ISSUE OF THE CARD
The Diamond Cash Card ("the card") is issued by Mercantile Bank Limited, Registration No. 1965/006706/06 ("the Bank") in terms of an agreement with Symelation (Pty) Ltd, Registration No. 2005/02534/07 trading as Diamond Cash Card ("Diamond Cash Card") to the authorised cardholder ("you") being a Diamond Cash Card client.
This document constitutes the agreement stating the terms and
conditions under which a Prepaid MasterCard Diamond Cash
Card is issued. By accepting, using or funding the Diamond Cash
Card, you agree to be bound by the terms and conditions of this
This card is owned by Diamond Cash Card and will remain the property of Diamond Cash Card at all times and must be returned to Diamond Cash Card on request. You agree to sign the back of the card immediately upon receipt with a ballpoint pen.
USE OF THE CARD
The card is not a credit card. The card provides access to a special Bank account allowing you to draw funds received from your employer in such account. The card is not directly linked to any other account or credit card account. No over the counter deposits are allowed on the card.
You will choose a personal identification number (PIN) to prevent
unauthorised use of the card. You are the only person who may
use the card. You may not allow any other person to use the card
or to have access to your PIN. The use of the card by a third party
is a criminal offence and will be prosecuted accordingly.
- Not to disclose the PIN to anyone or to record it on the card
or otherwise make it available to anyone else,
- To promptly notify Diamond Cash Card of any loss or theft of the card
or the PIN by phoning 0861 113 673. Delay in notifying
Diamond Cash Card of the loss or theft will be deemed as negligence
on your part. This service is available 24 hours.
- That if your card is lost or stolen and your card is used, you
will be responsible for all amounts debited to your account
through the use of the card.
- Not to make purchases, withdraw amounts and otherwise
use the card for transactions that will exceed your available
- That the use of the card is at your own risk and Diamond Cash Card or
the Bank is not responsible for any loss or theft resulting from
the use of the card,
- To comply with the exchange control regulations when
using the card outside of the common monetary area,
- That you will be liable for payments made by the Bank in
respect of the use of the card,
- Not to use the card for any unlawful purpose, including but
not limited to, the purchase of goods or services prohibited
The card enables you to purchase goods and to procure Cash
Advances by electronic means only.
You must at all times comply with all the relevant legislation
including but not limited to legislation to combat money
laundering. In this regard you acknowledge that Diamond Cash Card and
the Bank have certain rights and obligations arising from such
DEDUCTION OF FEES
You hereby authorise and agree that Diamond Cash Card may instruct
the Bank to deduct on their behalf from the card,
without any notice,
all standard service fees (where applicable) to you from time to
time and all applicable government levies in respect of the card.
You also agree that Diamond Cash Card may instruct the Bank to deduct
on their behalf fees for services you may have requested that are
not included in these terms and conditions.
Diamond Cash Card or the Bank will not be liable for dishonouring any
transaction presented for payment because of insufficient funds
being in the card as a result of deducting fees. However,
Diamond Cash Card reserve the right to instruct the Bank to collect fees at
a later date, without notice, if fees could not be deducted at the
due date because of insufficient funds.
No credit interest will be paid on the credit balance of the card.
Should your account, for any reason, have a debit balance,
interest at the maximum rate as prescribe by the Usury Act or a
rate determined by Diamond Cash Card or the Bank from time to time, will
be debited to your card.
Such interest will accrue on a daily basis from the date of the
debit balance upon and including the date on which full
repayment is credited on the card. Nothing herein shall be
construed as entitling you to be overdrawn on your card.
When you use or obtain funds (or make a purchase) in a currency
other than the currency that your Card was issued, the amount
deducted from your funds will be converted by MasterCard into
an amount in the currency of your Card. MasterCard
International will establish a currency conversion rate for this
When you believe there are errors regarding transactions, you
must notify Diamond Cash Card immediately by calling 0861 113 673.
Diamond Cash Card will require you to confirm this error in writing and such
document can be faxed to 011 319 2760 within ten days of your
verbal notification. Should Diamond Cash Card not receive your written
notification within ten days your claim will be rejected.
TERMINATION OF CARD FACILITY
You may terminate your right to use the card on written notice to
Diamond Cash Card. The said notice must be accompanied by the card,
which must be cut through the magnetic stripe and in half to
prevent further use. Diamond Cash Card or the Bank may at any time in
their sole and absolute discretion close or terminate your card. If
Diamond Cash Card or the Bank closes your card it must be returned to
Diamond Cash Card immediately.
Diamond Cash Card and/or the Bank shall not be liable for any loss or
damage that you may suffer as a result of our provision of
incorrect information to any person or as a result of any terminal
failure or malfunction beyond Diamond Cash Card and/or the Bank's
Diamond Cash Card and/or the Bank shall not be liable for any loss or
damage of whatsoever nature and howsoever arising from all
Diamond Cash Card and/or the Bank shall not be liable to you if any
merchant does not accept the card or Diamond Cash Card and/or the
Bank refuse to authorise any transaction on the card.
You must resolve any dispute you have with any merchant
directly with the merchant. Such dispute will not affect the rights
of Diamond Cash Card and/or the Bank to receive payment from you.
If there is a difference between your records and the records of
Diamond Cash Card and/or the Bank, the records of Diamond Cash Card and/or
the Bank will be binding.
Diamond Cash Card and/or the Bank may amend this agreement at any
time. Publication of such amendments by such means as they
may select will constitute valid notice of the amendment to you.
Any such amendments will not constitute a novation of this
agreement. You may not amend or vary these terms and
conditions at all.
You agree that Diamond Cash Card and/or the Bank may proceed
against you in a magistrate's court having territorial jurisdiction
even if the amount of your claim exceeds the value jurisdiction of
In the event that legal action is taken against you to recover
monies due in terms of this agreement, you will be liable for all
costs incurred (including legal fees and collection commission) on
the scale as between attorney and own client.
The agreement will be governed by and construed in
accordance with the laws of the Republic of South Africa.
You herewith instruct and authorise Diamond Cash Card and the Bank to
issue you with a Diamond Cash Card and you herewith indemnify
Diamond Cash Card and/or the Bank against any claims, damages and
losses arising from this authority and instruction.