Terms of Use
TERMS & CONDITIONS OF USE OF UCEE WEBSITE, UCEE APP & OTHER UCEE ELECTRONIC/DIGITAL BANK CHANNELS
PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE YOU PROCEED. BY USING THIS SERVICE, YOU INDICATE THAT YOU UNCONDITIONALLY ACCEPT THE TERMS AND YOU AGREE TO ABIDE BY THEM. IF YOU DO NOT AGREE WITH THE TERMS, PLEASE DO NOT USE THIS SERVICE.
1. Introduction
1.1 These terms and conditions apply to and regulate the provision of financial services provided by Ucee Microfinance Bank Limited (“Ucee”), a digital microfinance bank licensed by the Central Bank of Nigeria (“CBN”) which provides financial services to its Customers, via the Service. These Terms and Conditions constitute Ucee’s offerings and set out the terms and conditions governing this Agreement.
1.2 By registering for a Ucee Account or using any of the services provided on the Ucee app, you agree to comply with all of the terms and conditions stated in this Agreement. You also agree to comply with Ucee’s Information Security Policies, as may be amended from time to time.
1.3 We may revise these terms and conditions as well as the Information Security policies from time to time. The revised version will be effective at the time we post it, unless otherwise stated.
1.4 By continuing to use this Service after any changes to this Agreement and/or the Information Security policies become effective, you agree to abide and be bound by those changes. If you do not agree to these terms and conditions, please exit the Service immediately.
1.5 We may terminate your relationship with us if you believe that you have violated any of these terms.
2. Definitions
In this Agreement, the following capitalized words shall have the meanings ascribed below:
2.1 “Account” means the Customer’s account with Ucee;
2.2 “Account Security Details” has the meaning given in paragraph 5 of this Agreement;
2.3 “App” means the mobile banking application of Ucee;
2.4 “Borrower/Customer”has the meaning given in paragraph 3.4 of this Agreement;
2.5 “Business Day”means any day other than a Saturday, Sunday or public holiday declared by the Federal Government of Nigeria, on which commercial banks are generally open for business in Lagos, Nigeria;
2.6 “Instruction” means the Customer’s request to Ucee in respect of the Customer’s Account;
2.7 “Loan”means the amount advanced to the Borrower by Ucee;
2.8 “Login Password” means the enabling code with which the Customer accesses the Service, and which is known only to the Customer;
2.9 “One Time Password (‘’OTP’)” means the second-factor enabling code with which the Customer can authorize transactions and processes. This can be sent to the Customer’s registered telephone number, registered e-mail or gotten from a hardware token issued by Ucee;
2.10 “Service” means the electronic and digital banking services of Ucee, including but not limited to the Ucee website, the Ucee App, and other Ucee electronic and digital bank channels;
2.11 “This Agreement”means these terms and conditions, together with the Ucee’s Data Privacy Policy and other Information Security policies; and
2.12 “Transaction Personal Identification Number (‘’PIN’’)” means the enabling code with which the Customer can pay bills, transfer or move funds from one Account to the other, and authorize several processes and transactions.
3. Interpretation
In this Agreement, unless the context otherwise requires, the following rules of interpretation shall apply:
3.1 The singular shall include the plural and vice versa.
3.2 A reference to one gender, whether masculine or feminine includes the other gender.
3.3 The recitals, schedules and all documents and policies referred to in this Agreement shall form part of the Agreement.
3.4 The terms “ you”, “your”, “Customer”, “Borrower” shall mean (a) a person who applied for an Account with Ucee, or (b) a person who maintains an Account with Ucee, and uses the Services and agrees to this Agreement. The terms “ we”, “us”, “our”, and “Ucee” shall mean Ucee and following an assignment, any person, company or bank to whom the rights and/obligations of Ucee have been assigned or transferred.
4. Grant and Scope of Licence
4.1 In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive licence to use the Service subject to these terms and conditions. We reserve all other rights, except as expressly set out in this Agreement or as permitted by any applicable law.
4.2 You also agree as follows:
4.2.1 not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the Service in any way or manner whatsoever;
4.2.2 not to make alterations to, or modifications of, the whole or any part of the Service, or permit the Service or any part of it to be combined with, or become incorporated in, any other programs;
4.2.3 not to disassemble, decompile, reverse-engineer, or create derivative works based on the whole or any part of the Service or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving inter-operability of the Service with another software program, and provided that:
4.2.3.1 the information obtained by you during such activities is not disclosed or communicated to any third party without our prior written consent; and is not used to create any software that is substantially similar to the Service;
4.2.3.2 you include our copyright notice on all entire and partial copies you make of the Service on any medium; and you undertake not to provide or otherwise make available the Service in whole or in part (including object and source code), in any form to any person without prior written consent from us; and
4.2.3.3 you agree to comply with all applicable technology control or export laws and regulations that apply to the technology used or supported by the Service.
5. Scope and Mode of Service
5.1 The Service allows the Customer to give Ucee Instructions by use of Customer username, Login Password, security answer to predefined questions, and a Transaction PIN (individual and collectively, “Account Security Details“) for the following:
5.1.1 to obtain information regarding Customer’s balance as at the last date of business with Ucee;
5.1.2 to obtain information with regards to any instrument in clearing or any credit standing in the Customer’s Account as at the last date of transaction on the Customer’s Account;
5.1.3 to authorize Ucee to debit the Customer’s Account to pay utility bills and/or any other bills as may be specified by the Customer, subject however to availability of such bill payment under this Service;
5.1.4 to authorize Ucee to effect transfer of funds from the Customer’s Account to any other Account with Ucee or outside Ucee;
5.1.5 to authorize Ucee to effect a stop payment order on any previously authorized transaction;
5.1.6 to authorize Ucee to effect any other transaction offered by Ucee on its electronic banking services platform.
