Terms of use

These Terms of Use (the “Terms”) represent a legally binding contract between you (“the User”) and CashXpress Nigeria Limited (CashXpress, “we” or “us”). By accessing or using content; services and materials on CashXpress’ website located at [https://cashx.ng/] (the “Website”), any of the services provided therein (together with the Website, the “Services”), you agree that you have read, understood, accept and agree to be bound by these Terms. If you do not agree with any of these Terms, do not access or otherwise use the Services.

PLEASE READ AND UNDERSTAND THE TERMS OF THE AGREEMENT CAREFULLY BEFORE ACCEPTING ITS TERMS.

These terms include, among other things, your authorisation for debits and credits from and to your bank account as defined below:

1. About Us

CashXpress is an online versatile finance solution that provides loan services for individuals, thereby fulfilling their financial needs and obligations. CashXpress may vary the services from time to time at its absolute discretion, and the users shall be notified of any such variations where necessary. Any changes will be posted on the Website(s).

These Terms of Use are an Agreement between you and CashXpress. It details our obligations to you. It also highlights the risks of using our Services, and you are required to consider such risks carefully, as the provisions of this Agreement will bind you through your use of this Website or any of our Services.

You understand that by using the Platform and clicking accept when prompted on the Platform, where applicable, you agree to be bound by these Terms of Use for Users.

2. Privacy Notice

CashXpress is committed to managing your Personal data in line with global industry best practices. You can read our [Privacy Notice] and our [Cookie Notice] to understand how we use your information and the steps we take to protect your information.

3. Registration

4. Personal Data and Information Collected

We may collect, use, store and transfer different kinds of personal data about You, which we have grouped as follows:

1. Identity Data - First name, maiden name, last name, username or similar identifier, marital status, title, date of birth, photograph/photo ID, National Identification Number (NIN), gender, and employer details.
2. Contact Data - Residential address, email address and telephone numbers.
3. Financial Data - Bank verification number (BVN), bank account details, card details, and income details.

CashXpress reserves the right to obtain necessary information from relevant third parties regarding Your employment details, salary payment history, loans, and other related data. This information will be used solely to assess and make a decision on Your loan application. CashXpress further reserves the right to request additional information or documentation from You or any applicable third party to assess Your eligibility for a Loan.

At the end of the loan agreement, You can request the deletion of Your Account and all collected information.

5. Eligibility

Our Website and Services are not directed to persons under 18 years old. We do not knowingly transact or provide any services to persons under 18. Using the Site, you represent and warrant that you meet all of the eligibility requirements. If you do not meet these requirements, you are not permitted to access or use the Platform.

Creating an account does not guarantee loan request approval. CashXpress holds the sole discretion for loan request approval upon meeting the following requirements:

• You are a Nigerian citizen
• You are over 18 years old
• You must have a BVN, a bank account and a phone number
• You must have a consistent source of income
• You cannot be in default on any other loan previously.

You are independently responsible for complying with all applicable laws related to your use of our Website and Services.

6. Loan Services

7. Account Linkage to Bank Card

You may be asked or required to link your bank card to your Account to enable automated Direct Debits. By linking your Account to a bank card, you agree to the following terms regarding automated Direct Debits and potential arrangements for direct debits in the event of loan default:

1. By binding your Bank Card, you authorise and facilitate Direct Debits for the purpose of loan repayment, where You have chosen direct debit as your repayment plan;
2. In the event of default on the loan, You acknowledge and agree that, if necessary, Direct Debits may be initiated from Your linked bank account to fulfill outstanding payment obligations. This authorisation covers the outstanding loan amount and any applicable fees or charges;
3. You are responsible for ensuring the accuracy of the bank card information provided for linkage. Any linked bank card details changes must be promptly updated on Your Account;
4. You may revoke the authorisation for automated Direct Debits before the expiration of Your Loan. Revocation of authorisation does not exempt you from meeting existing financial obligations, and alternative repayment methods may be required.

8. Change of Information

The User may at any time and from time to time notify us in writing of a change of any information provided to us at registration, including your address. We may be unable to respond to you if you contact us from an address, telephone number, or email account that is not registered with us.

