Terms of Service

1. Who we are

TrustMoni Pay is a product of TrustMoni.com Limited, a company incorporated in Nigeria under the Companies and Allied Matters Act (CAMA) with RC Number 9436204. Our registered address is No. 37 Inyi Street, Mgbowo, Agwu, Enugu, Nigeria.

TrustMoni Pay is not a licensed bank. The account and payment services available through the TrustMoni Pay app are provided through a partnership with a bank or financial institution duly licensed by the Central Bank of Nigeria (CBN). Bill payment and virtual account services are powered by PayVessel, operated by Nex Panther Technologies Limited. Airtime, data, cable TV, electricity, betting, and exam pin purchases are fulfilled through ClubKonnect (Nellobyte Systems).

In these terms, "TrustMoni Pay", "we", "us", and "our" refer to TrustMoni.com Limited. "You" and "your" refer to the individual who opens or holds a TrustMoni Pay account.

2. Who can open an account

To open a TrustMoni Pay account you must meet all of the following at the time of application and keep meeting them for as long as your account is open:

• You are at least 18 years old.
• You are resident in Nigeria.
• You have a valid Bank Verification Number (BVN) that we can verify.
• You are opening the account in your own name and for your own personal use, not on behalf of someone else unless you have notified us in writing.
• You do not already hold another TrustMoni Pay account under any identity, whether your own or anyone else's.
• You are not subject to any court order, regulatory direction, or sanction that would prohibit you from operating a financial account in Nigeria.

We may refuse an application or close an existing account if we find that any of the above conditions are not met, without being required to give a detailed reason beyond what the law requires us to disclose.

3. Account tiers and transaction limits

In line with the CBN's Know Your Customer (KYC) guidelines, TrustMoni Pay operates a tiered account system. The level of identity verification you complete determines your daily transfer limit. This is a regulatory requirement we are bound to follow, not a business choice we can waive.

Your daily transfer limit is the total amount you can send out of your account across all transfers combined within a single day, not a cap on any one transaction alone. A single transfer can use up to whatever remains of your daily limit at the time you send it. Once you reach your limit, further transfers are declined until the next day or until your tier is raised.

If a transfer you attempt would take you over your remaining daily limit, it will be declined at the point of confirmation, and the app will show you how much of your limit remains and how to raise your tier.

4. Opening and managing your account

Providing accurate information

When you apply for an account, everything you submit must be true, accurate, and complete. If anything changes, such as your phone number, email address, or home address, you are responsible for updating your profile in the app. We are not liable for missed transaction alerts or failed notifications caused by contact details you have not kept current.

One account per person

Each person may only hold one TrustMoni Pay account. If we find that someone holds more than one account, we may merge or close the duplicate and restrict access to funds until our review is complete.

Your account number

Once your Tier 1 identity verification is complete, you will be assigned a unique Nigerian account number through our PayVessel-powered virtual account infrastructure. This number can receive transfers from any bank in Nigeria via the NIBSS Instant Payment (NIP) system.

Your transaction PIN

You will set a transaction PIN during onboarding. This PIN is required to approve every outgoing payment, transfer, or bill payment from your account, and to confirm certain other sensitive actions such as changing your PIN or requesting account deletion. Your PIN is stored as a one-way hash, even our own systems cannot read what it actually is. Repeated incorrect attempts will temporarily lock this check. Do not share your PIN with anyone, including anyone claiming to work for TrustMoni Pay. We will never ask for your PIN.

5. Sending and receiving money

Before you confirm a transfer

Before any outgoing transfer is processed, the app will show you a confirmation screen with the recipient's name, bank, account number, and the full amount including any applicable fee. You are responsible for checking these details before confirming with your PIN. Once a transfer has been submitted to the payment switch, it cannot be automatically recalled.

Processing times

Transfers through the NIP system typically complete within seconds. Processing times are not guaranteed and can be longer during periods of high network traffic, system maintenance, or where the receiving bank's systems are temporarily unavailable. We are not responsible for delays caused by the receiving bank or the national payment infrastructure.

Receiving money

Money sent to your TrustMoni Pay account number is credited to your wallet as soon as it clears through the banking system. If a credit appears in your account by mistake and was not genuinely meant for you, you must not spend it. We have the right to reverse it even if doing so takes your balance below zero, and you will be responsible for repaying any shortfall.

Failed transactions

If a transfer you initiate fails or is declined by the receiving bank, the amount is automatically returned to your wallet. If it has not returned within 24 hours, contact us at support@trustmonipay.com with your transaction reference number.

6. Bill payments

TrustMoni Pay lets you pay for a wide range of bills directly from your wallet, including airtime, airtime e-pin, data bundles, data e-pin, electricity, cable TV subscriptions, smile data, betting top-ups, and exam pins where available. These payments are fulfilled through ClubKonnect (Nellobyte Systems). Once a bill payment is confirmed as successful, it cannot be reversed on our side.

Where a bill payment genuinely fails on the biller's side after your wallet has already been debited, the amount is automatically returned to your wallet once this is confirmed. We are not responsible for delays in token delivery or airtime credit caused by the biller or network operator. If your account is debited and the transaction still shows as pending after an extended period, contact us and we will raise a query on your behalf.

7. Fees and charges

We believe you should always know what something costs before you pay for it. Here is how our fees work:

• Account opening: Free. No charge to create a TrustMoni Pay account.
• Wallet funding: Funding your wallet by bank transfer is free. We do not charge when money comes in.
• Transfers to other banks or other TrustMoni Pay users: A transfer fee based on the amount you send may apply. Where VAT applies to that fee under Nigerian tax law, it is calculated on the fee itself, not on the amount you are sending. The exact fee will always be shown on the confirmation screen before you approve. We will never deduct a fee you were not shown first.
• Stamp duty: Where required under the Nigeria Tax Act, a flat stamp duty charge applies to qualifying transfers above a set amount. Unlike the transfer fee, this is not shown on the confirmation screen before you send, since it reflects a government charge rather than our own pricing, but it will always appear as its own line on your receipt and in your transaction history whenever it is charged.
• Bill payments: The price shown for airtime, data, and other bills is the price you pay. Any convenience fee, where one applies, will be displayed before you confirm.
• Inactivity fee: We do not currently charge an inactivity or account maintenance fee. If this ever changes, we will give you at least 30 days' notice before the charge begins.

We reserve the right to introduce or adjust fees at any time, subject to the advance notice requirements in Section 16.

8. Statements and notifications

You can request an account statement for any period up to 12 months directly from the app, under Transaction History. It is sent as an email to your registered address and includes every transaction in that period along with your running balance.

We send transaction alerts, security alerts such as new device logins, and service announcements to your registered email and, where enabled, as push notifications to your device. You can review your recent alerts at any time from the Notifications section of the app. Promotional messages are sent only where you have not opted out, and you can ask us to stop these at any time without affecting transaction or security alerts, which are necessary to operate your account safely.

9. Keeping your account secure

You are responsible for keeping your credentials secure. This means:

• Never sharing your PIN, password, or one-time codes with anyone, including family, friends, or anyone claiming to be TrustMoni Pay staff.
• Keeping your registered phone number and email address secure, since we use them for verification.
• Using the app's biometric login and auto-lock settings if you share your device with others, and logging out when you no longer need access.
• Letting us know immediately if your phone is lost or stolen, or if you suspect unauthorised access to your account. You can view and end active sessions on other devices at any time from Profile.

TrustMoni Pay will never call or message you to ask for your PIN, OTP, or password. Any such contact is a fraud attempt. Do not comply with it, and report it to us at support@trustmonipay.com straight away.

10. Fraud and unauthorized transactions

If you see a transaction in your account that you did not authorise, report it to us as soon as possible at support@trustmonipay.com or through the in-app support chat. Include your account details and the transaction reference.

Where we will help

If an unauthorised transaction resulted from a failure on our side, a technical error, a breach of our own systems, or a processing mistake, we will investigate and refund you if the investigation confirms our fault.

Where recovery may not be possible

If the unauthorised transaction happened because you shared your PIN or OTP with someone, because your unlocked device was accessed by another person, or because you were deceived into approving the transaction yourself, sometimes called social engineering or authorised push payment fraud, we may not be able to reverse it. Under CBN guidelines, liability in these situations depends on whether you took reasonable steps to protect your account credentials.

We will always investigate every complaint fairly and give you a written outcome within 14 working days of receiving your report.

11. Disputes and reversals

Wrong transfer

If you send money to the wrong account by mistake, contact us immediately with the full transaction details. We will submit a recall request to the receiving bank through the NIBSS dispute resolution process. A reversal is not guaranteed, it depends on whether the receiving bank cooperates and whether the funds are still available in the recipient's account. Most recall requests are resolved within 5 to 14 working days.

Disputed bill payments

For bill payments where the service was not delivered, we will raise a formal complaint with our payment partner and give you a reference number. Resolution timelines depend on the biller and are typically 3 to 10 working days.

How to raise a dispute

Email support@trustmonipay.com with the subject line "Transaction Dispute" and include your full name, account number, transaction reference, amount, date, and a brief description of the issue. We will acknowledge your complaint within 24 hours and provide a full written response within 14 working days.

