ForKobo Withdrawal Processing Policy

The ForKobo Withdrawal Processing Policy ("Policy") outlines the procedures, timelines, and requirements for processing merchant withdrawals from ForKobo wallets to external payment methods.

This Policy ensures secure, compliant, and timely processing of all withdrawal requests while maintaining the highest standards of financial security and regulatory compliance.

This Policy applies to all ForKobo merchants who request withdrawals from their ForKobo wallet to external payment methods, including bank transfers, mobile money, PayPal, Wise, and other supported payment platforms.

To be eligible for withdrawal processing, merchants must:

• Have a verified ForKobo merchant account in good standing;
• Complete all required KYC and identity verification procedures;
• Have sufficient funds available in their ForKobo wallet;
• Provide valid and verified payment method details;
• Comply with all applicable anti-money laundering (AML) requirements; and
• Meet minimum withdrawal thresholds as specified in their account terms.

ForKobo supports the following withdrawal methods:

• Bank Transfer: Direct transfer to verified bank accounts in supported countries
• Mobile Money: MTN, Airtel, Vodafone, and other mobile wallet services
• PayPal: Secure online payments through verified PayPal accounts
• Wise: Global money transfers with competitive exchange rates
• Other Methods: Additional payment methods as approved by ForKobo

Withdrawal processing times vary by payment method and verification status:

• Mobile Money: Instant to 2 hours (for verified accounts)
• PayPal: 1-4 hours (for verified accounts)
• Wise: 1-3 business days
• Bank Transfer: 1-5 business days (depending on country and bank)
• First-time withdrawals: Up to 24 hours for additional verification

All withdrawal requests are subject to verification procedures:

• Identity verification using government-issued ID
• Address verification through utility bills or bank statements
• Payment method verification (bank account details, mobile number, etc.)
• Source of funds verification for large withdrawals
• Additional documentation as required by regulatory authorities

Verification requirements may vary based on withdrawal amount, frequency, and risk assessment. ForKobo reserves the right to request additional documentation at any time.

ForKobo implements comprehensive security measures to protect withdrawal transactions:

• Multi-factor authentication for withdrawal requests
• Real-time fraud monitoring and detection systems
• Encrypted transmission of all financial data
• Regular security audits and compliance reviews
• Automated risk assessment for suspicious transactions
• Manual review processes for high-risk withdrawals

Withdrawal fees and limits are determined by several factors:

• Payment Method: Different methods have varying fee structures
• Account Verification Level: Higher verification levels may have lower fees
• Withdrawal Amount: Larger withdrawals may have different fee structures
• Frequency: Regular withdrawals may qualify for reduced fees
• Geographic Location: Fees may vary by country and region

All withdrawal transactions are subject to ForKobo's Anti-Money Laundering (AML) and Know Your Customer (KYC) policies.

Compliance measures include:

• Transaction monitoring for suspicious activity patterns
• Source of funds verification for large transactions
• Sanctions screening against global watchlists
• Regulatory reporting as required by law
• Cooperation with law enforcement when legally required

ForKobo may place holds or suspend withdrawals in the following circumstances:

• Suspicious or unusual transaction patterns
• Incomplete or failed verification requirements
• Regulatory compliance concerns
• Disputed transactions or chargebacks
• Account security breaches or unauthorized access
• Violation of ForKobo's Terms of Service

In the event of withdrawal errors or issues, ForKobo provides the following resolution process:

• Immediate Notification: Merchants are notified of any errors via email and dashboard alerts
• Investigation Process: Our team investigates the issue within 24 hours
• Resolution Timeline: Most errors are resolved within 1-3 business days
• Refund Process: If funds are incorrectly deducted, they are automatically refunded
• Communication: Regular updates are provided throughout the resolution process

Merchants should contact support immediately if they notice any discrepancies in their withdrawal transactions.

If merchants have concerns about withdrawal processing, the following dispute resolution process applies:

• Initial Contact: Submit a support ticket through the ForKobo dashboard
• Review Process: Trust & Safety team reviews the dispute within 48 hours
• Resolution Timeline: Most disputes are resolved within 5-7 business days
• Escalation: Complex disputes may be escalated to senior management
• Documentation: All dispute communications are documented for transparency

This Withdrawal Processing Policy may be updated periodically to reflect changes in regulations, security practices, or operational requirements.

Merchants will be notified of significant policy changes via email and dashboard notifications. Continued use of ForKobo's withdrawal services after policy updates constitutes acceptance of the revised terms.

For questions or support regarding withdrawal processing, please contact:

ForKobo support operates 24/7 with standard response times of 2-4 hours for urgent withdrawal issues.