Terms and Conditions

I hereby apply for the opening of account with Cash Rite Mfb. I understand that the information given herein and the documents supplied are the basis for the opening of such account and I therefore warrant that such information is correct. I have carefully considered the terms and conditions contained in the account opening form, further affirm as follows:

  • To indemnify the Bank against ay loss, damages, expense, or claim that may be occasioned on the account(s) or by reason of opening the said account(s) or by reason of the falsehood or inaccuracy of any statement information or misrepresentation made to the Bank except those losses, damages, expenses or claims directly resulting from the acts, default or gross negligence of the Bank.
  • To indemnify the Bank against any loss, damage, fraud or claims that occur from the use of any telephone number, fax number or email address supplied in this form or subsequently by me/us whether for the purpose of issuing instructions, receiving/sending account information or indeed any transactions related to this account.
  • To affirm and undertake that all documents used I opening the account(s) are genuine and I/We will indemnify the Bank if at any time, it is shown otherwise and I/We will be further liable for any wrong doing that may be occasioned thereby. This indemnify to you shall be continuing and shall not be withdrawn by me/us, so long as we maintain the account with the Bank.
  • That the Bank is at liberty to report any dud/returned cheques for three (3) consecutive mes to Central Bank of Nigeria (CBN) and forward same to Economic and Financial Crimes Commission (EFCC)
  • That the Bank is at liberty to report any transaction(s) N5,000,000.00 and or N10,000,000.00 for individual and corporate respectively whether the transaction(s) is/are suspicious or NOT to EFCC and Nigerian Financial Intelligence Unit.
  • The customer undertakes to comply with all the applicable laws, rules, regulations, licensing arrangement regarding the use of internet and to further comply any directives of instructions which may be issued by the Government, regulatory Authorities and or the Bank with regards to the customer’s access to the services.
  • We declare that all the information given for the purpose of opening the account(s) is true and accurate and certify that the particulars are correct and agree that they and the information given herein form the basis of banking relationship with CASH RITE MICROFINANCE BANK LTD