12. Suspension and restriction

When we may restrict your account

We may suspend, restrict, or place a hold on your account or funds without prior notice if:

• We reasonably suspect fraud, money laundering, terrorism financing, or any other financial crime connected to your account.
• We receive a valid court order, regulatory directive, or law enforcement instruction requiring us to act.
• Your account triggers our automated risk monitoring systems due to unusual activity.
• We are unable to verify your identity or the legitimate source of funds in your account.
• You have breached any provision of these terms.

What happens to your money

Where a restriction is not connected to a court order or regulatory hold, your funds remain yours. We will work with you to resolve the concern. If the account is permanently closed and no legal hold applies, we will return your remaining balance to a verified Nigerian bank account in your name within a reasonable time.

13. Closing or deleting your account

You can request deletion of your account at any time from Profile in the app. This is a reviewed process rather than an instant one, for the reasons below.

• Your wallet balance must be at zero before you submit the request. If you still hold a balance, transfer it out first.
• You confirm the request with your transaction PIN.
• Your request is reviewed by our team, which can take a few days. You can cancel a pending request yourself at any time before it is reviewed.
• If approved, your personal identifying information is permanently removed from your account and your login is disabled immediately. You will receive a confirmation once this is complete.
• If declined, we will tell you why, and your account continues exactly as before.

Your transaction records are not deleted as part of this process. CBN and anti-money laundering regulations require us to retain them for a minimum of 5 years regardless of your request, though they are no longer linked to your identity once your request is approved. This is described further in our Privacy Policy.

14. Dormant accounts

An account becomes dormant when there has been no customer-initiated transaction, send, receive, or bill payment, for a continuous period of 12 months.

We will send you a notification by email and, where enabled, push notification, at least 30 days before we classify your account as dormant. A dormant account remains yours. Your money does not disappear. However, some features may be limited until you reactivate by logging in and completing a brief identity re-verification.

In line with the Banks and Other Financial Institutions Act (BOFIA) and CBN guidelines, funds that remain unclaimed in a dormant account beyond the statutory period may need to be remitted to the unclaimed funds pool maintained by the CBN. We will notify you clearly before this happens and explain how to reclaim your funds.

15. Our liability to you

We are committed to running TrustMoni Pay with reasonable care and skill. If something goes wrong on our side, we will do what is fair and reasonable to put it right.

That said, we are not responsible for the following:

• Losses caused by events outside our control, such as NIBSS or interbank network failures, CBN directives, natural disasters, or telecoms outages.
• Losses that resulted from your own actions, such as sharing your PIN, authorising a fraudulent transaction, or entering incorrect beneficiary details.
• Losses caused by the failure of a third-party biller, receiving bank, or payment processor we did not select or control.
• Indirect or consequential losses, for example a business loss you suffered because a transfer was delayed.

Where we are genuinely at fault, our maximum liability for any single incident is capped at the value of the transaction or the balance in your account at the time, whichever is lower, unless a higher amount is required by Nigerian law.

16. Changes to these terms

We may update these terms at any time. If we make a change that affects your rights or increases your obligations, we will notify you by push notification, in-app message, or email at least 30 days before the change takes effect.

For minor updates, a clarification, a corrected cross-reference, or a formatting fix that does not affect your rights, we may update the page without a formal notice, but we will always update the effective date shown at the top.

Continuing to use TrustMoni Pay after a notified change takes effect means you accept the updated terms. If you do not agree, you may close your account before the change takes effect.

17. Things outside our control

We will not be in breach of these terms if we are unable to provide the service, or the service is delayed or degraded, because of circumstances genuinely outside our reasonable control. This includes NIBSS or interbank switch failures, CBN directives requiring us to suspend operations, power outages, cyberattacks on third-party infrastructure, industrial action, natural disasters, and telecommunications network failures.

If a service disruption is expected to last more than two hours, we will notify you as quickly as possible and keep you updated until it is resolved.

18. Governing law and disputes

These terms are governed by the laws of the Federal Republic of Nigeria. Any dispute arising from these terms or from your use of TrustMoni Pay that we cannot resolve through our own complaints process will be subject to the exclusive jurisdiction of the courts of Lagos State, Nigeria, unless another court is expressly required by applicable law.

Before going to court, we ask that you first raise the matter with us directly at support@trustmonipay.com. Most issues are resolved quickly through support. If we cannot reach agreement, you also have the right to escalate to the Consumer Protection Department of the Central Bank of Nigeria.

19. How to reach us

General support: support@trustmonipay.com
Legal and compliance matters: info@trustmonipay.com
Website: www.trustmonipay.com

TrustMoni.com Limited
No. 37 Inyi Street, Mgbowo, Agwu, Enugu, Nigeria
RC Number: 9436204  |  TIN: 2621448890856