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WIPO Renames Its Current Account as WIPO Wallet and Cuts the Initial Deposit From 2,000 to 200 Swiss Francs

An open wallet on a desk with two blank cards and a small stack of coins beside it and a globe on the right, symbolising a prepaid account used to pay international filing fees to the World Intellectual Property Organization

The World Intellectual Property Organization (WIPO) has renamed its prepaid fee account, the Current Account at WIPO, as WIPO Wallet. The WIPO FAQ states that WIPO Wallet is the new name for the deposit account held with WIPO previously known as the Current Account at WIPO; it is managed in Swiss francs, intended for customers who pay WIPO regularly, and free of charge. The rename comes with a much lower entry threshold. The new terms of use require an initial deposit of at least 200 Swiss francs to open a WIPO Wallet, whereas the terms of the Current Account required at least 2,000 Swiss francs; a minimum balance of at least 200 Swiss francs must still be maintained at all times, as before. WIPO also states that companies or individuals with at least 4 transactions with WIPO per calendar year can open a WIPO Wallet.

The account can be used to pay for WIPO's online services, which the website lists as patents, trade marks, industrial designs, geographical indications, domain name disputes, arbitration and mediation, and WIPO Academy online courses.

It should be noted that the wallet must still be synchronised with a WIPO Account before it can be used for payments, and that dormant wallets with a balance below 200 Swiss francs or unused for 2 years or more may be closed at WIPO's discretion. For holders of an existing Current Account, the official wording describes a rename of the account, not a new account.

J&C recommends that firms and companies which regularly handle PCT, Madrid or Hague filings use the lower threshold to consider paying through WIPO Wallet: an account can be opened with 200 Swiss francs and funded according to annual fee volumes, saving bank charges on individual transfers and giving immediate payment confirmation; existing holders should log in to confirm that synchronisation with their WIPO Account and their payment settings work after the rename, and set balance alerts so that payments are not affected by a low balance or long inactivity.

Source: www.wipo.int | www.wipo.int | www3.wipo.int | www.wipo.int

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