Holding limits mean the amount of money you can legally hold in your Wise balance if you live in a particular region.
Due to local regulations in Japan, if your registered address is in Japan, you won’t be able to hold more than 1 million JPY equivalent in your personal Wise account across all of your balances.
What are the Japan holding limits?
Any money you keep in your Wise balances or Jars, in any currency, counts toward the 1 million JPY limit.
This limit applies to both personal and Wise Business accounts.
How do you calculate my JPY balance if I’m holding a different currency?
If you hold money in other currencies, we’ll calculate the value in JPY using the mid-market rate.
For example, let’s say you have:
500,000 JPY in your JPY balance, and
5,000 USD in yours USD balance
With an exchange rate of 1 USD = 135 JPY, your USD equals 675,000 JPY.
Adding this to your JPY balance gives you a total of 1,175,000 JPY, which exceeds the 1 million JPY holding limit.
What happens if I exceed the holding limit?
If your account balance exceeds 1 million JPY or equivalent at any point of the day, we’ll have to refund the excess to an account you own. Within 30 days, you can set up an external bank account so that we can automatically transfer any excess funds if your balance goes over the limit. See below how to set that up.
If your balance remains over 1 million JPY after 30 days, and you don't have an external account set up, we’ll need to restrict your account to stay compliant.
While restricted, you won’t be able to receive or add money to your account.
How do I set up an external account?
Your external bank account must be in your name, and denominated in JPY, EUR, SGD, USD, GBP, NZD or AUD. It can’t be your own Wise account.
You can only set up your external account from web:
Go to Recipients
Select your external bank account, or add a new one
Toggle on My Account toggle
An External account option will appear — select Set Up and follow the steps.
How do I remove the restriction from my account?
If you exceeded the holding limit, set up an external account so that we can transfer your excess funds out. Or you can send money from your balance by yourself.
Once you transfer your excess funds out, or convert them to Interest or Stocks, we’ll remove the restrictions from your account.
Make sure to manually reactivate your account details for each currency so you can receive money to those accounts.
Someone sent me money while my account was restricted
If you received any money while your account was restricted, you'll receive your money after your account restriction has been lifted.