1.  “Mobile Money Account” means MTN Mobile Money Wallet or Account;
2.  “Service(s)” means the provision of Micro Credit Loan services to Mobile wallet holders via a platform, called “Xtracash”;
3.  “Service Fee” means the sum payable for the provision of the Service;
4.  “Customer” means the person(s) or entity(ies) to whom the Mobile Money account belongs to.;
5.  “Network” means the mobile network operated by MTN Zambia;
6.  “We,”“our,” and “us,” means Access Bank Zambia;
7.  “You” or “your” means the Customer and includes the personal or legal representatives and assigns of the Customer.


8.  XTRACASH/the Service is available to Customers holding a Mobile Money Account.
9.  By subscribing to the Service, the Customer consents to the Terms and Conditions set out herein.
10.  Consent of the Customer shall commence upon an application/subscription for the Service and shall subsist throughout the period of subscription to the Service and shall only be vitiated by a written instruction from the Customer.
11.  For all intents and purposes, by subscribing to the Service and in the course of each transaction carried out under the Service, you unequivocally give your consent to MTN to collect, process, share with third parties or adapt your personal information/data at any time for the purpose of providing, improving or upgrading the Service or the platform upon which the Service is hosted on the one hand and/or analyzing or assessing the credit viability or otherwise of Your subscription.
12.  Personal information/data includes and shall not be limited to your KYC, airtime usage and/or your Mobile Money Account usage.
13.  An applicant for a loan under the Service must be eighteen (18) years old or over to qualify for a loan.
14.  To request the Service, Customers need to dial *303# and select the Kongola option and the XTRACASH (new) option.
15.  If your application is approved, you will get an an SMS confirming:

15.1.  the Loan Amount;
15.2.  the Service fee; and
15.3.  the Due Date.

16.  Subject to approval of your application for a loan, you will be disbursed a loan of an amount to be determined by us at our sole discretion.
17.  You may accept or decline the loan offer by following the instructions on the menu.
18.  Upon approval of your application, the loan shall be disbursed directly into your Mobile Money Account.
19.  We reserve the right without assigning any reason to approve or decline your application for a loan.
20.  You shall repay the loan by the due date communicated to you at the time of the loan disbursement. The loan period shall not exceed 30 days.
21.  The loan amount in addition to any fees and interests are automatically deducted from your Mobile Money account on the loan due date. Any outstanding amount that remains unpaid shall be deducted from funds deposited in your account until the full loan balance is repaid
22.  By accepting the terms & conditions of the service, you hereby authorise us to automatically debit your Mobile Money account to repay any outstanding debt
23.  You may choose to pay the Loan Amount on or before the Due Date by using the repayment option on the Xtracash menu

Please note that MTN charges a small operational fee to attend to early manual repayments

The current fees are:

24.  You shall make all payments due from you in respect of the Loan and Fees using the Mobile Money Account
25.  In the event that you do not repay the Loan in full within thirty (30) calendar days of the date of disbursement of the Loan, a grace period may be provided to repay the loan without applying additional charges
26.  After the grace period, any outstanding amount shall automatically be rolled over for a further period of thirty (30) calendar days beginning from the due date of the loan. The applicable fees and interests shall be communicated to you via SMS
27.  In case the loan is not fully repaid after ninety (90) calendar days of the date of disbursement of the Loan:

27.1.  the customer is notified by SMS that they are in delinquency state
27.2.  the customer is reported as a defaulter to the central bank and the national credit bureaus
27.3.  Legal action may be taken to recover any outstanding amounts from you
27.4.  You accept that any debt may be recovered from other bank accounts, deposits or digital wallets held by you


You acknowledge that you have no claim against Us or our service providers for damages resulting from losses, delays, misunderstandings, duplications or any other irregularities in connection with your application for or your use of a XTRACASH loan.


4.1. By using the service you unequivocally consent and authorize Us to record, process and disclose your personal information/data to competent authorities including but not limited to government agencies, credit bureaus and other financial institutions for application assessment and fraud prevention.
4.2.  Any addition or alteration to these Terms and Conditions may be made from time to time by Us and of which notice has been given to you by way of publication shall be binding upon you as fully as if the same were contained in these Terms and Conditions. Customers are required to check the T&C before taking each loan.
4.3.  You consent to, and authorize Us and our service providers and or its affiliates to communicate the following to you: your transactional activity, service messages, and offers for products or services via SMS.
4.4  We have no liability for transactions which are incorrect as a result of inaccurate data entry in the course of the use of the Service or for loss of data or information caused by factors beyond our control.
4.5  By using the Service you agree to the above mentioned terms. If you do not agree to these Terms, do not use the Service.


You agree that all matters relating to your access to or use of the Service shall be governed in accordance with the Laws of the Republic of Zambia.