Terms and Conditions

1. The Agreement

• 1.1 This Agreement sets out the complete Terms and Conditions (hereinafter called 'these Terms and Conditions') which shall be applicable to the E-Wallet (as hereinafter defined) opened by you (as hereinafter defined) with the Bank (as hereinafter defined).
• 1.2 These Terms and Conditions ("Condition of Use") are applicable and become effective once you opt in to the E-Wallet Service using

2. Definitions and Interpretation

• 2.1. "AML" – means anti-money laundering.
• 2.2. "Bank"- means Diamond Trust Bank Limited incorporated in Kenya as a limited liability company under the Companies Act (Chapter 486 of the Laws of Kenya) and duly licensed as a bank under the Banking Act (Chapter 488 of the Laws of Kenya) and includes subsidiaries of the Bank as may from time to time be specified by the Bank to you;
• 2.3. "Customer" - means the person in whose name the E-Wallet Account with the Bank is existing.
• 2.4. "e-Money" - means the electronic monetary value depicted in your E-Wallet Account representing an equal amount of cash.
• 2.5. "Equipment" – includes your mobile phone handset, website portal and any other Equipment which when used together enables you to access the iFunza Technologies Limited services
• 2.6. "E-Wallet"- Means a store of value that is housed within the Bank to hold the corresponding e-value of the amount a customer has assigned to their wallet.
• 2.7. "IPRS" - means the Integrated Population Registration System.
• 2.8. "KRA" – means the Kenya Revenue Authority.
• 2.9. "Personal Information"- means personal identifiable information as prescribed in the Data Protection Act which includes but is not limited to name, address, phone number, identification number and location data.
• 2.10. "Privacy Policy" – means the Bank's Privacy Policy (available on the DTB website) and iFunza Technologies Limited Privacy Policy that sets out the basis on which any personal data that iFunza Technologies Limited collected from You, or that You provide to iFunza Technologies Limited or the Bank through iFunza Technologies Limited will be stored and processed by iFunza Technologies Limited or the Bank
• 2.11. "Request" - means a request or instruction received by the Bank from you or purportedly from you through the iFunza Technologies Limited System and upon which the Bank is authorized to act;
• 2.12. "Services" - shall include any form of banking services or products that the Bank and iFunza Technologies Limited may offer you pursuant to this Agreement and as you may from time to time subscribe to and "Service" shall be construed accordingly.
• 2.13. "You" "you" or "your" - means the Customer and includes the personal representatives of the Customer.

3. Acceptance Of The Terms And Conditions

4. Account Opening

• 4.1 You may open an E-Wallet Account solely by way of an electronic application provided to you by the iFunza Technologies Limited
• 4.2 The Bank may request iFunza Technologies Limited for your personal information held by iFunza Technologies Limited pursuant to the agreement between you and iFunza Technologies Limited for the provision of the iFunza Technologies Limited products and services. This information will include your phone number, name, date of birth, ID or Passport Number, KRA Pin and such other information that will enable the Bank to identify you and comply with the regulatory "Know Your Customer" requirements.
• 4.3 The Bank may request iFunza Technologies Limited for information relating to your use of iFunza Technologies Limited System as the Bank shall require for purposes of providing you the Services.
• 4.4 The Bank through iFunza Technologies Limited may seek your consent to approve the disclosure of the Personal Information and to the aforesaid use of the Personal Information by the Bank.
• 4.5 The bank will employ a range of technologies and internal policy framework to protect the information and data maintained on our systems from loss, unauthorized access, disclosure, alteration, or destruction and has at all times taken and takes all steps reasonably necessary to ensure the confidentiality and integrity of such Personal Information and information and the way it is processed.
• 4.6 You hereby further acknowledge and authorize the Bank to verify your Personal Information received from iFunza Technologies Limited against the information received from the Government of Kenya repositories (including but not limited to IPRS, KRA) and from other bodies for AML screening.
• 4.7 The Bank reserves the right to request for further information from you either directly or through the iFunza Technologies Limited pertaining to your application for iFunza Technologies Limited services at any time.
• 4.8 The bank Under the provisions of Kenyan laws concerning the participation of financial institutions in combating money-laundering and the financing of terrorist activities, will be required to ascertain from every customer the source, purpose and destination of the transaction or E-Wallet
• 4.9 You hereby expressly consent and authorize the Bank to use your feedback, suggestions, ideas, your Personal Information or information or data relating to your E-Wallet Account in any way, including in future modifications of the Service, other products or services, advertising, or marketing materials.
• 4.10 The Bank reserves the right to decline your application for an E-Wallet Account or to revoke the same at any stage at the Bank's sole discretion and without assigning any reason or giving any notice thereto.
• 4.11 The Bank will adhere to the Privacy Clause herein to undertake its obligations herein.

5. Type of Account - E-Wallet

As a holder of an E-Wallet Account, you will be entitled and subject to these Terms and Conditions.

5.2 Usage of the E-Wallet

6. Irrevocable Authority of the Bank

• 6.1 You hereby irrevocably authorize the Bank to act on all Requests received by the Bank from you (or purportedly from you) through the iFunza Technologies Limited System and to hold you liable in respect thereof.
• 6.2 If you request the Bank to cancel any transaction or instruction after a Request has been received by the Bank from you, the Bank may at its absolute discretion cancel such transaction or instruction but shall have no obligation to do so.
• 6.3 The Bank is authorized to effect such orders in respect of your E-Wallet Account as may be required by any court order or competent authority or agency under the applicable laws.
• 6.4 In the event of any conflict between any terms of any Request received by the Bank from you and these Terms and Conditions, these Terms and Conditions shall prevail.

7. Intellectual Property

You acknowledge that the intellectual property rights in regards to the E-Wallet (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that the Bank provides to you through the E-Wallet or otherwise are vested either in the Bank or in other persons from whom the Bank has a right to use and to sub-license the E-Wallet and/or the said documentation.

8. Liability

• 8.1 In the event that you do not use your E-Wallet in accordance with these conditions of Use, or we find that you are using the E-Wallet fraudulently, we reserve the right to charge you for any reasonable costs or loss we incur.
• 8.2 The Bank shall not be responsible for any loss suffered by the Customer should the Service be interfered with or be unavailable by reason of any industrial action, failure of facilities, or circumstances not reasonably within the Bank's control.
• 8.3 The Bank will not be liable for any losses or damage suffered by you as a result of failure, malfunction, interruption or unavailability of the System, your Equipment, the Network, and the iFunza Technologies Limited system.