Private Bank Account Terms & Conditions
They explain Investec’s and the client’s respective rights and obligations. The client must take time to read and understand the agreement and pay special attention to all text in bold.
The headings in these terms and conditions are for reference only. Words importing one gender include the other genders, words in the singular include the plural and vice versa and natural persons include created entities. The following expressions have the following meanings:
1.1 "account" means the main account and any guaranteed accounts, which Investec maintains for the main account holder and any guaranteed account holder
1.2 "account holder" means the main account holder and/or a guaranteed account holder
1.3 "anti-corruption laws" means any bribery, fraud, kickback, or other similar anti-corruption law or regulation of any relevant country, including but not limited to the Prevention and Combating of Corrupt Activities Act 12 of 2004, the UK Bribery Act, 2010 and the US Foreign Corrupt Practices Act 1977
1.4 "applicable law" means any local, provincial, national or international statutes, regulations, regulatory guidelines, ruling or code and judicial, regulatory, industry or administrative interpretations or directives, or any rules or requirements established by Visa
1.5 "application" means the application made to Investec for the account and, where applicable, for a card to be issued to the account holder and/or an extra cardholder nominated by the account holder in respect of the account
1.6 "ATM" means an automated teller machine
1.7 "business day" means any day other that a Saturday, Sunday or official public holiday in South Africa
1.8 "card" means a card or any device which stores a digital version of the card, issued by Investec to the client, and includes, unless the context otherwise indicates, the Investec Select card
1.9 "cash transaction" means any cash withdrawal or deposit, whether at an ATM, over-the-counter or cash-back provided by a merchant and any near-cash transaction which does not fall within the definition of "purchase" in clause 1.34, including without limitation, the purchase of travellers' cheques, a direct debit, any electronic account payment, a transfer of funds or any purchase using the Investec Select card;
1.10 "client" means an account holder and any extra cardholder
1.11 "Common Monetary Area" means the area consisting of South Africa, Lesotho, Namibia and the Kingdom of eSwatini
1.12 "contactless transaction" means a transaction concluded with a card, using radio-frequency identification (RFID) or near field communication (NFC) by tapping or waving the card close to or near a point-of sale terminal
1.13 "credit facility" means this agreement entered into between the main account holder and Investec (if any), which is maintained in association with the account
1.14 "credit limit" means the maximum amount (after deduction of the guaranteed account credit limit) that may be outstanding at any time (including fees, interest and charges) on the main account. This amount is made available by Investec to the main account holder and the extra cardholder(s) in the aggregate, determined by Investec in accordance with the NCA (if applicable) and notified to the main account holder and/or extra cardholder(s) from time to time through whatever medium Investec may deem fit, subject to clause 2.10
1.15 "due date" means the date on which the payment of the minimum amount is due and payable by the account holder to Investec as reflected on the statement issued by Investec in relation to the account
1.16 "e-communication" means an electronic communication by means of a data message as defined in the ECT Act and includes communications exchanged by means of the website, email and mobile phone (eg WAP, WIG, SMS)
1.17 "ECT Act" means the Electronic Communications and Transactions Act 25 of 2002
1.18 "extra cardholder" means the extra cardholder(s) contemplated in clause 11
1.19 "guaranteed account" means the account which Investec maintains for a guaranteed account holder
1.20 "guaranteed account credit limit" means the maximum capital amount that may be outstanding at any time (including fees, interest and charges) on the guaranteed account. This amount will be apportioned by the main account holder to the guaranteed account from the credit limit and notified in writing to Investec by the main account holder from time to time
1.21 "guaranteed account holder" means a person nominated by the main account holder as guaranteed account holder
1.22 "Investec" means Investec Bank Limited and/or any duly appointed agent of Investec
1.23 "Investec Group" means Investec Bank plc, Investec plc and Investec Limited together with the holding companies (and other subsidiaries of those holding companies) and any direct or indirect subsidiaries of those three companies and includes Investec
1.24 "Investec Select card" means a card bearing the name "Investec Select", as issued by Investec on written request by the main account holder, in respect of a motor vehicle with its registration number on that card
1.25 "Investec Rewards" means the rewards programme offered by Investec to the account holder
1.26 "main account" means the account which Investec maintains for the main account holder
1.27 "main account holder" means the party to whom the credit facility is granted (if any) and the holder of the main account
1.28 "merchant" means any supplier of goods and/or services who is enabled and authorised to accept a card as a payment method
1.29 "NCA" means the National Credit Act 34 of 2005
1.30 "Online Banking Password" means the password chosen by the account holder in respect of the account for access to Investec Online via the website which must be used, together with any other verification mechanism (where applicable), every time Investec Online is accessed
1.31 "personal information" means personal information as defined in POPIA
1.32 "POPIA" means the Protection of Personal Information Act 4 of 2013
1.33 "process/processing" has the same meaning assigned thereto in POPIA when referred to in the context of personal information
1.34 "product rules" means the specific conditions applicable to the use of an account, product or service offered by Investec and Investec Group
1.35 "purchase" means any transaction, other than a cash transaction, which can be processed by a merchant in accordance with the Visa card programme rules in respect of the supply of goods and/or services by the merchant to the client, including all fees and charges in connection with such transaction
1.36 "Quotation" means the written quotation, provided by Investec to the main account holder in respect of the credit facility
1.37 "Sanctioned Transaction" means either the use of the card or the account for the purpose of financing directly or indirectly the activities of any person or entity which is on a Sanctions List or for the purpose of financing directly or indirectly the activities of any person in a country which is subject to Sanctions by a Sanctioning Body (“Sanctioned Country”), and/or the contribution or making available of amounts to any person or entity, if the client has knowledge that such person or entity intends to use such funds for the purpose of financing the activities of any person or entity which is in a Sanctioned Country and/or is on a Sanction List, in each case to the extent that such financing or provision of funds would be prohibited by Sanctions;
1.38 "Sanctioning Body" means any one or a combination of the following entities:
1.38.1 the Office of Foreign Assets Control of the Department of Treasury of the United States of America;
1.38.2 the United Nations Security Council;
1.38.3 the European Union or any participating member state of the European Union;
1.38.4 Her Majesty's Treasury of the United Kingdom; and
1.38.5 any other sanctioning body of a foreign country in whose currency Investec may facilitate payment
1.39 "Sanction List" means any of the lists of specially designated national or designated persons or entities (or equivalent) held by a sanctioning body, each as amended, supplemented or substituted from time to time and/or any other sanctions lists that Investec may from time to time deem necessary or be required to screen, verify and process transactions against
1.40 "Sanctions" means the economic sanctions laws, regulations, embargoes or restrictive measures administered, enacted or enforced by any Sanctioning Body
1.41 "South Africa" means the Republic of South Africa
1.42 "spending limit" means the maximum aggregate value of transactions since the previous statement, which a client may effect, determined by the main account holder and notified to Investec from time to time in writing
1.43 "Transactional PIN" means a personal identification number allocated by Investec, or selected by the client (if applicable) in respect of any card that must be used to authenticate any transaction when called on to do so by a merchant
1.44 "transaction" means a transaction effected by the client by using the card and/or the card number and/or the account and/or the account number, including a deposit, an account query, a purchase, cash transaction and refund or reversal of payment and a contactless transaction
1.45 "verification mechanisms" means the Transactional PIN, the Online Banking Password, passwords used by Visa Secure (where applicable), other passwords and any other form of verification mechanism implemented by Investec from time to time, to facilitate the use of the card and/or the account and matters ancillary thereto, including specifically any e-communication which Investec may send in relation to any transaction
1.46 "Visa Secure" means the online service offered by Investec, in conjunction with Visa, that uses personal passwords or identity information to help protect Visa card members against unauthorised use online, and as modified, augmented and/or enhanced from time to time
1.47 "Visa" means Visa International services association, a corporation organised and existing under the laws of the State of Delaware, United States of America, having an office and principal place of business at 3125 Clearview Way, City of San Mateo, State of California, United States of America or any subsidiary of this corporation
1.48 "website" means the Investec website being http://www.investec.com (including all its constituent web pages) on which Investec provides banking and financial services from time to time, including all pages over which Investec exercises control.
