Notice of Amendment to the “Card Statement Instalment Program (“Statement Instalment Program”) Terms and Conditions”, effective from 8 Jun 2024
At ZA Bank, we continue to listen to our users’ feedback and improve our banking services. Therefore, we are updating the Card Statement Instalment Program (“Statement Instalment Program”) Terms and Conditions (“Revised Terms”). Understand this may sound boring but to better protect your interests, please bear with us and spare several minutes to read this through carefully.
We have outlined the major changes to the Revised Terms in the table below for your information (“Amendments”).
Summary of Amendments to the Terms and Conditions
|
Section |
Purpose of the changes and what they mean for you |
Clause |
|
3. Disbursement of Statement Instalment Program proceeds |
Specified that proceeds will be disbursed to designated beneficiary banks and/or financial institutions through FPS, cashier’s order or any other means designated by us from time to time, or to your designated account. |
3.4 |
|
5. Repayment Arrangements |
Supplemented details of the repayment arrangements of Statement Instalment Program: 1. Your obligations to repay outstanding amount as we prescribed from time to time; 2. Your authorization to debit repayment from your designated account or other accounts as specified; 3. Your options (at our discretion) to setup an eDDA which authorizes us to automatically debit your account for repayment; 4. Your responsibilities to maintain sufficient funds in your account for repayment |
5.1 5.2 5.3 5.4 |
|
13. Variation of terms to Statement Instalment Programs |
Updated the prior notice period of a change to any terms affecting any fees or charges, or your liabilities or obligations from 30 days to 60 days |
13.2 |
You can download a PDF version of the Revised Terms via this link.
You can also find the Revised Terms in the ZA Bank App (tap on your profile picture on homepage, select “About ZA”) or our website under the “Terms and Conditions” section.
Please note that the Amendments shall be binding on you if you do not terminate the above mentioned products or services before 8 Jun 2024. If you decline to accept the Amendments, you have the right to terminate the products or services in accordance with the relevant provisions under the Terms and Conditions before the above mentioned date.
Please feel free to get in touch with us through the ZA Bank App if you need any assistance.
8 April 2024