Banking services

1. Lenz does not hold the money

Lenz is a financial technology product operated by Clive Alliance. Clive Alliance LLC provides the US dollar program. Clive Alliance provides the naira program. Neither company is a bank. Customer funds are not held in a Clive Alliance account, and they are not commingled with Clive Alliance’s own money. Each customer’s deposit account is an account in that customer’s own name at the partner below. This disclosure is effective 19 October 2026.

2. US dollar accounts

US dollar deposit accounts are provided by Column National Association (“Column N.A.”), Member FDIC. Column N.A. is a national bank. When a US dollar account is opened, the Customer becomes a customer of Column N.A. for that deposit. Lenz submits the business and its owners to Column, and Column decides whether to open the account.

Funds in an eligible Column N.A. deposit account are insured by the FDIC up to the standard maximum deposit insurance amount, currently $250,000 per depositor, per insured bank, for each ownership category, including any other deposits the Customer holds at Column N.A. Lenz is not the FDIC-insured institution. FDIC insurance does not cover a loss caused by the Customer’s own authorised payment, and it does not cover a balance that is not a deposit.

The US dollar account can receive ACH credits and wires, and can send ACH credits and domestic wires, once Column has opened it and the product shows the rail as available. Lenz does not originate ACH debits against a Column account. International wires are offered only after Column approves that use for the program. Fees for a US dollar transfer are shown on the confirmation screen before the Customer sends.

Column’s own account agreement and privacy notice are presented before the account is opened and govern the deposit relationship. If those terms and these Lenz terms differ on a question of the deposit itself, Column’s terms govern that question.

3. Naira accounts

A naira operating account is opened with a licensed Nigerian partner after Lenz approves the company. The partner is Zikora or SkyPay, and the one that holds the account is named on the account inside the product, together with the account number. Local transfers run on NIP. The partner’s terms, presented at account opening, govern the deposit.

A company may also connect a bank account it already holds. A connected account stays at that bank. Lenz reads the balance and statement the Customer authorises. A debit from a connected account happens only under a mandate the Customer approves with that bank. Connecting an account does not move the deposit to Lenz or to Column.

4. What is not a bank deposit

• USDC. Where a USDC wallet is offered, it is a digital-asset balance, not a deposit at Column N.A. or at a Nigerian bank. It is not FDIC insured, not insured by the Nigeria Deposit Insurance Corporation, and not available as a claim against Column. USDC activity does not run through Column accounts.
• Dirham accounts. Not offered. The product says so until a partner is live.
• Lenz Intelligence fees and other fees in the Terms of Service are amounts the Customer pays to Lenz. They are not deposits.

5. How a payment moves

An authorised user prepares a payment. The Customer’s approval rules decide who must confirm it. Lenz reserves the amount on its ledger, sends the instruction to the partner that holds the account, and records the partner’s result. States stay distinct: pending, submitted, processing, settled, returned, failed, reversed, and restricted. A failed payment releases the reservation. Customer funds and Lenz’s own funds are never posted as one balance.

Lenz reconciles partner statements against its ledger and raises an exception rather than editing a posted entry. A correction is a reversal or an adjustment.

6. Availability and refusal

An account exists only after both Lenz and the partner approve the Customer. We may refuse an application, and a partner may refuse an application we were prepared to accept. The reasons we refuse a business are in the Acceptable Use Policy and the Business verification policy. A confirmed sanctions match is a mandatory refusal.

7. Statements and records

Transactions are available in the product. A statement can be exported from the product. Records of deposits and payments are kept for at least five years after the account closes, as described in the Privacy Policy.

8. Complaints about a deposit

Start with complaints@lenzfinance.com. The Complaints policy states the timetable and the escalation path to the Central Bank of Nigeria, to Column N.A., and to the Office of the Comptroller of the Currency.