Mukuru Wallet Terms and Conditions – Malawi

  1. Introduction
    1. SMH Malawi Bureau de Change (Proprietary) Limited trading as Mukuru Bureau de Change, Reg. No. CO2012/7660 (“Mukuru”, “We” or “Us”) assists with the operation of the Mukuru Money Transfer Service and operates the Mukuru Wallet Service in Malawi. 
    2. The Mukuru Wallet Service enables a Mukuru Customer in Malawi to hold and operate a single Mukuru Wallet. 
    3. These T&C’s govern your access and use of the Mukuru Wallet Service in Malawi. Once you accept these T&C’s they form a binding agreement between you and Mukuru.
    4. These T&Cs must be read with the Terms of Use of the Mukuru Service. These T&Cs will apply if there is any conflict between the two.
    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. “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).
    2. “Electronic Money” is an electronic store of monetary value, denominated in Malawi Kwacha, on a device used for making payments to persons and entities.
    3. “Fee” the fee charged by Mukuru for each Mukuru Wallet Transaction.
    4. “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.
    5. “Mukuru Customer” means a person who is registered as a user of the Mukuru Money Transfer Service in Malawi.
    6. “Mukuru Money Transfer Service” means the money transfer service which enables the remittance of funds from senders to recipients.
    7. “Mukuru System” is the transaction processing system used to provide the Mukuru Money Transfer Service and the Mukuru Wallet Service in Malawi.
    8. “Mukuru Wallet” means a digital wallet which:
      1. is linked to a Mukuru Customer’s mobile phone 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 process payment related services using a mobile device without requiring a bank account.
    9. “Mukuru Wallet Service” means the service We provide that enables you, a Mukuru Customer to use a Mukuru Wallet.
    10. “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).
    11. “User Platforms” 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 and a Mukuru Customer can only hold one 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.  
    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 activate 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. All providers contracted to Mukuru are entitled to act on all instructions given to it by Mukuru on your behalf in respect of your Mukuru Wallet by the product provider concerned;
      2. 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;
      3. 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. 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, including any minor children, 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. These limits are published on Mukuru’s website.
    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 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. No interest is paid on the Electronic Money balance on your Mukuru Wallet.
    12. 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. Mukuru retains the right to debit the Electronic Money credited to your Mukuru Wallet if Mukuru fails to receive the transferred money in a standard period. If this happens, your Electronic Money balance will be reduced by the amount of money Mukuru failed to receive. If your Electronic Money balance is not enough to do that, we reserve the right to ask you to pay in the difference. 
    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. 
  7. Fees
    1. You confirm and acknowledge that:
      1. you are aware that Mukuru charges fees for use of a Mukuru Wallet; and 
      2. applicable Fees for using your Mukuru Wallet will be automatically deducted from the Electronic Money balance in your Mukuru Wallet.
      3. if the balance on your Mukuru Wallet is not enough to cover the Fees, 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 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 be shown in the Fee Schedule and 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. You are responsible for keeping your Mukuru Wallet PIN, username and password safe.  
    2. Never share your PIN, username or password with anyone, including a Mukuru employee or someone claiming to work for Mukuru.
    3. We will never ask you to enter or “confirm” your PIN, username or and/password via an Electronic Message.
    4. 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.
    5. 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.
    6. 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 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.
    7. If you suspect or know that your PIN, username and/or password has been lost, stolen 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 and request a stop on your Mukuru Wallet .
    8. 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. 
    9. 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.
    10. 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 you mobile device was de-linked or the Mukuru Wallet was stopped.
    11. After a stop instruction has been received by Mukuru, Mukuru will reject all Mukuru Wallet Transactions processed from the date on which your PIN was cancelled/your mobile device has been de-linked, whichever is applicable.
    12. 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.
    13. 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).
    14. 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; and
      4. 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.
      5. 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);
      7. except if such loss or damage under 11.2 is caused by Mukuru’s negligence or intent.
  12. Retention of Personal Information
    1. We keep your personal information to enable your continued use of the Mukuru Wallet Services, for as long as it is required in order to fulfil the relevant purposes described in our Privacy Notice, as may be required by law, or as otherwise communicated to you. How long we retain specific personal information varies depending on the purpose for its use, and we will delete your personal information in accordance with applicable law.
    2. 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. 
  13. Closing your Mukuru Wallet
    1. If you do not owe Mukuru any money you may close your Mukuru Wallet by sending an email to wallet@mukuru.com or by phoning the Mukuru Contact Centre.
    2. If you close your Mukuru Wallet, you remain responsible to Mukuru for Fees incurred and all Mukuru Wallet Transactions received by Mukuru 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 if the deficiencies are capable of being corrected and are.  
  14. 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. If your Mukuru Wallet becomes dormant Mukuru will inform you by messaging your last known mobile number and/or email address.  We will inform you of how to reactivate your Mukuru Wallet;
      2. you cannot transact from your dormant Mukuru Wallet.  Please contact Mukuru to request reactivation;
      3. Fees on your Mukuru Wallet will still be charged. 
  15. 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.