You can open a SPEN Wallet/account with us on the condition that you meet our technology requirements defined above and have not yet opened an account with us. We do not knowingly engage with people who don’t meet these conditions.

When you choose to open an account, you agree that we will be using your information to make and receive payments as well as perform other financial services on your behalf through your SPEN Account. If you would like us to stop doing this, we would have to close your account.

Financial Services regulations require us to verify your identity before we can open an account for you. When you sign up to SPEN, you provide details such as your name, date of birth, gender, email, phone number, photograph, address, valid identification (international passport, permanent voters card, driver’s license, National identity card) and Bank Verification Number). We will only use this information in strict accordance with the law. Please note that it is not possible to open an account if you don’t provide your personal data.

In line with regulations, we perform due diligence on all accounts so it is your responsibility to keep your mailing address, email address, physical address and other contact information up-to-date in your profile.

English will be the primary language of our communication to you. We may use emojis or colloquialisms, but we will always communicate in English.

If you have any questions about your relationship with SPEN, you can contact us via email using the details below:Email: hello@mySPEN.io

By opening an account with us, you consent to receiving text (SMS), email, and push notifications from us. These notifications are meant for your consumption only and we will not be held liable if you suffer any loss, or damage as a result of unauthorized access to the information sent.

In addition, by opening this account, you agree to opt out of mandatory SMS alerts directed by the CBN in favor of push notifications. You agree to indemnify SPEN against all losses, damages, claims, demands and expenses whatsoever which may be incurred, imposed or suffered by SPEN as well as against all actions, proceedings or claims (including attorney' fees) whether civil or criminal, which may be brought against SPEN by reason of such notifications.

With the SPEN Wallet, you will be able to fund your account via bank transfers, via a stored card, and other upcoming channels. You will be able to pay bills, make instant transfers locally and globally, and manage your SPEN card. These activities are subject to various transaction limits based on your KYC level in line with regulatory requirements.

By opening an account with us, you consent to receiving text When we issue you a card, it must be used for only lawful transactions. The card will have an expiry date and is valid until the last day of the month shown on the card. Your card will be auto renewed upon expiration, unless your account is closed or the card is revoked.

The PIN issued with your card enables you to carry out transactions such as withdrawals and purchases from ATMs, Point of Sale terminals and Web/Online platforms.

To protect your money, we need you to keep your card, phone and PIN safe at all times. If you lose your card or spot any suspicious transactions on your account, please freeze your card and inform us as soon as possible. You are responsible for maintaining the security and confidentiality of your passwords, PINs, or any other identifier that you use to access your bank account and our services. Use a strong password and a unique code as your transaction PIN and limit its use to your SPEN account. Do not allow anyone to have or use your password or transaction PIN details. If you share these details, we cannot and will not be liable for any loss or damage arising from your failure to comply.

You can close your account at any time and at no cost. If you’d like to do this, please get in touch with us. You will, however, remain liable for any obligations related to your account with us. Once the account is closed, you will not be able to access any SPEN services.

You can close your account at any time and at no cost. If you’d like to do this, please get in touch with us. You will, however, remain liable for any obligations related to your account with us. Once the account is closed, you will not be able to access any SPEN services.

We reserve the right to close, suspend, freeze or limit access to your account, if:

The information we obtain from you does not comply with regulatory requirements.
You do not meet, or are in breach of, the terms and conditions contained herein.
You create risk or possible legal exposure to us;
We are required to do so by law; or There is a report of, or
our investigations reveal that you have engaged in, fraudulent or suspicious activity with your SPEN account.

Please note that the list above is not exhaustive.

As a service provider, in active partnerships with financial institutions and financial service providers in Nigeria, we are also required to comply with the international sanction laws and regulations issued by the United States of America’s Office of Foreign Assets Control (OFAC), European Union (EU), United Nations (UN), the United Kingdom’s Treasury (HMT) ,as well as Nigerian laws and regulations applicable to issuing banks, including those issued by the Central Bank of Nigeria. Therefore, we reserve the right to terminate your account without incurring any liability. We are also under no obligation to make any payment under, or otherwise to open this account if you violate any OFAC, EU, UN and HTM sanctions or there is involvement by any person (natural, corporate or governmental) listed in the OFAC, EU, UN, HMT or local sanctions lists, or any involvement by or nexus with Cuba, Sudan, North Korea, Iran or Myanmar or such other countries as may be included from time to time in the sanctions list, or any of their governmental agencies.

In addition, SPEN is required to comply with all extant laws, including the rules, regulations, guidelines, circulars and letters issued by the regulatory bodies from time to time. In compliance with the applicable laws. Consequently, SPEN does not facilitate payments for crypto currency transactions and other related transactions in Nigeria. You, therefore, confirm that you will not use your SPEN account to deal in, trade, transact or receive any payments relating to virtual currencies in Nigeria.

By opening this account, you consent to us processing your personal information:

• • to provide products and services to you in terms of this agreement and any other products and services for which you may apply;
• • to carry out statistical and other analyses to identify potential markets and trends, evaluate and improve our business (this includes improving existing and developing new products and services);
• • In countries outside Nigeria where the products or services are being used and where such countries do not have the same data protection laws as applicable in Nigeria, we will, where possible, ask the receiving party to agree to our privacy policies.

We may also use your personal or other information to share information with you on new products and services that may be of interest to you. By opening an account with us, you consent to us sending you updates about the SPEN product. You can unsubscribe from our newsletter using the link provided for the purpose in each newsletter we send.

• • Bank Verification Number (BVN) Operations and Watch-List for the Nigerian Banking Industry
• • You consent to us applying restrictions on your account and reporting to law enforcement agencies, including the Economic and Financial Crimes Commission, the Nigerian Financial Intelligence Unit, the Nigerian Police Force, e.t.c., if a fraudulent activity is associated with the operation of your account.
• • You consent to us reporting to Nigeria Inter-Bank Settlement Systems Plc (NIBBS) for update on the Watchlist Database of the Nigerian Banking Industry and the CBN if a fraudulent activity is associated with the operation of your account.