TymeBank Terms & Conditions

1.1. You are reading this document because you are interested in establishing a relationship with TymeBank (‘Tyme’). This relationship will mean Tyme is able to provide you with a set of bank accounts (‘Accounts’) and/or other products and services (‘Products’). The words ‘we’, ‘us’ and ‘our’ mean Tyme. The words ‘you’ and ‘your’ mean you, the person interested in opening Accounts with us or using our Products.

1.2. When you apply to open your Accounts or use any of our Products you are agreeing to start a legal relationship with us.  This document is the agreement between you and us (‘Agreement’) and it sets out the terms and conditions (‘Terms’) that will apply to your legal relationship with us.

1.3. The Agreement contains a lot of information. We will send the full Agreement to the email address you give us during your Application. The Agreement is also available on our website at www.tymebank.co.za.

1.4. It is important that you read and understand everything in this document before you agree to these Terms. Any term that is in bold print is very important. You must read the bold print very carefully.

1.5. If you agree to these Terms and use our Products, it means that you understand and accept everything in the Terms, including the important terms in bold print.

1.6. If there is anything in these Terms that you do not understand, please call us on 0860 999 119 as soon as possible to ask for more information. It is important that you do this before using our Products.

1.7. The Consumer Protection Act, 2005 (‘CPA’) controls these Terms. If anything in these Terms conflicts with what the CPA says, the CPA will apply.

2.1. If you want to enter into this Agreement:

• you must be 16 years or older
• you must have a valid South African identity number
• your photograph and fingerprints (‘biometric information’) must be on the Department of Home Affairs’ HANIS database
• your information must be available with a credit bureau

2.2 When you send your Application to us, and every time you give us any instruction about your Accounts, you confirm to us that the following information is true and correct, and that we can rely on this information:

• it is completely legal for you to accept these Terms, to transact with us, and to perform your obligations under these Terms;
• if you are acting for another person, they have given you permission to act for them;
• if you allow someone to act for you and do anything in relation to your accounts, that person also agrees with these Terms;
• you will not use our name or any of our trademarks or marketing material if you do not first get our written permission;
• you are above the age of 16;
• you have agreed to these Terms; and
• you have given us information which is true and correct, and we can rely on this information.

2.3 If any of the information in 2.2 above is not true and correct, we will not enter into the Agreement with you, or open Accounts for you, or provide you with our Products.

2.4 If we find out later that any of the information above was not true and correct, we have the right to close your Accounts, or stop you from accessing your Accounts or using our Products until you confirm to us that the information is true and correct. If any of the information you have given us changes, you agree to tell us about the changes as soon as possible using any of our Channels, that are available to you.

2.5. We will give you reasonable notice before closing your Accounts, or before stopping you from accessing your Accounts or using our Products, unless the law forces us to act immediately. ‘Reasonable notice’ means we will tell you before we do anything if this is possible in the situation.

2.6. If we decide not to open Accounts for you or not to let you use our Products, we will give you the reasons for our decision if you ask us for them. If you are unhappy with the reasons we give you, you can lay a complaint against us using the information we give you in the Complaints section.

3.1. We will always explain any changes to these Terms to you.

3.2. If we change these Terms in a way that benefits you and does not change any of your obligations, we will explain the changes to you when we make them.

3.3. If we need to change these Terms in a way that limits your rights or increases your obligations, we will explain the changes to you 30 days before they happen. You must review the changes and call us on 0860 999 119 immediately if you do not understand anything.

3.4 If you do not agree to the changes, you can close your Accounts or stop using our Products at any time. You will have to pay any amounts you owe on your Accounts when you close them.

3.5. If you continue to use Accounts or Products after we make the changes it means that you agree to the changes.

4.1. When you send your Application to us, and every time you use our Products, you will use one or more of our platforms (‘Channels’). The Agreement between you and us includes the terms and conditions (‘Channel Terms’) for the Channels you use.

4.2. In the future, you may start to use Products and Channels that were not part of your first agreement with us. If you choose to use additional Products or Channels, the Agreement between you and us will automatically include the terms and conditions for the additional Products or Channels.

4.3. If the additional terms and conditions conflict or clash with any of these Terms, the additional terms and conditions will apply to any Products or Channels you use.

5.1. You agree to pay the fees and charges (‘Fees’) for the Accounts or Products we provide to you, including monthly fees, and transaction fees. You also agree to pay any costs which we must pay when we perform our obligations under these Terms, including administration fees, commissions, and taxes. You can find information about our Fees and additional costs (‘pricing guides’) on our website at www.tymebank.co.za or by calling 0860 999 119.

5.2. You agree that we can charge any Fees and additional costs to you either immediately when you use a product or service, or once a month for the Products you used during the month.

5.3. You agree that we can take (‘deduct’) any Fees and additional costs you owe us directly from any Accounts you have with us.

5.4. We can change the Fees and additional costs we charge for your Accounts and Products. If we need to change or add any Fees or additional costs for your Accounts or Products, we will tell you about these 30 days before the changes happen, using the contact details you have given us. You must review the changes and contact us on 0860 999 119 immediately if you do not understand anything.

5.5. If you do not agree to the changes, you can close your Accounts or stop using our Products at any time. You will have to pay any amounts you owe on your Accounts when you close them.

5.6. If you continue to use our Products after we make the changes it means that you agree to the changes.

5.7. If you think the changes are unfair to you, you can lay a complaint against us using the information we give you in the Complaints section.

6.1. You agree that we can use your photograph and fingerprints (‘biometric information’) to check your identity using information from the Department of Home Affairs (‘DHA’). We will use a database called the Home Affairs National Identification System (‘HANIS’). We will only use the biometric information that you have given us.

6.2. You agree that we can use the information you have given us to check your identity and your credit rating by contacting your employer, other banks, or credit bureaus.

7.1. You accept that we must follow local and international laws to prevent money laundering, terrorism, and other organised crime.

7.2. You agree to give us any documents we might need to follow these laws and check the information you give us about yourself. If you do not give us these documents, we can refuse to open Accounts for you or let you use our Products.

7.3. You agree that we can report information about your Accounts to local and international regulators without telling you, if the law forces us to do this.

7.4. You agree that we can close your Accounts or stop you from using your Accounts and/or Products without telling you why, if we have reason to think that your Accounts are being used illegally or if you cannot give us all documents we need to check your information.

8.1. Events out of our control could cause a service interruption that stops you from accessing our Products or Channels for some time. Service interruptions can be caused by things like power failures or blackouts, system or network failures, wars, strikes, or natural disasters.

