Terms of use

Last updated 28 October 2026

These terms are an agreement between you and KollectCash (“we”, “us”) about using the KollectCash website and app. By creating an account you agree to them. Please also read our Privacy policy, which explains how we handle your information.

1. What KollectCash does

KollectCash helps people run Ajo (also called Esusu or Adashe): rotating savings groups where every member pays the same amount each round and one member collects the total, in turn, until everyone has been paid once. We also give you a wallet to pay in and get paid, and personal savings goals.

We are a technology platform. We are not a bank, and money in your wallet is not a deposit and does not earn interest. Card and bank payments are processed by our payment partner, Paystack.

2. Your account

• You must be at least 18 and able to enter a binding contract.
• Give your real name, email and phone number, and keep them up to date. One account per person.
• Before you can move money we verify your identity with your BVN or NIN, as Nigerian rules on financial services require.
• Keep your password and devices safe. You are responsible for what happens on your account. Tell us straight away at support@toolinc.com.ng if you think someone else has used it.

3. Savings groups

• Each group's creator sets the amount, how often members pay, the number of members, any late fee and the payout order. By joining a group you agree to pay every round until the group ends, including after you have collected your own payout.
• A round pays out only when every member has paid for it. The payout goes to that round's member's wallet.
• A payment still unpaid two days after its due date is marked late. If the group has a late fee, it is added to what you owe and goes into that round's payout. Late payments lower your trust score, which other members can see.
• If you turn on auto-pay, we pay your contributions from your wallet on the due date when it holds enough money.
• Members agree on payments made outside KollectCash (for example a bank transfer to the group's creator) among themselves. We record them when the creator confirms them, but we cannot see or guarantee money that does not pass through KollectCash.

4. Fees

We charge a fee of 1.5% of each payout, taken when the payout reaches the member's wallet. Topping up your wallet and withdrawing to your own bank account are free from us, though your bank may charge its own fees. We will tell you in the app before any fee changes.

When a friend signs up with your invite link and makes their first group payment, we may pay you an invite bonus into your wallet. Bonuses are a reward, not a right: we can change or end them, and we cancel any earned through fake or duplicate accounts.

5. Your wallet and withdrawals

• You can withdraw your wallet balance to a Nigerian bank account in your own name. Withdrawals usually arrive the same working day.
• We may hold or decline a withdrawal while we check it, for example when the account name does not match yours or we suspect fraud.
• If money reaches your wallet by mistake, we may reverse it.

6. Things you must not do

• Use KollectCash for fraud, money laundering or anything illegal.
• Join or run groups you do not intend to pay into, or collect a payout and then stop paying.
• Pretend to be someone else or use another person's BVN or NIN.
• Harass other members in group chats.
• Try to break, copy or overload the app.

If you do, we may suspend or close your account. Where the law allows, we may also share information with the police or regulators and help other members recover money they are owed.

7. Problems between members

If a member does not pay, first talk to them in the group chat. If that does not work, report it from the group page or the Help page and we will look into it. We will help where we can, including sharing the payment record, but members owe each other their contributions; we do not pay a member's debts for them.

8. Closing your account

You can ask us to close your account at support@toolinc.com.ng once you have no money in your wallet and are not in a group that is still running. We keep some records after that, as our Privacy policy explains.

9. Our responsibility

We work hard to keep KollectCash running and your money safe, but we cannot promise the service will never be interrupted. As far as the law allows, we are not responsible for losses caused by other members not paying, by banks or payment providers, or by events outside our control. Nothing in these terms limits rights you have under Nigerian consumer protection law.

10. Changes and the law that applies

We may update these terms. If a change matters, we will tell you in the app before it takes effect. These terms are governed by the laws of the Federal Republic of Nigeria.

11. Contact us

Questions about these terms: support@toolinc.com.ng, or use the Help page in the app.