TERMS AND CONDITIONS OF USE FOR THE TRANSFER SERVICE
The purpose of these Terms and Conditions of Use, hereinafter referred to as the "Ts&Cs", is to define the terms and conditions of use of the transfer service (hereinafter referred to as the "Service") between a Wave Transfer Limited Customer Account and one or more Guaranty Trust Bank Limited Customer Account(s).
The Service is offered as part of a partnership between:
Guaranty Trust Bank (Gambia) Limited, a company incorporated in The Gambia and having its registered office at 56 Kairaba Avenue, Fajara, The Gambia (hereinafter called "The Bank" or ”GTCO). ) of the one part;
and
Wave Transfer Limited, a company incorporated in The Gambia under company number 2018/C6364 and having its registered office at Bertil Harding Highway, Kotu Roundabout, Kanifing Municipality, The Gambia, (hereinafter called "WAVE" or "Wave GAMBIA") of the other part.
WHEREAS;
These Terms and Conditions apply to individuals who hold accounts with both WAVE and GTCO (hereinafter referred to as the "Customer" or "User") and are governed by the Terms and Conditions of Use of the Wave Service, as well as the Terms and Conditions of Use of GTCO Customer Account(s) to which the Customer has previously subscribed.
By subscribing to and using the Service, the User expressly agrees to comply with these Terms and Conditions, including any modifications that may arise in connection with its use.
These Ts &Cs outline the Customer’s rights and obligations concerning the activation, use and termination of the Service. It is the Customer’s responsibility to review them carefully before proceeding.
By accessing and using the Service, the Customer is deemed to have accepted these Terms and Conditions in full.
The Service is made available through the integration of the Customer’s Wave Account with their GTCO Customer Account(s), based on a request initiated by the Customer via the Wave Application and the identification information provided for the GTCO Customer Account(s).
NOW, THEREFORE, the Parties agree as follows:
Definitions
The words "you" and "your" refer to the person who accepts the terms and conditions of this Agreement.
The words "WAVE", "GTCO", "we", "us" and "our" refer to WAVE Transfer Limited and/or Guaranty Bank Gambia Limited.
BANK Application: designates GTCO’s mobile or web application allowing the User to access his/her Customer Account at the BANK using his/her login information and to carry out operations on said account as well as the Transactions defined herein.
Wave Mobile Application: means 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.
"Customer" or "User": refers to any cell phone user who is eligible for the Service, connects to it and chooses to use it.
"PIN Code": refers to the personal and secret four (4)-digit code chosen by the customer when activating his/her Wave account.
“BANK Account": For the BANK customer, the bank account, whether it is a current account or a savings account, which is opened in the Customer's name in the books of GTCO and on which the Customer's funds in GMD Dalasis are recorded and from or to which money transfers (in cash or E-money) will be made within the framework of the use of the Service.
"Wave Account": means the unique E-money account associated with any Wave service Customer, containing information essential to the identification of the Customer and accessible via the USSD or Wave mobile Application on a cell phone, and on which his UV holdings are recorded and from or to which money transfers (in cash or E-money) will be made in connection with the use of the Service.
"Force Majeure": has the meaning defined by common law and consists in particular of any unforeseeable, irresistible event beyond the control of a Party acting in a diligent and professional manner and which significantly affects the performance of its obligations hereunder.
"Electronic Money": means a monetary value representing a claim on the issuing institution which is stored in electronic, including magnetic, form, which is issued without delay against the remittance of funds in an amount not less than the monetary value issued and which is accepted as a means of payment by natural or legal persons other than the issuing institution.
"Fiduciary currency": refers to the currency that is legal tender and obligatory, usable in the form of coins and banknotes, which is the GMD Dalasi in the Gambia;
"Unavailability Period": means the period during which the BANK system or the Wave system is not available to carry out Transactions relating to the Service.
"Service" or "WAVE-GTCO Transfer Service": means, for the purposes hereof, the service enabling the Customer's Wave Account to be connected to his/her GTCO Customer Account(s) in order to enable the Customer to carry out Transactions between his/her two types of account.
"Wave Service": means a service offered to Customers enabling them to carry out transactions on their electronic money accounts, and enabling Customers, WAVE and the Issuing Bank to view and record such transactions.
"SMS": refers to a short message service consisting of a text message.
"Wave System": refers to a subset of WAVE's technology which is the set of computer and technical procedures, and operational schemes enabling the operation of the Wave Service.
