Legal
Terms of service
The agreement between SyntraPayment and the businesses that use our accounts and payout services. Written to be read, not to be skipped.
01Who these terms are between
These terms form the agreement between SyntraPayment and the business that opened the account. Where an individual accepts these terms, they confirm they are authorised to bind that business.
Services are offered to registered businesses only. We do not open accounts for personal use, and an account found to be used personally may be suspended.
02Opening and keeping an account
You must give us accurate information about your business, its directors and its beneficial owners, and tell us within 30 days if any of it changes.
We may ask for further documents at any time to meet our regulatory obligations. If we cannot verify your business, we may decline to open the account or close an existing one, returning any balance to a verified account in your name.
03How balances are held
Customer funds are held in segregated accounts with regulated partner banks, separately from our own operating funds, and are held one for one against your balance.
We do not lend customer funds, invest them, or use them in our own operations. Balances do not earn interest and are not deposits, so they are not covered by deposit protection schemes.
04Quotes, rates and fees
A quote states the exchange rate, our margin and the payout fee, and is held for 30 seconds. If you approve within that window, those figures are the figures that settle.
If a quote expires you may request a new one at the rate available at that time. Fees are listed on our pricing page and any change is notified at least 30 days in advance.
05Sending payouts
You are responsible for the accuracy of beneficiary details. A payout sent to details you supplied cannot always be recovered, though we will use reasonable efforts to assist.
We may delay, decline or reverse a payout where we are required to do so by law, where screening raises a concern, or where we reasonably suspect fraud. Where we are permitted to tell you, we will.
06Your obligations
You agree not to use the service for any unlawful purpose, to evade sanctions, or on behalf of an undisclosed third party.
You must keep your credentials and API keys secure, and tell us immediately if you believe they have been compromised. You are responsible for activity carried out using your credentials.
07Availability and liability
We aim for continuous availability and publish our uptime, but we do not guarantee the service will be uninterrupted. Planned maintenance is announced in advance where possible.
Our liability to you is limited to the fees you paid us in the twelve months before the event giving rise to the claim. Nothing in these terms limits liability for fraud or anything that cannot be limited by law.
08Closing an account
You may close your account at any time once all payouts have reached a final state. We will return any remaining balance to a verified account in your name.
We may close an account with 60 days' notice, or immediately where we are required to by law or where the account has been used in breach of these terms.
09Changes and governing law
We will give at least 30 days' notice of any material change to these terms. Continuing to use the service after that notice period means you accept the change.
These terms are governed by the laws of the Federal Republic of Nigeria, and the courts of Lagos State have exclusive jurisdiction over any dispute.