8.2. We do not have to let you know about service interruptions before they happen if we do not have enough time, but we will try to let you know before a service interruption happens if this is possible in the situation.

8.3. If a service interruption happens because of an event out of our control, our obligations to you will be suspended and we will not be responsible if we do not perform any of our obligations to you, for as long as any interruptions last.

8.4. You agree that we will not be legally responsible to you in any way because of any interruptions which were beyond our reasonable control.

9.1. When you submit your Application to us, you agree that you will give us instructions about your Accounts using electronic channels like telephone, email, apps, or our kiosk (‘Electronic Instructions’).

9.2. You agree that we do not need to contact you when we receive your Electronic Instructions.

10.1. You are responsible for paying all taxes that we charge you for using your Accounts or other Products we provide to you. This includes value-added tax (‘VAT’), which we must add to any Fees or additional costs we charge you. We are not responsible for letting you know about any changes in the law which affect the taxes that you pay or are due to pay.

10.2. You are responsible for paying any taxes that you owe to the South African Revenue Services (‘SARS’) because of any law. If law requires us to process any of these payments for you, you agree that we can make the payment from your Accounts. If your balance is not enough to cover this payment, you agree that you will pay back any amount which we pay to SARS for you.

10.3. You understand and accept that we may provide or disclose any of your tax information that we may have in our possession, to any relevant tax authorities or any party authorised to audit or conduct a similar control over us for tax purposes. You acknowledge that this tax information and information about your income paid or credited to you or for the benefit of your Account(s) may be reported to the tax authorities of the country where the income comes from. Those tax authorities may provide the information to the countries where you are resident for tax purposes subject to the relevant tax regulations.

10.4. If you need more information about taxes, you can contact SARS on 0800 00 7277.

11.1. If you breach any of these Terms, you agree to pay our legal costs on the scale as between attorney and client. This means that you will pay us the full amount that we must pay our attorneys. This amount can include any costs we suffer when we try to enforce our legal rights without going to court. The amount also includes the costs of taking you to court, settling our dispute with you, and enforcing a judgment awarded in our favour.

12.1. It is important that we can contact you about your Accounts or your use of our Products. When you submit your Application, you may give us information like your telephone number, email address, or postal address (‘contact details’).

12.2. You agree that we can communicate with you using any of the contact details you have given us. If any of your contact details change, you must tell us. You can tell us using any of our Channels that are available to you.

12.3. You agree that we will contact you using the latest contact details you have given us. If you do not tell us that your contact details have changed, we will not be responsible for information being sent to the wrong person.

12.4. If your contact details are not correct and we need to contact you, you agree that we can charge you for any costs we pay to find you.

12.5. We will communicate with you using the SmartApp wherever possible. There are times when we will send you messages by push notification, SMS, telephone, email, social media, or third-party websites – we will stick to your preference whenever we can.

12.6. If you don’t want to receive direct marketing messages from us, you can update your marketing preferences using the SmartApp, SMS, email, or Kiosk, depending on what Products you have with us.

13.1. If we need to send you any communication about these Terms (‘Notice’), including notices, consents, or approvals, you agree that we can use the latest contact details you have given us. You agree that we can give you any Notice by writing to you or speaking to you.

13.2. If you need to send us any Notice, you must use one of the following contact details:

• Physical address: Head of Compliance, TymeBank, 30 Jellicoe Avenue, Rosebank, 2196
• Email address: compliance@tymedigital.com
• Telephone: 0860 999 119

13.3. If we want to change any of these contact details, we are allowed to do this if we first write to you to tell you about the change. If any of your contact details change, you must tell us. You can tell us using any of our Channels that are available to you.

13.4. Any Notice sent by you or us will take effect when the other person (‘recipient’) receives it, or on the date specified in the Notice.

13.5. Unless you can prove that you did not receive the Notice, a Notice will be considered to be received by you in the following situations:

• when you actually receive the Notice, even if we sent or delivered it to an incorrect address or number;
• when the Notice is left at your last known home or work address;
• when we get confirmation that a message was sent to your phone number;
• one hour after we leave a telephone, mobile phone, or voice mail message for you; or
• one hour after sending an email to your email address.

14.1. You agree that we are not liable to you for any loss or damage you may suffer as a result of using any of our Products or Channels.

14.2. Tyme, our directors, employees, representatives, or agents will not be liable for any loss or damage caused to you or any other person because of something we do or do not do. This includes indirect, incidental, and consequential loss or damage.

14.3. We cannot list all the situations, but we will not be liable for any loss or damage as a result of (i) the consequences of an instruction; (ii) the proper completion of an obligation under these Terms; (iii) theft of any kind (including robbery, break-in or fraud); (iv) any deficient or forged documents; (v) not discovering any forgery or from any act associated with instructions provided by you; and (vi) the use of electronic equipment, fax or the postal service as a result of delay, theft, fraud, mistake, distortion, or duplication, or (vi) closure of your Account in any of the circumstances permitted in these Terms.

14.4. You agree that you will not hold us accountable for any loss you suffer in the situations listed in this paragraph.

14.5. You also agree to pay us for any damage, loss, costs, or expenses which we may suffer or incur as a result of you breaching any of these Terms, including (i) not having the required funds to complete any payment instructions; (ii) not providing the necessary funds following an instruction effected by you; or (iii) us receiving incorrect or unauthorised instructions from you and acting on such incorrect or unauthorised instructions, except where we have acted fraudulently or in bad faith in completing such instruction, in which case, our liability shall be restricted to any loss of interest.

15.1. When you complete your Application, and when you use our Accounts or Products, you accept that you will be giving us some of your personal information. Personal information is protected by law, including the Protection of Personal Information Act, 2013 (‘POPIA’).

15.2. We will keep any personal information you give us in a safe environment and take all reasonable steps to protect it. We have security procedures to make sure that:

• your personal information is always correct;
• your personal information is only used when necessary; and
• nobody can view or take your personal information without permission.

15.3. These security measures are detailed in our ‘Channel T&Cs’ which are available on our website www.tymebank.co.za.

15.4. When you complete your Application, you give us permission to use your personal information in the following ways:

• to check your identity
• to provide you with Products
• to create credit-scoring profiles
• to suggest other Products to you
• to prevent crimes like fraud, money laundering, or terrorism

15.5. When you complete your Application, you give us permission to share your personal information in the following ways:

• with regulators, law enforcement agencies, and government bodies when required by law
• with credit bureaus
• with fraud prevention agencies if you have given us false or incorrect information

15.6. We are required to share your personal information to SARS, the Financial Intelligence Centre (FIC), and to other regulatory bodies. To enable us to meet our obligations, you commit to inform us in writing:

• Should your contact information or address change.
• Within 90 days, should you become a tax resident in another country.

