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Wallet Terms and Conditions

  1. Introduction
    1. Mukuru Money Transfer Limited, Reg. No. 13982 (“Mukuru”, “We” or “Us”) operates the Mukuru Wallet Service in Malawi. 
    2. Mukuru is licensed as a Payment Service Provider under the Payment Systems Act (as amended) with license number: PSP-004/23.
    3. The Mukuru Wallet Service enables a Mukuru Customer  to hold and operate a Mukuru Wallet in Malawi. 
    4. These T&C’s govern your access and use of the Mukuru Wallet Service These T&C’s form a binding agreement between you and Mukuru.
    5. Mukuru may amend these T&C’s without notice to you. Please check the Mukuru Website regularly for changes. If you continue to use the Mukuru Wallet Service after changes have been published, we assume you have accepted the changes from the day they come into effect.  If you don’t agree to the changes, you must stop using the Mukuru Wallet Service.
  2. T&Cs’ Definitions
    1. “Aid Organisations” mean organisations that provide money to people who have been affected by natural disaster, war, economic upheaval, or other conditions that prevent self-sufficiency.
    2. “Electronic Message” includes, but is not limited to, a message sent as an instant message, cellular phone text message, SMS, email, push notifications, (in-platform messages) or cross-platform mobile message (such as WhatsApp).
    3. “Electronic Money” is an electronic store of monetary value, denominated in Malawi Kwacha,  used for making payments to persons and entities.
    4. “Fee” the fee charged by Mukuru for your continued access and use of the Mukuru Wallet.
    5. “Fee Schedule” all the Fees charged for the use of the Mukuru Wallet Service. An updated Fee Schedule is available on Mukuru’s website or a digital copy can be requested.
    6. “Nyanja Pocket” means the part of the Mukuru Wallet where all of a Mukuru Customer’s Electronic Money will be stored, except for Electronic Money that originated from International Money Transfers, Aid Organisations or other entities enabled by Mukuru to transfer into the Moyo pocket. Money stored under the Nyanja Pocket cannot be moved to the Moyo Pocket by a Customer. 
    7. “Mukuru Customer” means a person who is signed up as a customer with Mukuru in Malawi.
    8. “Mukuru System” is the transaction processing system used to provide  the Mukuru Wallet Service in Malawi.
    9. “Mukuru Wallet” means a digital wallet which:
      1. is linked to a Mukuru Customer’s unique profile and mobile number.
      2. is allocated to a Mukuru Customer in the Mukuru System where the Mukuru Customer’s Electronic Money is recorded and held; and
      3. can be used by a Mukuru Customer to make and receive payments using a mobile device .
    10. “Mukuru Wallet Service” means the service we provide that enables you, a Mukuru Customer to use a Mukuru Wallet.
    11. “Mukuru Wallet Transaction” means any use of the Mukuru Wallet Service by a Mukuru Customer, at the applicable Fee, resulting in a Credit (incoming transfers of Electronic Money into a Mukuru Wallet) or Debit (outgoing transfers of Electronic Money from a Mukuru Wallet).
    12. “Moyo Pocket” means the part of the Mukuru Wallet where all of a Mukuru Customer’s Electronic Money will be stored that originate from International Money Transfers, Aid Organisations or other entities enabled by Mukuru to transfer into the Moyo pocket. Electronic Money can be moved from the Moyo Pocket to the Nyanja Pocket by the Customer at any time but you may lose out on certain benefits when doing so.
    13. “User Platforms” mean the mobile channels you use to interact with Mukuru.
  3. Applying for a Mukuru Wallet
    1. Only Mukuru Customers can apply for a Mukuru Wallet.
    2. The features, functionality, facilities you enjoy through the Mukuru Wallet and the limits on your Mukuru Wallet all depend on the level of identity verification you have provided. New Mukuru Wallet features, functionalities and/or facilities  may require additional identity verification information. Visit Mukuru’s website for information on the Mukuru Wallet levels and the limits placed on each level.
    3. When you apply for a Mukuru Wallet, We may request additional information/documentation from you.  
    4. You confirm and agree that:
      1. the information you provide to apply for a Mukuru Wallet and at any other time, is true, accurate, current, and complete. 
