Online Banking Intermediary Disclosure
DISCLOSURES BY INVESTEC BANK LIMITED IN ACCORDANCE WITH THE CONSUMER PROTECTION ACT, 68 OF 2008 ("CPA") AND SECTION 43 OF THE ELECTRONIC COMMUNICATIONS AND TRANSACTIONS ACT, 25 OF 2002 ("ECT ACT")
1.1 This disclosure document should be read together with the Online Banking Terms and Conditions.
1.2 Investec Bank Limited ("Investec") sells Vodacom, MTN, Cell C, Telkom, Telkom Mobile, WorldCall, Neotel and Virgin Mobile ("Service Providers") cellular data and airtime ("the products") and to this extent acts as an intermediary for the Service Providers in respect of the sale of the products via Investec's online portal ("the intermediary services").
1.3 To the extent that Investec acts as an intermediary for the Service Providers it is obliged to make certain disclosures in accordance with the CPA. To the extent that the intermediary services are provided via Investec's online portal Investec is required to make certain disclosures in accordance with section 43 of the ECT Act. These disclosures are contained in this disclosure document. Investec provides various services other than the intermediary services, including specialist banking, asset management and wealth and investment management services. The disclosures made in this document relate only to the intermediary services provided by Investec in respect of the sale of the products.
1.4 You are requested to read and consider these disclosures in respect of the intermediary services rendered by Investec for the Service Providers.
Disclosures in Respect of Investec
2.1 The intermediary services are provided by Investec Bank Limited (referred to as Investec) a limited liability company duly incorporated in terms of the company laws of the Republic of South Africa with registration number 1969/004763/06.
Investec has its principle place of business and business address at:
100 Grayston Drive
2.2 Investec is a member of the Banking Association of South Africa, is registered with the National Credit Regulator (NCRCP9) and is registered with the Financial Services Board (FSP No. 11750). The details of Investec's membership and registration with these bodies can be found at https://www.investec.co.za/legal/code-of-banking-practice.html. Investec is furthermore committed to the Code of Banking Practice as regulated by the Ombudsman for Banking Services.
2.3 Investec's general contact details in respect of the sale of the products are as follows –
2.3.1 postal address:
PO Box 785700
2.3.2 phone numbers:
+27 11 286 7000
+27 11 286 7000
2.3.3 website address:
2.3.4 email address:
2.4 Investec's list of public officers can be found at https://www.investec.co.za/about-investec/who-we-are/corporate-governance.html.
Investec will accept service of all legal notices at this address
Disclosures in Respect of Financial Aspects of the Transaction
3.1 Investec is entitled to a commission in respect of the sale of cellular data or airtime on behalf of the Service Providers to you. This commission is calculated as a percentage of the total cost of cellular data or airtime sold to you and varies from Service Provider to Service Provider.
3.2 Investec will, on your request, make information available in respect of any commission, consideration fees, charges or brokerages it receives from any other persons relating to the provision of the intermediary services (if any).
3.3 Investec will under no circumstances be entitled to recover any further costs from you in respect of the sale of the products.
3.4 Investec discloses that it has never been placed under liquidation or judicial management.
Investec agrees to keep the prescribed records of all relationships and transactions with regard to the intermediary services for a period of three years.