By accessing, viewing the Platform or using the Services through any means, you accept our terms and conditions and agree to be bound.
Cowrywise Financial Technology Limited (“Cowrywise”) is registered with the Securities and Exchange Commission in Nigeria as a fund/portfolio manager. Cowrywise provides an automated savings and investment platform available on its website at cowrywise.com and/or through its mobile applications.
This agreement will be effective on your acceptance of its terms electronically or otherwise through the platform.
1.1.2 “APIs" means programmatic web application programming interfaces and associated tools and documentation that provide access to certain data displayed on the Platform.
1.1.3 “Applicable Law” means, any constitution, statute, law, rule, regulation, ordinance, judgement, order, decree of the Federal Republic of Nigeria, or any published directive, guideline, requirement or other governmental restriction that has the force of law, whether in effect as of the date hereof or as of any date thereafter in the Federal Republic of Nigeria.
1.1.4 “Client” means a party using and utilising our Services through our Platform.
1.1.5 “Cowrywise” means Cowrywise Financial Technology Limited.
1.1.6 “Partner Program” refers to contractual relationships entered into between Cowrywise and third-party service providers to enhance or build on Cowrywise’s product offerings.
1.1.6 “Platform” means collectively, Cowrywise’s website, mobile applications, and blog and includes any updates or replacements as may be applicable.
1.1.7 “Services” means the management of a Client’s savings and investments made through the Platform and/or other services as may be agreed between the parties but subject always to the terms of our licence.
1.1.9 “Users” means persons other than Clients who access the Platform through any means.
We offer an automated savings and investment service as a licensed fund/portfolio manager. As a Client, we will use best efforts and reasonable care to manage your savings and investments made through our Platform on your behalf to maximize your returns.
References to "you" or "your" are references to any person accessing or using the Platform, and/or Services by any means.
The Platform and Services are intended solely for individuals who are:
In order to access certain features of the Platform, you must register to create an account ("User Account"). When you register, you will be asked to choose a password which you will be required to provide in order to access your User Account.
As a User, you agree that you shall be solely responsible for any activities or actions under your User Account and that Cowrywise is irrevocably authorised to comply with any instructions received on the Services on your behalf for your use of the Services. Such instructions shall be irrevocably deemed to have been authorised by you.
You agree that the information you provide to us on account registration through our Platform will be true, accurate, current, and complete.
If you wish to develop enhancements to the Services, then you must do so via the API linked to the Partner Program. Access to the API for the Partner Program requires you meet our Partner Program eligibility criteria and enter into a signed partnership agreement with Cowrywise. You may not scrape or copy information through any means (including crawlers, browser plugins and add-ons, and any other technology or manual work) as explained in clause 8 (Cowrywise "Dos" and "Don'ts"). If you wish to learn more about becoming a Partner, please contact email@example.com
If you do not use the Services/Platform for a certain period of time, Applicable Law may require us to report the funds in your User Account as unclaimed property. If this occurs, we may try to locate you or your next of kin at the address shown in our records. If we are unable to locate you, we may be required to deliver any funds in your User Account to the applicable state as unclaimed property. The specified period of time to report and deliver funds to a state varies by state.
In the event of death, payments of all monies/interest in a User Account shall be made in accordance with Applicable Law.
By creating a User Account, you automatically sign up for various types of alerts via e-mail and mobile notification. We never include your password in these communications, but we may include your name, or email address and information about your portfolio(s) if you are a Client. Anyone with access to your e-mail or mobile device will be able to view these alerts. You may unsubscribe from marketing oriented emails at any time.
The Client hereby appoints Cowrywise as its fund/portfolio manager and grants a limited power-of-attorney with discretionary trading authority to manage and trade the assets in your User Account. Cowrywise accepts this appointment under the terms and conditions set forth.
Our authority will include the ability to manage your User Account utilising your selected Cowrywise investment model to:
You acknowledge that:
As part of the User Account opening process, you will be required to complete a questionnaire (the “Questionnaire”) that will provide us with certain information regarding your financial situation, including but not limited to information regarding your financial situation, goals, objectives and risk tolerance. Cowrywise’s algorithmic-based technology will analyse your responses to the Questionnaire to provide a Cowrywise strategy offering, which will include a portfolio of equities, bonds and/or Funds that are suitable based on your target risk profile, your financial objectives and other information. Please note that you are not under an obligation to select this option and are strictly advised to choose a strategy based on your preference as you are solely responsible for evaluating the merits and risks associated with any investments and the options provided.