5.2 On receipt of Instructions, Ucee will endeavor to carry out the Customer’s Instructions on a best-effort basis, except all or any unforeseen circumstances such as act of God, force majeure, and other causes beyond Ucee‘s control.
5.3 For the Service to be available to any Customer, he/she must have any one or a combination of the following: (a) an Account with Ucee; (b) a username, Login Password, security answer, transaction PIN and one time password (OTP); (c) a computer, smartphone, tablet and other similar devices; (d) a functional e-mail address, phone number, and date of birth.
6. Conditions of Use
6.1 To use the Service, you must first open a Ucee Account by registering your details through the App or any other form of the Service. As part of the signup process, you will need to accept these terms and our Information Security policies, and you must have legal capacity to accept the same. If you order additional services, you may be asked to accept additional terms and conditions.
6.2 If you are an individual, you must be a Nigerian citizen and 18 years or older to use the Services and by opening a Ucee Account you declare that you are Nigerian and at least 18 years old. This does not apply to products for which we may set a different age limit. We may require at any time that you provide evidence of your age.
6.3 You must provide all information as may be requested by us, such as your name, Bank Verification Number (“BVN”), email address, mobile device number and such other information as we may request from time to time (collectively, “Customer Information“).
6.4 You agree to promptly notify us of changes to your Customer Information by updating your profile on the Service and to notify us at least five (5) Business Days before any changes to your bank Account information, including, but not limited to, the closure of your bank Account for any reason. If we approve your registration, you will be authorized to use the Account, subject to these terms.
6.5 By opening a Ucee Account you represent and warrant to us that your opening of a Ucee Account does not violate any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection with your breach of this paragraph.
6.6 By operating a Ucee Account, you hereby consent that Ucee may collect, obtain, store and process your personal data that you have provided to us during the onboarding process for the purpose of receiving updates, news, promotional and marketing emails or materials from Ucee.
6.7 You may only add payment instruments (such as bank Accounts, credit or debit cards) to your Ucee Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which you are not the named holder as a violation of these terms.
6.8 During signup you will be asked whether you intend to use your Ucee Account for private or commercial purposes. If you have any intention to use your Ucee Account for commercial purposes, you must tell us, even if you also use it for private purposes. If you have stated that you will use your Ucee Account for private purposes only, you must tell us immediately before, at any point in the future you use it for commercial purposes by contacting Ucee on the following contact channels uceecare@uceemfb.com and 0700-00-UC-UC-UC (0700-00-82-82-82).
7. Account Opening/Management
Where you use this Service to open an Account, you hereby request and authorize Ucee to do the following:
7.1 Open an Account in your name; and at any time subsequently, to open further Accounts as you may direct.
7.2 Honour all withdrawal instruments which may be drawn on the said Account, provided that such withdrawal Instructions to the said Account (whether the Account is in credit or overdrawn or may become overdrawn in consequence of such withdrawal) are without prejudice to Ucee’s right to refuse to allow any overdraft, and in consideration of this, you agree:
7.2.1 to assume full responsibility for the genuineness, correctness and validity of endorsements appearing on all documents deposited in your Account(s);
7.2.2 to be bound by Ucee’s rules for the conduct of the Account(s), receipt of which you hereby acknowledge;
7.2.3 to free Ucee from responsibility or liability for any loss or damage to funds deposited with Ucee due to any future government order, law, levy, tax, embargo, or such other causes beyond Ucee’s control;
7.2.4 that all funds standing to your credit are payable only in the currency as may be in circulation in Nigeria at any given time;
7.2.5 to be bound by any notification of change in conditions governing the Account or information relating to the Account, directed to your last known contact address. You hereby agree that any notification sent to your last known contact address shall be considered duly delivered and received by you at the time it is delivered at such address;
7.2.6 that Ucee will not in any way whatsoever be liable for funds handed by you, or your representative to members of staff of Ucee, or persons purporting to be members of staff of Ucee outside banking hours, outside Ucee’s premises or outside the scope of the Service;
7.2.7 that Ucee’s statements on your Account shall be sent to the e-mail address and/or phone number you supplied and from time to time such other information relevant to the Account may be sent to the e-mail address and/or phone number you supplied;
7.2.8 that interest will be paid on deposits in your savings Account at Ucee’s ruling rates and subject to prevailing conditions;
7.2.9 that you would promptly and clearly communicate any changes to your details to Ucee in writing immediately the changes occur.
7.2.10 not to use your Account as a medium for fraud, or to convert funds belonging to other persons;
7.2.11 to honour all cheques or other orders which may be drawn on your current Account, provided that such cheques or orders to the said Account (whether such Account is in credit or overdrawn or may become overdrawn in consequence of such debit) shall be without prejudice to Ucee’s right to refuse or allow any overdraft or increase in overdraft on the Account;
7.2.12 that if any cheque credited into your Account is returned dishonoured, Ucee may notify you through your telephone numbers or e-mails;
7.2.13 that your attention has been drawn to the necessity of safeguarding your cheque book, debit card, credit card, other bank instruments, personal identification number (PIN) and codes so that unauthorised persons are unable to gain access to them. You hereby agree that your failure to protect any of these information, or neglect of this precaution in whatsoever way may be grounds for any consequential loss being charged to your Account;
7.2.14 that Ucee is not under any obligation to honour any cheque(s) drawn on your Account unless there are sufficient funds to cover the value of the instrument (and any associated cost). You also agree that any such instrument may be returned to you unpaid, but, if paid notwithstanding the insufficiency of funds, you are obliged to repay Ucee any outstanding sum on your Account in addition to charges and interest accrued thereon;
7.2.15 that any sum standing to the debit of your Account shall be liable to interest charges at the rate fixed by Ucee from time to time. Ucee is authorized to debit from the Account the usual banking charges, interests, commissions, and any service charges set by the management from time to time;
7.2.16 that in addition to any general lien or similar right to which Ucee may be entitled to by law as bankers, Ucee may at any time and without notice to you combine or consolidate all or any of your Accounts without any liabilities to it, and set-off or transfer any sum or sums standing to the credit of any one or more of such Accounts or any other credit, be it cash, cheques, valuables, deposits, securities, negotiable instruments or other assets belonging to you towards the satisfaction of any of your liabilities to any other Account or in any other respect, whether such liabilities be actual or contingent, primary or collateral and several or joint;
7.2.17 to comply with all rules and regulations issued by Ucee governing the use of the Service;
7.3 Honour all online Instructions to transfer funds from the said Account to another Account held by you, or any other person, or to make payments for services, without prejudice to Ucee’s right to refuse to allow any overdraft or increase in overdraft and without liability to Ucee for such transfer.
