Terms & Conditions

You are reading this document because you are interested in establishing a relationship with GoTyme Bank, formerly Tyme Bank Limited (‘GoTyme / GoTyme Bank’). This relationship will mean GoTyme is able to provide you with a set of bank accounts (‘Accounts’) and/or other products and services (‘Products’). The words ‘we’, ‘us’ and ‘our’ mean GoTyme. The words ‘you’ and ‘your’ mean you, the person interested in opening Accounts with us or using our Products.
When you apply to open your Accounts or use any of our Products you are agreeing to start a contractual relationship with us. This document is the agreement between you and us (‘Agreement’) and it sets out the terms and conditions (‘Terms’) that will apply to your contractual relationship with us.
You can access and view a copy of this Agreement on our website.
It is important that you read and understand everything in this document before you agree to these Terms. Any term that is in bold print is very important. You must read the bold print very carefully.
If you agree to these Terms and use our Products, it means that you understand and accept everything in the Terms, including the important terms in bold print.
If there is anything in these Terms that you do not understand, please call us on 0860 999 119 as soon as possible to ask for more information. It is important that you do this before using our Products.

Before you can enter this Agreement

If you want to enter into this Agreement:

- you must be 16 years or older;
- you must have a valid South African identity number;
- your photograph and fingerprints (‘biometric information’) must be on the Department of Home Affairs’ HANIS database; and
- your information must be available with a credit bureau.

When you send your Application to us, and every time you give us any instruction about your Accounts, you confirm to us that the following information is true and correct, and that we can rely on this information:

- it is completely legal for you to accept these Terms, to transact with us, and to perform your obligations under these Terms;
- if you are acting for another person, they have given you permission to act for them;
- if you allow someone to act for you and do anything in relation to your accounts, that person also agrees with these Terms;
- you will not use our name or any of our trademarks or marketing material if:

- you do not first get our written permission;
- you are above the age of 16;
- you have agreed to these Terms; and
- you have given us information which is true and correct, and we can rely on this information.

If any of the information in 2.2 above is not true and correct, we will not enter into the Agreement with you, or open Accounts for you, or provide you with our Products.
If we find out later that any of the information above was not true and correct, we have the right to close your Accounts, or stop you from accessing your Accounts or using our Products until you confirm to us that the information is true and correct. If any of the information you have given us changes, you agree to tell us about the changes as soon as possible using any of our Channels that are available to you.
We will give you reasonable notice before closing your Accounts, or before stopping you from accessing your Accounts or using our Products, unless the law forces us to act immediately. ‘Reasonable notice’ means we will tell you before we do anything if this is possible in the situation.
If we decide not to open Accounts for you or not to let you use our Products, we will give you the reasons for our decision if you ask us for them. If you are unhappy with the reasons we give you, you can lay a complaint against us using the information we give you in the Complaints section.

Changes to these Terms

We will always explain any changes to these Terms to you.
If we change these Terms in a way that benefits you and does not change any of your obligations, we will explain the changes to you when we make them.
If we need to change these Terms in a way that limits your rights or increases your obligations, we will explain the changes to you 30 days before they happen. You must review the changes and call us on 0860 999 119 immediately if you do not understand anything.
If you do not agree to the changes, you can close your Accounts or stop using our Products at any time. You will have to pay any amounts you owe on your Accounts when you close them.
If you continue to use Accounts or Products after we make the changes it means that you agree to the changes.
TymeBank Terms and Conditions (Pre-January 2026)

From 22 January 2026, these GoTyme Bank Terms and Conditions will effectively replace the entirety of the TymeBank Terms and Conditions in respect of all existing and new customers, unless stated otherwise under these GoTyme Bank Terms and Conditions. This in no way affects the existing contractual relationship between you and TymeBank (now referred to as GoTyme) and your continued use of our banking products and services will be subject to these GoTyme Terms and Conditions.

Additional Terms

When you send your Application to us, and every time you use our Products, you will use one or more of our platforms (‘Channels’). The Agreement between you and us includes the terms and conditions (‘Channel Terms’) for the Channels you use.
In the future, you may start to use Products and Channels that were not part of your first agreement with us. If you choose to use additional Products or Channels, the Agreement between you and us will automatically include the terms and conditions for the additional Products or Channels.
If the additional terms and conditions conflict or clash with any of these Terms, the additional terms and conditions will apply to any Products or Channels you use.

Fees

You agree to pay the fees and charges (‘Fees’) for the Accounts or Products we provide to you, including monthly fees, and transaction fees. You also agree to pay any costs which we must pay when we perform our obligations under these Terms, including administration fees, commissions, and taxes. You can find information about our Fees and additional costs (‘pricing guides’) on our website or by calling 0860 999 119.
You agree that we can charge any Fees and additional costs to you either immediately when you use a product or service, or once a month for the Products you used during the month.
You agree that we can take (‘deduct’) any Fees and additional costs you owe us directly from any Accounts you have with us.
We can change the Fees and additional costs we charge for your Accounts and Products. If we need to change or add any Fees or additional costs for your Accounts or Products, we will tell you about these 30 days before the changes happen, using the contact details you have given us. You must review the changes and contact us on 0860 999 119 immediately if you do not understand anything.
If you do not agree to the changes, you can close your Accounts or stop using our Products at any time. You will have to pay any amounts you owe on your Accounts when you close them.
If you continue to use our Products after we make the changes it means that you agree to the changes.
If you think the changes are unfair to you, you can lay a complaint against us using the information we give you in the Complaints section.
Where no credit or debits are processed to your Account(s) during the statement period, the Bank will not make a statement available to you.

Transaction Notifications

Transaction Notification is a messaging service that provides you with a notification when a transaction is processed on your GoTyme Bank account.
The Transaction Notification is sent to you by way of SMS to your registered mobile number on your GoTyme Bank profile, or as a device push message to the GoTyme Bank SmartApp.
Transaction Notifications assist in alerting you when a transaction, other than GoTyme Bank banking fees are processed on your account.
Transaction Notifications are a value-add service that are additional to any statement you may receive. Your statement and online or SmartApp banking profile remain the final record of transactions processed on your GoTyme Bank account.
The type and value of transactions for which you will receive a Transaction Notification may change from time to time.
Your Transaction Notification service preference can be updated electronically by using the GoTyme Bank SmartApp.
Transaction Notifications that are sent by way of SMS will attract a fee of 50c per Transaction Notification.
Transaction Notifications that are sent by way of push messages to the SmartApp, will attract no additional fees per Transaction Notification. You require mobile data or Wi-Fi access to receive Transaction Notifications, the costs of which will be for your account.
You should not only rely on the Transaction Notifications to be notified of a transaction that is processed on your GoTyme Bank account.
You must ensure that we have the correct mobile number for you on record. We will not be held responsible if you have not updated your records with us and the Transaction Notification is sent to the wrong mobile number.
Where you make use of Transaction Notifications sent to the SmartApp, you have a responsibility to ensure that you access the SmartApp to view your Transaction Notifications.
A Transaction Notification will be considered to be received by you, when we receive confirmation from our systems that an SMS was successfully sent to your phone number, or a push message was sent to the SmartApp.
We cannot guarantee the delivery of the Transaction Notification, as we are dependent on external parties to send the SMS to your selected mobile number, or push message to the SmartApp.
We accept no liability whatsoever, and you indemnify us against any loss, expense, claim or damage, whether direct or indirect, arising from the use of the Transaction Notification services, or arising from any delay or failure by us to send a SMS or SmartApp push message, as a result of a delay or fault of a network operator, outdated contact information on our records, or you have not accessed your SmartApp or SMSs to see if any Transaction Notifications were received.
We make no representation or warranty, whether express or implied, as to the operation and functionality of the Transaction Notification service.
If you dispute receiving the Transaction Notification by way of SMS or SmartApp push messages, you must provide evidence that you have not received the SMS or SmartApp push message. Our system records will serve as confirmation of the date and time when the SMS or SmartApp push message was sent to you.
You must bring any suspicious or fraudulent transaction to our immediate attention by contacting us on 0860 999 119. If you do not immediately notify us of a suspicious or fraudulent transaction, you will be held liable for the transaction, as if you had authorised such transaction. You will be responsible for proving that you were not negligent in notifying us.

Credit and identity checks

You agree that we can use your photograph and fingerprints (‘biometric information’) to check your identity using information from the Department of Home Affairs (‘DHA’). We will use a database called the Home Affairs National Identification System (‘HANIS’). We will only use the biometric information that you have given us.
You agree that we can use the information you have given us to check your identity and your credit rating by contacting your employer, other banks, or credit bureaus.

Anti-Money Laundering

You accept that we must follow local and international laws to prevent money laundering, terrorism, and other organised crime.
You agree to give us any documents we might need to comply with these laws and check the information you give us about yourself. If you do not give us these documents, we can refuse to open Accounts for you or let you use our Products.
You agree that we can report information about your Accounts to local and international regulators without telling you, if the law forces us to do this.
You agree that we can close your Accounts or stop you from using your Accounts and/or Products without telling you why, if we have reason to think that your Accounts are being used illegally or if you cannot give us all documents we need to check your information.

Service interruptions

Events out of our control could cause a service interruption that stops you from accessing our Products or Channels for some time. Service interruptions can be caused by things like power failures or blackouts, system or network failures, wars, strikes, or natural disasters.
We do not have to let you know about service interruptions before they happen if we do not have enough time, but we will try to let you know before a service interruption happens if this is possible in the situation.
If a service interruption happens because of an event out of our control, our obligations to you will be suspended and we will not be responsible if we do not perform any of our obligations to you, for as long as any interruptions last.
You agree that we will not be legally responsible to you in any way because of any interruptions which were beyond our reasonable control.

Instructions

When you submit your Application to us, you agree that you will give us instructions about your Accounts using electronic channels like telephone, email, apps, or our kiosk (‘Electronic Instructions’).
You agree that we do not need to contact you when we receive your Electronic Instructions.

Taxes

You are responsible for paying all taxes that we charge you for using your Accounts or other Products we provide to you. This includes value-added tax (‘VAT’), which we must add to any Fees or additional costs we charge you. We are not responsible for letting you know about any changes in the law which affect the taxes that you pay or are due to pay.
You are responsible for paying any taxes that you owe to the South African Revenue Services (‘SARS’) because of any law. If the law requires us to process any of these payments for you, you agree that we can make the payment from your Accounts. If your balance is not enough to cover this payment, you agree that you will pay back any amount which we pay to SARS for you.
You understand and accept that we may provide or disclose any of your tax information that we may have in our possession, to any relevant tax authorities or any party authorised to audit or conduct a similar control over us for tax purposes. You acknowledge that this tax information and information about your income paid or credited to you or for the benefit of your Account(s) may be reported to the tax authorities of the country where the income comes from. Those tax authorities may provide the information to the countries where you are resident for tax purposes subject to the relevant tax regulations.
If you need more information about taxes, you can contact SARS on 0800 00 7277.

Legal Costs

If you breach any of these Terms, you agree to pay our legal costs on the scale as between attorney and client. This means that you will pay us the full amount that we must pay our attorneys. This amount can include any costs we suffer when we try to enforce our legal rights without going to court. The amount also includes the costs of taking you to court, settling our dispute with you, and enforcing a judgment awarded in our favour.

Communicating with you

It is important that we can contact you about your Accounts or your use of our Products. When you submit your Application, you may give us information like your telephone number, email address, or postal address (‘contact details’).
You agree that we can communicate with you using any of the contact details you have given us. If any of your contact details change, you must tell us using any of our Channels that are available to you.
You agree that we will contact you using the latest contact details you have given us. If you do not tell us that your contact details have changed, we will not be responsible for information being sent to the wrong person.
If your contact details are not correct and we need to contact you, you agree that we can charge you for any costs we pay to find you.
We will communicate with you using the SmartApp wherever possible. There are times when we will send you messages by push notification, SMS, WhatsApp, telephone, email, social media, messaging apps (including WhatsApp), or third-party websites. We will stick to your preference whenever we can.
If you don’t want to receive direct marketing messages from us, you can update your marketing preferences using the SmartApp, SMS, WhatsApp, email, or Kiosk, depending on what Products you have with us.

Notices and addresses

If we need to send you any communication about these Terms (‘Notice’), including notices, consents, or approvals, you agree that we can use the latest contact details you have given us. You agree that we can give you any Notice by writing to you or speaking to you.
If you need to send us any Notice, you must use one of the following contact details:

- Physical address: GoTyme Bank, Legal Department, 30 Jellicoe Avenue, Rosebank, 2196
- Email address: legal@gotyme.co.za
- Telephone: 0860 999 119

If we want to change any of these contact details, we are allowed to do this if we first write to you to tell you about the change. If any of your contact details change, you must tell us. You can tell us using any of our Channels that are available to you.
Any Notice sent by you or us will take effect when the other person (‘recipient’) receives it, or on the date specified in the Notice.
Unless you can prove that you did not receive the Notice, a Notice will be considered to be received by you in the following situations:

- when you actually receive the Notice, even if we sent or delivered it to an incorrect address or number;
- when the Notice is left at your last known home or work address;
- when we get confirmation that a message was sent to your phone number;
- one hour after we leave a telephone, mobile phone, or voice mail message for you; or
- one hour after sending an email to your email address.

Indemnity

You agree that we are not liable to you for any loss or damage you may suffer as a result of using any of our Products or Channels.
GoTyme, our directors, employees, representatives, or agents will not be liable for any loss or damage caused to you or any other person because of something we do or do not do. This includes indirect, incidental, and consequential loss or damage.
We cannot list all the situations, but we will not be liable for any loss or damage as a result of (i) the consequences of an instruction; (ii) the proper completion of an obligation under these Terms; (iii) theft of any kind (including robbery, break-in or fraud); (iv) any deficient or forged documents; (v) not discovering any forgery or from any act associated with instructions provided by you; and (vi) the use of electronic equipment, fax or the postal service as a result of delay, theft, fraud, mistake, distortion, or duplication, or (vi) closure of your Account in any of the circumstances permitted in these Terms.
You agree that you will not hold us accountable for any loss you suffer in the situations listed in clause 15.3.
You also agree to pay us for any damage, loss, costs, or expenses which we may suffer or incur as a result of you breaching any of these Terms, including (i) not having the required funds to complete any payment instructions; (ii) not providing the necessary funds following an instruction effected by you; or (iii) us receiving incorrect or unauthorised instructions from you and acting on such incorrect or unauthorised instructions, except where we have acted fraudulently or in bad faith in completing such instruction, in which case, our liability shall be restricted to any loss of interest.

Protecting Your Personal Information

When you complete your Application, and when you use our Accounts or Products, you accept that you will be giving us some of your personal information. Personal information is protected by law, including the Protection of Personal Information Act, 2013 (‘POPIA’).
We will keep any personal information you give us in a safe environment and take all reasonable steps to protect it. We have security procedures to make sure that:

- your personal information is always correct;
- your personal information is only used when necessary; and
- nobody can view or take your personal information without permission.

These security measures are detailed in our ‘Channel T&Cs’ which are available on our website or in the SmartApp
When you complete your Application, you give us permission to use your personal information in the following ways and in accordance with the terms of the GoTyme Bank Privacy Policy (available on our website):

- to check your identity
- to provide you with Products
- to create credit-scoring profiles
- to suggest other Products to you
- to prevent crimes like fraud, money laundering, or terrorism

When you complete your Application, you give us permission to share your personal information in the following ways:

- with regulators, law enforcement agencies, and government bodies when required by law
- with credit bureaus
- with fraud prevention agencies if you have given us false or incorrect information

We are required to share your personal information to SARS, the Financial Intelligence Centre (FIC), and to other regulatory bodies. To enable us to meet our obligations, you commit to inform us in writing:

- Should your contact information or address change.
- Within 90 days, should you become a tax resident in another country.

To help make sure that your personal information is safe and secure, you must keep your passwords and pins safe and secret.
When you send us any personal information and when we store your information, we encrypt it using appropriate security technologies and procedures. Encrypting makes it difficult for your personal information to be viewed or used without permission.
You have the right to ask us for details of the information we keep about you (‘data subject access request’) by emailing compliance@gotyme.co.za or calling 0860 999 119. We will give you these details as quickly as possible, but always within 40 days.
You can view our Privacy Policy on our website for more information about how we handle your personal information and how we use cookies.

Service of legal processes

If you start legal proceedings against us, we choose the following address for service of process, notice, or other documents:

- Physical address: GoTyme Bank Legal Department, 30 Jellicoe Avenue, Rosebank, 2196

If we want to change this address, we will give you reasonable notice.
You agree that if we start legal proceedings against you, we can use the latest address you have given us for service of process, notice, or other documents. If you want to change this address, you must give us reasonable notice.
Any address for service of process must be a physical address in South Africa.

Ending this Agreement

We have the right to end this Agreement, close your Accounts, or stop you from using or revoke the availability of any of our Products or Channels at any time after we give you reasonable notice.
You have the right to end this Agreement by giving us notice in writing.
If you have Accounts with us and there is money in the Accounts when this Agreement ends, or if we are closing your Accounts, you will first be given the opportunity to clear the money from your Accounts. If you do not clear the money before the Account is closed, we will take the required steps to ensure it is made available to you by other means. We will, to the extent possible, provide reasonable assistance to you to close, terminate or transfer to another bank. We will not impose any unreasonable barriers to you in these circumstances.
If there is an outstanding balance on your Account, we will request full payment for all transactions subject to any arrangements you have with us on your Account.
If this Agreement ends and/or we close your Accounts, you will not be able to use any bank cards we have given you. You must cut up your card so that nobody else can use it.
We have the right to end this Agreement, close your Accounts, or stop you from using our Products or Channels immediately in any of the following situations:

- local or international law forces us to;
- your name is on any international sanctions list;
- you breach any of the terms and conditions of our Agreement;
- you use our Accounts, Products, or Channels to commit a crime, or we reasonably suspect that you have done this;
- you use our Products or Channels to insult, threaten, or incite violence against others;
- you provided us with incorrect or insufficient information during your Application;
- you did not provide us with enough updated information.

About this Agreement

This Agreement is governed by South African law.
We and you agree to the non-exclusive jurisdiction of a South African Magistrate’s Court for any legal proceedings about this Agreement. This means that you or we can go to that Court even if the amount claimed is higher than the Court’s jurisdiction.
These Terms and any additional Product and Channel Terms are the whole Agreement between us.
If you or we do not always use all the rights we get from this Agreement, it does not mean that you or we have given up any rights. Not using a right cannot stop (‘estop’) you or us from claiming that right later if we go to court.
If any Term in this Agreement is illegal or unenforceable, that Term can be cancelled, but the other Terms will still apply.
We are allowed to cede any of the rights we get from this Agreement without your consent. This means we are allowed to transfer any of these rights to someone who is not us (‘a third party’) without getting your permission. You will then have to perform your obligations to the third party.
We are allowed to delegate any of our obligations under this Agreement without your consent. This means we are allowed to transfer any of our obligations to you to a third party without getting your permission. The third party will then perform our obligations to you.
You agree that you cannot cede any of your rights or delegate any of your obligations without first getting our permission in writing.
If we cede our rights to more than one other person, this could mean that more than one person will have a legal claim against you (‘splitting of claims’). You agree to this splitting of claims.

Complaints

If you are not happy with our service or any of our products, you can contact us to make a complaint. You can make a complaint using any of the Channels available to you, our website or SmartApp, call us on 0860 999 119 or e-mail us on complaints@gotyme.co.za. We will try to solve your complaint as quickly as possible.
If we have not resolved your dispute or complaint within 20 (twenty) days of it being submitted to us or should you not be satisfied with our response to your dispute or complaint, you also have a right to resolve a complaint by contacting or filing a complaint with the National Financial Ombud Scheme (NFO) and/or the Financial Sector Conduct Authority and/or the National Consumer Tribunal using the details below:

National Financial Ombud Scheme
0860 800 900
066 473 0157
info@nfosa.co.za
Home | NFOSA

National Consumer Tribunal
010 590 5200
registry@thenct.org.za
www.thenct.org.za

Financial Sector Conduct Authority
0800 20 37 22
info@fsca.co.za
complaints@fsca.co.za
www.fsca.co.za

Banking Products

Introduction

The following terms and conditions (‘Banking Terms’) apply to the banking Products we provide to you.
You need to agree to these Banking Terms before you can use any of our banking Accounts or Products.
If there is anything in these Banking Terms that you do not understand, please call us on 0860 999 119 as soon as possible to ask for more information. It is important that you do this before using our banking Accounts or Products.

Verified Banking Profile

Know your customer (“KYC”)

In order to become a GoTyme Bank customer and make use of any GoTyme Bank products or services, you will need a verified banking profile. In order for you to have a verified banking profile, you will need to:

- provide us with certain personal information about yourself (as requested during the account opening process and on a defined ongoing basis) in order for us to verify your identity in compliance with FICA and the risk policies of GoTyme Bank;
- accept these Terms and Conditions;
- either (i) take a clear selfie using our SmartApp or (ii) scan your fingerprint at any GoTyme Bank kiosk; and
- provide us with your home address through a paperless pocess using our SmartApp or at any GoTyme Bank Kiosk.

