TransferWise Card Supplement to the Customer Agreement

Last updated: 2 August 2019

1. How to read this Supplement

The terms set out in your Customer Agreement apply to your use of the Card. This Supplement is a supplement to, and must be read together with, your Customer Agreement, which sets out the terms in relation to your TransferWise Account. This Supplement contains 11 sections. You may go directly to any section by selecting the link provided. The headings are for reference only. Some capitalised terms have specific definitions in section 3, or are defined in your Customer Agreement. Underlined words in this Supplement contain hyperlinks to further information.

Consumer advisory: TransferWise Australia Pty Ltd ACN 616 463 855 (“TransferWise”, “we”, “us”, or “our” as applicable) is an authorised representative of TransferWise Limited ARBN 168 331 191, the holder of Australian Financial Services Licence 456295, under which we provide certain financial services in connection with the Card. TransferWise is not a bank or authorised deposit taking institution, and the Australian Financial Claims Scheme does not apply.

2. Why you should read this Supplement

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

2.2 You agree to the supplement. Please read this Supplement carefully before you start using the Card. Please do not apply for or continue using the Card if you do not agree to the Supplement. This Supplement (always together with the documents referred to in it) tell 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.

By applying for, or using, your Card, you confirm that you accept and agree to this Supplement (including any amendments and additions to this Supplement at the time you apply as published at the Customer Updates section of our Website). By your continued use of the Card, you accept and agree to any future changes to the Supplement (also as published at the Customer Updates section of our Website), whether or not reviewed by you, and which shall constitute your consent and acceptance of the revised Supplement.

If you think that there is a mistake in this Supplement or require any changes, please contact us to discuss.

2.3 Changes to the Supplement. We reserve the right to enhance, modify or cancel any features and benefits of the Card, and to change the Supplement, without prior notice. All future changes will be published from time to time at the Customer Updates section of our Website.

2.4 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.

3. Glossary

In this Supplement:

Card – means your TransferWise Card (including any replacement card as applicable) with the features set out in section 4.2.

4. About your Card

4.1 Who is the issuer of your Card. Your Card is issued by TransferWise Australia Pty Ltd ACN 616 463 855, an Australian registered company.

4.2 A summary of the key product features and information about your Card is set out here. The Card is for use in conjunction with a TransferWise Account, please refer to the Customer Agreement and the Product Disclosure Statement. If your TransferWise Account is a business account, you may only use your Card for business purposes and not personal purposes.

5. Access the Card

5.1 How to access the Card. Your Card is linked to and supported by your TransferWise Account. You can access money by adding money to your TransferWise Account. For further information on how to do this, please refer to the Customer Agreement.

5.2 Verification and authorisation Only customers we have verified will be able to use the Card and anonymous users are not permitted. You agree that we may verify and authorise your information and transactions at account opening and on an ongoing basis to meet relevant regulatory requirements. TransferWise is required to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

6. Use of the Card

6.1 About your Card. The Card is a non-cash payment facility which can be used to pay for goods and services online, over the phone or in person. The Card can be used to withdraw money from ATMs locally and internationally which accept Mastercard. The Card is not a guarantee card, charge card or credit card.

6.2 How to activate your Card. When you receive your Card, please sign the back of it as soon as you receive it and keep it safe. You must activate your Card before use, by following the instructions in the App or on our Website. The Card PIN is a 4-digit code that you will be asked to enter when making a payment using the Card.

6.3 Paying in different currencies. The TransferWise Account associated with your Card may be used by you to hold balances in different currencies that we support for use with the Card (see FAQ). If you are making a payment or withdrawing funds in a currency you hold, the payment will be made from that balance. If you are making a payment or withdrawal in a currency you do not hold in your TransferWise Account, we will convert the amount applying the TransferWise rate and fee to a balance that you hold. If you are making a payment or withdrawal in a currency we do not support, we will convert the amount at the current Mastercard rate.