      2. You will keep this information accurate and up to date.  
      3. If Mukuru believes information you have given is false and/or tampered with, We will immediately close your Mukuru Wallet and we may notify the relevant authority if applicable.
      4. Mukuru may refuse a request to open a Mukuru Wallet if Mukuru reasonably believes that the proof of identification submitted is unsatisfactory to fulfil Mukuru’s requirements.
    5. Once your Mukuru Wallet has been created, you will be asked to set up a secret PIN number. The PIN number will be used to prevent others from accessing your Mukuru Wallet and using your funds.  
    6. You will earn interest on all Electronic Money stored in your Mukuru Wallet.
  4. Your Personal Information
    1. To provide you with a Mukuru Wallet We need to collect information about you. The information you give Us during your Mukuru Wallet application, and thereafter during Mukuru Wallet Transactions, is confidential and we take data privacy very seriously. Any information We receive about you will be subject to strict controls. These strict controls minimise the risk of misuse, unauthorised access to, or disclosure of your personal data.
    2. We agree to only use and retain the personal information you give Us in accordance with our Privacy Notice.
    3. What information we collect, how we use that information, who we pass the information onto, your rights as well as key contact information can be found in our Privacy Notice.
    4. Our Privacy Notice forms part of our agreement with you under these T&Cs.  
  5. Using your Mukuru Wallet
    1. As a Mukuru Wallet Customer, you specifically authorise Mukuru to:
      1. open, operate, manage and close a Mukuru Wallet in your name and on your behalf subject to these T&Cs;
      2. transact on your Mukuru Wallet on your behalf, subject to the receipt of electronic instructions from you via the Mukuru User Platforms; 
      3. authorise payment of Fees to Mukuru pertaining to the opening, operation and management of your Mukuru Wallet;
    2. You confirm and acknowledge that:
      1. Subject to 5.2.3, Mukuru must act on and accept all instructions to process Mukuru Wallet Transactions you give to Mukuru directly or indirectly. Once your PIN has been entered, any instructions given to process Mukuru Wallet Transactions will be considered to be instructions and/or payments authorised by you;
      2. Mukuru cannot act on or process your Mukuru Wallet Transaction instructions:
        1. unless you have enough Electronic Money in your Mukuru Wallet to cover the value of the Mukuru Wallet Transaction and the corresponding Fee;
        2. if the Mukuru Wallet Transaction does not comply with these T&Cs;
        3. if the Mukuru Wallet Transaction does not comply with applicable laws and regulations or Mukuru reasonably believes that it does not;
        4. if the Mukuru Wallet Transaction will cause your Mukuru Wallet to exceed (be more than) any transaction or balance limits. We set from time to time;
    3. You acknowledge that:
      1. Mukuru will be responsible for the reconciliation of the Electronic Money held in your Mukuru Wallet; and
      2. You will receive notifications of all Mukuru Wallet Transactions via your mobile phone. We can only give you digital copies of statements, and only upon request by you. The request can be made on the any Mukuru User Platforms.
        Please note that this section may limit our liability to you
    4. As a Mukuru Wallet Customer, you confirm that:
      1. Mukuru acts as your agent.  Unless there may be a right of recovery against Mukuru, Mukuru assumes all risks connected with the administration of the funds held in your Mukuru Wallet Account under these T&Cs;
      2. If you instruct Mukuru to make any payments from your Mukuru Wallet you indemnify and hold harmless Mukuru and its partners from and against all loss, damage, costs and expenses which you or any other person may sustain or incur, either directly or indirectly as a result of Mukuru or its partners paying any amounts into the digital wallet or bank account of any third party;
    5. To use the Mukuru Wallet Service you must:
      1. comply with all lawful instructions you receive from Us with respect to your Mukuru Wallet; and
      2. Have the right equipment and software needed to access your Mukuru Wallet.
    6. Your Mukuru Wallet and any Mukuru Wallet Transaction is subject to monetary and fiscal legislation, anti-fraud, anti-money-laundering, anti-terrorism regulations and  compliance and regulatory rules applicable in Malawi and other countries, as may be applicable.
    7. The Mukuru Wallet may not be used for the sale, resale or delivery of goods, provision of service or the pursuit of activities whose trading is unlawful or generally deemed to be high-risk or dangerous.
