Terms of Use · ASHA Microfinance Bank

These terms affect your legal rights. Please read them carefully and treat them with the utmost importance.

Terms and conditions

These Terms and Conditions (“Terms”, “Agreement”) constitute a binding agreement between ASHA Microfinance Bank Limited (“the Bank”, “we”, “us”, or “our”) and you (“User”, “you”, or “your”). This Agreement governs your access to and use of ASHA Microfinance Bank Limited’s Digital Banking platform and all related products, features, content, and services (collectively, the “Digital Banking Services”).

ASHA Microfinance Bank Limited is committed to protecting the privacy and security of personal data entrusted to it. We process personal data in accordance with the Nigeria Data Protection Act 2023 (NDP Act), applicable regulations, directives and guidelines issued by the Nigeria Data Protection Commission (NDPC), and other applicable Nigerian laws and regulatory requirements.

Accounts

You must hold an active account with the Bank to access and use the Digital Banking Services. Digital Banking Services may be accessed through a mobile device that operates on a system supported by the Bank.

To sign in, you will be required to provide your email address, phone number, and any other security credentials we request, or, where available, use biometric authentication. The Bank may update or request changes to your security information periodically. For your protection, your session will automatically terminate if there is no activity for fifteen (15) minutes.

If you create or maintain an account within Digital Banking Services, you are solely responsible for safeguarding your login credentials and for all activities conducted through your account. Any provision of false or misleading contact information may result in immediate suspension or termination of access. You must promptly inform the Bank of any unauthorized access or suspected breach of security. The Bank shall not be responsible for any loss or damage resulting from your failure to comply with these obligations.

Eligibility to use the services

Accounts are available only to individuals who are eighteen (18) years of age or older. You must be at least eighteen (18) years old to open or operate an account with the Bank and to use the Digital Banking Services. Individuals under the age of eighteen (18) may access the Services only under the supervision of a parent or legal guardian, through such person’s account, and subject in all respects to these Terms.

You represent and warrant that you have the legal capacity to enter into a binding agreement with the Bank and are not prohibited from doing so under any applicable law. You further state that all registration or account information provided to the Bank is true, accurate, and complete, and you agree to maintain its accuracy at all times. The Bank shall not be responsible for any loss or damage arising from false, inaccurate, or incomplete information provided by you.

Services

Here’s some information about all the ways you can enjoy the Digital Banking Services:

Open an account with the Bank.
View your account balances.
Transfer money between your accounts to other third-party accounts held with the Bank and other local Banks.
Save money or create investment plans.
Make bill payments e.g. airtime purchase, data subscription, DSTV subscription.
Make loan requests.
View and download account statements.
Savings.
Carry out any other additional services that we may provide in any future update of Digital Banking Services.

Backups

We are not responsible for data residing in Digital Banking Services. In no event shall we be held liable for any loss of any data. It is your sole responsibility to maintain an appropriate backup of your data. Notwithstanding the foregoing, on some occasions and in certain circumstances, with absolutely no obligation, we may be able to restore some or all of your data that has been deleted as of a certain date and time when we may have backed up data for our own purposes. We make no guarantee that the data you need will be available.

Using Digital Banking Services, you consent to receiving electronic communication from the Bank relating to your account. We will communicate with you by email, or by posting notices on Digital Banking Services or through other methods. For contractual purposes, you consent to receiving communications from us electronically and you agree that all agreements, notices, disclosures and other communications that we provide you electronically satisfy any legal requirement that such communication should be in writing.

You also consent to receiving certain other communication from us, such as newsletters, special offers, questionnaires, customer surveys, or other announcements via email or other methods. You may opt out of receiving non-transactional communications, including marketing communications from us by following the directions in our email to “unsubscribe” from our mailing list, or by sending an email request to info@asai-nigeria.com.

Please be aware that if you choose not to receive such communication, certain offers attached to services you have chosen may be affected. We will still communicate with you in connection with transactional communications, including but not limited to servicing your account and customer services.

Suspension of services

The Bank can, at any time, suspend your use of the Digital Banking Services in any of the following situations:

We have concerns about the security of the Digital Banking Services.
We suspect that your Digital Banking Services have been used fraudulently or in an unauthorized way.
There is a significantly increased risk that you will be unable to repay any overdraft on any of your accounts.
There are legal or regulatory obligations we must meet.

