Terms of Use

These terms affect your legal rights, endeavor to read them and treat with utmost importance.

1. Introduction

Welcome to Savi.ng (“Savi.ng”, “we”, “us”, “our”) is a demand deposit account owned and operated by VFD Microfinance Bank Limited (the Company”). We are a company duly registered in Nigeria (RC 1209088) and licensed by the Central Bank of Nigeria (CBN) with our address at 214 Broad Street, Lagos Island, Lagos State, Nigeria. These Terms of Use, including our Privacy Policy (the “Terms”) govern your use of  our service. As used in these Terms of Use, “Savi.ng service” “our service”, or “service” means the subscription service provided by the Company, including all features and functionality, the Site, content, application, user interface and software associated with our service.

By using the Savi.ng service, websites, platform or software applications (together, the “Savi.ng Service” or “Service”), including rights or licenses, you are entering into a binding contract with our Company in your country of residence (your “Local Country”). Your agreement with us includes these Terms and Conditions of Use (“Terms”) and our Privacy Policy  (the “Agreements”). If you don’t agree with these Terms, then please don’t use the Service.

2. Acceptance Of Terms Of Use

By accessing, visiting, using or browsing the Savi.ng Service, via this Site or any other device or application or other technology, you accept and agree to be bound by the Terms. Please read carefully. Further, you shall be subject to any additional terms of use that apply when you use certain products or posted guidelines or rules applicable to our Service, which may be posted and modified from time to time. All such guidelines are hereby incorporated by reference into the Terms.

ANY ACCESS, USE or PARTICIPATION IN THE SERVICE WILL CONSTITUTE ACCEPTANCE OF THE TERMS. IF YOU DO NOT AGREE TO THESE TERMS OF USE, PLEASE DO NOT USE THE Savi.ng SERVICE OR OUR SITE OR APPLICATION OR ACCESS OUR SERVICE.

 3. Qualification For Use

You must be 18 years of age, or the age of majority in your province, territory or country, to become a member of the Savi.ng Service. Individuals under the age of 18, or applicable age of majority, may utilize the service only with the involvement of a parent or legal guardian, under such person’s account and otherwise subject to these Terms. The User must have the contractual capacity to enter a binding contract with us and are not barred from doing so under any applicable laws. You also warrant that any registration information that you submit to Savi.ng is true, accurate and complete, and you always agree to keep it that way and the Company will not be held liable for any loss or damage that may arise in this respect.

4. Changes To The Agreements

The Company may in its sole discretion, from time to time, change these Terms, at any time without notice. We will display the changes on this page of the Site or through a notification in the application and such changes shall be effective immediately. By continuing to use the Service after those changes are made, you are expressing and acknowledging your acceptance of the changes.

5. Consent

By using the Savi.ng Service, you consent to receiving electronic communication from Savi.ng and the Company relating to your account. We will communicate with you by e-mail, or by posting notices on the Site or application or through other Savi.ng methods. For contractual purposes, you consent to receive communications from us electronically and you agree that all agreements, notices, disclosures and other communications that we provide you electronically satisfy any legal requirement that such communication be in writing. You also consent to receiving certain other communication from us, such as newsletters, special offers, questionnaires, customer surveys or other announcements via email or other methods. You may opt out of receiving non-transactional communications, including marketing communications from us by following the directions in our e-mail to “unsubscribe” from our mailing list, or by sending an e-mail request to support@Savi.ng.com. Please be aware that if you choose not to receive such communication, certain offers attached to services you have chosen may be affected. We will still communicate with you in connection with transactional communications, including but not limited to servicing your account, invoices and customer services. Please review our privacy policy here http://Savi.ng.com/about/privacy, for other choices with regards to opting out of cookies and interest-based advertising from third party advertising agencies.

