Severe penalties are defined for activities that we advise on as ill practices against using PEXBANK services. Be sure to keep track of this page for updates as our services continue to expand to provide you services that you may need. Using PEXBANK services implies that you consent to actions that may be executed against you for misconduct or for non-compliance. Warning signs and notifications are most likely to bring to your awareness the information on this page.
1. Misuse of privileges: Any privileges that we have provided to you in using our services (or bridging our policies) will be withdrawn instantly without any notices.
2. Attempting to share contact details: Routine checks (both AI automated and manual) will detect attempts to share contact details. This is to ensure compliance. Any form of an attempt to share contact information or bank account detail or other details inappropriately will come at grave costs. Please, note the information below:
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There are two sections of the PEXBANK website where conversations are allowed – The Private Messaging and The Order Chat sections.
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Private Messaging enables preorder conversations, that is, you can negotiate trades before an order is initiated. Here, it is prohibited to share contact details in any format, as we assume this action is an attempt to lure users away and divert traffic away from the shared ecosystem of transactions to victimize our users or discredit our effort for safe trades.
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The Order Chat enables you to continue conversations after an order is initiated. Here, it may be allowed to share payment details and personal information moderately, but not with attempts to lure users away to victimize them.
You will not receive a second warning if you are identified for defaulting. Your account will be temporarily limited and no form of transaction will be permitted, however, you will be given a chance to redeem your account status by paying a sum of N50,000 or its USD equivalent as a caution fee, and you will be required to re-verify your account again. After this, any repeat of such actions will lead to indefinite account suspension, and you will not be able to register a new account with us again.
3. Fraudulent transactions: Any transactions that are certified as fraudulent with investigated proofs and evidence will not only restrict your account indefinitely but also, affirms our support to the aggrieved party in ensuring that justice is served through appropriate financial authorities.