We will usually give you advance notice of any suspension and tell you why. However, we will not do so if this compromises our reasonable security measures or it is unlawful to do this. Occasionally, we may not be able to contact you to give you advance notice. If you have entered incorrect log-in details on Digital Banking Services on several occasions, we will suspend your access to Digital Banking Services. If this happens, you can reset your log on details within Digital Banking Services. You can identify yourself and answer our security questions. Otherwise, you will need to contact us at info@asai-nigeria.com or ashamfb@asai-nigeria.com.

Links to other Digital Banking Services

Although Digital Banking Services may be linked to other Software Applications, we are not, directly or indirectly, implying any approval, association, sponsorship, endorsement, or affiliation with any linked Software Application, unless specifically stated herein. We are not responsible for examining or evaluating, and we do not guarantee the offerings of any businesses or individuals or the content of their Software Applications. We do not assume any responsibility or liability for the actions, products, services, and content of any other third parties. You should carefully review the legal statements and other conditions of use of any Software Application which you access through a link from this Digital Banking Services. Your link to any other off-site Software Application is at your own risk.

Service providers

We may employ third-party companies and individuals to facilitate our Service (“Service Providers”), to provide the Service on our behalf, to perform Service-related services or to assist us in analyzing how our Service is used. These third parties have access to your Personal Data only to perform these tasks on our behalf and are obligated not to disclose or use it for any other purpose.

Prohibited uses

In addition to other terms as set forth in the Agreement, you are prohibited from using the Digital Banking Services or its Content:

For any unlawful purpose;
To solicit others to perform or participate in any 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 based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability;
To submit false or misleading information;
To upload or transmit viruses or any other type of malicious code that will or may be used in any way that will affect the functionality or operation of the Service or of any related Digital Banking Services, other Digital Banking Services, or the Internet;
To collect or track the personal information of others;
To spam, phish, pharm, pretext, spider, crawl, or scrape;
For any obscene or immoral purpose; or
To interfere with or circumvent the security features of the Service or any related Digital Banking Services, other Digital Banking Services, or the Internet.

We reserve the right to terminate your use of the Service or any related Software Application for violating any of the prohibited uses.

Intellectual property rights

This Agreement does not transfer to you any intellectual property owned by the Bank or third parties, and all rights, titles, and interests in and to such property will remain (as between the parties) solely with the Bank. All trademarks, service marks, graphics and logos used in connection with our Software Application or Services, are trademarks or registered trademarks of the Bank. Other trademarks, service marks, graphics and logos used in connection with our Software Application or Services may be the trademarks of other third parties. Your use of our Digital Banking Services and Services grants you no right or license to reproduce or otherwise use the Bank or third-party trademarks.

Copyright infringement

All rights reserved. No part of the Digital Banking Services may be copied, reproduced, ripped, recorded, re-engineered, decompiled, disassembled, modified, reproduced, distributed, or transmitted in any form or by any means either electronic or mechanical methods, without the prior written permission of the Bank.

Technology limitations

The Bank will make reasonable efforts to keep the Digital Banking Services operational. However, certain technical difficulties or maintenance may, from time to time, result in temporary interruptions. The Bank reserves the right, periodically and at any time, to modify or discontinue, temporarily or permanently, functions and features of Digital Banking Services, with or without notice, without liability to you for any interruption, modification, or discontinuation of the Digital Banking Services Service or any function or feature thereof. You understand and agree that we have no obligation to maintain, support, upgrade, or update the Service, or provide all or any specific content through the Service.

Limitation of liability

To the fullest extent permitted by applicable law, in no event will the Bank, its affiliates, officers, directors, employees, agents, suppliers or licensors be liable to any person for (a): any indirect, incidental, special, punitive, cover or consequential damages (including, without limitation, damages for lost profits, revenue, sales, goodwill, use or content, impact on business, business interruption, loss of anticipated savings, loss of business opportunity) however caused, under any theory of liability, including, without limitation, contract, tort, warranty, breach of statutory duty, negligence or otherwise, even if the Bank has been advised as to the possibility of such damages or could have foreseen such damages.

Disclaimer warranty

The Digital Banking Services is provided on an “as is” and “as available” basis without warranties of any kind, either expressed or implied, including, but not limited to, the implied warranty of merchantability, fitness for a particular purpose and non-infringement. No warranty is provided that Digital Banking Services will be free from defects or viruses, or operation of the Digital Banking Services will be uninterrupted. Your use of Digital Banking Services and any other material or services downloaded or made available to you through the software is at your own discretion and risk, and you are solely responsible for any damage resulting from their use.

