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Switch your salary R500 promotion

Terms and conditions

 

 

1. The offer

1.1 Nedbank will pay R200 into your transactional account every month for the duration of your credit agreement and subject to your meeting the monthly qualifying conditions set out below in clause 3.

1.2 The payment will be made into your transactional account on the 20th day of the month. If the 20th falls on a weekend or public holiday, the payment will reflect on the next business day.

1.3. A R500 as a once off cash back payment (promotional offer), will be paid into the transactional account, in the month, after the first salary/income has been deposited into the transactional account, e.g., if you switch your salary/income in August, you will receive the R500 once off in September.

 

2. General

2.1 This promotion starts on 14 July 2023 and ends on 30 June 2024 (promotion period).

2.2 This information must be read together with the terms and conditions for transactional account (current or savings) and the Nedbank Loan Agreement, i.e., your vehicle finance agreement or your personal loan agreement (credit agreement), which you have entered and signed. All agreements are collectively referred to as the ‘agreements’, where applicable.

2.3 If you settle your credit agreement early before its original expiry date and simultaneously take up the same type of credit agreement, for example if you settle your vehicle finance agreement and take up another vehicle finance agreement, you will continue to receive the offer, but only for the remaining period in terms of the first credit agreement. If you do not take up another credit agreement, this offer will terminate immediately, without notice to you.

2.4 If you restructure your credit agreement and extend the term, you will receive the R200 for the original term only and not for the portion of the extended term.

2.5 This offer is limited to one credit agreement even if you have multiple credit agreements with Nedbank. You can choose which credit agreement this offer will be applied to.

2.6 You will not receive this offer, if you have opted in for another similar offer or are receiving another offer, at Nedbank. In other words, you will only be able to receive one offer at any time.

2.7 You will qualify to participate in this offer if you have received an SMS and or an email and have been contacted by Nedbank and/or our agent.

2.8 Once you have been contacted by Nedbank or our agent, you will have 60 days to open a transactional account if you do not already have one. You must meet the monthly qualifying conditions set out below within 60 days from date of opening your transactional account or if you already have a transactional account, from the date of the communication.

2.9 Nedbank employees are excluded from this offer.

2.10 Nedbank reserves the right to change the terms and conditions of this campaign throughout its duration.

2.11 We will not be responsible for any technical failures affecting your participation in the promotion or if your entry has been left out from participation.

2.12 If a dispute arises, our decision will be final and binding on all aspects of the promotion, and we will not discuss the matter further.

2.13 All costs or expenses relating to the offer that have not been mentioned here are excluded.

2.14 We will not be responsible for any delays in your taking up the offer.

2.15 We will give the offer directly to you and not to anyone else.

2.16 We will not be liable for delays or failure to deliver any part of the offer resulting from acts beyond our reasonable control. We will let you know you as soon as reasonably possible if the offer is affected in this way.

2.17 We reserve the right to replace the offer at any time with another of similar commercial value.

2.18 By entering and participating in this promotion, you acknowledge that your personal information needed for the promotion will be shared with us and our agents, but only to the extent necessary for this promotion. Your personal information will be used in line with South African consumer and data protection laws.

2.19 We may extend, shorten, or cancel the promotion immediately and without notifying you if it is permitted by law, 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 promotion and you will have no recourse against us or our agents, contractors, or sponsors as a result of the extension, shortening or cancellation.

2.20 We or our directors, employees, agents or suppliers will not be responsible for any direct or indirect loss or damage resulting from your participation in the promotion, or for any accident, injury, harm, costs, or death that you or any other person who participates in the offer sustains at any point during the fulfilment of the offer.

 

3. Qualifying conditions

3.1 To qualify for this offer, you must ensure that you fulfil the monthly conditions below:

3.1.1 You must already have a transactional account, or you can open a new transactional account through one of the specified channels, i.e., at a Nedbank branch or through the Nedbank Contact Centre or our agent.

3.1.2 You must pay your instalment for your credit agreement via a debit order from your transactional account every month.

3.1.3 You must switch your salary/income, which must be R5 000 or more per month into your transactional account, every month.

 

4. Events of default

4.1 You will not receive the R200 if you default on any one or all the below conditions at any time. These conditions include the following:

4.1.1 If you close your transactional account.

4.1.2 If you cancel your debit order.

4.1.3 If your debit order is returned unpaid for any reason.

4.1.4 If a deposit R5 000 or more is not credited into your transactional account monthly for the period of your loan.

 

5. More information

For more information about the promotion call NCC CVM helpdesk on 0860 633 267.