1.1 the account means the client’s transactional current account to which these terms and conditions apply.
1.2 the agreement means the agreement between the parties as constituted by these terms and conditions.
1.3 ATM means automated teller machine.
1.4 the bank means Go Banking, a division of Nedbank Limited Reg No 1951/000009/06, with registered address Nedbank Sandton, 135 Rivonia Road, Sandown and postal address PO Box 1144, Johannesburg, 2000.
1.5 card means the relevant magnetic-strip or chip bank card issued to the client, which at the discretion of the bank may or may not include a Nedbank or Go Banking Maestro Debit Card, a Nedbank or Go Banking Visa Electron Card, a Nedbank or Go Banking MasterCard Cheque Card, a Nedbank or Go Banking Garage Debit Card and/or a Nedbank or Go Banking ATM card.
1.6 card transaction means any commercial transaction, including but not limited to purchases, payments, interaccount transfers, services, cash withdrawals or deposits made:
1.7 chip means the integrated circuit that is embedded in a plastic card and which is designed to perform processing and/or memory functions.
1.8 chip and PIN card means a plastic card, commonly called a chip card, with an embedded chip that communicates information to a point-of-transaction terminal.
1.9 delivery and deliver mean that, in terms of any notice required to be provided to the client and/or the bank, such notice may only be given in writing and must be delivered to the client and/or the bank by way of hand delivery or prepaid registered post or telefax or telegram or email or SMS. If delivered by hand, the notice shall be deemed to have been received on the date of delivery. If delivered by prepaid registered post, the notice shall be deemed to have been received within 7 (seven) days of posting, unless the contrary is proved. If sent by telefax, the notice shall be deemed to have been received on the date of confirmation of the successful transmission of the facsimile evidenced by a transmission report and/or slip. If delivered by telegram, the notice shall be deemed to have been received within 7 (seven) days of sending of the telegram, unless the contrary is proved. If sent by email, the notice shall be deemed to have been received on the day of transmission, unless the contrary is proved. If sent by SMS, the notice shall be deemed to have been received on the day of transmission, unless the contrary is proved.
1.10 the client means the applicant whose details are set out in the application form.
1.11 dormant account means an account that has had no client-initiated debit or credit transactions for such a period as the bank, at its discretion, may determine from time to time.
1.12 the interest rate means the interest rate that appears in this agreement and in the product brochure, being the variable interest rate that applies to the agreement initially, which rate is subject to change as provided for in this agreement.
1.13 the act means the National Credit Act, 34 of 2005, as amended from time to time, if applicable.
1.14 the parties means the bank and the client.
1.15 PIN means personal identification number. This is a secret number selected by the client and which only the client knows. This number must be encoded on the card by the bank and is used as a means of user identification. The card must be encoded with a PIN before the client will be able to withdraw and deposit money and otherwise use the card at such compatible ATMs, SSTs, point-of-sale terminals and other electronic devices as the bank may advise from time to time.
1.16 product specifications means specific features of products offered by the bank, including but not limited to minimum deposits, minimum balances, interest rates, costs, charges, fees and service fees.
1.17 SST means self-service terminal.

