These are the terms and conditions (conditions of use) upon which you may use the MoPesa product (as defined herein) provided by KCB (as defined herein) and MTN MOMO (as defined herein), the acceptance of which constitute a binding contract between yourself and KCB.

2.1 In these Terms and Conditions, the following words, and expressions (save where the context requires otherwise) bear the following meanings:

2.1.1 “Agreement’’ means these conditions of use.

2.1.2 ‘’Authorities’’ means the Bank of Uganda, the Uganda Revenue Authority, the Financial Intelligence Authority, or any other legally constituted government body as the context may require.

2.1.3 Bank/ KCB” means KCB Bank Uganda Limited, incorporated in Uganda as a limited liability company under the Companies Act, 2012 and duly licensed as a bank under the Financial Institutions Act, 2004.

2.1.4 “Credit Reference Bureau” means a credit reference bureau duly licensed under the Financial Institutions Act pursuant to the Financial Institutions (Credit Reference Bureau) Regulations, 2022 as amended, revised, or promulgated from time to time, to inter alia, collect and facilitate the sharing of customer credit information.

2.1.5 “Customer” means a subscriber (you) and every other person in whose names an account for MoPesa is registered.

2.1.6 “Customer Care Centre” means the MTN MOMO Customer Care Centre or Bank Branches situated at locations advertised or such other Bank Agents as may be notified to the Customer by the Bank from time to time.

2.1.7 ‘’Conditions of use’’ means these terms and conditions as may be varied by us from time to time.

2.1.8 “E-Money” means the electronic monetary value depicted in your MTN MOMO Account representing an equal amount of cash.

2.1.9 “Equipment” includes your mobile phone handset and SIM Card or other equipment which, when used together, enables you to access MTN MOMO services and, in each case, is approved for use within the Republic of Uganda by the relevant authority.

2.1.10 “Access Fee” means the fee charged for the KCB MTN MOMO service as stated in Tables A and B and include any fees and charges payable for the use of the Services as published by the Bank on the Bank’s website and/or MTN MOMO’s website and/or the daily newspapers in Uganda or by such other means as the Bank or MTN MOMO shall in its sole discretion may determine. Access Fees are subject to change at any time at the Bank’s sole discretion subject to giving you thirty (30) days’ notice of the proposed change.

2.1.11 “Interest rate” means the rate charged for the credit facilities or bank credit facilities or the rate paid on savings with the bank as stated in Table A and B.

2.1.12 “MoPesa” means a bank account held by a Customer with the Bank and which is opened and operated in accordance with the Terms and Conditions herein contained.

2.1.13 “KCB MTN MOMO Products” means the other Bank accounts, products or services offered to the Customer to complement the MoPesa.

2.1.14 “KCB MTN MOMO Menu” means the KCB MTN MOMO Menu on the MTN MOMO System.

2.1.15 “KCB MTN MOMO Loan Menu” means the KCB MTN MOMO Loan Menu that can be used by customers to apply for loans on the MTN MOMO System.

2.1.16 KCB MTN MOMO system’’ means the system operated by KCB and MTN MOMO in Uganda for the provision of the KCB MTN MOMO Services using the Network.

2.1.17 Credit limit’’ means the maximum amount of credit the Bank extends to the customer on a line of credit.

2.1.18 “MTN MOMO Account” means your mobile money store of value, being the record maintained by MTN MOMO of the amount of E-Money from time to time held by you in the MTN MOMO System.
2.1.19 “MTN MOMO Pin” means your personal identification number being the secret code used to access and operate the MTN MOMO System & your MoPesa.

2.1.20 “MTN MOMO Service” means the services offered by MTN Mobile Money (U) Limited, which include services enabling cash deposits, cash withdrawals, payment transactions and transfer of funds.

2.1.21 “MTN MOMO System” means the system operated by MTN MOMO in Uganda for the provision of the MTN MOMO Service using the Network.

2.1.22 “MTN MOMO Subscriber” means any person registered to use the MTN MOMO System to send or receive money or make payments.

2.1.23 “Network” means the mobile cellular network operated by MTN MOMO.

