1.1. "merchant" means any supplier of goods and/or services who is enabled and authorised to process Send Cash Functionality; 

1.2. "recipient" means the nominated recipient of a redemption code and remittance amount;

1.3. "redemption code" means the unique code generated and issued by Investec and sent by means of a SMS notification to the recipient;  

1.4. "remittance amount" means the amount to be withdrawn as requested by the client and specified in the SMS notification sent to the recipient;  

1.5. "Send Cash Functionality" means the  service offered by Investec to its clients whereby clients are able to, through their mobile banking or online banking, send cash to a recipient by sending a redemption code to the recipient’s mobile phone number which the recipient can use to redeem the relevant amount of cash at a merchant;


1. Send Cash Functionality 

1.1 By using the Send Cash Functionality service, the client acknowledges that a withdrawal of the remittance amount is deemed to be effected at the time of the client's request, subject to clauses 1.2.3 and 1.2.5 below.  

1.2 The client acknowledges and agrees:

1.2.1 to take all reasonable precautions to prevent unauthorised use of the redemption code and shall notify Investec immediately if the mobile phone to which a redemption code was sent has been lost, stolen or malfunctions;  

1.2.2 that the correct recipient's mobile phone number must be entered to ensure a successful allocation of the redemption code; 

1.2.3 Investec cannot be held liable for any losses suffered as a result of: an incorrect mobile phone number being entered by the client; or the redemption code not being received as a result of the recipient’s mobile network not being available at the time that the redemption code is sent;and the intended recipient not receiving the redemption code as a result thereof;  

1.2.4 whilst Investec will assist as far as possible with the resolution of any queries,  Investec shall not in any way be held liable if  a merchant cannot perform or comply with the Send Cash Functionality as a result of the merchant's failure or malfunction of its systems or unavailability or lack of the requested remittance amount;

1.2.5 that Investec will charge the client a non-refundable fee and the client shall be liable for the fee regardless whether the client cancels the redemption code before the remittance amount is redeemed or whether the remittance amount is  redeemed by the recipient or should the redemption code expire. The fees charged will be debited from an account nominated by the client;

1.2.6 that the redemption code will expire upon expiration of a certain time period, as advised by Investec from time to time, if not presented by the recipient at a merchant. In the event that the redemption code expires, the client will be refunded the remittance amount.