This policy explains what happens to your money when a deposit, an order or a withdrawal fails or is cancelled on Amarah, a service of AMARAH SARL (Yaoundé, Cameroon). It applies alongside the consumer protection rights you have under the law of the country where you live, which it does not limit.
1. Fees are shown before you confirm
Our fees are listed in section 6 of our Terms of Service. Before you confirm a deposit, an order or a withdrawal, the app shows the amount, the fees and the exchange rate that will apply. Nothing is charged until you confirm.
2. Deposits
- A deposit is added to your Amarah balance only after our payment provider confirms that your mobile money operator completed the payment.
- If a deposit fails, is declined or expires, nothing is added to your balance and no Amarah fee is charged.
- If your mobile money wallet was debited but the deposit did not complete, the debit is reversed by your operator or our payment provider. If the money is not back in your wallet within 3 business days, contact us with the reference shown in the app and we will trace it with our payment provider.
- Once a deposit is completed, the money is in your Amarah balance and you can withdraw it at any time. The deposit fee and the currency conversion on a completed deposit are not refunded, because that service has been provided.
3. Buy and sell orders
- You can cancel an order in the app as long as it has not been executed, for example an order placed while the US market is closed.
- When a buy order is cancelled, expires or is rejected by our broker partner, the full amount reserved for it, including the trading fee, is returned to your Amarah balance.
- An executed order cannot be cancelled or refunded. Share prices change constantly and an executed trade is final. To exit a position, place a sell order; the trading fee applies.
4. Withdrawals
- Withdrawals are only sent to the mobile money number verified on your account. Changes to that number are reviewed by our team before they apply.
- If a withdrawal fails or is rejected by the operator, the full amount, including the withdrawal fee and the currency conversion, is automatically returned to your Amarah balance.
- A withdrawal that has been paid to your mobile money number cannot be reversed by Amarah. If you did not request it, contact us immediately so we can secure your account.
5. Errors
If an amount is debited or credited wrongly because of an error by Amarah or one of our providers, we correct it as soon as we become aware of it and tell you what was corrected and why. This includes reversing an amount credited to you by mistake.
6. Closing your account
Opening an account is free and there is no subscription, so there is nothing to refund when you close it. Before closing, sell your positions and withdraw your balance; the usual fees apply. You can close your account from the app or by contacting us.
7. How to make a request or a complaint
Email hello@useamarah.com from the address registered on your account, with the transaction reference shown in the app. We acknowledge every request and give you a reasoned answer.
If you are not satisfied with our answer, you can contact the consumer protection authority of the country where you live. In Cameroon, consumer rights are set out in Framework Law No. 2011/012 of 6 May 2011 on consumer protection.