1. Acceptance
By creating a JasonPay account or using any JasonPay service, you agree to these Terms of Use in full. If you do not agree, do not use our services.
Important: JasonPay does not offer loans, credit, or any form of lending. We are a digital banking service platform operating under CBN licensing.
2. Eligibility
- You must be at least 18 years old to open an account
- You must be a Nigerian resident or Nigerian citizen abroad
- You must provide accurate identity information for KYC verification
- You must not be under any CBN sanction or financial regulatory ban
3. Account Responsibilities
- You are responsible for maintaining the confidentiality of your PIN and biometric credentials
- Never share your OTP, PIN, or password with anyone — including JasonPay staff
- Report unauthorised account access immediately via our complaints process
- One account per person — multiple accounts for the same individual are prohibited
4. Permitted Use
JasonPay services may only be used for lawful purposes including:
- Personal and business payments within Nigeria
- International remittance through licensed corridors
- Bill payments, airtime and data purchases
- Reserve and Esusu savings group products
- Foreign exchange (USD, CNY) within permitted CBN limits
5. Prohibited Activities
- Money laundering, terrorist financing, or sanctions evasion
- Fraudulent transfers or identity misrepresentation
- Using JasonPay for gambling, Ponzi schemes, or unlicensed investment products
- Attempts to reverse-engineer or manipulate the JAY AI system
- Automated access without written permission
6. Transaction Limits
- CBN Tier 1 — ₦50,000 per transaction · ₦300,000 daily
- CBN Tier 2 — ₦200,000 per transaction · ₦1,000,000 daily
- CBN Tier 3 — ₦5,000,000 per transaction · Subject to enhanced KYC
- FX limits governed by current CBN BDC regulations
7. JAY AI Banking Officer
JAY is JasonPay's AI system. While JAY is designed to be accurate and helpful:
- JAY does not provide licensed financial advice
- JAY's tax-related information is educational only — not professional tax advice
- Always verify large transactions before confirming
- JasonPay is not liable for losses arising from reliance on JAY's guidance outside of executed transactions
8. Fees & Charges
JasonPay's current fee schedule:
- Intra-bank transfers (JasonPay to JasonPay) — Free
- Interbank transfers — Standard NIP fee (₦10–₦50 per transaction)
- Airtime/Data purchases — No additional fee
- FX conversion — Spread included in displayed rate
- Reserve — No management fee; rate displayed before locking
9. Governing Law
These Terms are governed by Nigerian law. Any disputes shall be resolved in Lagos State courts, subject to CBN dispute resolution procedures where applicable.
10. Changes to These Terms
We may update these Terms. We will notify you via the app and email before changes take effect. Continued use after notification constitutes acceptance.
Questions: legal@jasonpaybank.com