissions you grant them.

2.3 The Owner has all the Permissions over the Wise Account and can do, among others, the following actions:

• (a) close the Wise Account;

• (b) transfer ownership of the Wise Account; and

• (c) appeal account closure.

2.4 The Owner, or any Authorized User in the Wise Account with the Permission to create and manage Groups, can add other Authorized Users to a Group they are in. The Authorized User must be first added to the Wise Account. The Permissions that an Authorized User has been granted will determine what they can see and do as an Authorized User in the Group. Owners can restrict an Authorized User’s access to view, send and spend from the Business Group funds.

2.5 Wise’s Business Group service is currently available through the Website and App in the United States.

2.6 This Agreement allows the Owner and Authorized User(s) to receive a Card linked to the Group (in accordance with our Wise Card Terms), link it to their wallet such as Google Pay or Apple Pay, make in-store or online payments and make ATM withdrawals.

2.7 A Business Group is not a joint account. The Business as the Owner remains responsible for the funds at all times and all transactions made through the Group will be deemed to have been made by the Owner. The Owner is fully responsible for all transactions carried out by Authorized User(s) via the Group.

2.7 If the Wise Account is suspended or closed in line with our Customer Agreement, the Authorized User may have reduced access or may not be able to access the Group.

2.8 Any spendings and withdrawals are subject to any limits referred to in the Customer Agreement.

2.9 The Owner can always see all the transactions in the Group. Authorized User(s) can see all transactions if they have the specific Permission to do so.

2.10 The Owner is solely responsible for any form of misuse of the Business Group feature. The consequences of any form of misuse of the Group, including if either the Owner or Authorized User engage in fraudulent activity, shall be as set out in the Customer Agreement. By using the Business Group feature, the Owner agrees that Wise will not be a party to, nor liable for, any claim or dispute that may arise between the Owner and the Authorized User(s) in relation to the use of the Business Group feature.

2.11 Wise reserves the right to add or remove functionalities for the Business Group service at any time. Notice will only be provided if the removal of a feature impacts the terms of the Customer Agreement, in accordance with the prescribed notice period.

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3. Owners’ Rights and Obligations

3.1 The Owner can create multiple Groups, and each one can only be shared with Authorized Users who have access to the same Wise Account.

3.2 The Owner can open and close the Group at any time and without notice.

3.3 If a Group is closed, any Card linked to the Group is cancelled and the fee for any physical Card will not be refunded.

3.4 The Owner can add an Authorized User to the Group and can remove an Authorized User at any time from the Group.

3.5 The Owner can close the Group at any time without providing notice. The Authorized User cannot oppose this decision.

3.6 The Owner must inform Wise of any event that could have a legal or financial impact on the Group. In the event of a court order or other legal processes such as insolvency procedures, seizures or garnishments, we may be required to take certain actions in line with our Customer Agreement. Such action may include, but is not limited to: placing a reserve or limitation on the Group or releasing the funds on it.

3.7 The Owner is responsible for any taxes which may be due by them resulting from the use of the Services, and it is the Owner’s responsibility to collect, report and pay the correct tax to the appropriate tax authority.

3.8 The Owner controls the Authorized User’s Permissions. Granting Permission to any Authorized User does not relieve you of your responsibilities under these Terms or the Additional Documents, including notifying us if your Wise Account has been compromised or if a transaction is suspected to be incorrect or unauthorized. No Authorized User is able to change the Permissions of you as the Wise Account owner.

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4. Authorized Users’ Terms and Conditions

4.1 Authorized Users who have been granted the Permission to create and manage Groups can create multiple Groups and can add other Authorized Users to each Group. Each Group can only be shared with Authorized User(s) who are also part of the same Wise Account.

4.2 Authorized Users who have been granted the Permission to create and manage Groups can open and close the Group at any time and without notice.

4.3 Authorized Users who have been granted the Permission to create and manage Groups are by default added to the Group. They are by default Authorized Users of all Groups in the Wise Account. They can only be removed if this Permission is withdrawn. When the Owner or an Authorized User with permission to create and manage Groups removes an Authorized User, that Authorized User loses the ability to view, send, or spend from the Group, but previous actions remain valid. The Permissions that Authorized Users have been granted will determine what they can see and do as an Authorized User in the Group."

4.4 Each Authorized User accepts these Terms when using the Business Group feature.

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5. Our responsibility for loss or damage

5.1 RESPONSIBILITY FOR LOSS OR DAMAGE SHALL BE AS DESCRIBED IN THE CUSTOMER AGREEMENT. IN ADDITION, ANY DISPUTES SHALL BE RESOLVED BY WAY OF BINDING ARBITRATION AS DESCRIBED IN THE CUSTOMER AGREEMENT.

5.2 Disputes between you and an Authorized User relating to your Wise Account or the Services are a matter between you and the Authorized User. You recognise that Wise is not a party to any claim or dispute between you and your Authorized Users. You agree to indemnify, defend, and hold harmless Wise from any dispute that arises out of these Terms, the Additional Documents, or use of the Services between you and an Authorized User.

5.3 Because you are bound by the actions of Authorized Users, it’s very important that you choose Authorized Users carefully. We suggest you regularly reassess who can be an Authorized User and the Permissions granted to them and that you regularly review the activity undertaken by Authorized Users.

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6. General but important terms

6.1 No third party rights. These Terms are between you and us. No other person shall have any rights to enforce any of its terms.

6.2 Severability. Each of the paragraphs of these Terms operates separately. If any court or relevant authority decides that any of them are unlawful or unenforceable, the remaining paragraphs will remain in full force and effect.

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