    8. The ability to receive payments via the Mukuru Wallet Service does not imply that the individual or entity delivers goods or services lawfully. 
    9. Mukuru may provide details of suspected improper and/or illegal use your Mukuru Wallet to the relevant authorities.
    10. Once Mukuru is notified of a Mukuru Wallet Customer’s death, then any Electronic Money held in the Mukuru Wallet at the time of death will be frozen until the administration of the deceased’s estate under applicable law.
    11. New Mukuru Wallet Services may be introduced or existing ones discontinued by Mukuru at any time without notice.
  6. Mukuru Wallet Transactions
    1. Mukuru reserves the right to set transaction and balance limits. Different limits may apply to the Moyo Pocket and the Nyanja Pocket. These limits are published on Mukuru’s website www.mukuru.com.
    2. Mukuru cannot carry out an instruction from you if you have exceeded the transaction limit on your Mukuru Wallet or if a transaction will result in you exceeding your Mukuru Wallet Transaction or Balance limits. 
    3. If the Mukuru Wallet Service provides multiple tiers, you can upgrade to a higher tier once you have provided all additional documentation and information Mukuru requires. 
    4. You must provide Mukuru with correct and complete information and instructions when you transact with your Mukuru Wallet.
    5. Please note that Mukuru does not:
      1. verify the identity or bank account or wallet details of the person or entity you are paying; or
      2. compare the account number or mobile phone number against the details of the person or entity you are paying.
    6. Mukuru will not be responsible:
      1. to the person, or entity you are paying, for any loss or damage you and/or they may suffer because incorrect or incomplete information is provided; and
      2. if you do not complete an instruction or if you do not follow Mukuru’s lawful instructions when transacting.
    7. Transactions cannot be reversed or stopped once you have submitted the transaction instruction to Mukuru via the Mukuru System. 
    8. Mukuru Wallet Transactions incorrectly processed by Mukuru or that have experienced a processing problem and cannot be completed will be refunded.  
    9. If you are unsure if a Mukuru Wallet Transaction has been sent, received or processed, you can check the status by accessing your statement via the Mukuru User Platform.  Do not submit the instruction again.  This can result in duplication of transactions, for which you are liable.
    10. The disposable Electronic Money balance is available on your Mukuru Wallet in either the Moyo Pocket or the Nyanja Pocket (as applicable) at any time. But, please note, some information, like your Mukuru Wallet balance information, may be delayed pending processing of a Mukuru Wallet Transaction.
    11. Mukuru will use its best endeavours to credit Electronic Money transferred to your Mukuru Wallet immediately. Mukuru does reserve the right to make it disposable to you at the moment when Mukuru actually receives the money from payment providers. 
    12. Mukuru will, in its sole discretion, determine whether to credit the incoming Electronic Money to a Customer’s Moyo Pocket or Nyanja Pocket, based on where the money originated from. 
    13. If Electronic Money is transferred to your Mukuru Wallet:
      1. after it has been closed, the transfer will be rejected.
      2. and it has been dormant for more than 12 consecutive months, it will be credited to your Mukuru Wallet, but Mukuru reserves the right to ask you to reactivate your Mukuru Wallet and provide additional identification data or documents. 
    14. You agree that any funds loaded on to your Mukuru Wallet in error do not belong to you; may not be used; and you expressly authorise Mukuru to deduct such funds from your Mukuru Wallet immediately and without notice to you.
    15. Your most recent Mukuru Wallet Transactions will be visible via the Mukuru User Platform. If you need a statement containing your Mukuru Wallet Transactions for the last 90 (ninety) days, you can request one through the User Platform.
  7. Fees
    1. You confirm and acknowledge that:
      1. you are aware that Mukuru charges fees for use of a Mukuru Wallet; and 
      2. different fees may apply to similar Mukuru Wallet Transactions, depending on whether you choose to transact from your Moyo Pocket or your Nyanja Pocket; and
      3. applicable Fees for using your Mukuru Wallet will be automatically deducted from the Electronic Money balance in your Mukuru Wallet; and
      4. if the balance on your Mukuru Wallet is not enough to cover the maintenance Fees, if applicable, the fees will still be deducted from your account and in future if you want to transact via your Mukuru Wallet, you will be required to settle the outstanding balance on your Mukuru Wallet.
