Terms of Service
Please read these Terms of Service carefully before using the Wio Business platform. By creating an account or accessing our services, you agree to be bound by these terms. These terms are governed by UAE Federal Law.
1. About Wio Business
Wio Business is a digital financial services platform offering multi-currency business accounts, card management, payment processing, payroll, and related financial tools to UAE-registered businesses and freelancers. Our platform operates under applicable UAE financial regulations.
2. Eligibility
To use Wio Business, you must:
- Be at least 21 years of age
- Be a UAE resident or operate a UAE-registered business entity
- Hold a valid Emirates ID or appropriate residency documentation
- Possess a valid UAE trade licence (for business accounts)
- Not be subject to any sanctions lists maintained by the UAE or international bodies
- Have legal authority to operate the account on behalf of your business
3. Account Opening and KYC
Account opening is subject to successful completion of our Know Your Customer (KYC) process, including identity verification, document review, and compliance screening. We reserve the right to decline any application without providing reasons, in accordance with our AML/CFT obligations under UAE Federal Decree-Law No. 20 of 2018.
4. Accounts and Services
Wio Business provides the following account types and services:
- Multi-currency accounts: AED, USD, EUR, and GBP denominated accounts
- Debit cards: Virtual and physical Visa/Mastercard business cards
- Transfers: Local UAE transfers, SWIFT international wire transfers
- Saving Spaces: Flexible and fixed-term savings with stated interest rates
- WPS Payroll: Wage Protection System compliant payroll processing
- VAT Services: VAT filing assistance and tax documentation
- Business Financing: Subject to separate credit assessment and approval
5. Fees and Charges
Our fee schedule is published within the platform and may be updated with 30 days' notice. Fees may include account maintenance, international transfer charges, card issuance, and currency conversion margins. All fees are stated in AED unless otherwise specified. You authorise us to deduct applicable fees directly from your account balance.
6. Transaction Limits
Transaction limits apply based on your account tier and KYC verification level. Standard limits include a daily transfer limit of AED 750,000 and an ATM withdrawal limit of AED 50,000 per day. Limits may be adjusted at our discretion or upon your request, subject to compliance review.
7. Acceptable Use
You agree not to use the platform for:
- Any unlawful activity under UAE or international law
- Money laundering, terrorist financing, or sanctions evasion
- Transactions involving prohibited goods or services
- Unauthorised access to other accounts or systems
- Fraudulent or deceptive transactions
- Any activity that violates CBUAE regulations or directives
8. Security and PIN
You are solely responsible for maintaining the confidentiality of your login credentials, PIN, and any one-time passwords. You must notify us immediately at info@wiobiz.io if you suspect unauthorised access. We will never ask for your full PIN or password via email or phone.
9. Liability
To the maximum extent permitted by UAE law, Wio Business is not liable for indirect, incidental, or consequential damages arising from your use of the platform. Our liability for direct losses is limited to the amount of fees paid by you in the 3 months preceding the event giving rise to the claim. This limitation does not apply to losses caused by our gross negligence or wilful misconduct.
10. Service Availability
We aim to maintain 99.9% platform availability. Scheduled maintenance, force majeure events, regulatory requirements, or third-party system failures may cause temporary service interruptions. We will provide reasonable notice of planned maintenance where possible.
11. Account Closure
You may request account closure at any time by contacting info@wiobiz.io. We may close or suspend your account without notice if required by law, if we detect suspicious activity, or if you breach these terms. Any outstanding balance will be transferred to a nominated account after deducting applicable fees.
12. Changes to Terms
We may amend these Terms of Service at any time. Material changes will be communicated via in-app notification or email at least 30 days before the effective date. Continued use of the platform after the effective date constitutes your acceptance of the updated terms.
13. Governing Law and Disputes
These terms are governed by the laws of the United Arab Emirates. Any disputes arising from these terms or your use of the platform shall be subject to the exclusive jurisdiction of the courts of the UAE. We encourage resolution of disputes through our customer support channel before formal proceedings.
14. Contact
For questions about these terms or our services:
- Email: info@wiobiz.io
- Website: wiobizz.online