2.1.24 “Request” means a request or instruction received by the Bank from you or purportedly from you through the Network and the System and upon which the Bank is authorized to act.

2.1.25 “MTN MOMO” means MTN Mobile Money (U) Limited, incorporated in Uganda as a limited liability company under the Companies Act. 2.1.26 “Services” shall include any form of financial services (Digital Lending and Digital saving as per breakdown in Table A and Table B) or products that the Bank may offer you pursuant to this Agreement and as you may from time to time subscribe to, and “Service” shall be construed accordingly.

2.1.27 SIM Card” means the subscriber identity module which, when used with the appropriate mobile phone handset, enables you to access the Network and to use the MTN MOMO and KCB MTN MOMO System.

2.1.28 “SMS” means a short message service consisting of a text message transmitted from one mobile phone to another.

2.1.29 “System” means the Bank’s electronic banking and communications software enabling the Customer to communicate with the Bank for purposes of the Services. The System and the Services will, for the purpose of this Agreement, be accessed through the MTN MOMO Network and systems.

2.1.30 “We,” “our,” and “us” means the Bank and MTN MOMO and includes the successors and assigns for both.

2.1.31 “You” or “your” means the Customer and includes the personal representatives of the Customer.

2.1.32 The word “Customer” shall include both the masculine and the feminine gender as well as juristic persons.

2.1.33 Words importing the singular meaning where the context so admits include the plural meaning and vice versa.

3.1 You will be deemed to have read, understood, and accepted the conditions of use as amended from time to time and which take effect;
a. Upon clicking accept on the KCB MTN MOMO Menu.
b. Upon your continued use and operation of your MoPesa account after registration.

3.2 These Conditions of Use may be amended or varied by the Bank from time to time, subject to at least thirty (30) days prior notice to you. The continued use of your MoPesa after the lapse of the said notice period will constitute your agreement to be bound by the terms of any such amendment or variation.

4.1 You may open a MoPesa account at any time on your own phone or with our help at any MTN MOMO Customer Care Centre in the Republic of Uganda.

4.2 To register for a MoPesa account you will be required to provide the following information for inclusion in your application form.

4.2.1. You must be a registered and active MTN MOMO Subscriber for at least six (6) months immediately preceding the date of your application.

42.2. You must be 18 years and above.

4.3 To open a MoPesa account on your own, you will be required to make an electronic application using your equipment via the KCB MTN MOMO Menu on the MTN MOMO Network and system.

4.4 By making the electronic application on the KCB MOMO Menu, you accept and authorize us to request MTN MOMO for your personal information or documents held by MTN MOMO pursuant to the agreement between you and MTN MOMO.

4.5 The personal information or documents that we shall request from MTN MOMO about you will include.
i. Your phone number.
ii. Name.
iii. Date of birth.
iv. National Identity Number or Passport Number.
v. Mobile Money Wallet information.
This information will enable us to identify and comply with the regulatory “Know Your Customer” requirements (together with the “Personal Information”) and to verify the authenticity and status of your MTN MOMO Account.

4.6 Additionally, you authorize the Bank to verify the authenticity and status of your MTN MOMO Account for the provision of MTN MOMO digital lending and savings products and services, as the Bank shall require for the purpose of providing you with the Services.

4.7 You hereby accept, authorize and consent to MTN MOMO disclosing your personal information to the Bank for the aforesaid use of the Personal Information.
You also agree and authorize the Bank to obtain and procure your Personal Information contained in the credit reference bureau, and further agree and consent to the disclosure and provision of such Personal Information by the credit reference bureau to the Bank.

4.8 You hereby acknowledge and authorize the Bank to verify your Personal Information received from MTN MOMO against the information received from the credit reference bureau.

4.9 The Bank reserves the right to request further information from you pertaining to your application for a MoPesa account at any time. Failure to provide such information within the time required by the Bank may result in the Bank declining to accept your application for a MoPesa.

4.10 Once all the necessary verifications have been completed, the Bank will share its acceptance or rejection of your application for a MoPesa account via an SMS that will be sent to your MTN Mobile phone number.

