Access to the use of the Mkobo Digital Bank
- Banking regulations require us to verify your identity before we can open an account for you. You will need to provide the list of the minimum requirements below in compliance with CBN’s Tier 1 account opening KYC requirements. The provision of additional information such as valid ID and utility bills enables us to open an account without restrictions.:
- Bank Verification Number (BVN)
- Your name
- Telephone number
- Email address
- Place & date of birth
- Gender, etc.
- You confirm that you have provided us with the accurate and complete information required to create your account and that you have supplied all documentation, photographs , and information that allow us to comply with our regulatory obligations.
- Providing false information of any kind may result in the freezing or termination of your account. Additionally, you are completely responsible for all activities that occur under the account and any other actions taken in connection with it.
- In line with regulations, we perform due diligence on all accounts so it is your responsibility to keep your contact information up-to-date in your profile. You must ensure to update all account information when a change occurs.
- You can access your Mkobobank app on multiple devices; however, we will only send any SMS messages (including notifications) to your registered mobile number.
Keeping your account safe
- To keep your account secure you will need to set up security passcodes, passwords, PINs (security information), etc. As long as our systems have checked your identity by verifying your security information, we will assume that we are dealing with you and that you have agreed to us disclosing information to you and acting on any instruction without getting further confirmation from you.
- The biometric authentication on your Mkobobank app is performed by the biometric authentication module of your device, and we do not control the functionality of any mode of biometric authentication including fingerprint, touch ID or face ID.
- We make no representation or warranty as to the security of the biometric authentication function on your mobile device and we do not have access to your fingerprint(s) or facial recognition information. For more information on how the biometric functionality works for your mobile device, please refer to your device manufacturer’s support resources.
- You understand and agree that any fingerprint stored on your mobile device can be used to access your account with Mkobobank, therefore you shall take all reasonable measures to keep your mobile device and the password used to register your fingerprint(s), facial map, or other biometric data on your mobile device in your safe custody.
- Except where you are logging in or signing in to Mkobobank, we will never ask you to tell us your security information (e.g., by calling you or emailing you) so please don’t share them with anyone, even if they say they’re from us.
- You shall be fully responsible for and bear the risk of any accidental or unauthorized disclosure of your device and password to any other person or any unauthorized use of your mobile device and password by any other person.
- You must call us as soon as you can if the device that you use with the (or which syncs to your device) to has been lost, stolen, or fraudulently accessed.
- You must also immediately notify us of any unauthorized uses of your account or any other breaches of security.
- We will not be liable for deductions or operations which occur as a result of a third-party accessing your account.
Communication and notifications
- You consent to receive communications and notifications from us via SMS, phone call, email, push notifications, in-app notifications, and social media. You may opt out of receiving non-transactional communications, by following the directions in our e-mail to “Unsubscribe” from our mailing list.
- These notifications are meant for your consumption only and we will not be held liable if you suffer any loss or damage as a result of unauthorised access to the information sent.
- You also consent to receive mandatory SMS alerts directed by the Central Bank of Nigeria through push notifications and in-app notifications.
- You agree to defend, indemnify and hold harmless Mkobobank from and against all losses, liabilities, damages, claims and expenses, including attorney's fees, arising out of, relating to or resulting (directly or indirectly) by reason of such notifications.
Removing your access to Mkobobank
- We may stop you using close, suspend, freeze or limit access to your account, on occasions including but not limited to the following:
- Your account or the Digital Bank App is at risk;
- We suspect there’s unauthorised or fraudulent use; or
- There’s a risk that you won’t be able to repay any credit you’ve been given.
- The information we obtain from you does not comply with regulatory requirements;
- You do not meet, or are in breach of, the terms and conditions contained herein;
- You create risk or possible legal exposure to us;
- We are required to do so by law; or
- There is a report of, or our investigations reveal that you have engaged in, fraudulent or suspicious activity with your Mkobobank account.
- Mkobo is required to comply with local and international policies, and regulations against money laundering, terrorism funding, and conducting of businesses with entities/individuals situated in territories subject to trade sanctions and/or individually subject to such sanctions.
- Mkobo has to also comply with all extant laws in Nigeria, including the rules, regulations, guidelines, circulars, and letters issued by the CBN and other regulatory bodies from time to time.
- The implication of the preceding paragraph is that Mkobo is required to take steps to ensure that its customers’ accounts comply with the foregoing at all times and thus an account could be frozen, limited, or terminated for infractions of any of these mandates.
Closing your Mkobo Digital Bank Account
- You can close your account at any time and at no cost. If you’d like to do this, please see our FAQs.
- You will, however, remain liable for any obligations related to your account with us. Once the account is closed, you will not be able to access any Mkobobank services.
Governing law and jurisdiction
Acceptance of these termsYou acknowledge that you have read this Agreement and agree to all its terms and conditions. By using the Mkobo Digital Bank or its Services you agree to be bound by this Agreement. You also agree that the information supplied is true and correct. By opening an account with us, you consent to our carrying out regular identity and fraud prevention checks.© 2022 Mkobo Microfinance Bank (RC1234231). All rights reserved. All deposits are insured by the Nigerian Deposit Insurance Corporation (NDIC). Mkobo Microfinance Bank is licensed by the Central Bank of Nigeria. “Mkobo” and “Mkobobank” are trademarks of Mkobo Microfinance Bank Limited: 13 Hughes Avenue, Alagomeji, Yaba, Lagos. All text, graphics, audio files, code, downloadable material, and other works on this website are the copyrighted works of Mkobo Microfinance Bank. All Rights Reserved. Any unauthorized redistribution or reproduction of any copyrighted materials on this website is strictly prohibited. Other product and company names are trademarks of their respective owners. This website contains simulated images; actual appearance may vary.