7.4 Report any incidence of dishonoured/returned cheques to regulatory and/or law enforcement agencies as may be required by law or regulations from time to time.
7.5 If a fraudulent activity is associated with the operation of your Account, you agree that Ucee has the right to apply restrictions to your Account and report to appropriate law enforcement agencies.
8. Use and Protection of Account Security Details
8.1 You understand that the Account Security Details are used to give Instructions to Ucee and accordingly you undertake that under no circumstance shall any part of the Account Security Details be disclosed to any third party. You further undertake to memorize the Account Security Details and not to reproduce or store any part of the Account Security Details in any accessible place or manner, or in any recognizable form, or on any other item carried along with the internet services to prevent access to same by a third party.
8.2 The issuance of any Instruction with any component of the Account Security Details shall be sufficient confirmation of the authenticity of the Instruction given, and Ucee shall, without more, assume that the Instructions were issued by the Customer and shall be entitled to rely on same to effect the Instruction.
8.3 The Customer undertakes to immediately change his/her Account Security Details upon reasonable suspicion of it becoming known to a third party.
8.4 The Customer hereby indemnifies and exempts Ucee from any liability whatsoever for Ucee’s compliance with any or all Instruction(s) given by means of any of the Account Security Details, if by any means any part of the Account Security Details becomes known to a third party or otherwise becomes compromised.
8.5 The Customer shall be responsible for any Instruction given with the use of any of the Account Security Details. Accordingly, Ucee shall not be responsible for any fraudulent, duplicate or erroneous Instruction given by means of any of the Account Security Details.
9. Customer Responsibility
9.1 The Customer undertakes absolute responsibility for safeguarding his/her Account Security Details, and undertakes not to disclose any part of the Account Security Details to any person under any circumstance.
9.2 Ucee is hereby exempted from any liability arising from unauthorized access to the Customer’s Account and/or data as contained in Ucee’s records via the Service, which arises as a result of inability and/or otherwise of the Customer to safeguard his/her Account Security Details; and/or failure to completely log out of a system, thereby allowing on screen display of his/her Account information.
9.3 Ucee is further relieved of any liability as regards the occurrence of a breach of Ucee’s duty of secrecy to the Customer by hackers and other unauthorized access to the Customer’s Account via the Service which may arise from the Customer’s failure or inability to protect his/her Account Security Details as required in this Agreement.
9.4 The Customer undertakes to change his/her Account Security Details immediately he/she has reason to believe that any part of it has become known to any third-party. The Customer agrees that he/she is under a duty to notify Ucee whenever he/she has reason to believe that any part of his/her Account Security Details has become known to any third-party.
9.5 Where a Customer notifies Ucee of his intention to change his password, security answer and/or transaction PIN arising from either his loss of memory of same or that it has come to notice of a third party, Ucee shall with the consent of the Customer, delete same and thereafter allow the Customer to enter a new password, security answer and/or transaction PIN. Provided that Ucee shall not be responsible for any losses that occur between the period of such memory loss of the password, security answer and/or transaction PIN or knowledge of a third-party, and the time the report is lodged with Ucee.
9.6 The Customer shall be responsible for any fraud, loss and/or liability to Ucee or third-party arising from the use of any of the Customer’s Account Security Details by a third party. Accordingly, Ucee shall not be responsible for any fraud that arises from the use of any of the Customer’s Account Security Details.
9.7 Upon enrolment of a Customer for the Service, Ucee may deduct applicable monthly/quarterly/annual fees and/or charges from the Customer’s Account, whether or not the Customer made use of the Service during the period in question, provided that the Customer had activated his/her profile by accessing the Service using his/her login credentials.
9.8 The Customer hereby:
9.8.1 undertakes to provide true, accurate, current and complete information about himself/herself as requested in Ucee’s self-registration and Account opening forms, and the Customer agrees not to misrepresent his/her identity or information.
9.8.2 undertakes not to use the Service for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another’s privacy, abusive, threatening, or obscene, or that infringes the right of others.
9.8.3 acknowledges and agrees that Ucee owns all rights to the Service(s) used to provide the service and the contents displayed on the Service. The Customer is only permitted to use content on the Service only as expressly authorized by Ucee. The Customer may not copy, reproduce, distribute, or create derivative work from content on the Service without the written consent of Ucee. A violation of any of the above guidelines is grounds for discontinuation of the Service by Ucee without notice to the Customer.
9.8.4 acknowledges that copyright in the pages of the self-registration and Account opening forms, in screens displaying the pages, and in the information and material therein is owned by Ucee.
10. Content and Use
10.1 This Service which is provided to you without any charge is designed to allow you open an Account with or us and/or access your Account. Consequently, confidential information might be sent to you following activities initiated by you on this Service. This information will be sent to the email addresses provided by you at the point of onboarding or subsequently (“your email address”). We presume that all Instructions received from your email address is valid and can be duly executed. YOU HEREBY AGREE TO INDEMNIFY, KEEP INDEMNIFIED AND HOLD HARMLESS UCMFB, ITS AFFILIATES, THEIR DIRECTORS, EMPLOYEES, AND OFFICERS (THE “INDEMNIFIED PERSONS”) AGAINST ALL CLAIMS, PROCEEDINGS, LIABILITIES, LOSSES, OBLIGATIONS AND COSTS (“LOSSES”) RESULTING DIRECTLY OR INDIRECTLY FROM THE TRANSMISSION OF THE CONFIDENTIAL INFORMATION TO YOUR EMAIL ADDRESS.
