This agreement applies to you if you use any of the following self-service channels: online, USSD or mobile app offered by
IMB Financial Services (Pty) Limited, with the registration number 2011/137451/07 at IMB House, 97 Loop Street, Cape
Town, 8000 (“IMB”)

IMB Financial Services (Pty) Limited is an Authorised Financial Service Provider: FSP No.: 43443

This agreement contains the rights and obligations between account holders and IMB.

1. Account Holder :

a. You are an account holder if you are registered with an IMB account or have been authorised to use an IMB account.
You, as either an account holder or authorised user, will be bound by these Terms and Conditions.

i. I will instruct all actions to be taken on my account and with my money via the authorized systems provided by
IMB, who will perform a daily reconciliation on my account and provide compliance with all regulatory
requirements demanded by the Standard Bank of South African,the Payment Association of South Africa and the
Financial Services Board.

ii.I hereby appoint IMB as my Third Party Payment provider. IMB may accept money on my behalf from multiple
payers (including myself) and may make payments on my behalf to multiple beneficiaries (including myself) based
on instructions given by me via IMB.

iii. I accept that IMB operates and functions within the requirements of the Electronic Transactions and
Communications Act, and as such whenever I click “Submit” or “Accept” following my logging-in using my Personal
Identification Number (PIN) and User Name, such action will be deemed an electronic signature by myself and am I
bound by the terms and conditions as presented by the preceding action.

iv. Transaction history will be stored as required by law. You will have access to statements of up to 3 months and a daily 30-day transaction history.

v. Transactions that have been incorrectly entered by you or that have experienced a processing problem during a transmission may be refunded but only after thorough vetting of the transaction by the IMB compliance
department.

vi.IMB subscribes to the Protection of Personal Information as provided for in Section 51 of the Electronic Transactions and Communications Act.

vii.I accept that under the Electronic Transactions and Communications Act I have 7 (seven) days to cancel without any reason this agreement and that IMB must with Thirty (30) days refund all monies paid to it for the supply of its services less cost of account closure.

viii.I consent to IMB carrying out identity and fraud prevention checks and sharing information relating to this application with the South African Fraud Prevention Service (SAFPS). Should my conduct of my account at any time in the future reasonably cause IMB to suspect that my accounts are being used for improper purposes, I consent to
IMB providing details of this suspicion to the SAFPS. I understand and agree that the record of this suspected fraud
will then be available to other members of the SAFPS if they carry out credit/other checks on my name.

ix.I consent to you checking my credit record with any credit reference agency. I also consent to you providing credit reference agencies with regular updates about the conduct of my accounts, including the failure to meet the agreed terms and conditions. I also agree that the credit reference agencies may, in turn, make my record and
details available to other credit grantors.

2. Commencement of the agreement:

You will be bound by the terms and conditions as soon as any of the following happen:

  • When you register to use any of the service channels
  • When you gain access to use any of the service channels or download any software that enables the use of the
    channels
  • When you begin to use any of the service channels.

3. Services available:

In terms of this agreement, you will be able to use the following services:

(1) Deposit of money into your account(s)

(2) Payments of other people’s accounts or your own account(s)

(3) Purchase of Pre-paid products and services offered by IMB or their partners

(4) Payments of merchant accounts

4. Registration:

You are responsible to ensure that you have the necessary equipment and software to use the service channels. Any information provided to IMB during registration is confidential and private. IMB will not disclose this information to anyone unless:

  • IMB is legally compelled to do so
  • It is in the public interest to do so
  • The disclosure is made, at your request, with your written consent.

5. Authorising another to act on your behalf as your agent:

By allowing an authorised user to access your account using the service channel, you provide that person with the authority to act as your agent. Any act or omission by the user will be considered as your act or omission.

6. Access information:

You must enter the correct access information to identify yourself whenever you use or logon to the service channels.IMB is obliged to act on and accept all transactions done after your access codes have been entered or applied. The following access information is of specific importance:

(1) Your physical address, as provided on your application, or as changed by notification to IMB in writing, will be used for all legal notices.

(2) Your phone, email, fax or postal address on IMB’s records will be used for any other correspondence.

(3) Notices provided from IMB will be regarded as having been received by you:

• Within seven days after posting, on the date of delivery if sent by hand

• At the time of transmission if sent by fax

• At the time of receipt if sent electronically

7. Security of your access information, cards and equipment:

You are responsible for the safekeeping and proper use of your card, PIN and username and password. Never give or show anyone your access information, including any person who is an employee of IMB, or claiming to work for or
represent IMB in any way. Never respond to requests to enter or “confirm” your access codes sent to you via email,
SMS or instant messaging. If you respond to any of the situations mentioned above and lose money as result of doing
so, IMB is not responsible and will not be able to refund you. You indemnify IMB against any damages, loss or liability
that IMB might suffer as a result of any unauthorised access and/or use of your card.