Repayment, interest, fees and charges

If we give you a loan, we must follow the National Credit Act, 2005 (‘NCA’), should it apply to the agreement. The NCA limits what we can do and gives you rights that we must respect. We will tell you about these rights when you take out a loan with us.
If we give you a loan, you agree to pay back the loan when we demand it.
You agree to pay interest at the rate we set on any loan that we provide to you. We will give you reasonable notice of the interest rate before we charge you. We will give you enough time to think about the interest rate before you agree to any loan. The interest rate we set will not be higher than the maximum interest rate allowed by the law, including the NCA.
You accept that we may change the credit interest rate you earn on our savings and investment products from time to time. These changes may happen when the South African Reserve Bank (‘SARB’) changes the ‘repo rate’, or at other times. We will give you notice of these changes on our website and by using the method you have chosen for us to communicate with you.

Set-off

You agree that we can use the funds in any of your Accounts and all rights you may have against us to give us a preferred security interest. This means that if you owe any other person money, we will be paid first before they can be paid.
We have a right to set-off and to hold your funds as security so that we can settle any debt or any other obligation you owe to us. You agree to settle any indebtedness to us and pay any negative balances in your Account when we demand it.
You agree that we may set-off any amount outstanding, and we will only need to notify you once we have done this. We may not set-off any amount outstanding that relates to any credit agreement that is regulated by the NCA.
We agree to only set-off a reasonable portion of your funds. This amount will be determined by what is reasonable in the circumstances. If you cannot repay your debt, you should contact us immediately to see whether we can agree to an acknowledgment of debt and a reasonable repayment offer. If you need help understanding this process, contact us on 0860 999 119.
We will not be accountable to you for any losses that arise out of or relate to any transactions, including tax consequences you may face as a result of settling any debt owed to us.
In the event we set-off your funds to settle a debt, we reserve the right to restrict or close your Account, and to seek payment of any remaining indebtedness through any legal means possible, including reporting such debt to credit agencies.
If you have any complaints about any of these set-off provisions, or if you believe that we have acted unreasonably in applying these provisions, please contact the NFO whose details are provided in the section titled ‘Complaints’ above.

Current transactional account features and benefits

General

These Current Account and Business Account Terms and Conditions set out your and our rights and obligations as they relate to the opening and use of your Current transactional bank account and/or Business Account. It is important that you read and understand these terms and conditions prior to making use of your Current Account or Business Account. You must contact GoTyme Bank if you do not understand any part of these terms and conditions.
These Current Account and Business Account Terms and Conditions comprise of:

- The Account Rules;
- The Account Terms and Conditions.

The Account Rules

GoTyme Bank offers a current personal transactional account and a business account. Each account contains its own features and qualifying criteria as determined by GoTyme Bank from time to time. Your use of the Current Account must comply with the GoTyme Bank Current Account Rules and your use of the GoTyme Bank Business Account must comply with the Business Account Rules. These Account Rules must be read together with the General Terms and Conditions.

GoTyme Bank Current Account Rules
What is the Current account?	The Current account is a personal transaction bank account that enables you to make deposits, withdrawals, card and electronic purchases.
Who qualifies for a current account?	In order to qualify for a current account you must meet the following criteria [qualifying criteria]: you must be at least 16 years old; and you are a South African citizen or permanent resident.
Minimum Balance	Unless specified otherwise by GoTyme Bank, and subject to the Account Terms and Conditions, you will not be required to maintain a minimum account balance to use and operate your Current Account.
Interest	Unless otherwise specified by GoTyme Bank, no interest is earned on the Current Account.
Use of the current account	Subject to the Account Terms and Conditions, you may only use your Current Account for personal use and to perform lawful transactions that do not pose a regulatory or reputational risk to GoTyme Bank. You may not use your current account for business purposes.

GoTyme Bank Business Account Rules
What is the Business Account?	The Business Account is a Bank account available to “sole proprietors” to receive income and make payments for their business.
Who qualifies for a current account?	In order to qualify for a GoTyme Bank business account you must meet the following criteria [qualifying criteria]: you must be at least 16 years of age; You must be a South African citizen or permanent resident; You must be a sole proprietor and operate a business as a sole proprietor. A “sole proprietor” means a business owner who operates a business that is owned and controlled by a single natural person and is not a juristic person or entity (i.e. is not registered with CIPC, a partnership, trust or close corporation); and You must provide us with all requested information/ documentation to enable us to conduct the necessary verifications and assessments.
Minimum Balance	Unless specified otherwise by GoTyme Bank, and subject to the Account Terms and Conditions, you will not be required to maintain a minimum account balance to use and operate your GoTyme Bank Business Account.
Interest	Unless otherwise specified by GoTyme Bank, no interest is earned on the Business Account.
Use of the current account	Subject to the Account Terms and Conditions, you may only use your Business Account for business purposes and to perform lawful transactions that do not pose a regulatory or reputational risk to GoTyme Bank, subject to the Account Terms and Conditions.

The Account Terms and Conditions

These Account Terms and Conditions set out the terms, rights, and obligations that apply equally to both the Current Account and the Business Account. The opening and use of a Current Account and/or a Business Account will be subject to the Account Terms and Conditions. These Account Terms and Conditions must be read together with the General Terms and Conditions.

Opening Your Account

In order to open an Account you must meet the Qualifying Criteria applicable to the Account you are opening as set out in The Account Rules (clause 25.3) and you must provide us with all requested information/documentation for us to conduct the necessary verifications and assessments.
We will not be under any obligation to open an Account for you until such time that:

- you have satisfied all of the relevant Qualifying Criteria set out in Account Rules;
- you have provided use will all requested information/documentation necessary for us to perform the required verifications and assessments; and
- all necessary verifications and assessments have been concluded.

We may at our sole discretion decline to open an Account for you and shall provide you with written reasons should we choose to do so.

Use of your Account

You acknowledge and agree to the following as it relates to the use of your particular Account:

- you shall at all times use your Account in the manner for the purpose specified in the Account Rules, in line with the Product Terms and Conditions applicable to your Account and in compliance with relevant laws;
- in the unlikely event that funds of any value are erroneously credited to your Account, you shall not make use of such funds and you authorise us to reverse such erroneous transaction and the wrongly credited amount; and
- we reserve the right to monitor the use of your Account on an on-going basis for the purpose of assessing your compliance with these Account Terms and Conditions, the Account Rules, the applicable Product Terms and Conditions and the relevant laws.

GoTyme Bank reserves the right to refuse to open or continue providing an Account to anyone we suspect is involved in illegal activities or other activities that may have a negative impact on us.

Protecting Your Account

It is your responsibility to safeguard your Account from fraud and unauthorised access by taking the necessary security precautions communicated to you by us, including keeping your login details, PIN and OTPs confidential at all times. You are solely responsible for the security of your mobile device or cellphone and must ensure that it cannot be used by any unauthorised person.
You must immediately inform us when you become aware that a suspicious or fraudulent transaction has taken place on your Account and you must open a case at your nearest South African Police Services (‘SAPS’) office. If you delay in reporting a suspicious or fraudulent transaction you will be liable (responsible) for any loss suffered by you as a result of the fraudulent or unauthorised transaction.
You acknowledge and agree to indemnify and hold harmless GoTyme Bank against any liability or harm suffered by you, GoTyme Bank or any third-party as a result of any fraudulent or unauthorised transaction on your Account, unless caused by the gross negligence or wilful misconduct of GoTyme Bank.
If you immediately inform us of any suspicious, fraudulent or unauthorised transaction on your Account, and provided that such fraudulent or unauthorised transaction was not as a result of your own negligence, GoTyme Bank shall assist you in effecting a reversal of the fraudulent or unauthorised transaction, should it be able to do so and subject to certain conditions as determined by GoTyme Bank.

Statements

An Account statement will be sent to your email on a monthly basis and be made available for you to access through any one of our Channels (for e.g. the SmartApp or Kiosk). Your Account statement will set out and be initial proof of:

- your Account balance;
- transactions processed on your Account for the month;
- deposits made into your Account for the month;
- withdrawals made from your Account in the month;
- bank fees charged to you during the month; and
- any other information pertaining to your Account.

It is your responsibility to check your statement carefully and report any mistakes or transactions done without your permission to us within 30 days from the date of the statement. If you fail to do this, we will assume that the entries and transactions shown on your Account statement are correct or done by you or with your permission.
We will not be responsible for any loss you may incur as a result of you failing to report errors or unauthorised transactions within 30 days from the date of the statement.

Closing or Suspending your Account or Cancelling a Product

If you want to close your Account

You have the right to close your Account, cancel a Product or terminate the Agreement with us by giving us notice in writing. Should you wish to terminate / cancel a product, please refer to the relevant product terms and conditions for the amount of time the notice must be given and well as the conditions and/or requirements for the termination or cancellation of the product.
If you have Accounts with us and there is money in the Accounts when this Agreement ends, or if we are closing your Accounts, you will first be given the opportunity to clear the money from your Accounts. If you do not clear the money before the Account is closed, we will take the required steps to ensure it is made available to you by other means.
If there is an outstanding balance on your Account, we will request full payment for all transactions subject to any arrangements you have with us on your Account.
If this Agreement ends and/or we or you close your Accounts, you will not be able to use any bank cards we have given you. You must cut your card so that nobody else can use it.

If we want to close or suspend your Account

We have the right to end this Agreement, close your Accounts, or stop you from using our Products or Channels immediately without notice to you in any of the following situations:

- local or international law forces us to;
- your name is on any international sanctions list;
- you breach any of the terms and conditions of our Agreement;
- you use our Accounts, Products, or Channels to commit a crime, or we reasonably suspect that you have done this;
- you use our Products or Channels to insult, threaten, or incite violence against others;
- you provided us with incorrect or insufficient information during your Application;
- you did not provide us with enough updated information;
- your conduct or the conduct of any person you are related to, including inappropriate behaviour towards our staff, does not align with GoTyme Bank’s values, or a continued relationship with you may expose GoTyme Bank to reputational or operational risks.

The reasons we give you for any actions that we take will be at our sole discretion and include, but are not limited to the reasons listed above.

Dormant Accounts

If your Account has not been used for a period of time determined by us and notified to you from time to time, it will be regarded as inactive regardless of whether or not such Account has a positive or nil balance.
If you continue not to use your inactive Account, we will regard it as dormant and we reserve our rights to close your Account.
We will notify you on the contact details we have on record upon making your account dormant. When your Account is deemed dormant, any cards or services linked to your Account which are not in arrears will also be regarded as dormant.
Monthly fees will be charged during the time that your Account is deemed inactive or dormant.

Corporation for Deposit Insurance

For the purposes of this clause:

- “CODI” means the Corporation for Deposit Insurance
- “CODI Regulations” means the Deposit Insurance Regulations made in terms of the Financial Sector Regulation Act 9 of 2017
- “Qualifying Depositor” means a holder (depositor) of this product/account, but excludes depositors that are not defined as qualifying depositors under the CODI Regulations (e.g. government institutions, banks, private corporates in the financial sector)

This product is covered by CODI, provided that the holder of this product/account is a Qualifying Depositor. This means that if you are a Qualifying Depositor, the funds deposited by you into this account/product will be covered by CODI up to the limit of cover, as specified in the CODI Regulations. You can find out more about deposit insurance, CODI and the CODI Regulations by visiting the CODI webpage of the South African Reserve Bank website.

Debit Card

Receiving your debit card: You will be issued with a Visa branded contactless chip and PIN debit card at a Kiosk. The debit card has an integrated circuit (CHIP) and an antenna for wireless communication which allows for contactless card payments by bringing the debit card into the wireless range of an enabled contactless POS device at selected merchants.
You can receive an additional debit card if you have a second current account with us. These terms and conditions apply equally to both.
You will choose a personalised PIN before receiving your debit card (keep this safe).
Debit card safety and PIN: As a cardholder, you must take proper care of the debit card and the debit card PIN. You must take all reasonable steps to prevent them from being lost, stolen, or wrongfully used. Be aware that anyone who has your debit card can perform contactless transactions, so you must keep the debit card safe.
If the debit card, the debit card number, or the PIN is lost, stolen, or used wrongfully, you must let us know immediately by calling 0860 999 119 (+27 11 327 6244 for International Calls).
Upon issue, your card, including replacements and renewals, will be automatically enrolled for verified by visa (‘VbV’) participation, which provides another level of authentication when performing an eCommerce transaction at a participating merchant.
For a transaction at a 3DSecure merchant, you will be sent a One Time PIN, which you must enter correctly in the space provided to complete the transaction. A PIN may not be required for a key entry transaction.
We may impose measures to stop or restrict the use of the debit card or debit card number if we suspect that fraudulent or illegal activity is occurring on the debit card.
Expiry and Replacement: Your debit card is valid until the last day of the month shown on the debit card. Your new debit card will be issued to you at a Kiosk.
You may request a replacement debit card if your debit card is lost, stolen, or damaged. We may charge you for a replacement debit card. This cost is available in the Fees section available on our website.
Exchange Control Regulations: You must follow all applicable exchange control regulations when using the debit card outside the Common Monetary Area (which includes Swaziland, Lesotho, Namibia, and South Africa). Any transaction or payment made in a currency other than South African Rand (“Rand”) will be converted to Rand at the Visa rate of exchange that applies on the date of processing the transaction to your accounts.
Right to debit the account or decline transactions: Each time the debit card or the debit card number (and PIN) is used to perform a transaction, we have the right to deduct this amount from your account. This right applies even if no transaction slip or cash withdrawal voucher has been signed.
Card Disputes: If you have any problems, claims, or disputes with any supplier or merchant that you use your debit card with, this will not affect our right to receive payment in any way. You will not be able to instruct us to refuse to pay the supplier. You also cannot instruct us to make a claim nor institute a counter claim against a supplier or merchant.
Any payment made by us to a supplier or merchant is final and cannot be reversed unless Visa allows it in terms of their own rules and regulations.
If a payment was made twice, you must provide proof that you tried to resolve the dispute or problem with the supplier.
You must raise any dispute about your debit card within 30 (thirty) days after the transaction date.
In these Banking Terms, you agree that no supplier or merchant is our agent. If a supplier or merchant refunds you, it will be credited to your account only after we receive a proper credit voucher from the supplier or merchant.

Cash Deposits and Withdrawals

You can deposit money by:

- Depositing cash at any PnP or Boxer till point with or without your debit card.
- You will not be able to make cheque deposits into your bank account. Your debit card has all the information needed to deposit funds into your account.

You can withdraw money by:

- Withdrawing cash at any PnP or Boxer till point with or without your debit card;
- Withdrawing cash at a Visa accepting retailer (refer to our website for the fees);
- Withdrawing cash at any ATM.

TymeBank has no control over the use of a third party bank’s ATM and the use of such ATM will be at your own risk. We are not responsible for any loss resulting from your use of an ATM or the malfunction of any such ATM. Any dispute or query arising from the use of a third party bank ATM should be raised with such relevant third party bank.

Your cash transactions will be subject to limitations based on the applicable laws

Money Vouchers

Money Vouchers is a payment service available to you as our customer, if you have funds available in your Current transactional account.
To send a Money Voucher, you simply login to the SmartApp or Internet Banking, click on Pay, select Mobile Number, enter the intended recipient’s mobile number and select “Money Voucher”, input the amount to be paid and authorise the payment.
If the mobile number is linked to a recipient who banks with us, the full amount sent will provide the option to immediately transfer into the recipient’s Current transactional account with GoTyme Bank. No fees apply when both the sender and the recipient bank with us.
If the recipient mobile number is not associated with an existing GoTyme Bank customer or PayShap ShapID, a voucher can be generated and sent to the recipient via SMS.
The voucher can be cashed out at any Boxer or PnP till point and is valid for 7 days from date of issue, after which the value will be returned to the sender.
A fee is applied when a voucher is generated. The value of the voucher is therefore the value entered by the sender less the applied fee (refer to our website for the fee).
Please check that all information is correct when you send a Money Voucher. We will not transfer the funds to a new cell phone number if the Recipient’s cell phone number changes or you enter the wrong number and the Money Voucher has been redeemed. We cannot reverse, refund or correct payments that were made to the wrong person/s and redeem the same payment.
Any Money Voucher payments not redeemed by the recipient within 7 days will be automatically reversed to the sender.

Electronic Payments, Purchases, and Transfers

Make sure that your account has enough funds available to make a payment. This includes when you make any payments, transfers, debit card purchases, value added service purchases, debit orders, or when you incur fees on the account.
We will not carry out payment instructions if there are not enough funds available in your transactional account.
Under special circumstances, we might decide to provide you with better service by allowing specific transactions can go ahead even if you have insufficient funds available in your transactional account.
If this happens, we will charge a fee for each payment instruction, and we can immediately demand repayment for the amount owing.
Payments made to other Tyme customers will be processed immediately unless processed after 22h00, in which case they will be processed by 01h00 on the following day.
If you make payments to other banks, the following cut-off times apply:

Monday - Friday	Saturday	Sunday and Public Holidays
15h00	10h00	Next available business day

You must allow for two business days for an electronic transfer to reach the account of the person you are paying at another bank (beneficiary).
We have the right to delay certain payments for fraud prevention reasons.
When making payments, we will not be responsible for any loss or damage due to errors made in setting up beneficiaries or payments.
Cancelling payment Instructions: for payments made through electronic transfers, we cannot reverse a payment instruction to another bank after it has been processed.
However, if the person we paid has an account with us, and if the account holder has given us permission to do so, we will try to reverse the transaction if this is possible.
For all electricity, data, and SMS purchases, please check that all information is correct. We won’t refund any of these transactions.

Real Time Clearing

Real Time Clearing refers to a transaction which is an interbank electronic credit payment instruction issued by the payer to the paying bank to transfer funds from the account of the payer to the account of a beneficiary, which payment instruction is delivered by the paying bank for the immediate credit of the beneficiary account.
This means that when you select to process an “Immediate EFT” transaction and the transaction is successful, it will be processed as a Real Time Clearing Transaction. This means that the value of the transaction will be made available to the beneficiary in real time. There may be a delay of up to 30 minutes for the funds to appear in the beneficiary’s account.
A Real Time Clearing transaction can only be processed to a paying bank that supports RTC transactions.
A Real Time Clearing transaction can only be processed from your Current transactional account, provided that it has sufficient funds available to pay away the transaction amount and the non-refundable transaction fee payable in respect of the transaction.
We will immediately debit your Current Account with the transaction fee payable in respect of the Real Time Clearing transaction processed on your Current Account. The fees applicable to Immediate EFTTM transactions can be found on our website of in the SmartApp.
The limits that are applicable to Real Time Clearing transactions can be found on our website or in the SmartApp.
You have the responsibility to ensure that the beneficiary information and transaction value are correct before processing the transaction, as a Real Time Clearing (“Immediate EFT”) transaction cannot be reversed. You agree to indemnify us against any losses we may suffer as a result of the beneficiary information or transaction value being incorrect.

GoalSave

General

These GoalSave Account Terms and Conditions set out the rights, obligations and processes applicable to your use of GoalSave Accounts and will take effect when you open your first GoalSave Account. It is important that you fully read, understand and comply with these GoalSave Terms and Conditions, together with the GoTyme Bank General Terms and Conditions.
If you do not understand any part of these GoalSave Terms and Conditions, it is your responsibility to contact Tyme Bank on 0860 999 119 and request an explanation before accepting any of these Terms and Conditions.

GoalSave -Terms and Conditions

Your GoalSave Account

The GoalSave Account is an interest-bearing deposit financial product that enables you to save toward short and long-term financial goals and which gives you the option to access your money either on-demand or on-notice.
Your GoalSave Account is not a transactional account. This means that you will not be able to perform any bank transactions (such as ATM withdrawals, payments, or debit orders) from any GoalSave Account. You can open and operate multiple GoalSave Accounts (up to a maximum of 10 GoalSave Accounts) at a time.
We reserve the right to monitor the use of your GoalSave Accounts on an on-going basis for the purposes of assessing your compliance with these GoalSave Terms and Conditions and the Applicable Laws. In the unlikely event that funds of any value are erroneously credited to any of your GoalSave Account, you authorise us to reverse such erroneous transaction and the wrongly credited amount.

Deposits into your GoalSave Account

You can make multiple deposits into all of your GoalSave Accounts at any time (ad-hoc or scheduled), subject to the following conditions and restrictions:

- deposits can only be made through the transfer of funds from your Current Account into the relevant GoalSave Account;
- the deposit amount that you may transfer from your Current Account into your GoalSave Account may be subject to monetary limitations; and
- the total aggregate value of daily balances across all of your GoalSave Accounts (up to a maximum of 10) at any given time may not exceed the GoalSave limit of R250 000 (which may be amended by GoTyme Bank from time to time). This means that you will not be able to deposit any further funds into any of your GoalSave Accounts if the total aggregate value of daily balances across all of your GoalSave Accounts is equal to the GoalSave limit of R250 000.

