Who these cover
These terms are between you and Fiinwage Ltd, which operates Wagezapp. They apply from the moment you create an account.
If your employer put Wagezapp in place for their staff, your employer has its own agreement with Fiinwage. That agreement does not change anything here, and your employer cannot vary these terms for you.
Who can use it
To open an account you must:
- be at least 18 years old;
- be employed, and be paid on a regular cycle;
- hold a Nigerian bank account in your own name;
- pass identity verification, which needs your BVN, your NIN and a document check.
If verification does not pass, the account cannot be opened. That is a legal requirement on us, not a judgement about you.
What you can draw
You can draw against pay you have already earned in the current cycle. You cannot draw against pay you have not worked for yet.
The ceiling is a third of your monthly salary, applied across the whole cycle rather than to each request. If you have already drawn once, the next request is measured against what is left of that third.
Wagezapp may offer you less than the ceiling, or nothing at all, based on your WageScore and how your account has run. An advance is never guaranteed.
What it costs you
When your employer is on Wagezapp
You pay no interest. Your employer subscribes to the service and the cost sits with them. You repay exactly the amount you drew, and nothing is added to it.
When your employer is not on Wagezapp
The advance is funded by a licensed third party lender, not by Fiinwage. You see every charge, in full, before you confirm anything. Nothing is ever deducted that you were not shown first.
There is one charge on the advance. It is worked out when you ask for it, shown to you in naira before you confirm, and it does not change after that.
A ₦50 stamp duty applies separately to money arriving in a Nigerian account above ₦10,000. That is a statutory charge and it is not ours.
If your employer later comes on to Wagezapp, an advance already running keeps the terms it started on. Your next advance after they become active is the free one.
The charge on this route is being reworked by Fiinwage and no figure is published here until it is settled. The example on the home page is labelled an illustration for the same reason.
The structure of the late charge is settled: a failed direct debit gets seven days with nothing added and a daily reminder, and a charge applies after that. The rate itself is still with Fiinwage's counsel, who have to confirm both the figure and the annual equivalent that has to be shown beside it. It is deliberately not stated here, because publishing a figure that then changes is worse than leaving it out.
How it comes back
Where your employer is on Wagezapp, the advance is recovered through the payroll deduction your employer already makes. You do not have to transfer anything, and there is no card to charge.
An advance is recovered in one payday deduction. If you hold a trust badge and have been allowed to draw above the usual ceiling, only a third of your salary is taken on any one payday and the rest carries into the next cycle, where it uses up that cycle's allowance.
If you leave your job, the outstanding amount becomes due. We will contact you to agree how it is settled rather than taking it without telling you.
Your savings
Money you put into Wagezapp savings stays yours. It is not held as security against an advance and it is not taken to cover one.
Where you have an advance outstanding, a withdrawal may be held until that advance is settled. Your balance is not reduced, and the money is not used for anything else in the meantime.
Your WageScore
Your WageScore reflects how your account has run: whether advances came back as expected, how steady your earnings are, and how long you have been using Wagezapp. It affects how much you are offered.
It is ours, not a credit bureau score, and it does not follow you off the platform. You can see it in the app and you can ask how it was arrived at.
Looking after your account
- Keep your PIN to yourself. Anyone who has it can move your money.
- Your transaction PIN is separate from your sign in PIN, and should not be the same.
- Tell us straight away if you think someone else has got into your account.
- Keep your employment and bank details current. An advance sent to a closed account is slow to recover.
What you may not do
- Give false information, or use someone else's identity or bank account.
- Use Wagezapp for anything unlawful, including moving the proceeds of crime.
- Hold more than one account, or let somebody else use yours.
- Attack, probe or attempt to interfere with the service or its security.
When we can suspend an account
We can suspend or close an account where we reasonably believe it is being used fraudulently, where we are required to by a regulator or a court, or where these terms have been broken.
Suspension does not cancel what you owe, and it does not take your savings. Where the law allows us to tell you why, we will.
Liability, disputes and governing law
Wagezapp depends on banks, identity providers and payment infrastructure that we do not control. We are responsible for our own service and for getting your money where it is meant to go; we are not responsible for an outage somewhere else in that chain, beyond putting it right once it is back.
The limitation of liability, the complaints procedure and the escalation route, the governing law and the dispute resolution clause all have to be drafted by Fiinwage's counsel. They are the parts of a terms page that cannot responsibly be drafted by anyone else.