6. Savi.ng Services

In order to access our service, you will have to create an account with Savi.ng either by formally registering with Savi.ng, or via the application, or a third party. Here’s some information about all the ways you can enjoy Savi.ng:

.Automated Saving and withdrawal at stipulated times-

Savi.ng helps you save money with little or no effort. Automatic debits would be made on your behalf from your debit card, on days that you have instructed and the amount you specify. Only funds from your debit card may be transferred to your Savi.ng Account. The funds in your Savi.ng Account are held at a bank for your benefit, and they remain in your Savi.ng Account until an instruction to transfer all or some of the funds to your Bank Account. We would transfer the funds to your bank Account within 48hours after which the instruction was given.

Automated reinvestment of funds upon request

Your funds can be reinvested into your Savi.ng Account at any time upon your request. It doesn’t matter that you have previously given an instruction to transfer all your funds to your bank Account.

You may not use the funds in your Savi.ng Account to make purchases, withdraw cash, transfer funds to third parties, or for any other purpose.

Savi.ng is not a financial adviser, and the Services are not intended to provide financial advice

There are no transaction charges or monthly fee for the Services, we reserve the right to change fees for the Services in the future. We will notify you before charging a fee for the Services by delivering notice to you electronically, by posting such fee on the Website, or by any other method permitted by applicable law. If you continue using the Services after such notice, you must pay all applicable fees for the Services.

7. Licence, Assignment, And Restrictions

You agree to use the Savi.ng Service, including all features and functionalities associated therewith, in accordance with all applicable laws, rules and regulations, including public performance limitations or other restrictions on use of the service or content therein. In addition, you agree that:

  • You are prohibited from reproducing, modifying, copying, uploading, exporting, transferring, selling, forwarding or transmitting the Contents on the Site or in the application other than in accordance with the license granted and further not to reproduce any information.
  • You may not create, recreate, distribute or advertise an index of any significant portion of the content unless authorized by the Content.
  • You may not circumvent, remove, alter, deactivate, degrade or thwart any of the content protections in the Savi.ng service; use any robot, spider, scraper or other automated means to access the Savi.ng service; decompile, reverse engineer or disassemble any software or other products or processes accessible through the Savi.ng service; insert any code or product or manipulate the content of the Savi.ng service in any way; or, use any data mining, data gathering or extraction method.
  • You shall not upload, post, e-mail or otherwise send or transmit any material designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment associated with the Savi.ng service, including any software viruses or any other computer code, files or programs.
  • You may not build a business utilizing the content, whether or not for profit. The content covered by these restrictions includes without limitation, any text, graphics, layout, interface, logos and photographs.
  • You may not arrange for any other website to be connected to the Site or application by way of hyperlink or otherwise without the prior written consent of the Company.

The Savi.ng software applications are licensed, not sold, to you, and Savi.ng retains ownership of all copies of the Savi.ng software applications even after installation on your Devices. Savi.ng may assign these Agreements or any part of them without restrictions. You may not assign these Agreements or any part of them, nor transfer or sub-license your rights under this Licence, to any third party.

All Savi.ng trademarks, service marks, trade names, logos, domain names, and any other features of the Savi.ng brand are the sole property of Savi.ng. This Licence does not grant you any rights to use the Savi.ng trademarks, service marks, trade names, logos, domain names, or any other features of the Savi.ng brand, whether for commercial or non-commercial use.

You agree to abide by our terms and not to use the Savi.ng Service (including but not limited to its content) in any manner not expressly permitted by the Terms.

Third-party software libraries included in the Savi.ng Service are licensed to you either under these Terms, or under the relevant third-party software library’s licence terms as published in the help or any other section of our website/ mobile app.

8. Third-Party Applications

The Savi.ng Service provides a platform for third-party applications, websites and services to make available products and services to you (“Third Party Applications”), and your use of these Third-Party Applications is subject to their terms of use. You understand and agree that Savi.ng is not responsible or liable for the behavior, features, or content of any Third-Party Application.

