TERMS OF USE FOR THE ZIMBABWE MONEY TRANSFER SERVICE

Transcription

1 1 TERMS OF USE FOR THE ZIMBABWE MONEY TRANSFER SERVICE These Terms of Use will apply to you, if you use the Zimbabwe Money Transfer Service ( Service ). They form a legally binding agreement between you and First National Bank,a Division of First Rand Bank, and explain your and FNB s legal rights and duties to each other when you use the Zimbabwe Money Transfer Service. You must read these Terms of Use carefully, and contact us on should you have any queries. By using the Zimbabwe Money Transfer Service, you accept that these terms apply to you. These Terms of Use must be read with the FNB General Terms and Conditions that governs your banking relationship with FNB, including but not limited to the FNB transactional Account Terms and Conditions and the Remote Banking Agreement that governs your use of our digital banking channels. Due to changes in legislation, or to our services and products, we may amend the content of the Terms of Use from time to time. Whenever you use the Service, you must make sure that you have read the latest Terms of Use which is always available on our website: or at any of our FNB branches. What is the Service? The Service is a Send Service and a Collection Service. If you have a qualifying transactional FNB account in South Africa ( Sender ), you can use the Service to Send Money to a resident in Zimbabwe, who holds a valid Zimbabwe identity document, ( Recipient ). The Recipient will be able to collect the money using the Collection Service at participating OK Zimbabwe Ltd. Stores ( OK ). How does the Send Service work? To use the service, you must: 1. Hold a qualifying transactional FNB account. 2. Be registered for either FNB Cellphone Banking, FNB Online Banking or the FNB App, or all 3. Be registered to receive incontact messages. Once we have accepted your Send Money to Zimbabwe instruction, you will receive a SMS and/or setting out: 1. the Amount you have sent in Rand; 2. the Recipient s Cellphone Number; and 3. a Unique Reference Number ;

2 2 Reversal of Transfers You may request that we reverse a transaction, but it is at our discretion to do so. To request a Reversal, you must contact our Call Centre on A reversal is only possible if the funds have not been accessed by the Recipient. If the Recipient has already been paid out, the Zimbabwe Money Transfer cannot be reversed. Reversal requests will be processed within 3 (three) working days from when the reversal request was received. If the reversal is allowed, the transaction fee for sending the money will not be refunded. What are my responsibilities in using this Service? 1. If you do not receive the abovementioned SMS or , you must immediately contact our Call Centre on You must keep the abovementioned sms/ safe If you Allow an authorised user access to the above-mentioned sms/ , it might cause loss and damages to you, and we will not be responsible for any such losses or damages. 3. You must ensure that the Recipient information is correct. FNB cannot be held liable where the Sender has sent the unique reference number to an incorrect recipient. Should any dispute arise between the Sender and Recipient, FNB cannot be held responsible to resolve the dispute. This also applies to any third party product service providers. How much money will I be able to send using the Service? Your daily money transfer limit is R1 500 on Cellphone Banking and R3 000 on Online Banking or the FNB App. The combined maximum amount you can send is R3 000 daily and R monthly. This limit includes prepaid airtime, prepaid electricity purchases and send money to ewallet. Your monthly money transfer limit is R If you use Cellphone Banking, Online Banking or the FNB App, there will also be limits which apply, which you agreed to when you registered to use this Channel. What does the Service cost? We charge transaction fees based on the amount you wish to send. We will debit the Sender s FNB transactional account with the relevant transaction fee each time you use this service. These transaction fees are set out in our pricing guide which can be found on our website: or you can ask for a copy at any of our branches. These fees may change from time to time. The Recipient will not be charged a collection fee. When using this service, standard mobile network operator fees apply for calls and messages.

3 3 How does the Collection Service Work? The Sender must inform the Recipient that the money has been sent and that it can be collected at the money transfer counter at participating OK Zimbabwe Ltd Stores. The Sender must notify the Recipient of the following: The Recipient to take a valid Zimbabwe identity document to prove their identity.. The Sender must also provide the Recipient with the unique reference number we send to the Sender by SMS/ The amount in Rand that you have sent to the Recipient Your Recipient is responsible for providing all the correct information to the OK Zimbabwe Ltd Stores in order to collect the money sent. If the money is not collected within 14 days after we have confirmed that it has been sent, the money will be automatically returned to the Sender s FNB transactional account. The Sender will still have to pay the transaction fee for sending the money. Please be aware of the following restrictions on collection of money sent: We may refuse to allow the money to be collected if we reasonably believe that: (a) by doing so we might break any law, regulation, code or other duty that applies to us; (b) doing so may expose us to action from any government regulator; or (c) it may be linked with fraudulent or illegal activity. South African Reserve Bank Cross Border Foreign Exchange Rules You must only use this Service if, the transfer is in accordance with the South African Reserve Bank cross border foreign exchange transacting reporting system which allows for the following.: - Category 401(Money sent as a gift); and/or Category 417 (Money earned as an employee) as detailed below By proceeding with the Service, you confirm: A. Your responsibilities as a South African resident, reporting under Category 401 are: (Gifts) You are 18 years or older and a permanent resident of South-Africa You hold a South African Identity book or Smart ID You are allowed to send up to R1 million each year out of the Republic of South Africa which will form part of the single discretionary allowance (SDA) as prescribed by the South-African Reserve Bank (SARB). You agree that the amount that

