TERMS AND CONDITIONS FOR INTERNATIONAL PAYMENTS BY FOREIGN NATIONALS (TERMS)
 

1. Introduction

1.1 These Terms form an agreement between you and us, so please make sure that you understand all of them. These Terms apply together with the Mobile App Terms, including the definitions set out therein.
1.2 In addition to these terms and the Mobile App Terms, please note that you are also bound by Standard Bank’s general terms and conditions, and any applicable transactional or product terms and conditions, which can be found at www.standardbank.co.za.
1.3 Clauses which are important, or which may limit our responsibility or involve some risk for you, will be in bold. You must pay special attention to these clauses.

 

2. Definitions

We have defined some words for consistency. These words begin with a capital letter. Singular words include the plural and plural words include the singular. 

Word Meaning
Account A transactional account which can be used to make an International Payment and includes accounts such as cheque/current accounts and savings accounts with transactional capabilities.
Applicable Laws All national, provincial, local and municipal laws, regulations, statutes, by-laws, consents and/or other laws of any relevant governmental authority and any other instrument having the force of law as may be issued and in force from time to time relating to or connected with the activities contemplated under these Terms.
BOP Balance of Payments.
BOP Category Codes Codes prescribed by the SARB to categorise the type or purpose of an International Payment.
BOP Reporting The process of reporting known as Balance of Payments Reporting, which is required by the SARB for International Payments.
Business Day  Any day other than a Saturday, Sunday or official public holiday in:
  • the Republic of South Africa;
  • the country in which the applicable foreign bank and beneficiary receiving the International Payment are based; and/or
  • any jurisdiction which is relevant to the International Payment, whether in terms of currency conversion or otherwise.
CMA The Common Monetary Area, which for the time being is the Republic of South Africa, the Republic of Namibia, the Kingdom of Lesotho and the Kingdom of eSwatini.
Correspondent Bank A financial institution that provides services on behalf of another financial institution.
Exchange Rate The rate of exchange that we determine, which is available at the time of making the International Payment.
FICA The Financial Intelligence Centre Act 38 of 2001.
Foreign National A natural person who is a permanent resident outside the CMA, who has taken up temporary residence in the Republic of South Africa in terms of a valid permit.
Intermediary Bank A bank that acts on behalf of the beneficiary’s bank.
International Payment A payment made to a beneficiary holding a foreign bank account. 
Mobile App Standard Bank’s mobile banking application.
Mobile App Terms The Mobile Application Banking Terms and Conditions that Standard Bank issues from time to time for the use of its mobile banking services and platform.
Personal Information Information about an identifiable natural person or, where applicable, juristic person, including information about: race; gender; sex; pregnancy; marital status; nationality; ethnic or social origin; colour; sexual orientation; age; physical or mental health; well-being; disability; religion; conscience; belief; culture; language; birth; education; medical, financial, criminal or employment history; any identifying number or symbol; an email, postal or physical address; a telephone number; a location; any online identifier; any other particular assignment to the person; biometric information; personal opinions, views or preferences of the person or the views or opinions of another individual about the person; correspondence sent by the person that is implicitly or explicitly of a private or confidential nature or further correspondence that would reveal the contents of the original correspondence; and the name of the person if it appears with other personal information relating to the person or if the disclosure of the name itself would reveal information about the person.
Processing Any operation or activity, automated or not, relating to personal information, including: alteration, blocking, collation, collection,consultation, degradation, destruction, dissemination by means of transmission, distribution or making available in any other form, erasure, linking, merging, organisation, receipt, recording, retrieval, storage, updating, modification or use. “Process” and “processed” will have a similar meaning.
Prohibited Activities Illegal or terrorist activities, money laundering or any activities which are subject to Sanctions or are not in compliance with Applicable Laws.
Regulations The Exchange Control Regulations of 1961 as promulgated by Government Notice R.1111 of 1961. 
Sanctioning Body The United Nations Security Council (UNSC), the Office of Foreign Assets Control of the Department of Treasury of the United States of America (OFAC), the European Union (EU), Her Majesty’s Treasury (HMT), the Ministry of Economy, Finance and Industry (France) (MINEFI) or any other sanctioning body we recognise from time to time.
Sanctioned Entity Any natural or juristic person or country listed on any Sanctions List or who is subject to any Sanctions.
  • In the case of a juristic person, this will include any person who (i) owns or controls it; or (ii) it owns or controls (and for these purposes, owns means holding any percentage of ownership or beneficial interest and controls means the ability, directly or indirectly and whether through the voting of shares, the appointment of directors or similar officers or through any other means, to control the business or policy of the juristic person);
  • In the case of any country, this will include its ministries, departments, agencies or any other governmental organisations.
Sanctions Any restrictions set by a Sanctioning Body, including but not limited to diplomatic, travel, trade or financial sanctions or embargoes.
Sanctions List Any list of Sanctioned Entities published by a Sanctioning Body, as updated from time to time.
SARB The South African Reserve Bank.
SARS The South African Revenue Service.
SWIFT The Society for Worldwide Interbank Financial Telecommunication.
Standard Bank, we, us/our  The Standard Bank of South Africa Limited (Registration number 1962/000738/06), a public company duly incorporated with limited liability according to the company laws of the Republic of South Africa.
Standard Bank Group  The Standard Bank Group Limited, its subsidiaries and their subsidiaries but excludes Liberty Holdings Limited and its subsidiaries.

