Customer Agreement (Singapore)

Last updated: Last updated: 05 Oct 2017

Consumer advisory - TransferWise Singapore Pte. Ltd., the provider of the TransferWise Account stored value facility, does not require the approval of the Monetary Authority of Singapore. Consumers (users) are advised to read this Customer Agreement carefully. In addition, TransferWise Singapore Pte. Ltd. is not a bank and therefore the Singapore Deposit Insurance Scheme (SDIC) does not apply.

1. How to read this Customer Agreement

This Customer Agreement contains 28 sections. You may go directly to any section by selecting the appropriate link provided. The headings are for reference only. Some capitalised terms have specific definitions in section 3. Underlined words in this Customer Agreement contain hyperlinks to further information.

2. Why you should read this Customer Agreement

2.1 What this Customer Agreement covers. These are the terms and conditions on which we provide our Services to you.

2.2 Why you should read them. Please read this Customer Agreement carefully before you start to use our Services. This Customer Agreement (always together with the documents referred to in it) tells you who we are, how we will provide the Services to you, how this Customer Agreement 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 Customer Agreement or require any changes, please contact us to discuss.

2.3 Other additional documents which apply to you. This Customer Agreement refers to the following additional documents, which also apply to your use of our Services:

  • (a) 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. By using our Services, you consent to such processing and you promise that all data provided by you is accurate.
  • (b) Our Cookie Policy, which sets out information about the “cookies“ on our Website.
  • (c) Our Acceptable Use Policy, which sets out the permitted uses and prohibited uses of our Services.
  • (d) Our Frequently Asked Questions ("FAQ") which provides answers to common customer questions.
  • (e) In order to receive some of our Services, you may be asked to agree to additional terms and conditions which we will notify you at the relevant time.

2.4 Future changes to this Customer Agreement.. All future changes set out in the Customer Updates section of our Website at the time you sign-up for our Services are incorporated into this Agreement.

2.5 You accept this Customer Agreement. By visiting our Website and/or using our Services (including downloading and using our App, or via a social media platform), you confirm that you accept and agree to this Customer Agreement (including the Customer Updates and the additional documents referred to above). If you do not agree, please do not use our Services.

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

3. Glossary

In this Agreement:
  • App means the mobile application software, the data supplied with the software and the associated media.
  • Balance means any amounts held in your TransferWise Account.
  • Business Day means a day other than a Saturday, Sunday or a public holiday in England when financial institutions in London are open for business.
  • Group Company means any entity that directly or indirectly controls, is controlled by, or is under common control with another entity.
  • Services means all products, services, content, features, technologies or functions offered by us and all related websites, applications (including the App), and services (including the Website).
  • Source Currency means the currency which you hold and/or fund your payment order.
  • Target Currency means the currency which your recipient will receive.
  • TransferWise Account means the Account (at times referred to on our website as a “Borderless Account”) you have opened with us in accordance with the terms of this Customer Agreement.
  • Website means any webpage, including but not limited to www.transferwise.com, where we provide the Services to you.

4. TransferWise App

4.1 App subject to this Agreement and the Appstore Rules. We license the use of the App to you on the basis of this Agreement and subject to any rules and policies applied by any appstore provider or operator whose sites are located at App Store and Google Play ("Appstore Rules"). We do not sell the App to you. We remain the owners of the App at all times.

4.2 App updates. From time to time updates to the App may be issued through App Store or Google Play. Depending on the update, you may not be able to use our Services via the App until you have downloaded the latest version of the App and accepted any new terms.

4.3 Your right to use the App. In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive licence to use the App on your device subject to this Agreement and the Appstore Rules. We reserve all other rights.

5. Who are we and how to contact us

5.1 Our company information. TransferWise Singapore Pte. Ltd. is a company incorporated under the laws of Singapore with Unique Entity Number 201422384R ("TransferWise", "we", "us", or "our" as applicable).

