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Why this information is important 

This document sets out the terms and conditions for your mytalu personal account (your account) and its related services. It also sets out important details and information that you need to know.

These terms and conditions, along with the “Fees Page,” “Privacy Policy” and other terms and conditions that apply to our services, form a legal agreement (the “agreement”) between:

You, the account holder; and Us, MYTALU LTD.

What type of account is my mytalu Account?

Your account is a ‘virtual’ account that holds your e-money. E-money is defined as an electric alternative to cash. On receipt of money into the mytalu payment system, you will be issued with an equivalent value of e-money to undertake operations within the mytalu payment system. The money that is received by mytalu is held in a ringfenced trust account in accordance with the requirements as stipulated by the relevant local central bank.

Using your balance

Once you have e-money in your account you’ll be able to use our services. Examples of actions that can be undertaken are detailed below:

  • Sending money to other mytalu users both domestically and in other countries where mytalu operates
  • Paying money out to other payment networks e.g. Mobile Money and Bank Accounts
  • Paying for Bills
  • Purchasing Airtime
  • Holding & Converting currency in your mytalu wallet
  • Engaging in FX transfers and payments

The overarching aim of a mytalu account is to help you manage your finances and create a seamless payment experience both domestically and cross-border.

We intend to add new features on a regular basis, which we will update you on through the mytalu app and dedicated social media channels. 

Opening a mytalu account

To open a mytalu account you must be 18 years or older.

To begin the account creation process, you must first download the mytalu app to a supported device and ensure that you are connected to the internet. When you ask to open an account, we or someone acting for us will ask for information about you. This is done to check and validate your identity in order to meet certain legal and regulatory requirements. Our Privacy Policy explains more about how we use your information for these and other purposes. When we have the information that we need and it has been verified, we will open your account.

The types of information we will be collecting include items such as your name, telephone number, email address, identity documentation, selfie, and documentation pertaining to your physical address. You agree to provide complete and accurate information and documentation for this onboarding process. The use of the mytalu app is subject to our ability to verify your identity.  

If you are unable or unwilling to provide the necessary information during the onboarding process, we have the right to prohibit you from using the mytalu application and to prevent payment actions from being taken.

You are not permitted to open more than one mytalu personal account.

You are not permitted to open a new mytalu account if we have previously closed a mytalu account belonging to you.

A mytalu consumer account is designed to be opened by an individual and not for business purposes.

Please keep your details up to date and let us know immediately if any information you’ve given to us changes. We will also actively update information if we believe it to be incorrect. From time to time, you may be required to provide additional information when using the mytalu application. This is so that we can meet our legal and regulatory requirements. Please provide further information quickly to prevent disruption to your account and services.

Using Mytalu’s Services

Each time you access the application, you are confirming that the registration information you provided to mytalu is correct, complete, and accurate. Mytalu aims to maintain the security of the application and to that end, you will be prompted to complete various security measures, such as providing email address, password, Biometrics, PIN number and security question answer at various points in the application depending on the action being taken. These are designed to keep the app safe from fraudulent use. It is imperative that you do not divulge any information to anyone that would allow them to have access to your account.

Availability of Mytalu’s Services

We aim to have the application available 24 hours a day, 7 days a week, 365 days a year. However, there may be times when this isn’t possible. These downtimes may be due to mytalu needing to make upgrades or improvements or may be due to problems beyond our control. Examples include power outages, telecommunication failures, war, civil unrest, natural disasters or other acts of God.

The Transaction Feed

Within the mytalu application, you will be able to see fund movements both into and out of your mytalu account. We will use a notification-based system to inform you of fund movements into and out of your mytalu account. If you decide to turn off notifications, then you are strongly encouraged to routinely check your mytalu account for detailed information on fund movements.

Closing your account

You can close your account at any time through the mytalu mobile application. Please follow on-screen instructions in the account settings section of the app to complete this. The primary requirement will be to ensure that there are no funds held within your account.   

How is my money protected

When you add money to your account, the equivalent value of e-money is credited to your account immediately. 

The money that we receive is placed into a dedicated client money bank account that is held with large commercial or central banks (client money accounts keep your money separated from our own money, and the banks that can be used are subject to regulations). 

This process is called safeguarding.

Funds are safeguarded until the e-money is used by the account holder. 

With the safeguarding method, you, the mytalu account holder, are protected from an adverse event such as insolvency. In that event, you would receive the full value of your e-money balance from the client money bank account, where the funds were being safeguarded. 

The money in your account isn’t covered by the Financial Services Compensation Scheme (because it is safeguarded instead).

Keeping your security details safe & Preventing Fraud

We do everything we can to keep your money safe. We ask you to do the same by keeping your security details safe. We encourage you to disguise or protect them should you write them down. You should not share or disclose your security details with anyone. Please do fully close down the mytalu app when it is not in use and keep your mobile phone and email account secure. Do not let other people use them. If your account has been breached, or your security details have been compromised, let us know immediately. 

