Terms of Service

Your account

You need to be 18 or over and give accurate information. Your PIN is yours to keep — anything done with it is treated as done by you, so do not share it. Tell us immediately if you think somebody else has access to your account.

Until you verify your identity, there is a limit on what your wallet may hold. Verification raises it, and is required before you can invest.

Your wallet

Money in your PesewaPay wallet is yours. It is recorded on a double-entry ledger, which means every movement is written on both sides at the same moment — money is never in two places, and never in none.

A PesewaPay wallet is not a bank account. It does not earn interest simply for sitting there, and it is not a deposit-taking product. Savings vaults and investments are separate products with their own terms.

Withdrawals out of PesewaPay to a bank or mobile money account are not yet available. Money moves freely between PesewaPay accounts and products; taking it out of the platform is on our roadmap and is not built today. We state this here because it is the kind of thing that should not be a surprise.

Charges

Any charge that applies is shown to you before you confirm, on the same screen you confirm on. Charges vary by service and some are currently nothing at all. We may change them, and when we do we will tell you before the change applies to you.

A refund is never charged for.

Buying and selling in Pesewa Shop

When you pay for an order, the money is held by PesewaPay rather than passed to the seller. It is released to the shop when the order is marked handed over. A paid order that was never delivered is still your money.

• As a buyer you may cancel within 24 hours of ordering, and not once the shop has started preparing it. Whatever you paid returns to your wallet as part of the cancellation.
• As a seller you may cancel at any point before the goods are handed over. You must give a reason, and the buyer is shown it.
• The goods themselves are the seller's responsibility. PesewaPay provides the platform and holds the money; we are not the seller and do not warrant what is sold.

Group Pay

The terms of a group — the amount, the number of rounds, who is in it and who receives which round — are fixed when the group starts, and membership closes at that moment. A round is paid out only when it has been collected in full. If members fall behind, the shortfall is recorded and the payout waits; PesewaPay does not cover it and does not pay a recipient a reduced amount.

Bit Pay

An instalment agreement takes effect when the person paying accepts it. The schedule is fixed at that point and cannot be rebuilt once payments have been made against it. Payments are applied to the oldest outstanding instalment first.

Savings

Some savings plans lock for a period. Withdrawing before maturity on a locked plan costs the penalty for that plan, which is shown to you and must be explicitly confirmed before it is applied. A penalty cannot be charged without that confirmation.

Investment — please read this part

Investing puts your money at risk. On a higher-risk product you can lose some or all of it.

• Every product states its risk level, and that level determines what happens to your capital. On a higher-risk product you receive a share of what the venture actually earns and your capital is not returned or guaranteed. If the venture does badly you can receive less than you invested, or nothing.
• On a lower-risk product your capital is returned at the end of its term at a fixed rate agreed in advance. That is why the return is lower.
• Past performance says nothing about future returns, and no figure shown anywhere on PesewaPay is a promise about what any venture will earn.
• The terms of your holding — the rate, the term, the maturity date, and whether you may exit early — are fixed at the moment you buy and are not changed afterwards by any later edit to the product.
• Leaving early is only possible where a product allows it, and only on lower-risk products.
• If a product does not raise its minimum, it is cancelled and every investor is refunded in full.

Do not invest money you cannot afford to be without. Nothing on PesewaPay is financial advice, and we do not tell you what to invest in.

Scheduled payments

A scheduled payment reminds you by default and moves nothing. It debits automatically only where you asked for that and confirmed it with your PIN. An automatic payment that cannot go through — for want of funds, or because the recipient has no account — does not go through, and the reason is recorded and shown to you.

What you must not do

Use PesewaPay for anything unlawful, for fraud, for money laundering, or to impersonate somebody else. We may suspend an account we reasonably believe is being used for any of that, and we will tell you when we do unless the law prevents us.

Our responsibility, and its limits

We will run the service with reasonable care and skill. We are responsible for our own failures — money we lose or misplace, or a mistake in our records — and we will put those right.

We are not responsible for the goods a seller sells, the outcome of a venture you invest in, a payment you authorised to somebody you should not have, or an outage at a mobile money network or bank. Where a third party we rely on fails, we will tell you what happened rather than going quiet.

Closing your account

You can close your account at any time, once nothing is outstanding — no active investments, no unsettled orders, no running group. We may close an account for a serious breach of these terms, and will give you your money back where it is yours to have.

Changes and disputes

When these terms change materially we will tell you in the app. Ghanaian law applies. Please use our complaints process first — most things are settled faster that way than any other.