How It Works-Singabantu Afrika

Singabantu Afrika (PTY) Ltd is a registered legal entity REG: 2018/261242/07 and registered with SARS with VAT Number:4430282030

Standard Terms and Conditions – SABAF Accounts

 

These are the Standard terms and conditions, additional to any amendments or changes sent to you in writing, which will apply to your Debit Card Facility with Singabantu Afrika (PTY) LTD. It is very important for you to read this document and understand what your rights and obligations are. If you do not understand any of these terms and conditions when you read this document please speak to your branch consultant or contact our Consumer Sales Call Centre 012 756 4048

These SABAF Products are internal products and is not subject to FSP Regulations or NCA Regulations. Our objective is to help you grow financially and enjoy the same benefits as any other person living in South Africa. The said products are subject to their own Terms and Conditions and some may require a medical examination before any such policy or product will be effective..

Who may qualify?
Any human or person or business entity trading or living in South Africa. The supporting documents that must be accompanied by the Terms of this agreement as well as the Application form are:
A clear Copy of your Passport, South African ID Document Asylum or Permit. Proof of residence or a Police Affidavit declaring that you reside at the address you live at. The address must be a complete address with House Number Street Name, Section, Area, City and Postal Code. A valid Cellphone Number.


Benefits of the SABAF Account
Your SABAF Account is a Pay As You Transact account. This means you can use your card anywhere and everywhere.
You have access to Online Banking
You have access to Mobile Banking.
You can allow debit orders.
Make payments for online purchases.
SABAF Account holders can apply for Affordable Short Term Loans from SABAF.

Default and acceleration
Any amount that is in default, arrears or overdue under this agreement will bear a 1.5% and such interest will be calculated daily and capitalised monthly. I understand that if I die, commit any act of insolvency or fail to make at least the Minimum Payment as set out in the Cost of Credit section of the Pre-Agreement and Quote, I will be in default with my agreement and the full amount outstanding will immediately become due, owing and payable and Singabantu Afrika (PTY) LTD will have the right to cancel this agreement. In such event I will be liable to pay Singabantu Afrika (PTY) LTD default administration charges in terms of this agreement.

Hold on card account
Singabantu Afrika (PTY) LTD may set aside or place an amount on hold on my card account, in respect of any transaction, either on the day the transaction is presented to Singabantu Afrika (PTY) LTD for authorisation or on the day Singabantu Afrika (PTY) LTD receives notice of the transaction. I am not entitled to stop a payment in respect of a transaction for which Singabantu Afrika (PTY) LTD has set aside an amount or placed a hold on my card account, nor am I entitled to use any funds that have been set aside for a transaction by Singabantu Afrika (PTY) LTD.

Termination of Account by Singabantu Afrika (PTY) LTD
Termination by Singabantu Afrika (PTY) LTD Singabantu Afrika (PTY) LTD will be entitled to terminate this agreement if I am in default after notice has been given to me advising me of my rights. In the event that I fail to settle many outstanding amounts as set out in the Cost of Card Facility section, I will be in default with my agreement and Singabantu Afrika (PTY) LTD may institute legal action against me, which could result in a court granting a judgment against me and I understand that my property could be attached and sold and/or a portion of my salary could be attached to recover the outstanding amount. This would mean that I would have a bad credit record. If your SABAF Account is dormant, this means that there were no transactions on the account, SABAF will terminate the account within 30 days of sending you an SMS.

Termination of Account by Card Holder
I may terminate this agreement in writing at any time as long as I give Singabantu Afrika (PTY) LTD notice of my intention to do so and provided that the unpaid balance of the Cost of Debit Card, together with the unpaid interest charges and all other fees and charges payable by me to Singabantu Afrika (PTY) LTD, calculated up to the date of termination are paid. Upon Singabantu Afrika (PTY) LTD receiving written instructions from me, Singabantu Afrika (PTY) LTD will pay any funds available in the card account in accordance with such written instructions. Singabantu Afrika (PTY) LTD will be entitled to terminate this agreement and close the card account by giving me at least 10 (ten) business days written notice of its intension to terminate the agreement. Upon the termination of this agreement, for whatever reason, I will be unable to use my card. Singabantu Afrika (PTY) LTD has the right to continue debiting the card account with the monthly deductions to settle any arrears interest and / or card transactions effected before or after the closure or termination of the card account until my account has been settled in full. My liability (and the liability of all other persons, if any, in whose name the card account is maintained) to Singabantu Afrika (PTY) LTD under this agreement for any balance due to Singabantu Afrika (PTY) LTD will continue, until it is settled in full.