9. Representations and Warranties

You represent and warrant to CashXpress that:

• You have full power and authority to enter into, execute, deliver and perform this Agreement;
• You will comply with this Agreement and all applicable local, state, national, and international laws, rules, and regulations;
• Any information you provide to us, both when you register and in the future, is and will be true, accurate, current and complete;
• You will keep all information up-to-date;
• You agree and permit your authorised Administrators to use your Account only in the manner and for the purposes described in this Terms of Use;
• You will only use your Account for legal transactions. We will not be held liable if you engage in illegal transactions;
• You agree to take reasonable precautions to prevent unauthorised usage of your Account or disclosure of your PIN code; and
• You accept and agree to these Terms.

You agree to indemnify us against any and all actions, claims, costs, damages, demands, expenses, liabilities, fines, sanctions, losses and proceedings we directly incur or which are brought against us if you, or your administrators, have acted fraudulently, been negligent, failed to comply with your legal obligations, or have misused the Account, the platform, or any of the Services.

10. Account Security

You will also take all reasonable steps to protect the security of the personal electronic device through which you access our Services (including, without limitation, using PIN and/or password-protected personally configured device functionality to access our Services and not sharing your device with other people). You are responsible for securely managing your password(s) for the Services and contacting us if you become aware of any unauthorised access to your Account.

You agree not to allow anyone else to access or use your password details and comply with all reasonable instructions we may issue regarding account access and security. If you share your password details, CashXpress will not be liable to you for losses or damages.

11. Communications

CashXpress communicates by text messages, email, push notifications, and other alerts. To use the Services, you are required to provide and verify your mobile device number or other text message address to us, and you are required to expressly consent to receive text messages relating to the Services at that number or address. This is a condition of the Services provided to you by CashXpress.

Third-party data and message fees may apply. Text messages may include pre-recorded, autodialed and promotional messages. You may instruct us not to send promotional or marketing emails by clicking the “Unsubscribe” link at the bottom of those emails or sending an email to [email protected].

12. Links to or Connections with Third-Party Sites or Applications

Our Services or communications to you may contain third-party content or links to third-party sites, applications, or services (collectively, “Third-Party Content”). Our Services may also include features that allow you to connect your Account with accounts or services provided by third parties, such as accounts you maintain with financial institutions or social media platforms like Facebook (collectively, “Third-Party Services”). We do not control, maintain, or endorse the Third-Party Content or Third-Party Services, and we are not liable for any Third-Party Content or Third-Party Services, including any damages, losses, failures, or problems caused by, related to, or arising from Third Party Content or Third Party Services. Your interactions and business dealings with the Third-Party Content or Third-Party Services providers, including products or services offered by such third parties, are solely between you and the third party. You should review all the relevant terms and conditions associated with Third-Party Content or Third-Party Services, including any privacy notices and terms of service. We are not responsible for any information you agree to share with third parties connected with Third-Party Content or Third-Party Services. Any links or advertisements on this Website should not be taken as our endorsement.

13. Unacceptable Use

You may only use the Services for your own personal, non-commercial use and not on behalf of or for the benefit of any third party. Your use of the Services must comply with all applicable laws. If your use of the Services is prohibited by applicable law, then you are not authorised to use the Services. We are not responsible if you use the Services in any manner that violates applicable law.

You agree not to authorise any other person or entity to use your username, password, or mobile device to access the Services. You are solely responsible for maintaining the confidentiality and security of your username, password, and other User Information. Except as otherwise required by applicable law, you are responsible for all transactions and other activities authorised or performed using your username and password or mobile device, whether authorised or unauthorised by you. Except as otherwise expressly stated in these Terms or required by applicable law, we are not responsible for any losses arising from the loss or theft of your User Information or your mobile device or from unauthorised or fraudulent transactions associated with your Bank Account, your Klik Account. If you suspect or become aware of any unauthorised activity or access to your username, password, or mobile device, you are required to contact us immediately at [email protected].

We offer the Services and the features, information, materials, and content provided and depicted through the Services (collectively, “Content”) solely for your personal use for the purposes described therein and in these Terms. All other uses are prohibited. You may not restrict or inhibit anyone from using or enjoying the Services or Content.