10.2 Certain parts of this Service may be accessed only by use of a user identification number and/or password (“log-in details”). If you have access to any of these parts, you are responsible for ensuring that your log-in details are kept secure and not disclosed to any other person. If you disclose your log-in details to any other person or become aware of any unauthorized access, you are obliged to advise us immediately to enable us de-activate or otherwise restrict your Account as may be required. YOU ARE RESPONSIBLE FOR AND HEREBY AGREE TO INDEMNIFY, KEEP INDEMNFIED AND HOLD HARMLESS, THE INDEMNIFIED PERSONS FROM AND AGAINST ALL LOSSES RESULTING DIRECTLY OR INDIRECTLY FROM THE USE OF YOUR LOG-IN DETAILS BY THE PERSON TO WHOM YOU DISCLOSED THOSE DETAILS OR BY ANY OTHER PERSON.
10.3 We reserve the right to revise the content, display, or functionality of this Service as we deem necessary. Consequently, information may be changed, removed, or updated without prior notice to you. Also, disruptions to this Service may occur as a consequence of the need to revise its content, display or functionality, or for other related and/or unrelated reasons. Although we will try to minimize disruptions to this Service, and inform you ahead of any planned disruptions, we do not guarantee that this Service will be available at all times.
11. Personal Information
11.1 To meet our Know Your Customer (“KYC”) and Anti-Money Laundering , Countering the Financing of Terrorism and Proliferation Financing obligations (“AML/CFT/CPF”) obligations, we may require you to provide any or all the following:
11.1.1 your full name;
11.1.2 your date of birth;
11.1.3 your Bank Verification Number (“BVN”);
11.1.4 your current residential address;
11.1.5 your picture;
11.1.6 copy of a valid government-issued ID (national ID, international passport, permanent voter’s card or driver’s licence);
11.1.7 a copy of recent utility bill, bank statement, affidavit, or another bill, dated within three months of our request, which carries your name and address;
11.1.8 any other information or document we may require for our internal risk assessment.
11.2 You warrant that all information and documentation provided to us are true, correct, and accurate. You also undertake to notify us of any changes to the information or documentation which you have provided.
11.3 You hereby agree and authorise Ucee to verify information provided by you against the information held by any third party (including official databases) such as, NIBBS, payment system providers and any other information bank available to Ucee.
11.4 The information that Ucee may verify against the information which you have provided to us include (without limitation): your name, phone number, date of birth, address, age, Identification Number (“ID”) or Passport Number and such other information that will enable Ucee to identify you and comply with the regulatory “Know Your Customer” requirements (together the “Personal Information”).
11.5 You hereby agree and authorise Ucee to collect and verify information including, but not limited to, relevant data on the device with which you access the Service, as shall be required for the purpose of providing you the Services (the “Relevant Information”). In case you are nominating a person as your guarantor, you are also confirming that you have sought approval from the named person for the same, and that they are willing to act as a guarantor for this loan facility.
11.6 You hereby consent to Ucee verifying the Personal Information and the Relevant Information and using the Personal Information and the Relevant Information to the extent necessary in Ucee opinion for the operation of the Account and your Service.
11.7 You hereby agree and authorise Ucee to obtain and procure your Personal Information and Relevant Information from relevant sources (private and official databases) and you further agree and consent to the disclosure and provision of such Personal Information by us or our Third-Party Partners.
11.8 You agree to indemnify and hold Ucee and the Third-Party Partners harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.
11.9 Ucee reserves the right to request for further information from you pertaining to your use of the Service at any time. Failure to provide such information within the time required by Ucee may result in Ucee declining to accept your application for an Account or access to the Service.
11.10 You acknowledge and agree that when Ucee or our third-party service providers access and retrieve information from such third-party Services, Ucee and our third-party service providers are acting as your agent, and not the agent of, or on behalf of the third party.
11.11 You consent to indemnify Ucee against any liability resulting from erroneous transfer.
11.12 You consent that Ucee can deduct funds from your Account when such funds have been established as erroneous or fraudulent in nature.
11.13 You are advised not to give your financial details, such as BVN (Bank Verification Numbers), OTP (One Time Password) and other sensitive financial information to anyone or third party. Ucee will not be liable if such details are compromised.
12. Transacting
12.1 You may access the available funds in your Account at any time. While we make every reasonable attempt to provide the features on the Service as described in our marketing and educational materials, we offer the features and the Service “as is” and without any warranties.
12.2 All payments will be processed in Nigerian local currency i.e. Naira and Kobo.
12.3 Ucee will send you a receipt of all transactions effected from your Ucee Account; this message may be sent via SMS, email, or another available channel.
12.4 Some transactions may require you to input your pre-configured PIN, you are solely responsible for maintaining the confidentiality of your PIN and login details of your Account. You must protect the secrecy of your PIN and login details and prevent fraudulent use of the same.
12.5 As required by the CBN, there are daily limits on your Account. You can increase or reduce these limits by providing Ucee with the required information, subject to the restrictions in applicable CBN rules and regulations and as mandated by the CBN from time to time.
12.6 Your Account will be credited with any deposits made into it, and the credit will be available for transactions immediately after they are cleared.
12.7 We will verify and confirm any record of a deposit into your Account. Our records will be taken as correct unless the contrary is proved.
12.8 In line with applicable regulation, Ucee may classify your Account along KYC levels along with the applicable transaction limits. You may not withdraw, transfer or make any payments that together exceed any of the per transaction or daily limits defined for your category. Should you attempt to exceed any applicable limits, your transactions will be declined.
