The agreement between you and KetaPay when you open an account and use the app. Each deal you make also has its own Escrow Agreement.
01
KetaPay is run by Keta Solutions Limited in Lagos. We are not a bank.
KetaPay is a trading name of Keta Solutions Limited (RC 9605936), B3, Monastery Road, Sangotedo, Lagos State, Nigeria. In these terms, "we" and "us" means Keta Solutions Limited and "you" means the person using the app.
We are not a bank and we don't take deposits. Money you pay into a deal or keep in your KetaPay balance is held by Zenith Bank, which is licensed by the Central Bank of Nigeria.
02
One account per person. Keep your PIN to yourself.
To open an account you must be 18 or over, live in Nigeria and have a Nigerian phone number. You can only have one personal account.
You're responsible for what happens on your account, so keep your PIN, passcode and phone safe. Tell us straight away if you think someone else has used it.
03
We ask for ID because the law says we must. More checks unlock higher limits.
We have to know who our customers are. We'll ask for your NIN or BVN and a quick selfie check, and for higher limits an ID document and proof of address. Each level you complete raises how much you can move.
04
1.5% each for buyer and seller on a deal. We always show the fee first.
On each deal the buyer pays 1.5% and the seller pays 1.5% of the deal amount, unless you agree in the deal that one side pays the full 3%. Card deposits and withdrawals may have their own fee.
We show every fee on screen before you confirm. If we change our fees we'll tell you at least 30 days before.
05
No illegal goods, no scams, no money laundering. See Schedule A.
You can't use KetaPay to break the law, to deceive anyone or to buy or sell anything listed in Schedule A. If you do, we can stop a deal, hold the money and close your account, and we may have to tell the authorities.
06
You can close your account at any time once your deals are finished.
You can close your account in the app once you have no active deals and your balance is empty. We can freeze or close your account if we have to by law, if we suspect fraud, or if you break these terms. We'll tell you why unless the law stops us.
07
We're responsible for our own mistakes, not for the quality of what you buy.
If money goes missing because of our mistake, we'll put it right. We aren't the buyer or seller in your deal, so we're not responsible for the quality of goods or services, though the Escrow Agreement explains how we help when there's a dispute.
[LIABILITY CAP AND EXCLUSIONS, TO BE WRITTEN BY COUNSEL]
08
Chat to us. If we can't fix it, you can go to the FCCPC.
Tell us in the app chat or email complaints@ketapay.com. We'll confirm we've got your complaint within 1 working day and give you a final answer within 14 days.
If you're not happy with our answer you can take your complaint to the Federal Competition and Consumer Protection Commission (FCCPC).
09
We'll give you notice before anything changes.
We'll tell you at least 30 days before we change these terms, unless the change is needed by law sooner. If you don't agree you can close your account before the change happens.
10
Nigerian law applies.
These terms are governed by the laws of the Federal Republic of Nigeria. [DISPUTE FORUM, TO BE CONFIRMED BY COUNSEL]
11
The list of things you can't buy or sell through KetaPay.
We update this list from time to time and will tell you when we do.