15.7. To help make sure that your personal information is safe and secure, you must keep your passwords and pins safe and secret.

15.8. When you send us any personal information and when we store your information, we encrypt it using appropriate security technologies and procedures. Encrypting makes it difficult for your personal information to be viewed or used without permission.

15.9. You have the right to ask us for details of the information we keep about you (‘data subject access request’) by emailing compliance@tymedigital.com or calling 0860 999 119. We will give you these details as quickly as possibly but always within 40 days.

16.1. If you start legal proceedings against us, we choose the following address for service of process, notice, or other documents:
Physical address: TymeBank Legal Department, 30 Jellicoe Avenue, Rosebank, 2196

16.2. If we want to change this address, we will give you reasonable notice.

16.3. You agree that if we start legal proceedings against you, we can use the latest address you have given us for service of process, notice, or other documents. If you want to change this address, you must give us reasonable notice.

16.4. Any address for service of process must be a physical address in South Africa.

17.1. We have the right to end this Agreement, close your Accounts, or stop you from using our Products or Channels at any time after we give you reasonable notice.

17.2. You have the right to end this Agreement by giving us notice in writing.

17.3. If you have Accounts with us and there is money in the Accounts when this Agreement ends, or if we are closing your Accounts, you will first be given the opportunity to clear the money from your Accounts. If you do not clear the money before the Account is closed, we will take the required steps to ensure it is made available to you by other means.

17.4. If there is an outstanding balance on your Account, we will request full payment for all transactions subject to any arrangements you have with us on your Account.

17.5. If this Agreement ends and/or we close your Accounts, you will not be able to use any bank cards we have given you. You must cut up your card so that nobody else can use it.

17.6. We have the right to end this Agreement, close your Accounts, or stop you from using our Products or Channels immediately in any of the following situations:

• local or international law forces us to
• your name is on any international sanctions list
• you breach any of the terms and conditions of our Agreement
• you use our Accounts, Products, or Channels to commit a crime, or we reasonably suspect that you have done this
• you use our Products or Channels to insult, threaten, or incite violence against others
• you provided us with incorrect or insufficient information during your Application
• you did not provide us with enough updated information

18.1. This Agreement is governed by South African law.

18.2. We and you agree to the non-exclusive jurisdiction of a South African Magistrate’s Court for any legal proceedings about this Agreement. This means that you or we can go to that Court even if the amount claimed is higher than the Court’s jurisdiction.

18.3. These Terms and any additional Product and Channel Terms are the whole Agreement between us.

18.4. If you or we do not always use all the rights we get from this Agreement, it does not mean that you or we have given up any rights. Not using a right cannot stop (‘estop’) you or us from claiming that right later if we go to court.

18.5. If any Term in this Agreement is illegal or unenforceable, that Term can be cancelled, but the other Terms will still apply.

18.6. We are allowed to cede any of the rights we get from this Agreement without your consent. This means we are allowed to transfer any of these rights to someone who is not us (‘a third party’) without getting your permission. You will then have to perform your obligations to the third party.

18.7. We are allowed to delegate any of our obligations under this Agreement without your consent. This means we are allowed to transfer any of our obligations to you to a third party without getting your permission. The third party will then perform our obligations to you.

18.8. You agree that you cannot cede any of your rights or delegate any of your obligations without first getting our permission in writing.

18.9. If we cede our rights to more than one other person, this could mean that more than one person will have a legal claim against you (‘splitting of claims’). You agree to this splitting of claims.

19.1. If you are not happy with our service, you can contact us to complain. You can make a complaint using any of the Channels available to you; our website or SmartApp, or you can call us on 0860 999 119. We will try to solve your complaint as quickly as possible.

19.2. If after 20 days we do not solve your complaint, or if you are not happy with the way we solve your complaint, you can make a complaint about us with the Ombudsman for Banking Services (‘OBS’). Making a complaint with the OBS is free.

19.3. For more information, please contact the OBS.

• Website: http://www.obssa.co.za/
• E-mail: info@obssa.co.za
• Sharecall: 0860 800 900
• Tel: 011 712 1800

20.1. The following terms and conditions (‘Banking Terms’) apply to the banking Products we provide to you.

20.2. You need to agree to these Banking Terms before you can use any of our banking Accounts or Products.

20.3. If there is anything in these Banking Terms that you do not understand, please call us on 0860 999 119 as soon as possible to ask for more information. It is important that you do this before using our banking Accounts or Products.

21.1. You can introduce yourself as a customer to Tyme through either our Web or Kiosk channels. The better we get to know each other, the more you will be able to do with your Tyme accounts.

21.2. We gather and confirm information when you start a relationship with us. Depending on how much we know about you, you will be given a relationship profile that restrict what you are able to do with your accounts. The relationship profile created for you will have personalised account limits and access mechanisms.

21.3. All our relationship profiles offer an EveryDay transactional account and a GoalSave savings account:

• EveryDay transactional account: this account has no monthly fees and allows you to do all cardless and electronic transactional services (electronic payments, cardless cash deposits, value added service purchases - electricity, mobile voice & data, SMS bundles, SendMoney and cardless cash withdrawal requests).
• GoalSave savings: this account allows you to have 10 different savings goals. Each goal has an interest reward rate that gets better the longer you save

21.4. We are required by the FIC to perform ongoing risk ratings on all our customers and may therefore change these limits or contact you to conduct an enhanced due diligence investigation.

21.5. [1] “Just met” relationship profile

• Relationship profile [1] can be set up by visiting our website, using our SmartApp, or visiting a Kiosk.
• If you want to join our loyalty programme, receive a customised debit card, or increase your account limits, you must visit one of our Kiosk in Pick n Pay (‘PnP’) or Boxer stores.
• We put these limits on how much you can spend or hold in your accounts:

21.6. [2] “Getting to know you” relationship profile

• Relationship profile [2] is available at Kiosks at PnP or Boxer stores.
• This relationship profile allows you to agree to join our Loyalty Programme. Your debit card can then be used to earn additional Smart Shopper points inside and outside PnP.
• The debit card also allows you to buy things at any Visa Merchant. You can also get cash back at tills and perform cash deposits at PnP and Boxer. You will not be able to perform international transactions with your debit card on this relationship profile.
• We put these limits on how much you can spend or hold in your accounts:

21.7. [3] “Good friends” relationship profile

• Relationship profile [3] can be set up by customers whose address can be verified at our Kiosks. This is a paperless process that can only be completed at the Kiosk.
• This relationship profile allows much higher limits on balances and spend:

22.1. If we give you credit or a loan, we must follow the National Credit Act, 2005 (‘NCA’). The NCA limits what we can do and gives you rights that we must respect. We will tell you about these rights when you take out credit or a loan with us.