4.11 You accept and acknowledge that the acceptance by us of your application for a MoPesa account does not create a contractual relationship or contractual obligations between you and MTN MOMO beyond the terms and conditions that apply to your MTN MOMO Account as amended from time to time.

4.12 We may revoke, suspend (bar), restrict or terminate the provision of the services (in whole or in part) and /or close your MoPesa Account without informing you and without any liability whatsoever (although we will, where possible, try to inform you that such action is or may be taken) under the following circumstances.

4.12.1 If we are aware or have reason to believe that your Mobile Equipment or MoPesa Account or PIN number used in relation to the MoPesa Account is/are being used in unauthorized, unlawful, improper or fraudulent or for criminal activities;

4.12.2 If you do not comply with any of the conditions relating to the MoPesa services, including these conditions of use.

4.12.3 If you notify us that your Mobile Equipment has been lost or stolen or your pin has been lost or disclosed to any other person,

4.12.4 If you do anything (or allow anything to be done) with your Mobile Equipment or MoPesa Account, which we think may damage or affect the operation or security of the Network or MoPesa services.

4.12.5 for reasons outside of our control.

4.13 The Bank reserves the right to decline your application for a MoPesa or to revoke the same at any stage at the Bank’s sole discretion. However, the Bank shall at all times provide you with an explanation for declining your application.

5.1 To access the MoPesa services, Your SIM must always be operational (active).

5.2 Once you access the MoPesa system/ platform, all requests you make through the system will be treated as valid requests, and hence, we shall hold you accountable for those requests.

5.3 We shall be entitled to accept and act on those requests unless the requests are ambiguous or incomplete. You hereby irrevocably authorize the Bank to act on all requests received by the Bank from you (or purportedly from you) through the System and to hold you liable in respect thereof.

5.4 We shall be deemed to have acted properly and to have fully performed all our obligations owed to you, notwithstanding that your request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any such requests on which the Bank may act if the Bank has in good faith and without negligence acted in the belief that instructions have been sent by you.

5.5 The Bank may, in its absolute discretion, decline to act on or in accordance with the whole or any part of your request pending further enquiry or further confirmation (whether written or otherwise) from you.

5.6 You agree to indemnify us against all claims, losses, damages, costs and expenses arising in consequence of, or in any way relating to, the Bank having acted in accordance with the whole or any part of any of your requests.

5.7 You acknowledge that to the full extent permitted by law, we shall not be liable for any unauthorized drawing, transfer, remittance, disclosure, any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your MTN MOMO PIN, password, ID or by any other means occasioned by your negligence.

6.1 To cancel any request made, you will need to call the Customer Care Centre and request for the cancellation to be made.

6.1 Cancellation and initiation of a request will only be approved and actioned by the Bank.

6.2 Cancellation of the loan by the customer will only happen when the loan has been fully repaid.

6.3 You will be charged a cancellation fee for any cancellation request made on your MoPesa account.

7.1 You will not be allowed to overdraw your MoPesa Account.

7.2 We shall be entitled to demand repayment of any money overdrawn from your account together with interest and penalties as stated in Table A

8.1 The Bank shall have a general lien over all your property/assets in its possession if you owe any money to the Bank, including but not limited to cash, goods, and any other.

8.2 Where you are indebted to the Bank in the circumstances giving the Bank a right of set off, all property held in your name or to your account by the Bank shall be deemed to be held as security for the debt.

9.1 The Bank may, upon notice, combine/consolidate your MoPesa with any of your other accounts held in the Bank, whether current, loan, savings, deposit, term deposit, joint or any other type, and thereafter set off any amount held to your credit against any indebtedness you owe to the Bank.

9.2 The Bank may, upon notice through SMS to you from time to time set off any amount held to your credit on your MOMO Account against any indebtedness you owe to the Bank.

9.3 The Bank may, upon notice to you, set off your MoPesa against any other account or indebtedness in respect of which you are liable, notwithstanding that some other person may also be liable in respect thereof. In such circumstances, upon receipt of an indemnity acceptable to the Bank (against costs) and at your expense, the Bank will give you any assistance necessary in obtaining a refund.

