Terms of Service

Acceptance of these terms

By creating an account or using Tranxact, you agree to these terms. If you don't agree, please don't use the service.

What Tranxact does

Tranxact lets you send and receive money, receive supported cryptocurrencies (converted automatically to naira), create payment links, and pay everyday bills.

Eligibility

You must be at least 18 years old and able to enter into a binding agreement under Nigerian law to use Tranxact.

Your account

• You're responsible for keeping your login details and transaction PIN secure.
• You're responsible for activity that happens through your account.
• Tell us right away if you believe your account has been compromised.

Fees

Sending money to other Tranxact users is free. Fees may apply to crypto conversion, TranxactPay transactions, and bank withdrawals — current rates are shown in the app before you confirm a transaction.

Payment links without an account

You can create a payment link with just your email address and a Nigerian bank account, without signing in to Tranxact. If you do, this section applies to you.

• We confirm your email with a code, and the name on your bank account must match the name you give us. We check it with your bank.
• Until you sign in to Tranxact, you can receive up to ₦200,000 in total. When you reach that amount your links are paused, and anything already received is still paid out.
• When someone pays your link, we send the money to your bank account, less our per-payment fee and the payout fee. Payouts can take time to arrive, and we may hold or review a payout where we need to check it.
• You are responsible for the bank details you give us. If they are wrong, a payout may fail or go to the wrong account, so please check them carefully.
• If you later sign in to Tranxact with the same email, your links and payment history become part of your Tranxact account, and new payments are credited to your Tranxact balance instead of being paid out to your bank.

Limits and verification

Until you verify your identity, you can receive up to ₦1,000,000 in total into your Tranxact account. When you reach it, your payment links pause until you verify your ID. You can always spend or send the money already in your balance. We may ask for identity details such as your NIN, and we may restrict or suspend an account while we review them.

Crypto-specific risks — please read this section carefully

• Cryptocurrency transactions on the blockchain cannot be reversed once sent. If you send crypto to the wrong address or on the wrong network, those funds may be permanently unrecoverable — Tranxact cannot retrieve them for you.
• Always double-check the coin and network shown before sending.
• Cryptocurrency values fluctuate. The naira amount you receive reflects the market rate at the time your deposit is processed.

Prohibited use

You agree not to use Tranxact for money laundering, fraud, or any illegal purpose, and not to attempt to circumvent our security measures.

Limitation of liability

Tranxact provides the service on an "as is" basis. To the fullest extent permitted by law, we're not liable for losses arising from user error (such as sending crypto on the wrong network), unauthorized access resulting from you not securing your account, or circumstances outside our reasonable control.

Suspension and termination

We may suspend or close an account that we reasonably believe is being used fraudulently, for illegal activity, or in violation of these terms.

You can close your account at any time by deleting it in the app (Profile, then My profile, then Delete account). Deletion takes effect after a 14-day waiting period, and is not possible while you have a wallet balance or a withdrawal, transfer or payment in progress. Our Privacy Policy explains what we erase and what we are required to keep.

Changes to these terms

We may update these terms from time to time. Continued use of Tranxact after a change means you accept the updated terms.

Governing law

These terms are governed by the laws of the Federal Republic of Nigeria.

Contact us

Questions about these terms? Reach us at hello@tranxact.co, on WhatsApp, or on X @tranxactng.