How To Use The Instant Money Service From South Africa To Zimbabwe

Transcription

1 Instant Money International terms and conditions ( Terms ) 1 Introduction 1.1 These Terms become effective when you use the Service. 1.2 You must know, understand and comply with these Terms. 1.3 Important clauses, which may limit our responsibility or involve some risk for you, will be in bold and italics or highlighted. You must pay special attention to these clauses. 2 Definitions 2.1 We have defined some words for consistency. These words will begin with a capital letter, where indicated. Singular words include the plural and the other way round. Word Bank, we, us, our BOP Form Meaning The Standard Bank of South Africa Limited with Registration Number 1962/000738/06 and its successors or assigns. A balance of payments form which a Sender is required, by law, to complete when purchasing foreign currency from us. E17 Customer Fee An Exemption 17 Account in terms of the Financial Intelligence Centre Act which account is held by a customer of the Bank which requires only that the customer to produce their identity document to open the account and among other restrictions, does not allow transfers of funds outside of South Africa. The fee charged by us to you for providing the Service. FICA The Financial Intelligence Centre Act 38 0f Merchants Receiver Reference Number Release PIN Sender Merchants in Zimbabwe who offer the Service to Receivers. Person who receives money from you via the Instant Money International Service. The transaction reference or identification number issued by SMS to the Sender. A personal identification number which is selected by the Sender and communicated to the Receiver to confirm the transaction and allow the Merchant to pay out. Person who sends money using the Instant Money Service from South Africa to Zimbabwe. Page 1 of 6 13 February 2013

2 Sent Money Service SMS South Africa you / your Zimbabwe The money sent by a Sender to a Receiver converted from South African Rand to United States Dollars, excluding the Fee. The Instant Money international service, as described in this document. A short message service data message sent to a cell phone. The Republic of South Africa. A Sender or Receiver or both, depending on the context. The Republic of Zimbabwe. 3 The Service We provide the Service through participating Merchants. The Service enables you to transfer money to Receivers. 4 Use of the Service You can use the Service to transfer money from South Africa to Zimbabwe. Senders and Receivers must be natural persons. 5 Sending money with the Service 5.1 The Sender must a customer of the Bank that has internet banking as a channel via which you can transfer money to the Receiver in Zimbabwe. 5.2 An E17 Customer will be prohibited from using the Service in terms of FICA. 5.3 You will only be allowed to transfer up to a maximum of R1, (one thousand Rand) per transaction to the maximum of R (ten thousand rand) per calendar month using the Service The Sender must complete a BOP Form which will be pre-populated with your details that we hold on our system, you will need to complete the rest of the BOP Form by providing the following information to us when using the Service: the full name of the Receiver; the physical address of the Receiver in Zimbabwe; the cellphone number of the Receiver if the Receiver has one; Page 2 of 6 13 February 2013

3 the amount of money that you want to send to the Receiver; and information about where the Sent Money comes from. 5.5 You will be required to confirm that the details which have been pre-populated and the details provided in completion of the BOP Form are accurate. You will then be required to accept the declaration and our disclaimer. 5.6 The Sender must make sure that the information that they complete on the Internet Banking website is correct. If the Sender gives the wrong information to the Bank or the Recipient, then neither the Bank nor the Merchant are liable for losses or damages which either the Sender or the Receiver or both may suffer. 5.7 The information provided by you in 5.4 will be sent by us to the South African Reserve Bank and to the Financial Intelligence Centre as required by law. 5.8 After providing all the information in 5.4 above, you will be provided with a breakdown of: the amount of money chosen by you to be sent to the Receiver converted from South African Rand to United States Dollars; the exchange rate used in converting the amount of money chosen by you to be sent to the Receiver converted from South African Rand to United States Dollars; and the Fee payable; the total amount that will be debited from your banking account (including the Fee) in South African Rands; and the Sent Money to be received by the Receiver 5.9 You are then required to accept the exchange rate offered by our system and agree to that exchange rate applying to the transaction A Sender may send a maximum of R1, per transaction to a maximum of R per calendar month We will debit the amount of money that you want to transfer to the Receiver together with the Fee charged by us. The Receiver will only get the Sent Money. The Sent Money will not be deposited into the Merchant s account. Page 3 of 6 13 February 2013