2.1 The client must immediately on receiving the card sign the card on its reverse with a non-erasable ballpoint pen.
2.2 Subject to product specifications, the client shall be entitled to operate the account through access to electronic banking services, which include services at an ATM, SST and a point-of-sale device, as well as by telephone banking services and internet banking services.
2.3 The client will have access to ATMs or SSTs by using the card together with a PIN.
2.4 It is important that the client's card is not used fraudulently. The client must therefore:
2.5 When the client has received the card, the bank will, where applicable, encode the card with a PIN, which will give the client the right to deposit and/or withdraw cash and/or make use of services by means of the card at a compatible ATM, SST or other electronic device.
2.6 By keeping and/or using the card the client accepts all these terms and conditions in respect of the use of the card.
2.7 The client may not cede or delegate any of his rights or obligations in respect of the card or its use.
2.8 The card is valid from the time it is issued or from the first day of the 'valid from' date on the card, as the case may be, until it expires or until the account is closed by either the client or the bank for whatever reason.
2.9 The bank is the owner of the card and, when the account is closed for whatever reason, the client must give the card back to the bank (or to any person who is authorised to act on the bank’s behalf).
2.10 If the card, or the client's card number or PIN:
2.11 The bank is entitled to debit the client’s account with the amounts of:
2.12 Except where a transaction is made by means of the PIN or is requested by mail or telephone order, the client must sign a sales voucher or a refund voucher, as the case may be, every time the card is used or the card number is given to a merchant or supplier. By signing the voucher the client confirms that the information on it is correct. The client will be liable for and must repay the bank all amounts the bank pays or has to pay in respect of the client’s card transactions. If the client does not sign the relevant voucher(s), the client will still be liable towards the bank.
2.13 The client must be fully familiar and comply with all the applicable exchange control regulations when the card is used outside the common monetary area. Card transactions made in foreign currencies will be shown on the client’s statements, if applicable, in South African rand.
2.14 The client may not use the card for any unlawful or illegal transaction and it is the client’s duty to make sure that a transaction is lawful before the card is used.
2.15 The client may not use the card for any payment on behalf of a business or for transactions that in the bank’s opinion are non-personal transactions.
2.16 When the client uses an ATM or an SST, the client does so at his own risk and the bank will not be held liable for any loss or theft resulting from the use of an ATM or an SST or other electronic device.
2.17 When making withdrawals at ATMs outside the borders of South Africa, the daily withdrawal limit will be different from the daily withdrawal limit at ATMs inside the borders of South Africa.
2.18 The client authorises the bank (which authorisation may not be cancelled):
2.19 The bank shall not in any way be liable to the client if any merchant or supplier does not accept the card or the card number, or if the bank refuses to authorise any card transaction.
2.20 If there are any claims or disputes between the client and the merchant or supplier in respect of the nature, quality or quantity of any goods or services obtained by the client from the merchant or supplier or in respect of any other matter, the bank’s right to receive payment from the client will not be affected in any way nor will it give anyone a right of setoff or counterclaim against the bank. The client hereby acknowledges that no merchant or supplier is the bank’s agent.
2.21 If a merchant or supplier refunds a client, it will be credited to the client’s account only in the event of and once the bank receives a properly issued credit voucher from the merchant or supplier.
2.22 The client will not have the right to stop any payment that the bank makes or which the bank is about to make to a merchant or supplier in respect of any transaction, nor will the client have the right to instruct the bank to reverse a payment in respect of a transaction which has already been made, except as may be provided otherwise by statute.

3.1 The client hereby agrees that:

4.1 Subject to product specifications, interest shall accrue to the balance in the account, if the account has a credit balance.
4.2 Where applicable, interest on credit balances will be calculated on the end-of-day balance and will accrue and be capitalised on a monthly basis.
4.3 Interest rates on credit balances will be tiered, which means the greater the balance, the higher the rate (except for staff accounts).
4.4 An income tax certificate (IT3b certificate) will be issued to the client in respect of an account where the interest earned for the tax year was R350,00 (three hundred and fifty rand) or more.
4.5 Debit interest at the maximum interest rate as prescribed by the act, if applicable, will accrue to the account if the end-of-day balance is a debit balance.
4.6 The current rates of interest are available on request at any branch of the bank and are always quoted on an annual basis for credit balances and on a monthly basis for debit balances.
4.7 The bank is entitled to change the interest rates on credit balances at any time and will reasonably endeavour to give prior notice of the changes in interest rates. If the client does not receive such prior notice, the bank shall not be prevented from adjusting the interest rate.

6.1 Funds are available on demand, subject to the following limitations:

7.1 Subject to product specifications, there is no limit on the number and size of deposits that can be made on the account subsequent to the opening deposit.
7.2 If any negotiable instrument is deposited on the account, the proceeds shall be credited to the account, but the proceeds shall only be available as cash when the negotiable instrument has been honoured. If the negotiable instrument is dishonoured, the account shall be debited accordingly and the bank shall send the negotiable instrument to the client at his risk.
7.3 The client agrees that cheques shall be cleared by the bank through any clearing system used by clearing banks.
7.4 If a cheque deposited by the client is returned unpaid, the bank will inform the client within a reasonable period of time.