You authorise Mytalu to view, monitor and analyse all activity in your account so that we can effectively monitor fraud and other suspicious or financially risky activity. You further authorise Mytalu to investigate any potential fraudulent, suspicious, or financially risky activity. You further authorise mytalu to take necessary action to prevent, limit, eliminate, or mitigate any identified fraudulent, suspicious, or financially risky activity.

Are there restrictions on using the mytalu app?

Please act reasonably and responsibly when using the mytalu app.

For example, the mytalu app should not be used for any of the following purposes;

  • For illegal purposes e.g. Committing Fraud
  • In a way that we reasonably believe might harm our ability to provide our services
  • To control or use a mytalu account that is not yours
  • To allow anyone else to access your mytalu account
  • To abuse, exploit or get around any usage restrictions
  • To trade in foreign currencies for speculative purposes (that is, to take advantage of any expected rise or fall in the value of a currency) 
  • To take advantage of discrepancies in the foreign exchange market

Adding Money 

Money is added to your mytalu account through the “top-up” functionality. Depending on your country, this process may differ, so follow on screen prompts to complete this process. Upon the completion of this process and the arrival of funds, your mytalu account will be credited with the corresponding value of e-money for you to make use of.

Sending Money to another mytalu user

In order to send money to another mytalu user, simply select the contact you wish to make a transfer to, input the required volume of the transaction, observe the corresponding FX rate if the transfer is cross border and identify any labels you wish to attach to the transfer. Once the transfer has been confirmed, the funds will be deducted from your account and be instantly available to the recipient. 

Sending Money to a non-mytalu user

In order to send money to a non-mytalu user, simply enter the details of the contact you wish to make a payment to (This may be a mobile number or an account number depending on the end recipient), input the required volume of the transaction, observe ay fees and the corresponding FX rate if the payment is cross border and identify any labels you wish to attach to the transfer. Once the transfer has been confirmed, the funds will be deducted from your account and sent to the recipient.

Holding & Converting Multiple Currencies

Mytalu is aiming to create the most seamless payment experience and we believe a key part of that is being able to manage multiple currencies in your account. As such we have provided users with the ability to open multiple currency balances and facilitate the conversion between them. Following on-screen prompts allows you to see the FX rate for conversion of currency from one balance to another. After confirmation that conversion is done instantaneously and is reflected in the updated balances in your account.

Creating Remittance Pots

To create a Remittance pot, you can send an invite to a mytalu user to ask them to be linked to the pot. If you would like to set one up for someone who is not currently on mytalu then you can send them an invite link to join mytalu and once they are fully registered and verified, you will be able to link them. The Remittance pot feature allows you to send money to a linked receiver with purpose. It allows you to still have visibility over end usage and works in tandem with any remittance goals you may have.

Creating Savings Pots

To create a saving pot – follow the prompts on the mytalu app. A savings pot is a place where you can store some of you funds for a specific purpose. Any funds deposited here will not be included in your total balance available for spending. This tool is designed to help you reach your long-term goals.  

Paying Bills

To pay for a bill (Utility, Water, Electricity etc) in one of the supported countries, simply select the appropriate functionality from within the app and submit details regarding which type of bill you would like to pay for and provide key account details. Also note any applicable fees and the FX rate if paying for a bill that requires currency conversion.

Buying Airtime

To buy airtime in one of the supported countries, simply select the appropriate functionality from within the app and submit details regarding which type of airtime you would like to pay for and provide key details e.g., phone number.

What exchange rate do you use?

We utilise internal treasury management systems in combination with dedicated third-party FX providers to provide competitive FX rates. The exchange rate may fluctuate from time to time due to the nature of the currencies that we operate with. 

Liability for incorrect payments

You represent and warrant that all information you enter into the application or otherwise provide to Mytalu is true ad complete, including information about you, your account, and the Beneficiary of the payment. When Mytalu processes a payment, it relies on the information that you provide. You acknowledge that any errors in the information, including misidentification of the beneficiary, incorrect account details or names, misspellings, are your responsibility and that mytalu shall have no liability for executing a transfer based upon the inaccurate or incomplete information your provided to us.

Due to the instantaneous nature of mytalu’s payments. Your transfers are typically not cancellable or refundable. If you believe you have erroneously sent money through the mytalu app then you should let us know as soon as possible and we will attempt to reverse the transfer however this may not be possible if funds have already arrived at the beneficiary. Mytalu has no liability to you if we are unable to reverse the transfer.

When we will refuse or delay a payment

We must refuse to make a payment, or delay a payment, in the following circumstances:

  • If legal or regulatory requirements prevent us from making the payment or mean that we need to carry out further checks
  • If you have broken these terms and conditions in a way that we reasonably believe justifies us refusing or delaying a payment
  • If we believe that processing your instruction would break these terms and conditions
  • If the amount you are trying to use exceeds that total balance in your mytalu account
  • If the amount you are trying to send exceeds the amount that the recipient can receive
  • If there is a failure with a third party involved in the process
  • If your account has been suspended
  • If we require further information from you to ensure the payment is compliant with prevailing laws, regulations, and policies

Mytalu has an obligation to monitor for money laundering, fraud, terrorist funding, and other abuses of financial services.

