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Terms of Service

Last updated:

These terms reflect the relationship we intend to have with users. They will be reviewed by counsel before launch. Treat the exact wording as provisional until then.

1. The service

Kolet is a software interface to licensed Nigerian wallet providers, accessed through WhatsApp. We do not hold your funds. Your wallet provider does.

2. Eligibility

You must be at least 18 years old and a Nigerian resident with a valid BVN or NIN to open an account. You must use the service only for lawful purposes.

3. Your account

Your WhatsApp phone number is your account identifier. Keep your WhatsApp account secure. Anyone with access to it can initiate actions in Kolet. Set a strong PIN inside the bot; do not share it.

4. Transactions

  • All transactions you initiate are final once your wallet provider confirms them.
  • Transaction limits apply per your KYC tier and your wallet provider's policies.
  • If a transaction fails after we have confirmed it to you, we will refund any debit to your wallet via your wallet provider within their stated timelines.
  • Recipient details (account number, bank, phone) are your responsibility. We display recipient names where the provider gives them to us, but we cannot guarantee accuracy.

5. Fees

Where we charge a fee for a transaction, it will be shown clearly in the chat before you confirm. Your wallet provider may also charge their own fees, which we will display alongside ours.

6. Suspending or closing accounts

We may suspend or close your account if you violate these terms, attempt fraud, or if we are required to do so by your wallet provider, a regulator, or law enforcement. You may close your account at any time by contacting support.

7. Disclaimers

The service is provided as is. We work hard to keep it reliable, but we cannot guarantee uninterrupted availability. WhatsApp, your wallet provider, mobile networks, and electricity grids are all dependencies we do not control. We are not liable for losses arising from outages of those services, mistyped recipient details, or compromised WhatsApp accounts you control.

8. Governing law

These terms are governed by the laws of the Federal Republic of Nigeria. Any dispute will be resolved in the courts of Lagos State.

9. Changes to these terms

If we change these terms materially, we will notify you via WhatsApp at least 14 days before the change takes effect, unless required by law or your wallet provider sooner.