Risk & Safety
Payout Details and Account Name-Match Policy
This policy explains how Akara handles bank and mobile money payout details.
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
Payout Details We May Collect
For NGN, Akara collects bank account details. For RWF, GHS, KES, and XAF, Akara collects mobile money or other supported payout details depending on the country and network.
Name-Match Rule
The payout account name must strictly match the verified legal name on the Akara account. Minor spelling differences may go to admin review. Using someone else's payout account is not allowed at launch.
Saved Payout Accounts
Users may save up to 2 payout accounts per currency at launch.
Editing Payout Details
A 6-digit passcode is required to edit payout details. A selfie check or admin review may be required for risky changes, such as name changes or unusual editing patterns.
User Responsibility
Users must confirm payout details before sending money. Akara shares payout details inside the trade flow so both sides can verify them, but the sender is responsible for checking before payment.
Safety Action
Akara may reject payout details, pause trades, restrict accounts, require admin review, or block users where payout information appears unsafe, mismatched, or suspicious.