WENDI DIGITAL LENDING TERMS AND CONDITIONS

The Terms and Conditions set out below (this “Agreement”) shall apply to any subscriber of the Wendi digital lending services. By using this service, you confirm that you have read and understood these Terms and Conditions, the Loan Schedule/Agreement and the Privacy Policy, as they apply from time to time, and that these Terms and Conditions and Privacy Policy are binding on you and your successors or personal representatives. If you do not agree with these terms and conditions, do not use the service. Pearl Bank Uganda Limited (PBU) reserves the right to modify or update this Agreement from time to time as it deems fit, and such modifications or updates shall automatically be binding on you upon publication at www.pearlbank.co.ug or any PBU digital channel.

1. DEFINITIONS

Customer or “you” or “your” refers to the person to whom the Wendi account belongs and includes all his or her personal or legal representatives and assigns.

Due Date means the date communicated by the Bank by which the loan repayment falls due. In case the loan is not fully repaid on the due date, we shall be entitled to define a new due date.

Interest means the price of the loan calculated periodically, starting from the moment of loan disbursement, and charged to the customer at the moment of loan repayment.

Loan Amount means the volume of cash that is lent to the Customer and disbursed to his or her Wendi account.

Loan Schedule means the notice with the details of your loan such as the amount and repayment terms, service and other permitted fees and charges, and will be provided to you if you are elected to receive a loan.

Wendi Account means the Wendi mobile wallet or account.

Wendi Account Usage Data means the transactional data as produced from the Customer’s interaction with the Wendi wallet or account.

MTN means the network operator named MTN Uganda.

Airtel means the network operator named Airtel Uganda.

Network means the mobile network operated by either MTN or Airtel.

Overdue Interest means the amount charged to the Customer in case of failure to meet the due date of repayment.

Personal Data shall have the meaning assigned under applicable data protection laws in Uganda.

Privacy Policy shall mean the Bank’s privacy policy available at https://www.pearlbank.co.ug/privacy-policy/.

Repayment Period means the time within which the Customer agrees to repay the loan.

Service(s) means the provision of micro credit loan services to Customers via a platform owned and managed by the Service Provider.

Service Provider means the partner working with Pearl Bank to deliver a lending solution through its proprietary analytics and delivery platform to enable the provision of the Services.

The Bank or “us”, “we” or “our” refers to Pearl Bank (U) Limited, the holder of the license and the primary lender on record, which may change from time to time.

2. GENERAL

2.1 These Terms and Conditions may change from time to time, as may be determined by Pearl Bank. We shall endeavor to offer you some notice prior to the changes. Your continued use of the Wendi digital lending services after the lapse of the said notice, if any, will constitute your agreement to be bound by the terms of any such amendment or variation.

2.2 We enter into loan agreements online, that is, through electronic channels such as the Wendi App.

2.3 Subject to our internal credit policies, we may decide to grant you credit or not within our discretion.

2.4 This Agreement may not be assigned by you to any other person.

2.5 If you want to lodge any complaint regarding the Service, you may contact us by telephone, app or email, as follows:

• Wendi App:
• WhatsApp: 0707993930
• Email: customerservice@pearlbank.com
• Social Media:
• Call: 0800217200 (Toll Free) or 0417157711

2.6 When agreeing to these Terms and Conditions, you consent to be contacted via SMS or WhatsApp for marketing purposes.

2.7 If any provision of these Terms and Conditions is found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable, the invalidity or unenforceability of such provision shall not affect the other provisions herein.

3. ACCESS AND USE OF INFORMATION

3.1 Access to Information

By making the electronic application on the Wendi menu, you accept and authorize Pearl Bank to access your personal information or documents used in the application. The personal information or documents may include but not be limited to your phone number, name, date of birth, National Identity Number or Passport Number.

3.2 Credit Reference Bureau

For purposes of the Bank performing its statutory assessment of its customers’ creditworthiness by cross-checking their credit status with the Credit Reference Bureau, you hereby consent and agree that:

1. The Bank may access your personal data from the National Identification Register and other sources and disclose to any person or authorized institution, including the Credit Reference Bureau, all details including your bank account details. The Bank may receive, share or exchange with the Bureau any relevant financial information or data about you supplied to it by any financial institution or obtained from the National Information Register.
2. The Bank may issue any reports, whether positive or negative, regarding your economic, financial and commercial obligations and confidential information contained therein to the Bureau.
3. The Bank may collect your personal information including fingerprints, photographs, name and contact details and any other identifying information, which you undertake to avail whenever required, and thereafter forward the same to any Bureau.
4. By agreeing to these Terms and Conditions, you confirm that you have been duly advised and are fully aware of your right to lodge a complaint regarding, or challenge any information disclosed to or by, the Bureau.