5.2 Our Singapore address. Our registered address is 12 Kallang Avenue, #03-20 Aperia, Singapore 339511.

5.3 We are licensed by the Monetary Authority of Singapore (“MAS”). We are licensed under the Money-Changing and Remittance Business Act (Cap. 187) to carry on a remittance business. Please note that such licensing does NOT guarantee the performance of the remittance licensee and customers take the risk of any loss suffered from the remittance. We are also a holder of a stored value facility, which does not require the approval of the Monetary Authority of Singapore. TransferWise Singapore Pte. Ltd. is not a bank and therefore the Singapore Deposit Insurance Scheme (SDIC) does not apply.

5.4 How to contact us. You can contact us by email, web chat or telephone. Our contact details are provided on the "Contact" page of our Website.

6. Who can use our Services

6.1 You must be 18 years or over. If you are an individual, you must be 18 years or older to use our Services and by opening a TransferWise Account you declare that you are 18 years or older. We may ask you at any time to show proof of your age.

6.2 You must have authority to bind your business. If you are not a consumer, you confirm that you have authority to bind any business or entity on whose behalf you use our Services, and that business or entity accepts these terms.

6.3 Your use of the TransferWise Account must not violate any applicable laws. You may only open a TransferWise account if it is legal to do so in your country of residence. You commit to us that your opening and/or using of a TransferWise Account does not violate any laws applicable to you. You take responsibility for any consequences of your breach of this section.

7. Your TransferWise Account

7.1 About your TransferWise Account

  • (a) Your TransferWise Account allows you to hold, send or receive stored value/payments.
  • (b) The stored value held on your TransferWise Account does not expire other than when your account is closed, see section 19 for more details.
  • (c) The stored value held on your TransferWise Account will not earn any interest.
  • (d) You may hold your stored value in any currencies which we support from time to time.
  • (e) You may withdraw money from your TransferWise Account at any time subject to certain conditions, please see section 16 for more details.
  • (f) Certain limits may be placed on your TransferWise Account depending on your country of residence, verification checks or other legal considerations. Please contact us if you have any questions about these limits.
  • (g) The stored value held on your TransferWise Account belongs to the person or legal entity which is registered as the TransferWise Account holder.
  • (h) Unless you have our consent in writing, you must not allow anyone to operate your TransferWise Account on your behalf.

7.2 Your stored value facility in the TransferWise Account is issued in accordance with the Singapore Payment Systems (Oversight) Act (Cap. 222A) and the Payment Systems (Oversight) Regulations (Rg. 1). For further information on how we look after your money, please visit FAQ. In the event that we become insolvent, you may lose the stored value held in your TransferWise Account.

8. Getting started

8.1 Open a TransferWise Account. To start using our Services, you must open a TransferWise Account and provide your details as prompted. As part of the signup process you will need to accept this Customer Agreement.

8.2 Information must be accurate. All information you provide to us must be complete, accurate and truthful at all times. You must update this information whenever it changes. We can not be responsible for any financial loss arising out of your failure to do so. We may ask you at any time to confirm the accuracy of your information and/or provide additional supporting documents.

8.3 Transacting on your own account. All activities under a TransferWise Account shall be deemed as activities carried out by the registered user. You shall only use the Services to transact on your own account and not on behalf of any other person or entity.

8.4 One account per person or entity. You may only open one TransferWise Account unless we have agreed in writing the opening of additional accounts. TransferWise may refuse the creation of duplicate accounts for the same user. Where duplicate accounts are detected, TransferWise may close or merge these duplicate accounts at its sole discretion.

9. Getting to know you

9.1 We are required by law to carry out all necessary security and customer due diligence checks on you (including any parties involved in your transaction for example, your recipient) in order to provide any Services to you. You agree to comply with any request from us for further information and provide such information in a format acceptable to us. In addition, you agree that we may make, directly or through any third party, any inquiries we consider necessary to validate the information you provided to us, including checking commercial databases or credit reports. You authorise us to obtain one or more of your credit reports, from time to time, to establish, update, or renew your TransferWise Account with us or in the event of a dispute relating to this Customer Agreement and activity under your TransferWise Account.

