The Code of Banking Practice (V5 of March 2018) 1. TABLE OF CONTENTS 1. TABLE OF CONTENTS ............................................................................................................. 1 2. DOCUMENT CHANGE CONTROL ............................................................................................ 4 3. PREAMBLE ............................................................................................................................ 5 4. OBJECTIVES........................................................................................................................... 5 5. CUSTOMER ENTITLEMENTS AND RESPONSIBILITIES IN TERMS OF THE CODE .......................... 6 5.1 YOUR ENTITLEMENTS ........................................................................................................................................................ 6 5.2 YOUR RESPONSIBILITIES .................................................................................................................................................. 7 6. OUR KEY COMMITMENTS ..................................................................................................... 8 7. ACCESS TO BANKING SERVICES ............................................................................................. 9 8. PRINCIPLES OF CONDUCT ..................................................................................................... 10 8.1 CONFIDENTIALITY AND PRIVACY ............................................................................................................................... 10 8.2 EQUAL TREATMENT ......................................................................................................................................................... 11 8.3 MARKETING, ADVERTISING, PROMOTION, LOYALTY AND REWARD PROGRAMMES .............................. 11 8.3.1 MARKETING, ADVERTISING, PROMOTIONS, LOYALTY AND REWARD PROGRAMMES ....................................... 11 8.3.2 PROMOTIONS .......................................................................................................................................................................................... 12 8.3.3 LOYALTY AND REWARD PROGRAMMES............................................................................................................................ 12 8.4 CREDIT INSURANCE .......................................................................................................................................................... 13 8.5 DISCLOSURE ....................................................................................................................................................................... 13 8.5.1 TERMS AND CONDITIONS ......................................................................................................................................................... 13 8.5.2 GENERAL BANKING PRODUCTS AND SERVICES ............................................................................................................ 13 8.6 CHARGES AND FEES .......................................................................................................................................................... 14 8.7 INTEREST RATES ............................................................................................................................................................... 15 8.8 COPIES OF DOCUMENTS ........................................................................................................................................................ 15 9. ACCOUNTS ........................................................................................................................... 15 9.1 OPENING A NEW ACCOUNT ............................................................................................................................................ 15 9.2 SWITCHING A TRANSACTION ACCOUNT TO A NEW BANK ................................................................................. 16 9.2.1 YOUR ROLE IN RESPECT OF YOUR NEW BANK .............................................................................................................. 16 9.2.2 YOUR ROLE IN RESPECT OF YOUR OLD BANK ................................................................................................................ 16 9.2.3 THE ROLE OF THE NEW BANK ............................................................................................................................................... 17 9.2.4 THE ROLE OF THE OLD BANK ................................................................................................................................................. 17 9.3 CLOSING AN ACCOUNT ..................................................................................................................................................... 17 9.4 STATEMENT OF ACCOUNT ............................................................................................................................................. 18 9.5 SET-OFF ................................................................................................................................................................................. 19 9.6 CARDS AND PINs ................................................................................................................................................................ 19 9.7 PROTECTING YOUR ACCOUNT ...................................................................................................................................... 20 9.8 RESPONSIBILITIES AND LOSSES .................................................................................................................................. 21 10. CREDIT ................................................................................................................................. 22 10.1 PROVISION OF CREDIT .................................................................................................................................................... 22 10.2 MORTGAGE LOAN .............................................................................................................................................................. 23 10.3 VEHICLE FINANCE ............................................................................................................................................................. 23 10.4 SURETYSHIPS ...................................................................................................................................................................... 24 10.5 FINANCIAL DIFFICULTIES ............................................................................................................................................... 25 10.6 DEBT ENFORCEMENT AND RECOVERY ...................................................................................................................... 25 11. PAYMENT SERVICES ............................................................................................................. 26 11.1 CHEQUE ACCOUNTS .......................................................................................................................................................... 26 11.2 FOREIGN EXCHANGE SERVICES AND REMITTANCES ............................................................................................ 27 11.3 INTERNET, TELEPHONE AND CELL PHONE BANKING .......................................................................................... 27 11.4 DEBIT ORDERS ................................................................................................................................................................... 29 Group Compliance Division Page 2 of 38 11.4.1 USE OF DEBIT ORDERS ................................................................................................. Error! Bookmark not defined. 11.4.2 TYPE OF DEBIT ORDERS.................................................................................................................................................................. 29 11.4.3 STOPPING A DEBIT ORDER ............................................................................................................................................................ 29 11.4.4 DISPUTES ABOUT DEBIT ORDERS .............................................................................................................................................. 29 12. DISPUTE RESOLUTION .......................................................................................................... 30 12.1 INTERNAL DISPUTE RESOLUTION .............................................................................................................................. 30 13. REVIEW OF THE CODE .......................................................................................................... 31 14. USEFUL DEFINITIONS ........................................................................................................... 32 15. STANDARDISED TERMINOLOGY ........................................................................................... 37 Group Compliance Division Page 3 of 38 2. DOCUMENT CHANGE CONTROL Entity Sasfin Bank Division Name Group Compliance Division Original Creation Date Version 1 of October 2004 Last updated Version 3 of July 2011 This Version Version 5 of March 2018 Distribution (website http://sasfinweb/NewPoliciesandProcedure/default.aspx address) Latest version approved by Group Risk and Capital Version