Terms and Conditions

Introduction

Welcome to Sabi Money. These Terms and Conditions govern your use of the Sabi Money mobile application and related services. By accessing or using the platform, you agree to be bound by these terms. If you do not agree with these terms, you should not use the application.

About Sabi Money

Sabi Money is a digital budgeting and financial management platform designed to help users automate their personal finances. Users can create "funnels" for different financial priorities and assign percentages to each funnel. When funds are received, Sabi Money automatically allocates the incoming amount across those funnels based on the user's predefined settings.

Sabi Money is provided as a budgeting and allocation tool to support financial discipline. Sabi Money does not guarantee financial outcomes, investment performance, or savings returns.

Eligibility

To use Sabi Money, you must:

• Be at least 18 years old
• Provide accurate registration information
• Use the platform in compliance with applicable laws

Account Registration

Users must create an account to access certain features of the platform. You are responsible for maintaining the confidentiality of your login credentials and for all activities that occur under your account.

Virtual Accounts and Wallet Addresses

Sabi Money uses Paystack Virtual Accounts to generate dedicated account numbers that are assigned to individual users as wallet addresses. Funds sent to these virtual accounts are treated as wallet funding transactions within the platform and may be automatically allocated across the user's selected funnels based on the percentages the user has configured.

By creating an account and using Sabi Money's wallet functionality, you authorize Sabi Money to share the information reasonably required to create and manage your dedicated virtual account with our third-party payment provider, Paystack. This may include your first name, last name, email address, and phone number.

Use of Services

Sabi Money provides tools that help users organize and automate how their funds are allocated. Each incoming payment is treated as 100% of the received amount, and Sabi Money distributes that amount according to the user's funnel configuration.

User Control of Funds

Users retain control over how funds in their wallet and funnels are managed within the platform. Subject to applicable processing times and payment network requirements, users may request withdrawals from their wallet to supported bank accounts at any time.

Locked Funnels

If a user chooses to lock a funnel balance until a specified date, that user grants Sabi Money the right to restrict access to the locked amount until the selected unlock date. This restriction is applied solely based on the user's instruction and chosen settings within the platform.

Fees and Charges

Processor Charges: Processor charges are transaction fees charged by Paystack when funding a wallet address and when withdrawing or sending money to bank accounts connected to funnels.

Platform Fee / Service Charge: This is the amount charged by Sabi Money for providing the budgeting and financial management platform.

Current Platform Fee Breakdown:

• N3 for transactions up to N100
• N5 for transactions above N100 and up to N1,000
• N10 for transactions above N1,000 and up to N10,000
• N20 for transactions above N10,000 and up to N50,000
• N35 for transactions above N50,000 and up to N100,000
• N70 for transactions above N100,000

User Responsibilities

Users agree not to:

• Use the platform for illegal activities
• Attempt to gain unauthorized access to systems
• Interfere with platform operations

Suspension or Termination

Sabi Money reserves the right to suspend or terminate accounts that violate these terms or engage in suspicious activities.

Platform Role

Sabi Money is not a traditional bank, deposit-taking institution, or savings platform holding funds on behalf of users as a custodian in the ordinary sense. The platform acts as a budgeting and automation tool that helps users allocate and manage funds according to their own preferences.

Limitation of Liability

The platform is provided on an "as-is" basis. Sabi Money is not liable for financial losses resulting from user decisions, payment processor actions, third-party service interruptions, regulatory actions, or events outside our reasonable control.

Updates to Terms

These terms may be updated periodically. Continued use of the platform constitutes acceptance of the revised terms.