9.4 If the set-off is for debt recovery, the Bank will provide you with a detailed breakdown of the costs and expenses recovered from you, together with a justification for such costs and expenses

10.1 You may request for a statement or activity report in respect of your MoPesa account using your Equipment. This will be called the “KCB MTN MOMO Mini Statement”.

10.2 The KCB MTN MOMO Mini Statement shall provide details of the last 4 (four) transactions (or such other number of transactions as determined by the Bank) in your KCB MOMO Account initiated from your Equipment.

10.3 It shall not be sent to you in printed form but shall be delivered to you either by SMS to the MTN MOMO mobile phone number associated with your MTN MOMO Account at no cost.

Complaints may be made in person at the Customer Care Centre, in writing, by post or email using the telephone or email contacts on the MTN MOMOs website.

If all the above avenues fail, please use the contacts below.
• WhatsApp: 0772123100
• Email: customerservice1.UG@mtn.com
• Social Media: Customers can reach MTN through Twitter/Facebook/Instagram. Handles are @mtnug on all channels.

Call: 100 is the helpline number.

11.1 The Bank will take all reasonable measures within its means to resolve your complaints within a reasonable time.

11.2 All complaints will be handled in accordance with the Bank’s complaints handling procedures, which are available on request from any Bank Branch or the Customer Care Centre. Where a notification regarding your complaint or any other matter is expected from the Bank but not received, you may make a further complaint within a reasonable time after non-receipt of such notification.

11.3 Please note that applicable tariffs will be charged by your telephone and internet service provider(s) when communicating with the Customer Care Centre.

12.1 To access the MoPesa services, your MoPesa account must be always operational (“active”). If you do not initiate any transactions on the account for a consecutive period of 9 (Nine) months, it shall be declared inactive by the Bank in accordance with the following procedure;

12.1.1 You shall be given one-month notice before the account is declared inactive, informing you that your account shall be declared inactive unless there is a transaction on the MTN Account.

12.1.2 Upon expiry of the notice period, we shall send you a seven-day notice informing you of the classification of your MoPesa as inactive.

12.1.3 Upon expiry of the notice period, we shall block your account and shall not permit any further transactions unless you reactivate your account.

12.1.4 If you seek to reactivate your account, you will be required to send an email or letter to the Bank requesting for your account to be reactivated.

12.2 Your MoPesa will be classified as dormant if it remains inactive for a further period of 9 (Nine) months, in which case the account balances shall be transferred from your MoPesa to a central account for security reasons.

12.3 You will not be allowed to transact on an inactive or dormant account, but the Bank shall, upon your written (e.g., letter/email) request, inform you of the procedure to be followed to re activate your inactive/dormant account.

12.4 The Bank may (including without limitation) apply any one or more of the following conditions to your MoPesa account upon its classification as dormant:

(i) confirm the validity and authenticity of the first transaction reactivating the account;
(ii) suspend the payment of interest (if applicable);
(ii) suspend the issuance of statements;
(iv) charge a maintenance fee as the Bank may determine from time to time.

12.5 If your MoPesa account will not have any transactions initiated by you for a continuous period of five (5) years or if you shall not have communicated with the Bank for a continuous period of five (5) years regarding your MoPesa account, such account will be presumed abandoned and shall be transferred to Bank of Uganda as such.

13.1 The Bank may debit your MoPesa with bank access fees, penalties, costs and other charges in respect of the MTN MOMO digital lending and savings products and services provided to you.

13.2 The Bank will give you at least thirty (30) days’ notice of intention to effect new charges, access fees, costs via SMS, and/or notices in the daily newspapers.

14.1 All payments to be made by you in connection with these terms and conditions are calculated without regard to any taxes payable by you. If any taxes are payable in connection with the payment, you must pay the Bank an additional amount equal to the payment multiplied by the appropriate rate of tax. You must do so at the same time as making the payment.

14.2 Amounts in your MoPesa may be subject to withholding tax in accordance with the applicable Ugandan, foreign or international laws.