8.1 The client is entitled to obtain a leaflet that contain information regarding transaction charges at any branch of the bank and the client hereby confirms that he has obtained such a leaflet and has read and understood the information contained therein.
8.2 The client shall pay a fee per payment instrument that the account becomes overdrawn with or further overdrawn with.
8.3 The client shall be responsible for and pay to the bank, the fees, costs and charges as specified in this agreement and the abovementioned leaflet. The bank is entitled at any time and from time to time in its discretion to vary any fee, cost or charge, provided that no fee, cost or charge will exceed the maximum amount prescribed from time to time in terms of the act or, where the act does not apply to the agreement, such other amount as may be prescribed by law or as agreed to by the client in this agreement and contained in the said leaflet, as amended from time to time. To the extent that value-added tax is payable in respect of any fee, cost or charge, such fee, cost or charge will be inclusive of value-added tax payable by the client.
8.4 In addition, if the act is applicable, the client shall pay any –
8.5 Interest at the interest rate applicable to the agreement from time to time will be charged in respect of any fee, cost or charge not paid on or before the due date for payment thereof and this will not prejudice, restrict or in any manner detract from the rights of the bank pursuant to an act of default.
8.6 In addition, and to the extent permitted by the act (where applicable), all amounts that the bank may pay or incur pursuant to the agreement due to the client’s default, including any amount actually disbursed by the bank either when collecting any payment owing by the client or when exercising any of its rights arising out of any breach of the client’s obligations in terms of the agreement, including legal costs on the attorney and client scale (including tracing fees and any collection commission), will be payable by the client to the bank on demand.

11.1 The bank shall not be liable to the client for any damage or loss that the client may suffer as a result of the following:

13.1 The agreement may be terminated unilaterally by either party by giving notice in writing. The client is entitled to cancel the agreement without prior notice to the bank, but the bank shall give reasonable prior notice of its intention to close the account except where fraud or suspected fraud is occurring or has occurred on the account, in which event the bank is entitled to close the account without prior notice. In the event that the account is overdrawn, the bank will follow the process set out in clause 19 below, as prescribed by the act.
13.2 On termination of the agreement the bank is entitled, at its discretion, to retain sufficient funds in the account to provide for amounts that may become due to the bank after termination.
13.3 On termination of the agreement the client’s right to use any card that has been issued to him in respect of the account, shall terminate. The client shall immediately return the card to the bank at the address set out in clause 15. The card must be cut in pieces to prevent further use.

14.1 The client’s personal information shall be treated as confidential and shall not be disclosed, except in the following circumstances:
14.2 The bank is entitled to disclose information to credit reference agencies relating to the client’s personal debts owed to the bank:

15.1 The parties choose as their addresses for the purposes of the agreement:
the bank: Nedbank Sandton, 135 Rivonia Road, Sandown.
the client: the last-known physical address supplied by the client shall be deemed to be the address the client has chosen.
15.2 Any legal process to be served on any party may be served at the address specified for such party in clause 15.1 and such party chooses that address as its address for legal notice for all purposes under the agreement.
15.3 Any notice or other communication to be given to any party in terms of the agreement shall be valid and effective only if it is given in writing.
15.4 A notice to any party which is delivered to the party by hand at the address specified for such party in clause 15.1 shall be deemed to have been received on the day of delivery, provided it was delivered to a responsible person during ordinary business hours.
15.5 Notwithstanding anything to the contrary in this clause 15 a written notice or other communication actually received by any party shall be adequate written notice or communication to such party even if the notice was not sent to or delivered at the party’s chosen address.
15.6 A party may by written notice to the other party change its address or fax number for the purpose of clause 15.1 to any other address (other than a post office box number) or fax number, provided that the change shall become effective on the 7th (seventh) day after the receipt of the notice.

