Legal Agreement

Terms of Service

Please read these terms carefully. They outline your legal rights, responsibilities, and guidelines when using MoniCard virtual cards, wallets, and financial services.

Effective: September 2026

Commercial Terms v3.1

CEMAC & OHADA Aligned

Schedule of Charges

Review full transparent transaction limits, conversion rates, and fees on our dedicated Fees & Limits page.

1. Acceptance & Eligibility

The legally binding contract created when you register or interact with MoniCard.

By accessing our platform, downloading the MoniCard mobile application, or utilizing any of our payment tools, you confirm that you have read, understood, and agreed to be bound by this User Agreement.

Legal Age & Capacity

Prerequisite

You must be at least 18 years of age or possess the legal capacity in your jurisdiction to enter into binding financial contracts. Using MoniCard on behalf of a minor without express parental/guardian custody is prohibited.

Permitted Jurisdictions

Jurisdiction

MoniCard services are offered primarily within Cameroon and the CEMAC economic region, with global interoperability. You must not register if you reside in a jurisdiction sanctioned by FATF, OFAC, or the United Nations.

One Person, One Master Account

Account Rules

Each user may only register and operate one personal MoniCard master wallet. Creation of duplicate accounts using varied phone numbers or credentials constitutes a material breach and triggers automatic account forfeiture.

2. Identity Verification & KYC

Our compliance protocols and tier-based limits for identity authentication.

To combat fraud, terror financing, and financial crimes, MoniCard operates a tiered Know Your Customer (KYC) onboarding framework in alignment with regional banking guidelines.

Account Tier	Required Credentials	Spend / Load Limits	Features Unlocked
Tier 0 (Unverified)	Verified Phone Number	20,000 XAF / Day	Basic wallet, airtime purchase only
Tier 1 (Standard)	CNI or Passport + Selfie	1,000,000 XAF / Day	1 Virtual Card, MoMo Top-ups, FX conversions
Tier 2 (Premier)	Proof of Address + Tax ID / TIN	5,000,000 XAF / Day	Multiple Virtual Cards, international wires, high limits

MoniCard reserves the statutory right to request supplemental documentation or proof of source of funds at any transaction threshold.

3. Wallet Funding & Balances

Deposits via Mobile Money, bank transfer, vouchers, and fund custody.

Your MoniCard wallet holds digital representations of fiat currencies. MoniCard is not a fractional reserve bank; your balances are stored 1:1 in segregated accounts at licensed commercial partner banks.

Mobile Money (MTN MoMo & Orange Money)

0% Deposit Fee

Wallet deposits through MTN Mobile Money or Orange Money are credited instantly upon carrier authorization. Users must ensure their phone numbers and carrier accounts are in good standing.

Bank & Card Transfers

1.5% Processing

Deposits via debit/credit cards or CEMAC GIMAC bank rails are subject to clearing times and standard verification against chargeback disputes.

Irreversibility of Peer Transfers

Strict Policy

Once funds are sent to another MoniCard user tag or phone number, the transfer is executed immediately and cannot be recalled or canceled by MoniCard unless ordered by law.

No Interest Accrual

Regulatory Note

Funds held within your MoniCard wallet or on virtual cards do not constitute savings deposits and do not accrue interest or investment returns.

4. Virtual Cards & Global Spending

Rules governing card creation, merchant purchases, FX markup, and chargebacks.

MoniCard virtual debit cards are co-branded with international card payment schemes (Visa and Mastercard) allowing you to transact on digital storefronts worldwide.

Issuance Fee & Card Loading

Card Policy

Virtual cards require a one-time issuance fee (2,000 XAF) and carry zero recurring monthly maintenance fees. Top-ups from your wallet balance are subject to a transparent 1% FX conversion markup displayed in-app before confirmation.

Online Merchants & 3D Secure (3DS)

Security

You can use your virtual card for SaaS subscriptions, digital advertising, travel, e-commerce, and app stores. Purchases require dynamic 3DS one-time password (OTP) verification sent to your linked phone or in-app authenticator.