14.3 You consent and agree that the Bank may withhold amounts in your MoPesa or any other of your accounts held with the Bank at any time if any Ugandan or foreign tax authority requires the Bank to do so or whenever the Bank is otherwise required by such law or needs to comply with regulatory requirements or with any applicable order
or sanction of such tax authority or court.

15.1 MoPesa

15.1.1 As a holder of a MoPesa account, you will be entitled, subject to these Terms and Conditions, to transfer money from your MTN MOMO Account and/or make withdrawals therefrom into your MTN MOMO Account and/or to borrow money from the Bank as follows:

i. You may make deposits into your MoPesa or withdraw funds therefrom using the KCB MTN MOMO Menu on your Equipment.
ii. You will not be required to notify the Bank in advance of making a deposit or withdrawal into or from your MoPesa.
iii. The Bank shall channel withdrawals from your MoPesa into your MOMO Account upon your request.
iv. You will not be required to pay Transaction Fees or any other charges or commissions to MTN MOMO in respect of transactions effected between your MOMO Account and your MoPesa account through the MTN MOMO System.
v. Transaction Fees and applicable Bank fees, commissions and other charges will, however, be charged on all transactions between your other Bank account (s) and your MoPesa, as well as on any transactions on your MoPesa account facilitated through MoPesa.
vi. There will be no restrictions on the number of deposits into your MoPesa over any period of time, as highlighted in Table B.
vii. Subject to the availability of sufficient funds to your credit on MoPesa account, the Bank shall impose no restrictions on the number of withdrawals you may make from your MoPesa over any period of time. You may withdraw up to the maximum allowable limit under the MoPesa Service subject to MTN transaction allowable
limits.
viii. The maximum deposit limit on your MoPesa shall be as per the table below or such other minimum or maximum amount as the Bank may from time to time in its sole discretion determine.
ix. Through the KCB MTN MOMO Menu on your Equipment, you may establish standing orders and instruct the Bank to make loan repayments and establish term deposits using funds from your MoPesa.
x. As a holder of a MoPesa account, subject to these terms and conditions, you may apply for a loan from the Bank using the KCB MTN MOMO Menu on your Equipment.

15.2 KCB MTN MOMO Savings Account15.2.1 Only holders of MoPesa will be eligible to open KCB MTN MOMO Savings Accounts.

15.2.2 The maximum deposit on your KCB MTN MOMO Savings Account shall be as per the table B below or as the Bank and MTN MOMO may, from time to time in their sole discretion, determine.

15.2.3 The minimum deposit into your KCB MTN MOMO Savings Account from MTNMOMO shall be a minimum as per the table B below.

15.2.4 You shall not be entitled to overdraw your KCB MTN MOMO Savings Account.

15.2.5 In the event that your KCB MTN MOMO Savings Account does become overdrawn, debit interest shall accrue to the account on the debit balance.

15.3 KCB MTN MOMO Fixed Savings Accounts

15.3.1 You may, from time to time, request the Bank to lock the deposits held in your MoPesa as a Fixed deposit for such specified duration, interest rate and other terms as may be agreed between you and the Bank.

15.3.2 Fixed deposits are available as per the terms in the table B below.

16.1 Upon opening your MoPesa, you will receive a confirmation message bearing your credit limit (the “Credit Limit”). The Bank shall not grant you a new Loan if you have any Loan outstanding at the end of the Loan period but shall roll over such unpaid amounts in accordance with these terms and conditions. The Access Fees payable for transactions effected in respect of your MoPesa from time to time will apply as stated in table A

16.2 Customers who do not have an allocated Credit Limit will be required to save and build a history to qualify.In consideration of the Bank granting you the Loan, you shall pay the Bank access Fees as provided in Table A of these terms and conditions.

16.3 In the event that you do not repay the loan including the access fee in full within the agreed repayment period, the bank will automatically roll over any outstanding amount in respect of the loan to the next loan repayment period but only up to a maximum rollover period of thirty days (the rollover period) from the date when the loan was first granted as provided in Table A.

