Terms & Conditions
Last updated: August 2026
1. Acceptance of Terms
By downloading, installing, or using the WealthPayBank mobile application or any of our services, you agree to be bound by these Terms and Conditions. If you do not agree, please do not use our services.
2. Eligibility
You must be at least 18 years old and a South African citizen or permanent resident to open a WealthPayBank account. You must provide valid identification documents as required by the Financial Intelligence Centre Act (FICA).
3. Account Terms
- One account per person
- Account is personal and non-transferable
- You are responsible for maintaining the security of your login credentials
- We reserve the right to close accounts that violate these terms
- Dormant accounts may be subject to regulatory requirements
4. Fees and Charges
Our fee schedule is available in the app and on our website. We reserve the right to modify fees with 30 days' written notice. All fees are inclusive of VAT where applicable. See our Bank Account page for the current fee schedule.
5. Transactions
- Instant payments via PayShap are processed in real-time
- Standard payments may take up to 2 business days
- Daily transaction limits apply as specified in the app
- You are responsible for ensuring sufficient funds for all transactions
- Transactions cannot be reversed once processed, except in cases of fraud
6. Savings Products
Interest rates on MilestoneSave and Fixed Deposits are subject to change. Interest is calculated daily and credited monthly for MilestoneSave, or at maturity for Fixed Deposits. Early withdrawal from Fixed Deposits may result in reduced interest.
7. Credit Products
All lending is subject to affordability assessments as required by the National Credit Act. Approval is not guaranteed. GrantAdvance is subject to SASSA grant cycle dates. Borrowers are responsible for timely repayment.
8. Liability
WealthPayBank is not liable for losses resulting from unauthorised access to your account due to your negligence, system failures beyond our reasonable control, or third-party service disruptions. Our liability is limited as permitted by South African law.
9. Governing Law
These Terms are governed by the laws of the Republic of South Africa. Any disputes shall be resolved in the courts of South Africa.
10. Contact
For questions about these Terms, contact us at:
Email: legal@wealthpaybank.co.za
Phone: 0800 WEALTH (0800 932 584)