Legal

Terms of Service

Last updated: May 2026

Welcome to ThriftVault. These Terms of Service ("Terms") govern your use of the ThriftVault mobile application and website (collectively, the "Service"), operated by ThriftVault ("we", "our", or "us").

By creating an account or using ThriftVault, you agree to be bound by these Terms. If you do not agree, please do not use the Service.

1. Eligibility

To use ThriftVault you must:

• Be at least 18 years old
• Be a real person (not a bot or automated account)
• Provide accurate and truthful information when registering
• Have a valid phone number capable of receiving SMS

By using the Service, you confirm that you meet these requirements.

2. Your Account

Registration

You must register with your real name and a valid phone number. You are responsible for keeping your PIN secure and for all activity that occurs under your account.

Account security

Do not share your PIN with anyone. If you suspect unauthorised access to your account, contact us immediately at hello@thriftvault.app.

One account per person

Each person may maintain only one ThriftVault account. Creating multiple accounts to circumvent restrictions or abuse promo codes is prohibited.

3. Savings Groups

How groups work

ThriftVault provides tools to organise and track rotating savings groups (susu, ajo, or similar arrangements). Members agree amongst themselves on contribution amounts, payment schedules, and payout rotation.

Platform role

ThriftVault provides tools to organise, track, and manage rotating savings groups. We do not:

• Hold, collect, transfer, or guarantee any member funds
• Process payments between members
• Mediate financial disputes between members
• Guarantee that any member will fulfil their contribution obligations
• Provide financial advice

Group administrators

Group admins are responsible for managing their group, inviting appropriate members, and handling internal disputes. ThriftVault system admins may intervene only in cases of platform abuse or policy violations.

Member obligations

By joining a group, you commit to:

• Making contributions on time as agreed with your group
• Notifying your group admin in advance if you are unable to contribute
• Acting honestly and in good faith with other members

4. Platform Fees

ThriftVault charges a platform fee to group coordinators for each savings cycle. Fees are calculated based on group size and currency. Members do not pay platform fees - only the group coordinator.

Current fee structure is available in the app before group creation. Fees are non-refundable once a group is activated, except in cases of platform error.

Promo codes may be issued at our discretion to provide discounts. Promo codes are non-transferable and may only be used once per user.

5. Payments

Platform fee payments are collected via third-party payment gateways:

• Paystack for Nigerian Naira (NGN) platform fees
• Stripe for all other currency platform fees

By making a payment, you agree to the terms of the relevant payment gateway. ThriftVault is not responsible for payment gateway outages or failures. ThriftVault does not process, hold, or transfer member savings contributions - these are managed independently by group members.

6. Reputation Scores

ThriftVault maintains a reputation score system based on your payment history. Scores are calculated automatically and may affect your ability to join certain groups. Scores are visible to group administrators when reviewing membership requests.

We reserve the right to flag users as defaulters based on verified missed payments or forfeiture events. Defaulter flags may be reviewed by contacting support.

7. Prohibited Conduct

You must not use ThriftVault to:

• Commit fraud or deceive other users
• Create fake accounts or impersonate others
• Circumvent platform fees through dishonest means
• Use the platform for money laundering or any illegal financial activity
• Harass, threaten, or abuse other users
• Attempt to hack, reverse-engineer, or disrupt the platform
• Abuse promo codes or referral systems

Violations may result in immediate account suspension or permanent ban.

8. Termination

By you

You may delete your account at any time through the app settings. Deleting your account does not remove you from active savings groups - you must exit or be removed from groups before deletion.

By us

We reserve the right to suspend or terminate your account if you violate these Terms, engage in fraudulent activity, or pose a risk to other users or the platform.

9. Limitation of Liability

ThriftVault is provided "as is" without warranties of any kind. To the fullest extent permitted by law, we are not liable for:

• Any loss of funds resulting from member defaults or fraud within savings groups
• Any indirect, incidental, or consequential damages arising from use of the platform
• Service interruptions, data loss, or technical failures

Our total liability to you for any claim arising from use of the Service shall not exceed the platform fees you paid in the 12 months prior to the claim.

10. Governing Law

These Terms are governed by the laws of England and Wales. Any disputes shall be subject to the exclusive jurisdiction of the courts of England and Wales, unless otherwise required by applicable local law.

11. Changes to These Terms

We may update these Terms from time to time. We will notify you of material changes via the app or email. Continued use of ThriftVault after changes are posted constitutes acceptance of the updated Terms.