16.4 The Bank shall be entitled to terminate this Agreement and close your MoPesa Account in accordance with these terms and conditions without prejudice to any of its rights accruing to it if you fail to repay the Loan and/or the Transaction Fees due thereon within the agreed repayment period.

16.5 The Bank shall utilize funds in KCB accounts opened and operated by you to offset any amounts outstanding and due from you to the Bank in respect of your MoPesa Loan.

16.6 The Bank shall utilize the funds held in your MoPesa account to pay off any amounts outstanding from your Loan. The Bank shall only exercise this option after giving you notice of default.

16.7 You hereby expressly consent and authorize the Bank to disclose, respond, advise, exchange and communicate the details or information pertaining to your MoPesa Account and or Loan to the Credit Reference Bureaus or any regulator or authority as required under the Financial Institutions Act, 2004 and the Financial Institutions (Credit Reference Bureau) Regulations, 2022, as published, amended or revised from time to time or any other law.

16.8 You also hereby expressly consent and authorize the Bank to disclose, respond, advise, exchange and communicate the details or information pertaining to your MoPesa and or Loan to third parties involved in the administration of your MoPesa and or Loan, underwriting of insurance policies, updating of databases, recovery or provision of user support.

17.1 You will be able to place standing orders from:
i. MTN MOMO to MoPesa
ii. MTN MOMO to Target Savings Account
iii. MoPesa to Target Savings Account

17.2 You will also be able to stop the standing orders made on time.

17.3 The Customer can have only one standing order account to apply for the savings product as per Table A below.

18.1 You hereby expressly consent and authorize the Bank to disclose, receive, record or utilize your personal information or information or data relating to your MoPesa and any details of your use of the Services:

18.1.1 to and from the Bank’s service providers, dealers, agents or any other company that may be or become the Bank’s subsidiary or holding company for reasonable commercial purposes relating to the Services;

18.2 You authorize the Bank to disclose any information relating to your MoPesa to any Ugandan, foreign or international law enforcement or governmental agencies so as to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud or to any other institution or third party as required by the laws of Uganda or any other country and or as the Bank may deem necessary.

19.1 You shall, at your own expense, provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the System and the Services.

19.2 You shall be responsible for ensuring the proper performance of your Equipment. The Bank or MTN MOMO shall not be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall the Bank or MTN MOMO be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the Equipment. You shall be responsible for charges due to any service provider the bank and MTN MOMO providing you with connection to the Network, and the Bank shall not be responsible for losses or delays caused by any such service provider.

19.3 You shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by the Bank concerning the use of the System and Services.

19.4 You agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your KCB MTN MOMO PIN secret and secure. You shall ensure that your KCB MTN MOMO PIN does not become known or come into possession of any unauthorized person. MTN MOMO and the Bank shall not be liable for any disclosure of your KCB MTN MOMO PIN to any third party, and you hereby agree to indemnify and hold the Bank and MTN MOMO harmless from any losses resulting from any KCB MTN MOMO PIN disclosure.

19.5 You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from the Bank are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected.

19.6 You shall immediately inform the Bank through the Customer Care Centre in the event that:

19.6.1 You have reason to believe that your KCB MTN MOMO PIN is or may be known to any person not authorized to know the same and/or has been compromised; and/or

19.6.2 You have reason to believe that unauthorized use of the Services has or may have occurred or could occur, and a transaction may have been fraudulently input or compromised.

19.7 You shall at all times follow the security procedures notified to you by the Bank from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your MoPesa’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued, or the relevant functions are not performed by anyone other than a person authorized to do so.

20.1 In the absence of any negligence on the side of the Bank, the Bank shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of (a) the failure of any of your Equipment, or (b) any other
circumstances whatsoever not within the Bank’s control including, without limitation, force majeure, terrorist or any enemy action and adverse weather or atmospheric conditions.

20.2 In the absence of negligence on its part, MTN MOMO and the Bank will not be liable for any losses or damages suffered by you as a result of or in connection with:

20.2.1 unavailability of sufficient funds in your MTN MOMO Account and/or in your MoPesa;

20.2.2 the money in your MoPesa being subject to legal process or other encumbrance restricting payments or transfers thereof;

20.2.3 your failure to give proper or complete instructions for payments or transfers relating to your MoPesa;

20.2.4 any fraudulent or illegal use of the Services, the System and/or your Equipment or

20.2.5 Your failure to comply with these Terms and Conditions and any document or information provided by the Bank concerning the use of the System and the Services.