22.2. If we give you credit or a loan, you agree to pay back the credit or the loan when we demand it.

22.3. You agree to pay interest at the rate we set on any credit or loan that we provide to you. We will give you reasonable notice of the interest rate before we charge you. We will give you enough time to think about the interest rate before you agree to any credit or loan. The interest rate we set will not be higher than the maximum interest rate allowed by the law, including the NCA.

22.4. You accept that we may change the credit interest rate you earn on our savings and investment products from time to time. These changes may happen when the South African Reserve Bank (‘SARB’) changes the ‘repo rate’, or at other times. We will give you notice of these changes on our website and by using the method you have chosen for us to communicate with you.

23.1. You agree that we can use the funds in any of your Accounts and all rights you may have against us to give us a preferred security interest. This means that if you owe any other person money, we will be paid first before they can be paid.

23.2. We have a right to set-off and to hold your funds as security so that we can settle any debt or any other obligation you owe to us. You agree to settle any indebtedness to us and pay any negative balances in your Account when we demand it.

23.3. You agree that we may set-off any amount outstanding, and we will only need to notify you once we have done this. We may not set-off any amount outstanding that relates to any credit agreement that is regulated by the NCA.

23.4. We agree to only set-off a reasonable portion of your funds. This amount will be determined by what is reasonable in the circumstances. If you cannot repay your debt, you should contact us immediately to see whether we can agree to an acknowledgment of debt and a reasonable repayment offer. If you need help understanding this process, contact us on 0860 999 119.

23.5. We will not be accountable to you for any losses that arise out of or relate to any transactions, including tax consequences you may face as a result of settling any debt owed to us.

23.6. In the event we set-off your funds to settle a debt, we reserve the right to restrict or close your Account, and to seek payment of any remaining indebtedness through any legal means possible, including reporting such debt to credit agencies.

23.7. If you have any complaints about any of these set-off provisions, or if you believe that we have acted unreasonably in applying these provisions, please contact the OBS whose details are provided in the section titled ‘Complaints’ above.

24.1. Your EveryDay transactional account is a full-service bank account which is the core of your banking product set.

24.2. It has the following benefits:

• Very competitive pricing and no monthly fees
• Electronic transactions to and from any South African Bank
• Free cash withdrawals and low-cost deposits at PnP and Boxer tills
• Cash withdrawals at any ATMs
• Free Visa debit card for Point-of- Sale (“POS”), ecommerce and ATM transactions

25.1. Receiving your debit card: You will be issued with a Visa branded contactless chip and PIN debit card at a Kiosk instore at a PnP or Boxer. The debit card has an integrated circuit (CHIP) and an antenna for wireless communication which allows for contactless card payments by bringing the debit card into the wireless range of an enabled contactless POS device at selected merchants.

25.2. You will either receive a personal card or a business card depending on your account. These terms and conditions apply equally to both.

25.3. You will choose a personalised PIN before receiving your debit card (keep this safe).

25.4. Activating your debit card: When the debit card is issued, it has a status of ‘active pending first transaction’. To activate your debit card, you will need to perform a successful POS or ATM transaction.

25.5. Debit card safety and PIN: As a cardholder, you must take proper care of the debit card and the debit card PIN. You must take all reasonable steps to prevent them from being lost, stolen, or wrongfully used. Be aware that anyone who has your debit card can perform contactless transactions, so you must keep the debit card safe.

25.6. If the debit card, the debit card number, or the PIN is lost, stolen, or used wrongfully, you must let us know immediately by calling the 24-hour Lost Card number 0860 999 118 (+27 11 327 6167 for International Calls).

25.7. Upon issue, your card, including replacements and renewals, will be automatically enrolled for VbV participation, which provides another level of authentication when performing an eCommerce transaction at a participating merchant.

25.8. For a transaction at a 3DSecure merchant, you will be sent a One Time PIN, which you must enter correctly in the space provided to complete the transaction. A PIN may not be required for a key entry transaction.

25.9. We may impose measures to stop or restrict the use of the debit card or debit card number if we suspect that fraudulent or illegal activity is occurring on the debit card.

25.10. Expiry and Replacement: Your debit card is valid until the last day of the month shown on the debit card. Your new debit card will be issued to you at a Kiosk.

25.11. You may request a replacement debit card if your debit card is lost, stolen, or damaged. We may charge you for a replacement debit card. This cost is available in the Fees section available on our website.

25.12. Exchange Control Regulations: You must follow all applicable exchange control regulations when using the debit card outside the Common Monetary Area (which includes Swaziland, Lesotho, Namibia, and South Africa). Any transaction or payment made in a currency other than South African Rand (“Rand”) will be converted to Rand at the Visa rate of exchange that applies on the date of processing the transaction to your accounts.

25.13. Right to debit the account or decline transactions: Each time the debit card or the debit card number (and PIN) is used to perform a transaction, we have the right to deduct this amount from your account. This right applies even if no transaction slip or cash withdrawal voucher has been signed.

25.14. Card Disputes: If you have any problems, claims, or disputes with any supplier or merchant that you use your debit card with, this will not affect our right to receive payment in any way. You will not be able to instruct us to refuse to pay the supplier. You also cannot instruct us to make a claim nor institute a counter claim against a supplier or merchant.

25.15. Any payment made by us to a supplier or merchant is final and cannot be reversed unless Visa allows it in terms of their own rules and regulations.

25.16. If a payment was made twice, you must provide proof that you tried to resolve the dispute or problem with the supplier.

25.17. You must raise any dispute about your debit card within 30 (thirty) days after the transaction date.

25.18. In these Banking Terms, you agree that no supplier or merchant is our agent. If a supplier or merchant refunds you, it will be credited to your account only after we receive a proper credit voucher from the supplier or merchant.

26.1. You can deposit money by:

• Depositing cash at any PnP or Boxer till point with or without your debit card.
• You will not be able to make cheque deposits into your bank account. Your debit card has all the information needed to deposit funds into your account.

26.2. You can withdraw money by:

• Withdrawing cash at any PnP or Boxer till point with or without your debit card
• Withdrawing cash at a Visa accepting retailer (refer to our website www.tymebank.co.za for the fees)
• Withdrawing cash at any ATM

26.3. Your cash transactions will be limited. Please see the table below for the maximum limits you agree to accept.

27.1. SendMoney is a payment service available to you as our customer, if you have funds available in your EveryDay transactional account.