12.9 Ucee may, acting reasonably and in accordance with regulations set by the Central Bank of Nigeria, vary the limits at any time and any variation will be notified to Customers. Where a deposit exceeding the transaction limit for your category is made to your Account, we will notify you to upgrade your Account to the category that applies to such deposit within seven (7) days. In the event that you fail to upgrade your Account to the required category, we reserve right to place a restriction on your Account until such upgrade to the required category is effected.
12.10 Some transaction limits may be further reduced from the approved CBN limits, this may be done based on channels or particular types of transactions as part of our risk control process.
12.11 You undertake throughout the duration of your use of the Service to comply with anti-fraud and anti-money laundering regulations applicable in Nigeria. In particular, you undertake to respond diligently to any request from Ucee or a regulatory or judicial authority regarding any suspected fraudulent or money laundering activity on your Account.
12.12 Any breach of the anti-fraud and anti-money laundering regulations by you constitutes a serious breach of this Agreement and we reserve the right to immediately suspend or close your Account.
12.13 The proceeds from suspected fraudulent or money laundering transactions shall be kept by Ucee pending an internal decision, or a judicial or administrative decision.
12.14 In processing your transactions, Ucee shall comply with the Money Laundering Prevention and Prohibition Act, 2022 and other applicable laws and regulations.
13. Funding and Transfer out of your Account
13.1 Once you open your Account, you will be assigned a Bank Account Number. The Account number will be required when you or a third party wants to fund your Account. Save for any limits that are applicable to the Account, your Account may be credited by transfers from other Account holders on the Ucee App, through bank transfers to your Account and by cards. Your Account may also be funded by Ucee if your approved loan is disbursed into the Account.
13.2 You may transfer the funds in your Account to other Accounts on the Ucee App, and to any bank Account with a Nigerian bank.
13.3 We may not process your transfer or payment if:
13.3.1 If your Instructions are unclear.
13.3.2 You have insufficient funds.
13.3.3 There is a suspicion of criminal, fraudulent or illegal activity on your Ucee Account.
13.3.4 There is a suspicion of unauthorized access on your Ucee Account.
13.3.5 We (and/or our partners) are legally restricted from completing the transfers.
13.3.6 It goes over your payment limits (where applicable).
13.3.7 Your Account has been dormant for more than 12 months.
13.3.8 We are prohibited or restricted from doing so in accordance with the payment system regulations or any applicable law in Nigeria.
13.4 You are responsible for providing the correct details for the recipient of your transfers or payments. Where payments are made according to your Instructions and those Instructions were wrong, but authorized, we will work with our partners to assist you in retrieving the amount if you notify us promptly. Where we are unable to retrieve the payment, we will assist you with the relevant information in our possession that you may need to reclaim your funds.
13.5 You may be required to set a password/Personal Identification Number (PIN) to carry out transactions using the Account. When you enter your password to confirm a transaction, you confirm that we may treat the transaction as having been authorized.
13.6 Overdrawn amounts from your Account may be treated as a Loan which is immediately due and repayable to us.
13.7 The Customer hereby confirms and agrees that the following terms and conditions shall govern his/her electronic banking transactions with Ucee.
14. Licence Restrictions
You must not:
14.1 use this Service in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with these terms, or act fraudulently or maliciously, for example, by hacking into or inserting malicious code, including viruses, or harmful data, into this Service or any service/system;
14.2 infringe our intellectual property rights or the intellectual property rights of any third party in relation to your use of this Service;
14.3 transmit any material that is defamatory, offensive or otherwise objectionable in relation to your use of this Service;
14.4 use this Service in a way that could damage, disable, overburden, impair or compromise our system or security or interfere with other users; and
14.5 collect or harvest any information or data from any service or our systems or attempt to decipher any transmissions to or from the servers running any service.
15. Prohibited Transactions
15.1 It is strictly forbidden to send or receive payments through this Service as consideration for the sale or supply of illegal, fraudulent, immoral and unethical products and/or services (“Illegal Transactions”).
15.2 We may suspend or terminate your Account at any time or refuse to execute or reverse a transaction if we have reasonable grounds to believe that you directly or indirectly use or have used your Account for or in connection with any Illegal Transaction.
15.3 In addition, we are obligated to report any suspicious activity to the relevant regulatory authority, without prior notice to you.
15.4 If you conduct or attempt to conduct any Illegal Transactions, we reserve the right to reverse the transaction, close or suspend your Ucee Account, report the transaction to the relevant law enforcement agency, claim damages from you, charge you an administration fee in case we apply any of the above.
15.5 YOU HEREBY AGREE TO INDEMNIFY, KEEP INDEMNIFIED AND HOLD HARMLESS, THE INDEMNIFIED PERSONS FROM AND AGAINST ALL LOSSES RESULTING DIRECTLY OR INDIRECTLY FROM THE USE OF YOUR ACCOUNT AND/OR YOUR LOG-IN DETAILS FOR ILLEGAL TRANSACTIONS.
16. Indemnity
16.1 For the avoidance of doubt, except when caused by Ucee’s intentional misconduct or gross negligence as judicially established, the Customer agrees to protect and fully compensate Ucee and its affiliates and service providers from any/and all third party claims, liabilities, damages, expenses and costs (including, but not limited to, legal fees) caused by or arising from the Customer’s use of the service, violation of the terms or infringement, by any other user of the Customer’s Account, or any intellectual property or other right of anyone.
16.2 You agree to process transactions initiated via Ucee app with the sole use of your transaction PIN. You hereby agree to fully indemnify Ucee, its directors, agents, privies, assigns, successors, employees, or any other person whomsoever acting under Ucee’s authority or control against any costs, losses, damages, litigation, action, proceeding, expenses (including Attorney fees), judicial awards of any kind, or any payments of whatsoever nature made, or any cost however incurred, whether directly or indirectly, remotely or otherwise, resulting from Ucee processing such transactions.
