Terms of Use

4.1. User Responsibilities

• You are solely responsible for maintaining the confidentiality of your account credentials.
• You agree not to use the app for any illegal or unauthorized purposes.
• You agree not to use the app in a manner that violates the rights of others or that could harm the app's functionality.

4.2. Data Collection and Use

• Payswitch collects and stores your personal information.
• Payswitch may also collect your debit card details and bank verification number for the purpose of providing financial services and complying with legal requirements. However, these are not stored on our system.
• We take reasonable measures to protect the security and confidentiality of your data. Please review our Privacy Policy for more details.

4.3. Charges

• There is a 1.5% transaction fee applied on USD transactions.
• There is a 2.5% transaction fee applied on Naira transactions.
• There is a 2.5% cross border charge for USD transactions settled outside the US.
• There is a 0.40 USD charge on failed transactions caused by insufficient fund on your card. - (We recommend funding your card before transacting or setting it to Inactive when not transacting).
• There is a 5% fee for incoming transfers on USD accounts.
• There is a $3 monthly USD account maintenance charge.
• There is a N200/Naira card monthly maintenance charge.
• There is a N100/Naira card quarterly maintenance charge.
• There is a $0.20/USD card monthly maintenance charge.
• There is a $0.10/USD card quarterly maintenance charge.

4.4. Card Termination

• We may terminate your USD card when 3 consecutive failed transactions occur on your card due to insufficient fund.

5.1. Disclaimer - User Responsibility and Fraudulent Activity

• Payswitch is a financial technology platform that provides digital financial services to its users. By using our services, you agree and acknowledge that you are solely responsible for all activities conducted through your account.

  Payswitch will not be held liable or responsible for any fraudulent, illegal, or unauthorized activity carried out by any user on the platform. It is the full responsibility of each user to ensure that their actions comply with applicable laws, regulations, and the terms of use governing our services.

  Users found engaging in fraudulent activities may have their access to Payswitch permanently restricted, and such actions may be reported to relevant authorities. Payswitch reserves the right to cooperate with law enforcement and regulatory bodies in any investigations related to misuse of our platform.

  By continuing to use Payswitch, you confirm that you understand and accept this disclaimer and agree to use the platform lawfully and responsibly at all times.

• Payswitch provides financial services for transactional purposes only.
• We do not guarantee that transactional charges will forever remain the same.

5.2. Third-Party Services

• The app may integrate with third-party financial institutions or services. Your use of these services is subject to their terms and policies.