Withdrawals from your GoalSave Account

In respect of each GoalSave Account you opened, you will have the right to choose the Withdrawal Option (either a Demand Withdrawal or Notice Withdrawal as set out below) that will apply to that GoalSave Account. This means that the withdrawal of funds from a GoalSave Account will be subject to the conditions and processes of the Withdrawal Option applicable to that GoalSave Account as chosen by you in terms of the GoalSave Account Withdrawals Options below.

GoalSave Account Withdrawal Options

In respect of each GoalSave Account opened by you under these Terms and Conditions, you will have the sole right and discretion to elect the withdrawal mechanism by choosing one of the available following Withdrawal Options:

- Demand Withdrawal Option: in terms of which you can immediately access the money in your GoalSave Account and enables you to withdraw any amount from your GoalSave Account at any time (without notice) by transferring funds from your GoalSave Account to your Current Account; or
- Notice Withdrawal Option: in terms of which you can only access the money in your GoalSave Account after giving us a 10-day notice to withdraw. After the 10-day notice period, the total amount standing to the credit of your GoalSave Account (including the GoalSave Interest accrued over the life of the GoalSave Account), plus GoalSave Bonus Interest, if you qualify (see “GoalSave Bonus Interest eligibility requirements” below) will be paid into your Current Account.

Choosing your GoalSave Account’s Withdrawal Option

Your choice of Withdrawal Option will be exercised and given automatic effect when you perform one of the following withdrawal functions from your relevant GoalSave Account on the GoTyme Bank App:

- Transfer Out function: in terms of which you perform a transfer of funds from your GoalSave Account to your Current Account at any time and for any amount up to the total amount standing to the credit of your GoalSave Account at the time;
- “10-day notice” to withdraw function: in terms of which you will give us 10-days’ notice to withdraw the total amount standing to the credit of your GoalSave Account. Please note that the “10-day notice to withdraw” function will only be available on a GoalSave Account from which a Transfer Out function has not previously been performed. This means that once you perform a Transfer Out function from a GoalSave Account, you will not be able to perform a “10-days’ notice to withdraw” function from the same GoalSave Account.

You acknowledge and agree that:

- once you perform a single Transfer Out function from a GoalSave Account, we will regard that as you unconditionally and irrevocably (i) choosing to subject that GoalSave Account to the Demand Withdrawal Option; (ii) agreeing to be bound by the Demand Withdrawal Condition (set out in the “Demand Withdrawal Conditions” clause below) with immediate effect; and (iii) accepting that the rights and obligations set out in the Demand Withdrawal Conditions will become automatically applicable to your use of that GoalSave Account;
- the Notice Withdrawal Option will only be available in respect of a GoalSave Account that has not undergone a Transfer Out function (and is thus not already subject to the Demand Withdrawal Option and Conditions);
- subject to the above, once you perform a 10-day notice to withdraw function from a GoalSave Account (that is not already subject to a Demand Withdrawal Option), we will regard that as you unconditionally and irrevocably (i) choosing to subject that GoalSave Account to the Notice Withdrawal Option (ii) agreeing to be bound by the Notice Withdrawal Conditions (set out in the “Notice Withdrawal Conditions” clause below) with immediate effect; and (iii) accepting that the rights and obligations set out in the Notice Withdrawal Conditions will become automatically applicable to your use of that GoalSave Account.

Demand Withdrawal Conditions:

- Interest: a GoalSave Account that is subject to the Demand Withdrawal Option will only be entitled to earn GoalSave Interest on daily credit balances and will not qualify to earn GoalSave Bonus Interest;
- Withdrawals: you can make further withdrawals from that GoalSave Account at any time for any amount (up to the total amount standing to the credit of your GoalSave Account at the time) using the Transfer Out Function;
- Closure of the GoalSave Account: if you want to close a GoalSave Account that is subject to the Demand Withdrawal Option, you must perform a Transfer Out function from the GoalSave Account in terms of which you transfer the total amount standing to the credit of the GoalSave Account to your Current Account.

Notice Withdrawal Conditions:

- Interest: a GoalSave Account that is subject to the Notice Withdrawal Option will be entitled to:

- - earn GoalSave Interest on the daily credit balance; and
  - qualify to earn GoalSave Bonus Interest on the total amount standing to the credit of the GoalSave Account on the withdrawal notice date, provided that you also meet the GoalSave Bonus Interest requirements and conditions (as set out in the “GoalSave Bonus Interest eligibility requirements” clause) on the withdrawal notice date;
- Withdrawals and Closure of GoalSave Account: partial withdrawals are not permitted from a GoalSave Account that is subject to the Notice Withdrawal Option. Upon receipt of your notice to withdraw, the 10-day notice period will commence. At the end of the 10-day notice period:
  - the total amount standing to the credit of your GoalSave Account (including the GoalSave Interest accrued over the life of the GoalSave Account), plus GoalSave Bonus Interest, if you qualify, will be paid into your Current Account. You will not be able to access the money in your GoalSave Account during the 10-day notice period;
  - if the GoalSave Interest Rate applicable to your GoalSave Account changes during the 10-day notice period, the changed rate will be applied to your GoalSave Account for the remainder of the notice period. If this happens, the total amount paid to you at the end of the 10-day notice period (after the interest rate change) may be different from the total amount quoted to you on the date of your withdrawal notice (before the interest rate change); and
  - the GoalSave Account will be subsequently closed.

Interest

The interest rates applicable to GoalSave Account are determined by GoTyme Bank in its sole discretion. You can access information about the interest rates that apply to your respective GoalSave Account(s) by visiting our website or contacting our customer service center (0860 999 119). The interest rates applicable to your GoalSave Account(s) are subject to change from time to time. Any change in the interest rates will become immediately applicable to your GoalSave Account and will be reflected on your account statement and in the GoTyme Bank App.

GoalSave Interest

GoalSave Interest is the interest earned on each GoalSave Account from the account opening date and is calculated on the daily balance in your GoalSave Account and capitalised monthly into the same GoalSave Account. You will be entitled to earn GoalSave Interest on all GoalSave Accounts (regardless of the Withdrawal Option applicable).
That GoalSave Interest Rate quoted by us is the nominal annual compounded monthly.

GoalSave Bonus Interest

The GoalSave Bonus Interest is additional interest that you may earn over and above the GoalSave Interest, on GoalSave Accounts that are subject to the Notice Withdrawal Option.

You will earn the GoalSave Bonus Interest only if you meet the applicable eligibility requirements on your withdrawal notice date (set out in the “GoalSave Bonus Interest eligibility requirements” clause below).
The Bonus Interest is calculated on the total interest earned on your GoalSave Account on the withdrawal notice date, at the applicable GoalSave Bonus Interest Rate at that time, and is payable at the end of the 10-day notice period.

GoalSave Bonus Interest eligibility requirements: You will only be eligible to earn GoalSave Bonus Interest on your GoalSave Account (that is subject to the Notice Withdrawal Option) if:

Before 1 March 2026: You must perform 10 or more valid transactions from your Current Account for at least 3 consecutive immediately preceding the time of the Notice Withdrawal Option. Please note: A transfer from your Current Account to your GoalSave Account is not a valid transaction.
From 1 March 2026: You must give us a 10-day notice to withdraw the GoalSave on the GoTyme ZA App. Personal GoalSave Bonus Interest will be available only on GoalSave Accounts accessed via the GoTyme ZA App (i.e., the Bonus Interest will no longer be available on the TymeBank App or Internet Banking). From this date, the requirement to perform 10 or more valid transactions from your Current Account (previously referred to as the “EDA Transaction Requirement”) will no longer apply.
SME GoalSave: You must perform 10 or more valid transactions from your Current Account for at least 3 consecutive immediately preceding the time of the Notice Withdrawal Option. Please note: A transfer from your Current Account to your GoalSave Account is not a valid transaction (i.e., the Before 1 March 2026 eligibility requirements will remain unchanged)

The GoalSave Bonus Interest Rate is the rate we use to calculate the GoalSave Bonus Interest and is quoted as period effective.

Corporation for Deposit Insurance

For the purposes of this clause:

- “CODI” means the Corporation for Deposit Insurance
- “CODI Regulations” means the Deposit Insurance Regulations made in terms of the Financial Sector Regulation Act 9 of 2017
- “Qualifying Depositor” means a holder (depositor) of this product/account, but excludes depositors that are not defined as qualifying depositors under the CODI Regulations (e.g. government institutions, banks, private corporates in the financial sector).

This product is covered by CODI, provided that the holder of this product/account is a Qualifying Depositor. This means that if you are a Qualifying Depositor, the funds deposited by you into this account/product will be covered by CODI up to the limit of cover, as specified in the CODI Regulations. You can find out more about deposit insurance, CODI and the CODI Regulations by visiting the CODI webpage of the South African Reserve Bank website.

Pick n Pay Smart Shopper Programme and Transition

The Pick n Pay (“PnP”) and GoTyme Bank bonus points Smart Shopper Programme will come to an end on 31 March 2026.
As of 1 April 2026, double Smart Shopper points benefits for card payments with your GoTyme Bank debit card will no longer apply. Smart Shopper points will still be earned with instore GoTyme Bank debit card payments made at a PnP, and points will be earned in accordance with the standard Smart Shopper Programme Terms and Conditions available on the PnP website.

How to earn and spend Smart Shopper Points

SmartShopper Points will still be allocated in real-time once you have paid for your in-store PnP purchase using your GoTyme Bank debit card. You can view your Smart Shopper Points Account balance using any PnP Digital Channel listed in the Smart Shopper Programme Terms and Conditions.
- GoTyme Bank will not be responsible for any Smart Shopper points allocation offering by PnP
The use and expenditure of the Smart Shopper Points earned using your GoTyme Bank Card will be made in accordance with and subject to the Smart Shopper Programme terms and conditions available on the PnP website.

Card issues

Lost, stolen or damaged GoTyme Bank debit cards must be cancelled using Kiosk, SmartApp, or by calling the Customer Service Centre and any new debit cards issued will not be linked to your Smart Shopper Points Account.

How to earn Smart Shopper Points

You will only be entitled to earn bonus Smart Shopper Points (allocated by GoTyme Bank):

- For purchases made inside a PnP retail store (This means that you will not earn bonus Smart Shopper Points (allocated by GoTyme Bank) for online purchases made via Pick n Pay ASAP! or Mr. Delivery or for any purchase made outside of the PnP network of retailers):
  - if you pay for your in-store PnP purchase by swiping your GoTyme Bank debit card; and
  - if you swipe your GoTyme Bank debit card as your Smart Shopper Card and not your Blue Smart Shopper Card.
  - If you swipe your GoTyme Bank debit card to pay for your in-store PnP purchase, you will earn 2X Smart Shopper Points.
  - SmartShopper Points will be allocated in real-time once you have paid for your in-store PnP purchase using your GoTyme Bank debit card. You can view your Smart Shopper Points Account balance using any PnP Digital Channel listed in the Smart Shopper Programme Terms and Conditions (e.g. in-store PnP Kiosks or the PnP website).
  - GoTyme Bank and PnP reserve the right to change the Smart Shopper points allocation offering from time to time on reasonable notice to you.

How to spend your Smart Shopper Points

You can switch your Smart Shopper to your GoTyme Bank debit card or donate your Smart Shopper points to charity using any PnP Digital Channel, unless determined otherwise by PnP.
You can also use your Smart Shopper Points to pay for groceries, data or electricity by swiping your GoTyme Bank debit card as your Smart Shopper Card at the till.

Card issues

Lost, stolen or damaged debit cards must be cancelled using Kiosk, SmartApp, Internet Banking or by calling the Customer Service Centre:
- New debit cards can only be issued at a Kiosk.
- Smart Shopper points linked to a Smart Shopper profile will not be affected when a new debit card is issued.
- Smart Shopper points that have been switched to a debit card that is replaced, can be recovered from the lost, stolen, or damaged debit card by calling the Smart Shopper call centre on 0800 11 22 88.

General

GoTyme Bank reserves the right to amend to discontinue its participation in the PnP Smart Shopper Programme on reasonable notice to you. Your use of the Smart Shopper Points is subject to the Smart Shopper Programme Terms and Conditions. GoTyme Bank will not be liable for any claims or loss suffered by you as a result of your use of the Smart Shopper Points.

Channels

Introduction

The following terms and conditions (‘Channel Terms’) apply to the platforms (‘Channels’) that we use to provide products to you.
You need to agree to these Channel Terms before you can use any of our Channels. You cannot access our products without using one of our Channels.
If there is anything in these Channel Terms that you do not understand, please call us on 0860 999 119 as soon as possible to ask for more information. It is important that you do this before using our products.

Channels

We have different Channels that you can use to access our Accounts and Products:

- our website
- our internet banking site (bank.tymedigital.co.za)
- our in-store machine (‘Kiosk’)
- our mobile app (‘SmartApp’)
- our *120*543# and *130*543# USSD channel (‘USSD’)
- our WhatsApp channel (‘WhatsApp’)
- PnP and Boxer till points (‘Till’)
- our call centre (‘Customer Service Centre’)
- our in-store assistants (‘Ambassadors’)
- TFG Store Kiosks

General

You agree that you can only use our Channels to access our products and not for any other reason.
When you use our Channels, you agree that we can monitor how you use the Channels and what information you send through the Channels. We do this for security reasons to make sure that the Channels are not being used without permission, or to commit any crimes.
You agree that you may have problems using our Channels if you are outside South Africa and that we will not be responsible to you if you cannot access our products for this reason.

You agree not to

When you use our Channels, you agree not to do any of the following things:

- translate, adapt, vary, modify, violate, circumvent, reverse-engineer, decompile, disassemble, create derivative works or otherwise interfere with any element of the Channels, or assist another person to do so;
- sub-licence the use of Channels or market, distribute, publish or otherwise pass the Channels on to anyone else;
- use the Channels in any way that is illegal, against these Terms, or for any illegal purpose (for example, by hacking into or inserting malicious code or harmful data into the Channels or any connected operating system);
- collect or harvest any information or data from the Channels or our systems, or attempt to decipher any transmissions to or from the servers running any service;
- upload any content onto the Channels that is or may be considered; violent, threatening, liable to incite racial hatred, in breach of confidence or privacy obligations, discriminatory, defamatory, abusive, unlawful, pornographic, obscene, indecent, profane or which may cause annoyance or inconvenience or infringe other persons’ rights in any way.

Termination

If you end our Agreement, you will lose the right to use our Channels. We recommend that you download and save all information saved on any of our Channels before ending our Agreement or deleting any of our Channels from your devices.

Updates and changes to the Channels

You agree that we may sometimes update or change any of our Channels or the way they work for any of the following reasons:

- to add or remove features;
- to make changes or improvements;
- because any laws or regulations force us to.

If we have enough time, we will let you know about these updates or changes before they happen.
You agree that some updates to our Channels will be compulsory and that you may not be able to access your accounts if you are using an old version of one of our Channels. We will tell you about any compulsory updates.
You agree that we may discontinue any of our Channels. We will give you reasonable notice before discontinuing any of our Channels.

Channel and device security

We use technical and security measures to make sure that our Channels are secure and virus-free, and to protect your data from unauthorised access and use. This includes any information that you provide via our Customer Call Centre.
We recommend that you set up security and install anti-virus software on all devices that you use to access any of our Channels.
You agree that we cannot guarantee the security of any data you send using any of our Channels and you accept the risk of sending us this information.
You agree that we cannot guarantee that our Channels are virus free and you accept the risk of using our Channels on any of your devices.

Your responsibilities

You are responsible for keeping your login information, passwords, and PINs (‘access details’) and your devices safe, and we recommend that you take the following steps to increase their safety:

- Use passwords or fingerprints to lock your devices.
- Never save your access details on any of your devices.
- Try to remember your access details and do not write them down anywhere.
- Always log out of any of our Channels when you are finished using them.

We will never ask you to tell us your access details and you agree to keep this information safe and not share it with anyone.
If you believe any of your access details have been lost or stolen, or you believe someone else has accessed your Accounts, you must tell us as soon as possible.
If anyone else uses your details without your permission to access your Accounts, we will assume that it was you, and you agree that we will not be liable to you for any loss or damage you may suffer in this situation.
If you give your access details to any third parties, including other apps or websites, your details could easily be stolen, and you agree that we will not be liable to you for any loss or damage you may suffer in this situation.

Intellectual property

We or our licensors are the owners of all intellectual property in the Channels and their content. You may not use or reproduce any of this intellectual property without first getting our written permission.
You agree that we have an irrevocable, transferable, worldwide, royalty free, and non-exclusive licence to use and store any content that you provide or upload onto any of our Channels when you use our Channels to access our Products.

Information available on the Channels

We will try to make sure that the information displayed on our Channels is correct and up-to-date, but you agree that this will not always be possible and that we will not be liable to you for any loss or damage you may suffer in this situation.
You agree that none of the information displayed or communicated to you through our Channels amounts to investment advice from us, or an offer from us to do business with you.

SmartApp Terms of Use

General

These SmartApp Terms of Use shall apply to your access and use of both the TymeBank branded mobile app (“the TymeBank App”) and the GoTyme Bank branded mobile app (“the GoTyme App”). For the purposes of these SmartApp Terms of Use, the term “App / SmartApp” shall refer to both the TymeBank App and the GoTyme App.
By using the SmartApp, you agree to be bound by these SmartApp Terms of Use at all times and shall only use the SmartApp in line with these Terms of Use.

Use of the App

The SmartApp is a Channel through which you can open, access, view, use and manage any of our banking products and services, subject to the GoTyme General Terms and Conditions as well as the relevant Product Terms and Conditions.
The SmartApp is free to download. However, standard mobile operator data costs will be charged when you download and use the SmartApp.
Subject to your compliance with these Terms of Use, we grant you a limited, non-transferable, non-exclusive, revocable licence to use the SmartApp (which may include updates and/or upgrades) on any compatible device that you own or control and solely for the purposes set out in these Terms of Use.
We reserve the right to disable the SmartApp, at any time, if we suspect that you have failed to comply with these Terms of Use.

System and operational requirements

The SmartApp is available for compatible mobile devices (e.g. smartphones and tablets) running on IOS or Android.
You must ensure that your device’s operating system is compatible with the system requirements determined by us.
Should we release a new or updated version of the SmartApp, we may require you to download or update to the newer version to continue access and use of the SmartApp.

Permissions and Data Protection

Subject to the terms of the GoTyme Privacy Policy, you consent to us collecting and processing the following information from your device when you download and use the SmartApp:

- information that allows us to identify your specific device and SIM card;
- a four-digit PIN that you select;
- your Internet Protocol (IP) address; and
- Technical data and information about your device in order to facilitate the provision to you of software updates, product support and other services related to the SmartApp.

The SmartApp may need to access the camera and microphone on your device. It may also use your gallery, contacts, location information, and data available through other sensors. This will be for risk assessments, customisation or the provision of specific services. You will be asked for permission before the SmartApp accesses any function or information on your device. You may choose not to grant permission, but this may limit the features and benefits available as a result.

Disclaimers and Indemnities

GoTyme Bank does not guarantee continuous, uninterrupted access to the SmartApp and the operation of the SmartApp may be interfered or interrupted due to a number of circumstances and factors outside of our control.
GoTyme Bank shall not be held liable for any harm, damage or loss that is the result of:

- any failure or delay in the access and/or performance of the SmartApp to the extent caused by any event or circumstance outside our reasonable control;
- Your access or use of the SmartApp in a manner that is inconsistent with these Terms of Use;
- Your failure to use the latest version of the SmartApp; or
- Your device's inability to download, access, update or operate the SmartApp

Internet Banking

This Channel allows you to access different products and perform a variety of functions.

You may access Internet Banking off any device, as long as it has a safe internet connection.
You will need to log in with your login password. You are responsible for keeping this password safe, and you are responsible for making sure that the device that you use to access our Internet Banking is safe and secure.
We may accept that any instruction that we receive on our Internet Banking Channel in relation to your account is an instruction that you have performed. We will not be held liable if these instructions were not in fact sent by you.
We may monitor your use of our Internet Banking and collect data from your use of this Channel.
We will try our best to make sure that all of information displayed on our Internet Banking Channel is correct, however we cannot guarantee that it always will be.

Kiosk

You can find our Kiosks in PnP (until 31 March 2026) and Boxer stores and you can use them to apply for products.

Before we will accept you as a client and before you may make use of our products, you will need to set up a login PIN and/or password, if you don’t already have one.
Once we have checked who you are, you agree that any instruction that is made in your name, is an instruction from you. You cannot hold us liable for acting in terms of an instruction that is made in your name, if it later turns out that it was not you.
You can use any TFG Store Kiosk to apply for any TFG-Tyme Programme Products offered or to access any services provided to you under any of your TFG-Tyme Programme Products, subject to the Product specific terms and conditions applicable to your TFG-Tyme Programme Product as set out in this Agreement.

Customer Service Centre

Our Customer Service Centre is there for you to ask us any questions, or if you want to complain about us or any of our employees or Ambassadors.