9. User-Generated Content

Savi.ng users may post, upload, and/or contribute (“post”) content to the Service, including pictures and text (“User Content”). You represent that you have the right to post any User Content which you post to the Service, and that such User Content, or its use by us as contemplated by this Agreement, does not violate these Agreements, applicable law, or the intellectual property rights of others. You grant us a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any User Content that you post on or in connection with Savi.ng. This license lasts until you terminate your Savi.ng account, except in the case of User Content that you have published, made public and/or share with others. Aside from the rights specifically granted herein, you retain ownership of all rights, including intellectual property rights, in the User Content that you post to the Savi.ng Service, except that, where applicable under Local Country law, you agree to waive your right to be identified as the author of any User Content on the Savi.ng Service and your right to object to derogatory treatment of such User Content.

  • Savi.ng does not monitor, review, or edit User Content, but reserves the right to remove or disable access to any User Content for any or no reason, including but not limited to, User Content that, in Savi.ng’s sole discretion, violates these Agreements. Savi.ng may take these actions without prior notification to you. Removal or disabling of access to User Content shall be at our sole discretion, and we do not promise to remove or disable access to any specific User Content.

Savi.ng is not responsible for User Content nor does it endorse any opinion contained in User Content. If you believe that any User Content infringes your intellectual property rights, does not comply with the User Guidelines (Section 11 below) or that your rights under applicable law have been otherwise infringed by any User Content, please contact us at support@Savi.ng.com.

10. Consideration

In consideration for the rights granted to you under these Terms, you grant us the right to allow the Savi.ng Service to use the processor, bandwidth and storage hardware on your Device in order to facilitate the operation of the Service.

You grant Savi.ng a non-exclusive, transferable, sub-licensable, royalty-free, perpetual, worldwide licence to use, reproduce, make available to the public, publish, translate and distribute any User Content that you post on or otherwise provide through the Savi.ng Service.

These Terms are not intended to grant rights to anyone except you and Savi.ng, and in no event shall these Terms create any third-party beneficiary rights. Any failure by Savi.ng to enforce these Terms or any provision thereof shall not waive Savi.ng’s right to do so.

11. User Guidelines

We have established a few ground rules for you to follow when using the Service, to make sure Savi.ng stays enjoyable for everyone. Please follow these rules and encourage other users to do the same.

Savi.ng respects intellectual property rights and expects you to do the same. This means, for example, that the following is not permitted: (a) circumventing any technology used by Savi.ng, its licensors, or any third party to protect content accessible through the Service; (b) renting or leasing of any part of the Services; (c) circumventing of any territorial restrictions applied by Savi.ng; (d) removing or altering any copyright, trademark or other intellectual property notices contained on or provided through the Savi.ng Service; (i) providing your password to any other person or using any other person’s user name and password.

Please respect Savi.ng and other users of the Savi.ng Service. Don’t engage in any activity on the Service or upload User Content, including registering and/or using a username, which is or includes material that (a) is offensive, abusive, defamatory, pornographic or obscene; (b) is illegal, or intended to promote or commit an illegal act of any kind, including but not limited to, violations of intellectual property rights, privacy rights or proprietary rights of Savi.ng or a third party; (c) includes personal data of third parties or is intended to solicit such personal data, (d) includes malicious content such as malware, trojan horses or viruses, or otherwise interferes with any user’s access to the Service; (e) is intended or does harass or bully other users; (f) impersonates or misrepresents your affiliation with another user, person or entity, or is otherwise fraudulent, false, deceptive, or misleading; (g) uses automated means to artificially promote content; (h) involves the transmission of unsolicited mass mailing (“spam”), junk mail, chain letter, or similar, including through the Savi.ng inbox; (i) involves commercial or sales activities, such as advertising, contests, sweepstakes, or pyramid schemes; (j) promotes commercial products or services; (k) interferes with the Savi.ng Service, tampers with or attempts to probe, scan, or test for vulnerabilities in the Service or Savi.ng’s computer systems or network, or breaches any of Savi.ng’s security or authentication measures, or (l) conflicts with the Agreement, as determined by Savi.ng. You agree that Savi.ng may also reclaim your username for any reason.

