Your use of the MobiMoney Account is governed by the Agreement.
Your attention is drawn in particular to the clauses in the Agreement that could:
· limit Nedbank's (we, us our) or a third party's risk or liability;
· create risk or liability for you;
· compel you to indemnify us or a third party; and
· mean that you acknowledge a fact.
These terms and conditions are not intended to restrict, limit or avoid any rights or obligations you may have in terms of the Consumer Protection Act, 68 of 2008 (to the extent that this legislation is applicable).
1 USING YOUR MOBIMONEY ACCOUNT
You agree to the following:
1.1 You can have only one MobiMoney Account with us.
1.2 You will indicate how the MobiMoney Account is styled.
1.3 You must use the MobiMoney Account in a manner acceptable to us.
1.4 We will monitor the use of the MobiMoney Account for assessing compliance with and adherence to the Product Specifications.
1.5 If you no longer qualify for the MobiMoney Account, we have the right to move you to an account that you do qualify for. We will tell you before we move you to another account. The terms and conditions and fees for that new account will then apply.
1.6 We have the right to claim any difference in the fees applicable to the two accounts from you, from the date that you no longer qualify for the MobiMoney Account to the date of the move to the new account.
1.7 Your MobiMoney Account (including the money in it) cannot be assigned to any other person.
1.8 You authorise us to accept instruction by electronic means.
1.9 To perform any transaction on your MobiMoney Account you will need your cellphone number and a PIN as set out below.
1.10 You must keep your PIN secret and not disclose it to anyone.
1.11 MobiMoney Account transactions will be authorised using your PIN and unless we receive notice from you not to, we will accept all authorised transactions, even if they are actually made without your authority.
1.12 You can use your MobiMoney Account for the transactions listed in the menu.
1.13 You may not use the MobiMoney Account for any unlawful or illegal transaction. It is your duty to make sure that a transaction is lawful.
1.14 We reserve the right to reject a transaction in certain circumstances.
1.15 We may debit the account with the amounts of all items you authorise, whether the account is in credit or otherwise.
1.16 If a transaction cannot be completed, you will receive an error message explaining why.
1.17 We will display the fee for each transaction with the transaction and will deduct it from your MobiMoney Account along with the transaction. We will send you your new balance after the transaction by SMS.
1.18 Fees include applicable taxes. Any value-added tax will be indicated on your statement.
1.19 A transaction history of the past 10 transactions is available on the menu.
1.20 We will make regular account statements available to you.
1.21 You elect to receive electronic statements.
1.22 At our sole discretion we may levy an additional cost against your MobiMoney Account for paper-based statements, whether posted or obtained at any branch or through any self-service or digital channel.
1.23 We will pay no interest if you have a positive balance in your MobiMoney Account.
1.24 The information you give us about yourself must be accurate. You must notify us immediately if your details change.
1.25 You must tell us immediately if your SIM or phone is lost, damaged or stolen.
1.26 Use of an ATM, retailer platforms or other electronic device is at your own risk.
1.27 If illegal money (counterfeit banknotes or any other purported banknotes not accepted as legal tender in South Africa) or defective notes (dye-stained or mutilated banknotes where the serial number is illegible or defaced) are deposited into the MobiMoney Account, we reserve the right to reverse any value given to you for such dye-stained notes.
1.28 Your MobiMoney Account cannot be overdrawn.
2.1 There are different limits for different types of transactions.
2.2 If you have met all the bank’s regulatory requirements, there is no limit on any transactions. If you have not, the current MobiMoney Account limits are:
|Total daily debits||R2 000|
|Total daily credits||R24 000|
3 NEDBANK INSURANCE FUNERAL PLAN TERMS AND CONDITIONS
3.1 The terms and conditions of the Nedbank Insurance Funeral Plan we gave to you are incorporated in these terms and conditions.
3.2 What appears below is a summary of the Nedbank Insurance Funeral Plan and you must read it together with the terms and conditions of the Nedbank Insurance Funeral Plan.
3.3 Subject to the terms and conditions of the Nedbank Insurance Funeral Plan, the Nedbank Insurance Funeral Plan provides cover to all the members you have selected to be included in the Nedbank Insurance Funeral Plan.
3.4 When you bought the Nedbank Insurance Funeral Plan, you selected the stop order as your preferred premium payment method.
3.5 You must ensure there is enough money to cater for the stop order in the account on the date you have selected every month to cover the full Nedbank Insurance Funeral Plan premium.
