Core Terms
Terms of Service
These Terms explain how users may access and use Akara.
EFFECTIVE: JULY 5, 2026
Akara does not hold, receive, escrow, custody, remit, convert, or move user funds. Users send money directly to each other through their own bank or mobile money accounts. Users must confirm payout details before sending money. KYC data, receipts, and WhatsApp chat records may be used for fraud prevention and dispute review. Akara may pause trades, restrict accounts, suspend listings, require admin review, or block users where needed for safety.
Key reminders
- Akara does not hold or move funds
- Confirm payout details before sending
- KYC data, receipts, and chat records may be used for fraud prevention and dispute review
- Akara may pause trades or restrict accounts for safety
What Akara Does
Akara provides software tools for verified users to discover, list, coordinate, and track peer-to-peer currency exchange arrangements. Akara supports verification, offer discovery, listings, matching, payout detail exchange, receipt upload, confirmations, reminders, dispute handling, transaction history, and fraud monitoring.
What Akara Does Not Do
Akara Fintech Solutions is registered in Nigeria as a business name under BN 9656395. Akara provides software tools that help verified users discover, list, coordinate, and track peer-to-peer currency exchange arrangements. Akara is not currently licensed as a bank, remittance company, bureau de change, wallet, escrow provider, payment processor, or money transfer operator.
Akara does not hold, receive, escrow, custody, remit, convert, or move user funds. Users send money directly to each other through their own bank or mobile money accounts.
Eligibility
- Users must be at least 18 years old.
- Only individual users are supported at launch. Business accounts are not available yet.
- Users outside Africa may use Akara only if they are verified and transacting within supported currency corridors.
Verification Requirement
Users may browse basic information, but must be verified before creating listings, opening trades, adding payout accounts, or completing exchanges.
User Responsibilities
- Provide accurate and truthful information.
- Use only your own payout account.
- Confirm payout details before sending money.
- Upload true, unedited receipts.
- Do not bypass Akara's flow, records, or safety checks.
- Cooperate with safety reviews and admin requests.
Trade Rules
- An open trade expires after 15 minutes if not progressed.
- After marking payment as sent, a user cannot cancel the trade and must raise a dispute if something goes wrong.
Fees
Akara is permanently free to use and does not charge service, subscription, usage, or monthly fees. Users remain responsible for charges imposed by their bank, mobile-money provider, network, or another third-party provider.
Safety Action
Akara may restrict accounts, pause trades, suspend listings, require admin review, or ban users for confirmed misuse. KYC data, receipts, and WhatsApp chat records may be used for fraud prevention and dispute review.