2.1 An agreement between Investec and the client regulating, among other things, the operation of the account, the granting of the credit facility, the issuance of a card to, and the utilisation thereof by, the client shall come into effect, and all the provisions of the agreement will apply to Investec and the client, by the earlier of:
2.1.1 Investec delivering or procuring, by courier or otherwise, the delivery of a card to the client (or any person authorised by the client in writing to accept the card on its behalf ("authorised acceptor")) in person at the address furnished by the client or by the authorised acceptor; or
2.1.2 Investec handing the card, together with such documentation as may be deemed necessary by Investec, to the client or the authorised acceptor in person at Investec; or
2.1.3 the use of the card number and/or the account and/or the account number by a client or any person authorised by the client to use the card number and/or the account and/or the account number.
2.2 The client shall not be entitled to cede or assign to any other person any of the client’s rights or obligations in respect of or arising out of the agreement or the use of any card or of the account.
2.3 Investec shall be entitled to cede and assign its rights and obligations in respect of or arising out of the agreement or the use of any card or any account without giving notice to the client.
2.4 The card will be valid for the period specified on it, unless the card and/or the account is cancelled, suspended, closed and/or terminated at an earlier date by either Investec or the client, according to the agreement. Immediately on receipt of the card, the client should sign the card on the space provided with a ballpoint pen.
2.5 The card will entitle the client, subject to the discretion of Investec, and subject to the agreement, to effect transactions within the credit limit and guaranteed account credit limit only, and within any applicable spending limit.
2.6 The client agrees to use and/or implement any verification mechanisms (where applicable) according to the agreement and/or any other conditions or guidelines which Investec may impose from time to time, subject to the provisions of any applicable law. The client acknowledges that failure to keep any verification mechanism secret may result in unauthorised use of the card and/or the account (or any other account held in the Investec Group) and losses, for which the client will be liable. In the event that the client forgets the Transactional PIN, the client may request it via Investec Online or the 24/7 global Client Support Centre.
2.7 The client undertakes not to effect transactions in excess of the credit limit and/or the guaranteed account credit limit and/or the spending limit. If the credit limit and/or the guaranteed account credit limit and/or the spending limit has/have been exceeded or if the client has defaulted under the agreement in any manner:
2.7.1 Investec shall be entitled, but not obliged, to refuse to make any payment in respect of any transaction or process a transaction; and
2.7.2 Investec will not be liable for any costs incurred or any loss or damage suffered by the client in this regard, provided that Investec did not act with gross negligence or fraudulent intent.
2.8 The client acknowledges that certain purchases are not processed online ("under floor limit purchases") and can therefore not be authorised by Investec. The client understands that the credit limit/guaranteed account limit/spending limit may be exceeded as a result of any under floor limit purchases and agrees to be liable for such under floor limit purchases.
2.9 Any acceptance by Investec of any transaction which results in the credit limit or guaranteed account credit limit or spending limit being exceeded shall not render Investec liable for any such excess and shall not be construed as the exercise by Investec of its discretion to extend and/or increase the credit limit or guaranteed account credit limit or spending limit and/or as a waiver of any of Investec’s rights.
2.10 If the agreement is subject to the NCA, the credit limit for the credit facility may be increased in the following instances:
2.10.1 temporarily where Investec accepts a transaction which results in the credit limit or guaranteed account credit limit being exceeded or where Investec agrees to raise the credit limit or guaranteed account credit limit in response to a request from the account holder to accommodate a particular transaction, on condition that the preceding credit limit or guaranteed account credit limit will again apply within a specified period, or after a specified occurrence has taken place; or
2.10.2 by agreement with the main account holder in response to a written or verbal request initiated by the main account holder at any time or with the written consent of the main account holder in response to a written proposal by Investec at any time;
2.10.3 unilaterally and in accordance with the NCA (if applicable), if the main account holder at the time of applying for the credit facility or at any later time, in writing has specifically requested the option of having the credit limit automatically increased from time to time.
2.11 The main account holder may at any time, by written notice to Investec, require that the credit limit be reduced and if required, request that the guaranteed account credit limit also be reduced.
2.12 Investec may, by written notice to the main account holder reduce the credit limit and the guaranteed account credit limit. The reduction will be effective on delivery of the written notice.
3. Main account holder's right to settle and close
The main account holder may settle the agreement and close the main account and guaranteed account at any time by paying an amount equal to the aggregate of:
3.1 the unpaid balance on the account as at that date ("settlement date"); and
3.2 all unpaid interest and all other fees and charges due or payable by the main account holder to Investec in terms of the agreement up to and including the settlement date.
4. Use of the card and the account
4.1 Save in the case of the Investec Select card, only the client in whose name the card is issued and whose name is embossed on the card will be entitled to use the card. Any authority given in any form by the client to any other person will not entitle such person to use the card.
4.2 The client acknowledges that Investec is obliged to report transactions occurring outside the Common Monetary Area to the South African Reserve Bank. Any transaction in a currency, which is not that of the account, will be converted into the currency in which the account is denominated at Visa’s prevailing wholesale market rate of exchange, subject to any applicable exchange control regulations, on the date of posting of any such transaction to the account and will be shown on the client’s statement in South African rands. The client acknowledges that there may be a delay before a transaction in a foreign country is debited or credited, as the case may be, to the account and the client agrees to bear the foreign exchange risk in respect of any such delay. All transactions in a foreign country will incur a commission fee to be determined by Investec from time to time. The fee will be included in the amount posted to the account in terms of the provisions of this clause.