    2. Fees will be deducted immediately after confirmation of the completion of the Mukuru Wallet Transaction.
    3. The Fee Schedule sets out the Fees Mukuru may charge and are subject to change.  Please check our website at www.mukuru.com to keep track of any changes. 
    4. All Fees payable are inclusive of all applicable taxes and costs.
    5. Any Fee discount given by Mukuru  will only be applicable for the period specified.
  8. Mukuru Wallet Service Availability
    1. Mukuru will adopt measures necessary to ensure optimal and continuous functioning and quality of the Mukuru Wallet Service. 
    2. Mukuru may suspend or limit the availability of the Mukuru Wallet Service to perform adjustments, maintenance or repairs of the Mukuru System. The suspension or limitation will not be regarded as a breach of Mukuru’s obligations under these T&Cs.
    3. The quality and availability of the Mukuru Wallet Service may also be affected by factors outside Mukuru’s control. These include faults in mobile and telecommunication networks.
  9. Security Measures
    1. These security measures apply to your Wallet as well as to any Mukuru Card that may be linked to your Wallet.
    2. You are responsible for keeping your Mukuru Wallet PIN, username and password safe.  
    3. Never share your PIN, username or password with anyone, including a Mukuru employee or someone claiming to work for Mukuru.
    4. We will never ask you to enter or “confirm” your PIN, username or and/password via an Electronic Message.
    5. If you do share your details (9.2) or respond to a message under 9.3 and you lose money as result of doing so, Mukuru is not responsible and will not refund you.
    6. Subject to 5.2.3, Mukuru is obliged to act on and accept all instructions received from you and/or anyone using your PIN, username and/or password.  Mukuru assumes anyone using your PIN, username and/or password is you.
    7. Mukuru is not responsible and/or liable for any Mukuru Wallet Transactions processed by Mukuru received from anyone using your PIN, username and/or password unless you informed Us by by  calling us on +2659999017013 or sending a Whatsapp to +265 996 145 764 before the Mukuru Wallet Transaction that you suspect or know that your PIN, username and/or password has been lost, stolen or used without your authorisation
    8. If you suspect or know that your PIN, username and/or password has been lost, stolen, uncovered or used without your authorisation, change your password and PIN (where your Mukuru Wallet, SIM or phone has not been lost or stolen) immediately or notify Mukuru immediately by  calling us on +2659999017013 or sending a Whatsapp to +265 996 145 764  and request a stop on your Mukuru Wallet. You can also immediately stop your Mukuru Wallet by using one of Mukuru’s user platforms and then contacting Mukuru to assist you to change your PIN. 
    9. If your SIM card or mobile phone is lost or stolen, you must immediately notify Mukuru, request a stop on your Mukuru Wallet and request that your mobile phone be de-linked from your Mukuru Wallet. 
    10. If you see any activity or transactions on your Mukuru Wallet that you do not recognize (for example money paid out) you must immediately notify Mukuru and request a stop on your Mukuru Wallet.
    11. If you delay notifying Mukuru, as required under 9.7, 9.8 or 9.9, you may be considered negligent and you will be responsible for all Mukuru Wallet Transactions processed through your Mukuru Wallet before your mobile device was de-linked or the Mukuru Wallet was stopped.
    12. After a stop instruction has been received by Mukuru, Mukuru will reject all Mukuru Wallet Transactions processed from that point onwards.
    13. Ensure your mobile device has proper security features/software in place and take other reasonable precautions to ensure the security of your mobile device when accessing or using the Mukuru Wallet.
    14. Mukuru reserves the right to block your access to your Mukuru Wallet at any time to maintain or restore security, if it reasonably believes that your PIN has been or may have been obtained or is being used or may be used by an unauthorised person(s).
    15. You hereby indemnify Mukuru against any damages, loss or liability that Mukuru might suffer as a result of any unauthorised access and/or use of your Mukuru Wallet.
  10. Third Parties
    1. Mukuru is not responsible for any loss or damages you may suffer, whether indirectly or directly, because of a third party, its products or services or your use of the products or services of the third party.
    2. Mukuru is not responsible for third party software.
    3. If at any time, your internet provider, mobile phone provider or electricity supplier is unavailable, Mukuru is not liable for any damages or loss incurred because these services are unavailable.
