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1 Getting started

When reading these terms and conditions, you should keep the following in mind:

1.1 Your agreement

The agreement between you and us regarding your participation in the programme is made up of:

• your application form;

• the disclaimer and privacy policy on our website at nedbankgreenbacks.co.za; and

• the terms and conditions of –

– your card account;

– the programme;

– your Greenbacks SHOP Card; and

– our spend and earn partners.

1.2 Important information

• We own, operate and manage the Greenbacks Programme and retain all intellectual property rights to the programme and it may not be used without our prior written consent.

• By participating in the programme you acknowledge that you have read, understand and agree to the terms and conditions of the programme.

• The latest terms and conditions are available on our website and must be read together with the terms and conditions in this document.

• If the terms and conditions in this document are in contradiction to the terms and conditions on our website, the terms and conditions on our website will apply.

• As a financial institution we have certain identification and authentication requirements, and your participation in the programme and the issue of the SHOP Card will be at our sole discretion.

• You agree that we may share some of your personal details with affiliate parties.

• The rule of construction that an agreement must be interpreted against the party responsible for its drafting or preparation will not apply to this agreement.

1.3 General

• Clause headings are for convenience only and terms are defined in the glossary at the end of this document.

• Any gender includes the other genders and the singular includes the plural.

• Any reference to a person includes a natural and juristic person, as well as the state.

2 More about the Greenbacks Programme

The following section explains how the programme works.

2.1 Joining the programme

• Join the programme by:

– visiting our website at nedbankgreenbacks.co.za; or

– calling our call centre on 0860 111 555.

• You may join only if:

– you have an eligible business or consumer debit, credit or cheque card; and

– your card account is in good standing.

2.2 Your Greenbacks account

• Your Greenbacks account may not have a debit balance, which means that you may never spend more Greenbacks than what are available in your Greenbacks account.

• You may link up to 10 eligible cards to your Greenbacks account at no extra cost to you, provided that the card accounts are in your name.

• No interest will accrue on your Greenbacks account.

2.3 Earning Greenbacks

• We determine the earn rate at which you earn Greenbacks, as well as the limit on the Greenbacks you can earn.

• We may change the earn rate and the limit on Greenbacks from time to time.

• If the earn rate or the limit on Greenbacks changes, we will let you know in advance.

• You may earn Greenbacks on certain promotions when you shop at an earn partner and/or when you buy certain products and services from us.

• As long as your card account is active and in good standing, your Greenbacks will never expire.

• If your card account is not in good standing (if it is suspended, dormant, in arrears, in collections or has a legal or fraud status), you will not earn Greenbacks.

• You may buy additional Greenbacks at a topup fee.

2.4 Calculating and allocating Greenbacks

• Your Greenbacks are calculated and credited to your Greenbacks account daily according to your eligible spend.

• We may debit your Greenbacks account with the relevant Greenbacks if a transaction is cancelled or reversed for any reason.

• Only consumer card clients may transfer Greenbacks between one another, for which we may charge a transfer fee.

2.5 Redeeming (using) Greenbacks

• You can see your Greenbacks balance and rand value on the Nedbank Money app or on the Greenbacks website.

• You may use your Greenbacks only if your card account is in good standing.

• If we allow you to use your Greenbacks when your card account is in arrears, it is in no way a waiver of our right to recover the amount owing.

• Once you have used your Greenbacks, it is final. You cannot cancel or change the transaction.

• The redemption rate of Greenbacks for different goods and/or services offered by our spend partners is available on our website, and we may change the redemption rate without notice.

• Our spend partners' prices may change and goods and/or services is subject to availability.

• We will let you know of special campaigns by SMS or email or through online communication on our website from time to time.

• If you redeem your Greenbacks to contribute to monthly bank charges, you may contribute only to your Nedbank debit, current or savings account.

• You may redeem Greenbacks for vouchers, but only in the name of the Greenbacks primary accountholder. We will not replace or refund lost vouchers.

• In the case of your death, insolvency or liquidation your Greenbacks will have no value and will expire.

2.6 Forfeiting your Greenbacks

• You will forfeit your Greenbacks immediately if − _

– your Greenbacks account becomes dormant;

– your Greenbacks account is closed;

– your behaviour is inappropriate or constitutes misconduct;

– you directly or indirectly made a fraudulent transaction;

– you breach any terms and conditions relevant to the programme; and/or

– you cancel your participation in the programme.

• If your Greenbacks account is reopened successfully, your forfeited Greenbacks may be credited to your account again.

