Terms of Service

Last updated: December 2024

1. Acceptance of Terms

By accessing and using KoletMoni's services, you accept and agree to be bound by the terms and provision of this agreement. If you do not agree to abide by the above, please do not use this service.

2. Description of Service

KoletMoni is a digital payment platform that allows users to send and receive money using memorable phrases instead of traditional account numbers. Our services include:

  • Digital wallet services
  • Phrase-based payment system
  • Bank transfers and withdrawals
  • Bill payment services
  • QR code payment options

3. User Eligibility

To use KoletMoni, you must:

  • Be at least 18 years of age
  • Be a resident of Nigeria
  • Provide accurate and complete information
  • Have a valid Nigerian bank account
  • Comply with all applicable laws and regulations

4. Account Registration

When you create an account with us, you must provide information that is accurate, complete, and current at all times. You are responsible for safeguarding the password and all activities that occur under your account.

5. Fees and Charges

Our current fee structure includes:

  • Basic phrase creation: ₦10
  • Phrases with expiry dates: ₦50
  • Recurring phrases: ₦100
  • Premium analytics: ₦200/month
  • Bill payment convenience fee: ₦50 per transaction

Fees are subject to change with 30 days' notice to users.

6. Prohibited Uses

You may not use our service:

  • For any unlawful purpose or to solicit others to perform unlawful acts
  • To violate any international, federal, provincial, or state regulations, rules, laws, or local ordinances
  • To infringe upon or violate our intellectual property rights or the intellectual property rights of others
  • To harass, abuse, insult, harm, defame, slander, disparage, intimidate, or discriminate
  • To submit false or misleading information
  • For money laundering or terrorist financing

7. Transaction Limits

We may impose limits on the amount of money you can send, receive, or withdraw. These limits may vary based on your account verification level and transaction history.

8. Dispute Resolution

If you have a dispute regarding a transaction, you must contact us within 60 days of the transaction date. We will investigate and work to resolve disputes in good faith.

9. Limitation of Liability

KoletMoni shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses.

10. Termination

We may terminate or suspend your account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.

11. Governing Law

These Terms shall be interpreted and governed by the laws of the Federal Republic of Nigeria.

12. Changes to Terms

We reserve the right to modify or replace these Terms at any time. If a revision is material, we will try to provide at least 30 days' notice prior to any new terms taking effect.

13. Contact Information

If you have any questions about these Terms of Service, please contact us: