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Maigatari MFB Terms of Services

Welcome to Maigatari MFB, powered by Viscount Microfinance Bank (“us“, “we“, or “our“). These Terms of Service (“Terms“) govern your use of our mobile banking and utility payment services (the “Service“). By using the Service, you agree to be bound by these Terms.

By accessing or using the Service, you agree to be bound by these Terms. If you disagree with any part of the terms, then you may not access the Service.

1. Service Description

Maigatari MFB is a WhatsApp-based banking platform that provides instant money transfers, bill payments, airtime purchases, data subscriptions, and utility payments through conversational AI. Our services include traditional bank transfers, mobile money transactions, and our innovative Snap & Pay feature for photo-based transfers.

We operate under the authorization of Viscount Microfinance Bank and comply with all Central Bank of Nigeria (CBN) regulations. We reserve the right to modify, suspend, or discontinue any part of our services at any time, with appropriate notice to users.

2. Account Registration & WhatsApp Access

To use Maigatari MFB services, you must have a valid WhatsApp account and Nigerian phone number. You agree to:

  • Provide accurate personal information including full name, phone number, and BVN when required
  • Verify your identity through our CBN-compliant Know Your Customer (KYC) process
  • Keep your WhatsApp account secure and not share access with unauthorized persons
  • Notify us immediately if your phone is lost, stolen, or compromised
  • Maintain an active WhatsApp account as it is essential for service delivery

3. Financial Transactions & Banking Services

When using Maigatari MFB for financial services, you understand and agree that:

  • All transactions require your explicit confirmation via WhatsApp before processing
  • Transaction fees are clearly displayed before confirmation and may vary by service type
  • Daily and monthly transaction limits apply based on your verification level and CBN regulations
  • Money transfers are processed through licensed Nigerian banks and are subject to banking hours
  • Bill payments and airtime purchases are final once processed and cannot be reversed
  • You are responsible for ensuring recipient details are accurate before confirming transfers
  • Failed transactions will be refunded according to our refund policy, typically within 24-48 hours

4. User Conduct & Prohibited Activities

When using Maigatari MFB, you agree not to:

  • Use the service for money laundering, fraud, or any illegal financial activities
  • Attempt to bypass transaction limits or security measures
  • Send spam messages or abuse our WhatsApp support channels
  • Share your account with third parties or create multiple accounts
  • Use the service for gambling, adult content payments, or other restricted activities
  • Attempt to reverse engineer our AI system or extract proprietary algorithms
  • Provide false information during KYC verification or transaction processing
  • Use the Snap & Pay feature for unauthorized capture of others’ financial information

5. Intellectual Property & AI Technology

All Maigatari MFB technology, including our conversational AI, Snap & Pay image recognition, and WhatsApp integration systems are owned by Viscount Microfinance Bank and protected by intellectual property laws. You may not:

  • Copy, reproduce, or reverse engineer our AI conversation algorithms
  • Extract or attempt to replicate our banking workflow automation
  • Use our brand name, logo, or service names without written permission
  • Create competing services using our methodologies or user interface designs
  • Access our systems through unauthorized means or automated tools

6. Limitation of Liability & Risk Disclosure

While we maintain high security standards, Maigatari MFB and Viscount Microfinance Bank are not liable for:

  • Losses resulting from your failure to secure your WhatsApp account or phone
  • Transaction delays caused by third-party banks or network providers
  • Service interruptions due to WhatsApp outages or maintenance
  • Indirect damages including loss of business or profits
  • Issues arising from recipient bank policies or account restrictions
  • Losses from transactions you authorized, even if later disputed

Our liability is limited to the amount of the specific transaction in question, not exceeding ₦100,000 per incident.

7. Account Suspension & Termination

We may suspend or terminate your Maigatari MFB access immediately for:

  • Violation of these Terms of Service or our acceptable use policies
  • Suspected fraudulent activity or unauthorized account access
  • Failure to complete KYC verification within required timeframes
  • Multiple failed transaction attempts or suspicious transaction patterns
  • Non-compliance with CBN regulations or anti-money laundering requirements
  • Use of the service for prohibited activities or business purposes
  • Extended inactivity or inability to reach you through registered WhatsApp number

Upon termination, any pending transactions will be completed or reversed according to applicable banking regulations.

8. Dispute Resolution & Customer Support

For transaction disputes or service issues:

  • Contact our WhatsApp support immediately with transaction details
  • Provide necessary documentation within 48 hours of the disputed transaction
  • Allow up to 5 business days for investigation and resolution
  • Unresolved disputes will be handled through arbitration under Nigerian law
  • You agree to attempt resolution through our internal process before external legal action

All legal matters are subject to the jurisdiction of Nigerian courts and governed by Nigerian banking laws.

9. Terms Updates & Service Changes

We may update these Terms to reflect new services, regulatory changes, or operational improvements. Changes will be communicated through:

  • WhatsApp notification to all active users at least 30 days before implementation
  • Updated terms posted on our website with clear change notifications
  • In-chat announcements for significant policy modifications

Continued use of Maigatari MFB after the effective date constitutes acceptance of updated terms. If you disagree with changes, you may terminate your account before the effective date.

10. Contact Information & Support

For questions about these Terms or Maigatari MFB services, contact us:

Maigatari MFB Support
WhatsApp: Send message to our official Maigatari MFB number
Email: support@maigatarimfb.ng
Legal Inquiries: legal@miagatarimfb.ng

Business Hours: Monday – Friday, 8:00 AM – 6:00 PM (WAT)
Emergency Support: Available 24/7 through WhatsApp for urgent issues