2.7 Cancellation of your participation and closure of your Greenbacks account

• We may cancel your participation in the programme at any time by giving you written notice. You then have 30 days to spend your Greenbacks.

• You may cancel your participation in the programme by calling us on 0860 555 111 or by giving us written notice.

• We are not liable for any damage you or any third party may suffer if your participation in the programme is cancelled.

• If you close your last card account linked to your Greenbacks account, your Greenbacks account will be closed automatically.

• If your card account is not in good standing your Greenbacks account will be closed.

• If you do not earn Greenbacks for five months, your Greenbacks account will be considered dormant and we will closed.

• If your Greenbacks account is closed, it will not affect any instruction given to us that has not yet been carried out, unless in involves a fraudulent transaction.

2.8 Greenbacks account statements

• We do not email or post statements of your Greenbacks account.

• If your Greenbacks account is active, you can see your Greenbacks balance and rand value on the Nedbank Money app or our website.

2.9 Liability and indemnity

• When you redeem your Greenbacks, you release us from any liability to you.

• We are committed to ensuring that online transactions are secure. We may therefore investigate any damage or loss you may suffer as a result of fraud through our website or our call centre.

• You must keep your password, PIN and Greenbacks membership number secret. If this information has been jeopardised, we will not be liable for any loss or damage you may suffer as a result thereof.

• Although we carefully select our spend partners, you carry the risk of any fraud, loss or damage that may occur through their websites and call centres.

• Spend partners are not our agents and we will not be liable if a dispute arises between you and a spend partner in respect of goods or services purchased.

• We will not be liable for any loss or damage you may suffer because we have carried out your instruction or because you have participated in the programme, unless the loss or damage has arisen from our negligence or intentional misconduct.

• If, for any technical reason beyond our control, there is any loss of connectivity between you and us, including unavailability of the programme, will not be liable to you.

• We will not be liable for any acts or omissions by third parties, including an internet service provider, a telephone provider or spend partner relating to the use of the programme.

• We will not be liable for any consequential, incidental, special or direct damage or loss resulting directly or indirectly from these terms and conditions or your participation in the programme.

• You indemnify us against any claims by third parties or losses you may suffer because you have participated in the programme.

• Our spend partners' websites may be linked to our website, but we cannot control or make any representation as to the legal content of their websites. Therefore, we will not be liable for the information on spend partners' websites.

• We do not warrant, confirm or make any representations about the contents, products, services or reliability of any third party's business or its security practices and operations.

2.10 Complaints and disputes

• If you have a query or complaint, you must direct it to our call centre.

• We may institute action in any court of law with jurisdiction to obtain urgent interim relief or to collect outstanding debts due and payable to us.

• These terms and conditions are governed by and interpreted in accordance with the laws of South Africa.

2.11 Notices and legal documents

• The residential address you gave us at the time of your application and that you may update from time to time, is your chosen address for the hand delivery of any legal documents to you.

• You may not send us any notice or legal document by email.

• In terms of Chapter 3 of the Electronic Communications and Transactions Act, 25 of 2002, by visiting our website and/or communicating with us by electronic means, you acknowledge that all agreements, notices, disclosures and other communication we send you satisfy all legal requirements, including the requirement that the communication must be in writing.

• Any other communication we send you may be send by the communication method you have chosen on the application form. If you want to, you may change your preferred communication method.

2.12 Things to remember

• Apart from the fact that it is possible to link an instruction to a specific account, it is impossible to verify the actual originator of the instruction.

• With this agreement you authorise us to action any instruction purporting to come from you, even if both you and us have been defrauded by someone else, unless you have informed us otherwise before actioning the instruction.

• No failure, delay, relaxation or concession on our part in exercising any power or right we have under these terms and conditions will be a waiver of our power or right. Such a failure, delay, relaxation or concession will also not be part of these terms and conditions.

• You may not cede, delegate or otherwise transfer any rights or obligations arising from these terms and conditions without our prior approval, and approval will be given at our sole discretion.

• If any of these terms and conditions are found to be invalid or unenforceable, the remaining terms and conditions will still be valid. We may vary and update all terms and conditions relating to the programme.

3 More about the Greenbacks SHOP Card

The following section explains how the SHOP Card works.

3.1 General

• Once your Greenbacks account has been opened, you will receive your SHOP Card, which will give you access to your account.

• As soon as you receive your SHOP Card, you must sign it in the space provided.

• If you do not want your SHOP Card, do not use the card, destroy it immediately and let us know in writing.

