Terms and Conditions

You must read and accept the Terms below before using the Moneyclub Application or any Products and Services provided by Floatpays (Pty) Limited, an authorised Financial Services Provider with license number FSP 52120 (hereinafter referred to as “us”, “our”or “we" or “Floatpays”). By using our Products and Services or signing the Application Form (whether electronically or physically) and Fees Schedule, you agree to be bound to the Terms set out here in for the duration of the Agreement.

These Terms contain the legal provisions applicable to the Products and Services provided by us and manage our relationship and your responsibilities and contact with us.

The Terms must be read in conjunction with the remainder of your Agreement. Your Agreement consists of these Terms, the Application Form and Fees Schedule, and any other document attached to the Agreement from time to time. A copy of the latest Terms is available on the Moneyclub Application .

If you do not understand any part of these Terms, you must request that it be explained to you before accepting and concluding the Agreement, by contacting our Help Desk.

SECTION A: GENERAL TERMS

1. INTERPRETATION

1.1. You appoint us with effect from the Effective Date to provide you with the Products and Services you selected and for which you have been approved, subject to the terms of the Agreement.

1.2. If there is a conflict relating to any amount in the Agreement described in numbers and words, the words will prevail. All Fees in the Agreement exclude VAT; where the intention is that an amount includes VAT, the words “including VAT” or “including value-added tax” will be specifically recorded. Where any number of days is prescribed, those days shall be calculated by excluding the first Business Day and including the last Business Day.

1.3. No provision in the Agreement will be interpreted or construed to exclude, waive, or deprive you of your rights in terms of Law, other than as permitted.

1.4. Any terms printed in bold place a strict obligation on you and must be carefully read and understood by you. Words that are defined will bear the defined meaning, and any other grammatical form of that word will have a corresponding meaning.

1.5. Words in lowercase bear their plain English meaning. If one or more of the terms of the Agreement is invalid, it will not mean that the rest of the Agreement is invalid. The rest of the Agreement will still legally apply to you and us.

1.6. The rule of construction that a contract will be interpreted against the Party responsible for the drafting or preparing of the contract will not apply.Any reference to a Party will, if such Party is liquidated or sequestrated, also be applicable and binding upon that Party's liquidator or trustee, as the case may be.

1.7. The words "include", "including", and "in particular" will be interpreted as being by way of example or emphasis only and will not be interpreted or take effect as limiting the generality of any prior words.

1.8. The words "other" and "otherwise" will not be interpreted as being limited to the nature or kind of any prior words where a wider construction is possible.

1.9. All definitions are set out in the definition section that can be found at the end of this document. If any of these Terms are inconsistent with the Product and Services Terms, the Application Form and Fees Schedule, or any other document attached to these Terms, then the Agreement will be read in the following order (“order of precedence”):

1.9.1. document attached to the Terms;

1.9.2. Application Form and Fee Schedule;

1.9.3. Product and Services Terms section B;

1.9.4. and General Terms section A.

2. TERM AND TERMINATION

2.1. By registering in the Moneyclub Application and using any of our Products or Services, you agree to be bound by these Terms for as long as you continue to use the Product or Service, or until you or Floatpays chooses to terminate the Agreement.

2.2. You may cancel your access to any Product or Service at any time by providing us with 30 calendar days’ notice through the app or by contacting our Help Desk.

2.3. Floatpays may suspend or terminate your access to a Product or Service if:

2.3.1. You fail to complete required onboarding checks, including providing accurate FICA documentation as required by law;

2.3.2. You are found to have provided false, incomplete, or misleading information;

2.4. We are no longer authorised to offer a Product due to changes in law or provider relationships.

2.5. If your access is terminated:

2.5.1. You will no longer be able to use the affected Product or Service;

2.5.2. Any funds owed to you will be paid out in accordance with our standard process, less any applicable fees;

2.5.3. You will remain responsible for any amounts owed to Floatpays up to the date of termination.

2.5.4. Your use of the app and your obligations under these Terms will end once all balances are settled, and your account is closed. Any rights and responsibilities accrued before the termination date will continue to apply.