3.6 If there is not enough money in the account to cover the full Nedbank Insurance Funeral Plan premium, we will not take the premium from your account.
3.7 If the Nedbank Insurance Funeral Plan premium is not paid for two consecutive months and neither of the months is a grace month, the Nedbank Insurance Funeral Plan will lapse.
3.8 Once the Nedbank Insurance Funeral Plan has lapsed, you and none of the members will enjoy any benefits from the Nedbank Insurance Funeral Plan.
3.9 If the Nedbank Insurance Funeral Plan lapses or is cancelled for whatever reason, provided you have an active account, then you have the option to take out a new Nedbank Insurance Funeral Plan, but the waiting periods for the different categories of insured person will apply again from the date the new Nedbank Insurance Funeral Plan is taken out.
3.10 Any claim we pay out under the Nedbank Insurance Funeral Plan we will pay into a nominated beneficiary account as soon as we have received and verified the necessary information and documentation.
4 FREEZING, SUSPENSION, MODIFICATION, RESTRICTION AND TERMINATION
4.1 You may terminate this Agreement at any time without giving us notice.
4.2 We may freeze, suspend, modify or restrict your MobiMoney Account or terminate this Agreement immediately at any time without prior notice to you due to, including but not limited to, the following circumstances:
4.2.1 Our being compelled to do so by law.
4.2.2 Our having reasonable suspicion that the MobiMoney Account is being used for illegal, unlawful or fraudulent purposes.
4.2.3 Your conduct resulting in a breach of our regulatory obligations.
4.2.4 Your cellphone service provider removing your cellphone number from its network.
4.2.5 Your notifying us that your cellphone or SIM card has been damaged, lost or stolen or your PIN has been disclosed to any other party.
4.3 We will give you reasonable notice if we want to freeze, suspend, modify or restrict your MobiMoney Account or terminate this Agreement due to, including but not limited to, the following circumstances, as determined at our sole discretion:
4.3.1 Our being compelled to do so by law.
4.3.2 Reputational risks or operational/business reasons.
4.3.3 You no longer qualifying for the MobiMoney Account according to our Product Specifications.
4.3.4 Your breaching the Agreement.
4.3.5 Your breaching any other agreement with us.
4.4 We must comply with local and international laws, regulations, policies and requirements with regard to anti-money-laundering, counter-terrorist financing and sanctions. We may therefore continuously screen, verify, process and monitor all our and any related information, instructions and transactions effected by you and/or on your behalf. This may also result in your transactions or the use of your MobiMoney Account being prohibited, delayed, withheld, limited, declined or conditionally approved, your funds being confiscated and/or our relationship being terminated.
4.5 If your MobiMoney Account is frozen, suspended, modified or terminated, you will need to make alternative arrangements for any monthly debit and stop orders on the MobiMoney Account.
5 PRODUCT WITHDRAWAL/DISCONTINUATION
5.1 If it becomes uneconomical or commercially impractical for us to provide the product or service offered in terms of this Agreement or if we are unable to continue to provide the product or service, for whatever reason, we may terminate that product or service on reasonable notice to you.
5.2 We will give you information of comparable products.
5.3 If you do not select 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.
6 DORMANT ACCOUNTS
6.1 We are still entitled to charge fees on a Dormant Account.
6.2 Once an account is dormant, you will be able to perform only credit transactions on the Account and not debit transactions.
6.3 To lift the dormant status on the account you will have to contact the Nedbank Call Centre (NCC).
6.4 We may, after notification to you and at our sole discretion, close an account that has been dormant for such a period as we may determine from time to time.
6.5 We will give you 60 days’ notice that the dormant account will be closed.
6.6 Once the dormant account has been closed, no interest will accrue to the account.
6.7 Should you wish to claim any credit balance from a closed dormant account, you will have to call the NCC or any of our branches for guidance on the process.
7 PRIVACY CONSENT
7.1 You give us consent to process your personal information in relation to your applications for financial products and/or services with us, subject to our privacy policies and within the parameters of applicable laws. The processing will include, without limitation, conducting affordability assessments, credit scorings and any other profile building, that can assist us to appropriately allocate a product or service offering that is suited to your needs. The consent will also extend to us processing your personal information as we may deem fit for your and/or our legitimate interest.
