KanaCash Wallet Service

These Terms and Conditions ("Terms") govern the use of the KanaCash Wallet Service ("Service") offered through Liberia Bank for Development and Investment ("LBDI" or "the Bank"). By enrolling in or using the Service, the Customer agrees to be bound by these Terms.

The Service enables LBDI account holders to link a KanaCash mobile wallet to their LBDI bank account(s) and to perform fund transfers between the wallet and the account.

1.1 Definitions

2.1 Eligibility. To enrol in the Service the Customer must:

1. Hold a valid, active, and fully KYC-verified LBDI bank account in good standing.
2. Hold an active KanaCash mobile wallet registered to the same mobile number provided to LBDI.
3. Not be subject to any account restriction, court order, or regulatory sanction that would prohibit the operation of the Service.

2.2 Enrolment. Enrolment is initiated through the KanaCash application. LBDI will verify the Customer's identity and account status against its records. Successful verification constitutes enrolment and activates the Service for the Customer.

2.3 Accuracy of Information. The Customer is responsible for ensuring that all personal and account information provided during enrolment is accurate and up to date. LBDI bears no liability for failures arising from incorrect information provided by the Customer.

2.4 Single Wallet per Account. Only one KanaCash wallet may be linked to a single LBDI account at any time, unless otherwise permitted by LBDI in writing.

3.1 Wallet Linking. A Customer may link their KanaCash Wallet to an eligible LBDI account by following the process in the KanaCash application. Linking requires OTP verification sent to the Customer's registered mobile number.

3.2 Wallet Delinking. A Customer may delink their Wallet from a Linked Account at any time through the KanaCash application, subject to Section 9. Upon delinking, the Service for that account is immediately deactivated. Any transaction initiated before delinking will be completed or reversed according to its status at the time of the delink request.

3.3 LBDI-Initiated Delink. LBDI reserves the right to delink a Wallet without prior notice where: (a) the Linked Account is closed, dormant, or frozen; (b) LBDI reasonably suspects fraud or misuse; (c) required by a regulatory authority or court order.

3.4 Re-linking. A Customer whose Wallet has been delinked may re-link subject to the eligibility conditions in Section 2, unless LBDI has blocked the account from the Service.

4.1 Initiation. All W2B and B2W transactions are initiated by the Customer through the KanaCash application. The Customer authorises each transaction by entry of a valid OTP.

4.2 Irrevocability and Fraud Warning. Once an OTP is successfully validated and a transaction is submitted to LBDI's CBS, the instruction is irrevocable unless LBDI exercises its reversal rights under Section 4.5.

4.3 Transaction Confirmation. LBDI will return a CBS Reference to KanaCash upon successful processing. The Customer should retain the CBS Reference as proof of the transaction. LBDI's records of processed transactions are conclusive unless the Customer raises a dispute within the time limit set out in Section 10.

4.4 Failed Transactions. Where a transaction fails, no funds will be debited or credited. LBDI will return a failure response code to KanaCash. The Customer may re-initiate the transaction after confirming their account balance and details.

4.5 Reversals. LBDI may initiate a reversal of a completed transaction where: (a) the transaction was processed in error; (b) funds were credited to the wrong account due to a system fault; or (c) required by a regulatory authority. LBDI will notify the Customer via SMS or through KanaCash within 24 hours of any reversal.

4.6 Currency. Transactions may be denominated in Liberian Dollars (LRD) or United States Dollars (USD). Cross-currency transactions are not permitted under this Service.

5.1 Transaction Limits. LBDI may set minimum and maximum transaction amounts per single transaction and per day. Current limits are published in the KanaCash application and on LBDI's website and may be amended from time to time with 14 days' notice to the Customer.

5.2 Account Balance. The Customer is responsible for ensuring sufficient available balance in the debited account or Wallet before initiating a transaction. LBDI will decline a transaction where the available balance is insufficient.

5.3 Fees. Applicable service fees, if any, will be disclosed to the Customer before the transaction is authorised and will be deducted at the time of the transaction. LBDI reserves the right to introduce, amend, or waive fees upon 30 days' prior notice to the Customer.