16.3 You acknowledge and recognize that your transaction PIN is the last security check for effecting my Transactions on the Ucee platform. You undertake to be fully and solely responsible for all risks that may arise from the Transactions as well or together with all losses which may be suffered by you as a result of any unauthorized transfer of monies or other Transactions in my Account as a result of the use of your transaction PIN on the Service.
16.4 Furthermore, you hereby acknowledge and consent that Ucee would not be liable for any loss, fraudulent or unauthorized transfer of monies, that may occur on your Account as a result of Ucee processing transactions consummated on your Account through the Service or otherwise.
16.5 You hereby irrevocably and unconditionally agree that in addition to any general lien or right to which Ucee may be entitled to by law as bankers, Ucee may at any time and without notice to you combine or consolidate all or any of my/our Accounts without any liabilities to it, and set-off or transfer any sum or sums standing to the credit of any one or more of such Accounts or any other credit, be it cash, cheques, valuables, deposits, securities, negotiable instruments or other assets belonging to you towards the satisfaction of any of your liabilities to Ucee, or of any claim made against Ucee, or loss suffered by Ucee as a result of or pursuant to Ucee processing such Transactions, whether such liabilities be actual or contingent, primary or collateral and several or joint.
16.6 Your obligation herein shall not be reduced by any claim by you against Ucee, its Directors, agents, privies, assigns, successors, employees, or any person whomsoever acting under Ucee’s authority.
16.7 This indemnity shall be continuing obligation in respect of any and all matters connected to or arising from Ucee processing transactions in respect of the Account and or the Service.
17. Liability
17.1 In case of an unauthorized payment or a payment that was incorrectly executed due to an error by us, we shall at your request immediately refund the payment amount including all fees deducted therefrom. This shall not apply:
17.1.1 Where the unauthorized payment arises from your failure to keep the personalized security features of your Ucee Account safe in accordance with this Agreement, in which case you shall remain liable.
17.1.2 if you fail to notify us without undue delay of a loss of your password or any other event that could reasonably be expected to have compromised the security of your Ucee Account after you have gained knowledge of such an event, you shall remain liable for losses incurred up to your notification to us.
17.1.3 If the transaction was unauthorized but you have compromised the security of your Ucee Account with intent or gross negligence, or if you fail to dispute and bring the unauthorized or incorrectly executed transaction to our attention within 2 weeks from the date of the transaction, you shall be solely liable for all losses.
17.2 The foregoing paragraph shall not apply to transactions made after you have notified us in accordance with paragraph 17.1 in which case, we shall remain liable and refund any unauthorized transaction immediately to you.
17.3 Without prejudice to the foregoing, you are asked to check the transactions history of your Ucee Account regularly and frequently and to contact Ucee Customer Service immediately if you have any questions or concerns. Contact may be by email uceecare@uceemfb.com or 0700-00-UC-UC-UC (0700-00-82-82-82).
17.4 In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you with tracing and recovering such payments.
17.5 Subject to the foregoing, we shall not be liable for any disruption or impairment of our Service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond our reasonable control, or the control of the intermediary affected.
17.6 We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.
17.7 Nothing in this Agreement shall operate to exclude liability for death of personal injury due to negligence or for fraud or fraudulent misrepresentation or for statutory liability that cannot be excluded or amended by agreement between us and you.
17.8 The indemnities under this Agreement shall be continuing obligations in respect of any and all matters connected to or arising from Ucee processing such transactions.
18. Limitation of Liability
18.1 No Indemnified Person shall be responsible for any loss suffered by you should the services on this Service be interfered with or be unavailable by reason of the failure of your device, or any other circumstances whatsoever not within Ucee’s control including, without limitation, force majeure, error, interruption, delay or non-availability of the system or network, terrorist or any enemy action, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
18.2 You acknowledge that this Service was not developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of this Service as described meet your requirements.
18.3 We only provide the services on this Service for domestic, private use, and small and medium business financing needs, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity as a result of your use of this Service or the features on this Service.
18.4 No Indemnified Person will be liable to you for any losses or damage suffered by you as a result of or in connection with: (a) any defect or fault in this Service or any service resulting from you having altered or modified this Service; (b) any defect or fault in this Service resulting from you having used this Service in breach of these terms; (c) your breach of any of the licence restrictions; (d) insufficient funds in your Account or the funds in your Account being subject to investigations, lien, legal process or other encumbrance restricting payments or transfers; (e) failure, malfunction, interruption or unavailability of the system, your device, the network or the electronic payment system; (f) your failure to give proper or complete Instructions for payments or transfers relating to your Account; or (g) any fraudulent or illegal use of the services, the system and/or your device.
18.5 If for any reason other than a reason mentioned above the services are interfered with or unavailable, our sole liability in respect thereof shall be to re-establish the services as soon as reasonably practicable. Save as provided in this paragraph, no Indemnified Person shall be liable to you for any interference with or unavailability of the services, howsoever caused.
18.6 FOR THE AVOIDANCE OF DOUBT, IN NO EVENT SHALL ANY INDEMNIFIED PERSON BE LIABLE TO YOU FOR ANY LOSSES WHATSOEVER, INCLUDING, WITHOUT LIMITATION, LOSS OF PROFIT, LOSS OF DATA, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF THE SERVICE, THE SERVICES, CONTENT AND/OR USER INFORMATION, INCLUDING BUT NOT LIMITED TO THE QUALITY, TIMELINESS, SUITABILITY, ACCURACY, OR UTILITY OF THE INFORMATION PROVIDED ON THE SERVICE OR FOR ANY FINANCIAL DECISIONS MADE ON THE BASIS OF SUCH INFORMATION, WHETHER OR NOT THE DAMAGES ARE FORESEEABLE AND WHETHER OR NOT THE INDEMNIFIED PERSON HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND THE SOLE LIABILITY OF ALL INDEMNFIED PERSONS TO YOU SHALL BE AS STATED IN THE PRECEDING PARAGRAPH.
