Structured Saver
Competition terms and conditions
1. The promoter
Nedbank Limited, reg no 1951/000009/06 (we, us, our) runs this competition. We reserve the right to make it available only to clients who are members of our Greenbacks programme and have opted into the Structured Saver package.
2. Competition period
This competition runs indefinitely. Prize winners are selected each month.
3. Who can and cannot participate in the competition?
3.1 A participant (you, your) must:
3.1.1 be 18 years or older;
3.1.2 have a valid South African identity document; and
3.1.3 ensure that your bank account is in good standing, which means that it must not be in arrears or handed over for legal collection.
3.2 Our employees, including temporary and contract employees, associated companies, agents, contractors and sponsors may not participate.
4. How to enter
4.1 To stand a chance to win the prize, you must, during the competition period:
4.1.1 open and pay money into any of the following Nedbank accounts (qualifying account)
4.1.1.1 a 32Notice Account
4.1.1.2 an Electronic 32Notice Account
4.1.1.3 a JustInvest Account
4.1.1.4 a Platinum Invest Account; or
4.1.1.5 a MoneyTrader Account.
4.2 The terms and conditions and minimum deposit requirements for each account apply.
4.3 To qualify for an additional prize you must set up a monthly recurring payment (debit or stop order) to pay money into your qualifying account.
4.4 You must then opt in to the Greenbacks Structure Saver package.
4.5 You can increase your number of entries per qualifying account based on your Greenbacks level as follows:
4.5.1 Level one gives you one entry.
4.5.2 Level two gives you two entries.
4.5.3 Level three gives you three entries.
4.5.4 Level four gives you four entries.
4.6 To increase your Greenbacks level, you can opt in to any of the following packages: Card Swiper; Structured Saver; Money Manager; and Responsible Borrower. Opting in to:
4.6.1 one package increases your level to one;
4.6.2 two packages increases your level to two;
4.6.3 three packages increases your level to three;
4.6.4 and four packages increases your level to four.
5. The prize
You (one participant) stands a chance to win R30 000 in cash every month, and if you set up a monthly recurring payment (a debit or stop order) to pay money into your qualifying account, you also stand a chance to win another R20 000 in cash every month.
6. Selection of the winners
6.1 The random computer-generated draw to select the winner will take place on or about the 24th of each month via a Skype or Microsoft Teams meeting, which will be recorded.
6.2 If you win, the following applies:
6.2.1 You will receive the prize only once we have verified and confirmed your details, including your compliance with these terms and conditions.
6.2.2 We will call you, send you an SMS, or email you, using your contact details that we have on record within five business days of the draw date.
6.2.3 We will pay the money into your qualifying account via an electronic funds transfer (EFT) within 30 days after the draw.
6.2.4 We will not give or transfer the prize to anyone else.
6.2.5 If you have won, you can enter the competition again, but only after six months.
6.2.6 We will not be responsible for any technical failures affecting your participation in the competition or if your entry has been left out from participation.
6.2.7 If a dispute arises, our decision will be final and binding on all aspects of the competition, and we will not discuss the matter further.
6.2.8 We will not be liable for delays or failure to deliver any part of the prize resulting from acts beyond our reasonable control. We will let you know you as soon as reasonably possible if your prize is affected in this manner.
7. General
7.1 All the information about the competition, including information that is published on any competition material, is part of these terms and conditions.
7.2 By entering the competition, you agree to be bound by these terms and conditions.
7.3 These terms and conditions are available on our website nedbank.co.za under Loyalty and Rewards throughout the competition period.
7.4 If you win, we may ask you to consent in writing to endorsing, promoting and advertising any of our services at no fee. You may decline this request, but we will still give you the prize.
7.5 By entering the competition, you acknowledge that your personal information needed for this competition will be shared with us and our agents, but only to the extent necessary for the competition. Your personal information will be used only in line with South African consumer and data protection legislation.
7.6 We may extend, shorten or cancel the competition immediately and without notifying you if the law permits it, if we must do so by law, or for reasons beyond our control. If this happens, you will give up any rights that you may have in terms of this competition and you will have no recourse against us, our agents, contractors and sponsors as a result of the extension, shortening or cancellation.
7.7 We and our directors, employees, agents and suppliers will not be responsible for any direct or indirect loss or damage resulting from your participation in the competition, or for any accident, injury, harm, damages, costs or death that you or any other person who participates in the prize sustains at any point during the fulfilment of the prize.
8. More information
For more information about the competition, send an email to LROpsSupport@Nedbank.co.za.