Terms and Conditions for the use of Wave/Reliance
TERMS AND CONDITIONS FOR THE BANK TO WALLET AND WALLET TO BANK TRANSFER SERVICE
These Terms and Conditions contain the complete terms and conditions pursuant to which Wave Transfer Limited and Reliance Financial Services Africa Gambia Limited offer the service of transfer of funds between a Wave account and a Bank account, pursuant to the partnership between:
Reliance Financial Services Africa Gambia Limited, a company incorporated in The Gambia under company number (2014/6726) and having its registered office at 70 Kairaba Avenue (hereinafter called the "Bank") on the one part;
and
Wave Transfer Limited a company incorporated in The Gambia under company number 2018/C6364 and having its registered office at 2nd Street East, Fajara M Section, Kanifing Municipality, Gambia ("Wave") ("Wave") ("Wave").
Definitions
In these Terms and Conditions, the following definitions will apply:
"Agreement" shall mean the agreement between Wave and the Customer, as set out in these Terms and Conditions;
"B2W Transfer" shall mean the operation by which a Customer credits their Wave Account with Electronic Money by transfer of the equivalent amount of GMD from their Bank Account;
"Bank Account" shall mean the GMD current account or savings account held at the Bank in the Customer's name from which transfers may be made to or from the Wave Account;
"Bank Application" shall mean the Bank's mobile or web application allowing the Customer to access their Bank Account using their login information and to carry out operations on their Bank Account, including any Transactions defined herein;
"Contact Wave" shall mean contact to Wave by email, telephone or registered courier, as provided at clause 10;
"Contact the Bank" shall mean contact to the Bank by email, as provided at clause 10;
"Customer" "you" or "your" shall mean holders of a Wave Account and a Bank Account and who accept these Terms and Conditions for use of the Services;
"Electronic Money" shall mean a monetary value stored in electronic form and representing an entitlement to an equivalent amount of cash held by a bank in a trust account;
"Fees" shall mean the fees charged by Wave and the Bank in respect of Transactions, and as published in the Wave Application and the Bank Application;
"GMD" shall mean Gambian Dalasi;
"PIN Code" shall mean each of the secret four digit numerical codes chosen by the User and required to authorise access to the User's Wave Account and Bank Account and to authorise Transactions;
"Terms and Conditions" shall mean these Terms and Conditions for the Bank to Wallet and Wallet to Bank Transfer Service;
"Transaction" shall mean a B2W Transfer or a W2B Transfer initiated by a Customer;
"Wave", "Bank", "we", "us" and "our" shall mean Wave and/or the Bank, as fully identified above;
"Wave Application" shall mean the application available from a cell phone enabling the Customer to access his/her Wave Account using his/her login details and to make deposits and withdrawals of Electronic Money and the Transactions defined herein; and
"Wave Account" shall mean the Customer's Wave Electronic Money account for deposits, withdrawals, transfers and payments, in respect of which the Customer registers for the Service.
"Services" shall mean the service of B2W Transfers and W2B Transfers (and any ancillary services) offered to Customers by Wave and the Bank;
"SMS" shall mean a short message service consisting of a text message;
"W2B Transfer" shall mean the operation by which a Customer credits their Bank Account with GMD by transfer of the equivalent amount of Electronic Money from their Wave Account;
In these Terms and Conditions use of the singular may include the plural and vice versa, as the context requires.
Acceptance and Duration
These Terms and Conditions contain the complete terms and conditions pursuant to which Wave and the Bank offer the service of transfer of funds between a Wave Account and a Bank Account.
These Terms and Conditions affect your rights and it is your responsibility to read them carefully.
By clicking "accept" you agree to accept and be bound by these Terms and Conditions. You acknowledge and agree that our digital record of your acceptance shall be considered as an original signature for all purposes and shall have the same force and effect as a handwritten (wet ink) signature.
These Terms and Conditions, as amended from time to time, shall continue in full force and effect from the date of your acceptance until the disconnection from the Service.
Connection to the Service
Connection to the Service shall be subject to the Customer meeting following conditions:
holding an active Wave Account and having completed Wave's customer identification procedures for a "KYC2" profile, as provided for in the Wave Account terms and conditions;
holding of one or more active Bank Accounts;
completing the Service registration form in the Wave Application including providing information that enables Wave to identify the Customer's Bank Account; and
acceptance of these Terms and Conditions.
Connection to the Service shall be subject to you providing accurate and complete information in the service registration form. You hereby confirm that all information and/or documents provided during registration are complete and accurate and you acknowledge that we rely in good faith on the information and documents you provide. Each time you access the Services, you acknowledge that you have confirmed the accuracy and completeness of all information provided by you to Wave and the Bank.