18.7 All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.
18.8 The Customer further agrees that Ucee will not be liable for any act, omission or damage, whether direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to damages for loss of profits, goodwill, or other intangible losses, even if Ucee had been advised of the possibility of such damages, resulting from: (i) the use of, or the inability to use the Service; (ii)the cost of getting substitute service due to the failure of any product, data, messages, or information purchased, obtained, or received from the Service; (iii)unauthorized access to, or alteration, or transmission of data by third-parties; (iv)statements or conduct of anyone on the service; (v) any other matter relating to the Service.
18.9 Under no circumstances will Ucee be liable for any damages, including without limitation: direct, indirect, special, incidental or consequential damages, losses or expenses arising in connection with the use or inability to use this Service by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation, transmission, computer virus or line or system failure, even if Ucee or its representatives thereof are advised of the possibility of such damages or losses.
18.10 Any material downloaded or otherwise obtained through the use of the Service is done at the Customer’s own discretion and risk and Ucee shall not be responsible for any damage to the Customer’s computer system or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by the Customer from the Service will create any warranty not expressly stated in this Agreement.
18.11 Ucee shall not be responsible for any electronic virus or viruses that the Customer may encounter in course of making use of the Service.
19. Statements
19.1 A statement and activity report in respect of your Account will be made available on request.
19.2 The statement on the App shall provide details of your recent transactions in your Account.
19.3 Your statement will show all transactions carried out from your Account. You must check your statement carefully and notify Ucee as soon as possible, and no later than 48 hours after receipt of your statement, if it includes any transaction or other entry which appears to you to be wrong or not made in accordance with your Instructions.
19.4 Ucee, may without notice to you, rectify discrepancies, add or alter the entries in your statement to reflect the accurate position of your transactions.
19.5 Save for a manifest error, a statement issued to you in respect of your Account shall be conclusive evidence of the transactions carried out on your Ucee App for the period covered in the statement.
20. Terms of Loan Obligations
The terms and conditions of each Loan obtained by you in relation to your Account shall be as communicated to and agreed by you from time to time.
21. Data Protection and Customer Consent
21.1 The processing of your data is governed by our Privacy Policy which can be found on our Service. By accepting this Agreement, you also agree to the terms of our Privacy Policy, and other policies displayed on our Service.
21.2 From time to time, you may receive e-mails and other communication from us that will inform you about new product features, events, promotions, special deals and other relevant information concerning your Account and our services. By accepting these terms, you agree to receive such communication. If you do not wish to receive any communication from us, you can opt out at any time by clicking on the “unsubscribe” option from any of our e-mails. Notwithstanding the foregoing, you will not be able to opt out of system, transaction and other critical email notifications from us.
21.3 When you sign up on this Service, you will be required to provide us with your name, email, gender, birth date and other relevant information. We may ask for additional information for security reasons or to enable us provide specific services to you.
21.4 You may change your personal identifiable information provided to us at any time by contacting us or accessing your Account profile on this Service. Some of such information may require verification in line with applicable laws.
21.5 When you use this Service from a device, we may collect information from that device regarding your browser type, location, IP address, and the pages you visit, for security purposes.
21.6 When using the Service on your phone or other device, we may ask for permission to be granted access to certain features including your camera, photo library and fingerprint/facial recognition to enable us complete your onboarding process seamlessly and/or process your transactions. You may manage our access controls on your device as may be required from time to time.
21.7 We are required to retain the details of transactions or payments you make via the Service after the transaction is completed. This information will only be made available to third parties if required by law or to our representatives, professional advisers or to external third-party service providers under strict obligations of confidentiality, for the purpose of enhancing our services to you. We will take all reasonable steps to ensure that your data is treated securely and in accordance with our Data Privacy policy.
21.8 You agree that your personal information, your conversations with our Customer Service representatives and your transactions may be recorded and stored for record keeping purposes for at least five (5) years following closure of your Account with us.
22. Anti-Money Laundering/Countering the Financing of Terrorism/Proliferation Financing
22.1 To comply with relevant AML/CFT/CPF obligations, we may request information on the transactions carried out on your Account including (a) details of the recipient; (b) source of funds being transferred; (c) purpose of the transfer or payment being made. You hereby agree that you will provide all requested information required in respect of each transaction.
22.2 You also agree that we may cancel any transaction, suspend your Account or refuse to open an Account in your name if you refuse to provide the requested information or if any information provided is incorrect, incomplete or inaccurate.
22.3 You understand and agree that for certain transactions, we are required to file certain reports with the regulatory authorities without prior notice to you. These reports may include your personal information, transaction activity, operation or proposed operation of your Account or any other services on this Service.
23. Termination and Suspension
23.1 We may terminate your Account, or any payment service associated with it by giving you prior notice of 21 days in the event of breach of any of the terms set out in this Agreement.
23.2 You may terminate your Ucee Account with us at any time.
23.3 Together with a termination notice or at any time thereafter we may give you reasonable Instructions on how to withdraw remaining funds.
23.4 We may suspend your Ucee Account at any time if we reasonably believe that your Ucee Account has been compromised or for other security reasons. Or if we reasonably suspect your Ucee Account to have been used or is being used without your authorization or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify In addition to termination by default, we may terminate this Agreement at any time and for any reason subject to the requirements of applicable law.
23.5 We can terminate your Account by sending written notice to the address on your application. If there is no debit or credit on this Account for twelve (12) consecutive months, we may terminate your Account without notice to you. When termination arises as a result of default, you will not be able to apply for credit in future.
24. Taxes
24.1 All payments to be made by you in connection with this Agreement or any Services provided to you by Ucee may be calculated without regard to any taxes payable by you or in respect of the Services. If any taxes are payable in connection with the payments, you must ensure that you pay such taxes and that you pay to Ucee such additional amounts as will result in Ucee receiving the full amount it would have received had no such taxes been applicable to the payments.