4.3 Investec, as part of the Investec Group, is obliged to comply with international and local Sanctions and anti-money laundering laws and policies. Investec will therefore screen, verify and process all client and related information and thereafter monitor all information, instructions and transactions by and on behalf of the client and the business relationship on a continuous basis. This may result in the prohibition, limitation or delay in the execution of instructions or transactions and even in the suspension of the account and the declining or terminating of any transaction or the business relationship with the client. To the extent permitted, Investec shall advise the client of any action it intends to take in terms hereof. The client acknowledges and confirms that neither the Investec Group, nor its employees, officers, or directors, shall be liable for any direct, indirect or consequential loss, damage, cost or expense whatsoever that may be suffered or incurred by the client as a result of, arising from or relating to any such prohibition, limitation, delay, decline or termination due to the implementation of this clause.
4.4 The client hereby undertakes and warrants that when using the card or the account:
4.4.1 the client will comply with all applicable laws and that the card and/or the account will not be used for any unlawful purposes including, for example, engaging in unlawful gambling via the internet;
4.4.2 the client will comply with all applicable anti-corruption laws; and
4.4.3 the client will not conclude any transaction with a person on the Sanctions List or a person located in any Sanctioned Country and will ensure that the card and/or the account are not used for a Sanctioned Transaction.
4.5 The client shall be obliged and hereby agrees, to use the Transactional PIN for each transaction at an ATM or concluded with a merchant, where the merchant’s terminal or website supports and requires the Transactional PIN.
4.6 In circumstances where a card has been lost or stolen while a client is outside of South Africa, Investec will facilitate transactions by way of money transfer services through another financial institution. The client must contact Investec to request the transfer of funds by way of the money transfer services. Prior to Investec arranging the transfer of the funds, Investec will obtain confirmation from the client that the exchange rate and transaction fees are acceptable to the client. On confirmation, the client will be liable for any fees charged by the other financial institution for the money transfer services and for any loss, liability, claim or expense which the client may sustain or incur as a result of using the money transfer services, including without limitation exchange rate fluctuations.
5. Authority to debit the account
5.1 Subject to applicable law, the client shall reimburse Investec for all payments which Investec has made, or is required to make, for and on behalf of the client in respect of any transaction.
5.2 The accountholder acknowledges and agrees that if a verification mechanism has been used together with the card, Investec shall be authorised to debit the account, whether the verification mechanism was used by the cardholder or not.
5.3 The account holder acknowledges and agrees that when cash or cheque deposits are made at any other bank:
5.3.1 Investec may at its discretion effect a hold against the payment until it is cleared by the issuing or paying bank;
5.3.2 Investec shall not be liable for errors resulting from incorrect information furnished by the account holder or on the account holder's behalf; and
5.3.3 Investec shall be entitled to reverse any amount incorrectly credited to the account without prior notice to the account holder.
5.4 Notwithstanding anything expressed or implied in the agreement, Investec shall not be liable to the account holder or to any third party for any claim, loss, damages, cost or expense directly or indirectly resulting from or connected with any cash deposit that has been deposited into and credited to the account but which has subsequently been dishonoured for whatever reason, whether or not Investec has notified the account holder of such dishonour.
6. Repayment and charges
The client must pay, at least, the minimum amount payable as indicated on monthly statements rendered by Investec from time to time, by the due date reflected in such statements.
6.1 Where a variable interest rate is charged, the amount of the total interest as well as the amount of the repayments as specified in the Quotation may change if the reference rate changes.
6.2 The client will not be entitled to deduct any amount which Investec may owe to the client from any amount owing or which may become owing by the client to Investec.
6.3 Investec will be entitled to charge transactional fees for all financial services unrelated to the credit facility at Investec's standard rate for fees. These fees include, without limitation, ATM fees, monthly charges, annual charges, account dormancy fees, transaction charges, card replacement fees and delivery costs, where applicable. These fees may be amended from time to time on prior written notice to the client. Monthly or annual charges for the account that are due to Investec will be payable whether or not the card is used by the client.
6.4 Subject to any applicable law, any applicable duties, fees, interest, commissions, charges and taxes payable by the client to third parties will be charged by Investec and/or paid over to the relevant authorities or third parties by Investec and debited to the account regardless of whether the client has accepted the amount or not.
7. Dormant account and unclaimed funds
7.1 Investec reserves the right to classify any account as an inactive account, if the account which contains a positive or zero balance, or the card or any facility or service linked to the account, has not been used for a period of three months.
7.2 An account is classified as dormant if the account which contains a positive or zero balance, or the card or any facility or service linked to the account, has not been used for a period of six months.
7.3 When an account is classified as dormant, the client will not be able to transact on the account, or use the card, credit facility or service linked to the account. When the main account is classified as dormant, the guaranteed account will also be regarded dormant and extra cardholders will not be able to transact on the account or use the cards.
7.4 Investec will notify the main account holder at the main account holder's current address or contact details, before an account is classified as dormant. If the main account holder does not respond to such a notice within three months from the time the account is classified as inactive, Investec reserves the right to close the dormant account. Investec will notify the main account holder before Investec closes the dormant account. No interest will accrue on a credit balance of a dormant account which is closed.
7.5 The account holder will remain entitled to unclaimed funds from the closed account, provided that the main account holder is able to provide Investec with proof of identity and entitlement to the funds.
8. Statements and payments
8.1 Investec will provide monthly statements to the account holder.
8.2 No amount less than the minimum amount due may be paid to Investec and such amount shall be paid by no later than the due date reflected on the statement. Failure to receive a statement will not be cause to withhold or reduce any payment due and payable to Investec.
8.3 The account holder may at any time prepay any amount due to Investec.
8.4 If the NCA applies to the agreement, Investec will credit each payment made by the account holder as of the date of the receipt of the payment as follows:
8.4.1 firstly, to satisfy any due or unpaid interest;
8.4.2 secondly, to satisfy any due or unpaid fees or charges (if applicable); and
8.4.3 thirdly, to reduce the amount of the outstanding capital.
8.5 If the account holder has not denied liability regarding a debt on the account and/or raised a query regarding the correctness of any statement by delivering written notice to Investec within 45 days of the day indicated on the statement as the date of issue of such statement, the account holder shall be deemed to have admitted liability to Investec in respect of such debit and/or to have accepted that statement as true and correct, unless the contrary is proved by the account holder.
8.6 Any record of deposit to the account is subject to verification by Investec and should there be a discrepancy between the account holder’s records and Investec’s records, Investec’s records will constitute sufficient proof of the correctness of Investec’s contentions and the onus shall be on the account holder to prove otherwise.
8.7 All payments made by Investec or the Client to a merchant for any transaction are final and irreversible, unless a reversal is allowed by the Visa rules, regulations and communications as published by Visa from time to time.
