Nedbank Money app

Terms and Conditions

1.     Introduction

1.1.      These terms and conditions are important and govern your use of the Nedbank Money app (app).

1.2.      You must read these terms and conditions together with the terms and conditions of:

1.2.1.     your Nedbank account(s); and

1.2.2.     any other Nedbank service channel or product that you use.

1.3.      Please pay special attention to the terms and conditions that could:

1.3.1.     limit the risk or liability of Nedbank (we, us, our) or that of a third party;

1.3.2.     create risk or liability for you;

1.3.3.     force you to indemnify us or a third party; and

1.3.4.     mean that you acknowledge a fact.

1.4.      We have the right to change the app terms and conditions and to replace, change or discontinue existing functionalities or services on the app on reasonable notice to you. We may also offer other digital services to you from time to time.

1.5.      The app terms and conditions are not intended to restrict, limit, or avoid any rights or obligations that you may have in terms of the Consumer Protection Act, 68 of 2008 (to the extent that the act applies).

2.     Disputes

2.1.      If there is a dispute about the app service, the app terms and conditions will apply.

2.2.      If there is a dispute about your Nedbank account or another Nedbank service channel or product, the terms and conditions of that channel or product will apply.

3.     Important things to note

3.1.      You must have the necessary device and software to download the app, and you will need data to load it.

3.2.      We have an arrangement with mobile network providers MTN, Vodacom, Cell C and Telkom to not charge you for data and airtime when you use the app (zero-rating service), except when:

3.2.1.     you use Google Maps to locate a Nedbank branch or an ATM or to find branch contact details;

3.2.2.     you use the Live Chat functionality on the app; and

3.2.3.     analytics are used for security and fraud-detection purposes or to track the stability of the app or user behaviour.

3.3.      Our arrangement with these mobile network providers applies only to users who use data and airtime via a network connection with these mobile network providers and does not apply to other internet connections.

3.4.      We keep the information anonymous, and use it for research and statistical purposes only. User details are not captured or tracked.

3.5.      Security

3.5.1.     Your Nedbank ID (your username and password or Nedbank card and PIN (Personal Identification Number)) that you enter when you register for or log in to the app will be used only for registering or login purposes. You must not disclose your Nedbank ID or Nedbank card and PIN details to anyone.

3.5.2.     For security purposes and to give you a better service, we will need your GPS (Global Payments System) location. If you do not want to give us access to your GPS location, we will use other methods to estimate your location for fraud-detection purposes.

3.5.3.     For your protection, we recommend that you increase your device security and ensure that you have the necessary anti-virus software installed on your device.

3.5.4.     Also activate a security password to prevent unauthorised people from accessing your device and the app.

3.5.5.     On certain devices you can use fingerprint ID verification (a Touch ID) instead of a password, enabling you to use your fingerprint to log in to the app. For your security, it is important not to allow other people access to your device by using their fingerprints. Anyone who can unlock your device with their fingerprint can then access your account, make payments, and give us instructions, and we will treat these transactions and instructions as if you have authorised them.

3.5.6.     While we will take all reasonable steps to apply appropriate security measures, your using the app and any other digital services may expose you to risk.

3.5.7.     We regularly enhance and update the app to ensure the best client experience. For these maintenance purposes, the app may sometimes be unavailable temporarily, but we will notify you when this happens.

3.5.8.     As more functionalities become available, we will ask you to authorise the use of these functionalities via the app.

3.5.9.     Approve-it messages

3.5.9.1.       You will receive Approve-it messages via the app to approve or decline transactions that you do on the app.

3.5.9.2.       If your notifications on the app is not enabled, you will not receive Approve-it messages.

3.5.9.3.       To receive Approve-it messages, your notifications on the app must be switched on, and you must be connected to Wi-Fi or have data on your device.

3.5.9.4.       If you do not receive your Approve-it messages, please consult your banker, call 0800 555 111 or visit a branch to update your details.

4.     Liability

4.1.      Where applicable and if you have granted your child access to the app, we will accept that you have given your child the necessary consent to perform the functions assigned to them in line with the app terms and condition, and we will not be liable for any loss or damage suffered, including fraud.

4.2.      Except where damage or loss arises directly or indirectly from our (or any person acting for or on our behalf) wilful misconduct or gross negligence, we will not be liable to you for any direct or indirect damage or loss that you may suffer because of the following:

4.2.1.     Your using the app.

4.2.2.     A person having gained access to any information or data.

4.2.3.     A direct or indirect compromise of your login details.

4.2.4.     Incorrect information having been given to us or to any person, including credit bureaus.

4.2.5.     A delay, failure, or malfunction of the app, for whatever reason.

4.2.6.     Your breach of the app terms and conditions.

4.2.7.     Your abuse of the zero-rating service via the app.

4.2.8.     Illegal access to or loss or corruption of your data.

4.2.9.     Your modification of or tampering with operating system software, browser software or any other software packages or programs on your device used to access the app.

