Amebo Wallet Policy

Effective date: October 22, 2025

Important: Amebo Wallet is a digital stored-value service for use within the Amebo Social platform. It is not a bank account and wallet balances are not insured by any government agency. By using Amebo Wallet, you agree to this Wallet Policy, our Terms of Service, and Privacy Policy.

1. Overview & Eligibility

Amebo Wallet allows eligible users to deposit funds in Nigerian Naira (NGN), hold a wallet balance, convert to in-app Value Coins, gift coins, and request withdrawals to bank accounts. You must be at least 18 years old, maintain a valid Amebo account via Clerk authentication, and comply with this policy and applicable laws.

2. Key Definitions

Wallet Balance: Your naira balance displayed in the Amebo Wallet.
Value Coins (🪙): In-app credits. Current conversion: ₦10 = 1 coin.
Deposit: Funding your wallet via Paystack.
Withdrawal: Transferring wallet funds to your bank account.

3. Deposits

Processor: Deposits are processed by Paystack. Amebo Social does not store card details.
Verification: Deposits are verified automatically; your wallet balance updates upon confirmation.
Fees shown up front: Before you pay, we show an estimate of all fees and total amount to be charged.
Finality: All verified deposits are final and non-refundable. Chargebacks may result in wallet suspension and balance reversal.

Deposit Fees (paid by the user in addition to the deposit amount):

Paystack fee: 1.5% + ₦100 (capped at ₦2000).
Amebo handling fee: 5% of deposit (minimum ₦100).

Example: Deposit ₦1,000 → Paystack ≈ ₦115, Amebo ≈ ₦100 (min). Total charged ≈ ₦1,215. Wallet receives ₦1,000.

4. Value Coins

Conversion rate (subject to change): ₦10 = 1 coin.
Coins are for in-app use (e.g., gifting). They are not fiat currency and have no cash value outside Amebo Social.
Gifting coins updates both parties’ wallet/coin balances and is generally irreversible once completed.

5. Withdrawals

Processing: Withdrawals are reviewed and processed manually for security. Typical timeline: 24–48 hours. Times may extend during reviews, weekends, or holidays.
Verification: We may require identity/KYC checks, especially for large or unusual requests.
Rejection/Delay: We may delay, reverse, or reject a withdrawal to investigate suspected fraud or policy violations.

Withdrawal Fees (deducted from the withdrawal amount):

Amebo handling fee: 10% of the withdrawal amount (minimums may apply).
Paystack payout fee: ₦10 per bank transfer.

Example: Withdraw ₦5,000 → Amebo fee ₦500 + Paystack ₦10 = ₦510. Amount sent to bank ≈ ₦4,490.

6. Limits, KYC & Compliance

Limits: We may set or adjust deposit/withdrawal limits (daily/weekly/monthly) at our discretion.
KYC: Withdrawals above a threshold (e.g., ₦50,000) may require government-issued ID and additional verification.
Laws: Users must not use Amebo Wallet for illegal activities, money laundering, fraud, or violating sanctions.

7. Disputes, Reversals & Chargebacks

Disputes: Contact support@amebosocial.com within 7 days of the transaction.
Chargebacks: If a deposit is reversed, we may debit your wallet, freeze funds, and/or suspend the account pending review.
Errors: If we credit or debit your wallet in error, we may correct the balance and notify you.

8. Account Security

Keep your Amebo login secure. You are responsible for activity under your account.
Notify us immediately if you suspect unauthorized access or transactions.

9. Data & Privacy

Payments: Processed by Paystack; Amebo Social does not store sensitive card data.
Auth & Storage: We use Clerk for authentication and Supabase for data storage.
Personal data is handled according to our Privacy Policy.

10. Fees & Rate Changes

We may update fees, conversion rates (₦ to coins), limits, and timelines at any time. Material changes will be posted on this page and may also appear in-app or via email. Your continued use after changes constitutes acceptance.

11. Service Availability

We may suspend or limit wallet features for maintenance, security, or compliance reasons. We are not liable for delays or failures caused by third-party providers, network issues, or events beyond our control.

12. Prohibited Uses

Illegal goods/services, fraud, scams, money laundering, or violating Paystack or banking rules.
Abuse of promotions, referral programs, or attempts to manipulate fee structures.

13. Limitation of Liability

To the maximum extent permitted by law, Amebo Social is not liable for indirect, incidental, special, or consequential damages, or for losses arising from delays, holds, reversals, chargebacks, fraud investigations, or third-party service outages.

14. Governing Law

This policy is governed by the laws of the Federal Republic of Nigeria. Disputes will be handled according to the dispute provisions in our Terms of Service.

15. Contact

Questions? Reach us at support@amebosocial.com.