Individual Customer Account Opening Form

These terms and conditions, together with any further instructions that may be prescribed by ZB BANK (‘the Bank’), from time to time shall constitute the Agreement between the customer and ZB Bank. The customer is deemed to have accepted the terms and conditions upon signing the form and the terms will be binding on the customer and ZB Bank.
1. DEFINITIONS: The following terms as stated in these terms and conditions shall have the following meanings:
1.1 Customer: The applicant of this account and services is hereunder referred as ‘Customer’.
1.2 Bank: The ‘Bank’ means ZB BANK LIMITED.
1.3 Service: Any service expressly or impliedly offered by the Bank is hereinafter referred as ‘Service’.
1.4 Card: The card means the ZB Bank Debit Card.
1.5 Cardholder: The account holder issued the card by the Bank.
1.6 Account: The account opened and maintained by the account holder with the Bank.
1.7 Accountholder: The person in whose name the account is opened and maintained and for whose use a card is issued by the Bank.
1.8 Card Number: The number embossed or printed on the card issued by the Bank.
1.9 Use of Card: The use of any card either by use of card number alone, or in conjunction with the PIN for any benefit, be it personal or financial.
1.10 PIN: The Personal Identification Number issued to the Cardholder or reset by the Cardholder which, in conjunction with the card, allows a transaction to be done successfully at any electronic device designed to accept cards.
1.11 Cash withdrawal Cash obtained by use of the card, the card number or in any manner authorised by the Cardholder whether by signing a voucher or not.
1.12 Agreement The agreement between the Bank and the Cardholder/ Account Holder, the terms of which are the “Terms and Conditions” as varied from time to time by the Bank. The paragraph titles or headings shall not be used for the purpose of interpretation and any words implying one gender or singular also include the other or plural respectively or vice versa.
2. APPLICATION OF THE CARD
2.1 All applications for cards are subject to the Bank’s processes and approval procedures.
2.2 The Bank reserves the right to refuse the cardholder access to the card in its sole and absolute discretion.
2.3 Additional cards linked to the cardholder’s account may be issued to other persons authorised by the Accountholder.
2.4 You will be charged service fees and other account charges at the rate fixed by ZB Bank from time to time.
3. USE OF THE CARD
3.1 The card may only be used:
3.1.1 By that Cardholder, it being understood that the physical PIN shall not be kept together with the card.
3.1.2 Subject to the terms and provisions of this Agreement and as amended from time to time. 3.1.3 Within the credit balance or agreed overdraft limit and any available credit facility on the Account; During the validity period embossed on the card;
3.2 ZB Bank shall not be liable for any loss of funds arising from any unauthorised transaction on Account holder’s account if made using Account holder’s pin, and if:
3.2.1 Account holder fails to memorize and delete the PIN upon receiving the SMS advising him/her of the PIN.
3.2.2 Account holder does not notify ZB Bank of the misuse, loss or theft of his/her cellphone or PIN at the earliest moment.
3.2.3 Account holder voluntarily discloses his/her PIN to anyone.
3.3 As soon as the Cardholder suspects that his/her card has been lost or stolen or his/her PIN is compromised, he/she must notify the Bank immediately by telephone, or visit your nearest ZB Bank Branch.
3.4 The Bank will block the card as soon as reasonably possible after such notification. The Bank is authorised to accept written instructions from Account holder or Cardholder to stop card transactions in the event of card loss.
4. LIABILITY
4.1 When transactions are made by a person other than the holder of the Account and/or the Cardholder, both shall be jointly and severally liable for the payment of all indebtedness arising from the use of the Card; but no partial or full release by the Bank of either of them shall reduce the liability of the other.
5. FUNDS IN THE ACCOUNT
5.1 The Bank shall not be obliged to act on or give effect to any payment or disbursement initiated through the use of the card unless there are sufficient funds in the Account at any time when the payment or disbursement is to be made or unless suitable arrangements have been agreed to by the Bank.
