Deposit

We will accept for deposit to your account all cash, cheques and the other items payable to you.

• The proceeds of cheques and other similar items deposited will only be available as cash when paid. (This situation arises because when you deposit a cheque or other item the amount is provisionally credited to your account before we receive the actual payment).
• In the normal course, we are unable to process postdated cheques.

Deposit reversed

• We will debit your account with the amount of any cheque or other item deposited that is unpaid. Your account will be debited with bank charges associated with these unpaid items, details of such charges are available on request.
• We will debit your account with the amount of any cheque or other item deposited to which you are not entitled and may and pay the amount to the owner thereof, whether your account is in credit or debit, and we will advise you of our action taken.

Payments

• We will make payments from your account on your instructions if there are sufficient funds available.
• By arrangement, you may instruct us by means of computer or other electronic equipment to make payments from your account and we will debit your account with the amounts concerned.
• You authorise the Bank to debit your account/s with legitimate amounts and related charges for all such payments.

You agree to release and indemnify the Bank, its employees, officers or agents or its correspondent banks, from and against consequences of our or their failure to send or convey these funds and of any irregularities, delays, mistake, telegraphic error, omission or misinterpretation however caused, that may arise from and against any loss or damage which may be incurred throughout/their acting or delay in acting or omission to act on such instructions. You agree that instructionsprocessed will be at your own risk and cost in cipher or otherwise, it being understood that, at the Bank’s discretion, it may use the telephone, fax, other telegraphic service or any other recognized telephone or transmission system.You agree that in order to make some payments, the details of the payment (including any or all information relating to those involved in the payment) may be sent abroad, where it could be accessible by overseas regulators and authorities in connection with their legitimate duties. You understand that swift messages, internal transfers, telegraphictransfers, RTGS, and any other transfers are irreversible and acknowledge that the Bank account details provided are correct, complete and adequate and that the Bank its employees or officers or agents or correspondents will not be held liable for any losses or delays on the funds transmitted using these details.

Stop payments

• You may stop payment of a cheque you have issued before it is presentedfor payment unless the bank has made a commitment to pay it, forexample, certified it good for payment.
• We may acceptstop payments ofdebitorders butthe onus rests on you tocancel the underlying contract and you indemnify the Bank against anylegal action arising outofsuch cancellation.

Interest and charges

• We will charge you interest on any overdrawn balances and we shallinform you of the applicable rate of interest charged, upon request.
• We will charge you for various services provided, but details of suchcharges are available on request.
• We may vary charge and interest rates from time to time but will give youreasonable notice to such changes before they come into effect.

Statements

• We will provide you with regular statements of your account.
• You fail to advise us within 30 days of receipt of the statement, of any entry you regard as incorrect.
• If you fail to notify us timeously offorged or unauthorised entries on your account and this results in losses taking place, we will be entitled to refuseto refund the losses to you, provided that we have not been negligent orbreached on our duty of care.

Overdrafts

• If your account is overdrawn without suitable arrangement, we may transfer/setoff moneyto itfrom any other accounts held by you.
• We may demand payment of all amounts by you at anytime.
• A certificate signed by a manager of our bank containing details of an amount, including interest, owed by you will be sufficient proof thereofunless the contrary is proved.
• We shall regard the latest postal or residential address given by you to usas the address where notices may be given and documents in legalproceedings may be served.
• Ifnecessary, we maytake legalaction againstyou in an appropriate Courtof Law even if our claim exceeds its jurisdiction.
• You shall be responsible for payment of all our reasonable expenses in recovering any amounts you owe us, including legal fees on an attorneyand own client basis, collection fees and tracing fees or any other fees wemay incur as a resultofour efforts.

LetterofSet off

In consideration ofus giving you financial and/or banking accommodation and other facilities, you agree that in addition to any other general lien or similarright to which we as bankers may be entitled by law, we may at any time andwithout notice to you combine or consolidate all or any of your accountswith/and liability to us and set off or transfer any sum or sums standing to the credit of any one or more of such accounts in or towards satisfaction of any of your liabilities to us on any other account or in any other respect whether suchliabilities be actual or contingent, primary or collateral and several or joint.

Chequebook

You agree to look after and use any chequebook and any cheque form with theutmost care.
You further agree to ensure;

• that all uncompleted cheque forms are kept in safe custody atall times.
• that we are informed immediately upon discovery by you that anycheque book or nay chequeform has been stolen, lost or mislaid;
• that any person preparing a cheque is authorised to do so;
• that any cheque is prepared and signed in ink or other indelible writingmaterial.
• that the amount of the cheque is written in such a manner as to prevent any unathorised addition ofletters or figures;
• that any cheque and any alteration is signed by an authorised signatory;
• that no uncompleted cheque is given to any stranger orother person when you do not have reasonable grounds for believing that person to betrustworthy;
• Upon closure of any account you will return to us any remaininguncompleted cheque forms relating to that account and we will return toyou where possible the value of any Revenue Stamps reimbursement forthem which is obtained by us.
• You understand that the use and handling of your cheque book is subject to such arrangements as we may have with regards to the implementationof the Magnetic Ink Character Recognition system as coupled with theClearing House.

Closing of account

• We will close your account on receipt of a request in writing signed by youto do so, butthe closure will not be effective until;
  • have returned any unused chequesand bank cards;
  • allchequesorotheritems deposited havebeen paid; and
  • all yourelectronic transactions have been settled. Should any of yourelectronic transactions onlybe settled after closure of your account, you shall be liable forthe costs thereof.
• The Bank shall be entitled to close your account on reasonable prior notice and shall not be obliged to give reasons for such action.

Credit record

• We may make enquiries about your record with any credit referenceagency or any other relevant parties.
• We may provide credit reference agencies with regular or any otherrelevant parties updates regarding the conduct of your account includingany failure on your partto meetthese terms and conditions.
• We may provide other banks with bank reports relating to the conduct ofyour account on their request.

Confidentiality

We will treat all your personal information as private and confidential (evenwhen you are no longer a customer).
Nothing about your accounts nor your name and address will be disclosed to anyone, otherthan in fourexceptional circumstances permitted by law.

Theseare:

• where we are legally compelled to do so;
• where it is in the public interestto disclose;
• where our interests require disclosure;
• where disclosure is made atyour requestorwith yourwritten consent.

General

• We may check by reference to third parties the correctness of details given in the application form you have completed for opening the account.
• Bank accounts may notbe ceded to any other party.
• You must notify us immediately if you are placed under an administrationorder, sequestrated or liquidated or placed under any other form ofinsolvency or legal disability.
• You mustnotify us immediately of any change of address.
  • We are entitled from time to time to request updated confirmation documents relating to Anti Money Laundering, Anti-TerrorismFinancing and all the required account opening documents and youagree to provide us with currentones in the premises of clause 13.4.
  • We will not be held liable for losses arising from unauthorised alterations to chequeswhich are not readily detectable.
  • You consent to us carrying out identity and fraud prevention checksand sharing information relating to this application with a financialclearance bureau or law enforcement agency. Should your accountconduct at any time in the future reasonably cause us to suspect thatyour accounts are being used for improper purposes, you consent tous providing details ofthis suspicion to the aforementioned agencies.

You understand and agree that the record of this suspicion will then be available to other members of these agencies if they carry outcredit/other checks on your name.

Governing Law

The relationship between the Bank and you the Customer is governed by the laws of Swaziland