Legal

Pouch Terms and Conditions

These Pouch Terms and Conditions ("Pouch Terms") govern your use of the savings feature ("Pouch") offered on Grey ("Platform," "Services"). They supplement, and should be read together with, our general Terms of Service and Privacy Policy. If there is a conflict between these Pouch Terms and our general Terms of Service on any matter specific to Pouch, these Pouch Terms will govern.

By creating or funding a Pouch, you agree to these Pouch Terms.

1. What is Pouch

Pouch is a feature that lets you set aside funds separately from your main Grey Wallet ("Wallet"), so your savings stay visually and functionally distinct from your spending balance. There are two types of Pouch:

• Regular Pouch — available now, does not earn interest.
• Interest-Based Pouch — described in Section 4 below. Coming soon.

2. Regular Pouch

2.1 No interest. Regular Pouch is a non-interest-bearing savings feature. It is strictly for setting aside funds and does not generate any yield, return, or interest of any kind.

2.2 Segregation from Wallet. Funds held in your Regular Pouch are kept separate from your Wallet balance and are excluded from spending activity on your Wallet (including card payments, transfers out, and bill payments) while they remain in the Pouch.

2.3 Supported currencies. You may open a Regular Pouch in US Dollars (USD), Euros (EUR), or British Pounds (GBP). We may add or remove supported currencies at our discretion.

2.4 Funding. You can fund your Regular Pouch from your Grey Wallet or through any other funding method we make available from time to time.

2.5 Withdrawals. You may withdraw funds from your Regular Pouch to your Wallet at any time. There is no lock-in period, restriction, or breaking fee for withdrawals. Withdrawn funds are credited to your Wallet balance.

2.6 No direct spending from Pouch. You cannot use funds in your Regular Pouch to make payments or cover expenses directly. To spend Pouch funds, you must first withdraw them to your Wallet.

3. Not a Bank Deposit

Pouch is not a bank account, deposit account, or savings account with a licensed bank. Funds held in Pouch are not covered by any government deposit insurance scheme, including the FDIC (United States), FSCS (United Kingdom), or NDIC (Nigeria), as applicable to your account. 

4. Interest-Based Pouch (Coming Soon)

We intend to introduce an Interest-Based Pouch as an optional feature for eligible Grey users saving in US Dollars (USD). Interest-Based Pouch is not currently available and nothing in these Pouch Terms should be read as an offer, commitment, or guarantee that it will launch, or as to when, in which markets, or on what terms it will be made available.

If and when Interest-Based Pouch becomes available, its own terms of use  including the applicable interest rate, how interest is calculated and accrued, any eligibility or regional restrictions, and any withdrawal conditions  will be published separately, and your use of that feature will be subject to your acceptance of those terms in addition to these Pouch Terms.

5. Eligibility and Compliance

Your use of Pouch must comply with all applicable laws in your jurisdiction. Pouch may not be available in all markets, and eligibility may depend on your account type, verification status, or country of residence. We reserve the right to restrict, suspend, or decline access to Pouch where required by applicable law or regulation, or where we reasonably believe use of the feature poses a legal, regulatory, or fraud risk.

6. Changes to These Terms

We may update these Pouch Terms from time to time. We will notify you of material changes through the Platform or by email before they take effect. Continued use of Pouch after changes take effect constitutes acceptance of the updated terms.

7. Contact

Questions about Pouch can be directed to support@grey.co