27.2. To send money, you simply login to the SmartApp or Internet Banking, click on SendMoney and enter the intended recipient’s mobile number and the amount to be paid.

27.3. If the mobile number is linked to a recipient who banks with us, the full amount sent will immediately be transferred into the recipient’s EveryDay transactional account. No fees apply when both the sender and the recipient bank with us.

27.4. If the recipient mobile number is not associated with an existing Tyme customer, a voucher will be generated and sent to the recipient via SMS.

27.5. The voucher can be cashed out at any Boxer or PnP till point and is valid for 3 years from date of issue.

27.6. A fee of R4 is applied when a voucher is generated – the value of the voucher is therefore R4 less than the value entered by the sender. Effective from 1 January 2021, this fee will be increasing to R6.

27.7. We limit the total value of transactions we classify as high risk (which includes SendMoney and airtime or electricity transactions) to R3000 per day.

27.8. The SendMoney service has great benefits for existing MoneyTransfer customers:

• MoneyTransfer senders who switch to using SendMoney no longer need to travel to PnP or Boxer to SendMoney. You will also pay lower costs: if the recipient joins Tyme, neither sender or recipient pays fees for SendMoney transactions.
• SendMoney recipients who have opened Accounts with us can withdraw cash at any PnP or Boxer for free. They don’t need to withdraw the full amount received. They are also able to use the money instantly to buy airtime or electricity, to make payments, or to save towards goals.

27.9. Please check that all information is correct when you send money. We will not transfer the funds to a new cellphone number if the Recipient’s cellphone number changes or you enter the wrong number and the SendMoney has been redeemed. We cannot reverse, refund or correct payments that were made to wrong persons and redeemed.

27.10. Any SendMoney payments not redeemed by the recipient within 7 days will be automatically reversed. 

28.1. Make sure that your account has enough funds available to make a payment. This includes when you make any payments, transfers, debit card purchases, value added service purchases, debit orders, or when you incur fees on the account.

28.2. We will not carry out payment instructions if there are not sufficient funds available in your transactional account.

28.3. Under special circumstances, we might decide to provide you with better service by allowing specific transactions can go ahead even if you have insufficient funds available in your transactional account.

28.4. If this happens we will charge a fee for each payment instruction, and we can immediately demand repayment for the amount owing.

28.5. Payments made to other Tyme customers will be processed immediately unless processed after 22:00, in which case they will be processed by 1:00 on the following day.

28.6. If you make payments to other banks, the following cut-off times apply:

28.7. You must allow for two business days for an electronic transfer to reach the account of the person you are paying at another bank (beneficiary).

28.8. We have the right to delay certain payments for fraud prevention reasons.

28.9. When making payments, we will not be responsible for any loss or damage due to errors made in setting up beneficiaries or payments.

28.10. Cancelling payment Instructions: for payments made through electronic transfers, we cannot reverse a payment instruction to another bank after it has been processed.

28.11. However, if the person we paid has an account with us, and if the account holder has given us permission to do so, we will try to reverse the transaction if this is possible.

28.12. For all electricity, data, and SMS purchases, please check that all information is correct. We won’t refund any of these transactions.

28.13. We limit electronic transactions. Please look at this table to see the maximum limits:

• GoalSave is a savings product linked to your EveryDay Account that will help improve your financial wellbeing by:
  • Offering you financial incentives if you commit to investment goals, with extra rewards for longer term commitments and for disciplined goal management.
  • Removing barriers such as minimum balances, penalties, and fees; and allowing instant access to your funds.
  • Automating the process of saving.
  • Offering help in tracking savings goals and understanding progress.

29.1. Balances held in the GoalSave product earn interest at rates that increase with time. The rates applicable for each time period will go up or down in the future, but at bank launch, the maximum effective interest rate will be 10%. From 1 July 2020, the maximum effective rate earned will be 7%. Interest earned on balances held up to July 2020 will not be impacted by the rate change:

• 4% for the first 30 days after money is added to the GoalSave account
• 5% from day 31 to 90
• 6% from day 91 onwards

29.2. Interest rates quoted are annual rates, and compounding is monthly, calculated on the first day of the month, and based on average monthly balances. Average monthly balances are based on daily end of day balances.

29.3. Interest on the money in each GoalSave goal is calculated daily, on the balance at the end of the day, and at the interest rate for that day. The daily interest builds up during the month and is added to the balance in the GoalSave account on the 1st day of the next month.

29.4. Contributions

• Contributions into a GoalSave goal can be made using the SmartApp or Internet Banking channel. Contributions can only be made from your own EveryDay account.
• Others can contribute to the GoalSave goals you have created by making a payment into the EveryDay transactional account and using the GoalSave account label as the reference. Contributions into a GoalSave goal can be made using the SmartApp or Internet Banking channel. Contributions can only be made from your own EveryDay account.
• There is no limit to the number of contributions that may be paid to each GoalSave goal. Each customer is allowed to have up to 10 GoalSave accounts at any time. The total capital contributions to all active GoalSave accounts may not exceed R100 000

30.1. The GoalSave product offers two options for withdrawals:

• Instant access – If you select this opinion, the full balance will be transferred instantly to your EveryDay transactional account (all the money you have deposited and all the interest you have earned).
• 10-day notice period withdrawals - If you select this option, you will earn a BONUS, which will increase the maximum effective interest rate earnable on the GoalSave account.
  
  At bank launch, the maximum effective interest rate was 10%.
  
  From 1 July 2020, the maximum effective rate earned will be 7%. Interest earned on balances held up to July 2020 will not be impacted by the rate change.
  
  Once the 10 days have passed, the capital, interest, and BONUS will be paid into the EveryDay transactional account.

30.2. You cannot withdraw only part of your GoalSave account balance. If you withdraw money from this account, the full balance in your GoalSave account will be transferred to your EveryDay transactional account.

30.3. The BONUS multiplier and interest rates may change at the bank’s sole discretion. If there are any changes, you will be notified by SMS, and applicable rates will be viewable on the SmartApp or on the www.tymebank.co.za website.

30.4. Money in your GoalSave account can only be paid into your EveryDay transactional account.

30.5. GoalSave will not allow debit orders to be made from your GoalSave account. This means you are in full control of your money.

We have partnered with PnP’s popular Smart Shopper programme to bring you a range of benefits which will become available if you chose to join our Loyalty Programme by opting in to the Smart Shopper Terms & Conditions on the kiosk.