8.8 The account holder acknowledges that any refund, reversal or credit by any merchant pursuant to any transaction will not constitute payment by the account holder of any amount due to Investec in respect of the account or any card.
9.1 Interest on all amounts due to Investec in respect of the account will be calculated daily and capitalised monthly in arrears and will be included in the minimum payment due by the account holder ("debit interest"). Debit interest will accrue until such time as the full amount of any transaction or any outstanding balance is paid to Investec by the account holder.
9.2 Interest automatically accrues daily to the account on credit balances (after deduction of cash transactions) at the rate determined by Investec from time to time and advised by Investec in writing to the account holder ("credit interest"). Subject to clauses 7 and 16, credit interest will be credited to the account monthly on the date on which a statement is issued by Investec.
9.3 A purchase made with the card will be eligible for an interest-free period, provided that the outstanding balance is paid in full on or before the due date as reflected in the monthly statement provided to the account holder.
9.4 The rate of interest charged in respect of transactions will be determined by Investec (which rate will not exceed the maximum permissible interest rate prescribed under any applicable law) and will be notified to the account holder from time to time. In the event that the rate of interest is linked to a reference rate, then Investec will notify the account holder of any change in the reference rate not later than 30 business days after the day on which any such change takes effect. If the rate is not linked to a reference rate then Investec will give written notice of at least five business days of any change in the rate of interest. Within 14 days of receipt of notice from Investec that the rate of interest charged by Investec will be varied, the main account holder will be entitled on 60 days' written notice to Investec to terminate the main account and the guaranteed account and to repay in full all amounts outstanding in terms of the agreement, as contemplated in clause 3 of these terms and conditions.
10. Budget facility
The account holder will be entitled to repay an amount due pursuant to any transaction over an extended period ("budget facility"), subject to the following terms:
10.1 the account holder will inform Investec if any transaction is to be repaid through the budget facility;
10.2 Investec will stipulate the maximum extended credit period and the amount of the monthly payments whereby the capital plus interest (as determined in accordance with the provisions of clause 9) and other charges that may be payable in terms of clause 6 must be repaid;
10.3 the interest payable in respect of any transaction effected by the client using the budget facility will accrue in respect of such transaction, from the date on which the transaction is effected by the client;
10.4 failure by the account holder to pay any instalment in respect of the budget facility on the due date shall render the whole amount subject to such budget facility immediately due and payable to Investec;
10.5 the account holder may at any date earlier than that stipulated, repay the whole or any portion of the outstanding balance of the capital, interest and other charges, and must contact Investec to facilitate this payment;
10.6 the budget facility will not be available in respect of any transaction using the Investec Select card.
11. Extra card(s)
11.1 On written application by the account holder and extra cardholder ("extra cardholder application"), Investec will be entitled, but not obliged, in its sole discretion, to issue extra card/s to extra cardholder/s nominated by the account holder. On acceptance by Investec of the extra cardholder application in accordance with the provisions of clause 2.1 (with the necessary changes), the agreement shall apply to the extra cardholder.
11.2 The main account holder and if applicable, the guaranteed account holder, with the extra cardholder must sign the extra cardholder application. The extra cardholder is authorised to operate the account within the credit limit or guaranteed account credit limit, as applicable, and subject to any applicable spending limits. Investec will be entitled to assume that instructions given by the extra cardholder regarding the account are authorised by the main account holder.
11.3 The main account holder will be responsible and liable for all transactions effected by the extra cardholder and for any amount owing to Investec by the extra cardholder.
11.4 An account holder who is a South African citizen has a limited single discretionary allowance ("SDA") when travelling outside South Africa. The extra cardholder if authorised, may use the extra card when travelling outside South Africa. Any transactions performed by the extra cardholder will be taken into consideration when calculating the account holder's SDA.
11.5 At the main account holder's or guaranteed account holder's or extra cardholder's written instruction or request, Investec will cancel the extra card. The main account holder must ensure that the extra card is destroyed or returned to Investec. Failure to destroy the extra card or to return the card to Investec can result in further transactions effected by the extra cardholder and the main account holder will remain liable for payment thereof.
11.6 The liability of the main account holder will continue until the extra cardholder’s card is returned to Investec or the card is destroyed or expires and/or the account is settled in full.
12. Guaranteed account
The guaranteed account shall be used by the guaranteed account holder on the following terms and conditions:
12.1 this agreement will apply to the guaranteed account holder;
12.2 the main account holder is and will remain liable for any outstanding balance (including interest, charges and costs) on the guaranteed account from time to time;
12.3 the main account holder and the guaranteed account holder must sign the relevant application form. On acceptance by Investec of the application form in accordance with clause 2.1 (with the necessary changes) the guaranteed account holder will be entitled to use the guaranteed account; and
12.4 Investec will, on request of the main account holder or the guaranteed account holder and on the return of the card to Investec and repayment of all amounts owing to Investec in respect of the guaranteed account, close the guaranteed account.
12.5 In the event that Investec terminates the main account holder's credit facility or account in accordance with the provisions of clause 16 and/or 18, any guaranteed account will immediately terminate and any extra cards issued will be cancelled.
13. Unauthorised use of the card, the account and lost cards
13.1 The client undertakes to take all reasonable precautions to prevent unauthorised use of the account, the card, credit facility and/or Transactional PIN. These include (without limiting the generality of the foregoing):
13.1.1 memorising the verification mechanisms and destroying any physical record of these mechanisms (which includes deleting any Online Banking Password or Transactional PIN sent by e-communication) and/or keeping such physical record in a safe location away from the card or any device or terminal;
13.1.2 not allowing any other person to use any device or terminal on which any verification mechanism is received or stored, or to use the card, the card number and/or the account number or to by-pass or tamper with any of the verification mechanisms, whether electronically or otherwise;
13.1.3 making use of and/or implementing or procuring implementation of any verification mechanism for each transaction and in particular checking and responding immediately to any e-communication sent by Investec concerning any transaction;
13.1.4 not using the card, card number, Transactional PIN and/or the account in an unsecured environment or at a public device or terminal or at a device or terminal, which is generally accessible by the public (with the exception of point-of-sale devices and ATMs);
13.1.5 not opening or responding to any unsolicited e-communication or e-communication relating to the account where the originator is not known to the client and not accessing or using links to websites, web pages or other internet based content or services not owned, administered or offered by Investec;
13.1.6 not divulging any information to any third party which is personal, confidential or proprietary to the client, except as required under any applicable law;
13.1.7 immediately reporting the theft or misappropriation of the card or any device or terminal used by the client for transactions, to Investec and notifying Investec immediately should any device or terminal cease to operate for no apparent reason or in circumstances which may be suspicious;
13.1.8 acknowledging receipt of and signing the card; and
13.1.9 not leaving the Investec Select card in a motor vehicle or unsecured environment.