16.1 Should the client breach any condition contained in the agreement, or should the client breach a condition of any other agreement with the bank (which breach shall constitute a breach of this agreement), the bank will have the right, to the extent permitted by the act, to claim repayment of all amounts owing to or claimable by the bank in terms of this agreement, together with interest thereon.
16.2 All amounts owing to or claimable by the bank in terms of this agreement will, at the option of the bank and to the extent permitted by the act, become immediately due and payable without notice, in the event that the client fails to pay on demand any sum or sums of money owing to or claimable by the bank in respect of any overdraft and/or financial facility granted to the client or any other indebtedness of the client to the bank from whatever cause arising. Any failure by the client to effect payment of the aforesaid shall constitute a breach of this agreement.
16.3 In the event that this agreement is subject to the act, nothing contained in this clause shall be construed as entitling the bank to recover the amount so claimed from the client without complying with the requirements of clause 19.

17.1 Without detracting from or in any manner limiting the bank’s right in the event of default, the client’s attention is directed to section 86 of the act, which entitles the client, in certain circumstances, to apply to a debt counsellor in the prescribed manner and form to have the client declared overindebted.
17.2 An application in terms of section 86 of the act may not be made in respect of, and does not apply to, this agreement if at the time such application is made the bank has, under this agreement, proceeded to take the steps contemplated in clause 19 to enforce this agreement.
17.3 A debt counsellor who has accepted an application in terms of section 86 must determine in the prescribed manner and within the prescribed time whether the client appears to be overindebted.
17.4 Depending on the findings of the debt counsellor, the application may be rejected or it may be recommend that the client and the respective credit providers voluntarily consider and agree on a plan of debt rearrangement or, if the debt counsellor concludes that the client is overindebted, a proposal may be issued recommending that the Magistrate’s Court makes an order with regard to the question of any plan or debt rearrangement, as contemplated in section 86(7) of the act.
17.5 If a recommendation by a debt counsellor is accepted by the client and each credit provider, such order must be recorded in the form of an order and, if it is consented to by the client and each credit provider concerned, filed as a consent order by the debt counsellor in terms of section 138 of the act.
17.6 If a debt counsellor rejects an application contemplated in section 86(7)(a) of the act, the client, with the leave of the Magistrate’s Court, may apply directly to the Magistrate’s Court, in the prescribed manner and form, for an order contemplated in terms of section 86(7)(c).
17.7 If the client is in default under this agreement and this agreement is being reviewed in terms of section 86 of the act, the bank may give notice to terminate the review in the prescribed manner to the client, the debt counsellor and to the National Credit Regulator contemplated in the act. Such notice may be given at any time at least 60 (sixty) business days after the date on which the client applied for the debt review.
17.8 If the bank gives notice to terminate a review as contemplated in terms of clause 17.7 and proceeds to enforce this agreement in terms of clause 18, the Magistrate’s Court hearing the matter may order that the debt review resume on any conditions the court considers to be just in the circumstances.

18.1 In addition to what is stated in clause 16 above, the bank is entitled to claim immediate repayment of all amounts owing under the agreement, together with interest thereon should one or more of the events of demand, set out hereunder, occur and the client fail to remedy same within the time period stipulated by the bank at such time.
18.2 The following shall be events of demand, each of which shall be severable and distinct from the others:
18.3 Where an event of demand occurs, the bank is entitled (without limitation of any other right which the bank may hereby or otherwise acquire) to claim immediate repayment of all amounts owing under the agreement from whatever cause arising in connection therewith, all of which amounts shall immediately become due and payable.
18.4 No indulgence or extension of time granted by the bank to the client shall be deemed to be a waiver of any of the bank’s rights.

19.1 If the client is in default under this agreement, the bank may –
19.2 The bank may approach the court for an order enforcing this agreement only if, at that time, the client is in default and has been in default under this agreement for at least 20 (twenty) business days and –
19.3 Despite any provision of law or contract to the contrary, in any proceedings commenced in a court in respect of this agreement, the court may determine the matter only if the court is satisfied that –
19.4 In any proceedings contemplated in section 130 of the act, if the court determines that –
19.5 The provisions of this clause will only apply to the agreement to the extent that the agreement is subject to the act.