You may update your risk profile at any time by updating the responses to the Questionnaire. At a minimum, you will be prompted to review and/or update the responses to the Questionnaire on an annual basis. Your assets are used to purchase the securities to align your account to the corresponding target asset allocation within the recommended portfolio or your selected portfolio. It is your responsibility to update your information in the Questionnaire if your situation changes.
You acknowledge that Cowrywise does not provide:
You acknowledge that neither the information, nor any opinion, contained on the Platform constitutes a solicitation or offer by Cowrywise or its affiliates to buy or sell any securities. Decisions based on information contained on the Platform are the sole responsibility of the Client/User. The information contained on our Platform is for informational purposes only and is not intended to be relied upon as a forecast, research or investment advice. The information on this Platform does not constitute a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Although the material on our Platform is based upon information that Cowrywise considers reliable and endeavours to keep current, Cowrywise does not assure that this material is accurate, current or complete, and it should not be relied upon as such. Any opinions expressed on the Platform may change as subsequent conditions vary. Past performance is no guarantee of future results.
By using and continuing to use and/or utilise our Services/the Platform, you hereby acknowledge and undertake as follows:
Stash shall be used as a means to top up your Savings and Investment Plans, receive pay-outs from Investments, and receive funds from matured Savings Plans. On no account shall you use stash as an alternative bank account for immediate deposits and withdrawals.
The management fee for each strategy is based on the aggregate net asset value in the Client’s User Account.
The annual management fee will be accrued daily and collected monthly or will be pro-rated (if a Client terminates his or her account before a month-end). Management fees will also be pro-rated based on additions or withdrawals to the User Account during the applicable billing period. If a Client requests a withdrawal that will result in insufficient assets to pay any fees that are due at the time of the withdrawal, fees will be collected at the time of the withdrawal.
You hereby acknowledge that you may incur certain other charges imposed by third-party financial institutions. These additional costs may include, and are not limited to bank transfer fees, transfer taxes etc. You understand that these fees are not included in the fee that you pay to Cowrywise.
By using the Services, you authorise Cowrywise to deduct any fees applicable to your User Account directly from your User Account (the “Account Fees”).
Payment of fees generally will be made first from User Account assets in cash, next from the liquidation of cash equivalents, and finally from liquidation of securities held in your Account. Until you terminate your Account, you will be deemed to reaffirm continuously your agreement that Cowrywise may deduct the Account Fees from your User Account.
You understand and agree that we provide the Services for other Clients. You further understand that we and our affiliates may take investment action on behalf of such other Clients, that differ from investment action taken on behalf of your account.
While we provide indicative interest rates/returns with respect to certain plans on our Platform, you recognize that there may be loss or depreciation of the value of any investment and the assets due to the fluctuation of market values, and accordingly the value of assets/interest rates (as applicable) in your User Account may or decrease based on prevailing market circumstances. You represent that we have not made any guarantee, either oral or written, that your investment objective will be achieved or that the value of any User Account assets will not decline.
Your use of Cowrywise's Platform, and the personal information you provide is at your sole discretion. Cowrywise's Platform and all materials, information, products and services included therein, are provided on an AS IS and AS AVAILABLE basis without warranties of any kind from Cowrywise.
COWRYWISE EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, RELATING TO COWRYWISE'S PLATFORM AND/OR SERVICES, CONTENT AND/OR USER INFORMATION, INCLUDING WITHOUT LIMITATION TO THE WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF PROPRIETARY RIGHTS, COURSE OF DEALING OR COURSE OF PERFORMANCE. COWRYWISE DISCLAIMS ANY WARRANTIES, EXPRESS OR IMPLIED:
Cowrywise shall not be liable for any loss affecting the assets held by it on behalf of the Client, where such losses are the result of unforeseen adverse market conditions, government restrictions, exchange or market rulings or suspension of trading.
Cowrywise shall not be liable for any act or failure to act by any third party.