We reserve the right to request verification of your registration information and documents through background checks and/or credit checks, and you hereby authorize us to perform such checks.
Account security and unauthorized access
You shall be required to authorize Transactions with the secret PIN codes that you use when you log in to your Wave Account or when you log in to your Bank Account.
Authorization of a Transaction using your PIN Code shall constitute conclusive evidence of your authorization of the Transaction and shall irrevocably exclude us from any liability in respect of the Transaction.
You agree to ensure the security of access to your Wave Account and your Bank Account in accordance with their respective terms and conditions, including keeping your PIN Codes secret, and informing Wave or the Bank, as applicable, immediately if you become aware or suspect your PIN Code has been disclosed. You shall be responsible for all Transactions that may occur on your Wave Account or Bank Account following disclosure of your PIN Code and prior to blocking of your Wave Account or Bank Account.
Transactions
In delivering the Services we shall comply with all current and future regulations relating to Transaction monitoring and the fight against money laundering and terrorist financing, including verification of your identity pursuant to clause 3.1 above.
All Transactions shall be subject to the financial limits provided by the Central Bank of the Gambia from time to time, and as set out in the Wave Account terms and conditions. We may in our discretion and for legal compliance set lower limits. We shall notify you of any change to the Transaction limits as soon as possible before the change is implemented.
You represent and warrant that all information you enter into the Wave Application or the Bank Application regarding a requested Transaction shall be accurate and complete. You acknowledge that any error(s) or omission(s) in the information, including an erroneous indication of the amount of your Transaction are your full and entire responsibility and that we shall have no liability for the execution of any Transaction based on inaccurate or incomplete information provided or entered by the Customer.
A record of your Transactions shall be made available to you via the Wave Application and the Bank Application, in accordance with the terms and conditions of the Wave Account and the Bank Account.
Right to reject requested Transactions
We reserve the right to delay or reject a Transaction request or impose a limitation on the same, without notice, for any of the following reasons:
if there are insufficient funds in your Wave Account or Bank Account to cover the value of the Transaction and any applicable Fees;
if the value of one or more of your Transaction requests exceeds applicable Transaction limits;
if your request is incomplete or imprecise;
if Wave has any suspicion of fraud, irregular or illegal acts relating to the requested Transaction;
if Wave is prevented for any reason from accessing funds in your Wave Account for the requested Transaction; or
if for any other reason Wave in its sole discretion deems it appropriate or necessary.
Your Transaction may not be completed due to technical reasons such as maintenance of our servers. If the W2B Transaction is not finalized due to a technical problem, Wave undertakes to return the amount of the Transaction to you by the next day. If the B2W Transaction is not finalized due to a technical problem, the Bank undertakes to return the amount to you by the next day.
If your Transaction is not completed for any reason, we shall notify you of this.
Fees
You agree and accept that we shall charge you Fees for the Transactions.
We reserve the right to change the Fees, in our discretion, subject to prior notice to you. In the event that you do not accept any revised Fees you shall cease all Transactions.
Disconnection from the Service
Disconnection from the Service is subject to an express request on your part, validated by entering your PIN code on the Wave Application.
We may also disconnect you from the Service, if we suspect that your Wave Account or Bank Account is being used fraudulently for illegal activities, or if we are requested to do so in order to comply with the law, or if you are in breach of this Agreement, or to protect our interests.
You will be automatically disconnected from the Service if you close your Wave Account or the relevant Bank Account(s).
Confidentiality and data privacy
Wave and the Bank commit to holding your information in the strictest confidence in accordance with the Bank Account and Wave Account terms and conditions, as applicable.
Wave and the Bank shall process your personal information in accordance with the Bank Account and Wave Account terms and conditions, as applicable.
Contact, claims and complaints
For all queries or complaints you may:
contact Wave by email to [contact@Wave.com], by contacting Wave's toll-free helpline [1222], or by registered courier to our registered office address stated in the first paragraph of these Terms and Conditions;
contact the Bank by [digital@rfs.gm]
You shall be required to notify Wave or the Bank of any disputed Transactions, claims or complaints urgently, failing which you acknowledge and agree that your claim may be compromised.
Availability of the Services
We will do our utmost to ensure that the Services are available 24 hours a day, 7 days a week, 365 days a year, uninterrupted, and that transmissions will be error-free. However, due to the nature of the internet, this cannot be guaranteed. Your access to the Services may from time to time be suspended or restricted to allow for repairs, maintenance, or the introduction of new facilities. We will attempt to limit the frequency and duration of any such suspension or restriction.