6.4 Refunds in different currencies. If you receive a refund on a card payment in a supported currency, we will credit your Transferwise Account in that currency. If you receive a refund in a currency we do not support (see FAQ), we will first convert the amount at the current Mastercard rate to a supported currency and then credit your TransferWise Account. We may need to activate a currency in your TransferWise Account in order to credit you the refund.

6.5 No negative balance in your TransferWise Account. You must not make purchases that exceed the amount of electronic money available in your TransferWise Account. If any purchase takes you over your available funds or the card limits in force from time to time the transaction will be declined.

6.6 Your use of the Card is subject to limits. We may, at our reasonable discretion, decline the use of your Card for situations including, but not limited to:

  1. pre-authorised regular payments;
  2. transactions at self-service petrol pumps;
  3. transactions for cash (other than ATM withdrawal) including for example cash back, cash from a bank, money orders, traveller’s cheques, foreign exchange, or bureau de change, or any illegal purposes;
  4. where it is not possible for the supplier of the good or service to obtain online authorisation that you have sufficient Balance for the transaction. For example: transactions on trains, ships, and some in-flight purchases.

6.7 Applicable Fees and Charges. For local and international ATM withdrawals, subject to the law, applicable ATM and/or withdrawal charges may apply.

7. Authorisation of Transactions

7.1 You authorise every Transaction. You agree that any use of your Card or card number and PIN constitutes your authorisation and consent to a transaction, including for the avoidance of doubt, any contactless or card-not-present (e.g. any online purchases) transactions which may not require a PIN.

7.2 Your Card is for your sole personal use. You undertake not to authorise others to use your identity or user status, and you may not assign or otherwise transfer your Card to any other person or entity.

8. When your Card expires

8.1 Your Card has an expiry date. The Card’s expiry date is printed on the card. You must not use the card after its expiry.

8.2 If you have used your Card in the two weeks before it expires, we will contact you to inform you that we will automatically transfer the outstanding Balance to a new card. The new Card will be issued to you free of charge and sent to you at the address you have given us within two weeks after it expires. If you do not want your Card to be renewed, you must close your Card in the App or by logging into your TransferWise Account.

8.3 If your Card has not been used in the eight weeks prior to its expiry, we will send you an email asking if you want to replace the Card. If you ask us to do this, we will issue you with a replacement Card within two weeks. A replacement card fee may apply (see here).

8.4 If you request that your Card is not renewed under section 8.2, or if you do not request a replacement under section 8.3, your Card will be deactivated and you will not be able to use it after its expiry. You may redeem any outstanding balance in your TransferWise Account in accordance with the terms of the Customer Agreement.

9. Keep Your Card Safe

9.1 Keep your Card safe. Never let another party use your Card, and keep it safe. Memorise your PIN and never disclose this and other security information to anyone.

9.2 Keep your TransferWise Account safe. You should also observe the security measures as set out in section 10 of the Customer Agreement with regard to your TransferWise Account.

9.3 Check your transaction history regularly. We rely on you to regularly check on your TransferWise Account history and contact us in the case of unauthorised, incorrect, or misdirected transactions.

9.4 Report any suspicious incidents and lost or stolen Cards. If your Card is lost or stolen, if you suspect that someone else knows your PIN, or if you think your Card, card number or PIN may be misused, you agree that you must stop using the Card and contact Customer Support immediately. If you find the Card after you have reported it lost, stolen or misused, you must cut it up and tell us as soon as possible.

9.5 Replacement of card. If your Card, or any replacement card, is lost or stolen, you can request a replacement. We will charge a fee for the replacement Card. The details for the relevant replacement can be found here.

9.6 Disclosure of information to law enforcement authorities. If your Card is used without your permission, or is lost, stolen or if you suspect the Card may be misused, we may disclose to law enforcement agencies any information which we reasonably believe may be relevant.