10. Keep your TransferWise Account safe

10.1 Keep your TransferWise Account safe

Never disclose your TransferWise Account password or your customer reference number (which starts with the letter 'P', followed by a series of numbers) to any third party. Keep them safe. Change your password regularly. We will never ask you to provide your password to us or to a third party. Tell us if anyone asks for your password and contact Customer Support if you are not sure. Follow recommended practices on passwords, for example: https://support.google.com/accounts/answer/32040. You must never let anyone access your TransferWise Account or watch you access it.

If you suspect your TransferWise Account, login details, password or other security feature is stolen, lost, used without authorisation or otherwise compromised, you are advised to change your password. We rely on you to regularly check the transactions history of your TransferWise Account. Contact Customer Support immediately in case of any unauthorised, incorrect, or misdirected transaction, or if you suspect that your TransferWise Account has been compromised. Any undue delay in notifying us may not only affect the security of your TransferWise Account but may result in you being responsible for financial losses.

We may suspend your TransferWise Account or otherwise restrict its functionality if we have concerns about:

  1. the security of the TransferWise Account or any of its security features; or
  2. unauthorised or fraudulent use of your TransferWise Account or any of its security features.

We will notify you of any suspension or restriction of your TransferWise Account and of the reasons for such suspension or restriction as soon as we can, unless notifying you would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.

You must make sure that your email account(s) are secure and only accessed by you, as your email address may be used to reset passwords or to communicate with you about the security of your TransferWise Account. Let Customer Support know immediately if your email address becomes compromised.

Never use any functionality that allows login details or passwords to be stored by the computer or browser you are using or to be cached or otherwise recorded.

Additional TransferWise products or services you use may have additional security requirements and you must familiarise yourself with those as notified to you.

11. Uploading money into your TransferWise Account

11.1 How to upload money into your TransferWise Account. To upload money, you need to login into your TransferWise Account and follow the steps as they appear on screen. We are not responsible for the money you have uploaded until we have received them. For clarity, in an upload transaction, we are the recipient of funds and not the payment services provider.

11.2 Payin Methods. You may be presented with one or more methods of upload for example, bank transfer, credit cards or debit cards (in this Customer Agreement, we will call these methods “Payin Methods”). The number of Payin Methods made available to you will depend on a number of factors including the currencies selected, where you live and your verification status with us. Payin methods are not part of our Services, they are services provided by third parties for example, the card provider which issued you with your credit/debit card. We cannot guarantee the use of any particular Payin Method and may change or stop offering a Payin Method at any time without notice to you.

11.3 Payment instrument must be in your name. Any payment instrument (for example, the credit card or debit card) you use with your chosen Payin Method must be in your name.

11.4 Chargebacks on your payment instrument. If you selected a Payin Method which gives you chargeback rights (for example in relation to your credit card, you may ask your card provider to reverse a transaction on your card), you promise that you will only exercise this chargeback right if:

  • (a) we have breached this Customer Agreement; or
  • (b) there was an unauthorised use of your payment instrument.

You promise that you will not exercise your chargeback right for reasons which we are not responsible, including a dispute with your recipient or there is insufficient funds in your payment instrument. If we need to investigate or take any actions in connection with a chargeback raised by you, we may charge you for our costs in doing so and may deduct such amount from your TransferWise Account.

11.5 Upload limits on your TransferWise Account. For legal and security reasons, we impose limits on how much you can upload into your TransferWise Account.

11.6 When we will credit your TransferWise Account. We will credit your TransferWise Account once we have received your money. For some Payin Methods such as credit or debit card, we will credit the money to your TransferWise Account as soon as possible subject to our right of reversal. This means if the actual amount you intended to upload do not reach us within a reasonable time, we may deduct such amount from your TransferWise Account. If you do not have enough money in your TransferWise Account for this purpose, we can demand repayment from you using other methods.

12. Sending money

12.1 Setting up your payment order. You must set up your payment order from your TransferWise Account. Your order may either be:

  • (a) a "Fixed Source Order" which is a payment order where you indicate that you wish to send and convert a fixed amount of Source Currency to your recipient whom will receive the converted amount in the Target Currency; or
  • (b) a "Fixed Target Order" which is a transfer where you indicate that you wish to send and convert a fixed amount of Target Currency to your recipient from the Source Currency you pay into TransferWise.