3.3 Disclosure of Personal Data

You consent to:

1. Providing your personal data as submitted herein to Pearl Bank Uganda Ltd for purposes of accessing financial services.
2. Pearl Bank disclosing personal information, data or documents about you or other related Know Your Customer (KYC) information provided by yourself or as accessed from the National Information Register for its use as a financial services provider.
3. The Bank, in exercise of its responsibilities and in fulfillment of its mandate as a financial services provider and regulated financial institution, in compliance with relevant laws, regulations and guidelines as issued by the Regulator or other competent authority, collecting, controlling, processing, sharing, exchanging and/or storing your personal data with its relevant business stakeholders.
4. Pearl Bank, without prior notice to you, disclosing your personal data and information:
   1. to local and international law enforcement agencies or any competent regulatory or governmental agencies or authorities for purposes of preventing, detecting or prosecuting criminal activities or fraud;
   2. to comply with its legal, regulatory or government obligations;
   3. to its legal representatives, auditors or to any court in connection with any legal or audit proceedings regardless of whether such proceedings are public; and
   4. to any third parties subject to a valid court order.

3.4 Notice

You are hereby notified that:

1. Provision of your personal data as prescribed in this form to the Bank is a mandatory legal and regulatory requirement under the Financial Institutions Act, Cap 57 (as amended), the Anti-Money Laundering Act, Cap 118 (as amended), the Anti-Money Laundering Regulations, and the Registration of Persons Act Cap 332.
2. Failure to provide all the data required in this form shall be ground enough to restrict you from accessing the desired financial services from the Bank.
3. Authorized Bank officials, agents, partners and/or vendors shall have access to and process your personal data for purposes of delivering financial services to you and meeting other institutional regulatory and legal obligations.
4. You have a right of access to, and the right to request rectification and deletion of, data collected before and after the collection.
5. Your data shall be retained by the Bank for as long as this relationship is maintained. Upon termination of this relationship, the Bank shall retain your personal data for a minimum period of ten years.

3.5 Rights Attendant to Disclosure of Personal Data

1. You are at liberty to decline the access, use and disclosure of your personal data by the Bank, its affiliates or relevant stakeholders subject to the Bank’s right to decline to enter into a contract with you upon your refusal to provide such consent.
2. In case of any inaccuracies in the information provided to the Bank, you have a right to approach the Bank for rectification, which upon proof of the inaccuracies will proceed to rectify your information.
3. In the event that any adverse action is to be taken against you in respect of a credit information check, you shall be notified of the results of such a credit information check before the action is taken.
4. You are at liberty to seek and obtain independent legal advice before agreeing to the Bank accessing, using and disclosing your personal data in Clauses 3.2, 3.3 and 3.4 above and to take legal action against any person who violates your rights to privacy.

4. LOAN AGREEMENT

Should you apply for a loan using the Service that we then elect to grant to you, you will be required to electronically accept a Loan Agreement. The Loan Amount will be paid to your Wendi account via the Wendi Application.

5. REPAYMENT

5.1 You must pay the total amount due in terms of the loan agreement, which includes the principal debt, all fees, interest and applicable taxes, using your Wendi digital account.

5.2 If payment is not made in accordance with Clause 5.1 above, the amount due will be automatically debited from your Pearl Bank account.

5.3 Personal account.

5.4 If your loan agreement is in arrears and payment is not made in accordance with Clauses 5.1 and 5.2 above, we reserve the right to auto-debit your personal Pearl Bank account on any day to recover the arrears amount from any available balance in your personal Pearl Bank account held with us.

5.5 Any payments received from you will be allocated in the following order of payment:

1. Any fees payable on the digital loan facility
2. Principal debt
3. Interest
4. Fees and other charges

5.6 You may choose to pay the loan amount (principal debt, interest and other fees) on or before the Due Date by using the “Repay Loan” option within the “Loans” menu.

6. OVERDUE INTEREST

6.1 In the event that the loan is not repaid in full within the repayment period during the application process and upon loan approval, interest and service fee will be applied as communicated during the application process. Applicable fees and interest shall be communicated to the Customer additionally via SMS.

6.2 In the event that the loan is not repaid in full on the Due Date, we shall be entitled to define a new Due Date.

7. DEFAULT AND COLLECTION

In case the loan is not fully repaid after ninety (90) calendar days from the due date:

1. You will be notified by SMS that the loan is in a state of default.
2. You will be reported as a defaulter to the credit bureaus as required by law.

8. PRIVACY AND SECURITY

8.1 For all intents and purposes, by subscribing to the Service and in the course of each transaction carried out under the Service, the Customer unequivocally gives consent to the Bank and the Service Provider to collect, process (including profiling), share with third parties for regulatory reasons and with each other his or her personal data at any time for the purpose of providing, improving or upgrading the Service or the platform upon which the Service is hosted and/or analyzing or assessing the credit viability (credit scoring) or otherwise of his or her subscription.

8.2 We undertake to make use of your personal information and data received from Pearl Bank for the purposes of, and in accordance with, the consent you have provided to Pearl Bank in accordance with these Terms and Conditions and with our Privacy Policy, which, for the avoidance of doubt, forms part of these Terms and Conditions.