• If we allow a SHOP Card transaction after your SHOP Card has expired or has been cancelled, it does not mean that we have extended the validity of your card. You remain liable for paying the amount owing relating to the transaction.

• A Greenbacks accountholder with a corporate card cannot get a SHOP Card.

• We own the SHOP Card. When your Greenbacks account is closed, you must give the SHOP Card back to us or to any person who is authorised to act on our behalf.

3.2 Using your SHOP Card

• You can only use your SHOP Card if you have enough Greenbacks available.

• When you use your SHOP Card, you accept all the terms and conditions of the SHOP Card.

• If you use your SHOP Card outside the common monetary area (South Africa, Namibia, Lesotho and Eswatini), you must comply with the exchange control regulations.

• Card transactions made in foreign currencies will be reflected in South African rand on your statements.

• Your SHOP Card will have a PIN, which will allow you to withdraw your Greenbacks as cash or use your card to pay at compatible point-of-sale or online merchants.

• You will not earn any additional Greenbacks when you use your SHOP Card for point-of-sale or online transactions.

• If you believe there is an error regarding the amount deducted from your SHOP Card, you must let us know within 30 days of the date of the transaction by calling our call centre. You must indicate your SHOP Card number, the date and amount of the error, and describe the error and explain why you believe there is an error.

• With this agreement you authorise us (which authorisation may not be cancelled) to:

– pay for any purchase and/or service in respect of which your SHOP Card or your SHOP Card number has been used, and to debit the amount to your Greenbacks account; and

– make the necessary entries to do the above and to reverse these entries when appropriate.

• We will not be liable to you if any merchant or supplier does not accept your SHOP Card or your SHOP Card number, or if we refuse to authorise any SHOP Card transaction.

• If there are any claims or disputes between you and any merchant or supplier in respect of the nature, quality or quantity of any goods or services you obtained from a merchant or supplier or in respect of anything else, our right to receive payment from you will not be affected in any way, nor will it give anyone a right of setoff or counterclaim against us.

• No merchant or supplier is our agent, and if you do not receive the goods and/or services you have paid for, you must contact the merchant or supplier to attempt to resolve the issue.

• Disputes between you and a merchant or supplier do not give you a right to charge back the disputed transactions.

• If a merchant or supplier gives you a refund, it will be credited to your Greenbacks account only once we have received a credit voucher from the merchant or supplier.

• You may not stop any payment we are making or which we are about to make to a merchant or supplier in respect of any transaction, and you may not instruct us to reverse a payment in respect of a transaction that has already been made, unless provided otherwise by law.

• Unless you have reported your SHOP Card as lost, stolen or being used wrongfully, you will be liable for and must repay us all amounts we pay or have to pay if your SHOP Card, your SHOP Card number or your PIN is used.

• You may not use the SHOP Card for any unlawful or illegal transactions. It is your duty to make sure that a transaction is lawful before you use the SHOP Card.

3.3 Keeping your SHOP Card safe

• You must:

– take proper care of your SHOP Card and do everything necessary to prevent it from being lost, stolen and/or used wrongfully;

– keep your PIN secret; and

– ensure that any record of your PIN is kept separate from the SHOP Card in a safe place .

• If your SHOP Card is lost or stolen, you must let us know immediately by calling the number on the back of the SHOP Card. You will receive a reference number during your telephone call, which you must remember.

• You must confirm your verbal notification to us in writing, stating the reference number, within 24 hours.

• To get a new SHOP Card you must go to a branch with your identity document or passport.

3.4 Fees, costs, interest and other charges

• We may charge:

– purchase fees and ATM withdrawal fees, which may change from time to time;

– a SHOP Card replacement fee for a lost, stolen or damaged SHOP Card;

– fees for card transactions;

– statutory levies and taxes; and

– standard service and other fees and charges, including a dormancy fee and a returned-payment fee.

• To the extent that you are required to pay or reimburse any costs, fees, expenses or disbursements with regard to this agreement, you agree that it includes the payment or reimbursement of value-added tax, where applicable.

3.5 Card expiry and card account closure

• Your SHOP Card will expire on the date printed on the front of the SHOP Card.

• It is your responsibility to have your SHOP Card renewed before it expires.

• Your SHOP Card will be closed once your Greenbacks account has been closed, terminated or cancelled.

3.6 Liability

• We are not liable to you for any loss or damage you may suffer if:

– any person gained unauthorised access to your SHOP Card, your SHOP Card number, your PIN or any information in respect thereof; or

– any person gained unauthorised access to any information or data (whether correct or incorrect), unless the loss or damage was caused by our negligence.