These Terms of Use (“Terms”) govern your access to and use of the Capsend platform, including the Capsend mobile application, website, and any related services (collectively, the “Platform”). Capsend Finance Services Limited (“Capsend”, “we”, “us”, or “our”) operates the Platform.
Please read them alongside the Privacy Notice.
By accessing or using the Platform, you agree to be bound by these Terms. If you do not agree, you must not use the Platform.
These Terms are written in English. All communication between you and us will be in English.
You should keep a copy of these Terms. You can download them at any time from the Capsend Platform.
Capsend is a trading name of Capsend Finance Services Limited, a company registered in Nigeria with company registration number 8270783, with its office at AUJ Complex, Block A, First Floor, Plot 564/565 Independence Avenue, Central Business District, Abuja (“Capsend”, “we”, “us”, “our”).
Capsend is not itself a bank but a fintech solution designed to disrupt the remittance and international money transfer by offering transparent, fast and cost-effective cross-border transactions.
Capsend Finance Services Limited, trading as Capsend, operates the Capsend platform.
Capsend is a licensed International Money Transfer Operator (IMTO), authorised and regulated by the Central Bank of Nigeria. Capsend provides real mid-market exchange rates, low transaction fees and seamless transfers.
Our primary product is our remittance service, which allows customers to send money to recipients in Nigeria with ease. We provide cutting-edge technology to facilitate secure and rapid transactions.
In these Terms:
Available Balance means the electronic money held in your Capsend App/Platform that you can send, excluding any pending transactions.
Payment Transaction means any payment into or out of the Capsend Account.
Security Details means your passcode, biometrics, one-time passcodes and any other credential used to access the Capsend App or authorise a transaction.
Working Day means Monday to Friday, excluding public holidays in Nigeria.
The Capsend Platform is designed for:
To use the Capsend Platform you must:
We may decline an application without giving reasons, except where we are required by law to provide them.
You apply through the Capsend Platform. You must give complete and accurate information and tell us promptly if any of it changes.
We are required by law to verify your identity before you use the App, and to keep that verification up to date. We may:
If we cannot verify your identity, or you do not provide information we reasonably request, we may refuse your use of the app.
We use automated processing to verify your identity, screen for financial crime, and detect fraud on your transactions. This may include declining a transaction automatically.
Where an automated decision has a significant effect on you, you have the right to ask for a person at Capsend to review it, to express your point of view, and to contest it. Message us in the app or email services@capsendimto.org.
The Privacy Notice explains how our automated processing works and what information it uses.
The Capsend Platform facilitates international money transfer services. Funds held in your Available Balance are safeguarded in a separate account at a regulated credit institution and are not used for lending or investment purposes. Electronic money is not a deposit and does not earn interest.
Your Available Balance is not covered by any deposit insurance scheme. However, Capsend is required to safeguard your funds in accordance with applicable regulations.
You can see your Available Balance and your transaction history in the Capsend Platform at any time. We may also make a monthly statement available to you.
You can ask us to redeem all or part of your Available Balance at any time. We will return it to a bank account in your name. We may charge a redemption fee only as set out in the Fees and Charges Schedule.
You can add money to your Capsend App by bank transfer, by debit card, or by any other method we make available on the Platform.
We may set minimum and maximum limits on how much you can add, and how often. Current limits are shown in the app.
We may refuse to accept money, or return it to source, where we reasonably suspect financial crime, where we cannot establish the source of the funds, or where accepting it would breach a limit or a legal obligation.
You can only send what is in your Available Balance. Capsend does not provide credit and we do not lend you money under these Terms.
You authorise a transaction by entering your passcode, authenticating with biometrics, entering a one time passcode, or by any other method we tell you about.
Once you have authorised a transaction you cannot withdraw your consent, except for recurring or future dated payments, which you may cancel up to the end of the Working Day before the payment is due.
When a transaction is authorised, the amount is held against your Available Balance immediately, even though the money may not leave your account until the transfer is completed.
We may refuse a transaction if:
Where we refuse a transaction we will tell you in the app, and give the reason, unless it would be unlawful to do so.