6. ACCOUNTABILITY
6.1 The Bank, its officers and servants, shall not be responsible or accountable to the Cardholder for any loss or damage, actual or contingent, arising from or of the use of the card facilities (it being recorded that any electronically initiated third party payments are not necessarily effected on the same day as the transaction date), malfunction, failure or unavailability of the card facilities, the loss or destruction of any data, the failure, interruption or distortion of communication links, any delay in acting on any request made or instruction given or in effecting any transaction initiated through the use of the card or any failure to do so (whether or not such delay or failure is notified to the Cardholder), the reliance by any person on any incorrect, incomplete or inaccurate information or data obtained through the use of the card, any Industrial action, act of God or other cause or circumstances not reasonably within the Bank’s control provided that the provisions of this paragraph shall apply in respect of any loss or damage proved to have been caused by the fraudulent act of any office or servants of the Bank.
7. CUSTOMER INFORMATION
7.1 You agree that any information provided about you as a consequence of this and any other application and agreement which you have made to or with this Bank may be shared within the Bank’s Customer Information System. This information may be used to identify other products and services, which may be relevant to you. No information will be disclosed outside the Bank unless you are in default under the agreement in which case the Bank may disclose this fact to licensed credit reference agencies.
7.2 You agree always to keep your contact details up to date and provide us:
(a) Your current residential address.
(b) A functioning telephone number or mobile number at which we can reach you.
(c) A functioning email address.
7.3 You agree that we may use any of the contact details that you have last provided to us for all legal purposes.
7.4 You agree that if you do not keep your contact details accurate and up to date and ensure any cell phone number or email address that you have provided to us is functional, you risk not receiving important communication from us that may affect your legal position.
8. DISCLOSURE
8.1 The applicant agrees and authorises ZB Bank to
(a) Disclose to any approved credit reference bureau financial information relating to his / her account.
(b) Make enquiries from any bank, financial institution or approved credit reference bureau in Zimbabwe to confirm information supplied.
(c) Seek information from any, bank, and financial institution or approved credit reference bureau when assessing the application to open an account.
9. ACCOUNT STATUS
9.1 Unless the Bank has granted you a credit facility on your account, you agree to maintain a credit balance at all times, and a debit balance either due to the Bank’s charges or debits passed on your account which is insufficiently funded, may affect your credit profile.
9.2 Unless an agreement relating to a particular product or service stipulates and specifies otherwise, you can close your account at any time provided you first settle any debit balance owing with the Bank. The Bank may set-off a credit balance in any of your Accounts against amounts that are due and payable from you to the Bank.
9.3 If you do not use your Account for six consecutive months, it will become ‘dormant’. You are unable to use the Account or access your credit in your account when it is in dormant status until you have contacted the Bank and claimed the dormant balance. The Bank may ask you for information and documents to support your claim.
10. CHARGES
10.1 Charges to the Account holder will be levied by the Bank irrespective of the balance on the Account or any transactions on the Account from the use of the Card. Charges levied by the bank are subject to change from time to time and will be advised to the customer.
11. DISCLAIMER CLAUSE
11.1 Any relaxation, delay or indulgence on the part of the Bank in exercising any of its rights in this Agreement shall not be taken as a waiver of such rights.
11.2 ZB Bank disclaims liability for any funds deposited by the account holder which are subsequently found to be derived from illegal sources or activities.
12. VARIATION OF THIS AGREEMENT
12.1 The Bank may vary this Agreement at any time or times whether or not a similar variation is made to the agreement(s) with any other Account Holder(s).
12.2 Notification of any such variation shall be given to the Account Holder by the Bank either in writing or by publication thereof by such means as the Bank may select and a variation so notified shall be binding on the Account Holder.
13. CUSTOMER ACCOUNT OPENING DECLARATION
13.1 I agree that I have read, understood and accepted the Bank’s prevailing Terms and Conditions, Electronic Channels Terms and Conditions; Cards Terms and Conditions and I agree to be bound by them.
13.2 I further agree to be bound by any additional Terms and Conditions governing any facilities, products and/or services offered by the Bank as I may apply and/or utilise from time to time.
14. E-WALLET CONDITIONS OF SERVICE
14.1 The minimum and maximum amounts will be reviewed from time to time.
14.2 ZB will not be liable for any loss of funds arising from any unauthorised transaction on your account using your pin and if you:
14.2.1 You fail to memorize and delete the pin upon receiving the SMS advising you of the pin.
14.2.2 You do not notify ZB of the misuse loss or theft of your cellphone or at the earliest moment.
14.2.3 You voluntarily disclose your PIN to anyone.