 

3. International payments

3.1 Foreign Nationals who are older than 18, hold an Account with us and for whom we have all information and documents required by all Applicable Laws, can make International Payments.
3.2 You may not make International Payments on the Mobile App that require documents to be given to Standard Bank or the SARB. Only International Payments that do not require such documents may be made. 
3.3 You may not make an International Payment without giving us the requested information and adhering to the Regulations. 
3.4 You may not make an International Payment if you are not compliant with FICA.
3.5 International Payments to countries in the CMA will be made in Rand. If you want to pay someone in a CMA country, you must use the Domestic Payment section, not the International Payment section of the Mobile App
3.6 Please note the following when making an International Payment:
3.6.1 your normal Electronic Account Payment (EAP) limit will apply. This means that you will not be able to make an International Payment if you have exceeded your monthly EAP limit;
3.6.2 you may not make an International Payment with funds you brought into the country or which are ring-fenced. Only funds which you have received or earned in the Republic of South Africa can be used. You confirm by accepting these Terms and making International Payments, that all funds transferred have been received or earned in the Republic of South Africa.
3.7 The Exchange Rate applicable to an International Payment is determined by us and does not include our commission fee and the SWIFT fee, which will be shown separately.
3.8 Once you have selected the currency you wish to pay in, an indicative Exchange Rate will be displayed. The indicative Exchange Rate is based on the current Exchange Rate, which may change by the time you have entered all the information required. We will provide you with the final Exchange Rate before you confirm the International Payment.
3.9 You must ensure that you have enough funds in your Account to make the International Payment. Your Account will be debited with the payment amount, our commission fees and the SWIFT fee when the International Payment has been processed successfully. If you have accepted the quote (which will set out the Exchange Rate and our fees) and your Account is not debited because there are not enough funds in your Account, you will have to pay all costs for cancelling or processing the International Payment.
3.10 When you accept the Exchange Rate and these Terms and make the declaration applicable to the International Payment, the Exchange Rate will be booked and you will have to pay all amounts owed to us in this regard. 
3.11 Please note that you will not earn any interest on the amount debited from your Account from the date that it is debited to the date of payment to the beneficiary.
3.12 If you want to make an International Payment after hours and/or when the markets are closed, we will offer you the latest available Exchange Rate.
3.13 You accept that an International Payment takes a minimum of two Business Days to be transmitted.
3.14 This period may be extended and/or the International Payment may be cancelled due to circumstances beyond our control, including in terms of Applicable Laws or the laws in the jurisdiction of the beneficiary’s bank or any Correspondent Bank or Intermediary Bank.
3.15 If this happens we will contact you and you must provide the information required by the beneficiary’s bank, Intermediary Bank or Correspondent Bank. If you do not provide the information immediately, the International Payment may be cancelled or delayed.
3.16 If the International Payment is delayed by the beneficiary’s bank, a Correspondent Bank or Intermediary Bank, we cannot recall or reverse it.
3.17 If we are required to cancel an International Payment because of any Applicable Laws or the laws in the jurisdiction of the beneficiary’s bank, any Correspondent Bank or Intermediary Bank after your Account has been debited, we may refund you, but you will not receive the full value of the International Payment due to (i) our fee charges and/or (ii) exchange rate fluctuations. We will not be liable (responsible) for any loss you or any third party may suffer in this regard, and you indemnify us against any loss or damage which we may suffer as a result thereof.
3.18 An International Payment may be cancelled if you give us incorrect information about the beneficiary or the beneficiary’s bank. In this case, we will try to contact you to let you know that the International Payment cannot be processed. We may need further instructions from you and you may need to submit a new written instruction for the International Payment to be processed.

 

4. Fees

4.1 The fees that we will charge for International Payments can be found in our online pricing guide at www.standardbank.co.za.
4.2 The following fees will apply to the International Payment:
4.2.1 Our fees: we will charge you:
  • commission fees, which are based on a percentage of the Rand value of the International Payment at the time that it is made; and
  • a SWIFT fee for International Payments sent using the SWIFT network.
4.2.2 Beneficiary’s bank’s fees: The beneficiary’s bank will charge the beneficiary a fee to process the incoming payment. You do not have the option to pay for the Beneficiary’s bank’s fees.
4.2.3 Other foreign bank fees: Sometimes International Payments need to be routed through an Intermediary Bank or Correspondent Bank to reach your beneficiary’s bank. In such cases, the Intermediary Bank or Correspondent Bank will deduct their fees from the amount sent to the beneficiary. This means that the beneficiary will not receive the full amount you send them.
4.2.4 The fees charged by the beneficiary’’s bank, Correspondent Bank and Intermediary Bank are different from bank to bank and we don’t know what they will be.
4.3 You authorise us to debit your Account with the amounts of the International Payment and our fees.
4.4 Our fees will be displayed for you to accept before you proceed with the International Payment.
4.5 Please note that when making an International Payment using the Mobile App, you will not qualify for any special rates or existing allowances which would otherwise be available when making International Payments using other platforms (for example staff rates, private client rates and special pensioner rates).

 

5. Recall/Reversal of an International Payment

5.1 If you want to recall/reverse an International Payment made using the Mobile App due to fraud or in error, you can call 0860 123 006 (local calls) or +2710 249 0051 (international calls) on Business Days. 
5.2 You acknowledge, understand and agree that:
5.2.1 successful recall is not guaranteed under this arrangement;
5.2.2 Standard Bank will take reasonable action to recall the transaction specified above;
5.2.3 Standard Bank will not be liable for any and all errors or delays associated with a recall instruction; and
5.2.4 Standard Bank will process a recall request to the beneficiary’s bank consequent to a recall instruction, where after the beneficiary’s bank may or may not facilitate the recall.
5.3 If the beneficiary’s bank agrees to recall the International Payment and returns the funds to us, we will credit your Account with the amount received from the beneficiary’s bank, less any fees we and/or the beneficiary’s bank (as applicable) charge. Please note that due to exchange rate fluctuations, this amount may not be the same as the value of the International Payment.
5.4 If the beneficiary’s bank rejects our request to recall the International Payment, you may still have to pay fees (such as administration fees) charged by the beneficiary’s bank, Correspondent Bank and/or Intermediary Bank and we will debit these fees from your Account. In these cases, you will not receive any amounts from us for the International Payment and will need to deal directly with the beneficiary if you want to be refunded.
5.5 We are not responsible for any loss or damage you suffer because of your recall instruction. You waive (give up) any claim against us if this happens.
5.6 You agree to indemnify and hold Standard Bank harmless against any actions, claims, costs, losses, harm or demands of whatsoever nature that any third party (including, without limitation, the beneficiary or any third-party account holder) may bring against Standard Bank arising from or in connection with your recall instruction.

 

6. Exchange control regulations

6.1 In addition to your duty to comply with all Applicable Laws, you warrant (promise) that you will comply with the Regulations at all times.
6.2 We may ask you for more information or documents (if applicable) in connection with an International Payment as required by the Regulations or any other Applicable Laws.
6.3 No International Payment will be processed if you have not given us all the information and documents that apply to the payment. 
6.4 You must make an electronic exchange control declaration before the International Payment is completed. If you make a false declaration, you may have to pay a fine and/or face prosecution.
6.5 We are required to report International Payments to the SARB. You confirm that the information you have given us for both FICA and reporting to the SARB is up to date, true and correct. If required to do so, we may also report the International Payment to SARS. 
6.6 Only International Payments which fall under BOP Category Code 417 will be allowed. BOP Category Code 417 is considered to be International Payments for Foreign National remittances, excluding compensation.
6.7 You acknowledge that we may be required by various laws to give your personal information to the Financial Intelligence Centre, the SARB and/or SARS.