8. Cancellation of Access codes:

If you suspect or know that your access code(s) have been lost, stolen or used without your authorisation, you must notify IMB immediately and request a cancellation. If your cellphone is lost or stolen, you must immediately notify IMB and request us to delink your cellphone from your online profile. Delay in notifying IMB may be considered as negligence on your part and you will be responsible for all transactions prior to the account being stopped. After cancellation, IMB will reject all transactions done from the date on which your access code(s) were cancelled. IMB
reserves the right to block your access to the service channels at any time to maintain or restore security, if we
reasonably believe that your access code(s) have been or may be obtained or are being used or may be used by an
unauthorised person(s).

9. Cancellation of Access Codes of Authorised Users:

You must notify IMB in writing if an authorised user’s access rights must be changed or cancelled. When an authorised user is no longer allowed to transact on your account, you or IMB has the right to demand that they return any physical devices given to them to transact, including their Card. When you, as the account holder, take back the authorised
user’s physical access device, you must notify us in writing or via the helpline that the authorised user’s access rights
must be cancelled, and that the card or device must be destroyed or returned to IMB.

10. Monitoring your use of the Service Channels and your conversations with IMB:

All conversations between you and IMB during calls to our Customer Care Call Center are recorded. IMB may monitor and record communications or traffic on the service channels to:

  • Maintain the proper functioning and safety of IMB’s systems
  • Investigate or detect any unauthorised use of the service channels or systems
  • When the law requires IMB to do so.

11.Transaction Fees:

All fees for using IMB’s services will be deducted from your IMB account. These fees will be deducted immediately after confirmation of the completion of the transaction. IMB cannot act on or process your transaction instructions
unless you have enough money in your account to cover both the transaction value and the transaction fee. The fees
which IMB will be entitled to are in published  transaction fee schedule.
Please note that IMB is entitled to change the fee structure with at least one month’s notice.

12. Transactions:

(1) You are responsible for providing IMB with correct and complete information and instructions when you transact.IMB does not verify the identity or bank account details of the person or entity you are paying. Nor do we compare the account number against the details of the person or entity you are paying. IMB will not be responsible to the person,or entity you are paying, for any loss or damage you may suffer as a result of your providing incorrect or incomplete information. IMB is not responsible if you do not complete an instruction or if you do not follow IMB’s instructions
when transacting.

(2) Certain transactions cannot be reversed or stopped once you send them to IMB.

(3) Transaction limits apply to transactions done on the service channels. IMB will not be able to carry out any instruction from you if you have exceeded your transaction limit or if a transaction will result in you exceeding your transaction limits. If you need to exceed any limits, you need to arrange with IMB beforehand.

(4) Certain information, including your account balance information, may be delayed.

(5) If you are unsure if a transaction has been sent or received or processed, you must contact IMB. Do not submit an instruction again as this can result in duplicating transactions for which you will be responsible for and for which IMB will not be liable.

13. Service Channels:

Service channels may not be available from time to time. During unavailability, you must make use of our other channels. IMB may stop providing the service channels or any other services provided on the service channels at any time. However, IMB will notify you of this within a reasonable time.

14. Third Parties:

(1) IMB is not responsible for links to third party sites, its contents or for the third party’s actions or omissions, or its goods or services. IMB does not endorse or recommend the third party or its products or services, nor does it have any control over third parties or their products or services.

(2) IMB is not responsible to you for any loss or damage you suffer, whether indirectly or directly, because of a third party or its products or services or your use of the products or services.

(3) IMB is not responsible for third party software. If at any time, your internet provider, cell phone provider or electricity supplier is unavailable, IMB will not be held liable for any damages or loss incurred as a result of the unavailability.

15. IMB Liability:

IMB will not be liable for any kind of loss or damage you may suffer, including indirect, direct, special, incidental or consequential damages, because of your use of, or inability to use, the services. IMB is also not liable for the following:

  • Any loss or damage, which you or any other party, may suffer due to unauthorised interception and/or
    monitoring.
  • Any loss or damage if you did not take reasonable steps to safeguard the account, the access codes and/or follow
    the steps recommended by IMB.
  • Late or delayed transactions
  • Loss or damages arising from unauthorised use of the service channel, including where a user exceed their
    authority
  • Any errors or delays in communication systems outside of its control.
  • Any loss, damage or theft resulting from the use of Automated Teller Machines (ATMS)
  • Any consequence resulting from any cause of retention or damage (including tearing, destruction or rendered
    unusable) of your card.

