Terms of Service

1. Acceptance of Terms

Welcome to FLIP ("Useflip", "Flip", "we", "us", or "our"). These Terms of Service ("Terms") form a legally binding agreement between you and Useflip and govern your access to and use of useflip.io, the web application at app.useflip.io, our APIs, digital wallets, and associated stablecoin-to-fiat conversion and settlement services (collectively, the "Service").

By accessing our website, creating an Account, or conducting any on-ramp, off-ramp, swap, or transfer Transaction, you confirm that you have read, understood, and agreed to be legally bound by these Terms and our Privacy Policy.

IF YOU DO NOT AGREE TO THESE TERMS, PLEASE DO NOT ACCESS OR USE THE SERVICE.

2. Definitions

3. User Eligibility, Identity Verification (KYC) & AML/CFT Compliance

By registering for a Useflip Account, you represent and warrant that you are at least 18 years of age, have full legal capacity to enter into binding contracts, and will only register and transact under your own legal name and bank account.

Useflip reserves the right to restrict, suspend, or terminate your Account if you provide false identity details or refuse to supply required compliance documentation.

4. Statutory Record Retention

Useflip is required by applicable financial crime and AML/CFT laws to retain identity verification (KYC) records, transaction logs, and settlement audit trails for a legally prescribed retention period, even after your Account has been closed, restricted, or terminated. By using the Service, you acknowledge and consent to this mandatory statutory retention.

5. Account Security, Encrypted PIN & Two-Factor OTP Safeguards

Security is foundational to the FLIP architecture. All financial actions require multi-layered authentication:

• No Plaintext PINs: Your 4-digit transaction PIN is pre-hashed on your client device using Web Crypto SHA-256 before network transmission, and stored on our servers strictly using salted bcrypt hashes. Useflip never has access to your raw PIN.
• OTP Safeguards: Changing or resetting your 4-digit PIN or password requires two-factor email verification with a time-limited 6-digit one-time passcode (OTP).
• Credential Confidentiality: Useflip staff will never ask for your password, 4-digit PIN, or 6-digit OTP code. You are solely responsible for maintaining the security of your Account credentials and devices, and we are not liable for losses resulting from your failure to secure your Account.

6. Digital Currency Conversion, Fees & Bank Payouts

FLIP facilitates the purchase, deposit, swap, and conversion of supported stablecoins (USDT and USDC) across supported blockchains (including BNB Smart Chain, Polygon, Ethereum, Base, Arbitrum, Optimism, Avalanche, Celo, Gnosis, Tron, and Solana) into local fiat currency deposited directly into your designated bank account.

• Transparent Fee Disclosure: Applicable platform fees, network fees, and live exchange rates are disclosed on-screen before you authorize a Transaction.
• Accuracy of Bank Information: You are solely responsible for verifying the accuracy of all recipient bank details (bank name, 10-digit NUBAN account number, and verified account name) before confirming a Transaction. Useflip is not liable for funds disbursed to incorrect accounts provided by the User.
• Blockchain Immutability: On-chain cryptocurrency transfers cannot be canceled, altered, or reversed once broadcasted to the blockchain network.

8. Interbank NIP Reversals, Settlement Delays & Erroneous Credits

• Interbank NIP Rejections & Reversals: Outbound fiat settlements depend on third-party banking rails (NIBSS Instant Payment / NIP) and the availability of your receiving bank or mobile money operator (e.g., OPay, PalmPay, Moniepoint, or commercial banks). If a receiving bank rejects, fails to credit, or reverses an outbound payout due to banking network congestion, maintenance, or compliance checks, Useflip will re-credit your wallet or re-initiate payout only after our Settlement Partner confirms that the reversed funds have been returned and settled back to the partner treasury (typically within 24 to 72 hours).
• Right to Delay, Suspend, or Reverse: Useflip and its Settlement Partners reserve the right to delay, suspend, reject, or reverse any Transaction to comply with Applicable Laws, regulatory obligations, liquidity availability, or internal fraud and risk controls.
• Erroneous Credits & Clawback: If fiat or digital assets are credited to your Useflip Account or bank account in error (including duplicate payouts caused by network retries), you must notify Useflip immediately at [email protected]. Useflip reserves the right to deduct, offset, or recover any erroneously credited amounts from your Account balance.