5.4 Third-Party Charges. The Customer may be subject to separate charges levied by KanaCash under the terms of their KanaCash wallet agreement. LBDI has no responsibility for such charges.

6.1 OTP Security. Each transaction requires a valid OTP delivered by SMS to the Customer's registered mobile number. The OTP is valid for a single use only and expires within a limited time window. The Customer must not share the OTP with any person, including LBDI staff or KanaCash agents.

6.2 OTP Lockout. After three consecutive incorrect OTP attempts, the Customer's OTP will be locked. The Customer must contact LBDI or re-initiate the OTP request to unlock access.

6.3 Customer Obligations. The Customer agrees to:

1. Keep their mobile device, SIM card, and KanaCash application credentials secure.
2. Notify LBDI and KanaCash immediately if the registered mobile number is lost, stolen, or ported without authorisation.
3. Not permit any other person to use their enrolled account or Wallet for Service transactions.
4. Comply with all applicable laws of the Republic of Liberia in connection with the use of the Service.
5. Ensure their LBDI account details remain current and accurate at all times.

6.4 Suspicious Activity. The Customer must report any transaction they did not authorise to LBDI within 24 hours of the time the transaction was posted to their account. Failure to report within this period may limit LBDI's ability to investigate or reverse the transaction.

6.5 LBDI Security Measures. LBDI employs industry-standard encryption and authentication controls for the Service. LBDI will never contact the Customer by phone, email, or SMS to request an OTP, PIN, password, or account number.

7.1 LBDI Liability. LBDI is liable only for direct losses caused directly by its own gross negligence or wilful misconduct in processing a transaction. LBDI's maximum liability for any single transaction is limited to the transaction amount.

7.2 Exclusions. LBDI is not liable for:

1. Losses arising from the Customer's failure to comply with these Terms.
2. Losses caused by network failures, telecommunications outages, or mobile device failures outside LBDI's control.
3. Losses arising from delays or failures caused by KanaCash's systems or processes.
4. Indirect, consequential, or special losses of any kind.
5. Losses arising from fraudulent or unauthorised use of the Service where the Customer has failed to comply with Section 6.
6. Service unavailability during scheduled or emergency maintenance.

7.3 Force Majeure. LBDI shall not be liable for any failure or delay in performing its obligations under these Terms to the extent caused by events beyond its reasonable control, including acts of God, civil unrest, government action, or infrastructure outages.

7.4 Customer Indemnity. The Customer indemnifies and holds LBDI harmless from any claim, loss, cost, or liability arising from: (a) the Customer's breach of these Terms; (b) the Customer's fraudulent or negligent use of the Service; or (c) incorrect account or payment information provided by the Customer.

7.5 KanaCash Responsibility. The Customer acknowledges that KanaCash operates independently of LBDI. LBDI makes no representations or warranties regarding KanaCash's services, and any dispute with KanaCash must be resolved directly with KanaCash.

7.6 KanaCash Master Service Agreement. The Service is underpinned by a Master Service Agreement between LBDI and KanaCash that includes corresponding indemnities, service level commitments, and liability provisions in favour of LBDI. The disclaimers in this Section 7 do not affect LBDI's contractual rights against KanaCash under that agreement.

8.1 Data Collection. LBDI collects and processes personal data (name, mobile number, account number, transaction data) for the purpose of operating the Service. All data processing is conducted in accordance with LBDI's Privacy Policy and applicable Liberian law.

8.2 Data Sharing with KanaCash. By enrolling in the Service, the Customer expressly consents to LBDI sharing the following data with KanaCash solely for the purpose of providing the Service:

• Full name
• Registered mobile number (MSISDN)
• Account number(s) and currency
• Account status (active, dormant, frozen)
• Transaction status and CBS Reference for each processed transaction

8.3 Restrictions on Use. KanaCash is prohibited from using LBDI customer data for any purpose other than providing the Service. The Customer's data will not be sold, rented, or disclosed to any other third party without the Customer's consent, except where required by law or a competent authority.