If we are refusing or delaying a payment, we will make every effort to be transparent for the reasoning behind this decision. 

Fees for using this service

Fees incurred for using this service will be transparent and readily available in-app. Mytalu will disclose its fees and charge for providing a service prior to initiating the payment. Mytalu reserves the right to change the fees and charges. For payments you will be shown any appliable fees and any applicable FX rates. For more details, please see our FAQs page.  

What happens if someone else sends money

If we have reason to believe that you’ve acted fraudulently, or you intentionally or carelessly failed to keep your security details safe, we won’t refund any money. 

When could you suspend or close my account?

Mytalu reserves the right to suspend of close individual accounts if we believe the following to have occurred:

  • If we believe you have acted fraudulently
  • If you fail to provide information when requested or have provided incorrect information 
  • If you’ve broken the terms and conditions
  • If we believe that your use of the mytalu app is for harmful purposes
  • If your continued use of a mytalu account could cause damage to our reputation

When these Terms & Conditions apply & how we can change these terms

The Terms & Conditions are effective from the point you agree to them. They are conducted for an indefinite period and will continue to apply until terminated by you or us in accordance with these Terms & Conditions.

We can change these terms and conditions as required. Predominant reasons for changing the terms and conditions are:

  • To make them easier to understand
  • To reflect the way the business is run
  • To reflect legal or regulatory requirements
  • To reflect changes to the cost of running our business
  • We are introducing new products or services

You understand that you will be deemed to have accepted the changes to the Terms & Conditions unless you terminate your use oof the service and the Terms & Conditions before they come into force.

Miscellaneous Waiver

No failure or delay by a party to exercise any right or remedy provided under these Terms & Conditions  or by law shall constitute a waiver of that or any right or remedy, nor shall it prevent or restrict the further exercise of that or any other right or remedy. No single or partial exercise oof such right or remedy shall prevent or restrict the further exercise of that or any other right or remedy.


Except as expressly provided in these Terms & Conditions, the rights and remedies provided under these Terms & Conditions are in addition to, and not exclusive of, any right or remedies provided by Law.

Entire Agreement

Each party acknowledges that (i) these Terms & Conditions contain the whole agreement between the parties relating to the subject matter hereof and supersede all prior agreements, arrangements and understandings between the parties relating to the subject matter (ii) in entering into these Terms & Conditions, it does not rely on any statement, representation, assurance or warranty (whether it was made negligently or innocently) of any person (whether a party to these Terms & Agreements or not) other than as expressly set out in his Agreement; and (iii) the only rights and remedies available to it arising out of or in connection with a Representation shall be for breach of contract.


If any provision or part-agreement of this agreement is or becomes invalid, illegal or unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of these Terms & Conditions.

Third Party Rights

A person who is not party to these Terms & Conditions shall not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of these Terms & Conditions, but this does not affect or remedy of a third party which exists, or is available, apart from the Act.

No Partnership or Agency

Nothing in this agreement is intended to, or shall be deemed to, establish any partnership or joint venture. Each party confirms it is acting on its own behalf and not for the benefit of any other person. In particular, you agree not to use the Mytalu app or services on behalf of, or as ana agent of, any other person.

Final Legal Terms and Conditions

To provide services under the agreement we need to collect information about you. Under data protection law, we are what is known as the ‘data controller’ of your personal information. For more information about how we use your personal information, see our Privacy Policy.

By entering into this agreement, you are giving us permission to gather, process and store your personal information for the purpose of providing our services to you. This doesn’t affect any rights and obligations you or we have under data protection law.

You can withdraw your permission by closing your account, which will end the agreement between you and us. If you do this, we’ll stop using your information for the purpose of providing our services, but we may need to keep your information for other legal reasons. 

Except as we have set out in the section below, we own all the intellectual property in our products (for example, the content in our app and on our website and our logo). You must not use our intellectual property as your own, except to enjoy our products. You also must not reverse-engineer any of our products. 

Our Contract with You

Only you and we have any rights under this agreement. The agreement is personal to you and you cannot transfer any rights or obligations under it to anyone else.

Our Right to Transfer

We will only transfer any of your and our rights or obligations under this agreement if we reasonably think that this won’t have a significant negative effect on your rights under these terms and conditions or we need to do so to keep to any legal or regulatory requirement. When we transfer rights and obligations we call this ‘novation.’ When we only transfer rights, we call this ‘assignment’.

English Law Applies

The Laws of England and Wales apply to these terms and conditions.

The English version of the agreement applies

The language of any agreement between you and us, including these terms & conditions is English. All services, instructions and transactions carried out in connection with it will also be in English. If these terms and conditions are translated into another language, the translation is for reference only and the English version will apply.

Our right to enforce this agreement

If you have broken the agreement between you and us and we don’t enforce our rights, or we delay in enforcing them, this will not prevent us from enforcing those or any other rights at a later date

Taking legal action against us

If you want to take legal action against us in the courts, only the courts of England and Wales can deal with any matter relating to these terms and conditions. 

Reaching out to us

Please feel free to contact us at if you have any questions, complaints or queries about our terms & conditions.