These Terms and Conditions govern access to and use of Finex Money services provided through:
• the Finex Money mobile application
• the Finex Money website
• Finex Money wallet accounts
• Finex Money debit card programmes
• payment distribution platforms
• partner and white-label implementations
By registering for or using Finex Money services, you agree to be bound by these Terms.
Finex Money provides digital wallet, card programme and payment execution services through regulated financial partners.
Finex Money:
• is not a deposit-taking bank
• does not provide credit facilities
• does not pay interest on balances
• operates within partner banking infrastructure
• enables transaction execution and payment distribution services
Customer funds are held within safeguarded partner banking environments.
To use Finex Money services you must:
• be at least 18 years old (or authorised guardian for minor accounts)
• provide accurate identification information
• comply with applicable regulatory requirements
• not be subject to financial sanctions restrictions
Finex Money may refuse or suspend access where regulatory requirements are not met.
Finex Money services may include:
Digital Wallet Services
Account storage and transfer of electronic value
Debit Card Services
Prepaid Mastercard debit cards linked to customer wallet balances
Payment Distribution
Employer or programme-based disbursement services
Value-Added Services
Airtime, utilities, vouchers and digital payments
Transfers
Wallet-to-wallet and wallet-to-bank transfers (where enabled)
Service availability may vary by programme, jurisdiction, or compliance status.
To open an account you must provide:
• full name and surname
• identity or passport number
• mobile number
• email address
• supporting KYC documentation
Finex Money may request additional documentation at any time to comply with regulatory
requirements.
Accounts may be restricted until verification is completed.
Finex Money is required by law to verify customer identity.
You agree to:
• submit requested documentation
• provide accurate information
• update expired documentation when requested
Failure to comply may result in:
• account restrictions
• transaction limits
• suspension or closure
Wallet balances may be funded through:
• EFT transfers
• retail deposit partners
• programme disbursements
• approved payment channels
Funds received are processed through regulated banking partners.
Wallet balances do not earn interest.
Wallet balances may be used to:
• make payments
• transfer funds
• load debit cards
• purchase value-added services
• withdraw cash (where enabled)
Transaction limits depend on verification level and regulatory requirements.
Where issued, Finex Money debit cards:
• operate on prepaid balances
• are issued through regulated partners
• may be subject to scheme rules
• may include usage limits
Separate card-scheme terms may apply and take precedence where required.
Fees and Charges
Finex Money applies service fees, transaction charges, and partner-related costs in connection with the use of its products and services.
These fees may include, but are not limited to:
• card issuance and replacement fees
• transaction processing fees
• withdrawal fees
• funding and settlement fees
• third-party service charges
• regulatory or compliance-related costs
A current schedule of applicable fees is made available through the Finex Money application, website, or associated product documentation.
Changes to Fees
Finex Money reserves the right to amend its fees at any time where reasonably required due to:
• regulatory changes
• scheme rule amendments
• banking partner pricing adjustments
• third-party processing cost changes
• operational cost variations
• fraud mitigation requirements
• market or infrastructure conditions
Finex Money will endeavour to provide advance notice of fee changes where reasonably possible. However, in certain circumstances, including where changes are imposed by partners, regulators, payment schemes, or infrastructure providers, prior notice may not be possible.
Where immediate implementation is required, revised fees may take effect before notice is issued.
Limitation of Liability Relating to Fee Updates
Finex Money shall not be liable for any loss, claim, cost, or damage arising from:
• delayed publication of updated fees
• partner-driven pricing adjustments
• scheme-mandated changes
• regulatory cost changes
• infrastructure pricing amendments beyond Finex Money’s control
Continued use of Finex Money services after any fee adjustment constitutes acceptance of the
revised fees.
Consent to Location Verification
By accepting these Terms and Conditions, you expressly consent to Finex Money verifying your geographic location for regulatory, compliance, fraud prevention, and transaction security purposes.
Location verification may occur:
• during onboarding
• during authentication events
• prior to transaction approval
• during transaction execution
• during account monitoring activities
• during periodic compliance reviews
Location verification may take place without additional notice where required by law, regulatory obligation, banking partner requirements, or payment scheme rules.
Device Integrity Monitoring
To maintain platform security and regulatory compliance, Finex Money may monitor device health indicators associated with your access to Finex Money services.
This may include:
• device configuration status
• operating system integrity indicators
• emulator detection
• rooted or jailbroken device detection
• application tampering indicators
• abnormal session behaviour
• suspicious authentication attempts
Such monitoring supports fraud prevention, AML compliance, transaction authentication integrity, and protection of customer accounts.