You can only set up a Fixed Target Order for certain Source Currencies, you can find a list of these Source Currencies on our FAQ.

12.2 Information you need to provide to set up a payment order. To set up a payment order via your TransferWise Account, you need to provide certain information to us including (a) the full name of your recipient, (b) your recipient’s bank account details or their TransferWise Account details and (c) amount to be transferred.

12.3 Payment order limits. Your payment order must not exceed SGD 1,900,000 or other currency equivalent. For more information on the applicable limits, please visit our FAQ.

12.4 When is your payment order received. If your payment order is received by us after 5pm on a Business Day or not on a Business Day, your payment order will be deemed received on the following Business Day.

12.5 What happens after you have submitted your payment order. Once we have received your payment order, we will send you a confirmation by email. Each payment order is given a unique transfer number and is shown in the transaction history on your TransferWise Account. You should quote this transfer number when communicating with us about a particular payment order.

12.6 You need to provide us with sufficient funds before we can process your payment order. We will only process your payment order if we hold or have received sufficient cleared funds in your TransferWise Account. It is your responsibility to fund your payment order in a timely manner. We can not be responsible for the time it takes for the money to be sent to us by your bank or payment service provider.

12.7 Verification checks may increase the time for processing your payment order. We carry out verification checks, and these checks may increase the time it takes to process your payment order. We cannot be responsible for any delays as a result of carrying out those checks.

12.8 Completion time of your payment order. The estimated completion time of your payment order is notified to you when you complete the setup of your payment order. You may also find further information about the completion time in the FAQ section of our Website, please refer to the applicable currencies in your payment order.

12.9 We will use reasonable efforts to ensure funds arrive at your recipient’s account within the notified timeframe. We will use reasonable efforts to ensure that the funds arrive in the recipient’s bank account or payment account within the timelines notified to your or otherwise specified in our FAQ section. We do not have any control over the time it may take for the recipient’s bank or payment provider to credit and make available funds to the recipient.

12.10 Refusal of your payment order. If we are unable to complete your payment order, we will let you know and, if possible, the reasons for the refusal and an explanation on how to correct any factual errors. However, we are not required to notify you if such notification would be unlawful.

12.11 You may cancel your payment order before your funds are converted. You may cancel your payment order by following the instructions set out in our FAQ. You cannot cancel your payment order once your funds have been converted into the Target Currency you requested.

12.12 You must ensure the information you provide to us is correct. You must make sure that the information you provide when setting up a payment order is accurate. If we have processed your order in accordance with the information you have provided to us it will be considered correctly completed even if you have made a mistake.

12.13 What happens if you provide us with incorrect information. If you provide incorrect information with your payment order, we will use reasonable efforts to recover the funds for you, and may need to charge you a fee for that.

13. Exchange Rates

13.1 The applicable exchange rate. We will let you know the exchange rate:

  1. when you place your payment order, if it is a guaranteed rate payment order; or
  2. when we have converted your Source Currency into the Target Currency, if it is a non-guaranteed rate payment order.

13.2 Exchange rate = mid-market exchange rate. When we refer to an exchange rate in this Customer Agreement, it means the mid-market exchange rate at the relevant time for the relevant currency pair (for example, GBP to EUR, USD to AUD) as provided by our reference rate provider, Reuters. We may change our reference rate provider from time to time without notice to you.

13.3 Guaranteed rates. We offer automatic guarantee rates on certain payment orders. These are described on the Pricing Page.

