Terms of Service

1. Introduction and Acceptance of These Terms

Welcome to Umba Microfinance Bank Limited ("Umba", "the Bank", "we", "us" or "our").

These Terms of Service ("Terms") govern your access to and use of Umba's banking, financial and related services, including accounts, deposits, loans, digital banking channels, mobile applications, websites, payment services and customer support services (collectively, the "Services").

By opening an account, applying for or using any Service, accessing our website or application, or otherwise interacting with the Bank in relation to the Services, you agree to be bound by these Terms, together with any applicable product-specific terms, tariff guides, application forms, loan agreements, privacy notices and other terms communicated to you by Umba.

If you do not agree to these Terms, you should not use the Services.

Where there is a conflict between these Terms and specific product terms, the specific product terms shall apply to the extent of the conflict.

These Terms are subject to applicable laws and regulations of the Republic of Kenya and any directions, guidelines or requirements issued by the Central Bank of Kenya ("CBK") or any other competent regulatory authority.

2. Definitions

In these Terms:

"Account" means any account opened or maintained by you with Umba.

"Applicable Law" means all applicable laws, regulations, rules, directions, guidelines, regulatory requirements and lawful orders applicable to Umba or the Services in Kenya.

"Authorised Person" means a person authorised to operate an Account on behalf of a customer or entity.

"Bank", "Umba", "we", "us" or "our" means Umba Microfinance Bank Limited.

"Customer", "you" or "your" means a person or entity that applies for, accesses or uses any Service provided by Umba.

"Content" means information, text, software, photographs, graphics, audio, video, documents, communications and other materials made available through the Services.

"Credit Facility" means any loan, overdraft, credit line or other form of financing made available by Umba.

"Services" means all banking, financial, digital, payment, lending, deposit, account and related services provided by Umba.

"Tariff Guide" means Umba's applicable schedule of fees, charges, commissions, interest rates and other applicable costs.

3. Eligibility

To use the Services, you must:

be at least eighteen (18) years of age, unless a particular product is lawfully available to persons below that age;
have legal capacity to enter into a binding agreement;
satisfy Umba's applicable eligibility and KYC requirements;
provide accurate, complete and current information;
not be prohibited by Applicable Law from accessing or using the Services; and
comply with these Terms and any applicable product-specific terms.

Umba may decline an application where an applicant does not meet applicable eligibility, KYC, AML/CFT/PF, credit, affordability, regulatory, risk or other requirements.

4. Account Opening and Customer Information

To open and maintain an Account, you agree to:

provide accurate, complete and current information;
provide identification and supporting documents reasonably required by Umba;
promptly notify Umba of any change to your name, address, telephone number, email address, identification details, employment or other material information;
provide information required to establish or verify your identity, source of funds, source of wealth, beneficial ownership, purpose of transactions or other information required by Applicable Law;
comply with Umba's KYC and customer due diligence requirements; and
ensure that information provided by you remains accurate throughout your relationship with Umba.

Umba may request additional information or documentation at any time where reasonably required for regulatory, legal, risk management, security, AML/CFT/PF, fraud prevention or other legitimate purposes.

5. Account Operation and Electronic Instructions

Instructions submitted through Umba's approved channels may include instructions submitted through the mobile application, website, SMS, email or other electronic channels approved by Umba.

Where an instruction has been authenticated using an applicable PIN, password, OTP, biometric authentication, device authentication or other security credentials, Umba may treat the instruction as having been authorised by you, subject to Applicable Law and Umba's procedures.

You are responsible for:

keeping your PINs, passwords, OTPs and other authentication credentials confidential;
keeping your mobile device, SIM card and other access devices secure;
not sharing authentication credentials with any other person;
immediately notifying Umba if you suspect that your Account, device, SIM card or security credentials have been compromised; and
reviewing transaction notifications and statements and promptly reporting unauthorised transactions.

Umba will not ordinarily request your PIN, password or OTP through unauthorised communication channels.

6. Deposits and Account Services

Customers may deposit, withdraw and transfer funds through channels approved by Umba and subject to applicable limits, procedures and requirements.

Umba may apply transaction limits, withdrawal limits, account limits or other reasonable controls for operational, security, regulatory, AML/CFT/PF, fraud prevention or risk management purposes.