The Services and Content are protected by copyright, trademark, patent, and other intellectual property laws. We expressly reserve all rights and remedies under applicable law. Except as expressly provided by these Terms or with our prior written consent, you may not use, modify, disassemble, decompile, reverse engineer, reproduce, distribute, rent, sell, licence, publish, display, download, transmit, or otherwise exploit any Content in any form by any means. Without limiting the foregoing, you agree not to (and not to allow any third party to): (a) use any robot, spider, scraper, or other automatic or manual device, process, or means to access the Services or copy any Content, except as expressly authorised by us; (b) take any action that imposes or may impose (in our sole determination) an unreasonable or a disproportionately large load on the Services or our infrastructure; (c) utilise any device, software, or routine that will interfere or attempt to interfere with the functionality of the Services; (d) rent, lease, copy, provide access to, or sublicense any portion of the Services or Content to a third party; (e) use any portion of the Services or Content to provide, or incorporate any portion of the Services or Content into, any product or service provided to a third party; (f) reverse engineer, decompile, disassemble, or otherwise seek to obtain the source code of the Services or Content; (g) modify the Services or Content or create any derivative product from any of the foregoing; (h) remove or obscure any proprietary or other notices contained in the Services or Content; (i) use the Services or Content in any way that is illegal, harmful, fraudulent, deceptive, threatening, harassing, defamatory, obscene, or otherwise objectionable, as we may determine in our sole discretion; (j) jeopardise the security of your Account or any other person’s Account (such as allowing someone else to use your username and password to access the Services); (k) attempt, in any manner, to obtain the username, password, account, or other security information from any other user of the Services; (l) violate the security of any computer network or crack any passwords or security encryption codes; or (m) run Maillist, Listserv, any form of auto- responder or “spam,” or any processes that run or are activated while you are not logged in to access the Services. We may, but are not obligated to, monitor your use of the Services and Content.

We do not grant you any licences, express or implied, to our intellectual property or our licensors’ intellectual property, except as expressly stated in these Terms. We and our third-party licensors retain all rights, titles, and interests in and to the Services, Content, and any associated patents, trademarks, copyrights, mask work rights, trade secrets, and other intellectual property rights.

The Services may permit you to submit content, send emails and other communications, and provide other information for publication or distribution to third parties (collectively, “User Content”). Any User Content must not be illegal, threatening, obscene, racist, defamatory, libellous, pornographic, infringing of intellectual property rights, promoting of illegal activity or harm to groups and/or individuals, invasive of privacy, purposely false or otherwise injurious to third parties, or objectionable and must not consist of or contain software, computer viruses, commercial solicitation, political campaigning, chain letters, mass mailings, or any form of “spam.” If you submit User Content, and unless we indicate otherwise, you grant us a nonexclusive, perpetual, royalty-free, irrevocable, and fully sublicensable (through multiple tiers) right to use, modify, reproduce, adapt, translate, publish, create derivative works from, distribute, display, and otherwise exploit such User Content throughout the world in any media. We take no responsibility and assume no liability for any User Content submitted by you or any other user or third party.

To the extent permitted by applicable law, we may, in our sole discretion and without liability to you, terminate (or suspend access to) your use of the Services, Content, or your Account for any reason, including, but not limited to, your breach of these Terms.

14. Managing Your Account

The Services may allow the creating of corporate accounts for companies on our platform. After the User creates an Account and it has been verified, the User can receive a corporate account for a company by uploading all the company’s requested documents for verification. Such corporate accounts will be added to the User’s account interface in the “Accounts” section.

All intending corporate users are required to pass the verification procedure. CashXpress reserves the right to request a list of the company’s corporate documents, including but not limited to incorporation documents, depending on the organisational and legal form of the company.

Users who have verified their Account can grant permission to other participants in the company’s business (for example, partners, accountants, etc.) to access the corporate account (“Administrator”).

You must specify at least one Administrator to manage your Account when registering. Administrators can add, remove, or manage additional Administrators; request loans; set or change limits; view transactions; run reports and download statements; provide, view or update company data and personal data; connect linked Accounts, third-party services, and other accounts to your Account; and perform other tasks on your behalf. You are responsible for any actions or failure to act on the part of Administrators, Users, and those using credentials issued to Administrators to access an Account.

15. Refusing to Deal with Administrators

We may refuse access to Administrators for objectively justified and duly evidenced reasons relating to unauthorised or fraudulent access to your corporate account, money laundering, terrorist financing, fraud, or any other financial crime, and as required by applicable law. In such cases, unless we are prohibited by applicable law, we will inform you that the Administrator’s access has been denied and the reasons why. We will permit access again once we are satisfied that the reasons for refusing access no longer exist.

You will be required to accept these Terms of Use to become Users and may also be subject to accepting terms presented by financial institution partners.

16. Reliance on information posted

Nothing on our site is intended to amount to advice on which reliance should be placed. We, therefore, disclaim all liability and responsibility arising from any reliance placed on such materials by any visitor to our site or by anyone who may be informed of any of its contents.

Any prices/figures on our site are not an offer to you to provide any Services at that price. Your application to us is an offer to purchase Services. Prices/figures on our site can change anytime, even after you submit your application.

17. Viruses

We do not guarantee that the Websites will be secure or free from bugs or viruses. You are responsible for configuring your information technology, computer program, phone, devices and platform to access the Websites. You should use your own virus protection software. You must not misuse the Websites by knowingly introducing viruses, trojans, worms, logic bombs or other malicious or technologically harmful material. You must not attempt to gain unauthorised access to the Websites, the server on which the Websites are stored, or any server, computer or database connected to the Websites.

We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our site or to your downloading of any content on it, or any website linked to it.

18. Intellectual Property

19. Disclaimer

20. Limitation of Liability

21. Payment Terms and Processing Fees

Payments through credit and debit cards are collected online without hassle. You should provide your card number, the expiry date of the card, and its security number. No card or financial data is saved or stored on our systems, and no additional fees except the interest and loan amount are charged. The money is deducted once the user clicks on “Pay Amount”. The transactions are 100% secure.

22. What do I do if my mobile device is lost or stolen or if I suspect someone has gained unauthorised access to my username or password?

If your mobile device is lost or stolen or you suspect someone has gained unauthorised access to your username or password, you must contact us immediately at [email protected]. To take any action, you must provide certain User Information so we can verify your identity.

23. Indemnity

You agree to defend, indemnify, and hold CashXpress, its officers, directors, employees, agents, licensors, and suppliers harmless from and against any claims, actions or demands, liabilities and settlements, including without limitation, reasonable legal and accounting fees, resulting from, or alleged to result from, your violation of this Agreement.

24. Exclusions

Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for certain damages. Accordingly, some of the above disclaimers and limitations of liability may not apply to you. To the extent that any Party may not, as a matter of applicable law, disclaim any implied warranty or limit its liabilities, the scope and duration of such warranty and the extent of CashXpress Party’s liability shall be the minimum permitted under such applicable law.

25. Termination

26. Effect of Termination

27. Notice

CashXpress may give notice by means of a general notice on the Services, electronic mail to your email address in your Account, telephone or text message to any phone number provided in connection with your account, or by written communication sent by first-class mail or pre-paid post to any address connected with your Account.

Such notice shall be deemed to have been given upon the expiration of 48 (forty-eight) hours after mailing or posting (if sent by first class mail or pre-paid post) or 12 (twelve) hours after sending (if sent by email or telephone). You may give notice to CashXpress, with such notice deemed given when received by CashXpress, at any time by first class mail or pre-paid post to our registered office address for service of process or email for general communication.

28. Applicable Law

This Agreement, the Site Terms of Use, the other Terms of Service, and any Claim will be governed by and construed in accordance with the laws of Nigeria.

29. Dispute Resolution

We shall make an effort to settle all disputes amicably. Any dispute arising out of this Terms of Use, which cannot be settled by mutual agreement/negotiation within 1 (one) month shall be referred to Mediation at the Lagos State Multi-Door Courthouse (LMDC) for resolution under the provisions of Lagos State Multi-Door Courthouse (LMDC) Law 2007.

Where Mediation fails, both parties agree to resort to Arbitration before the Lagos Court of Arbitration (LCA) under the Arbitration and Mediation Act 2023 (AMA) provisions. The decision of the LCA shall be binding on both parties, where it does not raise an objection within 6 (six) months from the decision.

30. Force Majeure

When circumstances beyond your or our control arise, You and CashXpress will temporarily be relieved from performing our obligations under this Agreement.

You and CashXpress will not be responsible for any delay or failure to perform any obligation under this Agreement for a reasonable period due to labour disturbances, accidents, fires, floods, pandemics, telecommunications or Internet failures, strikes, wars, riots, rebellions, terrorism, blockades, acts of government, governmental requirements and regulations or restrictions imposed by law or any other similar event beyond the parties’ reasonable control.