13.4 Additional conditions for guaranteed rates

  • (a) We will let you know the guaranteed rate at the time when you set up your payment order. As long as we hold or receive sufficient money from you in your TransferWise Account during the relevant Guaranteed Period (set out in Table 1), we will convert your money using that guaranteed rate.
  • (b) If we do not receive sufficient money from you during the Guaranteed Period, we will not be able to convert your money using the guaranteed rate. The rate used for your payment order will be the rate at the time of conversion.
  • (c) If the relevant mid-market rate (as provided by our reference exchange rate provider) changes by 5% or more during the Guaranteed Period, we can, at our option, suspend your payment for a reasonable period of time or cancel the payment order and refund the money to you.
  • (d) Please note that we are not a currency trading platform, accordingly, you should not use our Services for this purpose (including sending us multiple guaranteed rate payment orders without the intention of completing all the payment orders). If we detect that you are using our Services for this purpose, we may, at our option, set a limit on the number of guaranteed payment orders you may send to us or suspend or terminate your TransferWise Account.

13.5 Non-guaranteed rates

  • (a) If we do not offer a guaranteed rate for your payment order, we will use the mid-market exchange rate at the time we convert your money. We will let you know of the exchange rate used once we have converted your money.
  • (b) A rate limit is the maximum percentage of negative change to the exchange rate which you authorise us to convert your money.
  • (c) For non-guaranteed rate payment orders, we will automatically apply a 3% rate limit (other than if your Source Currency is Brazilian Real, in which case we do not apply any rate limit). If the exchange rate reaches or exceeds this rate limit, we will not convert your money until the rate has moved back within the rate limit. Of course, this will delay the completion of your payment order. If your payment order is delayed by 5 Business Days or more for this reason, your payment order will be cancelled and your money will be refunded to you.
  • (d) You may change the rate limit on your payment order, for more information on how to do this, please refer to our FAQ.

14. Receiving money

14.1 You can receive money into your TransferWise Account. You can receive money into your TransferWise Account using methods which we support from time to time.

14.2 The money received is shown in your TransferWise Account. Any money you receive into your TransferWise Account will be recorded in the transaction history section of your TransferWise Account. You should check the incoming funds in your TransferWise Account against your own records regularly and let us know if there are any irregularities.

14.3 The money received may be subject to reversal. You acknowledge that the money received in your TransferWise Account ("Received Amount") may be subject to reversal and you agree that we may deduct the Received Amount from your TransferWise Account if it was reversed by the person who paid you the Received Amount or any relevant payment services provider.

14.4 Sending money using an email address. If you send money to a person using an email address which is not registered with us, the money will not be credited until the intended recipient has claimed the money following the steps we have set out for them. Until then, there is no relationship between us and the intended recipient and the money continues to belong to you. We will refund the money to you if the intended recipient does not claim the money or if they have failed our customer checks within a reasonable time period as determined by us.

15. Maintaining your TransferWise Account

15.1 Transaction history is displayed on your TransferWise Account. All your transactions (including your current balance, money you have uploaded, received, sent and/or withdrawn) are recorded in the transaction history section of your TransferWise Account. You may access this information after you login into your TransferWise Account. We have allocated a reference number to each transaction, you should quote this reference number when communicating with us about a particular transaction.

15.2 Check your TransferWise Account regularly. You must check your TransferWise Account regularly and carefully and contact us immediately if you don’t recognise a transaction or think we have made a payment incorrectly. You must tell us about any unauthorised or incorrectly executed transactions immediately to have any errors corrected.

15.3 You accept the risks of holding balances in multiple currencies. You agree and accept all the risks associated with maintaining balances in multiple currencies including any risks associated with fluctuations in the relevant exchange rates over time. You agree that you will not use our Services for speculative trading.

15.4 No negative balance in your TransferWise Account. You agree to always have a zero or positive Balance in your TransferWise Account. If your TransferWise Account goes into a negative balance as a result of a chargeback, reversal of a transaction, deduction of fees or any other action carried by you, you promise to repay the negative balance immediately without any notice from us. We may send you reminders or take such other reasonable actions to recover the negative balance from you, for example, we may use a debt collection service or take further legal actions. We will charge you for any costs we may incur as a result of these additional collection efforts.

15.5 Taxes. You are responsible for any taxes which may be applicable to payments you make or receive, and it is your responsibility to collect, report and pay the correct tax to the appropriate tax authority.