Where applicable, interest on deposits shall be calculated and credited in accordance with the applicable account or product terms and Umba's approved interest-rate schedule.

Account balances and transaction records maintained by Umba shall, subject to Applicable Law, constitute evidence of transactions undertaken through the Account.

Umba may correct errors, duplicate entries, erroneous credits or other processing errors and may recover amounts credited to an Account in error, subject to Applicable Law.

7. New, Inactive and Dormant Accounts

Where an Account is opened and no transaction occurs within thirty (30) days of account opening, Umba shall close the Account, without notice.

An Account may subsequently be classified as inactive or dormant where it meets the applicable criteria under Umba's procedures or Applicable Law.

Inactive and dormant Accounts shall be administered in accordance with Applicable Law and Umba's applicable procedures.

Any funds remaining in a closed, inactive or dormant Account shall be dealt with in accordance with Applicable Law, including applicable requirements relating to unclaimed financial assets.

8. Account Closure

You may request closure of your Account subject to Umba's applicable procedures and Applicable Law.

Umba may close or restrict an Account where permitted or required by Applicable Law, including where:

you breach these Terms or applicable product terms;
information provided by you is false, misleading or materially incomplete;
you fail to satisfy applicable KYC or AML/CFT/PF requirements;
the Account is being used for unlawful, fraudulent or suspicious activities;
closure is required by a competent regulatory, governmental or judicial authority;
the Account presents material legal, regulatory, security or financial crime risk;
the Account remains inactive or dormant in accordance with applicable requirements; or
continuation of the Account is otherwise prohibited or impracticable under Applicable Law.

Where legally permitted, Umba will provide reasonable notice before closing an Account. However, Umba may immediately restrict or suspend an Account or transaction where required for legal, regulatory, fraud prevention, AML/CFT/PF or security reasons.

Any remaining funds shall be dealt with in accordance with Applicable Law and Umba's applicable procedures.

Applicable account closure fees, where any, shall be disclosed in the Tariff Guide and applied in accordance with Applicable Law.

9. Loan and Credit Services

If you apply for or receive a Credit Facility from Umba, the applicable loan agreement, offer letter and/or product-specific terms shall form part of the agreement between you and Umba.

The applicable credit terms may include:

principal amount;
interest rate and method of calculation;
fees and charges;
repayment schedule;
applicable security or collateral;
insurance requirements, where applicable;
applicable transaction or credit limits;
late payment or default consequences;
early repayment provisions; and
other conditions applicable to the Credit Facility.

Submission of a loan application does not constitute an offer or guarantee of credit.

Umba may approve, decline, vary or reduce an application based on applicable eligibility, credit assessment, affordability, KYC, AML/CFT/PF, risk and regulatory requirements.

10. Responsible Lending and Credit Assessment

Umba may assess your creditworthiness, affordability, repayment capacity and other relevant information before approving or increasing a Credit Facility.

You agree to provide complete and accurate information for purposes of credit assessment.

Umba may use information obtained from you, information relating to your existing relationship with Umba, credit reference information and other information lawfully available to Umba for purposes of credit assessment, credit management, fraud prevention and risk management.

A decision to decline or vary a credit application shall not necessarily constitute an adverse finding against the applicant and may arise from Umba's credit, affordability, risk or regulatory criteria.

11. Credit Reference Bureau and Credit Information Sharing

Where permitted or required by Applicable Law, Umba may obtain, verify, use, submit and share credit information relating to you with licensed credit reference bureaus ("CRBs").

Such information may include information relating to:

credit applications;
Credit Facilities;
repayment performance;
outstanding obligations;
defaults and other credit events; and
other information permitted to be submitted or obtained under Applicable Law.

You authorise Umba to obtain credit information about you from licensed CRBs for purposes permitted by law, including credit assessment, account management, credit monitoring, fraud prevention and risk management.

Where you believe that information submitted by Umba to a CRB is inaccurate or incomplete, you may raise a dispute with Umba or the relevant CRB in accordance with Applicable Law and applicable dispute-resolution procedures.

12. Fees, Charges and Interest

Applicable fees, charges, commissions, interest rates and other costs shall be disclosed through Umba's applicable Tariff Guide, product terms, application, offer letter or other appropriate customer communication.

You agree to pay all fees and charges properly due in connection with the Services.

