Terms & Conditions

By creating an Account, accessing the Service, or joining a Circle, you agree to be bound by these Terms, our Privacy Policy, and any other policies we publish on the Service from time to time. If you do not agree, you must not use the Service.

The Company may update these Terms from time to time. Where changes are material, we will notify you by email and/or a prominent notice on the Service before they take effect. Continued use of the Service after changes take effect constitutes acceptance of the updated Terms.

Capitalized terms used in these Terms have the meanings set out below:

• Account. Your registered CoSayv account, created using your email address and verified identity details.
• Circle. A member-run savings group on CoSayv. Circles operate as either Rotational Circles (Ajo) or Target Circles.
• Rotational Circle (Ajo). A circle in which members contribute a fixed amount on a fixed schedule and take turns receiving the pooled payout, in an order agreed by the group at the start of the cycle.
• Target Circle. A circle in which members save towards a shared goal, with the pooled funds held and paid out according to the circle’s agreed rules.
• Contribution. The fixed amount a Member agrees to pay into a Circle on each scheduled payment date.
• Payout. The pooled funds paid to a Member or group of Members in accordance with the Circle’s rules.
• Cycle. One full rotation of a Circle, from the first contribution date to the final payout.
• Wallet. Your CoSayv balance, held by you, from which Contributions and app fees are paid and into which Payouts are received.
• Pre-Fund. A security deposit equal to your Contribution amount, locked when you join a Circle, used automatically if you miss a payment, and released back to you when the Cycle completes.
• Credibility Score. A score from 50 to 850 that reflects a Member’s verified identity, payment history, and completed Cycles.
• Strike. A penalty recorded against a Member after repeated missed payment deadlines, as described in Section 8.
• KYC. Know Your Customer — identity verification performed on Members in line with applicable law.
• Member. A User who has joined a Circle on the Service.
• Service. The CoSayv website, mobile application, and all related services operated by the Company.
• We, Us, Our, Company. CoSayv Limited, a company registered in England and Wales.

• You must be at least 18 years old to use the Service.
• You must be a resident of one of the countries in which the Service is available: the United States, Canada, the United Kingdom, or Nigeria.
• You must provide accurate, current, and complete information when registering, and keep it up to date.
• You must complete KYC verification to join a Circle. We may refuse, suspend, or close an Account where verification cannot be completed or where we reasonably suspect fraud or unlawful activity.

You are responsible for maintaining the confidentiality of your Account credentials and for all activity that occurs under your Account. Notify us immediately of any unauthorized use.

KYC verification is required to protect every member of a Circle. You agree to provide identity documents and other information we reasonably request for verification and to comply with anti-money-laundering and counter-terrorism-financing obligations that apply to the Service. Your verification status is reflected in your Credibility Score.

The Service charges the following fees, which are disclosed at the point of joining:

• Rotational Circles: a 1% app fee on each rotational payout. For example, on a ₦50,000 payout you receive ₦49,500.
• Target Circles: a one-time 0.5% fee charged at withdrawal.
• Split payouts: each user pays 1% on their own share only.

Fees may be changed from time to time. Changes will be notified in advance and will only apply to Circles created after the change takes effect, unless the law requires otherwise. Third-party payment and wallet providers may apply their own charges, which are not set by CoSayv.

Every Member carries a Credibility Score from 50 to 850 that reflects their behavior on the Service:

• Completing KYC verification: +100
• On-time payments: +5 each
• Payment streaks: +10
• Completed Cycles: +20
• Missed payments: −20
• Strikes: −100

Scores may also be reduced or reset in accordance with these Terms. Your Credibility Score is visible to other members of Circles you join and may affect the Circles available to you. Scores are provided for informational purposes to support trust within member groups; they are not credit scores and are not provided by any credit reference agency.

You agree not to use the Service to:

• Provide false, misleading, or fraudulent information, or misrepresent your identity during KYC or otherwise.
• Create multiple Accounts to circumvent Strikes, bans, or Circle rules.
• Use the Service for any unlawful activity, including money laundering, fraud, or terrorist financing.
• Harass, threaten, defame, or abuse other Members or staff.
• Attempt to access, tamper with, or interfere with the Service, its systems, or other users’ Accounts or data.
• Reverse engineer, copy, or resell the Service or any part of it.
• Use the Service in any way that violates applicable law in the United Kingdom or in your country of residence.

CoSayv is a platform that facilitates member-run savings circles. We do not provide banking, lending, deposit-taking, or investment services, and nothing on the Service constitutes financial, legal, tax, or investment advice. Your money is held in your own Wallet and moves only as agreed by the Circle’s rules. Decisions to join a Circle are yours, and you should satisfy yourself that the members and rules of any Circle are acceptable to you.

CoSayv Limited is in the process of registering as an agent under a licensed Electronic Money Institution authorised by the Financial Conduct Authority. The Company does not currently hold its own FCA authorisation.

The Service, including its software, design, text, graphics, and branding, is owned by or licensed to the Company and is protected by intellectual property laws. You may use the Service only for your personal, non-commercial use in accordance with these Terms. You may not use the CoSayv name, logo, or branding without our prior written consent.

The Service may rely on third-party providers for features such as identity verification (KYC), payments and wallet infrastructure, analytics, and form tools. These providers have their own terms and privacy policies, and your use of those features may be subject to them. We are not responsible for third-party services, but we only work with providers we reasonably believe to be reputable and compliant with applicable law.

To the maximum extent permitted by law, the Service is provided “as is” and “as available” without warranties of any kind, whether express or implied, including implied warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not warrant that the Service will be uninterrupted, secure, or error-free, or that defects will be corrected.

Because Circles are member-run, CoSayv does not guarantee that any member will make a Contribution or that the pooled funds in any Circle will be paid out to any particular member. The Pre-Fund, Strikes, and bans described in these Terms are the mechanisms by which the Service mitigates, but does not eliminate, these risks.

To the maximum extent permitted by law, the Company, its officers, directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or for any loss of profits, savings, data, or goodwill, arising out of or in connection with your use of the Service, even if advised of the possibility of such damages.

Nothing in these Terms limits or excludes liability that cannot be limited or excluded under applicable law, including liability for death or personal injury caused by negligence, fraud, or fraudulent misrepresentation.

We may suspend or terminate your Account or access to the Service where we reasonably believe you have breached these Terms, where required by law, or where continued provision of the Service to you would create risk to us or other Members. Where a ban is active at the end of your current Cycle, the ban takes effect as described in Section 8.3. You may close your Account at any time, subject to completing or exiting any active Circles in accordance with their rules.

We are continually improving the Service and may add, change, or remove features at any time. Material changes to the way Circles operate will be communicated in advance where reasonably practicable.

These Terms are governed by and construed in accordance with the laws of England and Wales, without regard to conflict-of-law principles. You agree that the courts of England and Wales shall have exclusive jurisdiction over any dispute arising out of or in connection with these Terms or the Service, except where the law of your country of residence provides otherwise.

If you have questions about these Terms, please contact us by email at info@cosayv.com.

CoSayv Limited · Registered in England and Wales · Company Number: 17353081 · Registered address: 124 City Road, London, EC1V 2NX.