2.5.5. If our Third-Party Service Provider terminates our authority to provide a Product and Service, then your use of the Product and Service and associated Terms will automatically terminate without any penalty being payable. We will provide you with written notice (including email) of such termination.

3. SUMMARY TERMINATION

3.1. Notwithstanding the provisions above, we may immediately terminate the Agreement or part thereof on written notice (including email) if:

3.1.1. you compromise or defer payment of any debt owed to your creditors; dispose of, encumber, or hypothecate all or a substantial portion of your assets;

3.1.2. you allow a judgment against you to remain unsatisfied for 30 (thirty)days without taking steps to rescind or appeal the judgment;

3.1.3. you have adverse findings on credit and intelligence bureaus;

3.1.4. you engage in fraud, money laundering, terrorist financing, or any other unlawful activities;

3.1.5. We are instructed by a regulatory authority, court of law or by our banking partner.

4. CHANGES TO THE TERMS

4.1. The latest version of the Terms will be available on the Moneyclub Application and will replace all previous agreements you have entered into with us regarding the Products and Services.

4.2. You must access the Moneyclub Application to view these Terms and any amendments made thereto.

4.3. The Agreement may need to be changed from time to time. When the terms of the Agreement are changed, we will communicate the changes and the effective date of the changes.

4.4. We reserve the right to make any such changes effective immediately, if necessary to maintain the integrity and security of our Products and Services, and to comply with the Rules.

4.5. We will advise you of any Material Changes to the Agreement by way of email or portal notifications. It remains your responsibility to ensure that we have the latest and correct contact details on record.

4.6. If we send a communication to the contact information provided by you, but you do not receive it because your contact details on file are incorrect or blocked (in the case of an email), or if you are otherwise unable to receive communications, the communication will still be deemed to be successfully delivered to you.

4.7. If you do not agree with a Material Change to the Agreement, which change is not a requirement in terms of the Rules and/or our agreement with our Third-Party Service Providers and/or for security purposes, you must, before the expiry of 30 Days from the date of the notification of the change (“Notification Period”), notify us of your objection to the proposed changes by contacting our Help Desk.

4.8. Notwithstanding any provision in this Agreement, any changes to the Rules cannot be disputed as we and our Affiliates are legally bound to these changes.

4.9. Your continued use of our Products and Services after the expiry of the Notification Period will serve as confirmation that we have given you adequate time to read and understand the terms of the Agreement and will be regarded as your acceptance of the amended terms of the Agreement.

4.10. The use of our Products and Services after the Notification Period will be governed by the amended Agreement.

4.11. In the event of a dispute as to the materiality of an amendment between the Parties, we will make the final determination in this regard.

5. GENERAL PROVISION

5.1. We provide the Products and Services as is and for commercial use only.We do not represent or warrant that your use of the Products and Services will be secure, timely, uninterrupted, error-free, or that all errors can be corrected completely.

6. INDEMNITIES

6.1. By utilizing any of our Products and Services, you expressly agree to indemnify, defend, and hold us and our Third-Party Service Providers harmless from any and all claims and Losses that may be suffered by you or incurred by us and our Third-Party Service Providers, arising from:

6.1.1. your actions, omissions, or non-compliance with the Agreement, including those of your employees or third-party service providers;

6.1.2. any dispute between you and your third-party service provider;

6.1.3. a claim arising out of an email instruction, mandate, consent, commitment, or similar that purports to be given by you (“purported instruction”).You agree that any purported instruction will be regarded as coming from you irrespective of the format in which it is received by us, and you agree to be bound by it;

6.1.4. a claim or Loss suffered due to accidents, misuse, Destructive Elements, or failures or fluctuations of electrical power;

6.1.5. any Loss suffered as a result of any corrupted computerized Data arising during the use of the Products and Services that is not contributable to us;

6.1.6. any breach of security or Data Compromise occurring as a result of Data being transmitted from you or your System or received by your System;

6.1.7. any sales, excise, import or export, value-added, or similar tax or duty;

6.1.8. all government permit fees, customs fees, and similar fees that may beincurred under the Agreement (“Taxes”) by you. Any Taxes due or paid by you shall not be deducted from, or offset against any payments due to us under the Agreement.