8.3 Once you have taken out a loan and are our customer, we may use your contact details for direct marketing purposes, subject to your right to opt out.

9. RIGHT TO SHARE CREDIT INFORMATION

9.1 We may receive and/or share your personal information with relevant third parties in appropriate circumstances to deliver the Service. The personal information that we may receive and/or share includes but shall not be limited to your KYC (Know Your Customer) information, telecom mobile wallet account usage data and your credit score.

9.2 You further consent to have your credit information shared with one or more credit bureaus to enable the Bank to make informed lending decisions.

10. TERMINATION, SUSPENSION AND LIMITATION

Where we choose to suspend or discontinue the Service, or to change the functionality of or services offered on the App, whether temporarily or permanently, we will try our best, wherever possible, to provide you with some notice before we do so. Notwithstanding this undertaking, you acknowledge and accept that we are entitled to modify, suspend or discontinue the Service at any time and that we will not be responsible for any damage or loss that you may suffer if we choose to do so. We may also choose to restrict access to certain or all the functionality or services offered by us.

11. WARRANTIES OR REPRESENTATIONS

To the fullest extent permitted by applicable law, the Service is provided on an “as is” and “as available” basis. We do not warrant or represent that the Service will be error-free, or that the content provided on or via the Service is or will be accurate, suitable, complete or fit for or compatible with any particular purpose.

12. DISCLAIMER AND LIMITATION OF LIABILITY

12.1 Except for any statutory liability that we may have towards you and which cannot be disclaimed or altered by agreement between you and us, neither we, nor our affiliates, employees, officers, providers or agents, will be responsible or liable in any way for any damage or loss of whatsoever nature arising from the Service, your use of or reliance on the Service, or on any information provided on or via the Service. You acknowledge and understand that use of this Service is entirely at your own risk.

12.2 In the event of damage to, loss, or theft of the SIM, you are obliged to inform us immediately after reporting to police and the telecommunication company of such damage, loss, or theft. We will then disable or disconnect such damaged, lost or stolen SIM card from your Wendi account so as to prevent further use of the Service until the same has been replaced. You will be responsible for all charges and transactions effected up to the time of receipt by us of your notification of the damage, loss, or theft. Notification of any such damage, loss, or theft may be given by telephoning the Pearl Bank Customer Care Centre. You will be required to indemnify us against any claims made in respect of any transactions effected with your mobile phone prior to such notification being received.

12.3 We are not responsible for any loss arising from any failure, malfunction, or delay in any mobile phone networks, mobile phones, the Internet or terminals, or any of its supporting or shared networks, resulting from circumstances beyond our reasonable control.

13. CAPACITY TO ENTER INTO AGREEMENTS

13.1 By using the Service, you warrant to us that you have the required legal and contractual capacity to enter into and be bound by contractual terms.

13.2 You must be at least 18 years old to make use of the Service.

13.3 If you are unsure whether you have the legal capacity to enter contracts, you must contact us, and we shall be able to provide you with this information before you continue using the Service.

14. BREACH / FAILURE TO COMPLY WITH THESE TERMS AND CONDITIONS

14.1 If you breach these Terms and Conditions, or if you use the Service in an unauthorized manner or interact with the Service in any unlawful or unauthorized manner, we will be entitled to terminate your access to the Service immediately without prior notice to you, and without prejudice to any other rights we may have in these Terms and Conditions or at law.

14.2 Should your access to the Service be terminated as described above, you expressly acknowledge that any loan obligations that exist between you and us at the time of such termination, as set out in a loan agreement, will continue to remain in place until such loan obligations have been met.

15. GOVERNING LAW

15.1 These Terms and Conditions are governed by and will be interpreted in accordance with the laws of the Republic of Uganda without reference to any conflict of law provisions. All interactions and transactions made or conducted on this Service, including on or in relation to any loan provided, will be subject to the laws of the Republic of Uganda.

15.2 Nothing will prevent or prohibit either us or you from applying to an appropriate court for urgent relief. In addition, you acknowledge and understand that these provisions do not restrict, nor do they attempt to restrict, any right that you may have to submit a complaint to any other body in terms of applicable law, which cannot be altered by agreement between you and us.

15.3 Any arbitration held with regard to these Terms and Conditions will be conducted behind closed doors and we and you will be required to treat all details of the dispute submitted to arbitration, the conduct of the proceedings and the outcome of the arbitration as confidential.

16. INTELLECTUAL PROPERTY RIGHTS

16.1 You acknowledge that the intellectual property rights in the system, and any amendments, upgrades or enhancements thereto from time to time, and all associated documentation that the Bank provides to you through the system or otherwise, are vested either in the Bank or in other persons or service providers from whom the Bank has a right or permission to use. You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the system and associated documentation without the prior written consent of the Bank or service provider.

WENDI DIGITAL LENDING T&Cs