Liability of cardholders
Singabantu Afrika (PTY) LTD may debit my card account with the amount of all authorised card transactions and/or cash advances and associated fees. Singabantu Afrika (PTY) LTD may also debit my card account for unauthorised transactions where such transactions were concluded using my PIN or signature, where I failed to cancel the card in accordance with the procedure set out in this agreement, or where I failed to notify Singabantu Afrika (PTY) LTD of the card being lost and/or stolen

Spending and/or Credit Limits
Singabantu Afrika (PTY) LTD has set an overall credit limit in respect of the card account. I agree that I, together with any supplementary cardholder(s) will not exceed the credit limit set by Singabantu Afrika (PTY) LTD in respect of my card account. Singabantu Afrika (PTY) LTD has set a minimum balance of R69,00 in place on my card to ensure that the minimum fee is paid for the Admin Management amount.

Dispute with Merchants/Non-acceptance of Cards
Singabantu Afrika (PTY) LTD will not be liable in any way:
• Should the card or PIN be rejected by a merchant or any terminal used to process card transactions or if Singabantu Afrika (PTY) LTD refuses for any reason to authorise any card transaction;
• For any delay or inability on Singabantu Afrika (PTY) LTD’s part to perform any of its obligation under this agreement because of any electronic, mechanical, system, data processing or telecommunication defect or failure, Act of God, civil disturbance or any event outside Singabantu Afrika (PTY) LTD’s control or the control of any of its servants, agents or contractors or any fraud or forgery; or
• For any delay or inability on Singabantu Afrika (PTY) LTD’s part to perform any of its obligations under this Agreement because of any electronic, mechanical, system, data processing or telecommunication defect or failure, Act of God, civil disturbance or any event outside Singabantu Afrika (PTY) LTD’s control or the control of any of its servants, agents or contractors or any fraud or forgery or;
• For any damage to or loss or inability to retrieve any data or information that may be stored in the card or any microchip or circuit or device in the card. Singabantu Afrika (PTY) LTD may also refuse to authorise any card transaction that I wish to effect even though such card transaction would not cause the card limit set to be exceeded.

Problems with Goods and Services
Singabantu Afrika (PTY) LTD will not be liable in any way should I encounter any problems with the goods and services that I obtain through the use of the card, nor is Singabantu Afrika (PTY) LTD responsible for any benefits, discounts or programmes of any merchant that Singabantu Afrika (PTY) LTD makes available to me. In spite of the non delivery or nonperformance or defects in any such goods and services, I will pay Singabantu Afrika (PTY) LTD the full amount shown in the statement of account.

Conclusiveness of Documents and Certificates
Any of Singabantu Afrika (PTY) LTD’s records relating to any card transactions with my signature and/ or PIN are conclusive evidence of their accuracy and authenticity and shall be binding on me for all purposes, unless I prove otherwise.

Additional Benefits, Services and Programmes
Singabantu Afrika (PTY) LTD may provide additional services, benefits or programmes in connection with the use of the card. Such additional services where provided, do not form part of Singabantu Afrika (PTY) LTD’s legal relationship with me and Singabantu Afrika (PTY) LTD may withdraw or change these services at any time without notice to me. Those additional services, benefits or programmes may be subject to the discretion of theSingabantu Afrika (Pty) Ltd Directors, which will be supplied to me in writing from time to time as they may change In benefit to me, SABAF can debit R60,00 per month from my SABAF Account to partake in the Singabantu Afrika (PTY) Ltd wealth building programme.

Salary Transfer
I understand that when my employer transfers my salary into my debit card my employer must use my ID or Passport number as the Beneficiary Reference to avoid transaction delays and must send a Notice of payment to banking@singabantuafrika.com. I understand that it is my responsibility to update my employer of the important details as set out in the Salary Transfer terms. I understand that should my employer have more than one employee who holds a Singabantu Afrika (PTY) Ltd bank account that my employer will make a lump sum payment and submit an Employee Schedule which will indicate the salary distribution to allocated my entitled portion on the bulk payment..

Transfer Period
I understand that when money is paid into the Singabantu Afrika (PTY) LTD account the transfer to my Pay Card, the moneys will reflect within three working days.

Credit Availability
I understand that the Account provided is a Pay as you go Self-funded card. That there is no credit available on the card other than that which I load onto the card.

Short Term Loans
I may apply for a short term loan from Singabantu Afrika (PTY) LTD once my Singabantu Afrika (PTY) LTD account has matured. I understand that the maturity of my account is subject to the cash flow into my Singabantu Afrika (PTY) LTD account vs expenditure out of my SABAF Account. I understand that Singabantu Afrika (PTY) LTD may approve or reject my loan based on the track record of Funds and the Maturity of my account. I also agree and understand that the Singabantu Afrika (PTY) LTD interest rate may be subjected to a Transactional sliding scale but will never exceed 25% for an unsecured loan.

Password and Security
I am solely responsible for maintaining the confidentiality of the PIN, password, and registration information and undertake to take all reasonable precautions to ensure that my PIN/password, including while I key-in the PIN/ password at a computer or other machine, is not revealed to a third party. I acknowledge that Singabantu Afrika (PTY) LTD will not be liable for any loss or damage arising from my failure to comply with these security measures and / or the duties set out below. My card and PIN / password are reserved strictly for my own use. Where the card is used by someone else, I will be required to prove that I took all reasonable precautions to protect these items.

Duty to Prevent Loss/Theft/Fraud and Notification to Singabantu Afrika (PTY) LTD
I agree to keep my card secure and will ensure that the card account number and PIN are not disclosed to any other person. Should I discover that my card is lost, stolen or used in an unauthorised way or retained by an ATM or another person has obtained the PIN, I will immediately notify Singabantu Afrika (PTY) LTD of the loss / theft or unauthorized use by calling Singabantu Afrika (PTY) LTD’s Card Client Service Centre at (012) 756-4048 or the Card Operations Services on 011 207 1600 or 011 695 3500 and confirm such telephone call in writing within 7 (seven) days by quoting my account number to Singabantu Afrika (PTY) LTD, Card Division, PO Box 65 Postnet Suite X1028 Lyttleton, 0140. Singabantu Afrika (PTY) LTD will block the card account against any potential misuse, as soon as reasonably possible after notification. In certain circumstances, Singabantu Afrika (PTY) LTD may also require that I report the incident to the police, and that such report be accompanied by a written confirmation of the loss / theft / disclosure and any other information that Singabantu Afrika (PTY) LTD may require. I will obtain a reference number from Singabantu Afrika (PTY) LTD confirming the report. I consent to the disclosure to third parties of such information as is relevant concerning the account in connection with such loss, theft or possible misuse of the card. If the card is found after it has been reported to Singabantu Afrika (PTY) LTD, as having been lost, or stolen or misused then I will destroy it and any additional card by cutting it / them in half across the magnetic strip and chip and disposing of it / them

Payment and Deduction Due Dates
Monthly Administration fees will be deducted from my account on the 1st of every month. Transactional Fees will be deducted immediately when a transaction if authorized as described in the Standard Terms and Conditions under Liability Of Card Holders. It is my responsibility to ensure that there is a positive amount in my card to ensure that my account does not fall in arrears.

Addresses for receiving of documents
Any document that either party wishes to send to the other must be sent to the address set out in the Account Opening Forms If such document is:
• Sent by ordinary mail in a correctly addressed envelope to the other party’s chosen address, it will be considered as received on the 7th (seventh) day after posting (unless the contrary is proved); or
• Delivered by hand to a responsible person during ordinary business hours at the other party’s chosen address, it will be considered as received on the day of delivery; or
• Transmitted by telefax to the chosen telefax number set out above or sent by electronic mail to the chosen email address, it will be considered as received on the date of transmission (unless the contrary is proved). Any document actually received by a party will be an adequate written notice or communication to that party, even though it was not sent to or delivered at the chosen address. Either party may change their address by delivering to the other party a written notice of the new address by hand, registered mail, or electronic mail.

Confidentiality
Unless Singabantu Afrika (PTY) LTD is obliged to do so by law, it will not disclose any of my confidential information without my express consent or instruction. I consent to Singabantu Afrika (PTY) LTD disclosing, reporting or releasing any fraudulent information or information relating to any unlawful activity relating to me to the South African Fraud Prevention Services (SAFPS) and / or any similar organisation or bureau, as well as reporting or releasing any credit information relating to me to any credit bureau.

Certificate
A certificate, signed by a manager employed by Singabantu Afrika (PTY) LTD (whose appointment need not be proven), reflecting the outstanding amount that is due owing and payable by me to Singabantu Afrika (PTY) LTD will be sufficient proof of my indebtedness to Singabantu Afrika (PTY) LTD for the purposes of provisional sentence, summary judgment or any other proceedings, unless I am able to prove otherwise.

Legal costs
If Singabantu Afrika (PTY) LTD has to institute any legal proceedings against me for the purposes of recovering any fees or loans that is due, owing and payable by me to Singabantu Afrika (PTY) LTD care--of SABAF, then I agree that I will pay all Singabantu Afrika (PTY) LTD care-of SABAF’s legal costs, on an attorney and client scale including tracing fees, collection commissions and all other costs that Singabantu Afrika (PTY) LTD care-of SABAF may incur.

Miscellaneous
I understand that in order for Singabantu Afrika (PTY) LTD to maintain and improve the quality of the services it provides to its customers any telephone calls that are made by or to its customers are recorded. I give my consent to Singabantu Afrika (PTY) LTD, as well as its Affiliated partners i.e FlexiPay and Merchantile, to record any telephone call between us. I agree that I will promptly notify Singabantu Afrika (PTY) LTD, in writing, of any change in my address, telephone number or employment. I also agree that I will immediately notify Singabantu Afrika (PTY) LTD if I should become insolvent, be placed under administration or have any other form of legal disability. Although I am required to comply strictly with all the obligations in terms of this agreement, Singabantu Afrika (PTY) LTD shall have the right, in its absolute discretion, to defer or waive any amount payable by me in terms of this agreement.

I understand that Singabantu Afrika (PTY) LTD may change their Admin and Transactional Fees and Rewards Programmes from time to time to promote financial empowerment or to sustain a success in itself as an entity to ensure that I can obtain the best and possible benefits from the Rewards Programme.

Rewards Programme - 
We have two rewards programs.
Standard Cashback World CardHolder

1) You receive 2% Cashback from Singabantu Afrika and Shopping Points which will be allocated and paid by Cashback World to your South African bank account.
2) You will keep your Cashback and Shopping Points for your purchases through the SIngabantu Afrika Card.

SuperCashBack Program for Cardholders
1) You receive a referral commission of R4,50 for each new Cardholder from Singabantu Afrika that is paid into your Singabantu Afrika Paycard.
2) Your Cashback will be paid into a Pool that will be divided equally every 6 months and paid to your Singabantu Afrila Card. The Shopping Points will stay with Singabantu Afrika.


If you do not keep your card active in any of the Cashback programs, you will forfeit any rewards and ashbacks.

Assignment
Singabantu Afrika (PTY) LTD will be entitled to sell, cede, assign, or otherwise transfer (whether outright or as security) all or any of its rights, and / or delegate all or any of its obligations, under this agreement, to any one or more third parties and / or to retransfer all or some of those rights and / or obligations to Singabantu Afrika (PTY) LTD, in each case, without any further consent and without prior notice to me, and despite any resultant splitting of claims against me.

Access to information
I consent that Singabantu Afrika (PTY) LTD may access my account from time to time to enquire purchase histories.

Jurisdiction
I agree that any legal proceedings that Singabantu Afrika (PTY) LTD intends bringing against me, as a result of this agreement, may be bought in the Magistrate’s Court and I consent to the jurisdiction of the Magistrate’s Court.

Opening of your account
In order to activate your card we recommend a minimum deposit of R100,00 into the Singabantu Afrika (PTY) Ltd bank account to be allocated to your SABAF account. Make use of a Standard Bank ATM to deposit the money. Do Not deposit inside the bank. This saves you money.

Security and Surety
All SABAF account holders will be charged a security fee on every amount paid to their account. This security fee protects you from suspicion of money laundering. SABAF has the right to investigate transfers and fund and request documents should it be required to do so. If SABAF receives money from abroad on your behalf, SABAF is within their right to deduct any transactional costs that might have incurred from receiving such funds before making payment to your SABAF Account. SABAF does not tolerate criminal activities and will withhold any payouts and report to the authorities should suspicion arises from illegal, fraudulent and laundering transactions.


PRICES EFFECTIVE FROM 01 APRIL 2021

Admin Fees                                          - Card issuing FEE - When making a deposit into the Singabantu Afrika Bank Account. (Non Refundable)

EFT/CASH – R150.00                          ATM Deposit: R200                          In branch Deposit : R250.00

Monthly Bank Charge                                        45,00   

This is your monthly Admin Fee to maintain your account open. Note that this fee will be charged on the date that you open your account and then on the 1st of every month thereafter. You need to deposit R100,00 into your account every month to keep your account active.

Security Transaction Fee                                 R9,00 (This is called a FICA Fee)

We charge this fee on every amount deposited to our account as part of the Security transaction to eliminate fraud and money laundering.