7.2 You give us consent to process your personal information for the purposes of the maintenance of the MobiMoney Account subject to our privacy policies and within the parameters of applicable laws. The processing includes, without limitation, conducting affordability assessments, credit scorings and any other profile building, that assists us to appropriately allocate a product or service offering that is suited to your needs. The consent will also extend to us processing your personal information as we may deem fit for your and/or our legitimate interest.
7.3 You also give us the right to:
7.3.1 collect your personal information from third parties when reasonably necessary and/or if it is impractical to collect the data directly from you;
7.3.2 share your personal information with third parties if necessary, to provide financial products or services to you;
7.3.3 process your personal information for purposes of complying with any legislative or regulatory requirements;
7.3.4 transfer and/process your personal information outside the Republic of South Africa, where necessary, on condition that such transfer and/or processing is subject to applicable laws binding corporate rules or binding agreement;
7.3.5 process your special personal information (such as race, ethnic origin, biometric information or alleged criminal behaviour), only where necessary and subject to our privacy policies and applicable laws.
7.4 You have the right to:
7.4.1 request confirmation from us, free of charge, whether or not we hold your personal information;
7.4.2 request the record or a description of your personal information held by us;
7.4.3 request information about all third parties who have, or have had, access to your personal information;
7.4.4 correct or delete your personal information;
7.4.5 withdraw your consent at any time by providing notice to us;
7.4.6 object to your personal information to be held by us;
7.4.7 lay a complaint at the Information Regulator regarding your personal information in terms of the Promotion of Access to Information Act.
8 FEES AND TAXES
8.1 We will charge fees according to the prevailing Pricing Schedule, or as agreed with you. Such Fees will be debited according to the prevailing Product Specifications.
8.2 The pricing schedule that contains information regarding the Fees, is available at any branch or at www.nedbank.co.za.
8.3 You confirm that you have read and understood the Fees for your MobiMoney Account.
8.4 You must pay all Fees when due to us.
8.5 We are entitled, at our reasonable discretion to vary any Fees, or the items attracting Fees.
8.6 We will give you reasonable notification before Fees or items that attract Fees change.
8.7 Fees that attract value-added tax will include value-added tax, which will be indicated on your MobiMoney Account statement.
8.8 We will charge interest at the interest rate applicable to this agreement from time to time for any fees not paid on or before the due date for payment and this will not prejudice, restrict or in any manner detract from our rights after an act of default.
8.9 In addition, all amounts that we may pay or incur pursuant to this Agreement due to your default, including any amount actually disbursed by us, either when collecting any payment owing by you or when exercising any of our rights arising from any breach of your obligations in terms of this Agreement, as well as legal costs on the attorney-and-client scale (including tracing fees and any collection commission), will be payable by you to us on demand.
8.10 All applicable government levies in respect of the use of the MobiMoney Account will be debited to your MobiMoney Account monthly and paid over to the relevant government body.
9 LEGAL NOTICES
9.1 For all purposes under this Agreement, the Parties choose the following addresses as their respective domicilia citandi et executandi:
us: Nedbank 135 Rivonia Campus, 135 Rivonia Road, Sandown, Sandton; and
you: the last known physical address supplied by you.
9.2 Any legal notice to be served on any Party may be served at the address specified for such Party in this clause.
9.3 Legal notices will be valid and effective only if given in writing and delivered by hand or prepaid registered post.
9.4 Each party accepts that if they send a legal notice to the other party, unless the contrary is proved, the parties will consider it received:
9.5 on the date of delivery if delivered by hand, provided it was delivered to a responsible person during ordinary business hours.
9.6 within seven days of the posting date, if delivered by prepaid registered post, unless the contrary is proved.
9.7 Despite anything to the contrary in this clause, a written notice or other communication actually received by any party will be adequate written notice or communication to such party even if the notice was not sent to or delivered at the party's chosen address
9.8 A party may by written notice to the other party change its address for the purpose of this clause to any other address (other than a post office box number), provided that the change will become effective on the seventh business day after receipt of the notice.
9.9 It is your responsibility to ensure that we are kept informed of any changes to your personal information, including address and contact details.
Except where damage or loss is caused by our wilful misconduct or gross negligence (or any person acting for or controlled by us), we will not be liable to you for any damage or loss that you may suffer because:
10.1 your use of the Nedbank MobiMoney Account;
10.2 any action taken in terms of clause 3 or 4;
10.3 any person having gained unauthorised access to any information or data;
10.4 incorrect information was given to any person, including any credit bureau;
10.5 any loss or theft resulting from your use of an ATM or a retailer platform or other electronic device;
10.6 a delay, failure or malfunction of any ATM, self-service kisk other device (electronic or manual) that you use to carry out transactions on the account;
10.7 if you give your PIN to anyone else.