10. Ending or Suspension of Card services

10.1 Termination of services. We may, at any time, terminate your Card or any service associated with it without giving you any prior notice or reason for doing so. You may terminate your Card with us at any time by contacting Customer Support.

In particular, we may at any time suspend or terminate your Card without notice if:

  1. you breach any provision of this Supplement;
  2. customer verification processes are incomplete or you decline to provide relevant information or documents for account or transaction verification purpose;
  3. we have reason to believe you are in violation of any applicable law or regulation;
  4. we are requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency; or
  5. we have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal and/or illegal activity.

10.2 Suspension or termination of transactions. We have the right to suspend, or later reverse, the processing of any transaction where we reasonably believe that the transaction may be unauthorised, fraudulent, illegal, or involves any criminal activity or where we believe you to be in breach of this Supplement or the Customer Agreement.

10.3 Termination upon occurrence of specific events. You agree that we have the right to terminate your Card and our agreement under this Supplement immediately in the event that you are:

  1. declared bankrupt, insolvent or enter into liquidation or such other scheme of arrangement or administration;
  2. found in default of your debt obligations to an authorised deposit taking institution under Australian laws; or
  3. deceased.

In the event of any of the above, we reserve the right to deal with any such trustee, executive or personal representative duly appointed in respect of your estate (where appropriate) under Australian or other applicable law, as we consider appropriate, in relation to the balance in your TransferWise Account.

11. Important notes

11.1 No warranty for services. Other than expressly set out in this Supplement or in the Customer Agreement, neither TransferWise, nor our officers, directors, employees, suppliers, agents and relevant entities make any specific promises about our services. For example, we do not make any commitments about the quality, safety, legality, or any other aspect of any goods or services purchased with the Card. We are also not liable for any loss arising from any merchant refusing to accept your Card, or any ATM failing to dispense cash.

To the extent possible, we will try to make sure that you will be able to use the Card when needed, but we do not guarantee that the services will always be available or uninterrupted. We may suspend, withdraw, discontinue the use of your Card or any part of our other services without notice. We will not be liable to you if for any reason the Card is unable to be used for you at any time or for any period.

The Card and our services are provided to you strictly on an “as is” basis. All conditions, representations and warranties, whether express, implied, statutory for other, including without limitation, any implied warranty of merchantability, fitness for a particular purpose, or non-infringement of third party rights, are here excluded and disclaimed to the highest and maximum extent subject to any applicable contrary law, including provisions of the Australian Securities and Investments Commission Act 2001 (Cth) ("ASIC Act") and Competition and Consumer Act 2010 (Cth) ("Consumer Act").

11.2 No liability for loss or damage. We, and our related entities, exclude all liability to you or anyone else for any loss or damage of any kind (howsoever caused or arising) arising from or in connection with the Services to the fullest extent permitted by law (and without limiting any other provision in this Supplement), subject to any applicable contrary law, including provisions of the ASIC Act and the Consumer Act.

11.3 Services provided only for personal use. The Card can only be used for your personal and private use. If you use the Card for any commercial or business purpose, we will not be liable to you for any loss of profit, loss of business, business interruption, loss of business opportunity, or consequential loss.

11.4 Hold harmless. To the fullest extent permitted by applicable law, you shall be responsible and hold us (and our officers, directors, employees, suppliers, agents and related entities) harmless from any and all loss, damage, liabilities, claims, costs and expenses due to, or arising out of or in connection with, your breach of this Supplement or any applicable law or regulation, your use of the Card and/or any fraud by you. This provision shall continue to be in force even after you cease using the Card.

11.5 Liability for transactions on a Card reported lost or stolen. You remain liable for any withdrawal or purchase made by any other person using your Card, Card number or PIN before you notify us of the loss or theft under section 9.4. Despite notifying us of an event under section 9.4, you remain liable for any withdrawal or purchase made by you. Where requested, you must also give us all the information you have about how the loss occurred.