You agree that all calls to our Customer Service Centre may be recorded. These recordings will be destroyed after 5 years unless the law forces us to destroy them sooner.
We will do our best to keep these recordings secure and confidential. You agree that you will not hold us liable if for any reason the recordings are accessed by an unauthorised person.
Before speaking to any of our Customer Service Centre operators, you might need to answer some questions. This is just to make sure that we are speaking to the right person.
Customer Service Centre operators will explain to you how to use our products, but they will never give you financial advice. You agree that no information or help you get from a Customer Service Centre operator will be viewed as financial advice.
You agree to treat our Customer Service Centre operators with respect and dignity. If you say anything to our Ambassadors that is abusive, racist, or likely to incite harm, we can report you and we may decide to end our Agreement with you.
The Customer Service Centre is available at the following times:

- Monday to Sunday 8 am - 6 pm, including public holidays.

Website

Our website is the best place for you to visit to find information about our products, our help and complaints procedures, and all our terms and conditions.

We may also advertise different products on our website, and some of these may be offered to you by different service providers. You agree that you may not hold us liable in any way for any product or service you purchase from a third party as a result of the adverts on our website.
You agree that we may monitor how you use the website so that we can use this information to improve our services. You agree that our website can use cookies to gather and make use of this information.
When you use our website, you agree that we can store your IP address and use this information to improve our services to you.
You agree that nothing on our website should be viewed as investment advice.

Tills

This Channel is not provided by the bank and we do not own or control the Tills.

If you have any questions or complaints about the Tills, you must call PnP or Boxer directly on 0800 11 22 88.

Ambassadors

You will see that we have Ambassadors available at our Kiosks to help you access our Products.

An Ambassador will never ask you for your access details and you must never share your access details with them.
Ambassadors will explain to you how to use our Kiosks, but they will never give you financial advice. You agree that no information or help you get from an Ambassador will be viewed as financial advice.
You agree that you may not hold us, or any of our Ambassadors, liable for any harm or loss you suffer as a result of any or all of the help they provide to you.
You agree to treat our Ambassadors with respect and dignity. If you say anything to our Ambassadors that is abusive, racist, or likely to incite harm, we can report you and we may decide to end our Agreement with you.

International Payments

International Payments Terms and Conditions

You may use certain GoTyme Bank products for the purposes of performing International Transactions. These International Transaction Terms and Conditions set out the rights, obligations and restrictions applicable to your use of GoTyme Bank products to perform international transactions and will apply whenever you perform an international transaction. It is important that You fully read, understand and comply with these International Terms and Conditions, together with the GoTyme Bank General Terms and Conditions.
Important: It is your responsibility to ensure that you comply with the Exchange Control Rules and Regulations of the South African Reserve Bank whenever you perform an International Transaction, subject to these International Transaction Terms and Conditions. The Exchange Control Rules and Regulations apply across all GoTyme Bank products and services that GoTyme Bank permits you to use for international transactions, including debit, virtual and credit cards issued by GoTyme Bank.
It is your responsibility to contact GoTyme Bank on 0860 999 119 and request an explanation before accepting any of these Terms and Conditions or further information exchange control regulations.

General

Transactions made outside of South Africa, Lesotho, Namibia and eSwatini (the Common Monetary Area (“CMA”)) are regarded as international transactions and will be subject at all times to the Exchange Control Rules and Regulations of the South African Reserve Bank (“Exchange Control”) and these Terms and Conditions.
GoTyme Bank Limited is a Restricted Authorised Dealer regulated under the Exchange Control Rules and Regulations. This means that there are certain exclusions and restrictions pertaining to the type of international transactions you can perform with GoTyme Bank, using GoTyme Bank products (see below).

Exclusion, limitations and restrictions

Your use of GoTyme Bank products and services to perform International Transactions will at all times be subject to the following exclusions, limitations and restriction:
All international transactions will be subject to your compliance with the Exchange Control Regulations, including allowance limits afforded to you by the South African Reserve Bank (see below);
Unless we notify you otherwise, you are not permitted and will not be able to perform international transactions using GoTyme Bank products or services, other than those set out in these International Payments Terms and Conditions;
You may only perform international payment transactions using your GoTyme Bank issued debit or virtual card;
You are not permitted to conduct or facilitate any inward international transactions in which you receive funds or deposits from outside the CMA; and
GoTyme Bank reserves the right at all times to suspend or decline to process an international transaction should:

- the transaction fail to meet these Terms and Conditions;
- you or the transactions contravene the Exchange Control Rules and Regulations;
- the transaction be made from a Current Account that is not in good standing;
- you fail to meet the Verified Banking Profile requirements;
- you fail to provide us with any additional information requested from us related to the transaction; or
- the transaction appears suspicious or unusual or if we are required by a Regulator and/or any other applicable laws to decline such the transaction.

You acknowledge and agree to indemnify and hold harmless GoTyme Bank against any loss, liability or harm suffered by you, GoTyme Bank or third-party that is as a result of GoTyme Bank declining to process an international transaction under the exclusions, limitations or restrictions set out in this clause.

Performing International Transactions

Any International Transaction or payment made in a currency other than South African Rand (“Rand”) will be converted to South African Rands at the card scheme’s (VISA or Mastercard) prevailing rate of exchange that applies on the date of processing the transaction from your Current Account. A currency conversion fee will be payable in respect of International Transactions, as determined by GoTyme Bank from time to time and available on our website.
Please note: merchants may not necessarily authorise/process the international transaction on the date of the transaction which may result in exchange rate differences. If an International Transaction is not authorised/processed on date of the transaction, you will be responsible to pay any exchange rate differences.
We may be required to report any transactions that occur outside and within the CMA to the SARB, SARS and/or the Financial Intelligence Centre (FIC). At the time of making any International Transaction, you may be required to provide us with additional information for reporting purposes.
The onus is on you, the client, to ensure that all Transactions comply with relevant laws, both local and international including monetary limits.

Exchange Control Rules and Regulations

Your responsibility to comply with Exchange Control Rules

You are responsible for complying with the Exchange Control Rules and Regulations when performing any international transaction. It is your responsibility to ensure that you are fully informed of the Exchange Control Regulatory obligations and limitations applicable to your international transaction from time to time which can be accessed from (www.resbank.co.za).
You acknowledge and agree to indemnify and hold harmless GoTyme Bank against any loss, liability or harm that you, GoTyme Bank or a third-party may suffer as a result of your failing to comply with the Exchange Control Rules and Regulations.

Single discretionary allowance limits

The Exchange Control Rules currently allows for an individual South African resident in whose name one or more cards has been issued, to make foreign currency payment, subject to following monetary limitation (your single discretionary allowance / “SDA”):

Individuals over the age of 18 years	1 000 000 (one million Rand) per calendar year.
Individuals under the age of 18 years	200 000 (two hundred thousand Rand) per calendar year.

53.1.3.2 These SDA limits are combined across financial institutions. We may not process any transactions where your limit has been reached, regardless of whether the limit was reached at another financial institution, unless you have an authorisation from the South African Reserve Bank.
The SDA limits may be changed by the SARB from time to time and can be accessed from (www.resbank.co.za). It is your responsibility to ensure you are fully aware of your SDA limits prior to performing any international transaction.
The SDA is available to be used for any legal purpose abroad as outlined in the Currency and Exchanges Manual for Authorised Dealer.

International card-based transactions rules

In terms of the Exchange Control Rules, individuals with locally issued credit and/or debit/virtual cards are permitted to make foreign currency payments for small transactions (e.g. imports over the Internet) by means of such credit and/or debit/virtual cards.
International card payments are limited to R50 000 (fifty thousand Rand) per transaction. If a singular card transaction exceeds the R50 000 limit, it may not split into multiple transactions for the purposes of evading the limitation applicable.
Please note that, notwithstanding the R50 000 limits, you will still be liable for all taxes and/or customs duties payable on goods purchased by you through an international card transaction.
You are prohibited from using an issued credit or debit/virtual card to perform any of the following transactions:

- funding any international trading accounts, including crypto assets trading accounts;
- participate in lotteries organised abroad as such participation contravenes the Lotteries Act, 1997 (Act No. 57 of 1997); or
- participate in online gambling activities which are prohibited in terms of the National Gambling Act, 2004 (Act No. 7 of 2004)

Exchange Control Regulations: Your responsibility to comply with Exchange Control Regulations

Any unused Foreign Currency purchased for travel purposes must be sold to an Authorised Dealer within 30 (thirty) days of your return to South Africa.
You are responsible for adhering to the exchange control limits as set by the SARB.
You are allowed to have in your possession a maximum of R25, 000.00 cash in Rand when travelling outside the CMA.
The Bank must report all cross-border Transactions to the SARB.
Foreign Currency purchased may only be used for the purposes for which it has been made available.
The Bank may request you to provide additional information/documentation as required in terms of the Exchange Control Rules and Regulations and/or other legislation requirements.

MoreTyme

MoreTyme Terms and Conditions

General

These MoreTyme Terms and Conditions set out your and our rights and obligations as they relate to the use of the MoreTyme product. It is important that you read and understand these terms and conditions prior to making use of the MoreTyme product. You must contact GoTyme Bank if you do not understand any part of these terms and conditions

Eligibility Criteria

In order to make use of MoreTyme, the following requirements must be met:

- You must have a biometrically verified Current Account that is in good standing (e.g. there are no holds on your account). If you have not completed the biometric verification process for your Current Account, you will not be eligible to use MoreTyme;
- You must be at least 18 years old to use MoreTyme; and
- You must be a South African citizen or a permanent resident of South Africa.

Use of MoreTyme

The MoreTyme Product enables customers, subject to these Terms and Conditions, to purchase goods and services from selected merchants (“Merchants”) and pay the purchase price in instalments over an agreed period of time as further set out in these MoreTyme Terms and Conditions.

MoreTyme Limit

Your MoreTyme Limit is the amount available to you when making a purchase from a Merchant using MoreTyme. Your MoreTyme Limit will be determined by GoTyme Bank at the time of purchase based on your financial behaviour, your Current Account balance, your usage of other GoTyme Bank products (e.g. your GoalSave Account) and the outcome of any credit checks we perform. Your MoreTyme Limit will be set out on your MoreTyme Profile and may differ at the time of purchase. GoTyme Bank reserves the right to adjust your MoreTyme Limit at any time.

Our rights and responsibilities

Provided that you meet the MoreTyme Eligibility Criteria and subject to these MoreTyme Terms and Conditions, GoTyme Bank shall make MoreTyme available to you through your MoreTyme Profile.
In respect of each purchase made by you from a Merchant using MoreTyme, GoTyme Bank shall make partial or full payment of the purchase price (“the MoreTyme Purchase Price”) to the Merchant on your behalf, depending on the value of your MoreTyme Limit. Please note:

- If your MoreTyme Limit is more than or equal to the purchase price, GoTyme Bank will make payment of the full purchase price to the Merchant. However, if your MoreTyme Limit is less than the purchase price, GoTyme Bank will only make partial payment of the purchase price up to the value of your MoreTyme Limit.
- If your MoreTyme Limit is not enough to cover the full purchase price, you may pay the difference, using funds in your Current Account, directly to the Merchant, provided that the Merchant permits partial payment of the purchase price.

We will perform credit checks when deciding if you qualify for MoreTyme, and when you use MoreTyme to make a purchase.
Details of your MoreTyme transactions can be viewed in your MoreTyme profile. If you require a statement of account, you may contact GoTyme Bank Customer Care on the telephone number 0860 999 119 to request one.

Your rights and responsibilities

Upon making use of MoreTyme to purchase goods or services from a Merchant, you acknowledge and agree to pay GoTyme Bank the MoreTyme Purchase Price (i.e. the full or partial payment made by GoTyme Bank to the Merchant on your behalf) in the instalments and over the period set out in the Repayment Terms (clause 43.15) below. If you fail to pay an instalment as set out in the Repayment Terms below, you will be liable for the payment of Late Fees and Interest as set out in the ” Missed/Late Payments: Late Fees and Interest” clause below.
It is your responsibility to safeguard your MoreTyme Profile from fraud and unauthorised access by taking the necessary security precautions communicated to you by us, including keeping your login details, PIN and OTPs confidential at all times. You are solely responsible for the security of your mobile device or cellphone and must ensure that it cannot be used by any unauthorised person.
You must immediately inform us when you become aware that a suspicious or fraudulent purchase has taken place on your MoreTyme Profile. If you delay in reporting a suspicious or fraudulent MoreTyme purchase you will be liable (responsible) for any loss suffered by you as a result of the fraudulent or unauthorised MoreTyme purchase and will be liable for the payment of the fraudulent or unauthorised MoreTyme Purchase Price.
You acknowledge and agree to indemnify and hold harmless GoTyme Bank against any liability or harm suffered by you, GoTyme Bank or any third-party as a result of any fraudulent or unauthorised purchases on your MoreTyme Profile, unless caused by the gross negligence or wilful misconduct of GoTyme Bank.

Suspension of Termination of your access to MoreTyme

If you fail to comply with the Repayment Terms, or you no longer meet the MoreTyme Eligibility Criteria, your access to the MoreTyme product may be suspended or terminated by GoTyme Bank.
GoTyme Bank reserves the right to refuse to provide or make available the MoreTyme product to anyone we suspect is involved in illegal activities or other activities that may expose us to reputational, regulatory or business risk.

Repayment Terms

Each time you use MoreTyme to purchase goods or services from a Merchant, and in return for GoTyme Bank making payment of the MoreTyme Purchase Price to the Merchant on your behalf, you acknowledge and agree to repay the MoreTyme Purchase Price on the terms set out in this clause 43.15 and 43.22 (Missed/Late Payments: Late Fees and Interest), unless determined otherwise by GoTyme Bank.

First Instalment

Upon initiating a purchase through your MoreTyme Profile, 1/3 (one-third) of the MoreTyme Purchase Price (“the First Instalment”) will become immediately due and owing by you to GoTyme Bank and payable on the day of purchase (“Date of Purchase”). The amount of the First Instalment will be specified on your MoreTyme Profile; and
In terms of the debit authorisation granted under the Authorisation to Debit clause below (the First Instalment will be deducted from your Current Account on the Date of Purchase).

Remaining Instalments

The remaining amount of the MoreTyme Purchase Price (i.e. the MoreTyme Purchase Price less the First Instalment) will be become due and owing by you to GoTyme Bank in equal instalments (“Remaining Instalments”) each payable on the MoreTyme Repayment due dates specified on your MoreTyme profile (“MoreTyme Repayment Due Date(s)”). The amount of each Remaining Instalment will be specified on your MoreTyme Profile; and
In terms of the debit authorisation granted under the “Authorisation to Debit” clause below, the Remaining Instalments will be deducted from your Current Account on the MoreTyme Repayment Due Dates specified on your MoreTyme Profile.

Authorisation to Debit

You unconditionally and irrevocably authorise GoTyme Bank to debit your Current Account:

- on the Date of Purchase for the purpose of deducting the First Instalment from the funds in your Current Account on that day; and
- on each of the MoreTyme Repayment Due Dates for the purpose of deducting the Remaining Instalments from the funds in your Current Account on those dates as specified in your MoreTyme Profile.

You acknowledge and agree that it is solely your responsibility to ensure that you have sufficient funds in your Current Account on the MoreTyme Repayment Due Date to cover the instalment amount due.

Missed/Late Payments: Late Fees and Interest

If you miss a payment or do not have sufficient funds in your Current Account on the MoreTyme Repayment Due Date, the following will apply:

- Your MoreTyme transaction and the outstanding repayment obligations will be treated and enforced by GoTyme Bank as an incidental credit agreement in terms of the National Credit Act 34 of 2005 (“the NCA”).
- A once off late payment fee of R65 will be charged to your outstanding balance.
- Subject to the NCA, interest will be charged on the outstanding balance at a rate of 2% per month. The interest is calculated daily; and
- You authorise GoTyme Bank to deduct the amount due, or the portion available, the next time funds are paid into your Current account;
- You also authorise GoTyme Bank to deduct the amount due from your Current Account, through a debit order, on the date your income is paid into your account. If your income date is on a weekend or public holiday, you authorise us to debit your Current Account the previous business day. If no funds are available, your account will be tracked, and the debit order will be processed the next time funds are available in your Current account.
- We may take action to recover the amounts due, this will negatively impact your credit profile.

Merchants and Purchases

GoTyme Bank is not a party to the agreement concluded between you and the Merchant in respect of the purchase of goods or services from the Merchant. As such, you acknowledge and agree that:

- GoTyme Bank will not be a party to any disputes between you and the Merchant and will not be under any obligation to resolve any such dispute;
- GoTyme Bank will not be held liable if the goods or services are defective or if the Merchant does not perform in terms of your agreement with the Merchant;
- You will not withhold or dispute the repayment of the MoreTyme Purchase Price to GoTyme Bank in terms of the “Repayment Terms” clause (clause 43.15) in the event that you have a dispute with the Merchant;
- Any non-delivery of goods or services, faults, defects, returns or refunds must be resolved directly with the Merchant and GoTyme Bank accepts no liability in this regard; and
- by using MoreTyme, you agree that we will never be liable for the reimbursement of a MoreTyme transaction to you for any reason, including in the event of non-delivery of goods and services due to it no longer being in business or for any other reason.

GoTyme Bank accepts no liability for any loss or damage that may occur because of the use of MoreTyme or the purchases, responsibility for purchases remains between you and the Merchant. We do not offer any warranty or guarantee regarding the Merchant, their goods or services.

Complaints

If you are not happy with our service, you can make a complaint using any of the Channels available to you; our website, call us on 0860 999 119 or e-mail us on complaints@gotyme.co.za. We will try to solve your complaint as quickly as possible.
If after 20 days we do not solve your complaint, or if you are not happy with the way we solve your complaint, you also have a right to resolve a complaint by way of alternative dispute resolution, by contacting or filing a complaint with the National Consumer Commission and/or the National Consumer Tribunal using the details below:

National Consumer Commission

012 428 7000

enquiries@thencc.org.za

The National Consumer Commission (NCC)

National Consumer Tribunal

010 590 5200

registry@thenct.org.za

www.thenct.org.za

General

If we decide to be less strict in how we apply these Terms, or delay charging fees or interest for late payments it does not mean the payment is excused or that we waive our rights to claim all amounts that are due. All rights are reserved.
This MoreTyme Product is not a regulated financial product or service, is not regulated by the Financial Sector Conduct Authority or subject to the protections afforded under financial sector laws and/or regulations;
Communication and Statements: Any legal notices and documents will be sent by email.

TymeAdvance

TymeAdvance Terms and Conditions

These TymeAdvance Terms and Conditions are applicable when you make use of TymeAdvance and form part of the General Terms and Conditions that can be viewed on our website.

By using the TymeAdvance product you confirm that you understand and accept the terms.
In order to use TymeAdvance:

- You undertake to cede your rights, title, and interest in and to your salary to us, equal to the amount advanced by us to you and you warrant that you have not ceded your salary to a third party; and
- You consent to your Personal Information being shared with our third-party service provider as set out in our Privacy Notice available on our website .

TymeAdvance allows you to access an early disbursement of a portion of your Accrued Salary as advised by us at the time of application.
We will pay the disbursement into your Transactional Bank Account within 30 minutes after we approved your application.
On Payday, your Employer will pay us the portion of your salary that we disbursed, and the balance of your salary will be paid to you by your Employer.
The disbursements made will be reflected on your Transactional Bank Account statement.
Definitions applicable to the TymeAdvance Terms and Conditions:

- “Accrued Salary” means an amount of your salary that is calculated at a daily rate, in ratio to your net monthly salary, after each day worked in the month.
- ”Ceded Rights” means your right, title and interest in and to the salary receivable under your Employment contract with your Employer equal to the value of the amount advanced to you under TymeAdvance.
- “Employer” means the person or company that has employed you to do work for a salary.
- “Payday” means the day stipulated in your employment contract on which you receive your salary.
- “TymeAdvance” means our product which allows a disbursement of a portion of your Accrued Salary prior to Payday, subject to these TymeAdvance Terms and Conditions.

Cession

You hereby pledge, cede and transfer to and in favour of us the Ceded Rights and all your rights of action arising from the Ceded Rights in accordance with the terms and conditions of these TymeAdvance Terms and Conditions.
We hereby accept the cession upon and subject to the terms of these TymeAdvance Terms and Conditions.

Duration

These TymeAdvance Terms and Conditions will become effective from the date you use TymeAdvance (“Effective Date”) and will endure until all amounts owing to us have been collected.
You agree, undertake and authorise that, as at the Effective Date, we will be entitled to collect any right, payment or other benefit relating to the Ceded Rights.