31.1. Benefits if you join

• Automatic enrolment in PnP’s Smart Shopper program, with your Tyme debit card doubling up as a Smart Shopper card.
• Receive double Smart Shopper points for PnP purchases when your debit card is swiped to earn and used to pay.
• Receive Smart Shopper points for purchases outside of PnP (including international purchases and eCommerce) when your debit card is used to pay  (the earn rate is set at 1 Smart Shopper point for every R10 spent).
• Keep all unspent Smart Shopper points that are linked to an existing registered Smart Shopper profile.

31.2. Smart Shopper profiles

• If you chose to join the Loyalty Program, your debit card will be linked to your Smart Shopper profile.
• Your debit card has your Smart Shopper number printed on the back. It also stores your barcode and magnetic strip. This means it can double up as a Smart Shopper card.
• If you have previously registered your Blue Smart Shopper card (which is linked to your SA ID number) your new debit card will be linked to your existing Smart Shopper profile.
• If you choose to keep your existing Blue Smart Shopper card, this will continue to work. Points will be awarded to your profile. Please be aware that you can only earn more points at a higher level if you use your debit card.
• If you have not registered your blue Smart Shopper card, or if you do not have any have points linked to your card, you can link all these points to the new Smart Shopper profile linked with your debit card.
• Please call the PnP Smart Shopper call centre on 0800 11 22 88 to do this.

31.3. How to earn and burn

The processes for earning loyalty points (“earn”) and spending points you have earned (“burn”) are simple:

• Inside PnP, present your debit card to the till operator before or after your purchases are scanned. Then, use your Tyme debit card to pay.
• At all other retailers, including Boxer, simply pay with your Tyme debit card.
• To spend your points, first follow the normal PnP processes to allocate the points to your debit card (at the Smart Shopper kiosk or online). Once you are ready to pay for your goods at the till, simply tell the till operator that you wish to pay for your purchase with Smart Shopper points, and hand over your debit card.
• Your Smart Shopper points balance can be viewed through the Smart Shopper channels (Smart Shopper kiosk and website) – the balance will include all Smart Shopper points awarded by PnP, Tyme and other Smart Shopper partners.

31.4. Tyme Loyalty Awards

• There is no limit to the number of points you can earn – the more you use your Tyme debit card, the more you will earn.
• The Smart Shopper points you earn by participating in the Tyme loyalty program and paying with your Tyme debit card, will be awarded on a monthly basis.
• We will calculate how many points you’ve earned directly after calendar month end and will always strive to award your points as soon after this as possible.
• If you have any questions about the loyalty points you earn from us, you can call our Customer Service Centre on 0860 999 119. We will be unable to help resolve issues related to earning points from PnP or another Smart Shopper partner.

31.5. Card issues

• Lost, stolen or damaged debit cards must be cancelled using Kiosk, SmartApp, Internet Banking or by calling the Customer Service Centre:
• New debit cards can only be issued at a Kiosk.
• Smart Shopper points linked to a Smart Shopper profile will not be affected when a new debit card is issued.
• Smart Shopper points that have been converted for burn and have been allocated to a debit card that is replaced, can be recovered from the lost, stolen, or damaged debit card by calling the Smart Shopper call centre on 0800 11 22 88.

32.1. The following terms and conditions (‘Channel Terms’) apply to the platforms (‘Channels’) that we use to provide products to you.

32.2. You need to agree to these Channel Terms before you can use any of our Channels. You cannot access our products without using one of our Channels.

32.3. If there is anything in these Channel Terms that you do not understand, please call us on 0860 999 119 as soon as possible to ask for more information. It is important that you do this before using our products.

33.1. We have different Channels that you can use to access our Accounts and Products, depending on the relationship you have with us:

• our website (www.tymebank.co.za)
• our internet banking site (bank.tymedigital.co.za)
• our in-store machine (‘Kiosk’)
• our mobile app (‘SmartApp’)
• PnP and Boxer till points (‘Till’)
• our call centre (‘Customer Service Centre’)
• our in-store assistants (‘Ambassadors’)

34.1. You agree that you can only use our Channels to access our products and not for any other reason.

34.2. When you use our Channels, you agree that we can monitor how you use the Channels and what information you send through the Channels. We do this for security reasons to make sure that the Channels are not being used without permission, or to commit any crimes.

34.3. You agree that you may have problems using our Channels if you are outside South Africa and that we will not be responsible to you if you cannot access our products for this reason.

35.1. When you use our Channels, you agree not to do any of the following things:

• translate, adapt, vary, modify, violate, circumvent, reverse-engineer, decompile, disassemble, create derivative works or otherwise interfere with any element of the Channels, or assist another person to do so;
• sub-licence the use of Channels or market, distribute, publish or otherwise pass the Channels on to anyone else;
• use the Channels in any way that is illegal, against these Terms, or for any illegal purpose (for example, by hacking into or inserting malicious code or harmful data into the Channels or any connected operating system);
• collect or harvest any information or data from the Channels or our systems, or attempt to decipher any transmissions to or from the servers running any service
• upload any content onto the Channels that is or may be considered; violent, threatening, liable to incite racial hatred, in breach of confidence or privacy obligations, discriminatory, defamatory, abusive, unlawful, pornographic, obscene, indecent, profane or which may cause annoyance or inconvenience or infringe other persons’ rights in any way.

36.1. If you end our Agreement, you will lose the right to use our Channels. We recommend that you download and save all information saved on any of our Channels before ending our Agreement or deleting any of our Channels from your devices.

37.1. You agree that we may sometimes update or change any of our Channels or the way they work for any of the following reasons:

• to add or remove features
• to make changes or improvements
• because any laws or regulations force us to

37.2. If we have enough time, we will let you know about these updates or changes before they happen.

37.3. You agree that some updates to our Channels will be compulsory and that you may not be able to access your accounts if you are using an old version of one of our Channels. We will tell you about any compulsory updates.

37.4. You agree that we may discontinue any of our Channels. We will give you reasonable notice before discontinuing any of our Channels.

38.1. We use technical and security measures to make sure that our Channels are secure and virus-free, and to protect your data from unauthorised access and use. This includes any information that you provide via our Customer Call Centre.

38.2. We recommend that you set up security and install anti-virus software on all devices that you use to access any of our Channels.

38.3. You agree that we cannot guarantee the security of any data you send using any of our Channels and you accept the risk of sending us this information.

38.4. You agree that we cannot guarantee that our Channels are virus free and you accept the risk of using our Channels on any of your devices.

39.1. You are responsible for keeping your login information, passwords, and PINs (‘access details’) and your devices safe, and we recommend that you take the following steps to increase their safety:

• Use passwords or fingerprints to lock your devices.
• Never save your access details on any of your devices.
• Try to remember your access details and do not write them down anywhere.
• Always log out of any of our Channels when you are finished using them.