Where we make our money transfer service available to you, you may send money through the Platform to a recipient in Nigeria.
Before you confirm a transfer we will show you:
The exchange rate we quote is held for the period shown in the app. If you do not confirm within that period, we will requote.
You are responsible for giving us the correct recipient details. If you give us the wrong unique identifier, such as an account number, we are not liable for the payment going to the wrong recipient, but we will make reasonable efforts to recover the money and may charge you a reasonable fee for doing so.
We may delay or refuse a transfer where we need to carry out further checks, where the transfer would breach a limit or a legal obligation, or where the receiving institution or the Nigerian authorities impose restrictions. Exchange control, documentation and clearing requirements in Nigeria are outside our control.
Our fees are set out in the Fees and Charges Schedule, which forms part of these Terms.
We will tell you before we charge any fee that is not in the Fees and Charges Schedule.
You must:
We will never ask you for your full passcode, a one time passcode, or to move money to a “safe account”.
We may freeze your funds and contact you if we suspect fraud. We may contact you by push notification, in app message, SMS, email or telephone.
Unauthorised transactions. If you tell us about a transaction you did not authorise, we will refund it and restore your account to the state it would have been in, by the end of the next Working Day, unless we reasonably suspect you have acted fraudulently, in which case we will investigate first and tell you if we can.
You may be liable for losses from an unauthorised transaction arising from misappropriation of your Security Details, to the extent permitted by applicable law. You will not be liable for such losses where the loss was not detectable by you, or was caused by our acts or omissions.
You will be liable for all losses from unauthorised transactions if you have acted fraudulently, or if you have with intent or gross negligence failed to keep your Security Details safe.
You must tell us about an unauthorised or incorrectly executed transaction without undue delay and in any event within 13 months of the date it was debited.
Authorised push payment fraud. If you transfer money to someone because you have been deceived, tell us immediately. Your rights to reimbursement depend on the payment system used and on the reimbursement rules applying to that payment. We will tell you what applies to your case.
We may suspend, block or limit your Capsend app where:
We will tell you before we act, or immediately afterwards if we could not tell you first, and give our reasons, unless the law prevents us.
We will lift the restriction as soon as the reason for it has ended.
You can close your Capsend App at any time, by telling us in the app. There is no charge for closing your account.
We can close your app immediately where you have acted fraudulently, where we are required to by law, where you have seriously breached these Terms, or where we can no longer provide the app for a reason outside our control.
We can change these Terms. Reasons include changes in law or regulation, changes to the CBN Rules, changes to our costs, improvements to our services, and correcting errors.
We will give you notice of any change, in the app and by email.
We can make a change immediately, without notice, where it is entirely to your benefit, where it is a change to an exchange rate based on the reference rate, or where we are required to do so by law.
We are responsible for direct loss you suffer as a foreseeable result of our breach of these Terms or our failure to exercise reasonable care and skill in providing the Platform.
We are not responsible for:
We collect and use your personal information as described in our Privacy Notice, which explains what we collect, why, who we share it with, how long we keep it, and your rights under the Nigeria Data Protection Act 2023.
Tell us if something has gone wrong. You can complain through the app, or by email to services@capsendimto.org.
We will acknowledge your complaint promptly and aim to resolve it within 3 Working Days. If we cannot, we will send you a final response within eight weeks.
We will normally communicate with you through the Capsend Platform and by email, so you must keep your contact details and your app up to date and check for messages regularly.
You can ask for a copy of these Terms at any time during the relationship.
Transfer. We may transfer our rights and obligations under these Terms to another company, provided your rights are not adversely affected. You may not transfer yours.
Third parties. Except as stated in these Terms, no one other than you and us has any right to enforce them.
Severability. If any part of these Terms is found to be unenforceable, the rest continues to apply.
Delay. If we do not enforce a right immediately, we can still enforce it later.
Governing law. These Terms are governed by the law of Nigeria, and you and we submit to the exclusive jurisdiction of the courts of Nigeria.
© 2026 Capsend Finance Services Limited
