Reversal & Refund Policy Highlights:
Duplicate card debits or payment gateway transfer errors are automatically identified and reversed to the originating bank account or wallet within 24 to 48 business hours. Main wallet balances are withdrawable at any time.
1. Overview & Transparency
At Seabed Multipurpose Cooperative Society Limited ("Seabed Cooperative"), we maintain total financial transparency. This Refund & Cancellation Policy outlines member rights, reversal timelines, and rules governing wallet balances and fixed savings programs.
2. Duplicate Debits & Gateway Reversals (24–48 Hours)
If a member is debited more than once for a single deposit or payment transaction due to card network or bank processor glitches (such as Flutterwave or PaygatePlus):
Automatic Reversal Process:
- Duplicate funds are reconciled and automatically refunded within 24 to 48 business hours.
- Members can forward transaction references to support@seabedcooperative.org for priority processing.
3. Main Wallet Withdrawals
Funds held in a member's Seabed Main Balance wallet are flexible and may be withdrawn to the member's verified commercial bank account at any time, subject to standard security verification and daily transaction limits.
4. Structured Program Savings Lock-in Terms
Contributions dedicated to fixed cooperative plans (such as Nwa Boi Apprenticeship, Traders Empowerment, Sustainable Education, High Net Worth, or Hybrid Savings) are invested according to cooperative program contracts:
- Premature cancellation before the program maturity date is subject to terms outlined in the specific program agreement to protect group capital yields.
- Upon maturity, full principal and accrued earnings are credited directly to the member's wallet for immediate withdrawal.
5. Dispute Escalation Desk
Customer Resolution Team
Support Email: support@seabedcooperative.org | seabed@seabedcooperative.org
Phone: +234-903-942-0459 | +234-702-671-1967