Terms of Service

1. Eligibility Requirements

To use FEECENT Services, you must:

• Be at least 18 years of age
• Have legal capacity to enter into a binding agreement
• Provide accurate, complete, and current registration information
• Not be located in a restricted jurisdiction
• Not be listed on any government sanctions list

2. Account Registration

You must provide:

• Full legal name
• Valid email address
• Phone number
• Government-issued identification (for verification)
• Proof of address (for enhanced verification)

You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.

3. Verification & KYC

As a regulated payment service provider, we are required to collect, verify, and maintain certain information about our users under Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) regulations. This includes:

• Identity verification using government-issued ID
• Address verification
• Source of funds verification for large transactions
• Ongoing transaction monitoring

1. Services Provided

FEECENT is a bill payment and money transfer app. Through FEECENT, you can access:

• Bill Payments: Pay utility bills, airtime, data, and other services
• Money Transfers: Domestic fund transfers, facilitated by our licensed payment technology partner
• Digital Wallet & Virtual Account: Store and manage funds, and receive money via a virtual account number issued and maintained by our licensed payment technology partner

FEECENT does not itself hold, custody, or lend customer funds. Wallet balances and virtual account funds are held with our licensed payment technology partner and its underlying licensed financial institutions.

2. Transaction Limits

Transaction limits apply based on verification level:

3. Fees & Charges

Our fee structure is transparent and disclosed before each transaction:

• Domestic Transfers: Applicable NIP and third-party processing fees may apply.
• Bill Payments: Fees may vary by service and provider.

All fees are displayed before you confirm a transaction. We may adjust fees with 30 days' notice.

FEECENT is not a bank, deposit-taking institution, or licensed payment service provider in its own right. To offer wallet funding, virtual account, and money transfer services, we work with a duly licensed payment technology partner regulated by the Central Bank of Nigeria (CBN). Your funds are held in pooled/trust accounts maintained by our partner and its underlying licensed financial institutions, and all transactions on FEECENT are processed through our partner's regulated payment infrastructure.

This means that while FEECENT provides the app, customer experience, and support you interact with, the movement and safekeeping of your money is carried out under the license and regulatory supervision of our partner institution. Details of our current partner can be provided on request or are disclosed within the app.

1. Your Responsibilities

You are responsible for:

• Keeping your login credentials confidential
• Enabling two-factor authentication (2FA)
• Using strong, unique passwords
• Not sharing OTP codes with anyone
• Immediately reporting unauthorized transactions

2. Our Security Measures

We implement industry-standard security measures including:

• 256-bit encryption for all data transmission
• Biometric authentication options
• Real-time fraud monitoring
• PCI DSS compliant card processing
• Regular security audits and penetration testing

1. Suspension

We may suspend your account immediately if:

• We suspect fraudulent activity
• We receive a legal request from authorities
• You violate these Terms
• Your account shows unusual activity patterns

2. Termination

You may close your account at any time after:

• Withdrawing all funds
• Settling all outstanding fees
• Completing any pending transactions

We may terminate your account for repeated violations or severe breaches of these Terms.

1. Limitation of Liability

To the maximum extent permitted by law, FEECENT shall not be liable for:

• Indirect, incidental, or consequential damages
• Loss of profits or business opportunities
• Damages from unauthorized account access (unless caused by our negligence)
• Third-party service interruptions

2. Our Liability Cap

Our total liability to you for any claim arising from these Terms is limited to the amount of fees paid by you in the preceding 12 months or ₦500,000, whichever is lower.

3. No Warranty

THE SERVICE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE.

1. Informal Resolution

Before initiating any legal proceeding, you agree to contact our support team at legal@feecent.online to resolve disputes informally. We will work in good faith to resolve your concerns.

2. Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes shall be subject to the exclusive jurisdiction of the courts of Lagos State, Nigeria.

3. Arbitration

Disputes not resolved informally shall be settled by binding arbitration under the Lagos Court of Arbitration Rules. The arbitration shall be conducted in English in Lagos, Nigeria.