9. Auto Off-Ramp Feature

Users with a verified default bank account may optionally enable Auto Off-Ramp:

• When enabled, inbound USDT/USDC deposits on supported EVM chains are automatically converted at the prevailing live market rate and disbursed to your saved default bank account.
• Solana Network Exclusion: For settlement safety, Solana network deposits are excluded from Auto Off-Ramp and are credited directly to your Useflip wallet balance for manual withdrawal.
• Auto Off-Ramp is turned OFF by default and may be toggled on or off at any time in Settings.

10. Service Availability & Protocol Networks

While we make every reasonable effort to keep the Platform available 24/7, we do not guarantee uninterrupted, error-free access to the Platform, APIs, or third-party banking rails. Useflip does not own or control underlying blockchain protocols or interbank clearing networks and shall not be liable for delays, downtime, or losses resulting from protocol forks, network congestion, validator delays, or force majeure events outside our reasonable control.

11. Acceptable Use, Prohibited Activities & Sanctions

You agree not to use the Service to:

• Engage in money laundering, terrorist financing, proliferation financing, tax evasion, or fraud.
• Conduct transactions involving sanctioned individuals, entities, or jurisdictions (including UN, OFAC, EU, or Nigerian sanctions lists).
• Process third-party funds or act as an unlicensed money transmitter or payment aggregator on behalf of third parties without Useflip's prior written approval.
• Misuse, exploit, scrape, reverse-engineer, or attempt to gain unauthorized access to any part of the Platform or its databases.

12. Account Restriction, Suspension & Termination

Useflip may restrict, freeze, suspend, or terminate your Account immediately if:

• We reasonably suspect fraudulent, unauthorized, or unlawful activity on your Account.
• Your Account is linked to money laundering, terrorism financing, chargebacks, or financial crime.
• You breach any provision of these Terms.
• We are directed to do so by a regulatory authority, court order, law enforcement agency, or the Nigerian Financial Intelligence Unit (NFIU).

Where legally permissible, we will notify you of any account restriction or termination.

13. Taxes

You are solely responsible for determining, reporting, and remitting any personal, corporate, capital gains, or value-added taxes applicable to your use of the Service and the Transactions you conduct through Useflip under the laws of your jurisdiction.

14. Risk Disclosure, Disclaimers & Limitation of Liability

• No Financial Advice: Useflip is a technology and payment settlement platform, not a bank, depository institution, or investment advisor. Nothing on the Platform constitutes financial, investment, legal, or tax advice.
• Market & Counterparty Risk: Digital assets carry market, protocol, and issuer risks. If a payment counterparty, banking rail, liquidity provider, or Settlement Partner experiences downtime or fails to fulfill its obligations, settlement timelines may be impacted.
• "AS IS" Disclaimer: The Service is provided on an "AS IS" and "AS AVAILABLE" basis without warranties of any kind, whether express or implied.

To the maximum extent permitted by Applicable Law, Useflip, its operators, directors, employees, and affiliates shall not be liable for any indirect, consequential, incidental, special, or punitive damages, including loss of profit, revenue, data, or digital assets arising from your use of or inability to use the Service.

Aggregate Liability Cap: To the fullest extent permitted by law, Useflip's total aggregate liability to you for any and all claims arising out of or relating to these Terms or the Service shall not exceed the total transaction fees earned by Useflip from your Account in the six (6) months immediately preceding the event giving rise to the claim.

15. Governing Law & Dispute Resolution

Both parties agree to notify each other in writing of any dispute within 30 days of the event arising and to engage in good-faith negotiations to reach an amicable resolution for at least 30 days before initiating any formal legal action.

These Terms and any dispute or claim arising out of or in connection with them shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, and both parties submit to the exclusive jurisdiction of the courts of the Federal Republic of Nigeria.

16. Amendments, Severability & General Provisions

• Amendments: Useflip may update or revise these Terms at any time. Material changes will be reflected by updating the "Last Updated" date above. Continued use of the Service after any update constitutes your acceptance of the revised Terms.
• Third-Party Links: The Platform may reference third-party block explorers or websites. Useflip has no control over and assumes no responsibility for third-party content or practices.
• Severability: If any provision of these Terms is held invalid or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.
• Assignment: You may not assign or transfer your rights or obligations under these Terms without Useflip's prior written consent. Useflip may assign its rights and obligations at any time.
• Entire Agreement: These Terms and our Privacy Policy constitute the entire agreement between you and Useflip regarding the Service, and all communications shall be conducted in English.

17. Contact & Support

For support inquiries, settlement assistance, or legal communications regarding these Terms, contact our team: