Terms of Use

1. Acceptance of Terms and Eligibility

By registering, accessing, or using TruePeer, you acknowledge that you have read, understood, and agree to these Terms. If you disagree, discontinue use immediately.

• You must be at least 18 years old and legally able to enter into a contract.
• You may hold only one TruePeer account, in your own name. Accounts opened with someone else's identity, or several accounts controlled by one person, may be closed.
• You must give accurate information and keep it up to date, including your phone number, email address and residential address.
• You are responsible for everything done through your account and for keeping your password, transaction PIN, device and one-time codes private.

2. Description of Services

Depending on your verification tier and your country, TruePeer lets you:

• Hold and move naira. Add money by bank transfer into virtual account numbers issued in your name by our partner banks and licensed payment providers, or by card. Pay out to any Nigerian bank account.
• Hold and move crypto. Receive, hold and send supported cryptocurrencies on supported networks; swap crypto for naira and naira for crypto; and sell crypto directly to a bank account.
• Pay other TruePeer users instantly by username, request money from them, and split a bill with them or with guests who do not have an account.
• Pay bills such as airtime, data, electricity and TV subscriptions through our billing partners.
• Save with others in Circles, a rotating group savings arrangement (see Section 8).
• Get paid in dollars through a personal pay page that accepts supported stablecoins (see Section 9).
• Download account statements, use the TruePeer web app, earn referral rewards, and reach our support team in the app.

3. Account Security, Devices and Sessions

• Your account can be signed in on one device at a time. Signing in on a new device signs the previous device out, and we may ask you to confirm a code sent to your email before a new device can access your account.
• Your transaction PIN, fingerprint or face unlock on your device, and one-time codes are your signature. A transaction confirmed with them is treated as made by you.
• TruePeer staff will never ask for your password, transaction PIN, one-time code or wallet private keys. Do not share them with anyone.
• Tell us immediately through in-app support if you believe your account or device has been compromised. We can sign out every device and block further activity while we investigate.
• We may require two-factor authentication, re-verification, or additional checks at any time to protect your account.

4. Verification, Tiers and Limits

You must complete identity verification (KYC) to use most services. Verification may require your Bank Verification Number (BVN) or National Identification Number (NIN), a photograph of a government-issued identity document, a live selfie check, and proof of your residential address. These checks are performed with licensed identity-verification providers, and by starting a verification you consent to that processing as described in our Privacy Policy.

• Proof of address may be confirmed by comparing the document you submit with your device's location while the app is open, if you choose to allow it. We never use your location in the background.
• Your verification tier sets your transaction and balance limits. Limits are shown in the app and may change.
• The selfie from an approved verification becomes your profile photo, so that people you send money to, or save with in a Circle, can recognise you. You can replace it with another photo at any time in Settings.
• We may ask you to verify again, or provide further information about the source of your funds or the purpose of a transaction, and we may limit your account until you do.

Providing false, borrowed or altered identity information is a breach of these Terms and may lead to account termination and reporting to the relevant authorities.

5. Fees and Charges

Every fee is shown in the app before you confirm a transaction. Fees may include:

• A charge on bank deposits into some virtual accounts, set by the partner provider and shown on the account details.
• A payout fee on transfers to bank accounts, and stamp duty where Nigerian regulation requires it.
• On crypto withdrawals, a service fee plus the network fee needed to settle the transaction on the blockchain. Network fees vary with network conditions.
• On swaps and crypto-to-bank sales, a rate that includes our spread. The exact amount you receive is quoted before you confirm.
• Fees charged by billers, banks or card issuers, which are outside our control.

Sending money to another TruePeer user by username is free. We may change fees with prior notice in the app.

6. Sending Money and Finality

• Check the recipient before you confirm. A payment to the wrong username, bank account, wallet address or blockchain network cannot be reversed by TruePeer once it has been sent.
• Crypto sent on the blockchain is final once confirmed. Crypto sent to an unsupported token or network, or to a wrong address, is lost.
• Bank payouts are passed to our partner providers for settlement. Timing depends on the receiving bank and on our security checks. If a payout fails, the money is returned to your balance.
• Transfers to other TruePeer users are instant unless held for a security check (Section 7). Both sides see a held transfer as pending in their history.
• Where money is credited to you in error, we may reverse it and you agree to return it.

7. Security Checks, Holds and Reviews

To protect you and to meet our legal obligations we check every transaction. Depending on the amount, the age of your account and the risk we see, we may:

• Ask you for a one-time code sent to your email, in addition to your PIN, before a large send goes out.
• Hold a send for review by our compliance team. You can close the app and follow the status in your transaction history; we notify you when it is released or declined.
• Apply a waiting period to large sends from a new account. During that period you can stop the send yourself from your transaction history and the money returns to your balance.
• Screen crypto addresses and counterparties against sanctions and fraud lists, and decline or hold a transaction that fails screening.
• Decline, delay, reverse or freeze any transaction or balance, limit or suspend your account, and ask for supporting documents, where we reasonably suspect fraud, money laundering, sanctions breaches or other unlawful activity, or where the law requires it.
• Pause a service (for example bank payouts or swaps) temporarily during an incident with a partner or network.

We report suspicious activity to the relevant authorities as the law requires and may not be able to tell you when we do.

8. Circles (Group Savings)

A Circle is a rotating savings arrangement between TruePeer users: members contribute an agreed amount each round and each round's total is paid to one member in turn. TruePeer provides the tool; the arrangement is between the members.

