1. THE AGREEMENT
These are the terms and conditions upon which you may use the Stanbic IBTC Bank PLC’s ("Stanbic IBTC Bank") Mobile Money Services, the acceptance of which constitutes a binding contract between you and Stanbic IBTC Bank. When you register as a Mobile Money customer and accepting these conditions, you agree to abide by these Conditions of Use. You therefore need to read and fully understand these Conditions of Use and if you do not agree with them, you may discontinue the use of your Mobile Money account.
2.1. "Account" means your Mobile Money Account, being the record maintained by us of the amount of funds held by you on your mobile wallet and represented by an equivalent amount of cash held by Stanbic IBTC Bank on your behalf.
2.2. "Agent(s)" means person(s) registered and engaged by Stanbic IBTC Bank to provide Mobile Money Services, details of which may be obtained from Stanbic IBTC Bank offices.
2.3. "Agreement" means these terms and conditions together with the application form.
2.4. "Mobile Money Retailer" means a seller of Goods and Services who accepts Mobile Money vouchers as payment for Goods and Services.
2.5. "Mobile Money Services " means the services provided by Stanbic IBTC Bank for the issue and redemption of vouchers and the transfer of money between Customers on the basis of Transfer Instructions including the recording of all Transactions, verifying and confirming all Transactions concluded and updating Customer Account records.
2.6. "Mobile Money System" or "Mobile Money" means the proprietary mobile payment/remittance and financial service which is marketed, managed, and operated exclusively by Stanbic IBTC Bank in the Federal Republic of Nigeria.
2.7. "Mobile Money Website" or "www.stanbicibtcbank.com/Mobile Money" refers to the Mobile Money section on the website address of Stanbic IBTC Bank.
2.8. "Charges" means the Charges and other charges payable under this Agreement for the Mobile Money Services.
2.9. "Conditions of Use" means these terms and conditions as may be varied by us from time to time.
2.10. "Credit Balance" means the amount of funds in credit position in your Account.
2.11. "Customer" means you and every other person in whose name an Account for the Mobile Money Services is registered.
2.12. "Customer Contact Centre" means Stanbic IBTC Bank’s Customer Service support.
2.13. "Deposit" means any transaction which results in your Account being credited with funds as verified by Mobile Money;
2.14. "Debit" means the movement of funds out of your mobile wallet Account.
2.15. "Debit Transaction" means any transaction which results in a Debit of funds from your Account as verified by Mobile Money.
2.16. "Goods and Services" means such goods and services as may be purchased from Authorised Retailers using the Mobile Money System.
2.17. "ID Number" means the number associated with the form of identification provided
2.18. "Mobile Agent " means a registered Mobile Money sales agents engaged by Stanbic IBTC Bank to operate the Mobile Money device
2.19. "Mobile Phone" means your Mobile Phone, number or other equipment which when used together allows access to Mobile Money Services and, in each case, is approved for use within the Federal Republic of Nigeria.
2.20. "Mobile Phone Airtime Recharge" means mobile phone calling credit.
2.21. "Mobile Phone Network Service" means the Global System for Mobile Communications ("GSM") services provided by mobile phone operator(s).
2.22. "Mobile Phone Network Service Provider" means the provider of GSM Network Services.
2.23. "Mobile Wallet" means your virtual account accessible via your mobile phone.
2.24. "Payments" means money paid to an Agent, for the purchase of an equivalent amount of voucher sums credited to your Account or as a remittance transaction or for payment at a Mobile Money retailer.
2.25. "PIN" means the four digit personal identification number being the secret code you choose to access and operate your Account.
2.26. "Release PIN" means the four digit secret number used to create and send a voucher.
2.27. "Recipient" means the receiver of the Mobile Money voucher or transfer who may redeem it for cash or deposit it in his/her mobile wallet. 2.28."Registration Form" means the registration form containing registration details and acceptance of these Conditions of Use by you in the form annexed hereto;
2.29. "SMS" means short message service being text messages transmitted from one Mobile Phone to another or from the Mobile Money service.
2.30. "Stationary Agent " means any shop, unit or other retail premises engaged by Stanbic IBTC Bank to provide Mobile Money services.
2.31. "Transactions" means any of the transactions specified in Clause 8.5.
2.32. "User Guide" means a document describing the Mobile Money System and its use.
2.33. "We" or "us" or "our" means Stanbic IBTC Bank and (where applicable) its subsidiaries.
2.34. "You" or "your" means the Customer.
2.35. "Voucher" means the e-money you obtain from Mobile Money service to credit your account or remit money
3. APPLICATION FOR ACCOUNT
3.1. Any person resident in Nigeria may register for and use the Mobile Money service provided they have an active mobile phone line and are over the age of 18 years old.
3.2. You will be liable to pay your Mobile Phone Network Service provider for all network costs incurred using the Mobile Money Service. You will also be liable to pay applicable charges for your use of the Mobile Money Services and such Charges may be deducted directly from your Mobile Money Account.
3.3. You may register for Mobile Money Services by yourself on your phone using USSD, WAP, via the Mobile Money website, with any Mobile Money Agent or at any Stanbic IBTC Bank branch.
