These are the Terms of Service (“Terms”) governing your use and access to all products, subscriber-based services, mobile applications (“Services”), and websites offered by Bankeasy Microfinance Bank Ltd. (“Bankeasy”) or its branches or affiliates. These Terms represent a legally binding agreement between you and Bankeasy. Please read the Terms carefully and ensure you understand them before accessing any of our Services. Your use of our Services is subject to these Terms and our Privacy Policy, which we advise you to review carefully.
ACCEPTING THESE TERMS
By using or accessing our Services, you represent that you have read and understood these Terms and our Privacy Policy and you agree to be bound by both. If you do not agree to the Terms and the Privacy Policy, do not use or access our Services.
ACCOUNTS
You must operate an account with Bankeasy to be able to use the Platform. Our Services can be accessed on a computer, laptop device, and/or mobile device running an operating system supported by us. To log onto the Platform, you will need to enter your User ID and other security information that we request, or when available, by using biometric authentication which is a security process that relies on your unique biological characteristics to verify your identity. The current supported biometric authentication methods are touch ID and face ID methods.
You understand that when using biometric authentication to log onto the Platform, any fingerprint, facial map, or any other biometric data stored on your mobile device can be used to access the Platform and your accounts and to give instructions for certain transactions. You, therefore, should ensure that your mobile device only stores your fingerprint(s), facial map, or other biometric data, and will not store anyone else’s biometric credentials (e.g. fingerprint, facial map, or any other biometric data).
The biometric authentication on the Platform is performed by the biometric authentication module of your device, and we do not control the functionality of any mode of biometric authentication including fingerprint, touch ID or face ID. We make no representation or warranty as to the security of the biometric authentication function on your mobile device and we do not have access to your fingerprint(s) or facial recognition information. For more information on how the biometric functionality works for your mobile device, please refer to your device manufacturer’s support resources.
You understand and agree that any fingerprint stored on your mobile device can be used to access your account with Bankeasy MFB, therefore you shall take all reasonable measures to keep your mobile device and the password used to register your fingerprint(s), facial map or other biometric data on your mobile device in your safe custody, and to prevent unauthorized use or disclosure of your mobile device and the password. You shall be fully responsible for and bear the risk of any accidental or unauthorized disclosure of your mobile device and password to any other person or any unauthorized use of your mobile device and password by any other person.
We may notify you from time to time about changes in the security information. We will automatically log you out of the Platform if you are inactive for 3 minutes.
If you create an account via the Platform, you are responsible for maintaining the security of your account and you are fully responsible for all activities that occur under the account and any other actions taken in connection with it. Providing false contact information of any kind may result in the termination of your account. You must immediately notify us of any unauthorized uses of your account or any other breaches of security. We will not be liable for any acts or omissions by you, including any damages of any kind incurred as a result of such acts or omissions.
QUALIFICATION FOR USE
Accounts are available only to people aged 18 or over. You must be over the age of 18 to operate an account with the Company and use the Platform. Individuals under the age of 18, may utilize the service only with the involvement of a parent or legal guardian, under such person’s account and otherwise subject to these Terms. The User must have the contractual capacity to enter a binding contract with us and must not be barred from doing so under any applicable laws. You also warrant that any registration information that you submit to the Company is true, accurate, and complete, and you always agree to keep it that way and the Company will not be held liable for any loss or damage that may arise in this respect.
NO ENDORSEMENT
Bankeasy does not represent or endorse the accuracy or reliability of any content posted on any interactive area, and you acknowledge that any reliance on such content is at your sole risk. Content placed by users on any interactive area represents the views of the user and does not represent the views of Bankeasy. Our Services may contain links to websites owned and operated by third parties (the “External Sites”). Bankeasy is not responsible for the availability of, or the content located on, any External Site. You should contact the administrator or webmaster for the External Sites if you have concerns regarding links or content.
OWNERSHIP OF INTELLECTUAL PROPERTY
All content on our websites and applications, including but not limited to designs, text, graphics, images, video, information, software, music, source code, compilations, and sound (“Content”), are the proprietary property of Bankeasy. You are not permitted to modify, copy, distribute, frame, reproduce, download, or display any Content without Bankeasy’s prior written permission. Unauthorized use of the Content may violate applicable copyright and trademark laws and will terminate the license granted herein.
INDEMNIFICATION
You agree to indemnify, defend, and hold harmless Bankeasy and its affiliates, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, and employees from any claim or demand, including reasonable attorneys’ fees, arising from your breach of these Terms or violation of any law or third-party rights. Bankeasy reserves the right to assume the exclusive defense of any matter subject to indemnification by you, and you will cooperate in asserting any available defenses.
FEES
We charge fees and commissions as it may deem appropriate for the use of this service. Our fees are charged in line with applicable laws and reflect Bankeasy’s core values. We are committed to being transparent and will disclose all applicable fees on all transactions.
LIMITATION OF LIABILITY
You agree that, to the extent permitted by applicable law, your sole and exclusive remedy for any problems or dissatisfaction with the Services, the third-party applications, or the third-party application content is to uninstall any Bankeasy MFB Bank software and to stop using the Services, the third-party applications or the third-party application content.
TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT WILL THE COMPANY, ITS OFFICERS, SHAREHOLDERS, EMPLOYEES, AGENTS, DIRECTORS, SUBSIDIARIES, AFFILIATES, SUCCESSORS, ASSIGNS, SUPPLIERS, OR LICENSORS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL (INCLUDING LOSS OF USE, DATA, BUSINESS, OR PROFITS) DAMAGES, ARISING OUT OF THE USE OR INABILITY TO USE THE SERVICES, REGARDLESS OF ANY LEGAL THEORY, WITHOUT REGARD TO WHETHER THE COMPANY HAS BEEN WARNED OF THE POSSIBILITY OF THOSE DAMAGES, AND EVEN IF A REMEDY FAILS OF ITS ESSENTIAL PURPOSE, THE AGGREGATE LIABILITY FOR ALL CLAIMS RELATING TO THE SERVICES, SHALL NOT BE MORE THAN THE AMOUNTS PAID BY YOU TO THE COMPANY DURING THE PRIOR THREE MONTHS IN QUESTION. THESE LIMITATIONS WILL APPLY TO ALL CAUSES OF ACTION, WHETHER ARISING FROM BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE) OR ANY OTHER LEGAL THEORY.
Nothing in these Agreements removes or limits the Company’s liability for fraud, fraudulent misrepresentation, death or personal injury caused by its negligence.
DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY
The Services and all information, content, materials, products, and other services provided by Bankeasy are offered on an “As Is” and “As Available” basis unless otherwise specified in writing. Bankeasy disclaims all warranties, express or implied, including implied warranties of merchantability and fitness for a particular purpose. Bankeasy will not be liable for any damages of any kind arising from your use of the Services, including but not limited to direct, indirect, incidental, punitive, or consequential damages, unless otherwise specified in writing.
CAVEAT LECTOR
By continuing to use our Services, you acknowledge that any content you rely on from third-party sources is at your sole risk. Bankeasy assumes no responsibility for verifying third-party content.
REFUND POLICY
All transactions conducted through our Services are final unless otherwise stated in writing. Bankeasy reserves the right to assess refund claims on a case-by-case basis and will issue refunds only when necessary and in compliance with applicable regulations. For more details regarding refunds, please contact our customer service department.
GOVERNING LAW AND DISPUTE RESOLUTION
These Terms and any separate agreements whereby we provide you with Services shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any dispute, demand, claim, or cause of action shall be settled exclusively through binding and confidential arbitration in Lagos, Nigeria, without regard to conflict of law principles that may require applying the laws of another jurisdiction.
NO WAIVER
Our failure to enforce these Terms shall not constitute a waiver of these terms, and such failure shall not affect the right later to enforce these Terms. We would still be entitled to exercise our rights in any other situation where you breach these Terms.
SUSPENSION OF THE PLATFORM
The Company can, at any time, suspend your use of the Platform in any of the following situations; Where concerns exist about the security of the Platform; Where it is suspected that your account on the Platform has been used fraudulently or in an unauthorized way; Where it is suspected that your account on the Platform triggers certain AML/CFT risks; Where there is a significantly increased risk that you will be unable to repay any overdraft or fulfill an obligation on any of your accounts; Where there are legal or regulatory obligations we have to meet. We may give you advance notice of any suspension and tell you why. However, we will not do so if this would compromise our reasonable security measures or if it is unlawful to do this. Occasionally, we may not be able to contact you to give you advance notice. If you have entered incorrect login details on the Platform on several occasions, we will suspend your access to the Platform. If this happens, you can reset your login details within the Platform by identifying yourself and answering our security questions. Otherwise, you will need to call us on our customer care lines or email us at support@bankeasyng.com
RIGHTS OF THIRD PARTIES
A person or entity who is not a party to these Terms shall have no right to enforce any provision of these Terms, regardless of whether such person or entity has been identified by name, as a member of a class, or as answering a particular description. For the avoidance of doubt, nothing in this Paragraph shall affect the rights of any permitted assignee or transferee of these Terms.
SEVERABILITY
All rights and restrictions contained in this Agreement may be exercised and shall be applicable and binding only to the extent that they do not violate any applicable laws and are intended to be limited to the extent necessary so that they will not render this Agreement illegal, invalid, or unenforceable. If any provision or portion of any provision of this Agreement shall be held to be illegal, invalid, or unenforceable by a court of competent jurisdiction, it is the intention of the parties that the remaining provisions or portions thereof shall constitute their agreement with respect to the subject matter hereof, and all such remaining provisions or portions thereof shall remain in full force and effect.
DISPUTE RESOLUTION
The validity, construction, and performance of this Agreement shall be governed by the laws of the Federal Republic of Nigeria.
Parties shall use their best endeavors to amicably settle any dispute or difference of opinion arising from or in connection with this Agreement through mutual discussions in line with our Dispute Resolution and Complaint Management Control Framework.
All disputes should be logged formally by sending an email to support@bankeasyng.com within 90 days of the transaction date
Where the Parties are unable to resolve the dispute through mutual discussions, the dispute or difference of opinion shall be referred to mediation conducted by their legal representatives or financial auditors, where financial matters are involved. Failing which the dispute shall finally be referred to arbitration in accordance with the Arbitration and Conciliation Act Cap. A18, Laws of the Federation of Nigeria 2004, or any amendment thereto.
The place of arbitration shall be Lagos State, Nigeria and there shall be a sole arbitrator who shall be appointed jointly by the parties. Where the parties fail to jointly agree on the appointment, they shall approach the Lagos Multi-Door Court House to appoint a sole arbitrator who shall be competent to adjudicate on the issue in dispute.
The language to be used in the arbitral proceedings shall be English. The arbitral award shall be final and binding between the Parties. The reference of any dispute to arbitration shall not prevent the Parties from seeking any form of protective reliefs/injunctions/specific performance from a court of law via motion or other originating processes for the protection of any res pending the constitution of the Arbitral Panel and/or final award.
CHANGES AND AMENDMENTS
We reserve the right to modify this Agreement or its policies relating to the Platform or Services at any time, effective upon posting an updated version of this Agreement in the Platform. When we do, we will send you an email to notify you. Continued use of the Platform after any such changes shall constitute your consent to such changes.
CONTACTING US
If you have any questions about this Agreement, please contact us. Last updated in September 2024.