4.2.10.  Any action taken in terms of clauses 6 and 7.

5.     Privacy consent

5.1.      Subject to applicable laws, regulations, and our privacy policies, you give us permission to process your personal information as we see fit for both your and our legitimate interest. This includes your race, biometrics, and alleged criminal behaviour (if necessary)

5.2.      You consent to us accessing your credit bureau data, obtaining your bank statements from your bank, sharing your information with third parties sharing information about your application with third parties, collecting your personal information from third parties, sharing information about your application with the Southern African Fraud Prevention Services and processing your personal information outside South Africa.

5.3.      Processing includes doing affordability assessments, credit scorings and profile building that may help us offer you a product or service that will suit your needs. You may ask for a description of your personal information that we have on record and for the details of third parties who have, or having had, access to your personal information.

5.4.      You may withdraw your consent by notifying us in writing. You may also ask that we correct or delete your information, object to us having had your information, and send a complaint to the Information Regulator.

6.     Suspension, modification, restriction, and termination

6.1.      You may stop using the app at any time without giving us notice.

6.2.      We may freeze, suspend, modify, restrict, or terminate your access to the app immediately at any time without prior notice to you due to certain circumstances, including the following: 

6.2.1.     Our being compelled to do so by law.

6.2.2.     Our having reasonable suspicion that the app is being used for illegal, unlawful, or fraudulent purposes.

6.2.3.     Your conduct resulting in a breach of our regulatory obligations.

6.3.      We will give you reasonable notice if we intend to freeze, suspend, modify, restrict, or terminate your access to the app due to certain circumstances, including the following:

6.3.1.     Our being compelled to do so by law.

6.3.2.     For reputational risks or operational or business reasons.

6.3.3.     If you no longer have a Nedbank account.

6.3.4.     If you no longer qualify for a Nedbank account in terms of our product specifications.

6.3.5.     If you no longer qualify for the app.

6.3.6.     Your breaching any of the app terms and conditions.

6.3.7.     Your breaching any other agreement with us.

6.3.8.     Your breaching any of the other service channel and/or product terms and conditions.

6.3.9.     Your doing anything (or allowing anything to be done) that we think may damage or affect the operation or security of the app.

7.     Product withdrawal or discontinuation

7.1.      If it becomes uneconomical or commercially impractical for us to provide the app service or if we cannot continue to offer the app service for any reason, we may terminate the app on reasonable notice to you.

7.2.      We will then give you information about similar products or services.

7.3.      If you do not choose an alternative product or service, we will be entitled to move you to a product or service that we identify as suitable for your needs.

8.     Lifestyle terms and conditions

8.1.      If you enter the Lifestyle section on the app, you acknowledge that you are participating in the value-added service that we offer. This service is called HeyNed, and is an interface of the Hey Jude digital assistance service, powered by Inzone Adlink (Pty) Ltd and/or PLP SA (Pty) Ltd (IA-PLP).

8.2.      Before you can use the offerings and services available to you via HeyNed, you must accept the Hey Jude terms and conditions.

8.3.      By accepting the Hey Jude terms and conditions, you consent to us sharing your personal information with IA-PLP to facilitate your registration, and you acknowledge that you are using the services of IA-PLP via the Lifestyle section of the app.

8.4.      Any changes made to your personal details in HeyNed will not affect the information of your Nedbank accounts. 

8.5.      While the app is free in terms of data usage, the Live Chat functionality on the app and the interactions in HeyNed will require data at the rates that your mobile network provider charges.

8.6.      We give you access to the value-added service only and are not responsible for your user experience.

8.7.      All questions and complaints about HeyNed must be directed to IA-PLP using their contact details given on the app.

8.8.      If you want to cancel your HeyNed subscription, you must give notice, and it is your responsibility to ensure that your subscription has been cancelled. You can give notice by following the prompts under the More section in the app. If you do not cancel your subscription, the monthly fee will be deducted from your account until your subscription has been cancelled successfully. 

8.9.      If you are an existing Hey Jude subscriber and would like to use our HeyNed offering, you must first cancel your Hey Jude subscription. If you do not cancel it, you will be charged a monthly fee for both your Hey Jude and HeyNed subscriptions.

9.     Contact us

If you need more information or suspect fraud or unauthorised access to the app, call the Nedbank Contact Centre on 0800 555 111 or visit a branch.

10.  Alternative dispute resolution

10.1.   We have a complaint process that is available through the Nedbank Contact Centre, any branch or at nedbank.co.za.

10.2.   If you have a dispute or a complaint regarding the app, you must send us a written statement setting out the dispute or complaint. We undertake to investigate your dispute or complaint within a reasonable time and will keep you informed during the investigation. Once our investigation has been completed, we will respond to you in writing.

10.3.   If you are not satisfied with our response, you have the right to contact the Ombudsman for Banking Services and/or the Financial Sector Conduct Authority and/or the National Consumer Tribunal using the details below: