| Term | Explanation |
| Access credentials | The way you access your digital banking services, including your access code, password, or other unique means of personal identification. |
| Agent | A third party, either a company or a person, that your bank appoints to
render a service. This can include third-party debt collection agencies that collect debts on behalf of your bank. |
| Applicable laws |
|
| ATM (automated teller machine) | A machine that you use to withdraw cash and to access other banking services, including balance enquiries and prepaid purchases. |
| Banking app | An application on your device that allows you to transfer money from one of your accounts to another, pay bills, see statements and perform other transactions. |
| Basic banking services | The opening, operation, and maintenance of transactional accounts. |
| Term | Explanation |
| POPIA | The Protection of Personal Information Act, 4 of 2013, that aims to promote the protection of personal information processed by public and private bodies; introduce certain conditions so as to establish minimum requirements for the processing of personal information; provide for the establishment of an Information Regulator to exercise certain powers and to perform certain duties and functions in terms of this Act and the Promotion of Access to Information Act, 2000; provide for the issuing of codes of conduct; provide for the rights of persons regarding unsolicited electronic communications and automated decision making; regulate the flow of personal information across the borders of the Republic; and provide for matters connected therewith. |
| Proliferation financing (PF) | Any act of providing funds or financial services that are used, in whole or in part, for the manufacture, acquisition, possession, development, export, trans-shipment, brokering, transport, transfer, stockpiling, or use of nuclear, chemical or biological weapons and their means of delivery and related materials in contravention of national laws or, where applicable, international obligations. |
| Promotional competition |
 A competition or game that we conduct for the purpose of promoting our products and/or services and where we distribute prizes to participating winners.
Take noteYour bank will apply the principles in this Code to a promotional competition where you are a:
Where the Consumer Protection Act 68 of 2008 applies. |
| Term | Explanation |
| NCA credit agreement | A credit agreement as defined in the NCA with a customer to which
the NCA applies.
Take noteYour bank will apply the NCA to a credit agreement concluded with you if you are a:
|
| Password | A string of characters that allows you to access various services (such
as digital banking, your device, or your email account) and that is also used
for identification.
Take noteIf there is any occasion that you are given a temporary password, you must change this to your own unique password. |
| Person | A natural and a juristic person.
Take noteWhere parts of this Code apply only to persons and the pronoun ‘you’ is used, it means persons in that part. |
| Personal customer |
Natural persons or sole proprietor who maintain an account or who receive other services from a bank.
Take noteWhere parts of this Code apply only to personal customers and the pronoun ‘you’ is used, it means personal customers in that part. |
| Term | Explanation |
| Fixed interest rate | An interest rate that remains unchanged and not affected by market rate fluctuations for the specified period of the loan or credit agreement or other product. |
| Integrity | To be accurate, consistent, and reliable. |
| Interest |
|
| Internet banking | An internet-based system that is provided by us and allows you to transfer money between your accounts, pay bills, see statements, and perform other transactions. |
| Juristic person |
Includes a trust, partnership, association, body of persons, body corporate, company or close corporation or similar entities with legal rights and duties either incorporated in or outside the Republic of South Africa, which has legal personality or enjoys a similar status in terms of
which it may enter into contractual relations and legal proceedings.
Take noteWhere parts of this Code apply only to juristic persons and the pronoun ‘you’ is used it means juristic persons in that part. |
| Loyalty credit or award | Any benefit or a right to goods, services, or other benefits (including points, credits, tokens, devices or other intangible or tangible things that can accrue to you) that you can accumulate and entitles you to certain goods, services or benefits that are part of a loyalty programme. |
| Term | Explanation |
| Loyalty programme |
Any arrangement or scheme where a supplier of goods or services or
a similar entity offers or grants any loyalty credit or award in connection
with a transaction or agreement to you.
Take noteYour bank will apply the principles in this Code to a loyalty programme where you are a:
AND Where the Consumer Protection Act 68 of 2008 applies. |
| Money laundering (ML) | Any activity that has or is likely to have the effect of concealing or disguising the nature, source, location, disposition, or movement of the proceeds of unlawful activities, or any interest that anyone has in such proceeds. |
| Natural person |
An individual and sole proprietor.
Take noteWhere parts of this Code apply only to a natural person and the pronoun ‘you’ is used, it means a natural person in that part. |
| NCA | The National Credit Act, 34 of 2005, that aims to regulate the business of credit providers and places a variety of obligations on credit providers (mainly aimed at protecting credit consumers), including the prevention of reckless lending practices and measures to enhance disclosure of information to credit consumers. |
| Term | Explanation |
| Promotional offer |
An offer we make you of a prize, a reward, gift, free goods or services,
a price reduction or other benefit, such as a voucher entitling you to a
price reduction or other benefit.
Take noteYour bank will apply the principles in this Code to a promotional offer where you are a: OR
Where the Consumer Protection Act 68 of 2008 applies. |
| Reasonable | Justifiable and comparable to the service provided. |
| Sanctions |
Restrictions on activities that relate to particular countries, goods and services, or persons and entities.
Take noteSouth Africa implements the targeted financial sanctions (TFS) that originate from the United Nations Security Council resolutions under Chapter VII of the Charter of the United Nations (UNSCR). For these sanctions to be given effect FICA requires accountable institutions to freeze property and transactions pursuant to financial sanctions imposed in the UNSCR. |
| Security |
Items of value, such as a mortgage bond registered over a property,
share certificates and life policies, which represent assets used as support
for a loan or other credit facilities.
Take noteIf you do not repay the loan for which you have provided security, we have the right to dispose of the security. |
| Term | Explanation |
| Personal information |
Information relating to an identifiable, living, natural person and, where it
is applicable, an identifiable, existing juristic person, including, but not
limited to:
|
| Phishing | The fraudulent practice of sending emails or other messages claiming to be from reputable companies to make individuals reveal personal information, such as passwords and credit card numbers. |
| PIN (personal identification number) | A number that is provided to you or that you choose on a strictly confidential basis, such as a card PIN that will enable you to draw cash and access other services from an ATM or point-of-sale device and that can also be used as an authentication mechanism. |
| Term | Explanation |
| Promotional offer |
An offer we make you of a prize, a reward, gift, free goods or services,
a price reduction or other benefit, such as a voucher entitling you to a
price reduction or other benefit.
Take noteYour bank will apply the principles in this Code to a promotional offer where you are a: OR
Where the Consumer Protection Act 68 of 2008 applies. |
| Reasonable | Justifiable and comparable to the service provided. |
| Sanctions |
Restrictions on activities that relate to particular countries, goods and services, or persons and entities.
Take noteSouth Africa implements the targeted financial sanctions (TFS) that originate from the United Nations Security Council resolutions under Chapter VII of the Charter of the United Nations (UNSCR). For these sanctions to be given effect FICA requires accountable institutions to freeze property and transactions pursuant to financial sanctions imposed in the UNSCR. |
| Security |
Items of value, such as a mortgage bond registered over a property,
share certificates and life policies, which represent assets used as support
for a loan or other credit facilities.
Take noteIf you do not repay the loan for which you have provided security, we have the right to dispose of the security. |
| Term | Explanation |
| Credit agreement |
A legal contract in terms of which we lend you a certain amount of money
for a specified period or finance movable goods and that outlines the
terms and conditions associated with the contract, including your periodic
repayments of the loan plus interest or, in the event of a lease, the monthly
rental. The NCA does not apply to your credit agreement with your bank if:
|
| Customer |
A personal customer and an SMME.
Take noteWhere parts of this Code only apply to a customer of a bank and the pronoun ‘you’ is used, it means customer in that part. |
| Debit order | A mandate, being a written, verbal, or electronic authority that you give to a service provider, allowing a service provider to debit your bank account. |
| Deposit | Putting money into an account, thereby increasing the credit balance, or reducing any debit balance. |
| Term | Explanation |
| Demand guarantee (or on-demand guarantee) |
An undertaking (promise) that someone (or an entity), called the
guarantor, gives the beneficiary of the guarantee that the guarantor will
satisfy (pay) on demand the agreed amount of money (which often relates
to the debts of another, called the principal debtor).
Take noteA demand guarantee is a primary obligation and is not dependent on the existence of any other debt or agreement. Any disputes between the parties about the underlying debt or agreement do not impact this obligation – the guarantee must be paid on demand. |
| Device | A tablet, cellphone and wearable or similar technology. |
| Device credentials | Includes but is not limited to: a password, passcode, unlock pattern and login details used as a method of accessing a device or authorising a transaction through a device. |
| Digital banking | Cellphone banking, internet banking and a banking app or other digital means. |
| Direct marketing |
Us approaching you in person or by mail or by electronic
communication, including email, SMS, and automatic calling machines, for
the direct or indirect purpose of promoting or offering to supply, in the
ordinary course of business, any goods or services to you; or requesting
you to make a donation of any kind for any reason.
Take noteAn automatic calling machine makes automated calls without human intervention. |
| Dormant account | An account on which you have initiated no activity for a period that we have established in advance and in accordance with the rules relating to the specific type of account. |
| Term | Explanation |
| Cardholder | A customer who has a card, or a secondary cardholder linked to the account of the customer. |
| Charges [or fee(s)] | An amount or amounts that we can charge in respect of a transaction, product, an account, or a service that we offer. |
| Conduct Standard for Banks, 3 of 2020 |
The standard that applies to banks in relation to our provision of financial
products and financial services. The aim of the standard is to make sure
that we treat you as our customer fairly in accordance with six treatingcustomers-
fairly outcomes, namely:
|
| Contact details |
Details that you have provided us with to contact you, such as your
address, email, telephone, and cellphone information.
