WeVault - Savings Terms

Western Vault Savings Terms & Conditions

Building Financial Stability through Smart Digital Savings

At Western Vault (WeVault), we promote a disciplined culture of saving and wealth growth. Our digital savings programs — Target Savings, Recurring Savings, and Vaulted Flex Savings — are designed to help customers accumulate funds securely while earning competitive interest within a regulated fintech ecosystem.

WeVault operates as a digital financial technology service, partnering with licensed banks, insured custodians, and trusted payment processors to ensure every deposit and withdrawal is fully secure.

1. Eligibility

To open a WeVault savings plan, users must:

● Have a verified and active WeVault account.
● Complete KYC verification and link an approved withdrawal account.
● Agree to the relevant product terms, including duration and withdrawal conditions.

2. Savings Funding & Activation

Savings plans activate upon successful funding.
Funding can occur via:

● Wallet transfer from internal balance,
● Bank deposit via verified gateway, or
● Auto-debit from linked payment instruments (where enabled).

Each plan specifies a minimum deposit amount, tenure, and applicable interest rate.

3. Interest Calculation & Credit

Interest accrues on a daily, weekly, or monthly basis depending on the plan type and duration.
WeVault applies standardized interest formulas compliant with global fintech and digital banking standards.
Interest earnings are credited to the saver’s account upon maturity or at pre-defined payout intervals.

4. Withdrawal & Maturity Policy

Withdrawals prior to the agreed maturity date may incur:

● Loss of accumulated interest for the period, or
● Nominal early-exit administrative charges.

At maturity, users can:

● Withdraw principal + interest,
● Roll over the plan into a new cycle, or
● Transfer funds to an investment or wallet account.

5. Auto-Save & Target Features

Recurring savings may include auto-save options or goal-based targets, enabling automatic deductions at scheduled intervals.
Users are responsible for maintaining sufficient balance for auto-deduction; failed auto-saves may delay interest accrual.

6. Account Inactivity & Dormancy

Accounts with inactive savings beyond 180 days may be classified as dormant and subject to verification prior to reactivation.
WeVault reserves the right to contact users for identity re-confirmation in line with financial compliance laws.

7. Data Privacy & Security

All savings data and financial information are protected under the WeVault Privacy & Security Policy, ensuring encryption, confidentiality, and compliance with the UK Data Protection Act and GDPR.

8. Default, Breach & Fraud Policy

Any fraudulent action, misrepresentation, or unauthorized access attempt will result in:

● Immediate account suspension,
● Forfeiture of any accrued benefits, and
● Possible legal action under applicable digital finance laws.