These Terms & Conditions (“Terms”) govern your use of the KOLOWISE mobile application and services. By registering for or using KOLOWISE, you agree to these Terms.
If you do not agree with these Terms, you should not use KOLOWISE.
KOLOWISE is operated by: Kolowise Partners
CAC Registration Number: 9594478
FLAT 7, BLOCK DSP, SOUTHPOINTE ESTATE, ORCHID ROAD, LEKKI, LAGOS STATE, NIGERIA
KOLOWISE operates in Nigeria through regulated financial infrastructure provided by Anchor. These Terms should be read together with the KOLOWISE Privacy Policy.
To use KOLOWISE, you must:
KOLOWISE currently provides personal accounts only. Business, corporate, joint or multi-user accounts are not supported unless KOLOWISE expressly introduces them. You may not allow another person to use your account.
You are responsible for:
You must not:
KOLOWISE may use:
You must keep authentication credentials confidential. If you believe your account or device has been compromised, you must notify KOLOWISE promptly. KOLOWISE may require additional verification before restoring access or authorizing a new device.
KOLOWISE operates a progressive verification model. Depending on your account, transaction activity, and risk profile, you may be required to provide:
KOLOWISE may use third-party providers, including Prembly, for identity and compliance-related checks. Failure to provide information required for verification may result in restricted access, suspension, decline, or inability to perform certain transactions.
KOLOWISE and its regulated financial partners may conduct:
PEP status does not automatically prevent a person from using KOLOWISE. A PEP may be subject to Enhanced Due Diligence and additional monitoring. KOLOWISE may restrict or decline access where required by applicable law, regulatory requirements, provider requirements or its risk-management procedures.
KOLOWISE may apply transaction, balance and product limits based on:
The applicable limit is determined by the lowest applicable restriction.
These limits are KOLOWISE product limits and are not represented as regulatory limits. KOLOWISE may change product limits where reasonably necessary for security, product, regulatory or operational reasons.
For newly activated accounts, KOLOWISE may apply temporary safety restrictions. These may include:
The proposed initial safety period is 24 hours, although risk controls may extend restrictions where necessary.
The KOLOWISE Wallet allows eligible users to:
Customer funds are held through the regulated financial infrastructure provided by Anchor. KOLOWISE does not itself represent that it is a bank or deposit-taking institution. Funds may be subject to KYC, transaction, product, fraud, security and regulatory restrictions.
KOLOWISE may support funding through available payment methods, including:
Supported methods may change. Funding transactions are subject to applicable provider rules and verification requirements.
Withdrawals may be made only to your verified bank account, subject to applicable eligibility and security requirements. KOLOWISE currently intends withdrawals to be processed instantly, subject to provider, bank, system, compliance and security conditions.
A withdrawal may nevertheless be delayed, restricted or rejected where:
Applicable fees will be disclosed to you before you confirm a withdrawal where technically and operationally possible. The current KOLOWISE withdrawal fee is ₦50. Additional charges may be imposed or deducted by the relevant financial/payment provider.
For example, where a withdrawal request is ₦5,000, the KOLOWISE withdrawal fee may reduce the amount submitted for processing. The financial provider may separately deduct its applicable charge, resulting in a lower final amount received by you.
KOLOWISE will not describe a provider-imposed charge as a KOLOWISE fee. Any provider or regulatory charges applicable to a transaction are subject to the relevant provider rules and applicable law.
Drip is KOLOWISE’s structured savings product. You may create a Drip by selecting the available savings configuration provided in the application. A Drip may include:
You may cancel a Drip before it starts.
Breaking an Active Vault
If you break/cancel an active vault where the product permits breaking, a 3.5% break fee applies. The applicable amount and fee should be displayed before you confirm the action.
Scheduled Release Failure: If a scheduled release fails because of a wallet, provider, or technical issue, the funds remain recorded in the relevant Drip vault; the release is not treated as successfully completed; KOLOWISE may retry the transaction where technically safe using appropriate controls to prevent duplicate releases.
At the end of the applicable Drip cycle, funds are handled according to the product configuration displayed to you in the application. Where funds are eligible for automatic return, they will be returned to your Wallet automatically.
