Terms & Conditions

All balances on KoboMine are calculated dynamically. The application does not store static wallet balances. Your balance is calculated in real-time as the sum of all completed credit transactions minus all completed debit transactions.

The Stash represents your main, unallocated wallet. Deposits loaded from your bank account are credited directly to your Stash. Funds in the Stash can be transferred instantly to any savings bucket.

Upon registration, every user is automatically assigned a single Emergency Bucket. This is the only unlocked purse in your account.

• Internal transfers from your Emergency Bucket to your Stash are instant, free, and carry no delays.
• Funds in the Emergency Bucket can be used to cover subscription fees automatically if your Stash is empty.

Any bucket created by a user (or auto-created during onboarding) is strictly Locked by default. This status cannot be changed.

• Time-Locked: Locked until a specified maturity date is reached (e.g., Rent, Food, Transport buckets).
• Target-Locked: Locked until the bucket's dynamic balance meets or exceeds a target savings amount (e.g., Savings, Goals buckets).
• Sleep Feature: Matured buckets can be toggled into Sleep Mode to prevent accidental spending. Active sleeping buckets cannot be deleted or disbursed until woken up.

If you request to access funds in a locked bucket before its lock conditions are satisfied, you must trigger the Panic Override. This action is subject to the following strict conditions:

• Penalty Fee: A flat penalty of 2.5% of the total bucket balance will be charged upon release.
• Cooling-off Period: Funds will be held for exactly 14 calendar days (10 business working days) before being disbursed to your Stash.
• Discouragement Campaign: During the 14-day hold, KoboMine will send periodic educational messages urging you to cancel the request and preserve your financial discipline.
• Cancellation: You may cancel the panic request at any time during the 14-day period to keep your savings intact and avoid the 2.5% penalty.

KoboMine charges a monthly subscription fee based on your plan (Early Adopter: ₦500; Standard: ₦1,000).

• All-or-Nothing Billing: Renewals are charged in full. If your Stash and Emergency Bucket combined do not have enough to cover the price, no partial debit is made. Instead, the subscription status is marked as past_due and an `'unpaid'` invoice is generated.
• Debt Accrual: Unpaid monthly invoices accumulate as debt.
• Auto-Collection Triggers: Unpaid invoices are immediately paid off (oldest first) in full when:
  • Any locked bucket matures and becomes available.
  • The Stash receives a new deposit or credit transaction of sufficient value.

To protect against impulsive spending and ensure security, all payouts to external bank accounts are subject to the following rules:

• 24-Hour Cool-off Delay: All withdrawals from your Stash or Emergency Bucket to a bank account are held in a pending queue for 24 hours before execution. You can cancel a pending withdrawal in the queue to return the funds to your account immediately.
• Transaction Fees: Every withdrawal attracts a 0.5% KoboMine fee (capped at ₦3,000) and a 1.5% payment gateway processing fee (capped at ₦2,500).