16. Intellectual Property Rights:

IMB owns the intellectual property rights in the service channel and its contents, including all registered and unregistered trademarks, copyright and patents. You may not copy, reproduce, display, reverse engineer or use IMB’s intellectual property in any manner whatsoever without our written consent. Nothing on the service channels must be
seen as granting any licence or right of use of any intellectual property unless permission was granted by IMB. You may
not establish any connection, including via a hyperlink, frame mega tag or similar reference, whether electronically or
otherwise to any part of the service channel or IMB’s website without written consent. IMB also owns the software
underlying the service channels.

17. Ending the agreement:

IMB may end the agreement at any time or end your right to use the service channels after giving you reasonable notice. IMB may also terminate the agreement if any of the following occur:

    • You commit fraud or IMB suspects you have done so
    • IMB believes that your behaviour was inappropriate or constitutes misconduct
    • If you breach this agreement
    • If you no longer have access to the equipment or services necessary to use the service channels.e.g. Your cell
      phone provider removes your registered cellphone number from its network or ends your contract
    • If your account is closed
    • If the law requires us to do so
    • If you don’t use the service channels for a period of three months or more.

• I accept if I do not transact on my transactional account for 45 consecutive days, my account will be regarded as semi-dormant. If I do not transact on my account for a further 45 consecutive days my account will be deemed dormant, irrespective of my balance

• IMB will try to contact me to notify me of the dormant status of my account

• If despite notification, I fail to transact on my account for a further 28 days and the balance in my account is equal to or below the minimum monthly service fee or fixed monthly fee, the outstanding fee will be recovered partially and the account closed

• If my account has a debit balance and there has been no credit turnover (no deposit) for 36 days and over my account will be considered dormant. I will be contacted and requested to activate the account. If no response is received further action will be taken. While my account is dormant IMB may continue to charge its monthly and
transactional fees where applicable

You may end this agreement by notifying us in writing or by phoning our call centre. If the agreement is ended, you will still be responsible to IMB for all the transactions, instructions and fees. Note: Ending this agreement does not mean scheduled top ups or recurring services will also be cancelled.

18. Waiver:

If, for any reason or purpose, IMB does not immediately enforce or implement any of the rights in terms of this agreement, it does not mean that IMB has abandoned or waived these rights. You must not assume that the
agreement has been changed or that it no longer applies to you. IMB can still insist on strict application of any or all of
its rights at a later stage.

19. General Terms and Conditions:

(1) IMB reserves the right to decline your application

(2) You may not vary any of the terms and conditions

(3) IMB has the right to request any further information or documents that it may legally require.

(4 ) You will pay for any service provider that you require to support your cellphone and computer.

(5) Nothing on the service is an offer, financial or professional advice to you

(6) If one or more of the clauses is invalid it will not render the rest of the agreement or rules invalid.

(7) Where dates and times need to be calculated, the international standard time (GMT) plus 2 (two) hours will be used.

20. Other laws:

(1) ECT Act: if you are a consumer, you have certain rights under South Africa’s e-commerce legislation Chapter VII of the Electronic and Transactions Act 25 of 2002. These rights are available at: www.acts.co.za

(2) Exemption 17 of FICA clients: if your account has been opened under Exemption 17 of Financial Intelligence Centre Act 38 of 2002, you are prohibited from transferring any funds outside the Republic of South Africa or utilising your card outside the common monetary area (Swaziland, Lesotho, Namibia, Mozambique etc)

This agreement will be governed by the laws of the Republic of South Africa without giving effect to conflict of law provisions.

Please note:

a) Your IMB account has been opened under Exemption 17 of FICA (Financial Intelligence Centre Act)

We are obliged to suspend the transactional capability of your account unless we are in the receipt of proof of residency should you exceed either of the following:

  • Balance of your account exceeds R25 000
  • A transaction above R 5000 in a 24 hour period.

In order to avoid suspension of your account, please forward proof of residential address to IMB at your earliest convenience in the form of one of the following:

  • Utility Bill (less than 3 months old)
  • Municipal rates and taxes invoice (less than 3 months old)
  • Telkom account (less than 3 months old)
  • Valid television licence
  • Multichoice account (less than 3 months old)
  • Another bank’s bank statement (less than 3 months old)
  • Recent short-term insurance document
  • Two recent retail accounts
  • Mortgage statement (less than 6 months old)
  • Recent SARS tax return/IRP 5 form
  • Recent motor vehicle licence
  • Recent correspondence from a body corporate or share block association
  • A payslip or salary advice from your employer (less than 3 months old)
  • An affidavit by another person residing with you attaching one of the above as proof of address for person giving
    affidavit