Umba may review its fees, charges and applicable rates from time to time, subject to Applicable Law and regulatory requirements.

Where notice of a change is required, Umba shall provide such notice through the applicable communication channels before the change takes effect.

No fee or charge shall be imposed except as permitted by Applicable Law and the applicable Tariff Guide, product terms or agreement.

13. Set-Off

To the extent permitted by Applicable Law and subject to applicable regulatory restrictions, Umba may set off amounts lawfully due and payable by you to Umba against funds held by you with Umba.

Where notice is required by law or regulation, Umba shall provide such notice.

This provision shall not limit any rights or protections that cannot lawfully be excluded or waived.

14. Anti-Money Laundering, Counter-Financing of Terrorism and Proliferation Financing

You agree to comply with all Applicable Laws relating to anti-money laundering, counter-financing of terrorism and countering proliferation financing ("AML/CFT/PF"), including the Proceeds of Crime and Anti-Money Laundering Act and applicable regulations and regulatory requirements.

Umba may conduct customer due diligence, enhanced due diligence, ongoing monitoring and transaction monitoring.

Umba may request information concerning:

your identity;
source of funds;
source of wealth;
beneficial ownership;
purpose of transactions;
nature of business or activities; and
other information required for AML/CFT/PF compliance.

Umba may delay, decline, restrict, suspend, block or reverse a transaction or restrict or close an Account where permitted or required by Applicable Law or where necessary to manage legal, regulatory, fraud, AML/CFT/PF or other financial crime risks.

Where disclosure is prohibited by law, Umba may not be able to disclose the reasons for certain transaction restrictions, reporting or other actions taken for AML/CFT/PF purposes.

15. Fraud, Security and Unauthorised Transactions

Umba may suspend, restrict or decline a transaction where it reasonably suspects fraud, unauthorised access, account compromise, cybercrime, money laundering, terrorism financing, proliferation financing or other unlawful activity.

You must immediately notify Umba of:

an unauthorised transaction;
suspected fraud;
loss or theft of your mobile device or SIM card;
compromise of your PIN, password, OTP or other authentication credentials; or
any other suspected compromise of your Account.

Umba may investigate reported unauthorised transactions and take reasonable steps to protect your Account and funds.

You must cooperate with reasonable investigations and provide information necessary to establish the circumstances surrounding a disputed transaction.

16. Data Protection and Privacy

Umba processes personal data in accordance with the Constitution of Kenya, the Data Protection Act, 2019, applicable regulations and other Applicable Law.

Depending on the purpose of processing, Umba may process personal data on the basis of consent, performance of a contract, compliance with a legal or regulatory obligation, legitimate interests or another lawful basis permitted by law.

Personal data may be processed for purposes including:

account opening and management;
provision of banking and financial services;
credit assessment and management;
AML/CFT/PF compliance;
fraud prevention and detection;
transaction monitoring;
regulatory reporting;
customer service;
debt recovery;
security and risk management;
product and service administration; and
other lawful purposes disclosed to you.

Umba may share personal data with regulators, government authorities, CRBs, payment service providers, technology providers, professional advisers, agents and other service providers where permitted or required by law or where necessary to provide or administer the Services.

Where applicable, Umba may process personal data through automated decision-making, profiling, fraud detection or credit assessment systems, subject to Applicable Law.

You have rights in relation to your personal data, including rights to be informed, access, correction, objection and other rights provided by Applicable Law.

Requests relating to personal data may be made through the contact details provided in Umba's Privacy Notice.

Umba's Privacy Notice forms part of these Terms and provides additional information concerning the processing of personal data.

17. Third-Party Service Providers

Umba may engage third-party service providers, agents, technology providers, payment service providers, CRBs, identity verification providers, professional advisers, debt collection service providers and other service providers in connection with the Services.

Such third parties may process information relating to you only to the extent permitted by Applicable Law and for purposes connected with providing, administering, securing or regulating the Services.

Where required by law, Umba shall ensure appropriate contractual and other safeguards are applied to relevant third-party processing.

18. Electronic Communications and Records

You agree that Umba may communicate with you electronically through SMS, email, push notification, in-app notification, telephone, website or other approved channels.

