MOBILE APPLICATION TERMS AND CONDITIONS AGREEMENT
1. Introduction
By using the mobile banking platform of Rockshield Microfinance Bank (hereinafter referred to as “the Bank”), you agree to the following terms and conditions. Your use of the Bank’s services via the mobile banking platform constitutes your acceptance of these terms. Kindly note that some of the services may not be available at all times.
2. Acceptance
Your access to and use of Rockshield Microfinance Bank’s mobile banking platform and services constitutes your acceptance of and compliance with this Agreement. If you do not agree to any of these terms, please do not make use the Bank’s App and its services. Further, this agreement is in parri material with the Bank’s Privacy Policy.
3. Indemnification
You hereby consent to fully indemnify Rockshield Microfinance Bank, its directors, agents, privies, assigns, successors, employees, or any other person acting under the Bank’s authority or control against any claim, demand, costs, losses, damages, litigation, actions, proceedings, expenses (including attorney’s fees), judicial awards, or any payments of any nature made or incurred, whether directly or indirectly, as a result of the Bank processing such transactions arising out of violation of any law or the terms and conditions contained in or incorporated into this agreement.
This indemnity is a continuing obligation for all matters connected to or arising from the Bank processing transactions. Your obligation under this indemnity shall not be reduced by any claim you have against the Bank or any person acting under the Bank’s authority.
4. Security of PIN
You acknowledge that your PIN is a crucial security check for effecting transactions on the Bank’s mobile banking platform. You are fully responsible for all risks and losses arising from transactions, including unauthorized transfers of money or other transactions resulting from the use of your PIN. Your PIN or token will serve as the default authentication
method if your preferred authentication method fails. Similarly, your password will serve as the default authentication method for login if your preferred method fails.
5. Limitation of Bank’s Liability
You acknowledge and agree that the Bank is not liable for any loss, fraudulent activity, or unauthorized access or transfer of money resulting from the Bank processing transactions on your account through the Bank’s mobile banking platform.
6. Right of Set-off
You irrevocably and unconditionally agree that the Bank may, without notice, combine or consolidate all or any of your deposits and accounts with the Bank, and set off or transfer any sums standing to the credit of such accounts in satisfaction of any claim made against the Bank or loss suffered by the Bank as a result of processing transactions.
7. Governing Law and Dispute Resolution
The terms and conditions in this agreement shall be governed by, construed and enforced in accordance with the laws of the Federal Republic of Nigeria.
Dispute arising from this terms shall be settled amicably and such which cannot be resolved amicably after 14 (Fourteen) days shall be referred to Arbitration in accordance with the provisions of the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria 2004. The dispute shall be resolved by one arbitrator jointly appointed by parties and the cost of arbitration shall be borne by parties in equal proportion.
8. Information Collection from Your Phone
The Bank reserves the right to obtain your location information via your mobile device for initiating money transfers or related purposes.
The Bank will only use your location information upon initiation of the ‘Near Me’ feature and will not collect it in the background. You may restrict location access at any time.
For more information on data collection, use, and sharing, please refer to the Bank’s Privacy Policy.
9. Inter-Bank Transfers
In consideration of the Bank processing inter-bank transactions above the Central Bank of Nigeria’s approved limit, you hereby fully indemnify the Bank, its directors, agents, privies, assigns, successors, employees, or any other person acting under the Bank’s authority or control against any costs, losses, damages, litigation, actions, proceedings, expenses (including attorney’s fees), judicial awards, or any payments of any nature made or incurred, whether directly or indirectly, as a result of the Bank processing such transactions.
This indemnity is a continuing obligation and remains in full force until the Bank issues a letter discharging you from your obligations herein.
This indemnity shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
10. Other Terms and Conditions
i. Service Charges
ii. Service Hours
iii. Business Days
iv. Disclosure of Account Information
The Bank may disclose your account information on request to any governmental or other regulatory authority, or by a court order or other authority of competent jurisdiction.
v. Cancellation/ Termination
This terms and condition agreement remain in effect until it is either terminated by you or the Bank. However, you may decide to cancel one or more services being enjoyed but this intent has to be communicated in written to the bank. This cancellation only terminates services rendered and not other liabilities or obligations for example running loans etc.
vi. Review
This agreement is not static but subject to review as the need arises.
vii. Force Majeure
The bank will not be held responsible for any acts or actions causing delay or failure of the Mobile Application to function as expected resulting from actions
beyond its reasonable control including but not limited to, acts of God, war, any form of unrest.
viii. Questions, complaints or claim
Where any of the above arises with the services kindly contact our customer service unit and we will do our best to address your concerns.
Contact details:
E-mail: iCare@rockshieldmfb.com
Landline: 07072836623
11. Conclusion
Your use of Rockshield Microfinance Bank’s mobile banking platform constitutes your agreement to these terms and conditions. If you do not agree to any of these terms, please do not use the Bank’s services.