"Transaction(s)": refers to transfer operations carried out from the Customer's Wave Account to one or more of the User's GTCO Customer Account(s) (W2B), or transfer operations carried out from the User's GTCO Customer Account to his/her Wave Account (B2W).
“UV": means the electronic unit of value issued as part of the Wave service and circulating by book entry on the customer's Wave account, 1 UV = 1 GMD.
Scope of application
This Contract applies to the Service defined above.
Terms of connection to the Service
Connection to the Service is authorized for an indefinite period subject to the following conditions:
The holding of an active Wave Account eligible for a KYC 2 profile (Wave Account whose holder is sufficiently identified with a transaction limit raised to 200,000 GMD and whose balance is set at a maximum of 1,000,000 GMD over the course of a month) held in WAVE's books;
The holding of one or more GTCO customer accounts on the books of GTCO in accordance with applicable banking regulations;
Completion of the Service subscription form, if applicable;
Acceptance of these Ts&Cs;
Technical validation of the connection in WAVE and GTCO operating systems.
You must enable us to correctly identify your GTCO Customer Account using the information you provide in the Wave Application when you subscribe to the Service. If you do not provide accurate and complete information when logging in, we have the right to refuse to process your request to access the Service.
Terms and conditions of use
You must authorize your Transactions with your secret PIN codes that you use when you log in to your Wave Account or when you log in to your GTCO Customer Account.
You understand and acknowledge that WAVE or GTCO shall have no obligation to process or complete any Transaction requested by you if we are prevented for any reason from obtaining funds from your Wave Account or GTCO Customer Account for the amount of the requested transfer.
You represent and warrant that all information you enter into the Wave Mobile Application regarding the requested Transaction is accurate and complete. When processing the Transaction you initiate, we rely on your registration information and the Transaction amount information you provide.
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 User.
You acknowledge and agree that we have the right to refuse to carry out the Transaction you initiate if we cannot sufficiently verify the validity of your PIN Code.
We have the right to reject your Transaction, or to impose a limitation on the amount of your Transaction, in the cases provided for by the regulations applicable to the electronic money distribution business, namely:
if the value of one or more of your Transaction requests exceeds any transfer limits established for the Wave Service or established for the use of your GTCO Customer Account;
if your Transaction could cause you to exceed the limits allowed for your e-money holdings;
if your Transaction could cause you to exceed the limits authorized for your transactions on your e-money or bank account;
if your request is incomplete or imprecise ;
if we are unable to confirm your identity or verify any of your registration information in our operating systems;
if we have a suspicion of fraud, irregularity or illegality concerning the Transaction requested;
if we are unable to respond to your request during a Service Unavailability Period
if we are unable to respond to your request for any reason;
for any other reason we deem appropriate or necessary, in particular to comply with our legal or regulatory obligations.
You understand and agree that if your Transaction is rejected for any reason, you will be notified of the rejection by SMS, or during your next online session.
Security and unauthorized use of the Service
In order to ensure confidentiality of access to the Service, the identification procedure is based on the composition of a unique and specific four (4) digit personal and secret code ("PIN code") chosen by the Customer. The validation of each Transaction must be confirmed by this PIN code. Confirmation of a Transaction using this code irrevocably and fully releases WAVE and GTCO from all liability.
You are responsible for protecting your PIN code, which must remain secret, and for all Transactions that take place on your Wave Account or GTCO Customer Account. You are requested not to communicate this PIN code to third parties and it must be kept highly confidential and must not be written on any document. The customer must ensure that the PIN code is always entered out of sight. Failure to comply with these instructions irrevocably and fully exonerates WAVE and GTCO in the event of fraudulent use of your PIN code.
If at any time you believe or know that your cellular phone or PIN code has been stolen or compromised, you can reach our customer service centers by the following means:
For Wave: contact@wave.com or call 1222
For GTCO: corpaffgm@gtbank.com or call 7866396
You will be responsible for all Transactions that have occurred in your Wave Account or in your GTCO Customer Account up to the date of blocking of your PIN code following referral to our customer services.
If you dispute that any Transaction was carried out by you, you must prove that it was not authorized by you.
Our records will be considered accurate unless proven otherwise and you acknowledge the validity of WAVE's and GTCO's electronic data.