6.2. We shall not be liable whatsoever in circumstances that are beyond our control, including:

6.2.1. any malfunction of any hardware or software used by you or us;

6.2.2. to the extent that the Losses arise out of any failure by you to keep full and up-to-date security copies of your software;

6.2.3. for any delays in performing the Services or providing the Products where such delay is caused by you, your agents, employees, or third-party providers, in which case we shall be allowed additional time to render the Services and to provide the Products.

6.3. Notwithstanding anything contained in this Agreement, our maximum liability to you in respect of all Losses, claims, or a series of claims arising from the same cause of action shall be limited to the aggregate maximum amount equivalent to the Fees payable by you to us during the 60 (sixty) days immediately preceding the date on which the cause of action arose, in relation to the relevant Services and Products.

6.4. You shall be liable for all Losses incurred by us (including fines and penalties imposed on us) as a result of your actions, omissions, and non-compliance, and you hereby agree to defend and indemnify us against all claims and Losses arising from such actions, omissions, and non-compliance.

7. POPIA: PROCESSING YOUR DATA

7.1. Please refer to our Privacy Policy, located on our Website.

7.2. The Privacy Policy is incorporated into and shall form part of your Agreement.

7.3. Your Personal Information (including “Special Personal Information” as defined in POPIA) may be securely processed and stored by Floatpays and our Third-Party Service Providers. For more information on how your data is used and protected, please refer to our Privacy Policy.

7.4. By accepting the Terms of the Agreement or by utilizing our Products and Services, you acknowledge that in order to:

7.4.1. conclude and fulfil contractual terms and obligations to you;

7.4.2. comply with obligations imposed by Law; or

7.4.3. protect or pursue your, our, or a third party’s legitimate interests, including offering Products and Services that best meet your needs, your Personal Information may be processed by us and our Providers as set out in our Privacy Policy.

7.5. You hereby provide your consent for us to disclose your Personal Information to any regulatory, or industry body or Third-Party Service Provider.

8. CONFIDENTIAL INFORMATION AND DATA PROTECTION

8.1. Floatpays will treat all personal and financial information you provide as confidential. We will keep your information secure and aligned with industry standards, and will only share it with authorised Third-Party service providers for the purpose of delivering our Products and Services. We will retain your information only as long as necessary to comply with legal requirements or support your use of the Moneyclub Application.

9. INTELLECTUAL PROPERTY

9.1. Intellectual Property owned by us is and will at all times be and remain our property or that of our licensors, and you will not acquire any rights, title, or interest of any kind in or to any or all of such Intellectual Property.

9.2. Except as expressly permitted in these Terms, you will not use our (or our licensors') Intellectual Property without our prior written or electronic consent. All rights in and to our (or our licensors') Intellectual Property not expressly granted in these Terms are hereby reserved.

9.3. You may not reference Floatpays, our brands, logos, or Third-Party Service Providers in any public announcements, testimonials, advertising, ordisplays without our written approval. Where permission is granted, you mustf ollow our usage guidelines.

9.4. You do not own the Intellectual Property rights associated with the Products and Services. Upon termination of the Agreement or earlier if we require, you agree to immediately cease all use of our and our Third-Party Service Providers’ marketing material, trade names, branding, logos, and any similar material.

9.5. You may not remove any legal, copyright, trademark, or other Intellectual Property rights notices contained in or on any materials we provide to you.

9.6. You agree not to alter, distort, and/or animate our trademarks in anyway.

9.7. By operation of Law, we become the owner of the Intellectual Property in any work created or executed by the Parties, whether alone or with others,under the Agreement, and you will have no rights in the Intellectual Property.In this regard, you hereby irrevocably and in perpetuity cede, assign, and make over (with effect from inception in respect of future copyright, as the case may be) the entire worldwide right, title, and interest in and to any such Intellectual Property rights to us.

9.8. You agree to sign any documents or take any actions necessary for us to perfect our rights of ownership over any such Intellectual Property ifrequested by us. You further agree to do so within 5 (five) Business Days after the date of request.

9.9. You hereby undertake and agree that you shall not claim any ownershiprights whatsoever or dispute or assist anyone else in disputing the validity of any Intellectual Property, including any advertising material, belonging to our Providers or us during or after the Agreement.

10. FEES

10.1. In exchange for using the Products and Services, you agree to pay the Fees as set out in the Fee Schedule.

10.2. Should additional Fees be payable, we will provide you with a quote.

10.3. All Fees will be inclusive of VAT.

10.4. Unless otherwise agreed in writing, no set-off may be applied to anyamounts due by you to us.

10.5. All payments payable to us under this Agreement shall become dueimmediately on its termination. This clause is without prejudice to any right to claim for interest under the Law or under this Agreement.

11. Disputes

11.1. If you do not raise any query regarding the correctness of the Fees,debit order or your invoice within 30 (thirty) calendar days from the date on the invoice or debit (whichever is applicable), the Fees will be deemed to be correct. We are not liable for any errors or omissions brought to our attention after 30 (thirty) calendar days have passed.

11.2. This clause does not affect our right to claim any overpayments made to you in error or any other amounts that may be due to us.

12. Confirmation of amounts owing

12.1. A letter signed by one of our managers is sufficient evidence of any amount you owe, which is due to us under the Agreement. Unless you can prove the contrary, we may use this letter to obtain provisional sentence, default judgment or summary judgment or commence any other legal proceedings. You agree that we do not have to prove the appointment of the manager who signs the letter.

13. Fees Increases

13.1. We reserve the right to review your Fees from time to time, and we will advise you in writing (including by email, written communication, push messages, statement messages, SMS or notification on our portal) of any amendments thereto on 30 (thirty) days’ notice. The minimum increase which will apply will be in accordance with CPI. Additionally, we reserve the right to amend the applicable Fees immediately in the event of any changes to costs imposed by regulatory bodies, financial institutions, or Third-Party Service Providers that impact our operational costs related to the Services and Products we provide to you.

14. DEFAULT/BREACH

14.1. If any of the following events take place, you will be in default of your Agreement:

14.1.1. you do not comply with the terms of your Agreement or the Rules; or

14.1.2. you submitted false information to us that is regarded as material to us entering into the Agreement with you.

14.2. If you are in default, we may do the following:

14.2.1. provide you with written notice to remedy the default within aprescribed time period;

14.2.2. hold you legally responsible for any Losses we have suffered because of your default;

14.2.3. suspend your Products and Services immediately and without prior written notice;

14.2.4. delay payment of amounts due to you until such time that the default hasbeen rectified;

14.2.5. terminate the Agreement immediately upon notice; and

14.2.6. rely on any of the remedies available to us in Law.

15. If we suspend your Products and Services:

15.1. your monthly Fees (where applicable) shall continue to apply for the Products and Services during any suspension period until the Products and Services are either restored or the Agreement is terminated in accordance with the termination provisions of the Agreement.

16. If we commit a breach of any material provision of this Agreement and do not remedy this breach within 30 Business Days after receiving written notice from you asking us to do so, or such other period communicated by us, then you will have the right, without prejudice to your other rights in Law, to cancel this Agreement immediately or claim specific performance of any obligation.

17. THIRD-PARTY SERVICE PROVIDERS

17.1. If we refer you to any Third-Party Service Providers, such third party shall be considered your Third-Party Service Providers, and you will be solely responsible for all risk and liability that may arise from the use of any services and products provided by the third party service provider and compliance with the applicable rules of the third party service provider.

17.2. We shall not be held liable for any disputes between you and your third-party service provider. You agree to indemnify us against any Losses incurred as a result. Any disputes that arise must be directly addressed with your Third-Party Service Provider. The services provided to you by your third party service provider create separate legal rights and obligations between you and the Third-Party Service Provider.

18. FORCE MAJEURE

18.1. Should we be prevented from fulfilling any of our obligations due to a Force Majeure event, we shall provide you with notice specifying the cause and anticipated duration of the Force Majeure event.