16. Withdrawing from your TransferWise Account

16.1 You can request to withdraw your money. After you log into your TransferWise Account, you may request all or part of your money held in your TransferWise Account to be withdrawn. Press "send money" and follow the steps as prompted on screen. We will charge you a fee for each withdrawal request, we will let you know the exact amount when you submit your request. You can also find out more information about the fees we charge on the Pricing Page.

16.2 Payout Methods available to you. You may be presented with one or more methods of withdrawal (in this Customer Agreement, we will call these methods "Payout Methods"). The number of Payout 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 use of any particular Payout Method and may change or stop offering a Payout Method at any time without notice to you, but we will ensure that you will always have at least one Payout Method available to you.

16.3 Payout Methods are not part of our Services. Payout Methods are not part of our Services, they are services provided by third parties for example the bank where you hold your bank account. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.

16.4 You must provide correct information to us. When setting up your withdrawal request, you must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful.

16.5 Your withdrawal request is subject to limits. Your agree that TransferWise Account is subject to withdrawal limits. If your withdrawal request exceeds the current limit, we may decline your request and require you provide additional documents to us so that we could carry out additional checks before allowing the money to be withdrawn.

17. How much will you pay?

17.1 You must pay our fees. You must pay the fees in connection with the use of our Services. We will not process your transaction until we have received the fees from you.

17.2 You can see our fee structure on the Pricing page. We will let you know the exact amount payable by you when you set up your order. You can see our fee structure on the Pricing Page. For clarity, the fees applicable to you as set out on the Pricing Page forms part of this Customer Agreement which may be subject to change as set out in section 26.

17.3 We can make deductions from your TransferWise Account. You agree that we are authorised to deduct our fees, any applicable reversal amounts, and/or any amounts you owe us from your TransferWise Account. If you don’t have enough money in your TransferWise Account to cover these amounts, we may refuse to execute the relevant transaction or provide any Services to you.

18. Currency Conversion

18.1 You may convert the money held in one currency in your TransferWise Account into other currencies we support from time to time. You can only perform a conversion in respect of funds that you already hold in your TransferWise Account. A conversion fee will apply when we performs a currency conversion, for more information, please refer to the Pricing Page.

19. Closing your TransferWise Account

19.1 You may close your TransferWise Account at any time. You may end this Customer Agreement and close your TransferWise Account at any time by contacting our Customer Support.

19.2 You should withdraw your money within a reasonable time. At the time of closure, if you still have money in your TransferWise Account, you must withdraw your money within a reasonable period of time by following the steps described in section 16. After a reasonable period of time, you will no longer have access to your TransferWise Account, but you can still withdraw your money by contacting Customer Support. You have the right to do this for a period of 6 years from the date your TransferWise Account is closed.

19.3 You must not close your TransferWise Account to avoid an investigation. You must not close your TransferWise Account to avoid an investigation. If you attempt to close your TransferWise Account during an investigation, we may hold your money until the investigation is fully completed in order to protect our or a third party’s interest.

19.4 You are responsible for your TransferWise Account after closure. You agree that you will continue to be responsible for all obligations related to your TransferWise Account even after it is closed.

20. Intellectual property rights

20.1 While you are using our Services, you may use the TransferWise Materials only for your personal use and solely as necessary in relation to those Services.

20.2 "TransferWise Materials" includes any software (including without limitation developer tools, sample source code, and code libraries), data, materials, content and printed and electronic documentation (including any specifications and integration guides) developed and provided by us or our affiliates to you for download from our Website. You may not, and may not attempt to, directly or indirectly:

  1. transfer, sublicense, loan, sell, assign, lease, rent, distribute or grant rights in the Service or the TransferWise Materials to any person or entity;
  2. remove, obscure, or alter any notice of any of our trade marks, or other "intellectual property" appearing on or contained within the Services or on any TransferWise Materials;
  3. modify, copy, tamper with or otherwise create derivative works of any software included in the TransferWise Materials; or
  4. reverse engineer, disassemble, or decompile the TransferWise Materials or the Services or apply any other process or procedure to derive the source code of any software included in the TransferWise Materials or as part of the Services.