31. Severability

Where any portion of these Terms of Use is deemed invalid or unenforceable either in whole or in part by any court or tribunal, such part shall be severed from the Terms of Use. It shall not affect the validity or enforceability of any other part of this Terms of Use.

32. Updates, Modifications, and Amendments

As our technology evolves, we may need to update, modify, or amend our Terms of Use, tools, utilities, or general updates. We reserve the right to make changes to this Terms of Use at any time without notice to you.

Updates or upgrades may include security or bug fixes, performance enhancements, or new functionality and may be issued with or without prior notification to the User. The User hereby consents to such automatic updates.

Please check this page often, referring to the date of the last modification on the page to ensure you are familiar with the current version of the Terms of Use. If a User objects to any of the changes to the Terms of Use, the User must cease using our Website and/or Services immediately.

33. Feedback and Complaint

The User agrees to use commercially reasonable efforts to provide feedback to CashXpress regarding the Services and agrees that CashXpress shall have all rights, title, and interest in and to all comments, suggestions, and other feedback (collectively, “Feedback”) provided by the User to CashXpress related to the Products. The User shall and hereby irrevocably transfer and assign to CashXpress all rights, titles and interests it may have in such Feedback to CashXpress, and CashXpress hereby accepts such transfer.

If you have any complaints or reservations about us or any of the Services we provide, you may contact us at [email protected].

34. Definitions

In these Terms and Conditions, the following words and expressions bear the following meaning:

• “Account” means the personal virtual borrower’s profile created and maintained by You on the App or on our website;
• “App” means the CashX mobile application or protected area of cashx.ng website owned and operated by CashXpress or any of its affiliates and partners;
• “Applicable Law” means Companies and Allied Matters Act (CAMA), Money Lenders Law, Federal Competition and Consumer Protection Act (FCCPA), Nigeria Data Protection Regulation, Federal Inland Revenue Service (Establishment) Act and all other applicable laws, by-laws, enactments, regulations, regulatory policies, ordinances, protocols, industry codes, regulatory permits, regulatory licences, etc. and having jurisdiction of the courts of the Federal Republic of Nigeria in any related matter arising from it;
• “Borrower” means a registered user or account holder who uses our Services by obtaining loan from the Platform;
• “CashXpress”: means CashXpress Nigeria Limited and / or its affiliates, officers, directors, and employees that offers You the Services contemplated under these Terms and Conditions;
• “Content”: any or a combination of materials may include logos, text graphics, videos, images, photos, software and other content;
• “Loan Maturity Date” means the date specified by CashXpress as the date for the final repayment of the Loan at the time of granting You the Loan;
• “Overdue Interest” means the default fee that shall apply on the Loan and Interest during the Rollover Period;
• “Direct Debits” means the automatic electronic fund transfers usually authorised by the borrower, facilitating seamless payments from their linked bank account or credit/debit card to cover loan obligations;
• “Interest” means the additional cost charged on the loan principal, representing the fee for borrowing, usually expressed as a percentage;
• “Grace period” means a specified period beyond the loan’s due date, allowing the borrower additional time to make the payment without incurring penalties or default consequences;
• “Linked Account” means the act of connecting a bank account or debit/credit card to Your CashXpress Account to facilitate transactions, including loan repayments through direct debits;
• “Loan Extension” means opportunity to rollover part or total outstanding loan;
• “Loan Period” means the initial term of the Loan as indicated in the App and/or Website;
• “Loan Service” means the services (including the granting of loans) provided on the App or our Website;
• “Loan Amount” means the principal amount granted to You by us upon Your request through the App or the Website from time to time or (as the context requires) the principal amount outstanding for the time being of that loan;
• “Loan Principal” means the original amount borrowed, excluding interest, forming the core debt to be repaid;
• “Materials” any logos, text graphics, videos, images, photos, software and other content available on the Website;
• “Platform” means the Website, mobile app or any electronic medium in which we offer our Services to You;
• “Transaction Fees” includes any fees and charges payable for the use of the Loan Service or by such other means as CashXpress shall in its sole discretion determine. Transaction Fees are subject to change at any time with prior notice;
• “Website” means our world wide web platform available at: https://cashx.ng/ or any future iterations thereof;
• “You” means You, as a borrower or user of the Loan Service (through the App or our Website), and all similar words herein referring to or in connection with You shall be construed accordingly.