18.2. We will notify you once the Force Majeure event has terminated.

18.3. The performance of our obligations will be suspended from the date provided in the written notice until you receive confirmation that the Force Majeure event has terminated.

18.4. We are not responsible for any delay and/or failure of performance or any Losses incurred due to the Force Majeure event. You will not be entitled to claim any Losses for the delay and/or the failure by us to perform ourobligations.

18.5. If the Force Majeure event continues for longer than 30 consecutive days, you may terminate the agreement on 30 days' written notice to us.

19. INFORMAL DISPUTE RESOLUTION AND ARBITRATION

19.1. You agree that any dispute that arises (other than where an interdict is sought, or urgent relief may be obtained from a court of competent jurisdiction) shall first be dealt with informally and in good faith between the Parties' designated authorised personnel by written notice to them at each Party’s registered address for service.

19.2. If the Parties are unable to resolve the dispute through informal resolution within 7 (seven) Business Days, then the dispute may be submitted to and decided by arbitration in accordance with the Arbitration Foundation of Southern Africa (“AFSA”) rules.

19.3. The arbitrator will be a senior counsel with at least ten years standing agreed upon between the parties.

19.4. If the Parties are unable to agree upon an arbitrator within 10 (ten)Business Days after the arbitration has been demanded, the nomination will be made by the chairman of AFSA at the request of either Party.

19.5. The arbitration will be held in Cape Town.

19.6. Either Party may have the award of an arbitrator made by an order of court.

19.7. You agree to keep the evidence in the arbitration proceedings and any order made by any arbitrator confidential.

20. NOMINATED ADDRESS FOR RECEIPT OF LEGAL DOCUMENTS

20.1. Our nominated address for the receipt of all legal documents relating to this Agreement is set out below:

Postal Address: Floatpays (Pty) Ltd, Regus Business Centre, 1st Floor, Willowbridge Centre, Carl Cronje Drive, Bellville, Western Cape, 7530, South Africa Email address: legal@floatpays.co.za

20.2. Any notices given by either Party under this Agreement shall be deemed to have been duly given:

20.2.1. on delivery, if hand delivered to the Party's physical address during business hours on a Business Day;

20.2.2. if delivered by courier service, be deemed to have been received by the addressee on the Business Day following the date of such delivery by the courier service concerned;

20.2.3. on transmission, if sent to the Party's email address.

20.3. The Parties may change their respective domicilium address (to another physical address in the Republic of South Africa only) by notice in writing(including email) to the other Party.

20.4. Notwithstanding anything to the contrary contained herein, a written notice or communication actually received by a Party from the other shall be adequate written notice or communication to such Party, notwithstanding that it was not sent to its chosen domicilium.

21. CESSION AND ASSIGNMENT

21.1. You acknowledge and agree that we are entitled to cede, assign, and transfer this Agreement, a part thereof, or any rights and obligations set outherein, as and when we require to a third party.

21.2. You will not be entitled to cede, delegate, assign, or in any other manner dispose of any of your rights or obligations arising out of this Agreement without our prior written approval, which approval is at our sole and absolute discretion.

22. DISCLOSURES

22.1. This serves to provide you, the client, with the information on the financial service provider as required in terms of the Financial Advisory and Intermediary Services Act (Act 37 of 2002), and you must be provided with a written copy of this document within 30 days.

22.2. Floatpays (Pty) Ltd is an authorised Financial Services Provider with license number FSP 52120. A copy of thelicence is available and displayed at the business addresses stipulated below. Apart from the general exemptions published,no exemptions, conditions or restrictions are applicable to the licence.

22.3. The FSP has contracts with the following product providers: Standard Bank

22.4. The FSP and the Representative is authorised to provide financial advice and intermediary services under a Category 1 License and under the following Categories :

22.4.1. Long-Term Insurance subcategory A

22.4.2. Short-Term Insurance Personal Lines

22.4.3. Long-Term Insurance subcategory B1

22.4.4. Long-term insurance subcategory B2

22.4.5. Long-term Insurance subcategory B2-A

22.4.6. Long-term Insurance subcategory B1-A

22.4.7. Short-term Insurance Personal Lines A1

22.4.8. Long-Term Insurance subcategory C

22.4.9. Retail Pension Benefits

22.4.10. Participatory interests in a collective investment scheme

22.4.11. Long-term Deposits

22.4.12. Short-term Deposits

22.5. Key Individuals are employed by Floatpays (who accept responsibility for the activities performed within their mandate). This mandate is available on request.