20.3 Under no circumstances shall the Bank be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services, even where the possibility of such loss or damage is notified to the Bank.

20.4 All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

You acknowledge that the intellectual property rights in the System (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that the Bank provides to you through the System or otherwise are vested either in the Bank or in other persons from whom the Bank has a right to use and to sub- license the System and/or the said documentation. You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the System and associated documentation without the prior written consent of the Bank.

In consideration of the Bank complying with your instructions or Requests in relation to the MoPesa account, you undertake to indemnify the Bank and hold it harmless against any loss, charge, damages, expenses, fees or claims which the Bank may suffer or incur or sustain thereby and you absolve the Bank from all liability for loss or damage which it may sustain from the Bank acting on your instructions or Requests or in accordance with these Terms and conditions.

23.1 The Bank may at any time, upon notice to you, terminate or vary its business relationship with you and close your MoPesa account and in particular, but without prejudice to the generality of the foregoing, the Bank may cancel credits which it has granted and require the repayment of outstanding debts resulting therefrom within such time as the Bank may determine.

23.2 Without prejudice to any of the Bank’s rights under these terms and conditions, the Bank may, at its sole discretion, suspend or close your MoPesa account:

23.2.1 if you use the MoPesa account for unauthorized purposes or where the Bank detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;

23.2.2 if your MTN MOMO Account or agreement with MTN MOMO is terminated for whatever reason,

23.2.3 if the Bank is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;

23.2.4 if the Bank reasonably suspects or believes that you are in breach of these terms and conditions (including non-payment of any Loan amount due from you where applicable);

23.2.5 where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety;

23.2.6 to facilitate update or upgrade the contents or functionality of the Services from time to time;

23.2.7 where your account becomes inactive or dormant;

23.2.8 if the Bank decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion.

23.3 You may close your MoPesa account at any time at any Customer Care Centre.

23.4 If your MoPesa account has any credit balance at the time of its closure, the Bank will return any such balance to you, less any applicable fees. If your KCB MOMO Loan Account is in arrears at the time of closure of your MoPesa account, you agree to pay to the Bank immediately all amounts you owe under these terms and conditions.

23.5 Termination shall not affect any accrued rights and liabilities of either party.

23.6 If the Bank receives notice of your demise, the Bank will not be obliged to allow Sensitivity: Publicany operation or withdrawal from your MoPesa by any person except upon production of administration letters from a competent authority or confirmed grant of letters of administration or confirmed grant of probate by your legal representatives duly appointed by the Court.

24.1 These terms and conditions (as may be amended from time to time) form a legally binding agreement binding on you and your personal successors.

24.2 This Agreement and any rights or liabilities accruing thereunder may not be assigned by you to any other person.

24.3 The Bank may vary or amend these terms and conditions and the Transaction Fees at any time with at least thirty (30) days prior notice to you. Any such variations or amendments may be published in posters or pamphlets available at MTN MOMO’s Agents outlets, Bank branches, in the daily newspapers, on the Bank and/or MTN MOMO’s website and/ or by any other means as determined by the Bank and any such variations and amendments shall take effect immediately upon publication.

24.4 No failure or delay by either yourself or the Bank in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy.

24.5 The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.

24.6 If any provision of these Terms and Conditions shall be found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable, the invalidity or unenforceability of such provision shall not affect the other provisions herein.

24.7 Any addition or alteration to these Terms and Conditions may be made from time to time by the Bank and of which notice has been given to you by way of publication as provided in subparagraph 24.3 shall be binding upon you as fully as if the same were contained in these terms and conditions.

25.1 The Bank may send information concerning the MoPesa via SMS to the MTN MOMO mobile phone number associated with your MOMO Account.