24.2 You hereby consent and agree that Ucee may withhold amounts in your Account if we are required to do so in accordance with the direction of any tax authority, or Ucee is otherwise required by law or regulation or pursuant to agreements with any tax authority to do so, or if Ucee needs to comply with internal policies or with any applicable order or sanction of a tax authority. You will, however, be notified if such deductions are made.
24.3 All payments to be made by you under this Agreement shall be made in full without any set off or counter claim and save in so far as required by the law to the contrary, free and clear of and without any deduction or withholding whatsoever. If you are at any time required to make any deduction or withholding from any payment to Ucee. You shall immediately pay to Ucee such additional amounts as will result in Ucee receiving the full amount it would have received had no such deduction or withholding been required.
25. Account Security
25.1 It is your duty to keep your security information relating to your Account and the Ucee App secure. Where you suspect that the security of your Account may have been compromised, you are required to inform us as soon as possible. Please change your password and any other security credential immediately. Ucee will not be liable for transactions carried out where access to your Account has been compromised by you, malware or human interference outside of our control.
25.2 You agree to keep your password confidential and will be responsible for all use of your Account and password. We reserve the right to remove, reclaim, or change a username you select if we determine, in our sole discretion, that such username is inappropriate, obscene, or otherwise objectionable.
25.3 You should ensure correctness and accuracy of the information you provide as this will be used in processing your transactions.
25.4 You also agree to avoid using any harmful device that has been exposed to malware such as trojan horses, viruses, worms, harmful components, corrupted data, or malicious software on this Service. We may terminate your use of this Service automatically if you breach these terms.
26. Service Access, Changes and Discontinuation
26.1 Although we will strive to make this Service available and accessible 24 hours every day of the week, we shall not be liable if it becomes unavailable or inaccessible.
26.2 Where there is a system failure, malware, maintenance, upgrade or for reasons beyond our control, access may be suspended provisionally without notice.
26.3 Ucee reserves the right to change or discontinue, temporarily or permanently, the service at any time without notice. In order to maintain the security and integrity of the Service, Ucee may also suspend the Customer’s access to the Service at any time without notice. The Customer agrees that Ucee will not be liable to the Customer or any third party for any modification or discontinuation of the Service.
27. Deposit Insurance Scheme
Funds in your Account are covered under the Nigerian Deposit Insurance Scheme subject to the prevailing limits imposed by the Nigerian Insurance Deposit Corporation.
28. General
28.1 Entire Agreement:
28.1 These terms and conditions, our Data Privacy Policy and our Information Security policies constitute the entire agreement between you and us and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between us, whether written or oral, relating to its subject matter.
28.2 You acknowledge that in entering into this Agreement, you have not relied on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement and the Information Security policies.
28.2 Your Representations and Warranties:
28.2.1 By using this Service, you represent and warrant as follows:
28.2.1.1 All registration information you submit will be true, accurate, current, and complete; and you will maintain the accuracy of such information and promptly update such registration information as necessary;
28.2.1.2 you have the legal capacity, and you agree to comply with the terms of this Agreement;
28.2.1.3 you are not under the age of 18;
28.2.1.4 you are not using the product for money laundering as provided in the Nigerian Money Laundering Prevention and Prohibition Act, 2022;
28.2.1.5 you will not access the Service through automated or non-human means, whether through a bot, script, or otherwise;
28.2.1.6 you will not use the Service for any illegal or unauthorized purpose.
28.2.1.7 your use of the Service will not violate any applicable law or regulation.
28.2.2 If you provide any information that is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your Account and refuse any and all current or future use of the Service (or any portion thereof).
28.3 Governing Law and Dispute Resolution: This Agreement shall be governed by and construed in accordance with Nigerian Law. All disputes and claims arising out of or in relation to this Agreement, which cannot be settled amicably shall be finally resolved by Mediation in accordance with the Rules of the Lagos Multi-Door Court House, subject to a right of action under the law.
28.4 Intellectual Property Rights
28.4.1 We maintain all copyrights and other Intellectual property rights with respect to materials, logos, graphic designs, and other works on this Service.
28.4.2 All materials contained on this Service are our registered/unregistered trademarks; or those of third parties. Please note that being a user on this Service does not grant you the right to use any of the trademarks or intellectual property without our prior written consent and the consent of the owner of the intellectual property, as applicable.
28.5 No Agency:Ucee shall not be considered an agent or legal representative of the Customer or any other party for any purpose by reason of this Agreement. The relationship between Ucee and the Customer shall not be deemed to create any association, partnership, joint venture, or relationship of principal, agent or master and servant, employer or employee between the parties, and nothing contained in this Agreement shall be so construed.
28.6 Severability:In the event that any provision of this Agreement is found to be unenforceable, illegal or invalid by a court of competent jurisdiction, the enforceability, legality and validity of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such unenforceability, illegality or invalidity. If any of these terms is held to be unenforceable, then such provision shall be construed, as nearly as possible, to reflect the intentions of the parties with other provision remaining in full force and effect.
28.7 Amendment and Waiver:This Agreement cannot be amended by the Customer, nor shall any of Ucee’s rights be waived unless Ucee communicates such waiver to the Customer in writing.
28.8 Assignment:This Agreement is personal to the Customer and the Customer may not assign his/her rights and obligations herein to anyone without the prior written consent of Ucee.
28.9 Notices:
28.9.1 If you wish to contact us, or if any condition in this Agreement requires you to give notice to Ucee you may send such communication to us by e-mail to uceecare@uceemfb.com or to such e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by e-mail.
28.9.2 If we have to contact you or give you notice in writing, we may do so by contacting you via your registered contact details and by posting such notice on our Service.
28.10 Headings:The headings in this Agreement have been provided for convenience only and shall not affect the interpretation of the clauses of this Agreement.
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