What Wise's terms say
Wise's terms of service and privacy policy have 30 rated points: 0 serious, 8 bad, 15 worth knowing and 7 good. 19 apply whenever you use the site, signed in or not; 11 only once you have an account.
Whenever you use Wise
Bad 5
Your data may be processed and stored anywhere in the world
[EU] Your data may be processed and stored anywhere in the world
Where it says this ↗Your biometric data is collected
[UK] Your biometric data is collected
Because of the multiple Terms of Services (USA, UK, EEA), data gathered may have variations. For this point, this is for the United Kingdom.
Where it says this ↗Instead of asking directly, this Service will assume your consent to changes of terms merely from your usage
[US] Instead of asking directly, this Service will assume your consent merely from your usage.
Note: This is from the Terms of Service for the USA.
Where it says this ↗Certain features may be throttled
Your use is throttled
Kind of a shot in the dark, to be fair, because this doesn't relate to the usage of the service itself.
Where it says this ↗Many third parties are involved in operating the service
List of third parties identified: CloudFlare, New Relic, Veriff, MixPanel, DoubleClick, Google Analytics, HotJar, Informizely, Facebook, Onclusive, Google Ads, Microsoft, Twitter, Yahoo, Snap, LinkedIn, Prospect Point Media, Beeswax, Podsights, Amazon Ads, Quora Ads, Google AdWords, YouTube Integrations, Google Pay, Facebook Integrations, Authy (Twilio).
Where it says this ↗
Worth knowing 8
The court of law governing the terms is in location X
[EU] The court of law governing the terms is in Belgium
Where it says this ↗There is a date of the last update of the agreements
All legal documents have a date on the last update of the agreements.
Where it says this ↗You agree to defend, indemnify, and hold the service harmless in case of a claim related to your use of the service
[US] You agree to defend, indemnify, and hold the service harmless in case of a claim related to your use of the service
Where it says this ↗The service can stop being provided at any time
They may stop providing the service at any time
Where it says this ↗This service does not guarantee that it or the products obtained through it meet your expectations or requirements
Where it says this ↗The service assumes no liability for any damages the user incurs
[US] This service assumes no liability for any losses or damages resulting from any matter relating to the service
Where it says this ↗You are prohibited from attempting to gain unauthorized access to other computer systems
[EU] You are prohibited from attempting to gain unauthorized access to other computer systems
Where it says this ↗No guarantee is made reguarding the accuracy and/or reliability of the information provided
The service does not guarantee accuracy or reliability of the information provided
Created by Docbot version v3
Where it says this ↗
Good 6
Information is provided about what kind of personal information is collected
[EU] Details are provided about what kind of information they collect
Where it says this ↗Information is provided about how your personal data is collected
[EU] Information is provided about how they collect personal data
Where it says this ↗The service claims to be CCPA compliant for California users
[US] The service claims to be CCPA compliant for California users
Where it says this ↗When the service wants to make a material change to its terms, you are notified at least 30 days in advance
[US] When the service wants to make a material change to its terms, you are notified at least 30 days in advance
Where it says this ↗A list of all cookies used by the service is provided
A list of all cookies set by the website is provided
Where it says this ↗The service claims to be GDPR compliant for European users
[EU] The service claims to be GDPR compliant for European users
Where it says this ↗
If you have a Wise account
Bad 3
You must provide your identifiable information
[UK] You must provide your identifiable information
Where it says this ↗Your account can be deleted or permanently suspended without prior notice and without a reason
[US] Your account can be deleted upon notice and without a reason
Where it says this ↗Your provided identifiable information is actively checked by the service
[US] Your provided identifiable information is actively checked by the service
Where it says this ↗
Worth knowing 7
You must create an account to use this service
Where it says this ↗This service is only available to users over a certain age
Where it says this ↗You are responsible for maintaining the security of your account and for the activities on your account
Where it says this ↗Your account can be suspended for several reasons
Where it says this ↗Alternative accounts are not allowed
"unless we explicitly approve the opening of additional accounts. We may refuse the creation of duplicate accounts for the same user." Not sure what to make of this line, but it sounds like, if you ask them that you need an alternate account and give a good reason, they might go through with it? But then there's the "may refuse" part, which sounds like they may let you make an alternate account.
Where it says this ↗You must report to the service any unauthorized use of your account or any breach of security
Where it says this ↗You can’t close your account if an investigation is ongoing
[US] You can’t close your account if an investigation is ongoing
Where it says this ↗
Good 1
Two factor authentication is provided for your account
[EU] Two factor authentication is provided for your account
Where it says this ↗
The documents
Ratings by ToS;DR volunteers; they can lag behind the current terms. Not legal advice.