Withdrawals
via Instant Money, FNB eWallet, ABSA Cash Send and Nedbank Send-iMali &
MobiMoney are subject to a minimum withdrawal request of R70 per withdrawal.
Withdrawals
via Instant Money, FNB eWallet, ABSA Cash Send and Nedbank Send-iMali &
MobiMoney are subject to maximum daily and monthly withdrawal limits. A daily
pay-out limit of R3000 applies and a monthly pay-out limit of R25000 applies.
Multiple
withdrawal requests may be consolidated and paid in one lump sum, but subject
to the withdrawal limits noted above.
Withdrawals
will be paid out to the valid South African cell phone number linked to the
active Investmine account.
Changes
to cell phone numbers, referred to in point 4, prior to withdrawals will be
subject to verification checks.
Withdrawals
will be made to the account holder only and not to any third party in any
circumstance. The customer’s right to settlement or payment is not transferable
or negotiable.
Withdrawals
of cash can ONLY be made at the stipulated ATM’s and retailers providing the
Instant Money, FNB eWallet, ABSA Cash Send and Nedbank Send-iMali &
MobiMoney services.
Withdrawals
will be processed within 24 hours of request but are subject to banking hours.
Once
payment has been effected the voucher may only be reversed by Investmine
logging a request with the respective bank/ service provider. If the voucher
has not been redeemed and a reversal is possible, applicable fees per bank/
service provider may apply to process the reversal request.
10.
Nedbank Send-iMali & MobiMoney reserve the right to reverse any unclaimed
vouchers after 48 hours from the time the withdrawal was processed. The funds
will be credited back to the Investmine account within 24 hours of the
reversal.
Investmine
relies solely on the banking systems of Instant Money, FNB eWallet, ABSA Cash
Send and Nedbank Send-iMali & MobiMoney to effect withdrawals into
customer’s cell phone numbers. Therefore, Investmine accepts no liability
should the service be made unavailable and/or for withdrawals/SMS’s being
delayed for any reason whatsoever.
Once
the withdrawal is processed the client will receive confirmation in the
following ways depending on which withdrawal option was selected:
a.
With Instant Money, the client will receive a SMS with a voucher number
followed by a SMS with a pin. There is usually a 5-minute delay between SMS’s.
b.
With FNB eWallet, the client will receive a SMS from FNB and will be required
to dial the specified code to obtain the pin required to withdraw (please note
that a positive airtime balance is required to dial this code).
c.
With ABSA Cash Send you will receive a SMS with a 10-digit reference number,
you will need this along with Investmine access code of 123456 to withdraw.
ABSA bank cuts off from Monday-Saturday from 20:00 to 06:00 and Sunday at 17:00
to 06:00, no ABSA Cash Send requests will be processed during this time.
d.
With Nedbank Send-iMali & MobiMoney you will receive a SMS with a pin that
you will use along with your cell phone number to withdraw. Nedbank cuts off
from Monday – Friday from 18.30 to 06:00 and Saturday at 13.30 until Monday
morning at 06:00.
Should
funds be paid to your cell phone number in error, it is your responsibility to
immediately notify Investmine of the deposit. Any amount paid to you as a
result of the error and prior to the notification of Investmine, whether linked
to the error or not, shall be deemed to be invalid and will be repayable by you
to Investmine and you are deemed to agree and accordingly hereby authorize Investmine
to deduct from your account the sum incorrectly paid into your account.
Investmine
reserves the right to cancel or withdraw this pay-out method or change any of
its terms and conditions at any time and without cause or notice.
Investmine
reserves the right to request FICA documentation, for whatever reason, from any
customer prior to the withdrawal being paid out.
If
clients are unsure of how to utilise this withdrawal method, they can contact
the withdrawals department at withdrawals@Investmine.co.za or on 087
265 8172.
Investmine reserves
the right to reject any withdrawal request should irregular activities be
noted.