25.2 You hereby consent to the Bank contacting you through your known contact channels, such as telephoning, SMS, and emailing, among others, in respect of the Services.

26.1 You may contact the Customer Care Center to report any disputes, claims or MoPesa discrepancies.

26.2 Any dispute arising out of or in connection with this Agreement that Customer Care Centre representatives do not resolve shall be referred to the courts of competent jurisdiction.

26.3 This Agreement shall be governed by and construed in accordance with the laws of the Republic of Uganda.

TABLE A: KCB MTN MOMO Consumer loans Commercial terms.

Consumer Loan Product	3days	7 Day Loan	14 Day Loan	30 Day Loan
Access Fees	2.5%	5%	7%	9%
Loan tenures	3 days	7 days	14 days	30 days
Min Loan Amount	UGX 5,000	UGX 5,000	UGX 5,000	UGX 5,000
Max Loan Amount	UGX 3,000,000	UGX 3,000,000	UGX 3,000,000	UGX 3,000,000
Penalty/Default Fee (One-off fee on outstanding amount)				10% (Outstanding amount). Penalty kicks in after day 30.
Grace Period	No Grace Period	No Grace Period	No Grace Period	No Grace Period
Rollover start Day	4th Day at 00:01	8th Day at 00:01	15th Day at 00:01	Loan becomes past due.
Rollover dynamics	3-day tenure rolls over to 7-day tenure	7-day tenure rolls over to 14-day tenure	14-day tenure rolls over to 30-day tenure	Loan becomes past due.
Rollover interest	2.5% on the outstanding amount	2% on the outstanding amount	2% on the outstanding amount	N/A
Lien-Start				End of rollover duration at 00:01
Lien-end				Until the Loan is fully repaid.

Consumer Loan Product
Access Fees

• 3 days
  2.5%
• 7 Day loan
  5%
• 14 Day loan
  7%
• 30 Day loan
  9%

Consumer Loan Product
Loan tenures

• 3 days
  3 days
• 7 Day loan
  7 days
• 14 Day loan
  14 days
• 30 Day loan
  30 days

Consumer Loan Product
Min Loan Amount

• 3 days
  UGX 5,000
• 7 Day loan
  UGX 5,000
• 14 Day loan
  UGX 5,000
• 30 Day loan
  UGX 5,000

Consumer Loan Product
Max Loan Amount

• 3 days
  UGX 3,000,000
• 7 Day loan
  UGX 3,000,000
• 14 Day loan
  UGX 3,000,000
• 30 Day loan
  UGX 3,000,000

Consumer Loan Product
Penalty/Default Fee (One-off fee on outstanding amount)

• 3 days
• 7 Day loan
• 14 Day loan
• 30 Day loan
  10% (Outstanding amount). Penalty kicks in after day 30.

Consumer Loan Product
Grace Period

• 3 days
  No Grace Period
• 7 Day loan
  No Grace Period
• 14 Day loan
  No Grace Period
• 30 Day loan
  No Grace Period

Consumer Loan Product
Rollover Start Day

• 3 days
  4th Day at 00:01
• 7 Day loan
  8th Day at 00:01
• 14 Day loan
  15th Day at 00:01
• 30 Day loan
  Loan becomes past due.

Consumer Loan Product
Rollover dynamics

• 3 days
  3-day tenure rolls over to 14-day tenure
• 7 Day loan
  7-day tenure rolls over to 14-day tenure
• 14 Day loan
  14-day tenure rolls over to 14-day tenure
• 30 Day loan
  Loan becomes past due.

Consumer Loan Product
Rollover interest

• 3 days
  2.5% on the outstanding amount
• 7 Day loan
  2% on the outstanding amount
• 14 Day loan
  2% on the outstanding amount
• 30 Day loan
  N/A

Consumer Loan Product
Lien-Start

• 3 days
• 7 Day loan
• 14 Day loan
• 30 Day loan
  End of rollover duration at 00:01

Consumer Loan Product
Lien-end

• 3 days
• 7 Day loan
• 14 Day loan
• 30 Day loan
  Until the Loan is fully repaid.

Table B : KCB MTN MOMO Consumer Savings Products