3.4. To register as a Customer to use Mobile Money, you will be required to provide the following information which we will use to identify you;
3.5. All information provided must be complete and accurate.
3.6. We may decline your application to register for Mobile Money at our sole discretion.
3.7. We may refuse to open an Account for you if we are not satisfied with proof of your identity.
3.8. On activating your Mobile Money Account on your mobile phone, you are required to choose a secret PIN and are entitled to use the Mobile Money Services.
4. MOBILE MONEY SERVICES
4.1. The Mobile Money Services are made available to you subject to these Conditions of Use.
4.2. Although we will try to ensure that you are able to make full use of the Mobile Phone Network Service to access Mobile Money Services within the coverage area, we do not guarantee that the Mobile Money Services will be available at all times and we will not be responsible or liable for any loss whatsoever or howsoever arising as a consequence of the non-availability of the Mobile Money Services. The Mobile Money Services are not fault free and factors including (but not limited to) acts of God, geographical topography, weather conditions, planned maintenance or rectification work on the Mobile Phone Network Service may interfere adversely with the quality and provision of the Mobile Money Services.
4.3. In the event of damage to, loss or theft of your mobile phone, your Mobile Money account remains safe and secured provided you have not disclosed your secret PIN or stored it in a place accessible to a third party.
4.4. Please note that the confidentiality of your communications via Mobile Phone Network Services are not guaranteed. You are advised that for reasons beyond our control, there is a risk that your communications may be unlawfully intercepted or accessed by those other than the intended recipient. We cannot accept any liability for any loss, injury or damage whether direct or consequential arising out of any such compromise of confidentiality.
4.5. You accept that we may disclose or receive personal information or documents about you:
4.6. You must comply with any instructions that we may give you from time to time about the Mobile Money Services.
4.7. Your calls, emails or SMS's to our Customer Contact Centre may be monitored or recorded for use in business practices such as quality control, training, ensuring effective systems operation, prevention of unauthorised use of our telecommunications system and detection and prevention of crime.
5. ACCEPTANCE AND COMMENCEMENT OF CONDITIONS OF USE
5.1. You are deemed to have accepted these Conditions of Use as amended from time to time and which take effect:-
6. SUSPENSION AND DISCONNECTION OF THE SERVICES/CLOSURE OF ACCOUNT
6.1. We may suspend (bar), restrict or terminate the provision of the Mobile Money Services (in whole or in part) and/or close your Account without informing you and without any liability whatsoever (although, we will, where possible, try to inform you that such action is or may be taken) under the following circumstances:-
6.2. To access the Mobile Money Services, your phone must be operational with access to the applicable mobile network services.
6.3 We will also close your Account upon receipt of your request to close your Account.
6.4. Where the use of your PIN has been suspended or disconnected or your Account closed any Credit Balance in your Account will be repaid to you in cash upon your presenting yourself with appropriate identification document(s) at any of our branch locations. You will only be paid any Credit Balance in cash less any applicable fees and charges due to your account upon satisfactory evidence of your identity being produced.
6.5. We will not be responsible to you for any direct, indirect, consequential or special damages arising from any act or omission by us or any third party for whom we are responsible, whether arising in contract, or statute, if we close or suspend your Account in terms of this clause.
7. FEES AND CHARGES
7.1. Charges as published are payable to Mobile Money for Transactions effected from Mobile Money agents or from your Account. The Fees and Charges Guide is available from Stanbic IBTC Bank's offices and branches or by accessing the Mobile Money Website.
7.2. For transactions consummated at Agent or branch locations, the applicable charges for each Transaction are calculated and presented as part of the total payable amount.
7.3. For transaction initiated from your mobile phone, the applicable fee will be deducted from your Mobile Money Account by Mobile Money on completing each Transaction and you will be notified of your new balance.
7.4. Charges include Value Added Tax ("VAT") but are subject to other applicable levies and taxes at the then prevailing rates.
7.5. Others Charges payable by you in connection with the use of the Mobile Money Services includes charges for SMS notifications may be debited from your Account without further reference to you.
8.1. All Debit Transactions from your Account will be effected by Transfer Instructions authorised with the PIN which you choose when you activate your mobile wallet, or by such other method we may prescribe from time to time. Proof of ID may be required before any Transaction can be effected at an agent or branch location and the ID presented may be recorded by the Agent on each Transaction.
8.2. Your Account will be credited when you receive a Voucher and deposit same in your Account or when you receive a transfer in to your Mobile Money Account from another Customer.
8.3. You may not affect any Transactions from your Account in the event that you do not have sufficient funds in your Account to meet the value of the Transaction and Charges applicable thereto.
8.4. The Mobile Money System will verify and confirm all Transactions affected from your Account by you by requesting for your PIN. The Mobile Money System records will be taken as correct unless the contrary is proved.
8.5. On being provided with an Account, you will be able to affect the following transactions:-
8.6. Each Transaction will be issued with a unique transaction ID number. This transaction ID number is used to track & identify all Transactions carried out on your Account.