11.1 Before opening a MobiMoney Account, we are entitled to satisfy ourselves of your suitability as an accountholder.
11.2 You agree that we may combine any or all accounts you may have with us, without notifying you thereof. However, if we combine only some of these accounts, we will still have the right to claim from you any amount in respect of an account that is not part of the combined accounts.
11.3 The Agreement forms the whole agreement between us in connection with the MobiMoney Account.
11.4 We may amend the agreement and we will give you notice of any such amendments.
11.5 Any change of the agreement will not form a novation of the agreement or of any of your previous obligations to us.
11.6 No failure or delay by us or you in exercising any right or remedy under the agreement will operate as a waiver thereof. And any single or partial exercise of any right or remedy does not prevent any further or other exercise of that right or remedy.
11.7 If any provision of the agreement found by a court to be invalid or unenforceable, this will not affect the other provisions, which will remain in force.
11.8 The agreement will be governed in accordance with the laws of the Republic of South Africa and subject to the jurisdiction of the South African courts.
12 ALTERNATIVE DISPUTE RESOLUTION
12.1 We have a complaint process that is available through the NCC, any Nedbank branch or at www.nedbank.co.za.
12.2 If you have a dispute or a complaint regarding your Account, you will need to send us a written statement setting out the dispute or the complaint. We undertake to investigate your dispute or complaint within a reasonable time, keep you informed during the investigation and provide you with a final written response.
12.3 Should you not be satisfied with the response referred to above, you have the right to contact the Ombud for Banking Services and/or the Financial Sector Conduct Authority and/or the National Consumer Tribunal, using the details below:
Ombud for Banking Services
Tel: 0860 800 900
+27 (0)11 712 1800
34 Fricker Road, Illovo, Johannesburg
Financial Sector Conduct Authority
Tel: 012 428 8000
012 428 8012
080 020 2087
080 011 0443
Fax: 012 347 0221
Physical address: Block B, Riverwalk Office Park, 41 Matroosberg Road, Ashlea Gardens, Pretoria, 0081
Postal address: PO Box 35655, Menlo Park, 0102
National Consumer Tribunal
Tel: 010 006 0484
Fax: +27 (0)12 663 5693
Lakefield Office Park,
272 West Avenue, corner West Avenue and Lenchen Avenue North, Centurion
13.1 You warrant that you have fully and truthfully answered all questions and responded to requests for information by us relating to this agreement.
13.2 You confirm that you understand and appreciate the risks and costs inherent in this agreement, as well as your rights and obligations under this agreement.
14 INTERPRETATION AND DEFINITIONS
In these terms and conditions:
14.1 clause headings are for convenience;
14.2 unless the context indicates a contrary intention:
14.2.1 the singular includes the plural and vice versa;
14.2.2 any gender includes the other genders;
14.2.3 a natural person includes a juristic person and vice versa; and
14.2.4 any number of days will be calculated by excluding the first and including the last day, or where the last day falls on a day that is not a business day, the next business day.
14.3 Unless the context requires otherwise, the following words and expressions have the meanings set out hereunder
Your Nedbank MobiMoney mobile account linked to your cellphone number governed by the Agreement.
The agreement between the Parties as constituted by these terms and conditions, read together with the application, the relevant Product Specifications and Pricing Schedule (as amended from time to time) and any subsequent agreement with you pertaining to the Fees (as amended from time to time).
Automated teller machine.
An account on which no credit transactions were performed for a period we specified.
Charges, costs, service, transaction and administration fees, and any other amount payable by you to us in consideration for the Account.
The Nedbank Contact Centre, number 0800 555 111.
You and/or us.
Personal identification number.
Latest leaflet or any other source of information stipulating the items that attract Fees and, in addition, the corresponding Fees levied for such items and the effective date of the pricing.
Specific features of and disclosures relating to products offered by us, including minimum deposits, minimum balances, interest rates, costs, charges, fees and service fees.
Nedbank Limited, registration number 1951/000009/06, with registered address Nedbank 135 Rivonia Campus, 135 Rivonia Road, Sandown, Sandton, 2196, and postal address PO Box 1144, Johannesburg, 2000.
The applicant whose details are set out in the application.