Limitation of Liability
THE APPLICATION IS PROVIDED TO YOU ON AN "AS IS" AND "AS AVAILABLE" BASIS. WAVE AND THE BANK MAKE NO WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE APPLICATION, THE SERVICES, OR RELATED INFORMATION, INCLUDING WITH RESPECT TO THEIR FUNCTIONALITY, ACCURACY, RELEVANCE, OR COMPLETENESS.
Wave and the Bank shall make all commercially reasonable efforts to execute Transactions in accordance with your instructions. In the event that a Transaction error or delay is caused by fault of either Wave or the Bank, our sole obligation to you shall be to correct the error or refund the Transaction amount and/or Fee, as applicable. You agree that the foregoing constitutes your exclusive remedy under or in connection with the Services.
You agree that neither Wave nor the Bank shall be liable for any loss, damage or expenses resulting from: any fault or omission by you, including payment to the wrong recipient due to entry of incorrect details; rejected, delayed or failed Transaction requests; unavailability of the Services; or circumstances beyond our control, whether caused by strikes, power outages, equipment malfunction, acts or omissions of an intermediary bank, war, riots, government or judicial orders, work stoppages or similar events or circumstances; any actions not caused by our breach of these Terms and Conditions.
IN NO EVENT SHALL WAVE OR THE BANK BE LIABLE FOR PUNITIVE, SPECIAL, INCIDENTAL OR CONSEQUENTIAL LOSS, DAMAGE OR EXPENSES ARISING OUT OF OR IN CONNECTION WITH THE APPLICATION OR THE SERVICES EVEN IF WE OR OUR REPRESENTATIVES ARE ADVISED OF SUCH LOSS, DAMAGE, OR EXPENSES.
You acknowledge that Wave and the Bank are each limited liability entities and you agree not to bring any claim personally against officers or staff of Wave or the Bank in respect of any losses suffered in connection with this Agreement (this will not limit or exclude the liability of the limited liability entity itself for the acts and omissions of its officers and staff).
Notwithstanding this clause 12, nothing in these Terms and Conditions limits or excludes our responsibility for liabilities that may not be excluded under applicable law.
Indemnification
In consideration of our agreement to provide you with the Services, you agree to indemnify and hold us harmless against all claims, lawsuits, judgments, executions, liabilities, losses, damages, costs and expenses, including reasonable attorneys' fees, related to or arising out of your: misuse of the Application; breach of these Terms and Conditions; or any Transactions completed on your request.
Without limiting the generality of the foregoing obligation, you agree to indemnify us for all losses caused by any incomplete or inaccurate information that you provide to us and for all losses due to your failure to maintain the secrecy and confidentiality of all your identifiers, passwords and codes and due to unauthorized use of your identity document and/or password.
Miscellaneous
Third party rights: The Agreement between you, Wave and the Bank, and is for the benefit of you Wave and the Bank only and is not intended to benefit or be enforceable by any third party. The exercise of your rights and our rights under the Agreement is not subject to the consent of any third party.
Entire agreement: These Terms and Conditions and the terms and conditions of the Wave Account and the Bank Account shall constitute the entire agreement between you, Wave and the Bank relating to the Services.
Variation: We reserve the right to revise these Terms and Conditions without notice, except as required by law. Subject to the materiality of the revision and as required by law, you may be requested to accept the new terms and conditions, and a nil response within the notice period shall be deemed acceptance. If you expressly reject the new terms and conditions, you shall be deemed to have terminated the Agreement. No variation of this Agreement shall be valid unless it is by notice in writing.
Notice: You consent to receive communications and formal notices electronically, either by notification through the smartphone Application, or by SMS or email to the telephone number or email address on your Wave Account or Bank Account. All such communications will be deemed to be notices in writing, properly served and received by you. You may serve formal notices on Wave and/or the Bank by registered courier to our respective registered offices.
Severability: If a provision of these Terms and Conditions is determined by any court or other competent authority to be unlawful and/or unenforceable, the other provisions will continue in effect. If any unlawful and/or unenforceable provision of these Terms and Conditions would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue in effect.
No waiver: No breach of any provision of these Terms and Conditions will be waived except with the express written consent of the party not in breach. No waiver of any breach of any provision of these Terms and Conditions shall be construed as a further or continuing waiver of any other breach of that provision or any breach of any other provision of these Terms and Conditions.
Law and jurisdiction: The Agreement shall be governed by and construed in accordance with the laws of the Gambia. Any disputes relating to the Agreement shall be subject to the exclusive jurisdiction of the courts of the Gambia.
By clicking "accept" you acknowledge that you have read, understood and agree to these Terms and Conditions.