Prohibition on ATM & Physical POS

Limitation

Virtual cards do not have magnetic stripes or EMV chips and cannot be used at physical ATMs or point-of-sale terminals requiring chip insertion.

Merchant Disputes & Pre-authorizations

Disputes

Merchant temporary holds (hotels, ride-sharing, subscriptions) remain pending until released by the merchant scheme (typically 7 to 14 days). MoniCard does not charge dispute initiation fees.

5. Digital Services, Airtime & Bookings

Terms governing airtime purchases, gift cards, airline flights, and hotel bookings.

MoniCard provides integrated third-party digital lifestyle and concierge services.

Airtime & Internet Bundles

Instant Fulfillment

Airtime purchased for MTN Cameroon and Orange Cameroun is delivered electronically within seconds. Please ensure destination numbers are typed accurately; airtime sent to incorrect numbers cannot be refunded.

Digital Gift Cards

3% Purchase Fee

Gift card vouchers (Apple, Google Play, Steam, Amazon) are generated through authorized distributors. Once the code is revealed in-app, it cannot be refunded unless proven defective prior to redemption.

Flight Bookings

Airline Partner Rules

Flight fares include a 5% MoniCard booking coordination fee. Rescheduling, baggage allowances, cancellations, and refunds are governed strictly by the operating airline tariff conditions.

Hotel Reservations

Property Policies

Hotel bookings confirmed through MoniCard are subject to property check-in requirements. Cancellation terms vary by room tariff and are clearly displayed before payment confirmation.

6. Prohibited Activities & Account Security

Strict operational boundaries, AML prohibitions, and security compliance.

MoniCard enforces a zero-tolerance policy towards illegal commerce and system abuse. Any violation will result in immediate suspension, report to regulatory authorities, and civil legal action.

Strictly Prohibited Uses

Money laundering, terrorist financing, narcotics trade, or weapons proliferation
Unauthorized gambling, unregulated sports betting, or pyramid/Ponzi schemes
Card cracking, buying stolen CVVs, or brute-forcing merchant payment gates
Chargeback fraud, friendly fraud, or false dispute claims against legitimate merchants
Sharing your MoniCard login credentials, 2FA tokens, or PINs with unauthorized parties
Operating an unlicensed commercial money transfer or remittance enterprise on personal tiers

7. Account Freezes, Suspension & Termination

Circumstances leading to account restriction, fund freezes, or closure.

You or MoniCard may terminate this agreement at any time in accordance with the following terms:

Voluntary Closure by Customer

Zero Penalty

You can request to close your MoniCard account at any time at zero charge, provided all pending card settlements are cleared and wallet balances are withdrawn to your Mobile Money account.

Suspension for Suspicious Activity

Automated Guard

If our fraud prevention algorithms or bank partners detect unusual velocity, rapid high-value deposits followed by immediate liquidation, or stolen identity credentials, we reserve the right to temporarily freeze account operations.

Regulatory & Judicial Freezes

Statutory Compliance

MoniCard must immediately comply with official freezing injunctions issued by the National Agency for Financial Investigation (ANIF), courts of competent jurisdiction, or COBAC.

8. Disclaimers & Governing Law

Limitations of liability, force majeure, and dispute resolution venues.

To the maximum extent permitted by applicable law:

Limitation of Liability

MoniCard is not liable for indirect, punitive, or consequential losses, including lost profits, loss of data, or operational interruptions resulting from third-party telecoms network downtime (MTN, Orange), banking system maintenance, or merchant POS rejections.

Force Majeure

Neither party shall be held liable for performance failures resulting from acts of God, civil strife, nationwide telecom blackouts, armed conflicts, or sweeping statutory changes.

Governing Law & Commercial Jurisdiction

These Terms are governed by and construed in accordance with the laws of the Republic of Cameroon and the uniform acts of OHADA (Organization for the Harmonization of Business Law in Africa). Any dispute unresolved via informal mediation within 30 days shall be submitted to the competent commercial courts of Douala, Cameroon.

Need legal clarification on our Terms?

Our legal compliance team is happy to clarify any clauses regarding consumer rights, business accounts, or partner integration rules.

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