Last modified: July 2017
THESE TERMS AND CONDITIONS APPLY TO AND GOVERN YOUR PAYAPP OVERDRAFT FACILITY.
IT IS IMPORTANT THAT YOU READ AND UNDERSTAND OUR TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO THESE TERMS AND CONDITIONS THEN DO NOT REGISTER ON THE SITE.
1. CHARGES
The company may charge for the services it provides.
All charges and fees and any changes will be published on our website.
The company may charge debit interest on all overdrawn balances in accordance with the limitations set by the NCR.
The company may vary the interest rates and all fees from time to time.
2. SAFPS
I/we consent to the company carrying out identity and fraud prevention checks and sharing information relating to this my account with the South African Fraud Prevention Service ("SAFPS"). Should my/our account conduct at any time in the future reasonably cause the company to suspect that my/our accounts are being used for improper purposes, I/we consent to the company providing details of this suspicion to the SAFPS. I/we understand and agree that the record of this suspected fraud will then be available to other members of the SAFPS if they carry out credit/other checks on our name.
3. ACCOUNT/S
I/we accept if I/we do not transact on my Overdraft for 45 consecutive days, my account will be regarded as semi-dormant. If I/we do not transact on my account for a further 15 consecutive days my account will be deemed dormant, irrespective of my balance.
The company will try to contact me electronically/telephonically and will also notify me of the dormant status of my account.
If despite notification, I fail to transact on my account for a further 10 days and the balance in my account is equal to or below the minimum monthly service fee or \ fixed monthly fee, the outstanding fee will be recovered and the account deactivated or closed.
If my account has a debit balance and there has been no credit turnover (no deposit) for 36 days and over my account will be considered dormant. I will be contacted either by telephone, sms or email and requested to activate the account. If no response is received further action will be taken.