Your password protects your user account, and you are solely responsible for keeping your password confidential and secure. You understand that you are responsible for all use of your username and password on the Service. If your username or password is lost or stolen, or if you believe there has been unauthorized access to your account by third parties, please notify us immediately and change your password as soon as possible.

12. Copyright Infringement

All rights reserved. No part of Savi.ng may be Copied, reproduced, ripped, recorded, re-engineered, decompiled, disassembled, modified reproduced, distributed, or transmitted in any form or by any means either electronic or mechanical methods, without the prior written permission of Savi.ng. For permission requests, write to the Legal through support@Savi.ng.com

13. Technology Limitations And Modifications

Savi.ng will make reasonable efforts to keep the Savi.ng Service operational. However, certain technical difficulties or maintenance may, from time to time, result in temporary interruptions. Savi.ng reserves the right, periodically and at any time, to modify or discontinue, temporarily or permanently, functions and features of the Savi.ng Service, with or without notice, all without liability to you for any interruption, modification, or discontinuation of the Savi.ng Service or any function or feature thereof. You understand and agree that Savi.ng has no obligation to maintain, support, upgrade, or update the Service, or to provide all or any specific content through the Service.

14. Export Control

You agree that you shall not – directly or indirectly – sell, export, reexport, transfer, divert, or otherwise dispose of any products, software, or technology (including products derived from or based on such technology) received from Savi.ng under these Agreements to any destination, entity, or person prohibited by the laws or regulations of the Federal Republic of Nigeria, without obtaining prior authorization from the competent government authorities as required by those laws and regulations.

15. Term And Termination

These Terms will continue to apply to you until terminated by either you or Savi.ng. Savi.ng may terminate the Terms or suspend your access to the Savi.ng Service at any time, including in the event of your actual or suspected unauthorized use of the Savi.ng Service or non-compliance with the Terms. If you or Savi.ng terminate the Terms, or if Savi.ng suspends your access to the Savi.ng Service, you agree that Savi.ng shall have no liability to you to the fullest extent permitted under applicable law. To learn how to terminate your Savi.ng account, please contact us through the Customer Service contact form.

16. Warranty

We endeavor to provide the best Service we can, but you understand and agree that THE Savi.ng SERVICE IS PROVIDED “AS IS”, WITHOUT EXPRESS OR IMPLIED WARRANTY OR CONDITION OF ANY KIND. YOU USE THE Savi.ng SERVICE AT YOUR OWN RISK. Savi.ng DISCLAIMS ANY WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.

In addition, Savi.ng does not warrant, endorse, guarantee or assume responsibility for any Third-Party Applications, Third Party Application content, User Content, or any other product or service advertised or offered by a third party on or through the Savi.ng Service or any hyperlinked website, or featured in any banner or other advertising. You understand and agree that Savi.ng is not responsible or liable for any transaction between you and third-party providers of Third-Party Applications or products or services advertised on or through the Savi.ng Service. As with any purchase of a product or service through any medium or in any environment, you should use your judgment and exercise caution where appropriate. No advice or information whether oral or in writing obtained by you from Savi.ng shall create any warranty on behalf of Savi.ng in this regard.

17. Limitation

You agree that, to the extent permitted by applicable law, your sole and exclusive remedy for any problems or dissatisfaction with the Savi.ng Service, the Third-Party Applications or the Third-Party Application content is to uninstall any Savi.ng software and to stop using the Savi.ng Service, the Third-Party Applications or the Third-Party Application content.

TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT WILL Savi.ng, ITS OFFICERS, SHAREHOLDERS, EMPLOYEES, AGENTS, DIRECTORS, SUBSIDIARIES, AFFILIATES, SUCCESSORS, ASSIGNS, SUPPLIERS OR LICENSORS BE LIABLE FOR (i) ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL (INCLUDING LOSS OF USE, DATA, BUSINESS, OR PROFITS) DAMAGES, ARISING OUT OF THE USE OR INABILITY TO USE THE Savi.ng SERVICE, THIRD PARTY APPLICATIONS OR THIRD PARTY APPLICATION CONTENT, REGARDLESS OF LEGAL THEORY, WITHOUT REGARD TO WHETHER Savi.ng HAS BEEN WARNED OF THE POSSIBILITY OF THOSE DAMAGES, AND EVEN IF A REMEDY FAILS OF ITS ESSENTIAL PURPOSE; (ii) AGGREGATE LIABILITY FOR ALL CLAIMS RELATING TO THE Savi.ng SERVICE, THIRD PARTY APPLICATIONS OR THIRD PARTY APPLICATION CONTENT MORE THAN THE AMOUNTS PAID BY YOU TO Savi.ng DURING THE PRIOR THREE MONTHS IN QUESTION.

Nothing in these Agreements removes or limits Savi.ng’s liability for fraud, fraudulent misrepresentation, death or personal injury caused by its negligence. Some aspects of this section may not apply in some jurisdictions.

18. Entire Agreement

This Agreement constitute all the terms and conditions agreed upon between you and Savi.ng and supersede any prior agreements in relation to the subject matter of this Agreement, whether written or oral. Any additional or different terms or conditions in relation to the subject matter of the Agreement in any written or oral communication from you to Savi.ng are void. You represent that you have not accepted the Agreements in reliance on any oral or written representations made by Savi.ng that are not contained in the Agreement.

Please note, however, that other aspect of your use of the Savi.ng Service may be governed by additional agreements. You will agree to separate terms and conditions in those circumstances, which may be provided from time to time. Those terms and conditions shall govern only with regard to the aspect of the Service to which they apply, and are distinct from and supplemental to this Agreement, and do not supersede this Agreement. To the extent that there is any conflict between those agreements and this Agreement, this Agreement shall control, except as otherwise provided in these Terms.

Occasionally we may offer you the chance to participate in sweepstakes, contests, and surveys (“Special Promotions”) through the Service. Special Promotions may be governed by terms and conditions that are separate from these Terms. If the provisions of a Special Promotion’s terms and conditions conflict with these Terms, those separate terms and conditions shall prevail.

19. Severability

Should any provision of the Terms be held invalid or unenforceable for any reason or to any extent, such invalidity or enforceability shall not in any manner affect or render invalid or unenforceable the remaining provisions of the Terms, and the application of that provision shall be enforced to the extent permitted by law.

20. Choice Of Law And Dispute Resolution

The validity, construction and performance of this Agreement shall be governed by the laws of the Federal Republic of Nigeria.

Parties shall use their best endeavors to amicably settle any dispute or difference of opinion arising from or in connection with this Agreement through mutual discussions.

Where the Parties are unable to resolve the dispute through mutual discussions, the dispute or difference of opinion shall be referred to mediation conducted by their legal representatives or financial auditors, where financial matters are involved. Failing which the dispute shall finally be referred to arbitration in accordance with the Arbitration and Conciliation Act Cap. A18, Laws of the Federation of Nigeria 2004, or any amendment thereto.

The place of arbitration shall be Lagos State, Nigeria and there shall be a sole arbitrator who shall be appointed jointly by the parties. Where the parties fail to jointly agree on the appointment, they shall approach the Lagos Multi-Door Court House to appoint a sole arbitrator who shall be competent to adjudicate on the issue in dispute.

The language to be used in the arbitral proceedings shall be English.

The arbitral award shall be final and binding between the Parties.

The reference of any dispute to arbitration shall not prevent the Parties from seeking any form of protective reliefs/injunctions/specific performance from a court of law via motion or other originating processes for the protection of any res pending the constitution of the Arbitral Panel and/or final award.

 

Last updated- November 2018