ACCOUNT OPENING 

Agreement with Nedbank

I authorise the Bank to do the following:

Open a banking account for me;

Pay all cheques, promissory notes, bills of exchange and other negotiable instruments payable at your bank purporting to be drawn, made or accepted by me and signed as hereunder and to debit such instruments to the account whether this account be in credit or otherwise; and

Debit the account from time to time with all the changes consistent with banking practice;

Accept my instructions by electronic means and treat such instructions as above. All cheques or other orders for payment of whatsoever nature are accepted for deposit or collection at the risk of the Customer.

Where any cheque or order is unpaid for any reason whatsoever, the Bank may debit the Customer with the amount previously credited if the amount is withdrawn.

The bank reserves the right and the Customer hereby authorises the bank to reverse any entries erroneously passed, with or without notice to/from the Customer, and to debit/credit the amount to the extent required to correct any erroneous entries that may have been inadvertently made by the Bank.

I understand that should the account be in debit, the indebtedness to the bank shall be determined and proven by a written certificate purporting to have been signed by an official of any Branch of the Bank, which certificate shall, upon production thereof, be binding and be prima facie proof of the contents of such certificate and of the fact that such amount is due and payable.

I warrant that:

My domicillium citandi et executandi is the residential address mention below or of which I advised the Bank in writing from time to time for all purposes in connection with the account;

The information below is true and complete.

I am aware that the use and handling of the account will be subject to such arrangements as the Bank may have in regard to the implication of the magnetic ink character recognition system as coupled with the Automated Clearing Bureau.

I authorise you to disclose all the information contained herein and/or relating to any of my accounts with the bank to all Divisions/companies and other associated companies in the group, such information to be used at their discretion.

Confidentiality and disclosure of information

The client’s personal information will be treated as confidential and will not be disclosed, except in the following circumstances:

• When the Bank is legally compelled to do so; 
• When it is in the public interest to disclose;
• When the Bank’s interest’s require disclosure; or 
• When disclosure is made at the client’s request or with his written consent. 
• The Bank is entitled to disclose information to credit reference agencies relating to the Client’s personal debts owed to the Bank.

DISCLAIMER

Online fraud in the form of phishing and keystroke logging is on the increase. Your best method of protection against these scams and the like, is to be aware of their existence, understand the risks they pose and be vigilant in recognising them so as to not respond to them. In our on-going effort to protect you, our valued client, from being a victim of these activities, we will continue to make you aware of this form of fraudulent online activity. As part of our shared responsibility in protecting your confidential details, please take note of the following:

Should you respond to any email requesting internet banking information such as your profile number, PIN and password or any personal details, and fraud is committed on your account, then you understand and agree that the bank will not be liable for any loss(es) that you may incur.

Furthermore, should you access your internet banking facility from any publicly accessible venue, such as an internet café, there is the risk of keystroke logging or spyware attacks that may compromise your details. You therefore agree that, should you do your internet banking at such a venue, the bank will not be liable for any loss(es) that you may incur. Kindly Note: In addition to the bank never using email to request your personal details, the bank will never contact you telephonically requesting electronic banking information such as your profile number, PIN or password. Please notify us immediately should this happen to you. If, however, you contact the bank to have an issue resolved, we may have to ask you for more information to assist us in resolving the issue. Should you ever be in any doubt as to why any information is requested, always verify the authenticity of the request with the bank first. The bank is responsible for ensuring that your internet banking session is secure. However, you are responsible for ensuring that you take precautions to prevent fraudulent activities on your account.