IN NO EVENT SHALL COWRYWISE OR ANY OF ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU FOR ANY DAMAGES WHATSOEVER, INCLUDING WITHOUT LIMITATION INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF COWRYWISE, CONTENT AND/OR USER INFORMATION, INCLUDING BUT NOT LIMITED TO THE QUALITY, ACCURACY, OR UTILITY OF THE INFORMATION PROVIDED AS PART OF OR THROUGH COWRYWISE OR FOR ANY INVESTMENT DECISIONS MADE ON THE BASIS OF SUCH INFORMATION, WHETHER THE DAMAGES ARE FORESEEABLE AND WHETHER OR NOT COWRYWISE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND IN NO EVENT SHALL COWRYWISE'S CUMULATIVE LIABILITY TO YOU EXCEED ₦10,000.00 OR ITS EQUIVALENT IN ANY CURRENCY.
We may from time to time reach out to Clients/Users to provide feedback/testimonials in respect of our Services and/or the Platform. This would usually involve the use of your images, biographical information, recordings, video/audio clips (the “Material”). You acknowledge that the Material may be used in diverse settings within an unrestricted geographic area. You hereby release Cowrywise, its representatives, employees, managers, members, officers, parent companies, subsidiaries, and directors, from all claims and demands arising out of or in connection with any use of the Material, including, without limitation, all claims for invasion of privacy, infringement of your right of publicity, defamation and any other personal and/or property rights. Additionally, you waive any right to royalties or other compensation arising or related to the use of the Material.
You represent and warrant the following and shall promptly notify Cowrywise if any of the following ceases to be true and accurate:
Where we discover that the representations above are untrue or inaccurate or that our Platform and or Services are being used contrary to Applicable Law or for any suspicious transactions; as determined by us, you undertake to indemnify us against any loss, damages or expenses that we may incur as a result of it and further acknowledge that we have an obligation to report your activities to the relevant authorities without recourse to you.
You may terminate your relationship with us at any time subject to specific rules/guidelines applicable to your User Account. Termination is without prejudice to rights and obligations arising prior to the date of termination.
Cowrywise grants you a limited and non-exclusive licence to use our Platform so long as you comply with all our rules.
The content contained on this Platform is owned or licensed by Cowrywise and its third-party information providers and is protected by applicable copyrights, trademarks, service marks, and/or other intellectual property rights. Such content is solely for your personal, non-commercial use. Accordingly, in addition to specific restrictions outlined under clause 8.2, you may not copy, distribute, modify, post, frame or deep link this Platform, including any text, graphics, video, audio, software code, user interface design or logos.
You may download material displayed on the Platform for your personal use provided you also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, repost, or use the content on the Platform for public or commercial purposes, including all text, images, audio, and video. Modification or use of the materials for any other purpose violates Cowrywise’s intellectual property rights.
All trademarks, service marks, trade names, and logos displayed on the Platform are proprietary to Cowrywise and/or their respective owners. Nothing contained on the Platform should be construed as granting, by implication, estoppel, or otherwise, any licence or right to use any trademark displayed on the Platform without the written permission of Cowrywise or such other third party that may own the trademark displayed on the Platform. Your use of the trademarks displayed on the Platform, except as provided herein, is strictly prohibited.
The use of the images displayed on the Platform by you, or anyone else authorised by you, is prohibited. Any unauthorised use of the images may violate copyright laws, trademark laws, and the laws of privacy and publicity, and communications, as well as other regulations and statutes. If you download any information from the Platform, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.
Cowrywise is only for use in Nigeria
Cowrywise is only available for use in the Federal Republic of Nigeria. We make no representation that Cowrywise is appropriate or available for use outside the Federal Republic of Nigeria. Similarly, we make no representations that accessing Cowrywise from locations outside the Federal Republic of Nigeria is legal or permissible under Applicable Law. If you access Cowrywise from areas outside of the Federal Republic of Nigeria, you do so at your own risk and are yourself responsible for compliance with local laws.
The failure of either party to exercise in any respect any right provided for herein shall not be deemed a waiver of any further rights hereunder.
You hereby authorise the delivery of notices by (a) Cowrywise via email (in each case to the address that you provide), or (b) you, via email to firstname.lastname@example.org or to such other addresses as Cowrywise may specify. The date of receipt shall be deemed the date on which such notice is transmitted.
You can also contact Cowrywise by phone at +234 (0) 903 000 0857 or via physical mail at: