Common use of Auto Payment Clause in Contracts

Auto Payment. 28.1 In terms of the Auto Payment authorisation, you have the option of paying your Credit facility as indicated on your monthly account statement between the statement date and your payment due date as per the following options: • Minimum monthly payment amount due (as indicated on your statement); • Full amount due; • Specified Amount. Please note that the specified amount cannot be below the minimum monthly payment. Should your specified amount be less than the minimum monthly payment reflected on your statement, the minimum amount as reflected on your statement will be deducted; • Percentage of the Full amount due (between 5% and 100% of the straight balance); • Actual balance settlement (which allows you to settle your full monthly straight balance on the Auto Payment date as selected by you, within the current billing cycle, which will include all debits and credits after the statement date up until the selected Auto Payment date); • Full statement balance (which allows you to settle your full statement Credit facility balance is not affected by any debits and credits processed between the statement date and your selected Auto Payment date). 28.2 Your Auto Payment authorisation can be obtained electronically, telephonically or in writing signed by you. 28.3 We prefer the date of Auto Payment to be your salary date. 28.4 In terms of the Auto Payment, we will deduct monthly, by way of a payment instruction to your Bank, on the payment due date, from the account provided by you, the minimum/full/specified amount, in respect of the amounts due on your Credit facility. 28.5 The payment instruction to your Bank may be delivered after being authenticated by you where such authentication is required. 28.6 Should your payment due date be your salary date, you agree that the bank may move your payment due date as and when your salary date moves. 28.7 Should your Auto Payment be returned unpaid, we will make further attempts to debit your nominated account thereafter to ensure a successful payment, which costs you will be liable for. 28.8 In the event of your Auto Payment being returned unpaid and where your specified payment due date is not your salary date, the bank has the discretion to change your statement date thereby changing your payment due date (specified Auto Payment date) to coincide with your salary date or any other date we deem suitable to collect via the Auto Payment. You will be notified of these changes as per clause 13.2. 28.9 Should your Auto Payment be returned unpaid in the consecutive month, your Auto Payment will be suspended and we will proceed with our collections process. 28.10 You confirm that the banking details that appear on your Auto Payment authorisation are correct and reflect and account that is held in your name. 28.11 You will be liable for any claims, losses or damages of whatsoever nature arising out of debits made by the Bank to the account as listed in your auto payment authorisation because of insufficient funds, incorrect details or held in the name of any other person. 28.12 Missed Auto Payments will not result in the cancellation of the Auto Payment. 28.13 You authorise us to verify the banking details as provided by you for the purposes of effecting the Auto Payment. 28.14 You confirm that the account provided for this purpose is compliant with the Financial Intelligence Centre Act (“FICA”). 28.15 Should a required payment be received (direct deposit or electronic transfer) before the Auto Payment is scheduled to run, the Auto Payment will not be processed for that month. 28.16 If the bank account from which your Auto Payment is processed is closed by you at any time and your Auto Payment is returned unpaid, then we will be entitled to suspend and/or cancel your Credit facility unless alternate Auto Payment arrangements have been made for the payment of your Credit facility. 28.17 Once you have authorised the bank to process an Auto Payment, you may not cancel the Auto Payment. 28.18 The Bank may elect to assign or cede your Auto Payment authorisation to a third party.

Auto Payment. 28.1 27.1 In terms of the Auto Payment authorisation, you have the option of paying your Credit facility as indicated on your monthly account statement between the statement date and your payment due date as per the following options: • Minimum monthly payment amount due (as indicated on your statement); • Full amount due; • Specified Amount. Please note that the specified amount cannot be below the minimum monthly payment. Should your specified amount be less than the minimum monthly payment reflected on your statement, the minimum amount as reflected on your statement will be deducted; • Percentage of the Full amount due (between 5% and 100% of the straight balance); • Actual balance settlement (which allows you to settle your full monthly straight balance on the Auto Payment date as selected by you, within the current billing cycle, which will include all debits and credits after the statement date up until the selected Auto Payment date); • Full statement balance (which allows you to settle your full statement Credit facility balance is not affected by any debits and credits processed between the statement date and your selected Auto Payment date). 28.2 27.2 Your Auto Payment authorisation can be obtained electronically, telephonically or in writing signed by you. 28.3 27.3 We prefer the date of Auto Payment to be your salary date. 28.4 27.4 In terms of the Auto Payment, we will deduct deduct, monthly, by way of a payment instruction to your Bank, on the payment due date or your specified date, from the account provided by you, the minimum/full/specified amount, in respect of the amounts due on your Credit facility. 28.5 The payment instruction to your Bank may be delivered after being authenticated by you where such authentication is required. 28.6 Should your payment due date be your salary date, you agree that the bank may move your payment due date as and when your salary date moves. 28.7 27.5 Should your Auto Payment be returned unpaid, we will make further attempts to debit your nominated account thereafter to ensure a successful payment, which costs you will be liable for. 28.8 27.6 In the event of your Auto Payment being returned unpaid and where your specified payment due date is not your salary dateunpaid, the bank has the discretion to change your statement date thereby changing your payment due date (specified Auto Payment date) to coincide with your salary date or any other date we deem suitable to collect via the Auto Payment. You will be notified of these changes as per clause 13.2. 28.9 27.7 Should your Auto Payment be returned unpaid in the consecutive month, your Auto Payment will be suspended and we will proceed with our collections process. 28.10 27.8 You confirm that the banking details that appear on your Auto Payment authorisation are correct and reflect and account that is held in your namecorrect. 28.11 You will be liable for any claims, losses or damages of whatsoever nature arising out of debits made by the Bank to the account as listed in your auto payment authorisation because of insufficient funds, incorrect details or held in the name of any other person. 28.12 27.9 Missed Auto Payments will not result in the cancellation of the Auto Payment. 28.13 27.10 You authorise us to verify the banking details as provided by you for the purposes of effecting the Auto Payment. 28.14 27.11 You confirm that the account provided for this purpose is compliant with the Financial Intelligence Centre Act (“FICA”). 28.15 27.12 Should a required payment be received (direct deposit or electronic transfer) before the Auto Payment is scheduled to run, the Auto Payment will not be processed for that month. 28.16 27.13 If the bank account from which your Auto Payment is processed is closed by you at any time and your Auto Payment is returned unpaid, then we will be entitled to suspend and/or cancel your Credit facility unless alternate Auto Payment arrangements have been made for the payment of your Credit facility. 28.17 27.14 Once you have authorised the bank to process an Auto Payment, you may not cancel the Auto Payment. 28.18 The Bank may elect to assign or cede your Auto Payment authorisation to a third party.