                                       

Dormant Account Reopen:                              R65,00

If your account was not used for 3 months, this fee is charged as penalty.

Card to Card transfer                                         R5,00

To transfer money from one card to another Singabantu Afrika card

Card Replacement Fee                                     R100,00

If you lose your card and we reissue a new card for you this fee will be charged to you when collecting your card. Is payable CASH if there are no funds available in your account.

Expired Card Replacement Fee                      R100,00

All bank cards expire and the reissue of a new card is subject.

                                         

Transactional Fees Cash Withdrawals                             

ATM Cash Withdrawal Local                            R6,93 + R1,19 for every R100 or part thereof.

Local means transactions done inside South Africa.

ATM Cash Withdrawal – International           R50,00 International means transactions done outside South Africa.

                                         

Cash Deposits

STANDARDBANK ATM Cash Deposits         3% of total value.

These fees will be debited before depositing funds to your account.

ATM Cash Deposits are when you use a ATM to deposit money to account. Using this option saves your money.

STANDARDBANK In Bank Cash Deposits   10% of total value minimum charge R65,00 fee.

These fees will be debited before depositing funds to your account.

In bank Cash Deposits are when you make a Cash Deposit to the account inside the bank. Using this option is expensive. Only use this function when you make large deposits. Use ATM Teller for deposits.

                                         

Purchase Fees                                 

Point of Sale Transaction – Local                   R2.82        (FREE If you Upgrade to our New EMV Card)

Local means transactions done inside South Africa.

Point of Sale Transaction – International     R11,50 + 1.5% of the purchase value.

International means transactions done outside South Africa.

ATM Purchase (airtime)                                    R2.82

Any purchases done through an ATM Machine

Withdraw Cash at till                                          R3.53

Withdrawing Cash with purchase at any major Grocery outlets

                     

EFT Payment Fees (Beneficiary Payments)

EFT Payment via Online Banking                      R7,00

EFT Reversal/ Failed Transaction Fee              R7,00

Payment on Load EFT Fee                                 R3,80

Mobile Banking EFT Payment                            R3,80                               

SMS Fees                     

All notifications Fee per notification.                  R0.50c

You can turn this off in your online banking.

                                         

Declined Transaction Fees

ATM Decline/return – Local                              R7,00

Local means transactions done inside South Africa.

ATM Decline/return – International                R9,00

International means transactions done outside South Africa.

P.O.S Transaction Decline – Local                 R7,00

Local means transactions done inside South Africa.

P.O.S Transaction Decline International       R9,00

International means transactions done outside South Africa.

                                         

Balance Enquiries                          

ATM Balance enquiry Local                             R7,00        

Local means transactions done inside South Africa.

ATM Balance enquiry International                R7,00

International means transactions done outside South Africa.

Mobile Banking Balance Enquiry                   R2.02

Using mobile bank to query balances

IVR Balance Enquiry                                        R2.00

Phoning our call center for balances

                                         

                                         

Statement Request Fees                

30 Day Statement Request                              R4.04

Request of transactional History for a 30 day period

60 Day Statement Request                              R8.07

Request of transactional History for a 60 day period

90 Day Statement Request                              R12.11

Request of transactional History for a 90 day period

                                         

Other Fees                                       

Card Block                                                           R2,02

If you block your card due to entering your pin incorrectly

Reopen of Dormant Card:                                R45,00

If your card has not been used and you reopen it.

Transaction Dispute                                          R80.70

If you do not agree with a transaction and require us to investigate.

Over Limit Fee                                                     R5.01

Should your account go into arrears this additional fee will be charged.

Pin Change                                                          R2.37

To change your pin

Our Annual Price increases are done on 01 July of every year. Prices will increase every year based on inflation and economic growth. Singabantu Afrika (PTY) Ltd Card fees will increase on the 01st of July every year.

Communications

Contact Details for Queries, Complaints and Suggestions:

Customer Care Tel: 087 822 2696

Email:

banking@singabantuafrika.com

Website:    www.singabanuafrika.com

For Online Banking as well as our full terms and conditions. A copy of the terms and conditions will accompany your Welcome Letter.

Whatsapp Number: 074 808 2270

(whatsapp only, “please call me’s” and sms’s and phone calls will be ignored))

Postal Services:

Postnet Suite 65 Private Bag X1028 Lyttleton, 0147

Our Annual Price increases are done on 01 September every year. Prices will increase every year based on inflation and economic growth. Singabantu Afrika (PTY) Ltd Card fees will increase on the 01 September