Restrictions

You shall not:

Modify, revise or create any derivative works of Digital Banking Services;
Decompile, reverse engineer or otherwise attempt to derive the source code for Digital Banking Services;
Redistribute, sell, rent, lease, sublicense, or otherwise transfer rights to Digital Banking Services; or
Remove or alter any proprietary notices, legends, symbols or labels in Digital Banking Services, including, but not limited to, any trademark, logo or copyright.

Indemnification

You agree to indemnify and hold the Bank and its affiliates, directors, officers, employees, and agents harmless from and against any liabilities, losses, damages or costs, including reasonable attorneys’ fees, incurred in connection with or arising from any third-party allegations, claims, actions, disputes, or demands asserted against any of them as a result of or relating to your Content, your use of the Digital Banking Services or Services or any willful misconduct on your part.

You agree to indemnify and hold the Bank and the Third-Party Partners harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.

You consent to indemnify the Bank against any liability resulting from Erroneous transfer.

Severability

All rights and restrictions contained in this Agreement may be exercised and shall be applicable and binding only to the extent that they do not violate any applicable laws and are intended to be limited to the extent necessary so that they will not render this Agreement illegal, invalid or unenforceable. If any provision or portion of any provision of this Agreement shall be held to be illegal, invalid or unenforceable by a court of competent jurisdiction, it is the intention of the parties that the remaining provisions or portions thereof shall constitute their agreement with respect to the subject matter hereof, and all such remaining provisions or portions thereof shall remain in full force and effect.

Dispute resolution

The validity, construction and performance of this Agreement shall be governed by the laws of the Federal Republic of Nigeria.

Parties shall use their best endeavors to amicably settle any dispute or difference of opinion arising from or in connection with this Agreement through mutual discussions.

Where the Parties are unable to resolve the dispute through mutual discussions, the dispute or difference of opinion shall be referred to mediation conducted by their legal representatives or financial auditors, where financial matters are involved. Failing which dispute shall finally be referred to arbitration in accordance with the Arbitration and Conciliation Act Cap. A18, Laws of the Federation of Nigeria 2004, or any amendment thereto.

The place of arbitration shall be Lagos State, Nigeria and there shall be a sole arbitrator who shall be appointed jointly by the parties. Where the parties fail to jointly agree on the appointment, they shall approach the Lagos Multi-Door Courthouse to appoint a sole arbitrator who shall be competent to adjudicate the issue in dispute.

The language to be used in the arbitral proceedings shall be English. The arbitral award shall be final and binding between the Parties. The reference of any dispute to arbitration shall not prevent the Parties from seeking any form of protective reliefs/injunctions/specific performance from a court of law via motion or other originating processes for the protection of any res pending the constitution of the Arbitral Panel and/or final award.

Chargebacks

You may be assessed Chargebacks for (i) customer disputes; (ii) unauthorised or improperly authorised transactions; (iii) transactions that do not comply with the terms of this Agreement or are allegedly unlawful or suspicious; or (iv) any reversals for any reason by our processor, or the acquiring or issuing banks. Where a Chargeback occurs, you are immediately liable for all claims, expenses, fines and liabilities we incur arising out of that Chargeback and agree that we may recover these amounts by debiting your Bank Account. Where these amounts are not recoverable through your Bank Account, you agree to pay all such amounts through any other means.

Changes and amendments

We reserve the right to modify this Agreement or its policies relating to the Digital Banking Services or Services at any time, effective upon posting an updated version of this Agreement in the Digital Banking Services. When we do, we will send you an email to notify you. Continued use of the Digital Banking Services after any such changes shall constitute your consent to such changes.

Acceptance of these terms

You acknowledge that you have read this Agreement and agree to all its terms and conditions. By using the Digital Banking Services or its Services you agree to be bound by this Agreement. If you do not agree to abide by the terms of this Agreement, you are not authorized to use or access the Digital Banking Services and its Services.

Contact us

If you have any questions about this Agreement, please contact ASHA Microfinance Bank Limited (RC 851282), a microfinance bank licensed and regulated by the Central Bank of Nigeria, with its registered office at 69 Allen Avenue, Ikeja, Lagos, Nigeria, by email at info@asai-nigeria.com and ashamfb@asai-nigeria.com.

Terms and Conditions of Use