21. Our responsibility for loss or damage by you

OTHER THAN EXPRESSLY SET OUT IN THIS AGREEMENT, NEITHER TRANSFERWISE NOR OUR OFFICERS, DIRECTORS, EMPLOYEES, SUPPLIERS, AGENTS, AND RELATED ENTITIES MAKE ANY SPECIFIC PROMISES ABOUT OUR SERVICES. FOR EXAMPLE, WE DON'T MAKE ANY COMMITMENTS ABOUT THE CONTENT WITHIN THE SERVICES, THE SPECIFIC FUNCTIONS OF THE SERVICES, OR THEIR RELIABILITY, AVAILABILITY, OR ABILITY TO MEET YOUR NEEDS. WE PROVIDE THE SERVICES "AS IS".

SOME JURISDICTIONS PROVIDE FOR CERTAIN WARRANTIES, LIKE THE IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. TO THE FULLEST EXTENT PERMITTED BY LAW, WE EXCLUDE ALL WARRANTIES.

To the fullest extent permitted by law (and without limiting any other provision in this Customer Agreement), 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.

Without limiting the above, in the event that you or your employees, officers or agents are on our premises (or those of our authorised agent), we shall, to the fullest extent permitted by applicable law, not be liable for any loss or damage (including death, personal injury or damage to property) arising from or in connection with being on such premises.

We do not exclude or limit in any way our liability to you where it would be unlawful to do so, for example, for death or personal injury resulting from our negligence, or for fraud or fraudulent misrepresentation.

We only provide our Services to you for your personal and private use. If you use our Services 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.

We will not be liable for any loss or damage caused by a bug or virus, or other technological attacks or harmful material that may infect your computer equipment, computer programs, data or other proprietary material, related to your use of our Services.

We have no control over websites linked to and from our Website and so we assume no responsibility for their content or any loss or damage that may arise from your use of them.

We (and our officers, directors, employees, suppliers, agents and related entities) cannot be liable for any failure to perform, or delay in performing, any of our obligations as a result of events which are outside our control. An event which is outside our control refers to any act or event beyond our reasonable control, including, but without limitation to, strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks or impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport.

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 Agreement or any applicable law or regulation, your use of our Services and/or any fraud by you. This provision shall continue to be in force even after you cease using our Services.

22. Accessing our services

We will try to make sure our Services are available to you when you need them. However, we do not guarantee that our Services will always be available or be uninterrupted. We may suspend, withdraw, discontinue or change all or any part of our Service without notice. We will not be liable to you if for any reason our Services are unavailable at any time or for any period. You are responsible for making all arrangements necessary for you to have access to our Services.

23. Information security

23.1 We do not guarantee that our Website will be free from bugs or viruses.

23.2 You are responsible for configuring your information technology, computer programmes and platform in order to access our Services. You should use your own virus protection software.

23.3 You must not misuse our Services by introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to our Website, or our servers, computers or databases. You must not attack our Website via a denial-of-service attack or a distributed denial-of-service attack. By breaching this provision, you may be guilty of a criminal offence under the Computer Misuse and Cybersecurity Act (Cap. 50A). We will report any such breach to the relevant government authorities, public agencies, and/or law enforcement agencies and co-operate with such authorities/agencies by disclosing your identity to them. In the event of such a breach, your right to use our Services will cease immediately.

24. Linking to our site

24.1 You may link to our Website provided you follow certain rules. You may link to our Website, provided:

  • (a) you do so in a way that is fair and legal and does not damage our reputation or take advantage of it;
  • (b) you do not suggest any form of association, approval or endorsement on our part where none exists;
  • (c) you do not frame our Website on any other site; and
  • (d) the website complies our Acceptable Use Policy.

We reserve the right to withdraw linking permission without notice.

25. When we can end this Customer Agreement or suspend our Services

25.1 We may, at any time, terminate your TransferWise Account or any service associated with it without giving any prior notice or reason for doing so. You may terminate your TransferWise Account with us at any time by contacting Customer Support.

