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 [which may consist of your username, password, Nedbank card, PIN (Personal Identification Number) or biometric characteristics or any combination of these] 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 Positioning 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 For your protection do not video share, screen share or cast in screen sharing applications while operating on the Digital Channels.

3.5.7 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. 

3.5.8 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. 

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

3.6. Approve-it messages

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

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

3.6.3 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. 

3.6.4 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 Moneyapp 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 We are being compelled to do so by law.

6.2.2 We have a 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 We are compelled to do so by law. 

6.3.2 If there are reputational risks.

6.3.3 For operational or business reasons.

6.3.4 You no longer have a Nedbank account.

6.3.5 You no longer qualify for a Nedbank account in terms of our product specifications. 

6.3.6 You no longer qualify for the app.

6.3.7 You breach any of the app terms and conditions. 

6.3.8 You breach any other agreement with us. 

6.3.9 You breach any of the other service channel and/or product terms and conditions.

6.3.10 You do 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 after giving your reasonable notice and information about comparable services.

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

8. Address for notices 

8.1 The physical or email address that you gave us in the application, or the most recent address given to us is the address you choose as your domicilium citandi et executandi where we can deliver legal notices, orders, or other documents to you. 

8.2 Either party may change their physical or email address by notifying the other party via email. The email address to which you may send a change of address notification can be obtained from a branch or NCC. The change of address will be effective on the 5th Business Day after receipt of the email. 

8.3 A legal notice, order or other document will have been properly served when it has been sent by email or delivered to that party or sent by registered mail to that party’s last known address. If you have not informed us of a change of your email or physical address, we will continue to use the last address given, even though the information may be incorrect. 

8.4 You may send any legal notices, orders, or other documents to our domicilium citandi et executandi: 

Group Legal Counsel

Nedbank Group Legal 

Nedbank 135 Rivonia Campus, 135 Rivonia Road, Sandown, Sandton, 2196 

8.5 Unless the contrary is proved, any legal notice, order, or other document: 

8.5.1 sent by email to the chosen email address will be considered received on the date it was sent. 

8.5.2 delivered by registered mail, will be considered received within seven Business Days of the posting date. 

8.5.3 delivered by hand will be considered received on the date of delivery, provided it was delivered to a responsible person during ordinary business hours. 

8.6 If the date of delivery falls on a weekend or public holiday, the legal notice, order or other document will be considered received on the next Business Day. 

8.7 Any legal notice, order or other document received by a party will be adequate written notice or communication to that party, even though it may not have been sent to or delivered at the chosen address. 

8.8 It is your responsibility to notify us of any changes to your address and contact details. 

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. Complaints process and alternative dispute resolution

10.1 If you have a dispute or complaint regarding your account, you can call our Client Complaints Helpline on 0860 444 000 or email us at clientfeedback@nedbank.co.za. You will need to give us a written statement setting out the dispute or complaint. We will investigate your dispute or complaint within a reasonable time, keep you informed during the investigation, and give you a final written response.

10.2 If your dispute or complaint remains unresolved or you are dissatisfied with the outcome, please email us at complaintappeals@nedbank.co.za.

10.3 You also have the right to contact the National Financial Ombudsman and/or the Financial Sector Conduct Authority and/or the National Consumer Tribunal at any time using the details below: