Wallet & Funding

6.1 Wallet Overview

Your Account includes an NGN Wallet and a USD Wallet. The Wallet is a digital record of funds available for use within the Platform. It is not a bank account and does not earn interest. Funds held in the Wallet are not deposits within the meaning of the Banks and Other Financial Institutions Act (BOFIA) 2020.

6.2 Funding Your Wallet

You may fund your NGN Wallet via debit card or bank transfer through our payment processing partner, Paystack. All funding transactions are subject to successful processing by Paystack and your issuing bank. We are not responsible for delays, failures, or errors caused by your bank, card network, or Paystack.

6.3 Wallet Limits

Transaction and balance limits may apply to your Wallet based on your KYC verification tier and applicable CBN regulations. We may adjust these limits at any time to comply with regulatory requirements.

6.4 Wallet Balance Responsibility

    You are solely responsible for maintaining a sufficient wallet balance to cover upcoming bill payments, subscription renewals, and any associated fees. If your wallet balance is insufficient, the payment will fail and your service with the third-party provider may be interrupted or cancelled. We bear no liability for service interruptions caused by insufficient wallet funds.
  

Currency Conversion

13.1 Exchange Rates

Currency conversion between NGN and USD is performed at market rates. The exchange rate displayed at the time you confirm a transaction is the rate that will be applied. Exchange rates fluctuate constantly; the rate at which a transaction is processed may differ from the rate at the time you initiated the transaction if there is a delay in processing.

13.2 Exchange Rate Risk

    You bear all risk associated with currency exchange rate fluctuations. Subsecute does not guarantee any particular exchange rate and is not liable for any loss arising from unfavourable rate movements between the time a transaction is initiated and when it is settled.
  

13.3 Regulatory Compliance

All currency conversion transactions are conducted in compliance with applicable CBN foreign exchange regulations. We reserve the right to refuse or delay any conversion that we reasonably believe may violate applicable regulations.

Withdrawals & Refunds

14.1 Withdrawals

You may withdraw funds from your NGN Wallet to a bank account saved in your Account profile. Withdrawals are processed through our payment partners and are subject to standard banking processing times. We may impose daily or per-transaction withdrawal limits.

14.2 Withdrawal Verification

For security purposes, we may require additional verification before processing withdrawals, particularly for large amounts or unusual activity patterns.

14.3 Refund Policy

Refunds for failed transactions (where funds were deducted but the service was not delivered) will be credited to your Wallet. Refund processing times depend on the nature of the failure and any third-party involvement. Refunds to your original payment method (bank account or card) are not available; all refunds are credited to your Subsecute Wallet. Where you have closed or are closing your Account, or where the refund amount exceeds NGN 10,000, you may request a refund to your original payment method, subject to standard processing times.

14.4 Transaction Reversals

Where a transaction fails and funds have been debited from your Wallet, the reversal will be processed within twenty-four (24) hours for on-platform transactions and within five (5) business days for transactions involving third-party providers.

14.5 Chargebacks

If you initiate a chargeback or payment dispute with your bank for a transaction used to fund your Wallet, we reserve the right to immediately suspend your Account, freeze your Wallet balance, and deduct the disputed amount. Fraudulent chargebacks may result in permanent termination of your Account and referral to law enforcement authorities.

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