Africhange Referral Program Terms & Conditions

1. Definitions

For the purposes of these Referral Terms:

• "Afripoints" means non-cash promotional reward points issued under the Program.
• "Base Currency" means the primary currency associated with your Africhange account.
• "Program Settings" means the reward amounts, minimum transaction thresholds, redemption limits, reward caps, expiry periods, and other operational parameters published in the Africhange app or website, as updated from time to time.
• "Promotion" or "Campaign" means a limited-time offer with modified reward structures.
• "Qualifying Transaction" has the meaning set out in Section 4.

Africhange may update Program Settings at its discretion.

2. Eligibility

1. 2.1The Program is available to verified Africhange users residing in Australia, Canada, Nigeria, and the United Kingdom.
2. 2.2

   Both the referring user ("Referrer") and the invited user ("Referee") must:

   • maintain accounts in good standing;
   • complete all required identity verification (KYC) procedures; and
   • comply with applicable laws and the Africhange Terms of Service.
3. 2.3Participation does not guarantee receipt of rewards. All rewards are subject to compliance, fraud, sanctions, and regulatory review.
4. 2.4Africhange reserves the right to determine eligibility in its sole discretion.
5. 2.5Africhange may suspend or permanently remove any participant from the Program at its discretion.
6. 2.6By participating in the Program (including generating or using a referral link, or completing a Qualifying Transaction), the Referrer and Referee are each deemed to have accepted the version of these Referral Terms then in effect. Participation in the Program does not create any partnership, employment, agency, or joint venture relationship between participants and Africhange.

3. How the Program Works

1. 3.1A Referrer may share a unique referral link or code issued by Africhange.
2. 3.2

   A referral is valid only if:

   • the Referee registers using a valid referral link or code; and
   • the Referee is a new Africhange customer who has never previously registered or transacted.
3. 3.3Referral tracking is determined solely by Africhange's systems. Africhange is not responsible for lost, invalid, misdirected, or misattributed referrals.
4. 3.4The Referrer represents that any person they invite has consented to receive referral communications where required by applicable law, and that the Referrer will not engage in unsolicited, misleading, or unlawful marketing practices.
5. 3.5Country Restriction. Referrers may only refer individuals whose Africhange account is registered in the same country as the Referrer's account registration country. Cross-border referrals are not permitted unless expressly allowed under an active Promotion published in the Africhange app or on the Africhange website. Africhange's systems will not assign rewards for referrals that do not comply with this country restriction.
6. 3.6Independent Participants. The Referrer and Referee must be independent individuals. Africhange may deem a referral invalid where the Referrer and Referee share the same device, IP address, payout bank account or card, or other identifying information indicating common control, regardless of whether separate KYC identities were used.

4. Qualifying Transaction Requirements

1. 4.1To trigger referral rewards, the Referee must complete a Qualifying Transaction, which must be the Referee's first successfully completed transaction on Africhange.
2. 4.2

   A Qualifying Transaction must:

   • involve a genuine foreign exchange (FX) conversion between two different currencies;
   • meet the minimum transaction amount specified in Program Settings; and
   • successfully settle without cancellation, reversal, refund, or chargeback.
3. 4.3

   The following do not qualify:

   • same-currency transfers;
   • withdrawals;
   • internal wallet movements; and
   • artificial, circular, self-funded, or manipulative transactions, including but not limited to:
     • a transaction funded, in whole or in material part, by funds received from another Program participant (whether the Referrer, Referee, or any other user) within the preceding 30 days;
     • reciprocal transfers between a Referrer and Referee, or among members of a referral network, where the same funds are transferred back and forth to generate repeated Qualifying Transactions; and
     • any transaction pattern that Africhange reasonably determines was structured primarily to trigger referral rewards rather than to obtain a genuine FX transfer.
4. 4.4Africhange reserves the right to determine, in its sole discretion, whether a transaction qualifies.
5. 4.5A Qualifying Transaction must be funded from an external source (bank transfer, debit or credit card, or other direct funding method). Funds transferred to the Referee's account by another Program participant do not constitute valid funding for a Qualifying Transaction.

