1. Introduction
Acceptance of Terms. By accessing or using the FinoQ app, website or services (the “Services”), you agree to be bound by these Terms and Conditions (the “Terms”). These Terms apply to all users regardless of location. The laws of Kenya govern these Terms, together with any mandatory local laws where FinoQ offers the Services.
Amendments. FinoQ Africa (“FinoQ”, “we”, “us”) may modify these Terms at any time. Changes take effect when posted, and material changes will be notified in the app or by email. Continued use of the Services after posting means you accept the revised Terms.
2. User Registration and Account Management
Account Eligibility. You must be at least 18 years old, or the age of majority in your jurisdiction, to register. You confirm that you are legally capable of entering into binding contracts.
Account Security. You are responsible for keeping your login credentials and PIN confidential and for all activity under your account. Notify us immediately at info@finoq.africa of any unauthorised access or security breach.
KYC Compliance. In line with Kenyan financial regulations and AML laws, you must provide accurate Know-Your-Customer (KYC) information and documents. You may need to complete KYC verification before you can transact.
Wallets, Sub-Wallets and Partner Accounts. Your wallet, and any sub-wallets, are provided and held by licensed partner banks and Fintech-as-a-Service (FaaS) providers. FinoQ does not hold your funds. You open these partner-managed wallets through FinoQ, and FinoQ integrates with the partners so you can use them, and move money, from one app. By registering, you authorise FinoQ to share your registration and KYC details with these partners so they can open a bank account, sub-account or sub-wallet in your name or for your benefit. These partners may apply their own checks and terms, which we will make available to you. If you do not give this authorisation, we cannot open a wallet for you. Details are in our Privacy Policy.
3. Financial Transactions
Fees and Charges. A detailed Fee Schedule is provided in the app. We will give notice before introducing or changing fees.
Refunds and Cancellations. Refund and cancellation policies follow Kenyan consumer protection laws. Completed transfers to a correct recipient generally cannot be reversed.
Transaction Limits. We and our partner institutions may set transaction and balance limits to comply with Anti-Money Laundering (AML), counter-terrorism financing and Central Bank of Kenya requirements. Limits may depend on your KYC level.
4. User Conduct
Compliance with Laws. You agree to comply with all applicable laws, especially those on AML, counter-terrorism financing and sanctions.
Prohibited Use. You must not use the Services for any unlawful, fraudulent or unauthorised purpose, or provide false information. Any violation may lead to immediate suspension or termination of your account and reporting to the relevant authorities.
5. Privacy and Data Protection
We collect, use and store personal data in accordance with the Kenya Data Protection Act, 2019. This includes sharing your details with licensed partner banks and FaaS providers to open accounts and sub-wallets for you, as described in Section 2. Please refer to our Privacy Policy for full details.
6. Termination and Suspension
Rights of FinoQ. We may suspend or terminate any account for non-compliance with these Terms or for other lawful reasons, such as suspected fraud, illegal activity or a request from a regulator or partner institution.
User’s Right to Terminate. You may close your account at any time, provided all pending transactions and obligations are settled. Any remaining balance, held by the partner institution, will be returned to you, less applicable fees, through a verified withdrawal channel.
7. Limitation of Liability
To the fullest extent permitted by Kenyan law, FinoQ shall not be liable for any indirect, incidental or consequential damages, including loss of profits, revenue or data. As your funds are held by partner institutions, FinoQ is not liable for delays or failures caused by partner institutions, mobile networks or events beyond its reasonable control.
8. Dispute Resolution
Governing Law. These Terms are governed by the laws of Kenya.
Dispute Resolution. Please raise any complaint with us first at info@finoq.africa. Any dispute arising out of or in connection with these Terms that cannot be resolved amicably shall be subject to the exclusive jurisdiction of the courts of Nairobi, Kenya, without affecting your right to complain to a regulator.
9. General Provisions
Severability. If any part of these Terms is found unenforceable, the remaining provisions remain in full force.
Entire Agreement. These Terms, together with our Privacy Policy and Fee Schedule, form the entire agreement between FinoQ and its users and supersede any prior agreements or communications.
Effective Date. These Terms are effective upon posting. Continued use of the Services signifies acceptance.
10. Contact
For questions about these Terms, email us at info@finoq.africa.