8.4 Data Retention. Transaction records will be retained by LBDI for a minimum of seven (7) years in accordance with banking regulations. The Customer may request a transaction history statement at any LBDI branch or through LBDI's authorised channels.

8.5 Withdrawal of Consent. The Customer may withdraw consent to data sharing by delinking their Wallet (Section 3.2). Withdrawal of consent will terminate the Service for that Customer.

8.6 Data Processing Agreement. LBDI and KanaCash are bound by a Data Processing Agreement that mirrors the restrictions in Section 8.3 and grants LBDI audit rights over KanaCash's data processing activities. The restrictions in Section 8.3 are contractually enforceable against KanaCash under that agreement.

9.1 Customer-Initiated Termination. The Customer may terminate the Service at any time by delinking their Wallet through the KanaCash application or by submitting a written request to LBDI. Termination takes effect immediately upon successful delinking.

9.2 LBDI-Initiated Suspension. LBDI may suspend the Service immediately and without prior notice where it:

1. Suspects fraudulent, unauthorised, or illegal use of the Service.
2. Is required to do so by a regulatory authority, court order, or applicable law.
3. Detects a security breach or vulnerability that may affect the Customer's account.
4. Receives notification that the Customer's registered mobile number has been reported stolen or compromised.

9.3 LBDI-Initiated Termination. LBDI may terminate the Service with 14 days' written notice to the Customer where: (a) the Linked Account is permanently closed; (b) the Customer materially breaches these Terms and fails to remedy the breach within 7 days of notice; or (c) LBDI discontinues the Service.

9.4 Effect of Termination. Upon termination: (a) all Wallet links to LBDI accounts are permanently delinked; (b) pending transactions already submitted to the CBS will be completed or reversed in the normal course; (c) transaction history remains accessible to LBDI for the retention period in Section 8.4.

9.5 Reinstatement. Following suspension, LBDI will notify the Customer of the reason and the steps required to reinstate the Service, where reinstatement is possible.

10.1 Raising a Dispute. The Customer must report any disputed transaction to LBDI within 60 calendar days of the transaction date by:

• Visiting any LBDI branch and completing a dispute form, or
• Calling LBDI's Customer Service on +231 88-815-0010, or
• Emailing customers.inquiries@lbdi.net

The Customer must provide the CBS Reference, transaction date, amount, and a description of the dispute.

10.2 Investigation. LBDI will acknowledge the dispute within 2 business days and complete its investigation within 15 business days. Where the investigation requires information from KanaCash, LBDI will coordinate accordingly.

10.3 Resolution. LBDI will notify the Customer of the outcome of the investigation in writing. Where a transaction is found to have been processed in error, LBDI will reverse or credit the affected amount within 5 business days of the resolution notice.

10.4 Escalation. If the Customer is dissatisfied with LBDI's resolution, the dispute may be escalated to the Central Bank of Liberia or such other competent regulatory body as may have jurisdiction.

10.5 Records. LBDI's transaction records, including CBS References, timestamps, and response codes, shall be the primary evidence in any dispute investigation, subject to any contrary evidence provided by the Customer.

11.1 Amendments. LBDI may amend these Terms at any time. Material amendments will be communicated to the Customer at least 14 days in advance through all of the following channels: (i) SMS to the Customer's registered mobile number; (ii) in-app notification via the KanaCash application; and (iii) publication on LBDI's website. LBDI will maintain records of all amendment notices issued. Continued use of the Service after the effective date of an amendment constitutes acceptance of the revised Terms.

11.2 Severability. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

11.3 Entire Agreement. These Terms, together with LBDI's standard account terms and conditions, constitute the entire agreement between LBDI and the Customer in respect of the Service.

11.4 Governing Law. These Terms are governed by and construed in accordance with the laws of the Republic of Liberia. Any legal proceedings arising from or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of the Republic of Liberia.

11.5 Language. These Terms are issued in English. In the event of any inconsistency between the English version and any translation, the English version prevails.

12.1 LBDI Contact Details.

12.2 Regulatory Oversight. LBDI is a licensed commercial bank regulated by the Central Bank of Liberia.