4 5.12 The Sender must choose a secure Release PIN for the transaction The Receiver will receive notification of the transaction Reference Number on the cell phone number provided by you when the transfer has been completed successfully. You must give the Receiver the Release PIN for the Receiver to redeem the Sent Money If the Receiver does not have a cell phone, you must give the Receiver the Reference Number and the Release PIN. Both you and the Receiver should keep the transaction Reference Number and Release PIN a secret We will record the payment on your internet banking profile and provide you with an on screen receipt which the Sender must keep for record purposes ( Send Receipt ) The Sent Money must be collected within three years from the date of transfer. You must tell the Receiver about this three year limit If the Receiver does not collect the Sent Money within three years or if the Receiver is unable to show the required Reference Number and Release PIN referred to in these Terms, then you may: stop the transfer by going to the nearest Bank branch or contacting the Instant Money International Call Centre and providing the required documentation and requesting a stop payment; and ask for a refund of the Sent Money We will refund the Sent Money to you: less or plus, the amount lost or gained in converting the Sent Money from United States Dollars to South African Rand; and less a fee The Fee paid to us will not be refunded. 6 Receiving money with the Service 6.1 Where you receive Sent Money, you must collect the Sent Money: at the place of business; and during the business hours, Page 4 of 6 13 February 2013

5 of the Merchant. 6.2 To collect the Sent Money, you: must give the Merchant the transaction Reference Number; and enter the correct Release PIN on the Merchant s device. 6.3 If you give the above information to the operator of the Merchant, the Sent Money will be paid by the Merchant to you in cash in United States Dollars. 6.4 You must collect the Sent Money within three years from the date of the transfer. 7 Disclaimer The Sender and Receiver use the Service at their own risk. The Bank s and the Merchant s liability for any loss or damage, delay, non-delivery, non-payment of money transferred, no matter how it is caused, shall be limited to the amount of the Sent Money and the Fee paid by the Sender. Neither the Bank nor the Merchant accept liability for delays in the Service caused by circumstances beyond the control of either the Bank or the Merchants or both. Neither the Bank nor the Merchant may be held liable for indirect damages no matter how they are caused. 8 Personal information 8.1 Both the Bank and the Merchant will use the information given by the Sender to perform the Service. The Bank may store the Sender s personal information on their databases for administration purposes and to comply with applicable laws. 8.2 The Sender may ask us to correct mistakes in the information. 8.3 We may share the information with companies within our group and with Merchants strictly to process the transfer. We will not share any personal information with third parties, except with the Sender s permission or as allowed or needed by the law. 9 General 9.1 We may change these Terms at any time and will notify you in writing of any amendments. A change will not cancel these Terms. 9.2 You may not vary these Terms. Page 5 of 6 13 February 2013

6 9.3 South African law governs these Terms. 9.4 Transfers of Sent Money will be reported in accordance with applicable laws and regulations. 9.5 You agree that you may be sued in terms of these Terms in the Magistrates' Court, even if the claim against you exceeds that court s jurisdiction. 9.6 Any leniency or concession given to you will not affect any of our rights against you. 9.7 The invalidity, illegality or unenforceability of any of the clauses of these Terms will not affect the validity, legality and enforceability of the remaining clauses of these Terms. 10 Further information and complaints 10.1 If a Sender or Receiver: requires a list of all the Merchants in Zimbabwe; requires a copy of these Terms; has a problem with the Service that and in respect of the Receiver this could not be solved by the Merchant; or wants to lodge a complaint/dispute and in respect of the Receiver this that could not be solved by the Merchant, contact us using one of the following: call +27 (0) 860 IMONEY (+27 (0) ); info@instantmoney.co.za/queries@instantmoney.co.za; or websites: and We are a member of the Banking Association of South Africa who have appointed an independent Ombudsman for Banking Services ( Ombud ) to deal with complaints. If we do not solve your problem, or if you are not happy with the way that your problem was solved, then you may use the services of the Ombud You can contact the Ombud using one of the following means: Telephone: + 27 (0) or +27 (0) Fax: +27 (0) info@obssa.co.za Website: Page 6 of 6 13 February 2013