PhosMonie

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Frequently Asked Questions

What security measures do you have in place to protect my financial information?

PhosMonie employs advanced security measures including SSL encryption, two-factor authentication (2FA), and continuous monitoring to protect your financial information. We adhere to Nigeria's cybersecurity guidelines and NDPR (Nigeria Data Protection Regulation) to ensure your data is securely handled and safeguarded at all times

How is my personal information used, and who has access to it?

Your personal information is used solely for providing and improving our services, such as processing transactions and enhancing user experience. Access to your data is restricted to authorized personnel only and is governed by strict privacy policies in compliance with NDPR. We do not sell your information to third parties

Are there any fees associated with your services?

PhosMonie provides a transparent fee structure. There are no hidden fees. We charge minimal fees for transactions such as transfers and withdrawals, and full details are provided upfront. Our fee schedule is available on our app and website for your convenience.

How can I access customer service and support?

Our customer service is accessible 24/7 via multiple channels including a dedicated call center, live chat on our app and website, and email. We strive to ensure that support is always available whenever you need assistance.

What happens if I lose my phone or my digital wallet is compromised?

If you lose your phone or suspect any unauthorized activity in your digital wallet, please contact us immediately to freeze your account and prevent any fraudulent transactions. We will guide you through the steps to secure your account and issue a new secure access.

Is my money protected like it would be in a traditional bank?

Yes, funds deposited in PhosMonie are held in accounts with licensed financial institutions that are insured by the Nigeria Deposit Insurance Corporation (NDIC). This ensures that your money is protected similar to traditional banking standards.

How do I close my account if needed, and what happens to my data?

To close your account, please contact our support team who will guide you through the process. Upon account closure, your data will be securely stored for a period as required by Nigerian law, after which it will be safely deleted unless otherwise required for legal reasons.

How do I dispute a transaction or report a mistake on my account?

If you notice any discrepancies or unauthorized transactions on your PhosMonie account, you can report them immediately via our app or website. Additionally, you can contact our customer service directly via phone or email. We prioritize such issues and ensure a swift investigation. Once you file a dispute, our dedicated team will review the transaction details, engage with related parties, and aim to resolve the issue within 5 to 10 working days, depending on the complexity of the case. We will keep you updated throughout the process. It is crucial that you report any issues as soon as possible to facilitate a quick resolution.

How do I dispute a transaction or report a mistake on my account?

If you notice any discrepancies or unauthorized transactions on your PhosMonie account, you can report them immediately via our app or website. Additionally, you can contact our customer service directly via phone or email. We prioritize such issues and ensure a swift investigation. Once you file a dispute, our dedicated team will review the transaction details, engage with related parties, and aim to resolve the issue within 5 to 10 working days, depending on the complexity of the case. We will keep you updated throughout the process. It is crucial that you report any issues as soon as possible to facilitate a quick resolution.

How quickly are transactions processed, especially in emergencies?

Most transactions, including bill payments and transfers, are processed instantly. In the event of an emergency, immediate transactions such as instant transfers to other PhosMonie users are available to ensure timely access to funds.

What are the limitations of your service?

While PhosMonie aims to offer comprehensive financial services, some limitations include daily transaction limits for security reasons, availability of certain services in specific geographic regions, and compliance with Nigerian financial regulations that may impact international transactions.