39.2. We will never ask you to tell us your access details and you agree to keep this information safe and not share it with anyone.

39.3. If you believe any of your access details have been lost or stolen, or you believe someone else has accessed your Accounts, you must tell us as soon as possible.

39.4. If anyone else uses your details without your permission to access your Accounts, we will assume that it was you, and you agree that we will not be liable to you for any loss or damage you may suffer in this situation.

39.5. If you give your access details to any third parties, including other apps or websites, your details could easily be stolen, and you agree that we will not be liable to you for any loss or damage you may suffer in this situation.

40.1. We or our licensors are the owners of all intellectual property in the Channels and their content. You may not use or reproduce any of this intellectual property without first getting our written permission.

40.2. You agree that we have an irrevocable, transferable, worldwide, royalty free, and non-exclusive licence to use and store any content that you provide or upload onto any of our Channels when you use our Channels to access our Products.

41.1. We will try to make sure that the information displayed on our Channels is correct and up-to-date, but you agree that this will not always be possible and that we will not be liable to you for any loss or damage you may suffer in this situation.

41.2. You agree that none of the information displayed or communicated to you through our Channels amounts to investment advice from us, or an offer from us to do business with you.

The SmartApp is the Channel that you can use to access our products without any help from us.

42.1. We may use the SmartApp to collect indirect information from you. We may also use it to provide other products to you from third parties.

42.2. When you download and use the SmartApp, you agree that we may collect indirect information from you so that we can customise your experience.

42.3. When you register with us, we will collect the following security information from you, which together will make up your ID for the purposes of the SmartApp. This ID will provide us with a secure way of checking your identity each time you log onto the SmartApp, or any other relevant Channel.

42.4. This information that forms your ID is:

• information that allows us to identify your specific device and SIM card; and
• a four-digit PIN that you select.

42.5. We grant you a license to use the SmartApp provided that you comply with these Channel Terms.

42.6. When you download and/or use the SmartApp, we will have access to your Internet Protocol (IP) address.

42.7. When you use the relevant Channels on your mobile device, it will use your device’s data connection, you will need to carry the cost.

42.8. The SmartApp may need to access the camera and microphone on your device. It may also use your gallery, contacts, location information, and data available through other sensors. This will be for risk assessments, customisation or the provision of specific services.

42.9. You will be asked for permission before the SmartApp accesses any function or information on your device. You may choose not to grant permission, but this may limit the features and benefits available as a result.

42.10. To make sure that we offer you the best possible user experience, we will record events within the relevant Channel, including time spent on a page, time to complete processes, how you use the SmartApp and if relevant, how you use your device. This may also include the use of location data, connectivity type and technical device data. We do this to help with any problems we may encounter and to monitor our Channel usage and make improvements.

42.11. By using the SmartApp, you allow us to collect and use technical information about your device and related software, hardware and peripherals for services that are Internet based or wireless. This will allow us to improve our products.

This Channel allows you to access different products and perform a variety of functions.

43.1. You may access Internet Banking off any device, as long as it has a safe internet connection.

43.2. You will need to log in with your login password. You are responsible for keeping this password safe, and you are responsible for making sure that the device that you use to access our Internet Banking is safe and secure.

43.3. We may accept that any instruction that we receive on our Internet Banking Channel in relation to your account is an instruction that you have performed. We will not be held liable if these instructions were not in fact sent by you.

43.4. We may monitor your use of our Internet Banking and collect data from your use of this Channel.

43.5. We will try our best to make sure that all of information displayed on our Internet Banking Channel is correct, however we cannot guarantee that it always will be.

You can find our Kiosks in PnP and Boxer stores and you can use them to apply for products.

44.1. Before we will accept you as a client and before you may make use of our products, you will need to set up a login PIN and/or password, if you don’t already have one.

44.2. Once we have checked who you are, you agree that any instruction that is made in your name, is an instruction from you. You cannot hold us liable for acting in terms of an instruction that is made in your name, if it later turns out that it was not you.

Our Customer Service Centre is there for you to ask us any questions, or if you want to complain about us or any of our employees or Ambassadors.

45.1. You agree that all calls to our Customer Service Centre may be recorded. These recordings will be destroyed after 5 years unless the law forces us to destroy them sooner.

45.2. We will do our best to keep these recordings secure and confidential. You agree that you will not hold us liable if for any reason the recordings are accessed by an unauthorised person.

45.3. Before speaking to any of our Customer Service Centre operators, you might need to answer some questions. This is just to make sure that we are speaking to the right person.

45.4. Customer Service Centre operators will explain to you how to use our products, but they will never give you financial advice. You agree that no information or help you get from a Customer Service Centre operator will be viewed as financial advice.

45.5. You agree to treat our Customer Service Centre operators with respect and dignity. If you say anything to our Ambassadors that is abusive, racist, or likely to incite harm, we can report you and we may decide to end our Agreement with you.

45.6. The Customer Service Centre is available at the following times:

• Monday to Sunday 8am to 6pm, including public holidays.

Our website is the best place for you to visit to find information about our products, our help and complaints procedures, and all our terms and conditions.

46.1. We may also advertise different products on our website, and some of these may be offered to you by different service providers. You agree that you may not hold us liable in any way for any product or service you purchase from a third party as a result of the adverts on our website.

46.2. You agree that we may monitor how you use the website so that we can use this information to improve our services. You agree that our website can use cookies to gather and make use of this information.

46.3. When you use our website, you agree that we can store your IP address and use this information to improve our services to you.

46.4. You agree that nothing on our website should be viewed as investment advice.

47.1. This Channel is not provided by the bank – we do not own or control the Tills.

47.2. You can use the Tills to deposit and withdraw cash, and to earn PnP Smart Shopper loyalty points.

47.3. When you use your debit card at any Till, you will earn Smart Shopper points.

47.4. If you have any questions or complaints about the Tills, you must call PnP or Boxer directly on 0800 11 22 88.

You will see that we have Ambassadors available at our Kiosks to help you access our Products.

48.1. An Ambassador will never ask you for your access details and you must never share your access details with them.

48.2. Ambassadors will explain to you how to use our Kiosks, but they will never give you financial advice. You agree that no information or help you get from an Ambassador will be viewed as financial advice.

48.3. You agree that you may not hold us, or any of our Ambassadors, liable for any harm or loss you suffer as a result of any or all of the help they provide to you.

48.4. You agree to treat our Ambassadors with respect and dignity. If you say anything to our Ambassadors that is abusive, racist, or likely to incite harm, we can report you and we may decide to end our Agreement with you.