  11. Liability
    1. You are liable for:
      1. damage suffered if you enter a payment in error and Mukuru processes the payment on your erroneous instruction;
      2. payments made by another person who is logged into your Mukuru Wallet, as you, unless you can prove that your Mukuru Wallet was accessed through Mukuru’s fault; 
      3. damage caused if you misuse your Mukuru Wallet.
    2. Mukuru is not liable for:
      1. any kind of loss or damage you may suffer, including indirect, direct, special, incidental or consequential damages, because of your use of, or inability to use, the Mukuru Service;
      2. any loss or damage, which you or another party, may suffer due to unauthorised interception and/or monitoring;
      3. any loss or damage suffered if you did not take reasonable steps to safeguard the use of your Mukuru Wallet PIN, username and/or password and/or follow the steps recommended by Mukuru;
      4. late or delayed Mukuru Wallet Transactions;
      5. any errors or delays in communication systems outside of its control;
      6. any loss, damage or theft resulting from the use of Automated Teller Machines (ATMS) or Point Of Sale Devices (POS);
      7. except if such loss or damage under 11.2 is caused by Mukuru’s negligence or intent.
  12. Closing your Mukuru Wallet
    1. If you do not owe Mukuru any money you may close your Mukuru Wallet by sending an email to [email protected] or by phoning the Mukuru Contact Centre. Our branch tellers can assist you to do this.
    2. If you close your Mukuru Wallet, you remain responsible to Mukuru for Fees incurred for the use of your Mukuru Wallet up to and including your closing Mukuru Wallet Transaction/s.
    3. Termination
      1. Mukuru may end the agreement with you at any time if:
        1. you commit fraud or Mukuru suspects you have done so;
        2. Mukuru reasonably believes that your behaviour was inappropriate or constitutes misconduct;
        3. if you breach these T&Cs;
        4. if you no longer have access to the resources or services necessary to use the service channels. E.g. Your mobile phone provider removes your registered mobile number from its network or ends your contract;
        5. if you are no longer a Mukuru Customer;
        6. If the law requires Mukuru to do so;
        7. if Mukuru is no longer able to provide the Mukuru Wallet Service.
      2. Mukuru may terminate, suspend or restrict your use of the Mukuru Wallet Service as necessary. If justified, We may also block your Mukuru Wallet with immediate effect. For example, if Mukuru suspects unlawful conduct, that you are not complying with these T&Cs or unauthorised use of your Mukuru Wallet. Your Mukuru Wallet may be unblocked or your access to the Mukuru Wallet Service renewed only after the deficiencies are corrected. 
  13. Dormant Mukuru Wallets
    1. You accept that:
      1. if you do not transact on your Mukuru Wallet for 12 consecutive months your Mukuru Wallet is considered dormant, irrespective of your balance. At least a month before your Mukuru Wallet becomes dormant and when it becomes dormant Mukuru will inform you by messaging your last known mobile number and/or email address.  
      2. Mukuru will transfer any funds remaining in your dormant Mukuru Wallet to the Reserve Bank of Malawi;
      3. You cannot transact from your dormant Mukuru Wallet;
      4. To reactivate your Wallet, you will need to contact Mukuru and complete the necessary form as well as provide the required evidence that you have a legitimate claim to the money in the dormant Mukuru Wallet;
      5. A dormant Mukuru Wallet may only be reactivated if it has been dormant for less than 7 years;
      6. Fees on your Mukuru Wallet will still be charged if applicable. 
  14. General
    1. Waiver or Relaxation:  A failure to act to enforce a right under these T&Cs does not mean that Mukuru granting the “allowance” has waived its right to enforce the T&Cs strictly.  
    2. Assignment:  The Mukuru Service is provided exclusively to you, the registered and verified Mukuru Customer.  You are not allowed to share with, assign or transfer your Mukuru Wallet or your obligations set out in these T&Cs to any third party. You will be held liable for losses suffered if you break these T&Cs.
    3. Applicable Law & Jurisdiction:  These T&Cs will be governed by and interpreted in accordance with the laws of the Republic of Malawi without giving effect to conflict of law provisions.
  15. Important Mukuru Links
    1. Website: https://www.mukuru.com
    2. Privacy Notice: https://www.mukuru.com/mw/data-protection/