Monitoring may occur automatically and without prior notification.
Transaction Location Controls
Finex Money may perform geo-location analysis of transactions to:
• detect suspicious activity
• prevent fraud
• enforce jurisdictional restrictions
• comply with anti-money laundering obligations
• meet payment scheme requirements
• comply with banking partner mandates
• support sanctions compliance
This monitoring may occur continuously and without prior notice.
Finex Money may suspend, decline, delay, or investigate transactions where location-based risk indicators are identified.
Compliance Monitoring
You acknowledge and agree that Finex Money may conduct compliance monitoring activities
without prior notification where required for:
• FICA compliance
• AML/CFT obligations
• sanctions screening enforcement
• fraud detection
• payment scheme compliance
• issuer requirements
• regulatory reporting obligations
• transaction risk scoring
These activities are necessary for lawful operation of Finex Money services.
Monitoring Disclaimer
By accepting these Terms and Conditions, you acknowledge and agree that:
Finex Money may verify your identity, device integrity, behaviour patterns, transaction activity, and geographic location at any time as required for regulatory compliance and fraud prevention.
Finex Money shall not be liable for any loss, inconvenience, delay, restriction, suspension, or transaction interruption arising from:
• location verification processes
• device integrity monitoring
• automated fraud detection controls
• compliance screening
• sanctions screening
• risk scoring outcomes
• jurisdictional enforcement requirements
• partner-imposed monitoring controls
Such monitoring forms part of Finex Money’s regulated operating environment and is necessary for the protection of customers and the financial system.
Applicable service fees may include:
• monthly account fees
• transaction fees
• withdrawal fees
• replacement card fees
• refund processing fees
Fees are published within the application or on the Finex Money website.
Customer funds are:
• held with regulated partner banks
• segregated where required
• protected in accordance with programme structures
Finex Money does not hold customer deposits as a bank.
Finex Money may:
• monitor transactions
• investigate suspicious activity
• delay transactions for compliance review
• report transactions to regulators where required
These controls support anti-fraud and anti-money-laundering obligations.
You may not use Finex Money services for:
• unlawful transactions
• fraud or impersonation
• money laundering
• terrorist financing
• pyramid schemes
• unauthorised gambling services
• prohibited goods or services
Accounts may be restricted immediately if suspicious activity is detected.
You are responsible for:
• protecting login credentials
• safeguarding your device
• reporting unauthorised activity immediately
• maintaining accurate contact details
Finex Money is not responsible for losses caused by credential compromise where user negligence is involved.
Finex Money does not guarantee uninterrupted service availability.
Service interruptions may occur due to:
• maintenance
• partner-network outages
• regulatory controls
• system upgrades
Reasonable efforts are made to maintain platform availability.
Finex Money may suspend or close accounts where:
• regulatory requirements apply
• suspicious activity is detected
• incorrect information is provided
• misuse of services occurs
• security risks arise
Customers may request account closure at any time.
Remaining balances must be withdrawn before closure.
Incorrect transactions must be reported promptly.
Finex Money will make reasonable efforts to assist with recovery where possible, but cannot guarantee reversal of completed transactions.
Refund administration fees may apply.
To the extent permitted by law, Finex Money is not liable for losses arising from:
• incorrect beneficiary details provided by users
• third-party system failures
• network interruptions
• regulatory restrictions
• external service provider delays
Nothing in these Terms limits liability where prohibited by law. Maximum Liability Cap
To the extent permitted by law, Finex Money’s total liability arising from any claim relating to its services shall not exceed: the total amount of fees paid by the customer to Finex Money in the three (3) months preceding the event giving rise to the claim.
Finex Money shall not be liable for any indirect or consequential loss, including:
• loss of profits
• loss of expected savings
• business interruption
• reputational damage
• loss of opportunity
even where Finex Money has been advised that such loss may occur.
All platform content, systems and materials remain the property of Finex Money.
Unauthorised copying or redistribution is prohibited.
Personal information is processed in accordance with the Finex Money Privacy Policy available on the website.
Finex Money may update these Terms periodically.
Continued use of services constitutes acceptance of updated Terms.
These Terms are governed by the laws of the Republic of South Africa.
Finex Money (Pty) Ltd
Registration number: 2019/332893/07
31 Patriot Street
Hoog en Droog
Paarl
Western Cape
South Africa
Telephone: 0861 222 760
Email: info@finexmoney.com
Website: www.finexmoney.com