4 4 you are sending using this service will not be more than this R1 million allowance. The amount of the allowance may be changed by the SARB from time to time; and You comply with any law or exchange control regulation prescribed by the SARB and other relevant Legislative bodies which sets out how much and under what circumstances you may send money out of South Africa. Transactions can be blocked or delayed if you or the Recipient do not obey the Laws OR B. Your responsibilities as a Foreign National, reporting under Category 417 are: (Compensation of employees) You are 18 years or older You are a temporary resident with the valid documents to prove that you rightfully live and/or work in the Republic of South Africa. Valid documents include Passports and Permits that confirms residential status in South-Africa You are allowed to send money out of South Africa during your stay in South Africa; but you must be able to prove where the funds came from. And the money you send out of South Africa must relate to the money that you earn in South Africa; You comply with any law or exchange control regulation which sets out how much and under what circumstances you may send money out of South Africa. Transactions can be blocked or delayed if you or the Recipient do not obey the laws; and We are required by law to report on funds that are being transferred or received. You agree that your information may be provided to certain Regulatory. Authorities like South African Revenue Service and / or the Financial Intelligence Centre, however reporting is not limited to these Regulators. Ending this agreement: We have the right to end this agreement at any time. In addition, we may also terminate/ suspend the service with or without notice in the following circumstances; if either Recipient or Sender uses the service for illegal, unlawful or fraudulent purposes. we are required by law to do so; you breach (break) any part of this agreement; we find it necessary to protect any of our interests. We have the right to end this agreement at any time, by providing you with 30 (thirty) day s notice of termination of the service as per the general terms and conditions of FNB which may be viewed at No agreement between FNB and a Recipient When you use the Zimbabwe Money Transfer service, you understand that there is no agreement between us and any recipient that you nominate to access the funds; this is the person to whom you send the money using the Zimbabwe Money Transfer service. We will not become involved in any dispute between you and any recipient or you and any third party product or service provider. Force Majeure

5 5 Should we be prevented from fulfilling any of our obligations due to an event or circumstance,whether natural or man-made beyond our reasonable control and where that event prevents or impairs us from performing our obligations pursuant to this agreement,these obligations shall be suspended to the extent that and for so long as We are prevented from fulfilling them. An event or circumstance shall be deemed to be beyond our reasonable control where we could not reasonable foresee, prevent, overcome or provide against the event. We will notify you of such event and we are completely prevented from fulfilling our obligations by the event of Force Majeure we will provide you with notice of immediate termination. Other Important Matters to Note: Risks and Liability You use this service at your own risk. We make no warranty of any kind about the service to you or any other person. FNB will not be liable to you or any Recipient for any loss or damage arising because of the service, unless such loss or damage arose because of FNB s gross negligence or intentional misconduct You indemnify FNB fully for all loss or damage the Recipient or any other person suffers because of your use of the service or because you did not fulfil your obligations under these rules. Your use of the Zimbabwe Money Transfer Service may be restricted or restrained where you have not fulfilled your obligations under these terms. FNB will not be legally responsible to you or any other person for any loss or damage suffered (whether direct or indirect) from notification messages not received due to any telecommunication Network Services are interrupted, suspended or cancelled, for whatever reason, having the effect of sms and/or delivery failure. Information sent over public networks may be subject to unlawful monitoring and interception. FNB is not liable for any unauthorised transactions that may happen as a result of using these public networks. You must provide FNB with the correct information when using the service; FNB is not responsible for any loss or damage you suffer if money is sent to the wrong Recipient. FNB provides a payment service and will not get involved with any disputes between yourself and any Recipient regarding any payments made. You are aware that the enforcement or transgression of national and foreign legislation, regulations and/or policies (including without limitation those dealing with money laundering; terrorist related activities and sanctions) in relation to this transaction may cause the bank or third parties loss or damage and you hereby indemnify and hold the bank harmless against any claim, demand, penalty or action against the bank that you or any other party may have against the bank as a result of such enforcement or transgression. FNB endeavours to stop or prevent any Criminal activities including money laundering and terrorist financing activities. FNB may implement measures it considers necessary, or as required by South-African and International law to counter these criminal activities. If the recipient s SIM card is illegally swapped and fraudulently used, we will not be liable for any loss or damage you or the recipient suffers.