Take noteWe require your address to send you communications and notices, including legal notices. |
| Term | Explanation |
| Suretyship |
An undertaking (promise) by a person called the surety, that the
surety as coprincipal (joint) debtor will pay the debts of another, called
the principal debtor, if the principal debtor fails to pay or does not
perform some other legal obligation in a contract.
Take noteA suretyship is dependent on the existence of any other debt or agreement. |
| Terrorist financing (TF) | Any activity that has, or is likely to have, the effect of concealing or disguising the nature, source, location, disposition or movement of funds for the purposes of financing any act of terrorist and related activities, as defined in regulations and/or any property in possession or under the control of a bank that is associated with specified entities (terrorists or terrorist organisations). |
| Transaction account | An account into which you can pay money or into which people can pay money to you and from which you can pay third parties. |
| Unique means of personal identification |
A selection of memorable facts and information of a private and
personal nature that you choose and of which only you know the sequence.
Take noteYou can use the selection of facts and information for identification and for verifying identification when accessing accounts. |
| Username | A sequence of characters used by a person to access a computer, network, or other digital banking services, such as internet banking. |
| Verification | The process of confirming the accuracy or validity of information provided by you, by comparing it against information contained in documents or electronic databases created by reliable and independent third-party sources. |
| Vishing | The fraudulent practice of making phone calls or leaving voice messages claiming to be from reputable companies to make individuals reveal personal information, such as bank details and credit card numbers. |
| Term | Explanation |
| Demand guarantee (or on-demand guarantee) |
An undertaking (promise) that someone (or an entity), called the
guarantor, gives the beneficiary of the guarantee that the guarantor will
satisfy (pay) on demand the agreed amount of money (which often relates
to the debts of another, called the principal debtor).
Take noteA demand guarantee is a primary obligation and is not dependent on the existence of any other debt or agreement. Any disputes between the parties about the underlying debt or agreement do not impact this obligation – the guarantee must be paid on demand. |
| Device | A tablet, cellphone and wearable or similar technology. |
| Device credentials | Includes but is not limited to: a password, passcode, unlock pattern and login details used as a method of accessing a device or authorising a transaction through a device. |
| Digital banking | Cellphone banking, internet banking and a banking app or other digital means. |
| Direct marketing |
Us approaching you in person or by mail or by electronic
communication, including email, SMS, and automatic calling machines, for
the direct or indirect purpose of promoting or offering to supply, in the
ordinary course of business, any goods or services to you; or requesting
you to make a donation of any kind for any reason.
Take noteAn automatic calling machine makes automated calls without human intervention. |
| Dormant account | An account on which you have initiated no activity for a period that we have established in advance and in accordance with the rules relating to the specific type of account. |
| Term | Explanation |
| Access credentials | The way you access your digital banking services, including your access code, password, or other unique means of personal identification. |
| Agent | A third party, either a company or a person, that your bank appoints to
render a service. This can include third-party debt collection agencies that collect debts on behalf of your bank. |
| Applicable laws |
|
| ATM (automated teller machine) | A machine that you use to withdraw cash and to access other banking services, including balance enquiries and prepaid purchases. |
| Banking app | An application on your device that allows you to transfer money from one of your accounts to another, pay bills, see statements and perform other transactions. |
| Basic banking services | The opening, operation, and maintenance of transactional accounts. |
| Term | Explanation |
| Electronic wallet | An electronic or digital container in which you can securely store value or add a card (typically including technologies to interface with point-of-sale devices, such as QR code scanners, near-field communications, and other wireless communication technologies), thereby providing a secure means of transacting and transferring value between you and businesses. |
| Email compromise | A type of cybercrime where the fraudster or scammer uses email to trick someone into sending money or divulging confidential information. |
| Exchange rate | The current market price at which one currency can be exchanged for another. |
| Fee(s) (or charges) | An amount or amounts that we can charge in respect of a transaction, a product, an account, or a service that we offer. |
| FICA |
The Financial Intelligence Centre Act, No 38 of 2001 (FICA) (as amended).
Take noteThis legal framework exists to help identify the proceeds of unlawful activities and to combat activities related to money laundering, terrorist funding and tax evasion. |
| Financial difficulties | Any circumstances that can have an adverse effect on your financial ability to fulfil contractual obligations in terms of agreements you entered into. |
| Financial education |
The method by which customers:
|