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T & C For G-SUSU

Terms And Conditions For G-Money’s G-Susu

  1. INTRODUCTION

Welcome to G- Susu provided by G-Money Financial Services Limited (GMFS). This product is designed to encourage financial discipline and promote a culture of savings by allowing users to save funds through structured contributions.

By accessing and using G- Susu, you agree to comply with and be bound by the following Terms and Conditions.

Please read them carefully.

  1. APPLICABILITY
    • These Terms and Conditions govern your use of G- Susu (“the Service”).
    • These Terms and Conditions take effect when you register for the Service. GMFS may change these Terms and Conditions from time to time. The latest version of the Terms and Conditions applies each time you use the Service.
    • You must read these terms carefully before using the Service. By registering to use the Service or by virtue of your continued usage of the Service, you shall be deemed to have accepted and be bound by these terms as well as other terms governing the Service as amended from time to time. If you reject these terms and conditions, you cannot use the functionalities of our Service.
  1. DEFINITIONS
    In these Terms and Conditions, the following expressions shall have the following meanings:

“Early Withdrawal”

means the ability to withdraw funds before the savings term ends.

 

“Funding Term”

means the agreed duration set by the client for their standing order or automated sweep function to last (e.g., 3, 6, 9, or 12 months).

“Standing Order”

means an automated periodic transfer from a G-Money main wallet to the G-Susu Wallet.

“G-Susu Wallet”

means a sub-wallet created for the customer to hold their savings per their chosen term and funding method.

“User” or “Customer”

means a G-Money user who subscribes for a G-Susu wallet.

 

  1. REGISTRATION AND ACCESS
  • The G-Susu Wallet is available to all registered G-Money
  • Users can enroll via USSD (*488#).
  • A dedicated G-Susu Wallet will be created upon registration.
  • Users have the option to select their preferred funding term (3, 6, 9, or 12 months).

  1. SAVINGS MECHANISMS
  • Users can contribute to their G-Susu Wallet using the following options:
    • Manual Transfers – Users can manually move money from their main G-Money Wallet to their G-Susu Wallet.
    • Standing Orders – Users can set up recurring transfers at scheduled intervals (daily, weekly, or monthly) from their main G-money wallet to their G-Susu Wallet.
    • Automated sweeps – A percentage or fixed amount of every outbound transaction (e.g., bill payments, transfers) from their main wallet is automatically deducted and credited to the G-Susu wallet.

  1. TRANSACTION LIMITS & COMPLIANCE
  • The following transaction limits apply:
    • Minimum Initial Contribution: Ten Ghana Cedis (GHS10).
    • Maximum Contribution: Subject to regulatory transaction and balance limits per tier of customer.
    • Withdrawal Policy: Users are permitted to make withdrawals at anytime however only to their main wallet.
  • Regulatory Compliance: GMFS will ensure all G-Susu transactions comply with applicable financial regulations.

  1. BENEFITS
    • Discipline and Behavioral change: The automation of savings options will instill in customers that savings culture especially because it happens without the need for a manual funding process of the G-Susu Wallet
    • Financial Education: Users receive financial literacy tips via SMS and through other available channels.

  1. FEES & CHARGES
    • No service charges There are no fees associated with maintaining the G-Susu Wallet.
    • No Withdrawal Fees: Withdrawals from the G-Susu Wallet are free of charge.
    • Transaction Charges: Transfers from the main wallet to the G-Susu Wallet are not subject to any transaction fees.

  1. ACCOUNT MANAGEMENT & SECURITY
    • Users can monitor their savings progress through USSD.
    • A two-step authentication process is required to authorize withdrawals.

  1. SETTLEMENT PROCESS
    • At the end of the Funding term, the automated sweeps or the standing orders are stopped and funds remain on the G-Susu wallet available to the client.
    • Users may opt to set up another funding ter

  1. CONSUMER RECOURSE MANAGEMENT POLICY
    • Customers can report complaints through / via the following channels:
      • G-Money Customer Support via toll-free number 0800422422.
      • Email: support@gmfs.africa
      • In-person visits to authorized G-Money service centers

  1. TERMINATION OF SERVICE
    • Users have the option to stop the Funding term at any time through USSD.
    • If a user opts out prior to completing their funding term, no penalty will be imposed.
    • GMFS reserves the right to terminate accounts that are found to be in violation of compliance policies or involved in fraudulent activities
    • Clients may close their wallets at anytime in accordance with wallet closure guidelines as stipulated by the regulator.

  1. GENERAL TERMS
    • By subscribing to the G-Susu Plan, users acknowledge and agree to these terms and conditions.
    • GMFS reserves the right to update these terms and will provide prior notification to customers.
    • In the event of regulatory changes, GMFS will ensure full compliance and make the necessary updates to the product.

  1. PRIVACY & DATA PROTECTION
    • GMFS will comply with Data Protection Act, 2012 (Act 843) and all applicable laws and regulations relating to the processing of personal data or privacy or any amendments and re-enactments thereof and shall procure that its employees observe the provisions of the same.
    • Customer data will only be used for service delivery, compliance, and fraud prevention.
    • GMFS will not share customer data with third parties without the User’s explicit consent

  1. GOVERNING LAW
    • These terms and conditions shall be governed by the laws of the Republic of Ghana.
    • Any dispute arising out of or in connection with this Agreement shall be resolved by Arbitration under Ghana Arbitration Centre Rules, which rules are deemed incorporated under this clause. The parties will appoint a single arbitrator. The language of the arbitration shall be English. The place of arbitration shall be Accra, Ghana. The parties also agree that the award of the arbitrators shall be final and binding on the parties and shall be carried out without delay.

  1. CONTACT INFORMATION
    For any questions or concerns regarding these terms and conditions, please contact us at:

GMFS Group Support
Email: support@gmfs.africa
Phone: 0800422422