Scammers keep getting better with their tricks, and we can very easily fall prey, especially since we’re all mostly on the lookout for ways to increase our financial power. There are different tools and resources with which a legitimate business owner can build their brand and finances. You can read about them here.

While we are on the lookout for ways to grow our finances, it is also important to beware of prowling individuals who feign legitimacy using established brands to defraud unsuspecting individuals. It is easy to fall prey, but with caution and good information, you can protect yourself from fraudsters who pretend to be affiliated with FairMoney. 

There are certain patterns with which these impostors operate; first is posing as a fake FairMoney customer service agent who reaches out to you pretending to help you resolve an issue and, while at it, requests certain specific personal information.

They often ask for:

  • Your BVN (Bank Verification Number)
  • Your bank details (Account number & name)
  • Your FairMoney password
  • The OTP Code sent to you via SMS

It is important to know that a FairMoney agent will never ask you for this information. 

The only information you may be asked to provide is:

  • Your Phone number 
  • The email address you registered on your FairMoney account 
  • Your FairMoney User ID

There are also cases where you are promised a loan upgrade. More often than not FairMoney customers make enquiries on social media about how to get increased loan limits. The fake FairMoney agent cunningly reaches out to the customer and asks the loan amount he or she wishes to be able to borrow. Once there is an agreed loan amount, the unsuspecting customer is then asked to submit their account details since the loan will be paid into their bank account. These actions are false and not what to expect from an interaction with a FairMoney customer service agent. 

These fraudulent practices have been around for years with fraudsters targeting customers by posing as different financial platforms. It is important to understand how they work to help protect yourself.

At FairMoney you are not required to pay before accessing our loans. All you need to do is download the app, log in and apply for a loan for free. 

To increase your loan limit, it is recommended that you keep the FairMoney app on your phone, use it regularly and repay your loans promptly. You can also increase your loan limit by frequently paying your cable TV bills or buying airtime and data.

Key things to always remember:

  • Do not reveal sensitive information about yourself, which includes your BVN and the details of your ATM card. 
  • Never give your OTPs and passwords to a stranger.
  • Everything you need to use our service is available on the app. 

If you need to make enquiries or resolve an issue, you can shoot an email to help@fairmoney.ng or call our Customer Service Hotline on 01 631 6097 (9am-5pm, Mon-Fri). Keep yourself abreast of information about FairMoney by following us on social media: Facebook, Twitter and Instagram.