Warranties and Undertakings

You warrant, represent, and undertake in favour of us that you:

- have not ceded your right, title and interest in and to the salary to a third party;
- are not under debt counselling in terms of the National Credit Act, No. 34 of 2005;
- will remain in the employ of your Employer until Payday;
- have not tendered your resignation, been dismissed or suspended;
- you are the legal and beneficial holder of the Ceded Rights, same are valid and enforceable in every respect and you are entitled to exercise the Ceded Rights;
- the Ceded Rights are not subject to any limitation regarding their transferability;
- you will not transfer, alienate or encumber, or attempt to transfer, alienate or encumber any of the Ceded Rights;
- no Ceded Rights or any portion thereof are the subject of any litigation, arbitration, complaint, allegation, or any other claim of whatever nature;
- all of Cedent’s obligations, liabilities, responsibilities and duties have been properly and professionally discharged, in a timely manner and at a minimum in accordance with the employee contract entered into between you and the Employer; and
- are not in breach of any of its obligations under its employee contract.
- In the event that any agreement contains a prohibition against the cession of any rights, you warrant and confirm that you have obtained all requisite waivers, consents and approvals as may be required to give effect to these TymeAdvance Terms and Conditions. Such waivers, consents and approvals have been obtained in writing, and furnished on us, where applicable.
- In the event that any of the Ceded Rights become the subject of any litigation, arbitration, complaint, allegation or any other claim (“the Claim”) of whatever nature, where the cause of action arose prior to the Effective Date, and notwithstanding that the Claim is only initiated after the Effective Date, you will be liable for and indemnifies us against all and any expenses, damages and legal costs incurred by us as a result of such Claim.
- You warrant that no third party has or will for the duration of this Cession have any greater right to acquire any of the Ceded Rights.
- You hereby indemnify us against all and any damages, claims, expenses, and/ or charges arising as a direct or indirect result of a breach of any of the warranties in this clause.

By using TymeAdvance, you agree to indemnify us fully from any losses and penalties that you may suffer, arising from any dispute between you and your Employer.
In addition to the rights contained in the general terms and conditions, you will be in breach of these TymeAdvance Terms and Conditions if you cede your right, title and interest in and to your salary to a third party.

DebiCheck

DebiCheck Terms and Conditions

These terms and conditions will apply to DebiCheck debit orders processed to your GoTyme Bank account

What is DebiCheck?

DebiCheck is a specific type of debit order mandate that requires you to review and confirm the details of a debit order before it is processed and collected from your GoTyme Bank account.

How does the DebiCheck process work?

When a new DebiCheck debit order is created on your GoTyme Bank account, you will receive a notification to your cellphone or an SMS to your cellphone number informing you that a DebiCheck debit order has been initiated against your GoTyme Bank account and that your approval or rejection of the debit order mandate is required (“DebiCheck Notification/SMS”).
When you receive a DebiCheck Notification/SMS, you will be able to review the DebiCheck debit order mandate. If you recognise the debit order mandate and the details of mandate are correct, you can approve the mandate. If you do not recognise the debit order mandate or the details are incorrect, you must reject the mandate and contact Us for further information.
You can approve or reject a DebiCheck debit order by following the instructions set out in the DebiCheck Notification/SMS you receive from us. You must approve or reject the DebiCheck debit order mandate within the time period indicated in the DebiCheck Notification/SMS.
Please read our DebiCheck FAQs available in the†Help Centre for more information on how to review, accept or reject a DebiCheck debit order created on your GoTyme Bank account.

Your Responsibilities

It is your responsibility to ensure that you only approve a DebiCheck debit order that you recognise. If you do not recognise the debit order, you must reject it and contact us for more information.
If you do recognise the DebiCheck debit order, you must carefully read the details of the debit order mandate and make sure that all the information provided is correct before you approve the DebiCheck debit order mandate.
If you approve the DebiCheck debit order mandate within the time period indicated in the DebiCheck Notification/SMS, we will process the DebiCheck debit order on your GoTyme Bank Account.
If you fail to approve or reject the DebiCheck debit order mandate within the time period indicated in the DebiCheck Notification/SMS, the debit order may still be processed on your Tyme Bank account as a normal debit order and not in terms of the DebiCheck debit order payment process.
If you reject a valid DebiCheck debit order mandate, we will not process the debit order against your GoTyme Bank account and this means that:

- we will not deduct the debit order amount from your GoTyme Bank account
- the service provider/ third-party linked who created the DebiCheck debit order mandate will not receive any payment from us; and
- you will be liable to the service provider/third-party for the unpaid amount or any loss incurred as a result.

Your approval of a DebiCheck debit order mandate (even if the debit order mandate is invalid or incorrect) will be regarded by us as permission for us to process the DebiCheck debit order on your GoTyme Bank account and pay the debited amount to the service provider / third-party linked who created the DebiCheck debit order.
You will not hold us liable for any loss you may suffer as a result of us processing an invalid or incorrect debit order mandate that you have approved.
It is your responsibility to make sure that the cellphone handset model and cellphone number provided by you to us and recorded on your GoTyme Bank profile is correct and up to date.
You will only be required to approve a DebiCheck debit order once unless there is a change to the details of the debit order mandate, in which case, you will be required to approve the amended DebiCheck debit order mandate
You can dispute payments made under an approved DebiCheck debit order for up to 12 (twelve) months after processing of the payment.
For more information on the GoTyme Bank DebiCheck, please read our DebiCheck FAQs in the Help Centre or visit www.debicheck.co.za.

Lotto and Powerball

Lotto and Powerball Terms and Conditions

These Terms and Conditions set out the rights, obligations and processes applicable to You if you play the National Lottery using the GoTyme Bank App. It is important that you fully read and understand these Terms and Conditions. If you do not understand any part of these Terms and Conditions, it is your duty to contact Tyme Bank and request an explanation before accepting these Terms and Conditions. If you do not understand the rules for playing the National Lottery, you can contact Ithuba’s Player Hotline.
By playing any of the Lottery Games using the GoTyme Bank App, you agree to be bound by these Terms and Conditions.

Definitions

“DAILY LOTTO” means the National Lottery game in which the Participant selects, or has The Lottery Processing System randomly assign, five (5) numbers from a grid of 1 through 36, inclusive, shall be called “DAILY LOTTO” and all the National Lottery tickets issued for this game shall be identified with the name of the game and the date(s) of the drawing(s) for which they are issued.
“Ithuba” means a private South African company that is the licenced National Lottery Operator in terms of the Lotteries Act No. 57 of 1997, as amended, that is licenced to operate, conduct and promote the National Lottery in South Africa.
“Loss(es)” means any and all damages, fees, costs, charges, expenses, instructions, commitments, disputes, claims, defences, taxes, fines and penalties imposed upon or incurred by the applicable party.
“LOTTO” means game of chance where the player must select six (6) numbers from a field of available numbers. If these six (6) numbers match the six (6) numbers drawn during the LOTTO draw the player wins the first division prize.
“LOTTO Plus 1” means an extension of the National Lottery products in which selections made for a LOTTO draw are entered in an additional corresponding LOTTO Plus draw. It gives participants a second chance to win in the LOTTO game at an additional cost.
“LOTTO Plus 2” means an extension of the National Lottery products in which selections made for a LOTTO Plus 1 draw are entered in an additional corresponding LOTTO Plus 2 draw. It gives participants a third chance to win in the LOTTO game at an additional cost.
“Lottery Game(s)” means LOTTO, LOTTO Plus 1, LOTTO Plus 2, DAILY LOTTO, PowerBall and PowerBall Plus, collectively.
“National Lottery” means the lottery held in the Republic of South Africa under the Lotteries Act and under a license awarded to Ithuba as the current National Lottery Operator. The National Lottery includes all Lottery Games offered under a National Lottery license.
“Personal Information” means as defined in POPIA.
“POPIA” means Protection of Personal Information Act number 4 of 2013 as amended from time to time.
“PowerBall” means a game of chance. While Lotto is a single matrix game, PowerBall is a double matrix game. Simply, a double matrix game is a game which has two grids, both of which form part of the game. There are two draws, two ball sets and two machines used. Both ball sets used are important in obtaining the result of the game. The PowerBall game has two grids. In the first or main grid the player is required to select 5 out of 50 numbers. In the second or secondary grid the player is required to select 1 out of 20 numbers. This is NOT a bonus ball. This is the PowerBall and it is an important part of the game.
“PowerBall Plus” means an extension of the National Lottery products in which selections made for a PowerBall draw are entered in an additional corresponding PowerBall Plus draw. It gives participants a second chance to win in the PowerBall game at an additional cost.
“Quick Pick” means numbers randomly generated by the National Lottery’s Processing Systems.
“Tyme Bank Account” means a Current Tyme Bank account.
We” / “Us” / “GoTyme Bank” means GoTyme Bank Limited.
“You” / “Your” / “Player / Participant” means You, the player/participant in a Lottery Game sold by Tyme Bank.

Definition Participating in the National Lottery

You acknowledge and agree that your participation in any Lottery Game shall at all times be subject to:

- these Terms and Conditions;
- the Tyme Bank General Terms and Conditions which are available on our website;
- the Participants’ Code of Practice which sets out the rules for playing the Lottery Games, the process to claim prizes as well as Ithuba’s queries and complaints procedures. You can get a copy of the Participants Code of Practice from the ITHUBA website or by calling 0800 484 822; and
- the National Lottery’s Rules and Regulations, which are available at www.nationallottery.co.za. In these rules any reference to “coupon entries” means “GoTyme Bank electronic entries” and the “Retailer” means “GoTyme Bank”.

Player Eligibility for Lottery Games

In order to play and purchase any Lottery Games or win any prizes, you must:

- be at least 18 years old; and
- have a verified GoTyme Bank Account that is in good standing.

How to play Lottery Games

Instructions on how to play the Lottery Games are displayed in the Lotto option in the GoTyme Bank App and can be accessed from the National Lottery’s Rules and Regulations. If you need instructions in another language, or if the rules are unclear, you can call the toll free ITHUBA Player Helpline call centre: 0800 484 822 for assistance.

Lottery Game Boards

You can play by either selecting your own unique set of numbers on each purchased Lottery Game Board, or by using the QuickPick option. If you use the QuickPick option, the QuickPick numbers will only be shown to you after you have confirmed the purchase.
Lottery Game Boards may only be purchased during the times set out in clause 46.25 below.

Multi-Draw

You have the option of playing Lottery Games in multiple consecutive draws using the multi-draw option. The multi-draw will start on the next draw date following the date on which you purchased your multi-draw ticket and will end after the number of draws set out in the multi-draw ticket have been completed.

Permissible Purchase Periods

You may only purchase Lottery Game Boards during the Lottery Game Board Permissible Purchase Periods listed below:

- LOTTO

- - On draw days (Wednesdays & Saturdays) 06:00 to 20:25
  - On Sundays between 06:00 and 17:55
  - On other days (Monday, Tuesday, Thursday and Friday) between 06:00 and 22:55

- POWERBALL

- - On draw days (Tuesdays & Fridays) 06:00 to 20:25
  - On Sundays between 06:00 and 17:55
  - On other days (Monday, Wednesday, Thursday and Saturday) between 06:00 and 22:55

- DAILY LOTTO

- - Daily between 06:00 and 20:25, except Christmas Day

Payment of Winnings

If you win less than R250 000

GoTyme Bank will, on instruction from Ithuba, pay winnings of less than R250 000 into the GoTyme Bank Account used to purchase the winning Lottery Game Ticket within 7 working days after the winners have been announced, subject to the necessary KYC and risk assessments having been conducted by GoTyme Bank.
In the event that the winnings cannot be deposited into the GoTyme Bank Account used to purchase the winning Lottery Game Ticket, GoTyme Bank will make all reasonable attempts to contact you. If we are unable to reach your through the communication methods listed on your GoTyme Bank profile after 3 attempts to do so, Go Tyme Bank will deposit your winnings into a suspense account until claimed by you. If you fail to claim your winnings within 365 days, it will be forfeited and paid back to Ithuba.

If you win R250 000 or more

For winnings of R250 000 or more, you will be required to contact Ithuba directly to claim your winnings from any of Ithuba’s regional offices across South Africa. You may contact Ithuba on their helpline number 0800 484 822 (toll free - calls from landlines only) for further information.
GoTyme Bank will make all reasonable attempts to contact you for the purposes of informing you that your winnings of R250 000 or more has to be collected from Ithuba directly.

General Terms and Conditions

You acknowledge and agree that:

- The account holder of the GoTyme Bank Account from which the Lotter Game Ticket was purchased is the legal owner of the National Lottery ticket and entitled to the winnings resulting from such Ticket (if applicable) unless the Lottery Game Ticket was purchased fraudulently.
- Lottery Game jackpots and draw results are determined and confirmed solely by the Lottery Processing System and GoTyme Bank will act solely on the reliance of such information. If you query any results, your query must be sent to Ithuba directly.
- Ithuba may cancel or postpone a draw for any Lottery Game at any time at its sole discretion.

Processing of Personal Information

You acknowledge that your Personal Information may be collected, stored and processed by GoTyme Bank for the purposes of carrying out our obligations under these Terms and Conditions.
GoTyme Bank has described the purposes for which your Personal Information may be Processed in our Privacy Policy that may be accessed from our website. GoTyme Bank therefore requires the you to read and ensure that you understand the Privacy Policy.
By participating in the Lottery Games, you consent and agree to GoTyme Bank Processing your Personal Information for the purposes, in the manner and with the appropriate controls as set out in the Privacy Policy.
Your Personal Information will be shared with Ithuba should your winnings be in excess of R250 000. By participating in any Lottery Game, you consent to Us sharing your Personal Information with Ithuba and to Ithuba Processing your Personal Information.
You further agree that GoTyme Bank may assign the processing of your Personal Information to an Operator who will process such Personal Information under an agreement or mandate entered into with GoTyme Bank, as further provided for in the Privacy Policy.

Indemnities, Exclusions and Disclaimers

You acknowledge and agree:

- to indemnify Ithuba and GoTyme Bank fully for any Loss or damage We or Ithuba may suffer as a result of your breach of these Terms and Conditions.
- to indemnify Ithuba and GoTyme Bank for any Loss or damage you may suffer as it relates to your participation in the National Lottery, playing any Lottery Games or purchasing any Lottery Game Tickets. This means that you cannot hold Us or Ithuba legally responsible for any Loss or damage or legal expenses you suffer because you played the National Lottery.
- GoTyme Bank and Ithuba make no warranties or representation as to the accuracy of any information provided by Ithuba on the Lottery Game Ticket, the GoTyme Bank App or any other media through which such communication is communicated to you. You agree to indemnify and hold harmless GoTyme Bank against any Loss you may incur as a result of information provided by Ithuba.

To indemnify and hold harmless GoTyme Bank and Ithuba against any Loss that you or a third-party may incur as a result of:

- The GoTyme bank App not being available or functioning correctly;
- GoTyme Bank being unable to contact you for the purposes of claiming any winnings due and payable to you, despite our reasonable efforts to do so; and
- The unavailability or malfunction of the Lottery Processing System or the inaccuracy of any information stored or generated within the Lottery Processing System.

Complaints and Contact Information

If you have a query or complaint other than one that relates to GoTyme Bank, you must send your query or complaint to either of the following parties:

National Lottery Operator

Ithuba Holdings

Private Bag X60

Gallo Manor

2052

Tel: 011 346 6000

The National Lotteries Board

PO Box 1556

Brooklyn Square

Pretoria

0075

Tel: 012 394 3440

Ithuba Player Helpline: 0800 484822.

Please note that standard network rates apply

Responsible Gambling

GoTyme Bank supports responsible gambling. National Responsible Gambling Toll-Free Counselling Helpline 0800 006 008 or SMS “Help” To 0766750710. For more information, visit: www.responsiblegambling.org.za/ or contact the Ithuba Player Helpline: 0800 484822.
GoTyme Bank reserves the right to refuse the sale of any Lottery Games to players we reasonably suspect to suffer from compulsive gambling or excessive Lottery play.

Grant Advance

Grant Advance Terms and Conditions

Grant advance allows early access to your social grant by requesting an Advance Amount on the condition that the Advanced amount will be collected from the grant funds paid into your Current Account on your next grant payment date. No fees or interest is payable on the Advanced Amount or for the use of the Grant Advance Product.
These Grant Advance Terms and Conditions set out the rights, obligations and processes applicable to your use of the Grant Advance product. You will be required to accept these terms and condition when your request a grant advance, it is important that You fully read, understand these Grant advance Terms and Conditions before accepting them or making a Grant Advance request.
If you do not understand any part of these Grant Advance Terms and Conditions, it is your responsibility to contact GoTyme Bank on 0860 999 119 and request an explanation before accepting any of these Terms and Conditions.

Definitions

“Advance Amount” means the amount advanced to you by GoTyme Bank based on your successful Advance Request, subject to the limits set out below;
“Advance Request” means your request for a Grant Advance;
“Disability Grant Payment Period” means:

- for Temporary Disability Grants: 6 months; and
- for Permanent Disability Grants: 12 months;

“Grant Funds” means the actual amount paid into your Current Account by SASSA on your Grant payment date;
“SASSA” means the South African Social Security Agency;
“Uncollected Advance Amount” means the portion of the Advance Amount that remains outstanding;
“We / Us / Our / GoTyme Bank” means GoTyme Bank Limited

Eligibility Requirements

In order to use the Grant Advance product, you must meet the requirements set out in this clause each time you request a Grant Advance.
General eligibility requirements:

- You must be between the ages of 18 and 70 years to qualify.
- You must have a biometrically verified Current Account that is in good standing (e.g. there are no holds on your account).
- You must be a recipient of one of the following Grants issued by SASSA:

- - an old age grant; or
  - a disability grant (temporary or permanent); or
  - a child support grant.

- You must have received at least 1 Grant payment into your Current Account before making a Grant Advance request.

Disability Grant renewal requirements:

- Disability Grant recipients who request a Grant Advance at the end of their Disability Grant Payment Period will only be eligible for a Grant Advance:

- - if their relevant Disability Grant is renewed for a further Disability Grant Payment Period; and
  - upon receiving at least 1 Grant payment into their Current Account after renewing their Disability Grant for a further Disability Grant Payment Period.

Requesting a Grant Advance

The Advance Request

You can request an Advance from the GoTyme Bank App or by dialling the USSD code *120*543#
You can submit a maximum of 2 Advance Requests per month.
Advance Requests may only be submitted during the monthly Grant Advance Access Period (from the 15th to the 29th day of each month) set by GoTyme Bank and can be submitted as follows:

- Your 1st Advance Request can be submitted from the 15th to the 29th day of the month; and
- Your 2nd Advance Request can be submitted from the 22nd to the 29th day of the month.

The Advance Amount

If you meet the Eligibility Requirements, you are able to receive up to a maximum of R500 (five hundred Rand) per Advance Request, per month.
For the avoidance of doubt, you can only submit two Advance Requests per month and shall only be entitled to receive a maximum aggregate Advance Amount of R1000 (across two Advance Requests) per month depending on the type of grant you receive.
If your Advance Request is successful, your requested Advance Amount will be paid by GoTyme Bank into your Current Account. The requested Advance Amount will under no circumstances be paid to you in cash or deposited into a bank account other than your Current Account.

Collection/Repayment of the Grant Advance Amount

Collecting the Advance Amount repayment from your Grant Funds

In return for the payment of the Advance Amount to you by GoTyme Bank:

- you agree to repay the Advance Amount to GoTyme Bank, subject to these Grant Advance Terms and Conditions;
- you consent and authorise GoTyme Bank to collect the Advance Amount from the Grant Funds paid into your Current Account on the Grant payment date following the date on which the Advance Amount was paid to you. We will only collect the Advance Amount after your Grant Funds have been received into your Current Account and reflected as such; and
- notwithstanding anything to the contrary in these Terms and Conditions, you acknowledge and agree that you are solely liable to GoTyme Bank for the repayment of the Advance Amount paid to you.

Uncollected Advance Amount

If the Grant Funds paid into your Current Account on the next Grant payment date is not enough for us to collect the full Advance Amount:

- the Uncollected Advance Amount will be deducted from any funds deposited into your Current Account or will be collected from Grant Funds paid into your Current Account on the following Grant payment date; and
- you will not be permitted to submit another Advance Request until the Uncollected Advance Amount has been successfully collected from your Current Account.

No fees or interest payable on Advance amount

GoTyme Bank will not levy any interest on the Advance Amount at any time and will not charge you any fees for making use of the Grant Advance Product.
You are only liable for the repayment of the Advance Amount paid to you by us.

Consent to apply set-off

You expressly agree, consent and authorise GoTyme Bank to apply set-off against your Grant Funds or any funds deposited into your Current Account for the purposes of collecting the Advance Amount or the Uncollected Advance Amount, if applicable. This means that once your Grant Funds are paid into your Current Account on the Grant payment date, the Advanced Amount or Uncollected Advanced Amount, if applicable, will be automatically deducted from your Grant Fund and debited from your Current Account.
We will not deduct anything more than the Advance Amount or Uncollected Amount.

Acknowledgments and legal disclaimer

By making use of the Grant Advance product or submitted an Advance Request, you acknowledge and agree to the following:

- you have read understood and accepted these Grant Advance Terms and Conditions;
- you fully understanding the risk and liability of requesting and receiving the Advance Amount;
- this Grant Advance product is not a loan and not a credit agreement regulated or protected National Credit Act as GoTyme Bank does not levy any interest on the Advance Amount or charge any fees for the use of Grant Advance;
- this Grant Advance product is not a regulated financial product or service, is not regulated by the Financial Sector Conduct Authority or subject to the protections afforded under financial sector laws and/or regulations;
- you are fully responsible for any tax implications arising from or associated using Grant Advance;
- GoTyme Bank reserves the sole right and discretion to:

- - decline your Advance Request or prohibit your use of Grant Advance should you fail to meet the Eligibility Requirements or if the policies of GoTyme Bank or the Applicable Laws require us to do so;
  - determine the Advance Amount payable to from time to time;
  - determine the Eligibility Requirements applicable to the use of Grant Advance; and
  - change these Terms and Conditions on reasonable written notice to you.

You agree to indemnify and hold GoTyme Bank harmless from any claim or demand, including reasonable attorney fees and court costs, made by you or by any third party due to or arising out of:

- your breach and/or violations of these Grant Advance Terms and Conditions;
- your failure to read and request an explanation of these Grant Advance Terms and Conditions; or
- your decision to make use of the Grant Advance product.

Complaints and Alternative Dispute Resolution

If you are not happy with our service, you can make a complaint using any of the Channels available to you; our website or SmartApp, call us on 0860 999 119 or e-mail us on complaints@gotyme.co.za. We will try to solve your complaint as quickly as possible.
If after 20 days we do not solve your complaint, or if you are not happy with the way we solve your complaint, you also have a right to resolve a complaint by way of alternative dispute resolution, by contacting or filing a complaint with the National Consumer Commission and/or the National Consumer Tribunal using the details below:

National Consumer Commission

012 428 7000

enquiries@thencc.org.za

www.thencc.org.za

National Consumer Tribunal

010 590 5200

registry@thenct.org.za

www.thenct.org.za

Fixed Deposit

Fixed Deposit Terms and Conditions

General

GoTyme Bank is the provider of a fixed deposit financial product in its capacity as a registered South African bank and an authorised financial services provider (FSP 49140). The terms and features of this GoTyme Bank Fixed Deposit Product are as set out in these Terms and Conditions and the Fixed Deposit Product Rules (clauses 48.67 - 48.93), subject at all times to the Applicable Laws.
These terms and conditions set out the rights, obligations and processes applicable to You and GoTyme Bank as it relates to the opening and use of the Fixed Deposit Account. It is important that You fully read and understand these terms and conditions, together with Fixed Deposit Product Rules.
These Terms and Conditions must be read together with together with the Fixed Deposit Product Rules which shall be incorporated by reference into these Terms and Conditions.
If You do not understand any part of these terms and conditions or the Fixed Deposit Product Rules, it is your responsibility to contact GoTyme Bank on 0860 999 119 and request an explanation before accepting any of these terms and conditions.
These Fixed Deposit Terms and Conditions and Fixed Deposit Product Rules shall only apply in respect of any Fixed Deposit product entered into or renewed as of the effective date of your fixed deposit. In respect of any Fixed Deposit product entered into prior to the effective date of your fixed deposit, the Fixed Deposit Terms and Conditions accepted by you at the time will apply, a copy of which can be made available to you on request.

Definitions

“Application / Application Process” means the electronic application process undertaken by you through the GoTyme Bank App in order to open a Fixed Deposit Account.
“Deposit / Deposited Amount” means the sum of money you choose to deposit into your Fixed Deposit Account and upon which interest shall accrue, subject to the Fixed Deposit Product Rules.
“Early Withdrawal / Early Termination” has the meaning set out in clauses 48.46- 48.48.
“Early Withdrawal Amount” has the meaning contemplated in the Fixed Deposit Rules.
“Early Withdrawal Date” means the date on which an approved Early Withdrawal or Early Termination is processed
“Early Termination / Early Withdrawal Request” means an instruction to withdraw funds from your Fixed Deposit Account before the Maturity Date in terms of clause 48.46-48.48.
“Early Withdrawal Term” means the period of time (in months) between the Start Date and the Early Withdrawal Date.
“Current Account” means your verified GoTyme Bank account.
“Fixed Deposit Account” means the account opened and operated in terms of the “Your fixed Deposit Account” clauses.
“Fixed Deposit Account Dashboard” has the meaning contemplated in the “Your fixed Deposit Account” clauses.
“Interest Rate” means the rate at which your Fixed Deposit investment will earn interest as set out in the Fixed Deposit Product Rules.
“Investment Information” means the details of your Fixed Deposit investment as set out in the “Your fixed Deposit Account” clauses.
“Maturity Date” means the date on which your chosen Term will end.
“Pay-out Amount / Total Pay-out” means the total amount to be paid from your Fixed Deposit Account into your Current Account on the Maturity Date.
“Penalty Fee” means the fee charged in respect of an approved Early Withdrawal / Early Termination.
“Personal Information” shall have the meaning assigned to it in POPIA and includes any personal details about yourself.
“POPIA” means the Protection of Personal Information Act, 4 of 2013, as amended.
“Product Disclosures” means the initial and on-going disclosures made to you regarding the terms of your Fixed Deposit.
“Start Date” means the date on which your chosen Term commences.
“Term” means the fixed period of time that your Deposited amount will need to remain within your Fixed Deposit Account as determined in the Fixed Deposit Product Rules.

Your fixed Deposit Account

Opening your Fixed Deposit Account

In order to invest in the GoTyme Bank Fixed Deposit Product, you will need to open a Fixed Deposit Account. You acknowledge and agree that a Fixed Deposit Account will only be opened for you if you comply with the following requirements:

- You must be over the age of 18 years and a South African resident;
- You must have an existing verified Current Account that is in good standing (i.e. not under any holds or the subject to any investigations or legal proceedings);
- You must complete and submit an Application through any designated GoTyme Bank Channel and provide us with all information/documentation necessary for us to conduct the necessary verifications and assessments;
- You must read and accept these Terms and Conditions and the Fixed Deposit Rules; and
- You must agree, consent and authorise us to transfer the Deposit Amount from your Current Account into your Fixed Deposit Account.

We will not be under any obligation to open a Fixed Deposit Account for you until such time that you have satisfied all of the requirements set out in clause 48.26 above and all necessary verifications and assessments have been conducted. We may at our sole discretion decline to open a Fixed Deposit Account for you and shall provide you with written reasons should we choose to do so.
Once we have opened your Fixed Deposit Account, subject to the terms set out in this the “Your fixed Deposit Account” clauses, you will be able to access and view the Product Disclosures and your Investment Information from you Fixed Deposit Account Dashboard on the GoTyme Bank App.
Your Investment Information will include details about your Fixed Deposit investment, including:

- the Term of your Fixed Deposit investment, as chosen by you during the Application Process;
- the Interest Rate applicable to your Fixed Deposit investment as quoted by us during the Application process;
- your chosen Deposit Amount transferred from your Current Account; and
- the Maturity Date of your Fixed Deposit investment (being the date on which the Term will end) and when you will be able to withdraw your total Pay-out Amount.

Use and operation of your Fixed Deposit Account

By opening and making use of your Fixed Deposit Account, you acknowledge and agree that:

- your Fixed Deposit Account will only be open and accessible for the duration of the Term of your Fixed Deposit investment, subject to the Early Withdrawal terms and conditions set out in clauses 48.46 - 48.48 below;
- your Deposited Amount will be the only deposit that can be made into your Fixed Deposit Account. You will not be permitted to deposit, transfer or receive any other funds or amount into your Fixed Deposit Account;
- your Fixed Deposit Account is not a transactional account. This means that you will not be able to perform any bank transactions from your Fixed Deposit Account;
- you will not be able or permitted to withdraw any funds from your Fixed Deposit Account for the duration of the Term, unless in terms of an Early Withdrawal processed by us in terms of clauses 48.46 - 48.48 and the Fixed Deposit Product Rules, subject to the terms, conditions and restriction set out therein;
- we reserve the right to monitor the use of your Fixed Deposit Account on an on-going basis for the purposes of assessing your compliance with these Terms and Conditions, the Fixed Deposit Product Rules and the Applicable Laws; and
- in the unlikely event that funds of any value are erroneously credited to your Fixed Deposit Account, you authorise us to reverse such erroneous transaction and the wrongly credited amount.

Fixed Deposit Account Dashboard and Statements

You acknowledge and agree that:

- you will access all relevant information regarding your Fixed Deposit Account and investment from the Fixed Deposit Account Dashboard on the GoTyme Bank App at any time while your Fixed Deposit Account is open.
- the Fixed Deposit Account Dashboard will enable you to access and view:

- - your initial Investment Information as set out under the “Your fixed Deposit Account” clause above; and
  - ongoing Investment Information, including the interest that has accrued and the remaining period of your Term at any given time;

- due to the non-transactional nature and limited features of the Fixed Deposit Account (as set out under the “Your fixed Deposit Account” clause above) as well as the availability and functionality of the Fixed Deposit Account Dashboard, GoTyme Bank will not be under any obligation to provide you with periodic Account Statements, unless specifically requested by you, in writing.

Closure of your Fixed Deposit Account

You acknowledge and agree that your Fixed Deposit Account will be automatically and permanently closed:

- on the Maturity Date, once the Pay-out Amount is paid into your Current Account, as set out in the Fixed Deposit Product Rules;
- on the Early Withdrawal Date, upon us processing an Early Withdrawal or Early Termination as set out in clause 48.46 - 48.48 and the Fixed Deposit Product Rules and upon the Early Withdrawal Amount being paid into your Current Account; or
- on the termination date, if we discontinue this Fixed Deposit product or terminate these Terms and Conditions in terms of this the “Your fixed Deposit Account” clauses and upon the Pay-out Amount being paid into your Current Account.

You acknowledge and agree that upon the closure of your Fixed Deposit Account in terms of this clause:

- you will not be able to access, view or obtain any information pertaining to your Fixed Deposit Account, unless a written request for such information is submitted by you to us;

- that you will not be able to access the Fixed Deposit Account Dashboard from the GoTyme Bank App;
- you will not have any right and GoTyme Bank will not be under any obligation to reinstate, reactivate or reopen your Fixed Deposit Account; and
- your Fixed Deposit investment and these Terms and Conditions will be terminated and no longer enforceable. Should you wish to continue your investment, you will need to submit a new Application and open a new Fixed Deposit Account in terms of theses “Your fixed Deposit Account” clauses above.

Your Responsibilities and Obligations

General obligations

You acknowledge and agree that:

- it your responsibility to fully read and understand these Terms and Conditions and the Fixed Deposit Product Rules before you accept these Terms and Conditions;
- if you do not understand any provisions of these Terms and Conditions or any terms of the Fixed Deposit Product Rules, it is your responsibility to contact GoTyme Bank and request an explanation;
- you will at all times comply with these Terms and Conditions and the Applicable Laws when engaging with us in respect of your Fixed Deposit investment or accessing and making use of the Fixed Deposit Account Dashboard; and
- your rights and obligations as it pertain to your Fixed Deposit investment shall be as set out in the Fixed Deposit Product Rules. You must ensure that:

- - you comply with all obligations applicable to you under the Fixed Deposit Product Rules; and
  - familiarise yourself with all such restrictions and risks applicable to the exercising of your rights under the Fixed Deposit Product Rules.

Fees and charges

You acknowledge and agree that:

- You will not be charged or required to pay any fees associated with the opening of your Fixed Deposit Account, your Fixed Deposit investment or the payment of the Pay-out Amount into your Current Account on the Maturity Date; and
- You will be liable for the payment of Penalty Fees in the event that you request an Early Withdrawal or Early Termination as set out in clauses 48.46 - 48.48 and the Fixed Deposit Product Rules below. Any Penalty Fees that may be due and payable by you under these terms and Conditions and Fixed Deposit Product Rules shall be calculated in the manner set out in the Fixed Deposit Product Rules.

Taxation obligations

You acknowledge and agree:

- that You are fully responsible for any tax implications arising from or associated your Fixed Deposit investment or the Pay-out Amount;
- that you are solely responsible for obtaining independent tax advice from a suitably qualified tax professional in respect of any tax implications to your Fixed Deposit investment. GoTyme Bank shall not be under any obligation to advise you on the taxation implications applicable to any aspect of your Fixed Deposit investment; and
- to hold harmless and fully indemnify GoTyme Bank against all damages, claims and fines made against you, or GoTyme Bank, including all legal costs on an attorney-and-own-client scale, to the extent that such damages, claims and fines arise out of or are connected to any taxation implications pertaining to your Fixed Deposit investment.

GoTyme Bank's Responsibilities and Obligations

General obligations

GoTyme Bank agrees to perform the following obligations:

- provide, operate and administer your Fixed Deposit investment and Fixed Deposit Account, subject to these Terms and Conditions, the Fixed Deposit Product Rules and the Applicable Laws;
- use its best efforts to provide, maintain and ensure the availability and accessibility of the Fixed Deposit Account Dashboard on the GoTyme Bank App;
- comply with all Applicable Law pertaining data protection as well as the terms set out in the “Processing Of Your Personal Information” clauses when Processing any Personal Information provided by you to us; and
- comply with all Applicable Laws and shall use all reasonable efforts to ensure the fair treatment of our customers at all times.

Your Fixed Deposit investment

GoTyme Bank shall perform the following obligations and responsibilities:

- Unless stated otherwise in the Fixed Deposit Product Rules, GoTyme Bank shall determine all interest rates that shall apply your Deposited Amount;
- Interest rates quoted by us will be in accordance with the terms set out in the Fixed Deposit Product Rules and shall be subject to change from time to time in accordance with the GoTyme Bank General Terms and Conditions. You can access information amount our Interest Rates from our website or by calling our customer services centre on 0860 999 119;
- GoTyme Bank shall be responsible for the payment of the Pay-out Amount into your Current Account on the Maturity Date in line with the Fixed Deposit Rules;
- Upon us processing an Early Withdrawal or Early Termination (in terms if clauses 48.46 -48.48), GoTyme Bank shall be responsible for the calculation and payment of the Early Withdrawal Amount into your Current Account on the Early Withdrawal or Early Termination Date, subject to the terms of the Fixed Deposit Rules; and
- GoTyme Bank shall provide you with the Product Disclosures, Investment Information and educational resources necessary for you to understand and make informed decisions regarding your Fixed Deposit investment. You acknowledge and agree that any such information provided or communicated by GoTyme Bank in terms of this clause shall in no way constitute or be construed as financial advice.

Your income tax certificates

We will report the requisite taxation information in respect of your Fixed Deposit investment in accordance with the Applicable Laws. We will issue Income tax certificates in accordance with rules and guidelines from the South African Revenue Service.
You can access your income tax certificates from the Fixed Deposit Account Dashboard or request a copy of your tax certificates by contacting out customer services centre (0860 999 119).
We recommend you obtain independent tax advice from a suitably qualified tax professional should you require assistance in understanding the information set out in your income tax certificate.

Corporation for Deposit Insurance

For the purposes of this clause:

- “CODI” means the Corporation for Deposit Insurance.
- “CODI Regulations” means the Deposit Insurance Regulations made in terms of the Financial Sector Regulation Act 9 of 2017.
- “Qualifying Depositor” means a holder (depositor) of this product/account, but excludes depositors that are not defined as qualifying depositors under the CODI Regulations (e.g. government institutions, banks, private corporates in the financial sector).

This product is covered by CODI, provided that the holder of this product/account is a Qualifying Depositor. This means that if you are a Qualifying Depositor, the funds deposited by you into this account/product will be covered by CODI up to the limit of cover, as specified in the CODI Regulations. You can find out more about deposit insurance, CODI and the CODI Regulations by visiting the CODI webpage of the South African Reserve Bank website.

Termination Of Your Fixed Deposit

Termination or discontinuation of the Fixed Deposit Product by GoTyme Bank

GoTyme Bank may, on reasonable written notice to you of GoTyme Bank’s intention to do so, close your Fixed Deposit Account and deposit the Pay-out Amount into your Current Account in the event that:

- We determine that the use of your Fixed Deposit Account is at risk of contravening any Applicable Laws;
- we determined that your continued use of your Fixed Deposit Account poses an operational, legal or reputational risk to GoTyme Bank;
- you are no longer eligible for the GoTyme Bank Fixed Deposit Product;
- you have breached the GoTyme Bank General Terms and Conditions; or
- we terminate / withdraw this Fixed Deposit Product for any reason whatsoever, provided such termination / withdrawal is conducted in a manner that ensures the fair treatment of customers.

GoTyme Bank shall be entitled to close your Fixed Deposit Account without notice to you if:

- We are compelled to do so under the Applicable Laws;
- we have a reasonable suspicion that your Fixed Deposit Account is being used for illegal or unlawful or fraudulent purposes; or
- you have performed any act that has resulted in a contravention of the Applicable Laws or has/may result in GoTyme Bank contravening any Applicable laws.

Early Termination of the Fixed Deposit by You

You acknowledge and agree to the following, subject to the terms of the Fixed Deposit Product Rule and the Applicable Laws:

- You may not withdraw any funds from your Fixed Deposit Account or terminate your Fixed Deposit before the Maturity Date unless you instruct us to process an Early Withdrawal/Early Termination by using the “Early Withdrawal” functionality in the GoTyme Bank App. This means that any Early Withdrawal instruction we receive through your GoTyme Bank App (whether authorised or unauthorized) will be deemed by us as an instruction given by you to process an Early Withdrawal/Early Termination; and
- Upon us processing an Early Termination /Early Withdrawal instruction given by you through the GoTyme Bank App, the consequences and process set out in the Fixed Product Rules in respect of Early Withdrawals shall become applicable, including the charging of a Penalty Fee and the reduction of your Fixed Deposit Pay-out Amount.

The terms and conditions set out in this clause shall equally apply to any request for an Early Withdrawal.
Should we agree to an Early Termination or and Early Withdrawal, the consequences and process set out in the Fixed Product Rules in respect of Early Withdrawals shall become applicable, including the charging of a Penalty Fee and the reduction of your Fixed Deposit Pay-out Amount.

Processing Of Your Personal Information

The following terms have specifically been defined for use within this “Processing of Your Personal Information” clause

- “Operator” shall have the meaning assigned to it in POPIA;
- “Privacy Policy” means the GoTyme Bank Privacy Policy which may accessed from our website;
- “Responsible Party” means a public or private body or other person which, alone or in conjunction with others, determines the purpose of and means for Processing of Personal Information.

You acknowledge that your Personal Information will be collected and Processed by GoTyme Bank as a Responsible Party.
GoTyme Bank has described the purposes for which your Personal Information may be Processed in detail in the Privacy Policy. GoTyme Bank has also set out further information about:

- accessing, correcting, updating or objecting to the Processing of your Personal Information in the Privacy Policy; and
- the data security measures implemented by GoTyme Bank to ensure the protection of your Personal Information.

GoTyme Bank therefore requires you to read and ensure you understand the terms of the Privacy Policy. By accepting these Terms and Conditions, you agree to GoTyme Bank Processing of your Personal Information either directly or through centralised functions and systems across entities within GoTyme Bank and may use such Personal Information for the purposes, in the manner and with the appropriate controls as set out in the Privacy Policy, in order to:

- Provide the GoTyme Bank Fixed Deposit Product;
- comply with obligations imposed under the Applicable Laws; and/or
- protect the legitimate interests of GoTyme Bank or any other relevant third-party.

You further agree that GoTyme Bank may assign the Processing of your Personal Information to an Operator who will process such Personal Information under an agreement or mandate entered into with GoTyme Bank, as further provided for in the Privacy Policy.
GoTyme Bank and/or its appointed Operator will ensure that all systems and operations it uses to Process your Personal Information, including all systems on which your Personal Information is: copied, compiled, collated, processed, transmitted, stored, collected, mined, altered or deleted will at all times comply with the date security standards requirements set out in the Applicable Laws as well best industry information security practices and procedures required to prevent:

- a Data Compromise, loss of, or damage to, or unauthorised destruction of your Personal Information; and
- unlawful access to, or Processing of your Personal Information.

Warranties, Limitation of Liability And Indemnities

Warranties

By opening, making use of and transacting in respect of the Fixed Deposit Account, you warrant that:

- you have the necessary legal capacity to enter into this Agreement;
- your decision of enter into these Terms and Conditions is in no way influenced by any recommendation of made by GoTyme Bank, its agents or employees;
- notwithstanding anything to the contrary, no representation (whether in writing or orally) made by GoTyme Bank, its agents or employees shall be construed as constituting financial advice;
- you are acting for your own account and that you have made your own independent decision to open the Fixed Deposit Account and as to whether the investment is appropriate or proper for you based upon your own judgement and upon advice from such advisors as you have deemed necessary; and
- you are not relying on recommendation, guidance or proposal (written or oral) of GoTyme Bank as investment advice to open the Fixed Deposit Account and any factual information and explanations relating to these Terms and Condition of the Fixed Deposit Product Rules shall not be considered as financial advice.

Limitation of Liability

Except where damage or loss arises from the wilful misconduct, gross negligence or fraudulent intent (or any person acting for or controlled by GoTyme Bank), GoTyme Bank shall not be liable to you for any damage or loss that you may suffer as a result of:

- any person gaining unauthorised access to any information or data;
- incorrect information being given to any person including any credit bureau;
- GoTyme Bank processing any information incorrectly provided to us by your or any other third-party; or
- a delay, failure or malfunction of any device (electronic or manual) that you use to make use of or transact in respect of your Fixed Deposit Account, including the Fixed Deposit Account Dashboard.