13.2 Investec shall not be liable in any way if the client does not take reasonable precautions to prevent unauthorised use of the account or the card (with or without the account number and/or Transactional PIN). Specifically but without limitation, Investec shall not be liable in any way if the client uses any verification mechanism in a public place or in any other unsecured environment in such a manner that the confidentiality and secrecy of the verification mechanisms is compromised. Similarly, Investec will not be liable in any way if the client does not make use of or does not implement or does not respond to any verification mechanism or if the client stores or records any verification mechanism on a computer, phone or network.
13.3 If the card, or any device or terminal used by the client for transactions, is lost, stolen, misappropriated or if someone other than the client uses the device or terminal or the card and/or the card number and/or the account and/or the account number or has knowledge of the verification mechanisms (the "card events"), or the client has reason to believe that any of the card events has occurred, the client will be obliged immediately to notify the Investec global client support centre telephonically. Any delay in providing the notification to Investec will be presumed to be sufficient proof of negligence on the part of the client and the client will bear the onus of proving the contrary. Investec shall upon notification do whatever it reasonably can to assist the client in retrieving any funds that have been misappropriated however cannot guarantee that that such funds will be retrieved in full and can therefore not be held accountable to the extent that the funds (or any portion thereof) cannot be retrieved.
13.4 If any of these events occur, the client will be liable for any payments made by Investec in respect of any transaction prior to the notification to Investec in accordance with clause 13.3.
13.5 The client acknowledges and agrees that contactless transactions are conducted at the client’s own risk.
13.6 If any transaction does not require any verification mechanisms, the client will be liable for any loss due to payments made by Investec in respect of such transaction, regardless of whether any of the card events have occurred, prior to the notification to Investec in accordance with clause 13.3.
14. Dispute and claims
14.1 Investec shall not in any way be liable to the client if the card is not acceptable to, or is dishonoured by, any merchant and/or any other party for any reason or if Investec declines to approve any transaction.
14.2 Any claims or disputes between the client and any merchant regarding payment of, the nature, quality or quantity of any goods acquired or services rendered from or by the merchant or on the merchant’s behalf or any other matter or thing, will in no way limit or affect Investec’s rights to debit the account or receive payment (to the extent applicable) or give rise to any rights of set-off or counterclaim against Investec.
14.3 Where a client wishes to dispute a card transaction, such dispute (which will be authenticated in line with Investec's authentication policy), must be received by Investec within 90 days from the transaction date and the client must provide proof that the card transaction was not authorised. The client may only submit 35 card transaction disputes from the time the first dispute is raised during the 90 day period.
14.4 Where the client is obliged to provide proof of purchase, submission of the client's signature will be deemed to be sufficient (prima facie) proof of the particulars contained in the voucher. Failure to sign when required, including mail orders or written authorities, will not release the client from liability to Investec.
14.5 The client acknowledges that no merchant is an agent of Investec or otherwise acts on Investec’s behalf. Any refund to the client by a merchant will be credited to the client’s account on Investec receiving the appropriate electronic credit transaction from Visa.
14.6 The client shall not be entitled to countermand any payment made, or to be made, by Investec in respect of any transaction effected by using the card or account or the account number.
14.7 If any transaction is incorrectly queried or disputed by the client, interest will accrue in the normal course in respect of that transaction and Investec will be entitled to charge a fee.
15. Failure/malfunction of networks and devices
Investec will not be responsible for any failure, malfunction or delay of any networks or electronic or mechanical device or terminal used in the acceptance and processing of transactions and any other use of the card. Investec will not be liable to make good or compensate the client for any damages, losses, claims or expenses resulting, and the client indemnifies Investec accordingly.
16. Suspension or cancellation of the card and suspension or termination of the credit facility or account
16.1 The card will always remain the property of Investec, and, without Investec losing any right to any claim which it may have against the client, if the client is in default under the agreement as contemplated in clause 18, Investec will have the right to suspend the card at any time or demand the return of the card and cancel the card.
16.2 Investec may:
16.2.1 suspend the credit facility and suspend the account on notification of the death of the main account holder or on notification of the death of the guaranteed account holder suspend the guaranteed account;
16.2.2 reduce, restrict the use or suspend the credit facility or suspend the account at any time the client is in default under the agreement; or
16.2.3 reduce, restrict the use of or suspend the credit facility and/or account without notice if it suspects that the account has been used fraudulently, negligently, unlawfully, for money laundering activities or financing terrorist and related activities; or
16.2.4 close the credit facility by giving written notice to the account holder at least 10 business days before the credit facility will be closed.
16.3 In the event of Investec exercising its rights in terms of clause 16.2 above, the agreement will remain in effect to the extent necessary until such time as the main account holder or the executor of the estate of the main account holder has paid all amounts lawfully charged to the account.
16.4 Investec may close an account:
16.4.1 by giving the account holder reasonable prior notice of its intention to do so in the circumstances contemplated in 16.5; or
16.4.2 without notice to the account holder, in accordance with 16.6.
16.5 Investec is not obliged to furnish the account holder with reasons, if any, for exercising its rights to close an account but it may elect to do so in circumstances which may include:
16.5.1 if the actions of the accountholder or the guaranteed accountholder, as reported in the media, may cause reputational harm to Investec;
16.5.2 if Investec is obliged to comply with its legal and regulatory obligations or any other applicable law, code and/or or duty applicable to it;
16.5.3 if the client has acted in an abusive or threatening manner to Investec’s staff;
16.5.4 if Investec is reasonably of the opinion that keeping the account open may expose it to action or censure from any government, regulator or law enforcement body;
16.5.5 if Investec reasonably suspects that the client has provided it false or misleading information or is refusing and/or failing to supply information or documentation reasonably requested by Investec; or
16.5.6 if Investec is reasonably of the opinion that the business relationship with the client has broken down or that Investec can no longer offer the services required by the client and/fulfil the client’s needs.
16.6 Investec reserves its right to protect its interests and, in doing so, may close an account without furnishing the account holder with prior notice thereof. The circumstances in which Investec may elect to close an account without notice to the account holder may include:
16.6.1 if Investec is compelled to do so in terms of applicable laws and/or by international best practice; or
16.6.2 if the account holder has not used the account for a period of time, as set out in clause 7 above; or
16.6.3 Investec has reasons to believe that an account is being used for any illegal purposes including Sanctioned Transactions.
16.7 The client shall not be entitled to use the card, the card number, the account, the account number or the credit facility after it has been cancelled, suspended, or closed and/or terminated or the time period stipulated on any card has expired.