 

 7. Sanctions

7.1 You must not:
7.1.1 use the International Payment to finance any Sanctioned Entity;
7.1.2 make the proceeds of the International Payment available to any person who may use or intends to use the proceeds to finance a Sanctioned Entity’s activities;
7.1.3 act in a way that benefits a Sanctioned Entity;
7.1.4 be involved in any Prohibited Activities; or
7.1.5 use any product or service provided by the Standard Bank Group for any Prohibited Activities.
7.2 You warrant (promise) that you are not;
7.2.1 a Sanctioned Entity; or
7.2.2 being investigated for any activities relating to Sanctions.
7.3 You must let us know immediately in writing if you are being investigated for any activities relating to Sanctions.
7.4 You indemnify us against (you are responsible for) any fines, penalties, losses, damages, costs, actions, proceedings, claims or demands (Losses) which we may suffer because:
7.4.1 any funds are seized or withheld by any Sanctioning Body or any other third party (including by us); or
7.4.2 you breach this clause 7.
7.5 If we know or suspect that you are in breach of this clause 7 or you are about to become subject to Sanctions, we can immediately, in our sole discretion:
7.5.1 close, restrict activity or suspend access to International Payments and any other product or service we provide you; and/or
7.5.2 cancel these Terms and/or any other relationship which we have with you.
7.6 We are not liable (responsible) to you for any Losses you suffer if we cancel these Terms or any other relationship which we have with you.


8. No liability

8.1 We will not be liable (responsible) for any International Payment that is terminated, interrupted, intercepted, hacked or otherwise fraudulently seized, transferred or terminated due to any cause. All International Payments are made entirely at your own risk and discretion. 
8.2 We do not support International Payments to Crypto Currency Exchanges. We will not be responsible for any loss you may suffer in connection with these payments, including as a result of the payment failing, and you indemnify us against any loss or damage which we may suffer as a result thereof. 

 

9. Data protection

9.1 You hereby give consent for us to collect your Personal Information from you and, where lawful and reasonable, from public sources for credit, fraud prevention and compliance purposes, as well as the purposes set out below.
9.2 You hereby confirm that, if you give us Personal Information about or on behalf of other persons (including account signatories, shareholders, principal executive officers, trustees and beneficiaries), you are authorised to: (a) give us the Personal Information; (b) consent on their behalf to the processing of their Personal Information, and specifically any cross-border transfer of Personal Information to, from or outside the country where the products or services are provided; and (c) receive any privacy notices on their behalf.
9.3 You give consent for us to process your Personal Information:
9.3.1 for the purpose of providing products and services to you in terms of this agreement and providing any other products and services for which you may apply.
9.3.2 for the purpose of carrying out statistical and other analyses to identify potential markets and trends and to evaluate and improve our business (this includes improving existing products and services and developing new ones).
9.3.3 in countries outside the country where the products or services are provided. (These countries may not have the same data protection laws as the country where the products or services are provided. Where we can, we will ask the receiving party to agree to our privacy policies.)
9.3.4 by sharing your Personal Information with our third-party service providers, locally and outside the country where the products or services are provided. (We ask people who provide services to us to agree to our privacy policies if they need access to any Personal Information to provide their services.)
9.3.5 within the Group.
9.4 You will find our processing practices in the Group’s and our privacy statements. These statements are available on the Group’s websites or on request.
9.5 If you are unsure about your tax or legal position because your Personal Information is processed in countries other than where you live, you should get independent advice.

 

10. Customer contact information

10.1 If you have any queries or complaints about International Payments you can call us on Business Days on the following numbers:
10.1.1 if the International Payment has not been made: 0860 123 000 (local calls); +27 11 299 4701 (international calls);
10.1.2 if the International Payment has been made: 0860 123 006 (local calls) or +27 10 249 0051 (international calls).
10.2 You can also visit your nearest Standard Bank Bureau de Change or any branch with a forex teller.
10.3 We will try to resolve queries as quickly as possible, but there may be delays beyond our control, as we may be reliant on the beneficiary’s bank and other foreign banks.