21.1 Subject to such an option being available, a statement reflecting all the debit and credit entries as well as the total debit or credit balance, as the case may be, shall, on a regular basis and in accordance with product specifications, be mailed to clients who have exercised the option. At the sole discretion of the bank an additional cost may be levied against the client’s account for receiving mailed statements. If the client has not opted to receive mailed statements, a statement printout may be obtained at the client’s branch, or via an SST, the internet or telephone banking, if and when required.
21.2 In the event of overdrawn accounts and if the act is applicable to the agreement, the bank will provide the client with a statement of account as prescribed by the act.
21.3 Unless otherwise agreed in writing with the client, the bank will provide the client with a monthly statement by post or electronic mail in accordance with the requirements of the act.
21.4 Statements should be checked for accuracy by the client as soon as they are received. Any discrepancies must be reported to the bank within 30 (thirty) days of receipt of the statement.
21.5 In the event of a dispute with regard to the items appearing on the statement, the bank’s records shall be prima facie proof.

22.1 An account will become dormant if the client has not initiated any debit or credit transactions on his account for such a period as the bank, at its discretion, may determine from time to time. The dormancy period on all Nedbank accounts is 180 calendar days.
22.2 The client will not be able to transact on a dormant account without providing proof of his identity, and such account will be subject to reactivation.
22.3 The bank is entitled, after written notification to the client, at its sole discretion to close an account which has been dormant for such a period as the bank may determine from time to time.
22.4 Sixty (60) days prior to closing the dormant account the bank shall send a letter to the client’s address, informing the client that the account shall be closed.
22.5 Once the dormant account is closed, no interest shall accrue to the account.

23.1 To the extent that the act is applicable to this agreement, the client has the right to –
23.2 The client may dispute all or part of any particular credit or debit entered on the account in terms of the agreement by delivering a written notice to the bank whereupon the bank shall give the client written notice either explaining the entry in reasonable detail or confirming that the statement was in error either in whole or in part, and setting out the revised entry.
23.3 To the extent that the act applies to this agreement, the bank shall advise the client in terms of the act, before any prescribed adverse information concerning the client is reported to a credit bureau and shall provide a copy of that information to the client upon written request.

24.1 To the extent that the act is applicable to the agreement, the bank hereby informs the client that it supplies consumer credit information to the credit bureaus, and in this regard –
24.2 The client has the right to have the credit record disclosed and to correct inaccurate information.
24.3 The client may contact the credit bureaus at:

26.1 Before opening an account the bank is entitled to follow up references or otherwise satisfy itself of the client’s identity and suitability as an accountholder. The bank is entitled to refuse to open an account or accept a deposit.
26.2 The client hereby agrees that the bank is entitled to combine any or all accounts the client may have with the bank, without notifying the client thereof. However, if the bank combines only some of these accounts, the bank shall still have the right to claim from the client any amount in respect of an account that is not part of the combined accounts.
26.3 These terms and conditions read with the application, as amended or replaced by the bank from time to time, together with any other additional terms and conditions, as amended or replaced by the bank from time to time, shall form the whole agreement between the parties in connection with the client’s current account.
26.4 Product specifications, as amended by the bank from time to time, shall apply to the agreement.
26.5 Any latitude, indulgence or extension of time granted by the bank to the client shall not constitute a novation or waiver of the bank’s rights in terms of these terms and conditions. The failure by any party to enforce any provision of the agreement shall not in any way affect that party’s right to require performance of the provision at any time in the future.
26.6 Any amendment of the terms and conditions shall not constitute a novation of the agreement or of any previous obligation by the client to the bank.
26.7 The bank is entitled to change any of the terms and conditions contained in the agreement at any time. The bank will give notice of material changes by notices in the branches of the bank.
26.8 In the event that the client receives this agreement in any language other than English/Afrikaans and in the event of any conflict between those versions, the English/Afrikaans will prevail.

27.1 For the purposes of the agreement, unless the context clearly requires otherwise:
27.2 All the headings in these terms and conditions are for convenience only and are not to be taken into account for the purposes of interpreting it.

28.1 The client warrants that the client has fully and truthfully answered all questions and responded to requests for information by the bank relating to the agreement.
28.2 The client confirms that he/she understands and appreciates the risks and costs inherent in the agreement, as well as his/her rights and obligations under the agreement.