Subject: Wise response - Wise Europe SA business account service in Hungary
From: Michele (Wise)
Date: Jun 29, 2026, 08:13 UTC

Dear Mr. Ruszin,

We have carefully reviewed your complaint and hereby we provide you with our response. Wise Europe SA is a payment institution incorporated in Belgium, authorised and supervised by the National Bank of Belgium ("NBB"), and operates in Hungary on a cross-border basis under the freedom to provide services pursuant to Article 11 of PSD2.

All customer accounts are governed by Belgian law, as expressly stated in Clause 33.6 of our Customer Agreement. Furthermore, as set out under Clause 12.12 of our Customer Agreement, local account details - including Hungarian IBANs - do not constitute separate payment accounts; they are solely a means of receiving funds into a single multi-currency Wise Account, which remains a Belgian payment account managed entirely from Belgium. Accordingly, these Account Details constitute virtual IBANs, as defined in Section 2 of our agreement. Wise Europe SA complies with the obligations applicable to it and collaborates closely with the regulators in the jurisdictions it operates in, including Hungary, to ensure compliance of our operations and protection of our users.

Kind regards,
Michele
Arbitration Specialist
Wise