Indemnification of GoTyme Bank

You agree to indemnify and hold GoTyme Bank harmless from any claim or demand, including reasonable attorney fees and court costs, made by any third party due to or arising out of:

- your breach and/or violations of these Terms and Conditions or Fixed Deposit Product Rules; or
- your decision to open, make use of and transact in respect of a Fixed Deposit Account on the reliance of advice or information provided to you by a third-party.

Legal Notices

If we need to send you any communication about these Terms (‘Notice’), including notices, consents, or approvals, you agree that we can use the latest contact details recorded on your TymeTrybe Account. You agree that we can give you any Notice by writing to you or speaking to you.
If you need to send us any Notice, you must use one of the following contact details:

Physical address: Legal Department, GoTyme Bank, 30 Jellicoe Avenue, Rosebank, 2196

Email address: legal@gotyme.co.za

Telephone: 0860 999 119

Complaints And Alternative Dispute Resolution

We have a complaint process that is available through our customer services centre (0860 999 119). If you have a dispute or a complaint regarding your Fixed Deposit Account, you will need to send us a written statement setting out the dispute or the complaint. We undertake to investigate your dispute or complaint within a reasonable time; keep you informed during the investigation and provide you with a final written response.
Should you not be satisfied with our response to your complaint, you also have a right to resolve a complaint by way of alternative dispute resolution, by contacting or filing a complaint with the Ombud for Banking Services and/or the Financial Sector Conduct Authority and/or the National Consumer Tribunal using the details below:

National Financial Ombud Scheme
0860 800 900
066 473 0157
info@nfosa.co.za
Home | NFOSA

National Consumer Tribunal

010 590 5200

registry@thenct.org.za

www.thenct.org.za

Financial Sector Conduct Authority

0800 20 37 22

info@fsca.co.za

complaints@fsca.co.za

www.fsca.co.za

General

Cession by Bank: To the maximum extent permitted by law, You hereby agree that We may, without further notice to you, cede all or part of our rights and/or delegate all or any part of our obligations under these Terms and Conditions to any third-party.
You may not cede or delegate: You may not transfer your rights or delegate Your obligations under these Terms and Conditions unless you have obtained our written consent.
Governing Law: These Terms and Conditions will be governed by and interpreted in accordance with the laws of the Republic of South Africa.
Whole Agreement and Severability: these Terms and Conditions constitutes the entire agreement between the Parties in relation to its subject matter and supersedes all prior agreements and/or proposals, whether oral or written, between the Parties on this subject. Any invalidity, in whole or in part, of any provision of these Terms and Conditions will not affect the validity of any other of its provisions, and such invalid provision will be severed from the rest of the Terms and Conditions.
General amendments to Terms and Conditions: We may, from time to time revise and update these Terms and Conditions. The most recent version of the Terms and Conditions is available on our website and supersedes all previous version of the Terms and Conditions. The onus is on you to apprise yourself of any such changes to the Terms and Conditions and to contact GoTyme Bank should you require an explanation of the changes. Any material amendments to these Terms and Conditions will be communicated to You 20 (twenty) days prior to the change.

Fixed Deposit Product Rules and Requirements

General

GoTyme Bank is the provider of a fixed deposit financial product in its capacity as a registered South African bank and an authorised financial services provider (FSP 49140). The features of this GoTyme Bank Fixed Deposit Product are as set out in these the Fixed Deposit Product Rules, subject at all times to the Applicable Laws.
These Fixed Deposit Product Rules set out the rights, obligations and processes applicable to You and GoTyme Bank as it relates to features and operation of the Fixed Deposit Account and the GoTyme Bank Fixed Deposit Product. It is important that You fully read and understand these Fixed Deposit Product Rules.
These Fixed Deposit Product Rules must be read together with together with the Terms and Conditions which shall be incorporated by reference into these Fixed Product Rules.
If You do not understand any part of these terms and conditions or the Fixed Deposit Product Rules, it is your responsibility to contact GoTyme Bank on 0860 999 119 and request an explanation before accepting any of these terms and conditions.

Your Deposited Amount

The Deposited Amount of your Fixed Deposit investment will be the fixed amount of money transferred from your Current Account into your Fixed Deposit Account during the Application Process. You will not be able to deposit any further funds into your Fixed Deposit investment.
This Fixed Deposit Product does not require your Deposit Amount to meet any minimum or maximum amount requirements. You will earn interest on your Deposited Amount regardless of its value.
Please note the following when choosing the value of your Deposit Amount:

- Your Deposit Amount will be a single sum deducted from your Current Account and deposited into your Fixed Deposit Account on the date your open your Fixed Deposit Account. You will not be able to break up or split the Deposited Amount into separate deposits into your Fixed Deposit Account; and
- You will not be able to access or withdraw your Deposited Amount for the Term of your Fixed Deposit investment. You must therefore ensure that your chosen Deposited Amount is an amount of money that you can keep invested in your Fixed Deposit Account and will not need to access for the duration of the Term.

Corporation for Deposit Insurance

For the purposes of this clause:

- “CODI” means the Corporation for Deposit Insurance.
- “CODI Regulations” means the Deposit Insurance Regulations made in terms of the Financial Sector Regulation Act 9 of 2017.
- “Qualifying Depositor” means a holder (depositor) of this product/account, but excludes depositors that are not defined as qualifying depositors under the CODI Regulations (e.g. government institutions, banks, private corporates in the financial sector).

This product is covered by CODI, provided that the holder of this product/account is a Qualifying Depositor. This means that if you are a Qualifying Depositor, the funds deposited by you into this account/product will be covered by CODI up to the limit of cover, as specified in the CODI Regulations. You can find out more about deposit insurance, CODI and the CODI Regulations by visiting the CODI webpage of the South African Reserve Bank website.

The Terms of Your Fixed Deposit

The Term of your Fixed Deposit will be the duration of this Fixed Deposit agreement (the Fixed Deposit Terms and Conditions) and will be the fixed period of time that your Deposited Amount will be invested in your Fixed Deposit Account.
You will be able select your own Term during the Application process provided that:

- the minimum period of your Term is at least 3 (three) months; and
- the maximum period of your Terms is no longer than 36 (thirty-six) months.

Please note the following when choosing your Fixed Deposit investment Term:

- a longer Term will result in a higher Interest Rate quote and therefore a higher Pay-out Amount on the Maturity Date with the Deposited Amount being the same; and
- you will not be able to access your Deposited Amount, any part of the Pay-out Amount or any funds in your Fixed Deposit Account until the end of your Term (i.e., the Maturity Date). The only exception to this rule being an Early Withdrawal or Early Termination processed through the GoTyme Bank App.

Your chosen Term of your Fixed Deposit investment will start on the date we open your Fixed Deposit Account in accordance with the Fixed Deposit Terms and Conditions (“Start Date”) and will end at the expiry of the Term (being the Maturity Date).
Interest on your Deposited Amount will accrue from the Start Date of your Term at the Interest Rate quoted by us and subject to the rules set out in “Calculation and Payment of interest” rule below and will stop accruing as of the Maturity Date (or the Early Withdrawal Date, if applicable).
You can view the remaining period of your Term at any time by from the Fixed Deposit Account Dashboard on the GoTyme Bank App, subject to the Fixed Deposit Terms and Conditions.

Calculation and Payment of interest

Interest is calculated and accrues to you daily on your Fixed Deposit Account for the duration of the Term based on the Interest Rate quoted in terms of Rule 48.84 below:

- For Fixed Deposit Accounts that were opened before 22 April 2025, interest is capitalised daily into your Fixed Deposit Account.
- For Fixed Deposit Accounts opened on or after 22 April 2025, interest is calculated using a simple interest formula.
- All interest that accrues to your Fixed Deposit investment over the Term will be paid on the Maturity Date together with the Deposited Amount.

The Rules of this GoTyme Bank Fixed Deposit Product do not provide for periodic interest payments and pays all accrued interest on the Maturity Date. This means that all interest that accrues to your Fixed Deposit investment over the Term will only be paid out to you at the end of the Term (the Maturity Date) together with the Deposited Amount.
The Interest Rate quoted by us to you on the opening of your Fixed Deposit Account will be a maturity effective rate based on your chosen Term. A maturity effective rate refers to the interest rate that will be applied to your Deposited Amount that you will earn over the Term of your Fixed Deposit investment. The Interest Rate will be fixed for the duration of the Term.
Please refer to our GoTyme Bank Fixed Deposit FAQs for further information on the Interest Rate and the manner in which it is calculated.

Maturity Of Your Fixed Deposit

At the end of your Fixed Deposit Term (Maturity Date), the Pay-out Amount in your Fixed Deposit Account will be deposited directly into your Current Account in a single lump sum payment on the Maturity Date. The Pay-out Amount will be the sum of your Deposited Amount and all interest accrued over the Term of your Fixed Deposit investment.
Unless we expressly agree otherwise, in writing, you will not be able to elect or request the Pay-out Amount to be dealt with in any manner other than a lump sum payment being made into your Current Account.
In the event that we are unable to deposit your Pay-Out Amount into your Current Account for whatever reason, we will have the sole right and discretion determine the manner in which your Pay-out Amount will be treated, including depositing such funds into an Unclaimed Benefits Account, should we be unable to contact you.

Withdrawals From Your Fixed Deposit

You may not withdraw any funds from your Fixed Deposit Account or terminate your Fixed Deposit before the Maturity Date unless you instruct us to process an Early Withdrawal/Early Termination by using the “Early Withdrawal” functionality in the GoTyme Bank App. This means that any Early Withdrawal instruction we receive through your GoTyme Bank App (whether authorised or unauthorized) will be deemed by us as an instruction given by you to process an Early Withdrawal/Early Termination.
Upon us processing an Early Termination or an Early Withdrawal, the following consequences, processes rules and requirements will become applicable:

- You will only be entitled the Early Withdrawal Amount (calculated by us in terms of Rule 48.91 below) less the Penalty Fee;
- the Penalty Fee, calculated by us in terms of 48.92 below will be charged and deducted from the Early Withdrawal Amount before it is paid into your Current Account;
- The entire Early Withdrawal Amount (less the Penalty Fee) will be paid into your Current Account on the Early Withdrawal Date in a single lump sum payment. This means that a partial withdrawal from your Fixed Deposit Account will not be permitted or processed;
- Your Fixed Deposit investment and this Agreement (the Fixed Deposit Terms and Conditions) will be terminated and your Fixed Deposit Account will be closed in accordance with the Fixed Deposit Terms and Conditions.

Early Withdrawal Amount: The Early Withdrawal amount payable to you on an approved Early Withdrawal will be determined as follows:
Fixed Deposit Accounts opened on or before 22 April 2025

The Early Withdrawal Amount will be calculated as follows:

Early Withdrawal Amount = Your Deposit Amount + Adjusted Interest Amount

Adjusted Interest Amount means the interest accrued on your Fixed Deposit investment over the Early Withdrawal Term, calculated using the Adjusted Interest Rate.

Adjusted Interest Rate means the interest rate applicable to the most recent completed investment term corresponding to the Early Withdrawal Term, being the rate that would have applied if that shorter term had been selected when the Fixed Deposit was opened.

For example, if you selected a 12-month Fixed Deposit and request an Early Withdrawal after 8 months, the interest on your Fixed Deposit will be recalculated using the interest rate applicable to a 6-month Fixed Deposit term.

Fixed Deposit Accounts opened on or after 22 April 2025

The Early Withdrawal Amount will be calculated as:

Early Withdrawal Amount = Your Deposit Amount + Accrued Interest Amount

Accrued Interest Amount means the interest earned on your Fixed Deposit investment from the Start Date up to the Early Withdrawal Date, calculated at the interest rate applicable to your Fixed Deposit.

Penalty Fee: A Penalty Fee will be charged in respect of an Early Withdrawal and deducted from the Early Withdrawal Amount before it is paid into your Current Account, calculated as follows:

- Fixed Deposit Accounts opened on or before 22 April 2025
  A Penalty Fee equal to 1% (one percent) of the Early Withdrawal Amount (calculated in accordance with clause 48.91(a)) will be charged.

- Fixed Deposit Accounts opened on or after 22 April 2025
  A Penalty Fee equal to 1.5% (one point five percent) of the Early Withdrawal Amount (calculated in accordance with clause 48.91(b)) will be charged.
- Fixed Deposit Accounts opened on or after 6 May 2026
  A Penalty Fee equal to 2% (two percent) of the Early Withdrawal Amount (calculated in accordance with clause 48.93) will be charged

In terms of the Rule on Penalty Fees in clause 48.90 above, the Penalty Fee will be deducted from the Early Withdrawal Amount before it is paid into your Current Account.

Before we process your approved Early Withdrawal:

- we will inform you of the Early Withdrawal Amount, the Penalty Fee and the total amount that will be paid into your Current Account (i.e., the Early Withdrawal Amount less the Penalty Fee); and
- if after reviewing the disclosed Early Withdrawal Amount and applicable Penalty Fee, you agree to proceed with the Early Withdrawal.

PayShap

PayShap Services Terms and Conditions

GoTyme Bank is the provider of services which allows you:

- as a Payer, to make PayShap payments to recipients from your Current Account using the PayShap payment method and your unique ShapID (“PayShap Payments”);
- as a Recipient, to receive PayShap Payments using your ShapID and/or send a request to Payers for payment of an amount specified by you in a “PayShap Request” using your unique Known-As Name (“PayShap Request”); and
- as a Payer, receive PayShap Requests from other PayShap users and make payment of the requested amount from your Current Account using PayShap Payments (“PayShap Request”).

These PayShap Terms and Conditions set out the rights, obligations and processes applicable to your use of the PayShap Services. You will be required to accept these terms and conditions when you first make use of PayShap. It is important that you fully read, understand these PayShap Terms and Conditions before accepting them.
If you do not understand any part of these PayShap Terms and Conditions, it is your responsibility to contact GoTyme Bank on 0860 999 119 and request an explanation before accepting any of these Terms and Conditions.

Definitions

“Erroneous PayShap Payment” means a PayShap Payment made by you to the wrong person or incorrect Recipient.
“Erroneous PayShap Request” means an PayShap Request which contains an error made by you when submitting the PayShap Request.
“Known-As-Name” means your FICA verified name that will be shared with a Payer when you submit a PayShap PayShap Request for payment and will be used by the Payer to identify you as the Sender of the PayShap Request.
“Payer” means the person who is making a payment to a Recipient.
“PayShap Limit” means an amount determined by GoTyme Bank and the applicable laws, from time to time, which can be accessed from our website.
“Recipient” means the person who is receiving a payment from a Payer.
“Reversal” means a request made by a Payer to withdraw a PayShap Payment which has already been successfully processed to the bank account of the Recipient.
“Sender” means the sender of a PayShap PayShap Request.
“ShapID” means an alternative way of identifying yourself to Payers/Recipients that can be used instead of your account number which for the purposes of the PayShap Payment Services, shall be the cellphone number linked to your GoTyme Bank Current Account profile.
“We/Us/GoTyme Bank” means “GoTyme Bank Limited.

PayShap Payments

Your ShapID

In order to make payments using PayShap, you will need a ShapID. Your ShapID will be used to identify you as Payer when you make a PayShap Payment to a Recipient.
Unless we inform you otherwise, your ShapID will be based on the cellphone number linked to your Current Account GoTyme Bank Profile. If you change the cellphone number linked to your Current Account GoTyme Bank Profile, your existing ShapID will no longer be valid and your new ShapID will be based on your updated cellphone number.
We may from time to time require you to confirm or authenticate the cellphone number linked to your ShapID. If we are unable to do so, we may deregister or suspend your use of the PayShap Service, without prior notice to you.

Making a PayShap Payment

When using the PayShap Payment Service, you will be the Payer and the person you are paying will be the Recipient.
PayShap Payments can only be made from or received into your Current Account and may not exceed the PayShap Limit per transaction. Unless we notify you otherwise, PayShap Payments can be made on any day at any time, including weekends and public holidays.
PayShap Payments are irrevocable. This means that once you have submitted and confirmed a PayShap Payment, it cannot be cancelled, reversed or refunded.
You may be charged a transaction fee each time you make a PayShap Payment. You will be informed of the applicable transaction fee prior to submitting your PayShap Payment. You can view the latest PayShap transaction fees from our website or by calling our customer service centre. We may decline to process your PayShap Payment if you do not have sufficient funds in your Current Account to cover the payment amount and the transaction fee, if applicable.
You acknowledge and agree that it is solely your responsibility to:

- provide correct and complete information when submitting a PayShap Payment instruction, including the details of your Recipient (e.g. your Recipient’s ShapID);
- verify and confirm that the Recipient Account Number or ShapID provided is correct and valid when making a PayShap Payment;
- provide your payer with your correct ShapID or Account Number when receiving a PayShap Payment;
- ensure that you have sufficient funds in your Current Account to cover your PayShap Payment amount and the transaction fee, if applicable; and
- ensure that you have carefully read and understood these PayShap Terms and Conditions.

PayShap Request

Your Known-As-Name

In order to send a PayShap Request, you will need a “Known-As-Name” that will be used by others to identify you as the intended Recipient of a PayShap Request payment. This means that when you send a PayShap Request, your “Known-As-Name” will be displayed to your Payer to identify you as the Recipient of the PayShap Request payment.
Unless we inform you otherwise, your Known-As-Name will be automatically generated and will be based on the FICA verified name linked to your GoTyme Bank Current Account. You will, therefore, not be able or permitted to change your Known-As-Name.
Your Known-As-Name and will be displayed as: Your first name + the first letter of your last name (e.g. the displayed Known-As-Name for “John Smith” will be “JOHN S”).

Sending a PayShap Request

When using the PayShap Request Service, you will be the Recipient and the person you are requesting payment from will be the Payer.
GoTyme Bank shall only process and send valid PayShap Requests which contains the following information:

- The ShapID (cellphone number) or account number of the Payer;
- The bank with whom the Payer has registered for PayShap Services;
- The monetary amount the Payer is required to pay. Please note that you are only able to request an amount that does not exceed the PayShap Limit;
- the date on which the PayShap Request should expire if no response is received from the Payer; and
- the Payer Reference which will be used to identify the purpose of the PayShap Request to the Payer.

GoTyme Bank shall use the information provided in the PayShap Request to conduct a payer verification and should the Payer be a verified PayShap user, the Known-As-Name of the Payer will be displayed to you for confirmation.
You acknowledge and agree that:

- GoTyme Bank shall not have any responsibility or obligation to verify or confirm the accuracy or appropriateness of the information contained in the PayShap Request or whether the Payer is the intended Payer of the PayShap Request;
- GoTyme Bank is authorised and permitted by you to rely conclusively on the information contained in the PayShap Request and process the PayShap Request solely on the basis of such information;
- GoTyme Bank reserves the rights to refuse to process any PayShap Request that does not contain the requisite information or is determined by GoTyme Bank to be suspicious or unusual; and
- You are solely responsible for ensuring the accuracy, correctness and completeness of the PayShap Request as well as the Known-As-Name of the Payer displayed to you after the payer verification.

GoTyme Bank will notify you on the status of each successful, failed or declined PayShap Request through the GoTyme Bank App. You are also able to manage and view the status of any sent PayShap Request from the GoTyme Bank App.

PayShap Pay a PayShap Request

The PayShap Pay a PayShap RequestService allows you to receive a PayShap Request from another person (“the Sender”) and make payment of the amount specified in the PayShap Request to the Sender using the PayShap Payment Service referred to above, subject to clauses 49.14 to 49.21 above.
When using the PayShap Pay a PayShap Request Service, you will be the Payer, and the Sender will be the Recipient.
GoTyme Bank will notify you any PayShap Request sent to you from a Sender/Recipient. You will be able to view the PayShap Request on the GoTyme Bank App and choose whether accept or decline the PayShap Request.
If you elect to accept the PayShap Request, you will be prompted to pay the amount specified in the PayShap Request to the Sender/Recipient using PayShap Payments, subject to clause 49.14 to 49.21 above. If you elect to decline the PayShap Request, no payment will be made to the Sender/Recipient, and we will notify the Sender/Recipient of the declined PayShap Request.
It is solely your responsibility ensure the legitimacy of the PayShap Request, the Known-As-Name of the Sender/Recipient and requested amount before accepting or declining the PayShap Request. If you suspect the PayShap Request to be fraudulent or illegal you must inform GoTyme Bank immediately by contacting our customer service centre.

Erroneous and Unauthorised Transactions, Reversals and Payment Disputes

Erroneous PayShap Transactions

Erroneous PayShap Request

If you have made an Erroneous PayShap Request and provided that the Payer has not already made payment of the Erroneous PayShap Request amount, you can rectify the error by cancelling the Erroneous PayShap Request on the GoTyme Bank App and submitting a new PayShap Request with the correct information. GoTyme Bank will inform the Payer of the cancellation of the Erroneous PayShap Request.
In the event that the Payer has already made payment in respect of an Erroneous PayShap Request, and such erroneously paid amount has been wrongfully credited to your Current Account, you authorise GoTyme Bank to debit your Current Account with the erroneous amount for the purposes of facilitating a Reversal to the Payer should GoTyme Bank be requested to do so by the Payer’s Bank.

