Current Account

Terms and Conditions

In addition to the General Terms and Conditions as signed by you and as amended from time to time on the Nedbank Swaziland Website, the following Terms and Conditions are applicable to the Current Account.

1. AUTHORISATION
   1. You hereby authorize Nedbank to pay all cheques, promissory notes, bills of exchange and other negotiable instruments payable purporting to be drawn, made or accepted by you and signed and to debit such instruments to the account whether such account be in credit or otherwise.
       
2. USE OF THE CARD
   1. You must, immediately when you receive the card (the relevant Nedbank card issued to you by us in our sole discretion to be used by you), insert your signature in the space provided thereon with a ballpoint pen.
   2. If you do not want the card, you must destroy it immediately without using it and also notify us in writing thereof.
   3. The card may be used only by you, the account holder or where an additional card has been issued to an additional cardholder by that cardholder.
   4. You may not cede or delegate any of your rights or obligations in respect of the card or its use.
   5. 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 your account is closed by any of the parties for whatever reason. If we allow a card transaction after the card has expired or has been cancelled, this does not mean that we have
      extended the validity term of the card.
   6. We are the owners of the card and, when your account is closed for whatever reason, you must give the card back to us (or to any person who is authorized to act on our behalf).
   7. We will, where applicable, encode the card with a PIN, which will give you the right to deposit and/or withdraw cash and/or make use of services by means of the card at compatible ATMs or other electronic devices.
   8. You must:
      1. take proper care of the card and do everything which is necessary to prevent it from being lost, stolen or wrongfully used;
      2. ensure that any record of your PIN is kept separate from the card in a safe place;
      3. not allow anybody to obtain knowledge of your PIN.
   9. If the card:
      1. is lost, stolen or used wrongfully; or
      2. is used by any person other than you; you must notify any Nedbank branch in Swaziland immediately. You must also notify any Nedbank branch in Swaziland immediately if anyone obtains knowledge of your PIN or if you have reason to believe or suspect that this has happened. If you have notified us verbally, you must confirm your verbal notification in writing within twenty-four (24) hours after the verbal notification. It is your responsibility to ensure that the Nedbank Swaziland receives every written notice.
   10. You will be liable for and must repay us all amounts we pay or have to pay if the card or PIN is used before we have had reasonable time after your notification to take the necessary action.
   11. Except where a transaction is made by means of your PIN or is requested by mail or telephone order, you must sign a sales voucher, a cash advance voucher or a refund voucher, as the case may be, every time you use the card or give the card number to a merchant. You remain liable for and must repay us all amounts we pay or have to pay in respect of your card transactions.
   12. You must be fully familiar and comply with all the applicable Exchange Control Regulations when you use the card outside the common monetary area. Card transactions made in foreign currencies will be shown on your statements in the local currency, Emalangeni.
   13. You may not use the card for any unlawful or illegal transaction and it is your duty to make sure that a transaction is lawful before you use the card.
   14. When you use an ATM you do so at your own risk and we will not be liable for any loss or theft resulting from the use of an ATM.
   15. You authorize us (which authorization may not be cancelled):
       1. to pay for any purchases, services or cash advances in respect of which the card or the card number is used and to debit the amount concerned to your account;
       2. to debit your account with the amount of the sales voucher or cash advance voucher or any other cash amount withdrawn; and
       3. to make the necessary entries to do the above and to reverse these entries when appropriate.
   16. We determine the amount of your credit facility at all times and will notify you thereof. You may not exceed the amount of your credit facility unless you have first obtained our approval. If we accept any sales voucher, cash advance voucher or other evidence of withdrawal of cash and/or purchase resulting in your credit facility being exceeded, this will not mean that we have exercised our discretion to increase your credit facility permanently.
   17. If you exceed your credit facility, we may close your account. If we do close your account, you remain liable for all amounts due in respect of your account and we will not authorize any further account transactions.
   18. We will not in any way be liable to you if any merchant or supplier does not accept the card or if we refuse to authorize any card transaction.
   19. If there are any claims or disputes between you and any merchant or supplier in respect of the nature, quality or quantity of any goods or services you obtained from the merchant or supplier or in respect of any other matter or thing, our rights to receive payment from you will not be affected in any way nor will it give anyone a right of setoff or counter-claim against us. You hereby acknowledge that no merchant or supplier is our agent.
   20. If a merchant or supplier gives you a refund, this will be credited to your account only after we have received a properly issued refund voucher from the merchant or supplier.
   21. If we are instructed in writing to stop a transaction, we will attempt to do so. However, we shall not be liable for any loss incurred, whether direct or consequential, if we fails do so.
   22. You may not use the card after it has expired and, if we cancel the card before the expiry date, you may not use it after the date on which it has been cancelled.
   23. If you want to terminate your right to use the card and/or credit facility, you must return the card to us or destroy the card, together with a written notice that you want to terminate your right. The card and/or your credit facility will then be cancelled on the day your notice and/or the card is received by a Nedbank branch in Swaziland. 
        
3. ADDITIONAL CARDS
   1. If we issue an additional card, you and the additional cardholder will be jointly and severally liable to us as co-principal debtors for all amounts due and payable to us as a result of the use of the additional card and for all obligations resulting from it.
   2. When the additional card is returned to us and all amounts due to us in respect of the use of the additional card are paid in full, we will, when you or the additional cardholder request us to do so, cancel the additional card and you will then no longer be liable to us for future debt in respect of the additional card, on the condition that we confirm to you in writing that this is the case.
   3. You hereby relinquish the benefit of the legal exceptions and/or defences of excussion, division, cession of action, no cause of debt, no value received or revision of accounts which you can or may plead to defend any claim we bring against you or both you and the third party named on the additional card, and you hereby acknowledge that you are familiar with and fully understand the meaning and effect of all the exceptions mentioned above. 
       
4. LOST CARD
   1. If your card / card number / PIN ( personal identification number) is lost, stolen and/or used wrongfully, or used by any person other than yourself or any additional card holder (or if you suspect that any of this has happened), you should notify Nedbank immediately.
   2. If you inform Nedbank telephonically or verbally, you will be provided with a reference number which you should keep safe as you might be asked for it again. Any verbal notification should be confirmed to us in writing within 24 (twenty-four) hours of the verbal notification, stating the reference number.