17. Implications of suspension or closure of the account and suspension or closure of the credit facility
17.1 If the account and/or the credit facility has been suspended or closed in accordance with clauses 16 and/or clause 18, and without prejudice to any of Investec’s rights in terms of this agreement or at law:
17.1.1 any card issued in respect of the account may no longer be used and must be destroyed and returned to Investec. The client undertakes to destroy the card by cutting the card vertically across its mag-strip and integrated circuit chip to prevent unauthorised use in the event that the card is intercepted. Failure to do so will result in the client being liable for any unauthorised use of the card and the client indemnifies Investec accordingly;
17.1.2 Investec may notify any merchant or any person who Investec thinks should know of the suspension or closure of the account or the credit facility without incurring any liability;
17.1.3 the agreement will remain in effect until the main account holder has repaid all amounts charged to the account;
17.1.4 the client will not be entitled to use the card, the card number, the account or the account number;
17.1.5 access to any other product or service provided or offered by Investec or the Investec Group (including Investec Online and the Investec App) may be terminated;
17.1.6 the client is responsible for ensuring that any debit orders or payment instructions applicable to the account are amended, cancelled or withdrawn timeously;
17.1.7 to the extent permissible in law, Investec retains its rights to set off or other similar right which Investec may have under this agreement or at law;
17.1.8 subject to 17.1.7, the client will provide Investec with instructions to pay any credit balance on the account unless such closure, restrictions, reduction or suspension of the credit facility and/or account is done in terms of clause 16.2.3 above or Investec is, by law and/or regulation, prevented from giving effect to such instruction;
17.1.9 if further payments are presented to Investec for settlement after the account or credit facility has been suspended or closed which Investec cannot refuse, the client must pay these amounts to Investec on demand;
17.1.10 subject to clause 18, if there is any amount owing in respect of the account, the account holder must continue paying the minimum amount payable as indicated on the monthly statements rendered by Investec as contemplated in clause 6 above until the total amount owing to Investec under the agreement is irrevocably paid in full.
18.1 Default in terms of the agreement will occur if:
18.1.1 the client fails to make payment of any amount due and payable to Investec timeously, whether in terms of this or any other agreement between the client and Investec and/or the Investec Group; or
18.1.2 in the reasonable opinion of Investec, there is a material deterioration in the financial position of the client; or
18.1.3 the client breaches any of the terms and conditions of this agreement, or any other agreement between the client and Investec and/or the Investec Group, and fails to remedy the breach within the timeframe stipulated in writing to the client; or
18.1.4 the client, being a natural person, publishes a notice of the voluntary surrender of the client's estate; is placed under administration or fails to comply with a debt review or in the event of the credit facility is placed under debt review order or process or commits an act of insolvency as defined in the Insolvency Act 24 of 1936 or an application or other proceedings have been brought against the client or in respect of the client, in terms of which the client is sought to be sequestrated or placed under curatorship, in any such event whether provisionally or finally, whether voluntarily or compulsorily; or
18.1.5 the client, not being a natural person, is dissolved, deregistered, wound up or liquidated, or an application is brought for its dissolution, deregistration, winding-up or liquidation, in any event whether provisionally or finally and whether voluntarily or compulsorily, or passes a resolution providing for any such event; or is deemed to be unable to pay its debts; or resolves that the client voluntarily begins business rescue proceedings or has any business rescue proceedings commenced against it; or
18.1.6 the client is "financially distressed" as defined in the Companies Act, 71 of 2008, or is reasonably likely to become financially distressed within the immediate ensuing 12 month period, or Investec determines that there are reasonable grounds to believe that the client is financially distressed or that the client will become financially distressed within a period of six months from the date of determination irrespective of whether or not, in the case of a company or close corporation, its board of directors or its members resolve to commence business rescue proceedings;
18.1.7 the client begins negotiations or institutes any proceedings or takes any other steps to compromise, defer, re-adjust and/or reschedule the repayment of the client's indebtedness (or any part thereof) to one or more of the client's creditors;
18.1.8 the account holder, or any other person authorised to act for the account holder, makes any representation, warranty or assurance in connection with the application for the credit facility and/or any other Investec or Investec Group product, or supplies any information or documentation to Investec, which is, in Investec's opinion, materially incorrect; or
18.1.9 the client generally does or omits to do anything which may affect Investec's rights in terms of the agreement; or
18.1.10 judgment of a competent court is granted against the client; or
18.1.11 Investec suspects or discovers that the client has committed fraud or any criminal act, including a Sanctioned Transaction; or
18.1.12 the client, in the reasonable opinion of Investec, commits a breach of applicable laws or does or omits to do anything which may cause harm to Investec's reputation or expose Investec to risk.
18.2 If a default has occurred under this agreement (as contemplated in terms of clause 18.1 above), and this agreement is subject to the NCA, then Investec may:
18.2.1 give the main account holder and/or guaranteed account holder written notice of such default and may propose that the main account holder and/or guaranteed account holder refer the agreement to a debt counsellor, alternative dispute resolution agent, consumer court or ombud with jurisdiction, with the intent that the parties resolve any dispute under the agreement or develop and agree on a plan to bring payments under the agreement up to date ("the Notice of Default");
18.2.2 terminate the agreement and/or commence legal proceedings to recover all amounts due and owing to Investec under this agreement, if:
188.8.131.52 Investec has delivered the Notice of Default, or it has given notice to terminate any debt review process under section 86 of the NCA which may then be underway in respect of the agreement; and the account holder has been in default under the agreement for at least 20 business days; and at least 10 business days have elapsed since Investec delivered the Notice of Default; and
184.108.40.206 the account holder has not responded to the Notice of Default or responded to the Notice of Default by rejecting Investec's proposal set out therein;
18.2.3 recover collection costs and default administration charges, from the account holder.
18.3 If default in terms of the agreement has occurred, as contemplated in clause 18.1, and the agreement is not subject to the NCA, Investec may exercise its rights, as may be permissible in law and without prejudice to any of Investec's other rights, which include any one or more of the following:
18.3.1 closing or suspending the account and/or the credit facility;
18.3.2 demanding immediate payment of all amounts owing to Investec under this agreement;
18.3.3 terminating the agreement; and/or
18.3.4 enforcing any security furnished by the account holder and held by Investec.
18.4 If the agreement is not subject to the NCA, the client will be liable for all legal costs, on an attorney and own client scale or as otherwise permissible in law, in recovering any amount that the client owes Investec.
19. Personal Information
19.1 The client undertakes to furnish Investec with all information and/or documentation required by Investec from to time in terms of the Financial Intelligence Centre Act 38 of 2001 including any guidance notes applicable and/or any procedures Investec is required to adhere to in order to establish and verify the identity of all parties it is require to verify including without limitation the accountholder and ultimate beneficial ownership.
19.2 The account holder acknowledges that Investec may transmit to (a) registered credit bureau(x) and/or any crime prevention organisation, information concerning:
19.2.1 the account holder's application for a credit facility, the agreement and the termination thereof as well as information about the account;
19.2.2 the supply by the account holder of false, misleading or dishonest information whether to Investec or any other third party which Investec may become aware of;
19.2.3 use by the account holder of the credit facility and/or account in such a way as to avoid any liability through deception;
19.2.4 any non-compliance by the account holder with the terms of the agreement.