Electronic communications may include:

transaction confirmations;
statements;
account notices;
changes to Terms;
product information;
regulatory disclosures;
security alerts;
complaints-related communications; and
other communications relating to the Services.

Electronic records maintained by Umba may, subject to Applicable Law, constitute evidence of communications and transactions.

19. Marketing Communications

Umba may send promotional or marketing communications where permitted by Applicable Law.

Where consent is required, Umba shall obtain the appropriate consent.

You may opt out of marketing communications through the channels made available by Umba, without affecting mandatory service, transactional, security or regulatory communications.

20. Customer Responsibilities

You agree to:

use the Services lawfully;
provide accurate and complete information;
maintain the security of your Account;
promptly notify Umba of changes to your information;
comply with applicable product terms;
meet your payment obligations when due;
promptly report unauthorised transactions;
cooperate with reasonable KYC, AML/CFT/PF and fraud-prevention processes; and
not use the Services for unlawful or fraudulent purposes.

21. Prohibited Use

You must not:

use the Services for unlawful purposes;
impersonate another person or entity;
provide false, misleading or fraudulent information;
use the Services to facilitate fraud, money laundering, terrorism financing or other unlawful activities;
attempt to obtain unauthorised access to Umba's systems;
interfere with or disrupt the Services;
use automated systems to access the Services without Umba's permission;
introduce malicious software or code into Umba's systems; or
use the Services in any manner prohibited by Applicable Law.

22. Service Availability and Third-Party Systems

Umba will take reasonable steps to maintain availability and security of its Services.

However, the Services may occasionally be unavailable, delayed or interrupted because of maintenance, system upgrades, network failures, telecommunications failures, payment-system failures, cyber incidents, power outages, third-party service failures or other circumstances beyond Umba's reasonable control.

Where practicable, Umba will take reasonable steps to restore affected Services as soon as reasonably possible.

23. Intellectual Property

All intellectual property rights relating to the Umba brand, website, application, software, systems, content, trademarks, logos, designs and other materials provided by Umba remain the property of Umba or its licensors.

You may not reproduce, modify, distribute, sell, reverse engineer or commercially exploit any Umba intellectual property without Umba's prior written permission, except to the extent permitted by law.

24. Complaints Handling

Customers may lodge complaints through Umba's designated customer support and complaints channels.

Umba shall handle complaints in accordance with its complaints handling procedures and Applicable Law.

Customers should provide sufficient information to enable Umba to investigate and resolve a complaint.

Where a customer is dissatisfied with the resolution of a complaint, the customer may escalate the matter through applicable regulatory, statutory or alternative dispute-resolution mechanisms, including the Central Bank of Kenya where applicable.

Nothing in these Terms shall prevent a customer from exercising any statutory right available under Kenyan law.

25. Limitation of Liability

To the fullest extent permitted by Applicable Law, Umba shall not be liable for indirect, incidental, special or consequential loss arising from the use of the Services.

Nothing in these Terms shall exclude or limit liability where such exclusion or limitation is prohibited by Applicable Law.

Umba shall not be responsible for losses resulting from circumstances outside its reasonable control, except to the extent that liability cannot lawfully be excluded.

26. Indemnification

To the extent permitted by Applicable Law, you agree to indemnify Umba against reasonable losses, claims, liabilities and expenses arising directly from:

your fraud or unlawful conduct;
your material breach of these Terms;
your misuse of the Services; or
your provision of false or misleading information.

This clause shall not apply to the extent that the relevant loss arises from Umba's own negligence, wilful misconduct or breach of Applicable Law.

27. Suspension or Termination

Umba may suspend, restrict or terminate your access to an Account or Service where permitted by Applicable Law, including where:

you breach these Terms or applicable product terms;
you provide false, misleading or materially incomplete information;
you fail to satisfy KYC or AML/CFT/PF requirements;
fraudulent, unlawful or suspicious activity is suspected;
suspension or termination is required by a competent authority;
continuation of the relationship creates material legal, regulatory, security or financial crime risk;
the Account remains inactive or dormant in accordance with applicable requirements; or
termination is otherwise permitted by Applicable Law.

Where legally permissible, Umba shall provide reasonable notice.

Suspension or termination shall not affect obligations that accrued before the date of suspension or termination.