49.1. International transactions are subject to, amongst others, Exchange Control Regulations. If your account, and the transactions, do not fully comply with all applicable regulations and include all the information and documentation requested, the transactions will not be processed, and your card may be blocked if information or documentation is missing. By accepting these terms and conditions you agree to adhere to the Exchange Control Regulations or any similar laws that apply from time to time and that you will comply with all applicable Exchange Control requirements.

49.2. Transactions within Lesotho, Namibia and Swaziland are not seen as international transactions and are treated as transactions within South Africa.

49.3. When you make an international payment there are two steps to the transaction. In the first step, the international merchant checks if funds are available in your account, the authorisation, and Rand equivalent of the transaction is withdrawn from your account. In the second step, the merchant then groups the authorised transactions to be processed in a batch, the settlement. There may be a delay by the merchant between the authorisation and the processing of the transaction, this may result in a higher, or lower amount, between the amount authorised and the transaction amount, because of changes in the exchange rate. You may see this difference as a second transaction in your account You are responsible for these exchange rate differences.

49.4. All transactions conducted with a foreign based merchants (whether in foreign currency or in South African Rand) will be charged a conversion fee of 2% of the value of the transaction at settlement.

49.5. You may not use your account to purchase lottery tickets or gambling activities of any kind internationally, as doing so would be contravening the Lotteries Act (Act No. 57 of 1997, as amended) and the National Gambling Act (Act No. 7 of 2004 as amended). This includes buying a lottery ticket or participating in the gambling activity directly, or funding the activity indirectly through a wallet, virtual account, or other store of value.

49.6. If funds are transferred to your account from an international source, we will not be able to process the transaction until all required information and documentation is provided.

50.1. There is an annual regulatory limit of R 1 million for South African citizens and permanent residents above the age of 18 years, and R 200,000 if you are below 18 years old.

50.2. These limits are combined across financial institutions. We may not process any transactions where your limit has been reached, regardless of whether the limit was reached at another financial institution, unless you have an authorisation from the South African Reserve Bank. You are liable to manage these limits.

51.1 This feature is available on all active EveryDay accounts. All qualifying EarlyPay transactions will be credited a day earlier.

51.2 EarlyPay only applies to transactions where the sender’s bank, and account, use the type of Electronic Fund Transfer that is processed on one day, and credited to the recipient’s account on a later date. This applies to most salary and scheduled payments.

51.3 EarlyPay does not apply if the sender’s bank, or account, use the type of Electronic Fund Transfer that is processed and credited to the recipient’s account on the same day.

51.4 An Electronic Fund Transfer from a TymeBank account is processed within the same day if it’s sent before 15:00 on a business day.

51.5 Qualifying EarlyPay transactions will be credited to the recipient’s account between 16:00 and 19:00 the day before its payment action date. We wait until 16:00 to allow for any corrections to be made to payments. 

52.1 In order to qualify for the benefit your salary must be paid into your TymeBank EveryDay account or TymeBank Business EveryDay account.

52.2 The GoalSave Salary Kicker will result in an increase in the effective interest rate earned over the life of the GoalSave account. The value of the GoalSave Salary Kicker may be adjusted from time to time.

52.3 The GoalSave Salary Kicker is only applied to withdrawals that qualify for the GoalSave Bonus. The GoalSave Bonus is applicable when the “payout with a 10-day notice period” option is selected when making a GoalSave payout.

52.4 The GoalSave Salary Kicker is effective for the calendar month following the month in which your salary has been paid into your TymeBank EveryDay account.

52.5 This promotion will run from 1 October 2020 to 30 June 2021; this may be extended at TymeBank’s discretion.

53.1 There are no fees, charges or interest for using MoreTyme and making your payments when they are due. However, if you miss a payment, the amount due will be your purchase amount, plus 65 Rand.

53.2 We will run credit checks when deciding if you qualify for MoreTyme.

53.3 Your MoreTyme limit may increase or decrease depending on your credit profile and other behaviours including, how you use your TymeBank account, GoalSave and products and services from our partners. Information regarding the MoreTyme limit will be available on your MoreTyme profile.

53.4 Once you initiate a MoreTyme purchase 50% of the purchase amount will be deducted from your EveryDay account. The remainder will be deducted in equal instalments, as specified on your MoreTyme profile (on or around day 30 and 60 after the purchase date).

53.5 If your MoreTyme balance is not enough to pay for a purchase, you may pay the difference, using your TymeBank account or cash, directly to the Retailer, if partial payment is allowed for the purchase.

53.6 You are always responsible for the MoreTyme purchase amount, even where the initial payment may not be immediately deducted, in which case the funds will either be deducted from your EveryDay account as soon as funds are available or added as additional MoreTyme instalments.

53.7 You authorise TymeBank to deduct the instalment amounts due from your EveryDay account. The date and amount of your payments is specified on your MoreTyme profile.

53.8 TymeBank accepts no liability for any loss or damage that may occur because of the use of MoreTyme or the purchases, responsibility for purchases remains between you and the Retailer. We do not offer any warranty or guarantee regarding the Retailer, their goods or services.

53.9 Any faults, defects, returns or refunds must be resolved directly with the Retailer.

53.10 You must protect your accounts, passwords and PINs. We will assume that any purchases from your MoreTyme profile were made by you and you will be liable for the instalments and all amounts due.

53.11 If you miss a payment:

• The additional 65 Rand added your purchase for late payment will be charged, and your purchase will become an incidental credit agreement;
• there will be interest of 2% per month on the amount in arrears;
• you authorise TymeBank to deduct the amount due, or the portion available, the next time funds are paid into your EveryDay account;
• you also authorise TymeBank to deduct the amount due from your EveryDay Account, through a debit order, on your salary date. If your salary date is on a weekend or public holiday, you authorise us to debit your account the previous business day. If no funds are available, your account will be tracked, and the debit order will be processed the next time funds are available in your EveryDay account.
• the amounts due will be specified on your MoreTyme profile; and
• we may take action to recover the amounts due, this will negatively impact your credit profile.

53.12 If you miss a payment, any of your TymeBank products are not in good standing, or you no longer meet the eligibility criteria indicated on your MoreTyme profile, your MoreTyme limit may be suspended or terminated.

53.13 Any legal notices and documents will be sent by email. Where required, statements will be available on your MoreTyme profile. The statements relate to your MoreTyme profile, not your purchases with a Retailer.

53.14 If we decide to be less strict in how we apply these Terms, or delay charging fees or interest for late payments it does not mean the payment is excused or that we waive our rights to claim all amounts that are due. All rights are reserved.