19.3 The client acknowledges that such credit bureau will provide a credit profile and possibly a credit score on the creditworthiness of the client. The client has the right to contact such credit bureau(x), to have the credit record(s) disclosed and to correct any inaccurate information.
19.4 The client agrees that Investec may:
19.4.1 make enquiries to confirm and verify any information provided by the client in the application form from any source whatsoever;
19.4.2 seek information from any credit bureau when assessing the client's application and at any time during the existence of the account.
19.5 The client acknowledges and expressly consents thereto that Investec may:
19.5.1 verify information provided by the client to Investec and generally make whatever enquiries it deems necessary from any source whatsoever to establish the creditworthiness of the client;
19.5.2 process the personal information of the client to conclude the agreement and for purposes of maintaining the account, providing services to the client, including any benefits attached to the account and complying with the instructions of the client;
19.5.3 disclose the personal information of the client to entities involved in providing any benefits attached to the account such as travel insurance, airport lounge access or Investec Rewards
19.5.4 disclose the personal information of the client to financial institutions who have received payments made by the account holder in order for that institution to identify the payor of the funds;
19.5.5 disclose the personal information of the client contained in the application form, and any other documentation in relation to any of the client's accounts to other entities in the Investec Group, if the client has applied for further accounts, products or services at any other entity within the Investec Group in order for such entities to assess and monitor the client's application and to comply with any legislation in that jurisdiction;
19.5.6 process and disclose the client's personal information including information as set out in clauses 19.2.2 and 19.2.3 above, to third parties, including without limitation the South African Fraud Prevention Service, SABRIC NPC and/or any other crime prevention service, body or organisation, for purposes of the prevention, detection and reporting of fraud and criminal activities, the identification of the proceeds of unlawful activities and the combating of crime;
19.5.7 process and report on the personal information of the client to comply with an obligation imposed by applicable laws, inter-bank agreements and payment clearing rules on Investec and any other entity within the Investec Group;
19.5.8 provide the client's financial information to any person who has agreed to provide security for the indebtedness of the client.
19.6 The client has the right to access the client’s personal information held by Investec. Investec will grant the client such access during office hours within a reasonable time after receiving a written request for access.
19.7 Investec takes privacy and data protection seriously. The processing of the client’s personal information is subject to the provisions of Investec's Data Protection Statement, as may be amended from time to time. By submitting any personal information to Investec the client agrees to these provisions, and which the client can access at www.investec.co.za/legal.html.
20. Dispute Resolution
If the agreement is subject to the NCA, the client may resolve a complaint by alternative dispute resolution, file a complaint concerning an alleged contravention of the NCA by Investec with the National Credit Regulator or make an application to the National Consumer Tribunal or the Ombudsman for Banking Services and the Consumer Affairs Court.
21. Default Administration Charges
If the agreement is subject to the NCA and the account holder defaults on any obligation under the agreement, Investec may levy default administration charges in respect of each letter Investec needs to write to the account holder. Such charges will be equal to that payable in respect of a registered letter of demand in an undefended action in terms of the Magistrates' Court Act together with necessary expenses incurred in delivering the letter.
22. Collection Costs
If the agreement is subject to the NCA, Investec will charge in respect of enforcement by Investec of any payment obligation under the agreement, all costs incurred by Investec in collecting (as contemplated in the NCA) any amount due and/or payable, in terms of:
22.1 The Superior Courts Act, 2013;
22.2 the Magistrates' Court Act, 1944;
22.3 the Attorneys Act, 1979;
22.4 the Debt Collector's Act, 1998 as the case may be, but excluding any default administration charges contemplated in clause 21 above.
23. Debt counsellor
If the main account holder experiences difficulty in meeting repayments, Investec invites the main account holder to contact Investec without delay. If the main account holder is an individual and the credit facility is subject to the NCA, the main account holder has the right to apply to a debt counsellor to be considered for an order to be declared over-indebted in terms of section 86 of the NCA (in accordance with the process set out in that section). The main account holder should inform Investec immediately of such application.
24. Notices and domicilium
24.1 The residential address given by the client on the application form will be the client’s chosen domicilium citandi et executandi ("domicilium") (ie the address where at which all notices for purposes of legal process in terms of the agreement may be served on or delivered to the client).
24.2 The client may, by written notice to Investec, change his/her/its domicilium to any other physical address in South Africa or email address. Any such change of domicilium will only be effective 14 days after the date on which Investec receives the notice.
24.3 Investec will deliver all notices to the client by prepaid registered post, ordinary mail, email, printable web-page or delivery by hand to the client's domicilium, subject to the NCA to the extent that the NCA applies.
24.4 Any notice to the client by Investec will be deemed (unless the contrary be proved) to have been received by the client on the 10th day after posting, or on the same day if delivered during ordinary business hours by hand or sent to the client's chosen email address or transmitted by printable web page (if applicable).
24.5 All and any notices or communications by the client to Investec must be in writing and sent by prepaid registered post or by hand to Investec’s head office at 100 Grayston Drive, Sandown, Sandton.
24.6 All and any notices or communication by Investec to the client will be in the manner selected by the client in the application form.
Notwithstanding anything to the contrary contained or implied in this agreement, a written notice or communication actually received by the client or Investec will be adequate written notice or communication.
25. Travel insurance
Travel insurance benefits ("complimentary benefits") will be provided to clients, family, and any person named on the travel insurance certificate ("insured traveller") (or where the client is an entity, its directors, employees, contractors or associates travelling for business purposes), without any cost to the client, where the client has used the card to purchase public transport carrier tickets for international travel that starts and ends in South Africa.
Complimentary benefits are restricted to medical emergencies and related expenses abroad as well as personal accidents and are limited to a period of 90 days from the date of travel.
The terms, conditions exceptions and exclusions pertaining to such complimentary benefits will be determined in accordance with the provisions of the master insurance policy then in force. This policy will be made available to each individual covered under the policy, on request, or can be viewed at https://www.travelbyinvestec.co.za/uat-insurance/insurance.php.
26. Investec Select card
26.1 An Investec Select card may only be used in respect of the motor vehicle for which it was issued and reflects the registration number of that motor vehicle on the Investec Select card.
26.2 The Investec Select card will be used solely for the purpose of purchasing petrol, diesel, lubricating and/or transmission oil or brake fluid from merchants, and may also be used for the purchase of goods at convenience stores and for toll road levies in South Africa.
26.3 The Investec Select card will not be used for any services or maintenance repairs or the purchase of parts in respect of a motor vehicle.
