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Terms and Conditions

These Terms explain the general rules that apply when you access this website or use accounts, products and services provided by First Heritage Microfinance Bank Limited. Product-specific agreements and disclosures may also apply.

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Licensed byCentral Bank of Nigeriainsured byNigeria Deposit Insurance Corporation

Terms details

Rules for using our website and services

Effective date: 19 June 2025. These general Terms should be read with the documents supplied for your specific account, product, facility or service. Applicable law and mandatory consumer protections continue to apply.

01

Acceptance and related agreements

By accessing this website, opening or operating an account, applying for a product, or using a service provided by First Heritage Microfinance Bank Limited (the “Bank”, “we”, “us” or “our”), you agree to these Terms and Conditions.

These Terms are general. A product-specific application, account mandate, facility letter, repayment schedule, tariff, disclosure, card or channel terms, privacy notice, or another written agreement may also apply. If a product-specific document conflicts with these Terms, the product-specific document will govern that product or service, subject to applicable law.

If you do not agree with the applicable terms, do not use the affected website feature, product or service. Nothing on this website is personal financial, legal or tax advice, and information on the website is not an offer or guarantee of approval.

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02

Eligibility and account opening

You must have the legal capacity and authority required to open or operate an account or use a service. Where you act for a company, association, partnership, trust, minor or another person, you must provide satisfactory evidence of your authority.

Account opening and access to any product or service are subject to the Bank's current eligibility, identity-verification, risk, credit and operational requirements. We may request original or certified documents, references, beneficial-ownership information, Bank Verification Number, National Identification Number, proof of address, source-of-funds information or other records required by law.

Submitting an application does not guarantee that an account will be opened or that credit or another service will be approved. We may approve, decline, limit or defer an application where permitted by law and our policies.

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03

Accurate information and verification

You must provide complete, current and accurate information and documents. You must notify us promptly when your name, address, telephone number, email address, ownership, authorised signatories or other material information changes.

You authorise the Bank, where lawful, to verify information through relevant public records, identity systems, credit bureaux, employers, referees, guarantors, financial institutions, regulators and service providers. We may request further information or restrict a transaction while verification is incomplete.

You are responsible for losses or delays caused by information or instructions that are materially false, incomplete or out of date, except to the extent that the Bank caused or contributed to the loss or applicable law provides otherwise.

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04

Account security and instructions

You must keep account numbers, cards, cheques, passwords, personal identification numbers, one-time passwords, security answers, devices and other authentication information secure. Do not share them with another person or send them through ordinary email, a general website form or Live Chat.

Notify the Bank immediately through a published contact channel if a card, cheque, device or credential is lost, stolen or compromised, or if you identify an unauthorised or incorrect transaction. We may take reasonable steps to verify an instruction before acting on it.

Instructions received through an approved channel and authenticated using the agreed security procedure may be treated as authorised, subject to applicable law and the relevant product or channel terms. The handling of disputed or unauthorised transactions will follow applicable law, regulatory requirements and the relevant account terms.

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05

Deposits, withdrawals and transactions

Deposits, withdrawals, transfers and other transactions are subject to available funds, account restrictions, transaction limits, cut-off times, clearing rules, network availability, verification requirements and applicable law.

A transaction may be delayed, declined, reversed or placed on hold where the instruction is incomplete, funds are unavailable, verification is required, an error is suspected, a legal or regulatory obligation applies, or the transaction presents a security, fraud or operational risk.

You should review account statements, receipts and notifications promptly and report errors without unreasonable delay. Cash deposits, cheques, transfers and other instruments are credited subject to verification, clearance and any applicable reversal rights.

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06

Loans and credit

Every loan or credit facility is subject to assessment and approval under the Bank's current credit policies and applicable law. Eligibility, approved amount, purpose, security, guarantor requirements, interest, fees, repayment dates, default consequences and other conditions will be set out in the relevant offer or facility documents.

You must review and accept the facility documents before disbursement. A website description, enquiry, form download or submitted application is not a credit decision and does not guarantee approval or disbursement.

You must repay amounts due in accordance with the agreed schedule. Late or missed payments may result in charges, recovery action, enforcement of agreed security or reporting to authorised credit-reference systems, where permitted by the facility documents and applicable law.

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07

Fees, charges, interest and taxes

Applicable fees, charges, commissions, interest rates, penalties and transaction costs will be disclosed in the relevant tariff, product document, facility letter, statement or other notice. You are responsible for applicable taxes, duties and third-party charges unless the Bank has agreed otherwise in writing.

Rates and charges may change where the agreement or law permits. We will provide the notice required by the applicable agreement or law. A change will not apply retrospectively unless the law or the relevant agreement expressly permits it.

Contact the Bank for the current approved schedule before making a decision. No rate, return, minimum balance, fee or credit limit is created by these general Terms.