Flex is KOLOWISE’s controlled-spending product. Flex allows you to allocate funds for spending while applying a defined access and withdrawal cooldown.
Minimum Term: The minimum Flex term is 7 days.
Cooldown: The Flex cooldown is the waiting period required between consecutive withdrawals from your Flex Vault. The current product rule is: minimum cooldown 7 days; maximum cooldown 30 days; the cooldown generally corresponds to approximately one-eighth of the selected savings duration, subject to the minimum and maximum limits configured by KOLOWISE.
The exact cooldown applicable to your Flex Vault will be displayed in the application.
Cancelling Flex
You may cancel a Flex Vault. A 3.5% break/cancellation fee applies when you cancel or break a Flex Vault. The applicable fee should be displayed before you confirm cancellation.
A current Flex Vault cannot be edited after creation. However, where the application provides the option, you may extend the duration of an existing Flex Vault. When a Flex Vault reaches maturity, eligible remaining funds will automatically return to your Wallet.
KOLOWISE may charge fees for certain services or transactions. Current applicable fees include:
Third-party/provider charges may also apply. KOLOWISE will display applicable KOLOWISE charges before confirmation where reasonably possible. KOLOWISE does not charge a fee for creating or ordinarily running a Drip. KOLOWISE does not currently pay interest or yield on customer funds. Fees may be changed where permitted by applicable law and subject to appropriate disclosure.
A failed transaction is not treated as successfully completed merely because an instruction was submitted. Where technically safe and appropriate, KOLOWISE may retry eligible transactions using controls designed to prevent duplicate processing.
If a transaction is reversed or money is debited but the transaction does not complete, KOLOWISE will reconcile the transaction and restore or return affected funds where applicable. The timing of a refund or reversal may depend on the relevant payment provider, bank, transaction type and circumstances. Users may be notified of material failures, reversals or refunds.
KOLOWISE may temporarily restrict, suspend or freeze your account, Wallet access, Drip access, Flex access, deposits, withdrawals, scheduled releases, spending, or other transactions. KOLOWISE may do this without prior notice where it reasonably suspects:
KOLOWISE may also take action where required by a regulated partner, regulator, law-enforcement agency or applicable law. Where permitted, KOLOWISE may notify you and explain the next steps. KOLOWISE may withhold information where disclosure could compromise an investigation or is prohibited by law.
KOLOWISE may require additional verification where risk indicators arise. EDD may include:
Until EDD is completed, KOLOWISE may restrict certain activities.
If your account is suspended:
If your account is closed, eligible remaining funds will be settled or made available for withdrawal in accordance with KOLOWISE procedures, provider requirements, applicable KYC/AML requirements and applicable law. KOLOWISE does not treat account suspension or closure by itself as forfeiture of your funds. Funds subject to a lawful hold may remain restricted until the relevant matter is resolved.
KOLOWISE may classify an account as dormant after a period of inactivity determined under its applicable procedures. Dormancy does not by itself mean that your funds are forfeited. KOLOWISE may notify you, require re-authentication, require updated KYC, or restrict certain activity until the account is reactivated. Long-term unclaimed funds will be handled in accordance with applicable Nigerian law, regulatory requirements, and the procedures of the relevant regulated financial provider.
You must promptly notify KOLOWISE if your registered device is lost, stolen, compromised, or suspected to have been accessed by another person. KOLOWISE may restrict access, restrict withdrawals, require additional authentication, authorize a new device, or investigate suspected unauthorized activity. You should immediately report any unauthorized transaction.
If you believe a transaction occurred without your authorization, you must report it promptly through the available KOLOWISE support channel. KOLOWISE may investigate the transaction and may request information or documents necessary to establish what occurred.
You may request closure of your KOLOWISE account through the in-app account-management functionality or customer support. KOLOWISE may require outstanding transactions or compliance matters to be resolved before closure is completed.
Closing an account does not automatically delete all personal data. KOLOWISE may retain information where required for legal, regulatory, financial, fraud-prevention, dispute-resolution or other lawful purposes.
KOLOWISE may be required to provide information or make reports to regulators, the Nigerian Financial Intelligence Unit, law-enforcement agencies, courts, government authorities, or regulated financial partners. KOLOWISE may be prohibited from informing you about certain reports or disclosures.
Certain KOLOWISE services depend on third parties. These may include:
KOLOWISE may be unable to provide certain services when a third-party provider is unavailable or experiences an interruption. Third-party services may also be subject to their own terms, policies and processing procedures.
KOLOWISE aims to provide reliable service but does not guarantee uninterrupted availability. Service may be temporarily unavailable because of maintenance, system failures, provider outages, bank or payment-network interruptions, security incidents, telecommunications problems, or events outside KOLOWISE’s reasonable control. KOLOWISE will take reasonable steps to restore affected services.
You must not use KOLOWISE to:
KOLOWISE may restrict or terminate access where it reasonably believes these Terms have been breached.
KOLOWISE and its licensors own or control the intellectual property associated with the KOLOWISE application and services, including applicable software, branding, logos, designs, text, graphics, interfaces, and content. You receive a limited, personal, non-exclusive, non-transferable right to use the application for its intended purpose. You may not copy, modify, distribute, sell, sublicense, or exploit KOLOWISE intellectual property without permission.
You are responsible for your own tax obligations arising from your use of KOLOWISE or your financial activities. KOLOWISE will not generally withhold taxes on your behalf unless required by applicable law. You should obtain independent tax advice where necessary.
KOLOWISE does not currently provide investment products through Drip or Flex. KOLOWISE does not currently pay interest or yield on customer funds. Drip and Flex are designed as financial-discipline and controlled-access products rather than investment products.
To the maximum extent permitted by applicable law, KOLOWISE’s liability arising from your use of the services will be limited as provided under these Terms. KOLOWISE will not be liable for indirect, incidental, special or consequential losses to the extent such limitation is permitted by law. Nothing in these Terms excludes or limits liability that cannot legally be excluded or limited. KOLOWISE is also not responsible for losses caused solely by circumstances outside its reasonable control or by third-party providers, except to the extent applicable law provides otherwise.
To the extent permitted by applicable law, you agree to be responsible for losses, claims or reasonable costs arising from your breach of these Terms, fraudulent or unlawful use of KOLOWISE, misuse of another person’s identity or account, or unauthorized use resulting from your intentional or negligent conduct. Nothing in this section requires you to indemnify KOLOWISE for matters that cannot lawfully be transferred to you.
KOLOWISE may update these Terms where its services, products, applicable laws or regulations, providers, security requirements, or operational requirements change. Where appropriate, KOLOWISE will provide notice of material changes through the application or another appropriate communication channel. Your continued use of KOLOWISE after the effective date of an updated version may constitute acceptance where permitted by law.
These Terms are governed by the laws of the Federal Republic of Nigeria.
KOLOWISE encourages users to first contact customer support to resolve complaints or disputes. Where a dispute cannot be resolved through the applicable complaint process, the parties may pursue mediation, arbitration where agreed or required, or litigation before a court of competent jurisdiction. Nothing in these Terms prevents a consumer from exercising a right or remedy that cannot lawfully be excluded.
Subject to applicable dispute-resolution requirements and mandatory consumer rights, the courts of Lagos State, Nigeria shall have jurisdiction over disputes arising from these Terms.
For account, transaction, or service complaints, users should contact KOLOWISE through the official customer-support channel.
Customer Support: support@kolowise.com
KOLOWISE will maintain appropriate complaint-handling procedures and may require information necessary to investigate a complaint.
Your use of KOLOWISE is also governed by the KOLOWISE Privacy Policy, which explains how KOLOWISE collects, uses, stores and shares personal data. By using KOLOWISE, you acknowledge that you have had the opportunity to review the Privacy Policy.
If any provision of these Terms is found to be invalid, unlawful or unenforceable, the remaining provisions will continue to apply to the extent permitted by law.
These Terms, together with the KOLOWISE Privacy Policy and any applicable product-specific terms or disclosures presented within the application, form the agreement governing your use of KOLOWISE.
Kolowise Partners
CAC Registration Number: 9594478
FLAT 7, BLOCK DSP, SOUTHPOINTE ESTATE, ORCHID ROAD,
LEKKI, LAGOS STATE, NIGERIA
Effective Date: 14 September 2026