Terms & Conditions
Effective Date: September 2026 • Ultra Pay Microfinance Bank Limited
1. Agreement to Terms
By opening an account, downloading the UltraPay Mobile Application, using Internet Banking (ibank.ultrapay.ng), or operating an UltraPOS terminal, you agree to be bound by these Terms and Conditions and all applicable Central Bank of Nigeria (CBN) regulations.
2. Account Opening & KYC Compliance
Customers must provide authentic verification documents (BVN, NIN, Valid Government Photo ID, Utility Bill) according to Tier 1, 2, or 3 requirements. UltraPay reserves the right to suspend or restrict accounts providing fraudulent or mismatched identity records.
3. UltraPOS Terminal Operations
UltraPOS agents agree to charge customers in accordance with approved fair pricing standards. Terminal devices remain the property of Ultra Pay Microfinance Bank and must be surrendered upon termination of agency agreement.
4. Transaction Security & PIN Confidentiality
You are solely responsible for maintaining the confidentiality of your PIN, password, and OTP codes. UltraPay staff will NEVER ask for your password, PIN, or OTP under any circumstance.
5. Governing Law
These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria, and any disputes shall be subject to Nigerian court jurisdiction.