All Transactions carried out within the framework of the Service shall be evidenced by the electronic data exchanged between WAVE and GTCO. You expressly and irrevocably acknowledge and accept that the recordings of Transactions and their reproduction in the Wave System and in GTCO's operating system constitute sufficient and admissible proof of the completion of each Transaction and justification for charging it to your Wave Account or your GTCO Customer Account.
Repayment conditions
The transfer order you give via your Wave Account or via your GTCO customer account is final and irrevocable. However, if you wish, you may carry out a Transaction in the opposite direction to compensate for the first, subject to payment of the fee defined in article 8 below.
Your Transaction may be refused for various reasons, including :
If the amount of the transfer you wish to make exceeds the authorized limits defined in article 7;
If the amount of the transfer you wish to make exceeds any other limits set for the use of the Service;
If your phone loses its connection to the Internet while the Transaction is in progress ;
If the balance of your Wave Account or GTCO Customer Account is insufficient for the amount of the transfer you wish to make.
Your Transaction may be suspended for a very short time for technical reasons such as maintenance of our servers. The duration and timing of any such brief interruption cannot be determined in advance. In such a case, you will have the possibility to carry out again your Transaction which would not have succeeded following the resumption of operation 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 within D+1.
If the B2W Transaction is not finalized due to a technical problem, GTCO undertakes to return the amount to you within D+1.
Transaction limits to and from your Wave Account
In accordance with current regulations, Transactions from or to your Wave Account will only be possible within the limits applicable to your KYC 2 profile, i.e.:
The total amount of the User's transactions on your Wave Account, including Transactions carried out within the framework of the Service, may not exceed 200,000 GMD:
The total balance of all the User's Transactions on your Wave Account, including Transactions carried out within the framework of the Service, may not exceed 1,000,000 GMD over a period of one (01) month.
The above limits are subject to the law and such other regulatory guidelines as may be in effect from time to time.
Terms and conditions of use
The Service does not give rise to any subscription or management fees on our part.
You will be charged a fee of 1% (incl. VAT) of the amount of the Transaction on your Wave Account or on your GTCO Customer Account for each W2B or B2W Transaction carried out within the framework of the Service.
Service disconnection
Disconnection from the Service is subject to an express request on your part, validated by entering your PIN code on the Wave mobile application.
We may also disconnect you from the Service, if we suspect that your Wave Account or GTCO Customer 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.
Availability of WAVE and GTCO Services and Applications
Except during an Unavailability Period, or in the event of force majeure, the WAVE and GTCO Applications are available 24 hours a day, 7 days a week, 365 days a year. HOWEVER, OUR APPLICATIONS ARE PROVIDED TO YOU "AS IS" AND "AS AVAILABLE".
You agree that we will not be liable for any delay, failure to perform, or error in the performance of your Transaction due to an event of Force Majeure including, but not limited to, insurmountable circumstances beyond our control, whether caused by strikes, power failures, equipment malfunction, acts or omissions of an intermediary bank, war, riots, government or court orders, work stoppages or similar events or circumstances.
You also agree that we may refuse to process or delay the processing of any request under the Service if it is contrary to any guidelines, rules, policies or regulations of regulatory and/or governmental authorities and any money transfer system.
Limitation of liability
We will use commercially reasonable efforts to carry out your Transaction in accordance with your instructions. If the Transaction is delayed or improperly executed as a result of our error or negligence, our only obligation to you is to correct the error or refund the amount of the W2B Transaction requested subject to the conditions set out in clauses 6 and 7 above.
Our liability is limited, and any remedy we are required to provide will never exceed the amount of the Transaction in dispute regardless of the circumstances or reasons for your loss or damage.
IN NO EVENT WILL WE BE LIABLE FOR ANY PUNITIVE, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR EXPENSES ARISING OUT OF OR IN CONNECTION WITH ANY TRANSACTION OR OUR APPLICATIONS.
The foregoing constitutes your exclusive remedy under or in connection with this Agreement and the use of the Service or our Applications. You expressly agree that our limitation of liability above is a reasonable and acceptable response to your remedy under the circumstances of this Agreement and use of the Service.
Compensation
In consideration of our agreeing to provide you with the Service and our Applications, parties agree to indemnify and hold us harmless each other from and against any and all claims, suits, judgments, executions, liabilities, losses, damages, costs and expenses - including reasonable attorneys' fees - in connection with or arising out of (i) any use of the Service and our Applications (ii) any breaches of this Agreement, or (iii) the operations we perform to complete Transactions following your request and pursuant to this Agreement.