Auto Payment. 28.1 13.3.1 In terms of the Auto Payment authorisation, you have the option of paying your Credit facility account as indicated on your monthly account statement between the statement date and your payment due date as per the following options: • Minimum monthly payment amount due (as indicated on your statement); • Full amount due; • Specified Amount. Please note that the specified amount • cannot be below the minimum monthly payment. Should your specified amount be less than the minimum monthly payment reflected on your statement, the minimum amount as reflected on your statement will be deducted; • Percentage of the Full amount due (between 5% and 100% of the straight balance); • Actual balance settlement (which allows you to settle your full monthly straight balance on the Auto Payment date as selected by you, within the current billing cycle, which will include all debits and credits after the statement date up until the selected Auto Payment date); • Full statement balance (which allows you to settle your full statement Credit facility balance is not affected by any debits and credits processed between the statement date and your selected Auto Payment date). 28.2 13.3.2 Your Auto Payment authorisation can be obtained electronically, telephonically or in writing signed by you. 28.3 13.3.3 We prefer the date of Auto Payment to be your salary date. 28.4 13.3.4 In terms of the Auto Payment, we will deduct deduct, monthly, by way of a payment instruction to your Bank, on the payment due date or your specified date, from the account provided by you, the minimum/full/specified amount, in respect of the amounts due on your Credit facilitycredit card account. 28.5 The payment instruction to your Bank may be delivered after being authenticated by you where such authentication is required. 28.6 Should your payment due date be your salary date, you agree that the bank may move your payment due date as and when your salary date moves. 28.7 13.3.5 Should your Auto Payment be returned unpaid, we will make further attempts to debit your nominated account thereafter to ensure a successful payment, which costs you will be liable for. 28.8 13.3.6 In the event of your Auto Payment being returned unpaid and where your specified payment due date is not your salary dateunpaid, the bank has the discretion to change your statement date thereby changing your payment due date (specified Auto Payment date) to coincide with your salary date or any other date we deem suitable to collect via the Auto Payment. You will be notified of these changes as per clause 13.215.2. 28.9 13.3.7 Should your Auto Payment be returned unpaid in the consecutive month, your Auto Payment will be suspended and we will proceed with our collections process. 28.10 13.3.8 You confirm that the banking details that appear on your Auto Payment authorisation are correct and reflect and account that is held in your namecorrect. 28.11 You will be liable for any claims, losses or damages of whatsoever nature arising out of debits made by the Bank to the account as listed in your auto payment authorisation because of insufficient funds, incorrect details or held in the name of any other person. 28.12 13.3.9 Missed Auto Payments will not result in the cancellation of the Auto Payment. 28.13 13.3.10 You authorise us to verify the banking details as provided by you for the purposes of effecting the Auto Payment. 28.14 13.3.11 You confirm that the account provided for this purpose is compliant with the Financial Intelligence Centre Act (“FICA”). 28.15 13.3.12 Should a required payment be received (direct deposit or electronic transfer) before the Auto Payment is scheduled to run, the Auto Payment will not be processed for that month. 28.16 13.3.13 If the bank account from which your Auto Payment is processed is closed by you at any time and your Auto Payment is returned unpaid, then we will be entitled to suspend and/or cancel your Credit credit card facility unless alternate Auto Payment arrangements have been made for the payment of your Credit credit card facility. 28.17 13.3.14 Once you have authorised the bank to process an Auto Payment, you may not cancel the Auto Payment. 28.18 The Bank may elect to assign or cede your Auto Payment authorisation to a third party.