Erroneous PayShap Payments

Should you make an Erroneous PayShap Payment, GoTyme Bank agrees to assist you in good faith to affect a Reversal of the Erroneous PayShap Payment.
GoTyme Bank does not guarantee a successful Reversal, and all Reversal attempts shall be on a best-efforts basis and subject to:

- the interbank escalation process (i.e. communication between GoTyme Bank and incorrect Recipient’s Bank);
- the incorrect Recipient’s Bank approving and agreeing to affect a Reversal of the amount;
- the incorrect Recipient’s bank account having sufficient funds to facilitate the Reversal; and/or
- the incorrect Recipient consenting to the Reversal.

Should a Reversal attempt affected by GoTyme Bank in terms of this clause be unsuccessful for any reason whatsoever, GoTyme Bank shall have no further obligation to assist you in effecting the Reversal and you will need to institute legal proceedings against the incorrect Recipient to recover the Erroneous PayShap Payment amount.
Subject to the applicable data protection laws and GoTyme Bank having obtained the consent of the incorrect Recipient to share their personal information, GoTyme Bank may assist you in contacting the incorrect Recipient to take further action.

Unauthorised PayShap Transactions

It is your responsibility to safeguard your ShapID, Known-As-Name, OTP and login details from third parties and to immediately report any unauthorized PayShap Payments or PayShap Request to us. If you delay in reporting an unauthorised PayShap Request or PayShap Payment, you will be liable (responsible) for any unauthorized transactions debited to your Current Account by any person other than yourself using your ShapID, OTP or other means of verification.
You acknowledge and agree to indemnify and hold harmless GoTyme Bank against any liability or harm suffered by you, GoTyme Bank or any third-party as a result of any unauthorized transaction set out in this clause, unless caused by the gross negligence or wilful misconduct of GoTyme Bank.
Should you immediately inform us of any unauthorised PayShap Transactions and provided that such unauthorised transaction was not as a result of your own negligence, GoTyme Bank shall assist you in effecting a Reversal of the PayShap Transaction in terms of clauses 49.35 to 49.40 should it be able to do so.

Payment Disputes

You shall be solely responsible for the resolution of any dispute between you and the Payer/Recipient and GoTyme Bank shall not have any obligation to resolve or assist in the resolution of any dispute between you and the Payer/Recipient, save for in the case of the Reversal in terms of clauses 49.35 to 49.40 above.

Indemnification of GoTyme Bank

You acknowledge and agree that GoTyme Bank shall not be liable for any loss or damage that you may incur, and you agree to indemnify and hold GoTyme Bank harmless against any claim, action, demand, damages or loss that a third-party may incur, as a result of:

- General:

- - any system, technical or manual failure or acts/omission of third-parties that are outside of GoTyme Bank’s control;
  - your breach and/or violations of these PayShap Services Terms and Conditions;
  - our refusal to process a PayShap Payment or PayShap Request due to such Payment or Request failing to meet these Terms and Conditions or the applicable laws;
  - our decision to suspend and/or deregister you from making use of the PayShap Service;
  - any dispute that may arise between you and your Payer/Recipient as it pertains to a PayShap Payment or PayShap Request.

- In respect of PayShap Payments and PayShap Pay a PayShap Request:

- - any errors or omissions made by you when making a PayShap Payment;
  - your failure to verify or confirm the information of your Recipient, including the Recipients’ ShapID when making a PayShap Payment;
  - your election to accept or decline the PayShap Request from a Sender in respect of which you are the Payer;
  - GoTyme Bank effecting a Reversal of a PayShap Transaction and/or for instructing a Recipient’s Bank to affect a Reversal of a PayShap Transaction in terms of clauses 49.35 to 49.40 above;
  - a Reversal in terms of clause 49.35 to 49.40 being unsuccessful.

- In respect of PayShap Request

- - Your failure to verify or confirm the accuracy and correctness of the PayShap Request information, including confirmation of the Payer details when submitting a PayShap Request;
  - Your instruction to cancel a submitted PayShap Request
  - Our refusal to process an incomplete PayShap Request;
  - The debiting of your Current Account with any amount that was wrongfully credited to your account pursuant to an Erroneous PayShap Request submitted by you; or
  - Our reliance on the information set out in your PayShap Request.

General

Suspension and/or deregistration from the PayShap Service

GoTyme Bank reserves the right and sole discretion, to deregister or suspend you from using the PayShap Service or refuse to process any PayShap Payment, without prior notice to you, if:

- we suspect that your ShapID or Known-As-Name or use of the PayShap Service is in any way connected to fraud or suspicious behaviour or transactions; or
- we are required to do so under any applicable laws.

Sharing your Personal Information

to the applicable data protection laws and these Terms and Conditions, you agree and consent to GoTyme Bank sharing your Personal Information with your Payer/Recipient and the Payer/Recipient’s Bank:

- for the purposes of enabling the Recipient to determine the identity of the Payer in respect of a PayShap Payment;
- for the purposes of enabling the Payer to determine the identity of the Recipient in respect of a PayShap Request; and
- for the purposes of enabling GoTyme Bank, the Payer/Recipient or the Payer/Recipient’s Bank to protect or pursue or protect their legitimate interests.

Virtual Card

GoTyme Bank Virtual Card Terms and Conditions

The GoTyme Bank Virtual Card enables GoTyme Bank customers to make online payments without using their physical GoTyme Bank debit card (“Virtual Card”). These terms and conditions sets out the rights, obligations and processes applicable to you and GoTyme Bank as it relates to your use of the GoTyme Bank Virtual Card. It is important that you fully read and understand these terms and conditions, as amended from time to time.

These Terms and Conditions must be read together with the GoTyme Bank General Terms and Conditions and rules applicable to the use of your GoTyme Bank debit card and Current Account.
If you do not understand any part of these terms and conditions, it is your responsibility to contact GoTyme Bank on 0860 999 119 and request an explanation before accepting any of these terms and conditions.

Definitions

“CVV Number” means the card verification value code that appears on your Virtual Card and can be viewed from the GoTyme Bank App.
”Spend Limit” means the maximum limit applicable to the value of any Transaction you make using your Virtual Card. The Spend Limit is determined by GoTyme Bank from time to time.
”Virtual Card” means the VISA branded virtual card issued by GoTyme Bank that can be used for eCommerce transactions and online payments and for which no physical card is issued;
”Virtual Card Information” means the unique Virtual Card number, CVV Number, 3D Secure Code, one-time-passwords (OTP), expiry date and such other information pertaining to your Virtual Card which may be accessed from the GoTyme Bank App;
”We/Us” means GoTyme Bank / GoTyme Bank Limited

Creating your Virtual Card

In order to create a Virtual Card, you must (i) have a verified Current Account; (ii) have a Verified Banking Profile; and (iii) download the GoTyme Bank App on your Mobile Device.
You can create a Virtual Card at any time through the GoTyme Bank App and your Virtual Card will be automatically activated for use as soon as it is created. Your Virtual Card will be linked to your Current Account and will have a unique Virtual Card number, a unique CVV Number and an expiry date. You may have both a physical GoTyme Bank debit card and Virtual Card linked to your Current Account at the same time.
Your Virtual Card and Virtual Card Information can only be accessed through the GoTyme Bank App.

Using your Virtual Card

You can only use your Virtual Card to pay for (i) eCommerce transactions (local and international online payments); (ii) in-app purchases (i.e. extra content or subscriptions that you buy inside an app downloaded from the GooglePlay or Apple App Store) and; (iii) any type of transaction as determined by GoTyme Bank from time to time.
You cannot use your Virtual Card to (i) make cash withdrawals from your Current Account; or (ii) to pay for purchases made at merchants that do not accept Virtual Cards as a form of payment.
Virtual Card Spend Limit: the value of any Transaction you make using your Virtual Card will be subject to the Spend Limit determined by GoTyme Bank from time to time. The Virtual Card Spend Limits can be accessed from our website or by calling our customer service centre on 0860 999 119.
Locking and Unlocking your Virtual Card: You can temporarily lock your Virtual Card at any time to prevent Transactions from being processed on your Virtual Card. Your Virtual Card will not be cancelled but will instead be kept in a temporary locked state until such time that you choose to unlock it. If you choose to lock your Virtual Card, we will not process any Transactions made using your Virtual Card until such time that it is unlocked by you. You can lock and unlock your Virtual Card at any time through the GoTyme Bank App.
Our right to decline Transactions:†We reserve the right and sole discretion to decline the processing of any Transaction made using your Virtual Card in the event that:

- there are insufficient funds available in your Current Account;
- the Transaction amount exceeds the Spend Limits determined by GoTyme Bank from time to time;
- your Virtual Card has been locked by you;
- your Virtual Card has been cancelled or had expired;
- the Transaction fails to comply with the VISA Regulations; or
- we suspect that the Transaction is fraudulent, illegal, unauthorised or in contravention of these Terms and Conditions.

Our right to revoke your Virtual Card: We reserve the right and sole discretion to revoke and unilaterally cancel your Virtual Card at any time, without notice, in the event that:

- you are in breach of these Terms and Conditions or the GoTyme Bank General Terms and Conditions;
- we have reason to suspect that your Virtual Card is being used fraudulently, illegally or in a manner that exposes GoTyme Bank to regulatory, operational, commercial, or reputational risk; or
- we are required by any law, any regulatory authority or VISA to do so.

Your Virtual Card Responsibilities

You acknowledge and agree that:

you are solely responsible for taking the necessary precautions to safeguard your Mobile Device and ensure your Virtual Card and your Virtual Card Information (including the CVV Number, 3D Secure Code or OTPs) are kept confidential and secure at all times;
you will not use your Virtual Card in contravention of any applicable laws, the VISA Regulations or the GoTyme Bank General Terms and Conditions;
your use of your Virtual Card must not in any way contravene the Exchange Control Regulations or any similar regulations promulgated from time to time and you must comply with all relevant Exchange Control requirements;
you are responsible for ensuring that the details of your Transaction are correct before proceeding with any Transaction or providing any merchant with your Virtual Card Information;
not all Transactions will require a CVV Number or 3D Secure Code to complete the Transaction and it your responsibility to monitor Transactions made from your Virtual Card and immediately report any suspicious, fraudulent or unauthorised Transaction to GoTyme Bank;
any Transaction processed from your Virtual Card is final and irreversible unless permitted otherwise under the VISA Regulations or was processed in error by the merchant or GoTyme Bank;
if you dispute any Transaction made and processed using your Virtual Card, you must contact the merchant with whom the Transaction was concluded in order to resolve the dispute; and
you are responsible for ensuring that you have sufficient funds in your Current Account to complete any Transactions as well as ensuring the value of your Transaction does not exceed the Spend Limits which may be accessed from our website.

Cancellation, Replacement and Renewal of Your Virtual Card

Your Virtual Card will be valid for 5 (five) years from the month in which it is created.
If your Virtual Card is compromised or should you no longer want to make use of it, you can cancel your Virtual Card by contacting GoTyme Bank on 0860 999 119.
Once your Virtual Card expires or is cancelled, you will not be able to use the expired/cancelled Virtual Card to make any Transactions and will need to create a new Virtual Card through the GoTyme Bank App.
The expiration or cancellation of your Virtual Card will not affect your Current Account or any GoTyme Bank physical debit card linked to your Current Account. If your Current Account is suspended, closed, or terminated for any reason whatsoever, any Virtual Card you created will be subsequently cancelled.

Disclaimers, Exclusions and Limitation of Liability

GoTyme Bank shall not be liable for any direct or indirect loss suffered by you arising out of or in connection with:

- your failure to comply with these Terms and Conditions, the GoTyme Bank General Terms and Conditions, the VISA Regulations or the applicable laws;
- any defect, fault, malfunction or delay in your Mobile Device hardware and/or software;
- any defect, interruption, malfunction, downtime, failure, or delay that may occur in relation to your use of the Virtual Card; or
- any dispute in respect of a Transaction (including any defect in the goods or services purchased or the actions or inactions of any merchant).

Notwithstanding anything to the contrary contained in the GoTyme Bank General Terms and Conditions and unless determined otherwise by GoTyme Bank, you will not be entitled to earn Smart Shopper Points (or any other loyalty-based rewards or benefits offered by GoTyme Bank or its partners) for any payments, purchases or Transactions made using your Virtual Card.

Digital Wallet

For purposes of these Terms and Conditions, reference to GoTyme Bank Card shall mean your Debit Card and/or your Virtual Card.

These Terms and Conditions apply when you load your GoTyme Bank Card into a digital wallet and must be read with the Virtual Card and/or Debit Card Terms and Conditions made available to you on our website.

In order to load your GoTyme Bank Card into a digital wallet (hereafter referred to as a “Wallet”), you must enroll and activate your GoTyme Bank Card in the Wallet. The enrolment of your GoTyme Bank Card to a Wallet will be subject to the wallet provider’s terms and conditions and privacy policy.
You may only load your GoTyme Bank Card into eligible Wallets as determined by GoTyme Bank from time to time.
Once you have enrolled and activated your GoTyme Bank Card on your device to a Wallet (which is referred to as a Token), it exists independently and separately from your physical Debit Card or Virtual Card. This Token can be used to pay for transactions wherever your Wallet is accepted.
Once you have enrolled your GoTyme Bank Card on your Wallet and the Token has been created, you must activate the Token as directed by your Wallet provider – this can be through the GoTyme Bank App or via the GoTyme Bank Customer Care Centre. Once you have activated the Token in your Wallet, you will be able to use your Token to make payments through your Wallet.
The authentication credentials provided to you by your Wallet provider and managed within the Wallet will be used to authorise Token transactions made by you through your Wallet. This means that we will assume that you have authorised all transactions where your Token is used as a method of payment, unless you notify us beforehand that your Token is being used or about to be used without your knowledge or consent, or that your device, Wallet and/or security codes have been compromised. You are thus liable for all losses related to the transaction, even if a fraudster has created their own wallet with your Wallet details.
You must take all necessary steps to prevent the unauthorised or fraudulent use of your device, Wallet, Token/s and any confidential code, username and password, card PIN, security token, access code, pattern, and other information that you use when you pay with your Token or when you access your Wallet.
We will not charge you extra fees when you use your Token through the Wallet (all the usual card fees will still apply). However, other parties (i.e. Wallet provider and any mobile network service providers) may charge you for the use of the Wallet.
The Wallet provider is solely responsible for the Wallet.
Any information collected by a Wallet provider through your registration and use of the Wallet, including personal information, is subject to the Wallet provider’s terms and conditions and their data security and privacy policies - this is not governed by our data protection policy or General Terms and Conditions. We are not responsible for any loss you suffer in connection with a Wallet provider’s use of your information.
We may need to share your personal information with the Wallet provider and any third party that provides information to the wallet provider and to us in respect of the wallet services. By using your Token through the Wallet, you are giving us consent to share information with these parties.

Bill Payments

Bill Payments Terms and Condition

GoTyme Bank is the provider of Bill Payment Services which enables you to:

- view Bills issued to you by your or Bill Payment Provider (e.g. Pay@) on the GoTyme Bank App using a reference number provided to you by the Bill Payment Provider (“Bill Reference Number”); and
- make payment of your Bills to the relevant Bill Payment Provider using approved GoTyme Bank payment methods.

These Bill Payments Terms and Conditions set out the rights, obligations and processes applicable to your use of the Bill Payments Service. You will be required to accept these terms and conditions when you first make use of the Bill Payments Service. It is important that you fully read, understand these Bill Payments Terms and Conditions before accepting them.
If you do not understand any part of these Bill Payments Terms and Conditions, it is your responsibility to contact GoTyme Bank on 0860 999 119 and request an explanation before accepting any of these Terms and Conditions

Presentment and viewing of your Bills

Viewing your Bills

You can view your Bills using the GoTyme Bank App. You can only view Bills in respect of which a Bill Reference Number has been provided to you by your Bill Payment Provider.
In order to view any Bill issued to you by a Bill Payment Provider, you will be required to provide us with the Bill Reference Number that relates to the Bill you are attempting to view.
It is your responsibility to ensure that the Bill Reference Number is correct and complete. GoTyme Bank shall not be responsible for verifying the correctness of your Bill Reference Number or the accuracy of the Bill associated with the Bill Reference Number provided.

Presentment of your Bills

GoTyme Bank will display the Bill associated with the Bill Reference Number entered by you, provided that the Bill Reference Number entered is linked to an associated Bill. The Bill presented to you will contain the following information (“Bill Information”):

- the identity/name of the Bill Payment Provider;
- the amount due and owing by you the Bill Payment Provider as set out in the Bill; and
- the Bill Reference Number.

GoTyme Bank will display the Bill and Bill Information as received from the Bill Payment Provider. GoTyme Bank in no way warrants the accuracy of the Bill Information displayed and shall not be responsible for verifying the Bill Information.
It is solely your responsibility to review the Bill and displayed and ensure the correctness of the Bill Information before making any payment in respect of such Bill. Should the Bill Information be incorrect, it is your responsibility to contact your Bill Payment Provider to rectify the Bill Information.

Sharing your Personal Information

Subject to the applicable data protection laws and these Terms and Conditions, you agree and consent to GoTyme Bank sharing your Personal Information with your Bill Payment Provider:

- for the purposes of enabling the Bill Payment Provider to identify you as the person to whom a Bill has been issued and from whom payment is due;
- for the purposes of enabling the Bill Payment Provider to conduct any requisite verifications pertaining to you, your Bill Reference Number, your Current Account number and/or your Bill Information; or
- for the purposes of enabling GoTyme Bank or the Bill Payment Provider to protect or pursue their legitimate interests.

Payment of your Bills

Your Bill payment obligation

Notwithstanding the Bill Payments Service provided to you by GoTyme Bank, it remains your responsibility to pay your Bill Payment Provider. Your payment obligation under any Bill issued by your Bill Payment Provider is not dependent upon your use or the operation of the Bill Payment Service.
GoTyme Bank does not guarantee the uninterrupted availability of the Bill Payment Service, and should you be unable to use the Bill Payment Service to make payment of any Bill issued to you, it is your responsibility to make use of alternative methods to ensure such Bill is paid to your Bill Payment Provider.

GoTyme Bank approved payment methods

Upon the presentation of a Bill to you, you may use any of the following GoTyme Bank payment methods to make payment of the Bill to your Bill Payment Provider from your Current Account (“Bill payment”):

- Electronic funds transfer;
- Electronic payment; or
- any other payment method determined by GoTyme Bank, from time to time.

These Bill Payments Terms and Conditions must be read together with the GoTyme Bank General Terms and Conditions, rules and limitations as it pertains to the particular payment method chosen by you in this regard.
You may be charged a transaction fee for the use any approved payment method to pay a Bill to your Bill Payment Provider. You will be informed of the applicable transaction fee prior to submitting your Bill payment. You can view the latest payment transaction fees from our website or by calling our customer service centre. We may decline to process your Bill payment if you do not have sufficient funds in your Current Account to cover the Bill payment amount and the transaction fee.
It is solely your responsibility to ensure that you have sufficient funds in your Current Account to cover your Bill payment amount and the applicable transaction fee.

Payment Disputes

You shall be solely responsible for the resolution of any dispute between you and your Bill Payment Provider and GoTyme Bank shall not have any obligation to resolve or assist in the resolution of any dispute between you and your Bill Payment Provider, save for as provided otherwise under the GoTyme Bank General Terms and Conditions.

Limitation of liability and indemnity

You acknowledge and agree that, except for in the case of GoTyme Bank’s gross negligence, fraudulent conduct or wilful breach of these Terms and Conditions, GoTyme Bank shall not be liable for any loss or damage that you or your Bill Payment Provider may incur, and you agree to indemnify and hold GoTyme Bank harmless against any claim, action, demand, damages or loss that you, your Bill Payment Provider or third-party may incur, as a result of:

you failing to provide the correct Bill Reference Number;
any Bill Information being incorrect;
you failing to verify the correctness of the Bill Information or Bill displayed;
any dispute between you and your Bill Payment Provider as it pertains to the rectification of any erroneous Bill Information, the payment of your Bill or the use of the Bill Payment Service;
our refusal to display a Bill or process a Bill payment due to:

- the Bill Reference Number being incorrect or having no associated Bill;
- the Bill Payment Provider not being an approved Bill Payment Provider;
- your Current Account not having insufficient funds to cover the Bill payment and applicable transaction fee; or
- the Bill payment failing to meet these Bill Payment Terms and Conditions, the GoTyme Bank General Terms and Conditions or any applicable laws.

you failing to make payment of a Bill issued to you by a Bill payment Providers, should the Bill Payment Service be unavailable;
any system, technical or manual failure or acts/omission of third parties that are outside of GoTyme Bank’s control;
your breach and/or violations of these Bill Payments Terms and Conditions; or
our decision to suspend you from making use of the Bill Payment Service if:

- we suspect that your use of the Bill Payment Service is in any way connected to fraudulent or suspicious behaviour or transactions; or
- we are required to do so under any applicable laws.