• Every contribution is a transfer from your balance to the round's recipient. There is no pool held by TruePeer.
• By joining a Circle you commit to contribute for every round of the cycle. Contributions are taken from your balance when due, or as soon as money arrives in your account if your balance was short.
• If you miss a contribution, the amount you owe is deducted from your own payout, and until it is settled you cannot send money out of your account, start a new Circle or accept an invitation.
• The creator may set a late fee, capped at 10% of the contribution, charged on contributions settled more than 72 hours late and paid to that round's recipient.
• Payout order may place members with a proven contribution record first. Your record (circles completed and contributions missed) is shown to people who invite you or save with you.
• TruePeer does not guarantee that other members will contribute and is not a party to disputes between members. We may remove a member or close a Circle to prevent harm or abuse.

Circles are a savings tool, not an investment product, and pay no interest.

9. Payment Requests, Splits and Pay Pages

• A payment request or split is an invitation to pay, not a guarantee that you will be paid. Payers can decline. Do not use requests to collect money for goods or services you will not deliver.
• Split links can be paid by people without a TruePeer account. Your name and the amounts are visible to anyone who has the link.
• Your dollar pay page (for example me.truepeer.app/@username) is public: anyone with the link sees your name, username and profile photo and can send supported stablecoins to it. Incoming payments from sanctioned or high-risk addresses may be held or returned.
• If you change your username, your old pay link redirects to the new one for 30 days and the old username is reserved for that time.
• You are responsible for the lawfulness of what you are paid for and for any tax on money you receive.

10. Bill Payments

• We pass your payment to the biller through our billing partners. Delivery of the airtime, data, power token or subscription is the biller's responsibility.
• Check the phone number, meter number or smart-card number before you confirm; payments to a wrong identifier usually cannot be recovered.
• If a biller confirms that a payment failed, we refund your balance. If a biller reports success, we rely on that report.

11. Referral Programme

• You may earn a reward when someone signs up with your referral code, completes verification and completes the qualifying transactions shown in the app within the stated period. The reward amount, conditions and any daily caps are shown in the app and may change or be paused at any time.
• Rewards are credited to a referral balance and can be moved to your wallet from the app.
• Referrals between accounts that share a device, phone number or identity details do not qualify. Self-referral, paying people to sign up, or any other abuse forfeits rewards and may lead to account closure.

12. Risk Disclosure

Cryptocurrencies are volatile and may lose value, including all of it. Stablecoins can lose their peg. Blockchain networks can be congested or halted. TruePeer does not give investment, tax or legal advice and does not guarantee profits or protection against market losses. Only send crypto on the networks and tokens the app supports.

13. Customer Support and Communications

TruePeer provides an in-app support chat where our team can help you with your account. By using it you understand and agree that:

• Support conversations, including attachments, are recorded and retained in line with our Privacy Policy, and may be used to resolve disputes and meet regulatory obligations.
• Your conversation may be handled by different members of our support team, who can see the conversation history and relevant account details in order to assist you.
• Attachments are limited to images and PDF documents up to 5MB. We may remove attachments that are unlawful, harmful, or unrelated to your request.
• Abusive, threatening, or fraudulent conduct towards support staff is not tolerated and may result in restricted access to support or the platform.
• TruePeer staff will never ask for your password, transaction PIN, one-time codes or wallet private keys. Anyone who does is not TruePeer — do not share them.

We send service notifications (transaction alerts, security alerts, verification updates, Circle and payment-request activity, and support replies) by push notification, browser notification, in-app message, SMS or email. You can manage notification preferences in your device or browser settings; essential security and service notices may still be delivered.

14. Prohibited Activities

You must not use TruePeer to:

• Launder money, finance terrorism, evade sanctions, or move the proceeds of crime.
• Open or operate an account with someone else's identity, operate several accounts, or sell, lend or hand over your account to anyone.
• Defraud other users, billers or TruePeer, including by abusing requests, splits, Circles or the referral programme.
• Interact with mixers, darknet markets, sanctioned addresses or other services we or the law prohibit.
• Interfere with the platform, probe or reverse-engineer it, or use automated tools against it without our written permission.
• Break any law that applies to you.

15. Suspension, Termination and Closing Your Account

• We may limit, suspend or terminate your account if you breach these Terms, if we suspect fraud or unlawful activity, if a regulator or court requires it, or if your account poses a security risk. Where the law allows, we will tell you why.
• While an investigation is open we may hold your balance. Money that is not subject to a legal hold is returned to a bank account or wallet in your name once the investigation ends.
• You can close your account from the app or by contacting support, after moving out your balance and settling anything you owe in a Circle. Some records must be kept after closure as described in our Privacy Policy.

16. Limitation of Liability

TruePeer and Alveus Technology shall not be liable for indirect, incidental, or consequential damages, including loss of funds due to user error, payments to a wrong recipient, third-party service or network failure, partner bank downtime, or market conditions. Nothing in these Terms limits liability that cannot be limited by law.

17. Complaints and Disputes

Raise any complaint through in-app support first; we aim to acknowledge it within one business day. If you are not satisfied with our answer you may escalate to support@alveustechnology.com and, where applicable, to the relevant regulator. These Terms are governed by the laws of the Federal Republic of Nigeria, and disputes will be resolved in accordance with Nigerian legal procedures.

18. Updates and Modifications

TruePeer may update these Terms from time to time. We will tell you about material changes in the app or by email before they take effect. Continued use of the platform after such updates constitutes acceptance of the revised terms.

19. Contact Information