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08

Website and service availability

We aim to keep the website and our service channels available and secure, but continuous or error-free operation is not guaranteed. Maintenance, security events, network failures, power interruptions, third-party outages or circumstances beyond reasonable control may affect availability.

Website content may be updated, corrected, suspended or withdrawn. Before relying on information for a transaction or application, confirm material terms through an authorised Bank channel.

Links to third-party websites or services are provided for convenience. Unless expressly stated, the Bank does not control or endorse their content, availability, security or privacy practices. Your use of a third-party service is governed by that provider's terms.

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09

Privacy and communications

The Bank processes personal data in accordance with its Privacy Policy, applicable data-protection law and relevant product or service notices. The Privacy Policy explains the categories of information collected, purposes of processing, sharing, retention, security, rights and contact route for privacy requests.

You agree that the Bank may send account, transaction, security, service and regulatory communications using the postal address, telephone number, email address, device or other contact details you provide. Some messages are necessary to administer the relationship and may not be optional.

Marketing communications will be sent only where there is a lawful basis. You may use the unsubscribe method provided or contact the Bank to update marketing preferences. Keep your contact details current and review important communications promptly.

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10

Responsible use and financial-crime controls

You must use accounts, the website and services only for lawful purposes and in accordance with these Terms. You must not use them for fraud, money laundering, terrorist financing, sanctions evasion, abuse, unauthorised access, malicious software, interference with systems or infringement of another person's rights.

The Bank may monitor transactions, request information, conduct enhanced due diligence, refuse or delay instructions, place restrictions, preserve records or make reports where required or permitted by law, court order, regulatory direction or reasonable financial-crime and security controls.

You must not attempt to conceal the origin, ownership, destination or purpose of funds. You must cooperate with lawful requests for information concerning an account or transaction.

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11

Suspension and account closure

We may suspend, restrict or close an account or service where required or permitted by law or the relevant agreement, including for suspected fraud, unlawful activity, security risk, false information, breach of terms, inactivity, unpaid amounts, incomplete verification, regulatory direction or operational necessity.

Where permitted, we will provide the notice required by the applicable agreement or law. Immediate action may be taken where advance notice would create a security, fraud, legal or regulatory risk.

You may request account closure through an approved channel, subject to identity verification, settlement of outstanding obligations, return of Bank property and completion of pending transactions or legal holds. Closure does not remove rights or obligations that arose before closure.

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12

Liability and events beyond our control

The Bank will exercise the care and skill required by applicable law and the relevant agreement. We are responsible for loss directly caused by our fraud, wilful misconduct, gross negligence or another liability that cannot lawfully be excluded or limited.

To the extent permitted by law, the Bank is not responsible for indirect or consequential loss, loss caused by inaccurate customer information or instructions, failure to protect credentials, third-party systems outside our reasonable control, or events such as telecommunications failure, power failure, natural disaster, civil disturbance, labour disruption, government action or other circumstances beyond reasonable control.

Any limitation or exclusion applies only to the extent permitted by law and does not reduce mandatory consumer rights or regulatory protections.

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13

Changes and general provisions

We may update these Terms to reflect changes in law, regulation, technology, security, products, services or business operations. We will publish or communicate changes and provide any advance notice required by law or the relevant agreement. The effective date shown on this page identifies the published version.

If any provision is found invalid or unenforceable, the remaining provisions will continue to apply. A delay or failure to enforce a right is not a waiver of that right. A waiver must be given in writing by an authorised representative.

You may not transfer your rights or obligations without the Bank's written consent. The Bank may transfer or delegate rights and duties where permitted by law, with any notice required by the applicable agreement or law.

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14

Governing law, complaints and contact

These Terms are governed by the laws of the Federal Republic of Nigeria. The courts of competent jurisdiction in Nigeria have jurisdiction, subject to any complaint, mediation, arbitration or dispute-resolution process required by applicable law or agreed in a product-specific document.

If you have a question, concern or complaint, contact the Bank using the details below. Please provide enough information to identify the issue, but never send a password, PIN, one-time password or full card details.

Nothing in these Terms prevents you from using a complaint or redress route available under applicable law after giving the Bank a reasonable opportunity to address the matter.

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Before you proceed

Check the terms for your product

These are general website and banking terms. Your application, mandate, offer letter, repayment schedule, tariff, disclosure and channel terms may contain additional conditions.

Ask for the current approved terms, rates, fees and requirements before making a financial decision.

Questions and complaints

Need help understanding these Terms?

Contact First Heritage using the published general support details. For a privacy inquiry or data-subject request, use the contact route in the Privacy Policy.

General contact

First Heritage Microfinance Bank Limited

Omu-Aran Road, Oro-Ago, Ifelodun LGA,
Kwara State, Nigeria.
info@firstheritagemfb.com+234 913 934 0303+234 703 825 0664
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