28. Death, Incapacity or Insolvency

Where Umba receives reliable notice of the death, incapacity or insolvency of a customer, Umba may restrict transactions on the relevant Account until appropriate legal documentation and instructions are provided.

Funds held in the Account shall be dealt with in accordance with Applicable Law and appropriate court, estate administration, insolvency or other legal requirements.

29. Force Majeure

Umba shall not be liable for delay or failure to perform an obligation where the delay or failure results from circumstances beyond its reasonable control, including:

natural disasters;
epidemics or pandemics;
war, terrorism or civil unrest;
government action;
industrial action;
power outages;
telecommunications or network failures;
payment-system failures;
cyber incidents or widespread technology failures; or
failures of third-party service providers.

Umba shall take reasonable steps to mitigate the effects of such events and restore affected Services as soon as reasonably practicable.

30. Notices

Umba may send notices and other communications through SMS, email, postal address, telephone, push notification, in-app message, website publication or other communication channels permitted by Applicable Law.

You are responsible for ensuring that your registered contact information remains accurate and current.

A notice shall be deemed received in accordance with the applicable communication method and Applicable Law.

31. Changes to These Terms

Umba may amend these Terms from time to time:

to comply with changes in Applicable Law or regulatory requirements;
to introduce or modify Services;
to improve security or operational processes;
to reflect changes in technology or business practices; or
for other legitimate business or regulatory reasons.

Where required, Umba shall provide reasonable notice of material changes.

The latest version of these Terms shall be made available through Umba's website, application or other appropriate channels.

Where continued use of a Service after the effective date of an amendment constitutes acceptance under Applicable Law, continued use shall constitute acceptance of the amended Terms.

32. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Republic of Kenya.

Any dispute arising in connection with these Terms shall be handled in accordance with Applicable Law and the applicable complaints and dispute-resolution mechanisms.

Nothing in these Terms shall restrict a customer's statutory right to seek redress through a competent court, regulator or other legally available mechanism.

33. Severability

If any provision of these Terms is determined to be unlawful, invalid or unenforceable, that provision shall be severed or modified to the minimum extent necessary, and the remaining provisions shall continue in full force and effect.

34. No Waiver

A failure or delay by Umba in exercising any right under these Terms shall not constitute a waiver of that right.

A waiver shall only be effective if expressly made by Umba in writing or through another legally recognised form.

35. Assignment

You may not transfer or assign your rights or obligations under these Terms without Umba's prior written consent, except where otherwise permitted by Applicable Law.

Umba may transfer or assign its rights and obligations where permitted by Applicable Law and subject to any required regulatory approval or customer notification.

36. Entire Agreement

These Terms, together with applicable product terms, account terms, loan agreements, tariff guides, Privacy Notice and other documents expressly incorporated into the customer relationship, constitute the agreement governing your use of the relevant Services.

If there is a conflict between these Terms and a specific product agreement, the specific product agreement shall prevail in relation to that product to the extent of the conflict.

37. Regulatory and Statutory Rights

Nothing in these Terms shall exclude, restrict or waive any right or protection that cannot lawfully be excluded, restricted or waived under the laws of Kenya.

Umba shall comply with applicable requirements issued by the Central Bank of Kenya and other competent regulatory authorities.

38. Deposit Insurance

Eligible deposits held with Umba shall be protected under the applicable deposit insurance framework administered by the Kenya Deposit Insurance Corporation, subject to the applicable law, limits, exclusions and conditions.

Customers should refer to the applicable KDIC requirements for further information.

39. Contact Information

If you have questions, require assistance or wish to lodge a complaint regarding these Terms or the Services, please contact Umba through:

Umba Microfinance Bank Limited
Email: kenyasupport@umba.com or info@umba.com
Website: www.umba.com
Telephone: +254 746 555 222
Postal Address: P. O Box 100854 – 000101, NAIROBI

For data protection matters:

Data Protection Contact: +254 798 766620
Email: dataprotection@umba.com

40. Acknowledgement

By opening an Account or using the Services, you acknowledge that:

you have had an opportunity to read and understand these Terms;
you agree to comply with these Terms and applicable product-specific terms;
you have been informed of the availability of Umba's Privacy Notice and applicable Tariff Guide; and
you understand that additional terms may apply to specific Services, including deposit and credit products.

Umba Microfinance Bank Limited

Last Updated: September 10, 2026

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