The term “Site” in this document refers to both the Website and the Mobile Applications.  Please read these Terms carefully, because this document is a legal agreement. By accessing and using the Site you agree to these Terms. If you do not agree, please do not access or use the Site.

1. Introduction

1.1 The Standard Terms and conditions for Personal Account, Group Savings Account and Mobile Loans are incorporated into the terms below. The terms and conditions contained herein may be amended from time to time or as guided by the regulator and any amendment to these Terms and conditions shall be communicated to you.
1.2 By accepting these terms and conditions, the Customer agrees that their details should be uploaded on FINCA Mobile Banking App.
1.3 The Customer further agrees to utilize the App or the USSD platform for his/her own transactions which will include Electronic Funds transfers, Token Generation, Loan requests, Loan repayments, bill payments etc.
1.4 In this agreement “you” and “your” means any customer operating the account including (where appropriate) any person you authorize to give instructions on your account. “We”, “us” and “our” means Foundation for International Community Assistance Zambia Limited (hereinafter called FINCA).
1.5 The Customer hereby agrees to abide by the terms set out in this Agreement.

2. Personal Account

2.1 You shall be required to produce your original documentation for inspection and verification on opening of your account and at any other time that FINCA deems necessary.
2.2 The account shall be operated and maintained subject to applicable Bank of Zambia rules, regulations and guidelines as may be issued from time to time and as adopted by FINCA.
2.3 FINCA shall collect documented evidence to determine the FATCA classification of an individual account holder as either a U.S or a non-U. S person. Documented evidence will generally be collected when U.S indicia is associated with either an individual or entity account or whether a new or pre-existing account.
2.4 Contacting each other
2.4.1 We may contact you in person or by post, telephone, or by email or any other electronic communications or where suitable arrangements have been put in place, using the latest address or number you may have given us. You agree to tell us of any changes or additions to these details.
2.4.2 You can contact us by visiting any of our branches or through our Call Centre lines on +260966-200-580, +260971-245-429. We may record or monitor communications between us so that we can verify instructions and make sure that we are meeting our service standards.
2.4.3 If you want to complain about these terms and conditions or the service you have received, you may do so in person, in writing, by post, email or by telephone through our Call Centre. Details of our complaints handling procedure are displayed at any of our branches and through our Agents.
2.5 Giving us instructions
2.5.1 You can give us instructions in person, unless we advise that instructions may be given in a different way for a particular service or account.
2.5.2 Before receiving instructions in any other way other than in person, we will subject the instructions to the necessary regulatory requirements and agreed security procedures for authenticating such instructions.
2.5.3 We may refuse to act on any instructions if; A) The instruction is not clear or B) We believe that by carrying out such instructions, we might be breaking the law, regulation, code or other duty, which applies to us.
2.6 Credits and withdrawals from your account
2.6.1 Cash deposits can only be made at any FINCA branch and/or approved FINCA Express Agents.
2.6.2 If we receive instructions and credits for an account during the opening times, we will process them on that day or on the date specified in your instructions. Instructions received after the opening time for a non-working day will be processed on the next working day. Even though branches may be open on Saturday, these are considered non-working days and instructions received on Saturday will therefore be processed on the next working day. Branch working time may vary and are displayed in each branch.
2.7 Interest & commissions
2.7.1 We pay interest, or if applicable, we charge interest by crediting or debiting your account.
2.7.2 We reserve the right to vary the interest rate from time to time and will reasonably endeavor to give prior notice of the changes in the interest rates. If you do not receive such prior notice, FINCA will not be prevented from changing the interest rate.
2.7.3 We will deduct tax on interest before we pay it to you unless we can pay interest without deducting tax under current regulations and/or laws.
2.8 Charges and fees
2.8.1 You shall be entitled to obtain information regarding the prevailing tariff guide at your branch. This may change from time to time.
2.8.2 We reserve the right to charge account related fees as may be applicable and amended from time to time.
2.9 Account withdrawal
2.9.1 You shall not be entitled to overdraw on the account. In the event that the account does become overdrawn, a letter of demand may be sent to you demanding payments of the overdrawn amount. If you do not pay the amount so demanded, you will be in breach of agreement and legal action shall follow, the cost of which shall be debited to your account.
2.9.2 In the event that you have a credit facility with FINCA, we shall, without notification to you, be entitled to use any credit balance in your account that you may have with FINCA to set off the amount you owe to us.
2.10 Statements
2.10.1 We will give you a statement showing all amounts added or taken from your account since the previous statement. You must check your statement carefully and tell us as soon as possible if there is something, which appears to you to be wrong or not made in accordance with your instructions.
2.10.2 We will correct any entries we make by mistake to your account as soon as possible after you tell us about them, or we notice them.
2.11 Using information about you
2.11.1 We will store and process information (including personal and financial information) and information in accordance with relevant regulations which we;
A) Obtain from third parties such as joint account holders, credit reference agencies or other organizations
B) Learn from the way you use and manage your account(s) as well as learn from the transactions you make or from the payments, which are made to your account.
2.12 Disclosure of information about you
2.12.1 We may disclose information about you to any person in connection with an actual or proposed contract, which relates to this agreement. This includes disclosing information under the terms of such contracts and such a contract includes the agreement and /or transfer of all our rights and obligations under the agreement.
2.12.2 For our protection and our customers, we have to follow certain procedures when opening accounts. These may include the use of credit scoring, obtaining information from credit reference agencies and the parting of information about you for lending purposes to any company in the same group of companies as us.
2.12.3 We may disclose information about you to credit reference and fraud prevention agencies and other organizations, who may record, use and give out information to other lenders to help other users make assessments for credit, debt tracing and to prevent fraud and money laundering.
2.12.4 We shall not be held liable for any information submitted to a credit reference agency in compliance with applicable regulations.
2.12.5 FINCA shall treat all customers’ information as private and confidential not withstanding that the customer has ceased to be a FINCA Customer.
2.12.6 Other than as provided above, we will not disclose information to third parties unless. A) We are legally compelled, or it is in the public interest to do so. B) You ask us to do so or give us permission; or C) It is in our interest to do so.