9. SECURITY AND UNAUTHORISED USE
9.1. Only one PIN Number can be linked to your Account at any time.
9.2. Only you may use your Mobile Phone and PIN Number.
9.3. You are responsible for the safekeeping and proper use of your Mobile Equipment, for keeping your PIN, and for all Transactions that take place on your account using your PIN.
9.4. Your demographic details will be used to confirm your identity when you call the Call Centre. Do not disclose your PIN to any person including the staff at the Customer Care Centre.
10. YOUR RESPONSIBILITIES
10.2. You are solely responsible for any transmitted material and or communication, which is classified as defamatory, illegal or in breach of any copyright and shall indemnify and keep us indemnified against any claims and expenses made against us in respect thereof.
10.3. You must not use the Mobile Money Services to commit any offence(s) against Nigerian Law.
11.1. We reserve the right to vary at any time and without prior notice to you these Conditions of Use or the Charges. Variations will be notified by way of advertisement in a daily newspaper, SMS, or through the Mobile Money website and or by using any other suitable means provided that you shall be deemed to have been notified of any such variations regardless that the same may not have actually come to your attention.
11.2. By continuing to use the Mobile Money Services you shall be deemed to have agreed to the variations contemplated in Clause 11 (1) above. If you do not accept any of the variations then you must not continue to effect any Transactions otherwise you will be deemed to have accepted such modifications.
12. THE BANK’S RESPONSIBILITY
12.1. The Stanbic IBTC Bank hereby declares that it holds all Payments received in respect of the deposit of funds into your account or transfers of money voucher on trust for you and for your benefit and that you shall be beneficially entitled to all those Amounts standing to the credit of your Account. You agree that the Bank may treat the records of the Mobile Money System as conclusive evidence of the amount of funds at any time standing to the credit of your Account. You further acknowledge that, in relation to any payment to you in respect of your entitlement to the account balance, we may act on instructions given by you using your PIN or instructions purported to be given by you using your PIN even if they are actually given by a third party.
12.2. You acknowledge that the Bank shall have no obligation to invest the funds in your account other than by way of holding the same safe and securely for you.
13. LIABILITY AND EXCLUSIONS
13.1. To the maximum extent permissible by law we exclude warranties of all kinds, either express or implied.
13.2. All Agents are no more than independent outlets authorised by Stanbic IBTC Bank to provide Mobile Money Services and no agency relationship exists between Stanbic IBTC Bank and the Agents and we accordingly bear no responsibility or liability for any default or negligence on the part of the Agents in providing the Mobile Money Services.
13.3. We shall not be liable for any loss which you suffer unless it is directly caused by our negligence or willful act. In the event that we are negligent or you suffer loss from our willful act, then, we shall only be liable for the loss that a normal Customer in your position would have suffered and not any loss which results from your particular circumstances; even if we know that your circumstances are unusual.
14.1. This Agreement (as may be amended from time to time) forms a legally binding agreement between you and Stanbic IBTC Bank and is binding on you and your heirs, personal representatives and assigns.
14.2. This Agreement may not be assigned to any other person.
14.3. No failure or delay by either of us in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy.
14.4. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.
14.5. If any provision of these Conditions of Use shall be found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provision shall not affect the other provisions herein and all provisions not so affected by such invalidity or unenforceability shall remain in full force and effect.
15.1. You may obtain a balance enquiry from your Mobile Phone and query any transactions effected using your Mobile Phone or other applicable channels. You may also call our Customer Contact Centre to inquire about your transaction.
15.2. Printed statements of your Account will not be provided.
15.3. We will close your Account upon receiving a written request from you.
16. FAILURE OR MALFUNCTION OF EQUIPMENT
16.1 We are not responsible for any loss arising from any failure, malfunction, or delay in any Mobile Phone Network Service, Mobile phones, Internet or terminals or any of its supporting or shared networks.
17.1. We are entitled to send information to you via SMS to the contact Mobile Phone number supplied on your application form. These SMS's are for information and notification purposes only.
17.2. You should send any legal notice to us at our address: Mobile Money Service, Stanbic IBTC Bank PLC, I.B.T.C Place, Walter Carrington Crescent, Victoria Island, Lagos.
18.1. You must pay all our expenses in recovering any amounts you owe us including legal fees, collection fees and tracing fees.
18.2. A certificate signed by any of our managers (whose appointment need not be proved) showing the amount you owe us is sufficient proof of the facts stated on the certificate, unless the contrary is proved.
18.3. We will not be responsible to you for any indirect, consequential or special damages arising from any act or omission by us or any third party for whom we are responsible and whether arising in contract or statute.
18.4. You must notify us immediately in writing of any change of your details in your Registration Form.
18.5. You agree that your information, including your personal information, your conversations with our Customer Contact Centre and your Transactions will be recorded and stored for record keeping purposes for 7 (seven) years.
18.6. All copyright, trademarks and other intellectual property rights used as part of the Mobile Money Services or contained in our documents are owned by Stanbic IBTC Bank or its licensors. You agree that you acquire no rights thereto.
19. GOVERNING LAW AND JURISDICTIO
19.1. This Agreement is governed by the laws of the Federal Republic of Nigeria.
19.2. Any dispute arising out of or in connection with this Agreement shall be referred to a court of competent jurisdiction.