26.4 The main account holder shall be responsible and liable for any Investec Select card transaction effected by the nominated cardholder notwithstanding that the spending limit may have been exceeded, subject to applicable law.
27. Airport Lounge Access
27.1 Clients will have access to certain airport lounges on presentation of their boarding pass and valid card at the lounge.
27.2 Access to airport lounges are always subject to the lounge’s operating hours, capacity constraints and the lounge operator’s terms and conditions.
28. Investec Rewards
As a benefit to being an account holder of Investec in possession of a valid card, an account holder will immediately be eligible to participate in the Investec Rewards in accordance with its terms and conditions.
29. Transmission of information
29.1 The client undertakes to sign or execute any documentation as may from time be required by Investec arising from any telephonic, internet or mobile banking conducted by the client with Investec. The client expressly consents to Investec taking whatever security precautions it may consider for such purposes and for purposes of recording instructions from the client (including the recording of telephone conversations between the client and employees of Investec, with or without use of an automatic tone warning device). The client agrees that Investec’s recordings will be sufficient evidence of the instructions or conversations so recorded and that Investec may deliver copies or transcripts of such recordings to any court or regulatory authority. Investec is not required to maintain copies of such recordings and transcripts.
29.2 With regard to instructions given or received by electronic medium, the client requests and authorises Investec to rely on and act in accordance with any instruction which may from time to time be, or purport to be, given by the client in its name. In authorising Investec to rely on and act in accordance with any instruction given by electronic medium, the client acknowledges that electronic medium is an inherently unreliable medium of communication and that such unreliability is beyond the control of Investec. The client acknowledges that as a result of such unreliability there may be delays in the transmission and receipt of instructions or other information and that this may result in delays in the execution of instructions sent by electronic medium. The client further acknowledges and agrees that, generally, it will not be possible to cancel or revise an electronic instruction after it has been given.
29.3 Without prejudice to the above, the client agrees that Investec may deem any such instruction purported to be given by the client as authentic, valid and properly executed on the client’s behalf and that it will be binding on the client, notwithstanding that such instruction may have been made without or in excess of authority from the client and/or any error, misunderstanding, fault, forgery or lack of clarity may have been made or contained in the terms of such instruction. Investec will be entitled to rely on and act in accordance with, instructions received from any person authorised or allegedly authorised to access or use the account, the account number and/or the card number, by virtue of any authority, resolution, mandate or power of attorney ("authority") provided by the client or nominee to Investec, unless such authority has been specifically cancelled by the client in writing and Investec has acknowledged such cancellation in writing or otherwise.
29.4 The client acknowledges that information transmitted by electronic medium is susceptible to monitoring and interception. The client is therefore discouraged from transmitting to Investec any information which may be confidential, proprietary or secret. The client will bear all risk of transmitting such information in this manner and under no circumstances will Investec be liable for any loss, harm or damage suffered by the client as a result thereof. Investec reserves the right to request independent verification of any information transmitted by electronic medium and the client consents to such verification from whatsoever source should Investec deem it necessary.
29.5 Investec requests that no unsolicited confidential or proprietary information be sent to Investec. Any such unsolicited information or material sent to Investec will be deemed not to be confidential, unless otherwise agreed in writing by Investec. Notwithstanding the aforegoing and subject to the agreement, Investec will not send or forward any personal client information to any party, unless obliged to do so by law. The client’s attention is drawn to the fact that any email sent by Investec to the client will not be encrypted and Investec is not liable for any loss suffered by the client resulting from any email Investec sends to the client, unless the loss is caused by Investec’s gross negligence or fraud.
To the extent permissible in law, the client hereby consents and submits for purposes of Investec taking legal steps to enforce any of its rights in terms of the agreement, to the jurisdiction of any division of the High Court. This does not prevent Investec from bringing legal proceedings in any court that has jurisdiction.
The parties agree that the setting aside or suspension of any provision contained in the agreement will not render the agreement void, but such provision will be severed from the agreement or altered by a court or tribunal of competent jurisdiction (if it is reasonable to do so having regard to the agreement as a whole).
32.1 A certificate signed by any manager of Investec specifying the amount owing by the client to Investec and further stating that such amount is due, owing and payable by the client to Investec, will be sufficient (prima facie) proof of the amount thereof and of the fact that such amount is so due, owing and payable for the purpose of obtaining provisional sentence or other judgment in any competent court. It will not be necessary to prove the appointment of the person signing any such certificate.
32.2 Notwithstanding anything to the contrary in the agreement, Investec will be entitled to amend the terms and conditions from time to time by giving the account holder reasonable prior notice of any such change.
32.3 The notice referred to in clause 32.2 will give the account holder an opportunity to terminate the agreement in accordance with the provisions of clause 3 before the new terms and conditions apply. If the main account holder continues to use the account after the new terms and conditions begin to apply, the amended terms and conditions will apply to the account.
32.4 No amendment or consensual cancellation of the agreement by the client and no settlement of any dispute arising under the agreement and no extension of time, waiver or relaxation or suspension of any of the terms and conditions of the agreement or any estoppel against Investec will be binding on Investec, unless recorded in a written document signed by Investec and the client. Any such extension, waiver, relaxation, suspension or estoppel which is so given or made will be strictly construed as relating only to the matter in respect whereof it was made or given.
32.5 No party will be bound by any express or implied term, representation, warranty, promise or the like not recorded in the agreement. The client will immediately inform Investec of any change of name, status or other details provided by the client, in particular if he or she has applied for debt review, is under an administration order, business rescue proceedings, liquidation, sequestration or any other form of insolvency (whether provisional or final) or is about to or has emigrated. Investec will be entitled but not obliged to refuse to act on instructions given by the client using a different name or in circumstances where Investec is aware of any change in detail or status, until Investec is provided with the necessary documentary proof to its satisfaction.
32.6 The client warrants that all information given to Investec by the client, whether in terms of any application form, authority or payment instruction or via any service provided by Investec, or otherwise, shall be accurate and correct and shall constitute sufficient proof of the facts contained therein. Investec will be entitled to rely on any such information given as contemplated in this clause 32 and will not be liable howsoever in the event that it relies on or uses such information.
32.7 The agreement is confined to the use of the card and the account. Any access to and use of any other product or service provided or offered by Investec or the Investec Group through whatever medium of access available (including without limitation Investec Online and the Investec App as well as mobile payment services) is subject to and governed by whatever terms and conditions apply to such products, services and access media ("ancillary conditions"). The client acknowledges that to access and use such other products and services, the client shall be obliged to comply with the ancillary conditions. Investec will be entitled, but not obliged, to refuse to process any transaction or to act on any instructions given by the client until the client has complied with the ancillary conditions. Investec will not be liable for any loss suffered or expense incurred by the client as a result of any such refusal.
32.8 The existence of a link or reference from the website to any other website, web pages or other content or service does not constitute Investec’s recommendation or approval thereof.