In particular, parties agree to indemnify each other for any losses caused by any incomplete or inaccurate information provided by you in connection with the performance hereof, and for any losses caused by your failure to maintain the secrecy and confidentiality of all your IDs, passwords and codes, and by the unauthorized use of your ID and/or password.
Modifications
We reserve the right to modify the terms and conditions contained in this Agreement, by adding or deleting provisions in whole or in part, without prior notice, except as required by law. If we choose to notify you, or are required by law to notify you, of any changes to these Ts&Cs, we will be deemed to have fully complied with this obligation, except where specific terms are provided by applicable law, by mailing or delivering a notice or e-mail message to the last known telephone number or e-mail address we have on file for you.
Some fees are subject to change without notice.
Electronic communications
By using the Service, you agree to receive and accept these Ts&Cs, any amendments thereto, and all notices relating to the Service and our Applications by electronic communication (text message, SMS or e-mail). In the event that any changes to these Ts&Cs require notice, we will notify you by SMS text message or e-mail, at the phone number or e-mail address you provided when registering for the Wave Service and which was identified when you logged in to the Service, or the phone number or e-mail address last provided, or we will provide you with a link in an SMS text message or e-mail where you can view the revised or amended agreement.
An electronic receipt for each Transaction will be made available to you by WAVE via electronic communication. You acknowledge that these receipts are authentic for the purpose of recording the history of your Transactions and charging them to your Wave account or your GTCO Customer Account, unless proven otherwise in the event of errors or omissions.
Use of personal data-Privacy policy
We intend to scrupulously comply with the provisions of the law on the Protection of Personal Data and any other legal provisions attached thereto. Thus, we undertake not to sell or share your personal data, except in compliance with the applicable law on the matter.
We collect "non-personal data" and "personal data" to provide and measure the use of the Service and improve it over time.
In addition to your personal data, we also collect information provided by your browser or our systems when you use the Service, such as the website you came from, the type of browser you use, how you interact with links through our services, the time and date of access, and other information that does not personally identify you. We collect this data to help improve our services, including advertising, and to be able to share aggregate statistics.
By logging in and using the Service, you authorize us to collect, store and use such data in accordance with this Privacy Policy.
We will only disclose your personal data in the circumstances described below.
Your consent: We may share or disclose your information with your consent.
Mandatory retention or disclosure: We may retain or disclose your information if we believe that it is reasonably necessary to do so or on the instructions of judicial or law enforcement authorities, e-money issuing banks and/or the Central Bank of Gambia to comply with any law, regulation or legal request; to protect the safety of any person; to combat fraud, security or technical issues; or to legitimately protect our rights or property.
Non-private or non-personal information: We may share or disclose your non-personal and non-private information, such as the number of Users who clicked on a particular link.
Miscellaneous
Modification of your identification data: We offer you tools to access or modify the personal information that you provide to us and that is associated with your accounts.
Changes to the Service Privacy Policy: We may make changes to the privacy policy set forth herein. We encourage you to check back frequently for any changes to the Service Privacy Policy. If we make a material change to this policy, in our sole discretion, we will notify you in writing.
Applicable law and settlement of disputes.
These Terms and Conditions of Use are governed by the laws of the Gambia. The relationship between us and the customers of the Service is governed by the laws in force in the Gambia in general and in particular the regulations relating to the exercise of the activity of distribution of Electronic Money and by banking regulations. In the event of a dispute, the Parties agree to reach an amicable settlement within a period of one (01) month from the date of notification of the dispute by one party to the other. Failing amicable settlement, any dispute, claim or challenge arising out of or in connection with this Agreement shall be subject to the jurisdiction of the courts of the Gambia.
Agreement - Final clauses
By subscribing to the Service, you acknowledge that you have read, understood and accept the terms of these Terms of Use. You also confirm that you are able to print or download a copy of these Terms of Use.
In the event of the invalidity or nullity of any of the clauses of these Ts&Cs, this shall in no way affect the validity and applicability of the other clauses of this Contract. In such a case, we will seek a lawful and equivalent clause to replace the disputed clause.
The non-application of any clause of these Ts&Cs, whether permanent or temporary, shall in no way be considered as a waiver of the rights of either party arising from the said clause.
By clicking “accept” you acknowledge that you have read, understood and agree to these Terms and Conditions.