We may at any time suspend or terminate your TransferWise Account without notice if:

  1. you breach any provision of this Agreement or documents referred to in this Agreement;
  2. we have reason to believe you are in violation of any applicable law or regulation;
  3. we are requested or directed to do so by any competent court of law, government authority, public agency, or law enforcement agency; or
  4. we have reason to believe you are involved in any fraudulent activity, money laundering, terrorism financing or other criminal and/or illegal activity.

We may suspend your TransferWise Account at any time if:

  1. we believe that your TransferWise Account has been compromised or for other security reasons; or
  2. we suspect your TransferWise Account has been used or is being used without your authorisation or fraudulently, and
  3. we will let you know as soon as we can if we need to suspend your TransferWise Account, unless notifying you would be unlawful or compromise our reasonable security interests.

25.2 You can not use the App if this Customer Agreement ends. On termination for any reason all rights granted to you in connection with the App shall cease, you must immediately delete or remove the App from your devices.

26. Our right to make changes

26.1 We may change this Customer Agreement at any time by posting a revised version on this page. The revised version will be effective once it is posted. Where appropriate, we may notify you of any changes to this Customer Agreement by email. Please check back frequently to see if there are any updates or changes to this Customer Agreement, as it is legally binding on you. If you do not agree to the revised terms in this Customer Agreement, you should terminate your TransferWise Account and discontinue your use of our Services.

26.2 This Customer Agreement may not be amended in any other way.

27. Communication and Complaints

27.1 We usually contact you via email. For this purpose, you must at all times maintain at least one valid email address in your TransferWise Account profile. You are required to check for incoming messages regularly and frequently. Emails may contain links to further communication on our Website. Any communications or notices sent by email will be deemed received by you on the same day if it is received in your email inbox before 5pm on a Business Day. If it is received in your email inbox after 5pm on a Business Day or not on a Business Day, it will be deemed received on the next Business Day.

27.2 In addition to communicating via email, we may contact you via letter or telephone where appropriate. If you use any mobile services, we may also communicate with you via SMS. Any communications or notices sent by post will be deemed received three (3) days from the date of posting for Singapore post or within five (5) days of posting for international post. Any communications or notices sent by SMS will be deemed received the same day.

27.3 Where legislation requires us to provide information to you on a durable medium, we will either send you an email (with or without attachment) or send you a notification pointing you to information on our website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference. Do keep copies of all communications we send or make available to you. If you need a copy of the current Agreement or any other relevant document, please contact Customer Support. You may contact us via email, letter or telephone by using the details specified in the "Contact" section of our Website.

27.4 This Agreement is made in the English language. Documents or communications in any other languages are for your convenience and only the English language versions of them are official.

27.5 Complaints. If you have any complaints about us or our Services, you may contact us in accordance with our customer complaint procedure.

28. Other important terms

28.1 This Customer Agreement is between you and us. No other person shall have any rights to enforce any of its terms.

28.2 You may only transfer your rights or your obligations under this Customer Agreement to another person if we agree to this in writing.

28.3 This Customer Agreement constitutes the entire agreement between you and TransferWise, and supersedes all previous agreements, promises, arrangements and understandings between us relating to its subject matter.

28.4 Each provision in this Customer Agreement operates separately. If any court of competent jurisdiction decides that any of them are invalid or unenforceable, such invalidity or unenforceability shall not affect the remaining provisions of this Customer Agreement, all of which will remain in full force and effect.

28.5 If we delay or fail to exercise any right or remedy provided by law or under this Customer Agreement, this will not prevent us from exercising such right or remedy against you at a later date.

28.6 Which laws apply to this Customer Agreement and where you may bring legal proceedings. This Customer Agreement, and any dispute or claim arising out of or in connection with it and/or your TransferWise Account, or its subject matter or formation (including non-contractual disputes or claims) shall be governed by Singapore law. Any dispute or claim between you and us arising out of or in connection with this Customer Agreement and/or your TransferWise Account may be brought in the courts of Singapore.