PayWave Withdrawal & Payout Policy
Last Updated: March 2026 • Effective for all PayWave member reward disbursements.
Non-Hidden ₦6,200 Withdrawal Processing Fee
PayWave charges a mandatory, flat administrative and fraud-prevention processing fee of ₦6,200 per withdrawal request. This fee covers banking API gateway overheads, identity validation, and anti-sybil auditing.
1.Minimum Withdrawal Threshold
Users are eligible to initiate a withdrawal request once their available, verified token balance reaches a minimum of 5,000 TOKENS (₦20,000 equivalent) based on our standard 1 Token = ₦4 conversion rate. Tokens below this threshold cannot be converted or cashed out.
2.Payment Method for Processing Fee
The ₦6,200 processing fee must be settled exclusively via Paystack Checkout (using Debit Card, Bank Transfer, or USSD via Paystack's secured checkout window).
Security Warning: PayWave will never instruct you to send processing fees to any individual, agent, or personal bank account. All payments occur within the PayWave application connected to Paystack.
3.Withdrawal Status Lifecycle
Request has been submitted, but the ₦6,200 Paystack fee has not yet been finalized.
Fee payment verified server-side. Queued for manual administrator bank transfer.
Bank payout executed with session reference logged in transaction ledger.
Invalid bank details or flagged for multi-account abuse.
4.Manual Processing During MVP
During this current MVP operational phase, authorized system administrators review and manually dispatch payouts directly to the user's verified NUBAN bank account within 24 to 48 business hours after fee confirmation. Future releases will support automated instant Paystack Transfers.
5.Rejection Conditions
A withdrawal request may be flagged or rejected under the following conditions:
- Bank account name does not correspond with registered user identity.
- Invalid 10-digit NUBAN number provided.
- Multiple accounts originating from identical device or IP fingerprints.
- Responses submitted through automated scripts or bots.