5. Country-Specific Rewards

Unless otherwise specified in an active Promotion published in the Africhange app or on the Africhange website, the standard referral rewards are as follows:

• United Kingdom

  £10 each

  Referrer and Referee

  Minimum first transaction £100

• Canada

  $20 CAD each

  Referrer and Referee

  Minimum first transaction $100 CAD

• Australia

  $20 AUD each

  Referrer and Referee

  Minimum first transaction $100 AUD

• Nigeria

  $5 USD each

  Referrer and Referee

  Minimum first transaction $200 USD (or USD equivalent)

Reward values, currencies, and thresholds may vary by Promotion and are subject to change in Program Settings.

6. Rewards (Afripoints)

1. 6.1Rewards are issued as Afripoints.
2. 6.2Afripoints will be credited within 48 hours once the Qualifying Transaction has successfully settled and passed Africhange's automated and/or manual review for compliance with Section 4. Africhange may extend this review period where a transaction or referral pattern requires further verification.
3. 6.3Rewards remain pending during review and may be withheld, adjusted, or cancelled if irregular or non-compliant activity is detected.
4. 6.4

   Afripoints:

   • have no cash value;
   • are not legal tender;
   • are non-transferable;
   • cannot be sold or withdrawn as cash; and
   • may only be redeemed in accordance with these Referral Terms.
5. 6.5Expiry. Afripoints must be redeemed within 30 days from the date credited unless otherwise specified. Unused Afripoints automatically expire.
6. 6.6Caps. Africhange may apply maximum reward caps per user, household, device, IP address, payout bank account or card, referral network, or time period.

7. Redemption Rules

1. 7.1Afripoints may only be used as a discount on eligible FX transactions.
2. 7.2Afripoints may only be applied when the send currency matches your Base Currency.
3. 7.3Minimum send amounts, daily caps, and redemption limits are set out in Program Settings.
4. 7.4A transaction must result in a positive payable amount after Afripoints are applied.

8. Clawback, Recovery & Negative Balances

1. 8.1If a Qualifying Transaction is cancelled, reversed, refunded, charged back, found not to meet the requirements of Section 4 (including the exclusions in Section 4.3), or is later deemed ineligible, Africhange may deduct the corresponding Afripoints. Africhange will ordinarily exercise this right within 90 days of the transaction date, save where the ineligibility only becomes apparent later through a wider pattern-of-conduct review, in which case Africhange may act within a reasonable time of that discovery.
2. 8.2If Afripoints have already been redeemed, Africhange may recover the equivalent monetary value from account balances or offset it against future rewards.
3. 8.3Negative Afripoint balances may result in suspension from the Program.
4. 8.4Africhange's determination is final.

9. Fraud, Compliance & Regulatory Obligations

1. 9.1

   Africhange may withhold, delay, adjust, cancel, or reverse rewards to:

   • comply with applicable laws;
   • conduct AML, sanctions, fraud, or risk monitoring; or
   • investigate suspicious or abusive conduct.
2. 9.2Africhange may use automated pattern and network analysis (including review of counterparties, transaction timing, and fund flows) as part of its fraud, compliance, and risk monitoring under this Section.

10. Prohibited Conduct

1. 10.1

   Prohibited activities include:

   • self-referrals;
   • operating multiple accounts;
   • artificial transactions, including circular or reciprocal fund transfers between a Referrer and Referee, or within a referral network, intended to artificially generate Qualifying Transactions (see Section 4.3);
   • misrepresentation; and
   • violations of applicable law.
2. 10.2Africhange may reverse rewards or suspend accounts where abuse is suspected.

11. Taxes

Participants are responsible for any tax obligations arising from rewards.

12. Changes or Termination

1. 12.1Africhange may amend these Referral Terms, modify rewards, or terminate the Program at any time.
2. 12.2Material changes will be communicated via the Africhange website, app, or email.
3. 12.3Continued participation after changes become effective constitutes acceptance of the updated Referral Terms.
4. 12.4If you do not agree to the updated Referral Terms, you must stop participating in the Program.

13. Limitation of Liability

To the maximum extent permitted by law, Africhange shall not be liable for technical errors, tracking issues, or indirect losses. Nothing in these Referral Terms excludes liability where such exclusion is prohibited by law.

14. Governing Law

These Referral Terms are governed by the laws specified in the Africhange Terms of Service applicable to the entity servicing your account. Disputes shall be resolved in accordance with the dispute resolution provisions in the Africhange Terms of Service. In the event of a conflict, these Referral Terms govern solely in relation to the Program.