3. Group Savings Account

3.1 By agreeing to these terms and conditions, Customers who are on-boarded onto the Group Savings platform agree to have their personal Savings account linked to their Group Savings Account for the purpose of performing group savings transactions.
3.2 Customers who participate on the group savings platform agree that FINCA Zambia will only provide a platform on which the group can conduct their group transactions, and FINCA Zambia is not liable for any disputes that may arise among the group members in their savings activities.
3.3 The Group savings account shall not be charged any monthly management fees.
3.4 The transactions between Group Account and individual group member’s Savings account will be free.
3.5 The Savings accounts shall accrue interest on the residual balance at an annual rate therein.
3.6 Customers who request for the opening of the group account will provide a Group savings constitution that will be used to create the parameters of the group account for the group.

4. Mobile Banking – Fees and Charges

4.1 The following services shall attract fees according to the FINCA Zambia current rates. Customer must note that these fees are subject to amendment at any time FINCA Zambia wishes to, and that the fees will be subjected to the rules and regulations of the Bank of Zambia. The customer will be notified of any such amendment through various notices including but not limited to; media notices, SMS, Emails or through the FINCA Zambia website. However, any failure by the bank to so advise the Customer shall not in any way prejudice the Bank’s right to recover any fees charged after such amendment.
4.1.1 Bank to Wallet
4.1.2 Bill Payments
4.1.3 Airtime purchases
4.1.4 Token generation (E-wallet)
4.1.5 Interbank transfers

4.2 The following services shall not attract any fees.
4.2.1 Internal Funds Transfer
4.2.2 Balance enquiries
4.2.3 Mini statement requests

5. Instant Mobile Loan

5.1 The Customer agrees that FINCA will automatically open a Click account for the customer upon the Customer’s request to access the Click mobile loan.
5.2 The Click account will be governed with terms and conditions as those stated above regarding personal account.
5.3 Mobile loans are subject to customer’s eligibility based on the FINCA credit scoring.
5.4 Mobile loans attract fees depending on the loan tenure selected by the customer.
5.5 The Customer will repay their loan through their account voluntarily. FINCA reserves the right to automatically deduct the owed amount from the customer’s account on or after repayment due date.
5.6 The customer understands that submission of a loan application does not guarantee receipt of a loan.
5.7 The Customer acknowledges that access to the loan facility will be subject to fulfilment of pre-conditions relating but not limited to submission of complete KYC, complete disclosure of the cost of credit and signing of loan contracts. The Customer understands that by selecting the Accept Ts & Cs for the loan application on the mobile banking platform, they consent to and accept the Terms and Conditions as outlined here.

6. Changing the terms of the agreement

6.1 We may change the terms of this agreement (including our charges) at any time by informing you about the changes by reasonable and practicable means. We will give you reasonable notice to any changes. We will use our reasonable endeavors, consistent with good banking practice to ensure that if the change is material the notice period, we will give you is sufficient to ensure that you have an opportunity to withdraw from the service before the changes take place. Unless we tell you otherwise, notice will be given in writing, or by email, SMS or by publication in the national press.

7. Closing your account

7.1 You can close your account by telling us in writing.
7.2 We can end our relationship with you by telling you in writing. We will give you at least 30 days’ notice unless you are in material breach of this agreement, in which case we may end our relationship and close your account without notice and with immediate effect. We can also give you a new account number and /or transfer your account to another branch if we close or combine branches. Any benefit or service we provide in relation to particular accounts will end as soon as your account is closed.

8. Indemnity

You agree to indemnify and hold us harmless from any loss, liability, claim, or demand, including reasonable attorney’s fees, made or incurred by any third party due to or arising (directly or indirectly) out of your access to or use of the Site or arising from your breach of this Agreement.

9. Termination

We reserve the right to remove or refuse to post or distribute User Submissions that we determine, in our sole discretion, violate these Terms of Use and to restrict, suspend, or terminate the participation of any user from the Site at any time, with or without prior notice, who we determine, in our sole discretion, has or is violating these Terms of Use.

We may terminate this agreement for any reason at any time. Otherwise applicable sections of this agreement shall survive such termination.

10. Miscellaneous

We may make changes to these Terms or modify any features of the Site at any time, in our sole discretion. The most current version of the Terms can be viewed by clicking on the “Privacy Policy” and “Terms of Use” link on the home page of the Site. By continuing to access and use the Site, you indicate that you accept any changes to the Terms.

These Terms of Use contain the entire agreement between you and us regarding the use of the Site. If any provision of these Terms of Use is held invalid, the remainder of the Terms of Use shall continue in full force and effect.

11. I have read and understood FINCA’s terms and conditions governing this account (s) and services provided on FINCA Mobile banking as availed to me and agree to abide by them and such other rules that may be in force from time to time. I further agree that by entering into this Agreement with FINCA, I certify that I do not support or conduct, directly or indirectly, violence or terrorist activities of any kind, and do not enter into this agreement with the intention to conceal or disguise the origins of criminally derived proceeds (“Money-Laundering”) or to use loan proceeds or other amounts received for criminal or illegal purposes. I understand that this account will be used for Bonafide transactions arising from the declared sources of funds. I confirm that the features, costs, interest, benefits, and the way the account operates have been explained to me/us. I agree to provide any documents required and request you to open the account as specified above. I agree to inform you of any changes in the information provided to FINCA or in related documents. I consent to FINCA making enquiries, obtaining from, or exchanging with third parties and credit reference agencies any and all information concerning the undersigned whether or not such information predates this consent or during and after the term of any loan or credit facility granted to the undersigned. FINCA can continue to disclose such to third parties or credit agencies even after my account is closed, credit facility has been settled, and this consent hereto shall be irrevocable. I agree to be liable for any overdrafts or debt due to FINCA and FINCA may at any time and without notice to me combine or consolidate all or any of my accounts with all liabilities to you and set off or transfer any sum standing to the credit of any more of such accounts or any credits or other assets belonging to me with you in or towards satisfaction of any of my liabilities to you or any other account or any other respect, whether liabilities be actual or contingent, primary or collateral, or joint. I confirm, consent, and authorize FINCA to link the mobile number provided in this application form to mobile banking services and to the Overdraft Facility.

12. Contact Us

If you have any questions about these Terms of Use, please contact us at:
FINCA Zambia
Head Quarters
Plot No.22768 Acacia Park
Corner of Thabo Mbeki & Great East Rd
P.O.Box 50061, RW
www.FINCA.co.zm
[email protected]