22.6. The FSP earns remuneration based on the commission paid by the product provider concerned. Commission is calculated according to the commission scale applicable to financial advisers,and is specified in the documentation provided. Additional remuneration (broker’s fee) will be applicable on servicesrendered as agreed upon upfront in writing between yourself and the representative. Commission remuneration and fees earned are specified in documentation provided to you.

22.7. We are not an associated company of any particular insurer and we do not own more than 10%, either directly or indirectly, in any product supplier whose products are provided to you. The FSPreceived more than 30% of total annual remuneration in the previous year from the following product suppliers: None

22.8. At Floatpays we strive to render services and provide advice to ourclients that are in their best interest, and to avoid any possible conflict of interest that may arise. To this end we have adopted a conflict of interest management policy as required in terms of the current legislation. A copy of this policy is available for your perusal at our offices.

22.9. We have a Complaints Resolution Policy in place. In the event that you are dissatisfied with any aspect of Floatpay's service please submit a complaint in writing to Brian Marsh at our offices. A copy of our Resolution Policy is available on request. If the complaint is not resolved to your satisfaction, you may refer the complaint to the FAIS Ombud whose details are available below.

22.10. We hold Professional Indemnity Insurance.

22.11. Compliance with the FAIS Act is monitored by Masthead (Pty) Ltd, a compliance practice approved by the Financial Services Board.

22.12. We acknowledge that in the course of rendering services to the client in terms of this authority, they shall come into possession of information of a confidential nature. We shall not,whether during the course of this agreement or at any time thereafter, use or disclose or allow third parties to use or disclose any of the confidential information except to the extent permitted by the client in writing or asrequired by law.

22.13. Contact details of our Compliance Officer:

Masthead (Pty) Ltd

Tel no.: (021) 686 3588

22.14. Contact details of the FAIS Ombud:

PO Box 74571, Lynnwood Ridge, 0040

Tel no.: 0860 FAISOM (0860 324 766)

Fax no.: (012) 348 3447

Email: info@faisombud.co.za

22.15. Contact details of the Financial Sector Conduct Authority:

The Registrar Financial Sector Conduct Authority – FAIS Dept.

PO Box 35655, Menlo Park, 0102

Tel no.: (012) 428 8000

Fax no.: (012) 347 0221

22.16. Contact details of FSP:

Floatpays (Pty) Ltd

Regus Business Centre, 1st Floor, Willowbridge Centre

22.17. Key Individuals: Iwan Campher and Brian Marsh

Tel no.: 087 250 0099

Email: compliance@floatpays.co.za

SECTION B: PRODUCT AND SERVICE TERMS

23. SAVINGS PRODUCT

23.1. General

23.1.1. These Terms apply to your use of any Savings Product available through the Moneyclub Application. Product-specific terms are detailed under their respective sections.

23.2. Mandate

23.2.1. By completing the Application Form and selecting a Savings Product (Company Savings, Goal Save and Savings Club)

23.2.1.1.1. you appoint us as your agent and confirm that we act as your agent inmanaging your Account on your behalf;

23.2.1.1.2. by appointing us as your agent you assume all risks connected with the administration of the entrusted funds in your Account, as well as the responsibility to ensure that we execute the instructions as recorded in this Mandate;

23.2.1.1.2.1. you authorise us to perform the following tasks. When we perform thesetasks, we act solely in accordance with your instructions (whether communicated to us in writing, using the MoneyClub Application or verbally):

23.2.1.1.2.1.1. open, operate, manage, and close your Account and the TPFA Account;

23.2.1.1.2.1.2. transact on the TPFA Account on your behalf, in accordance with this Mandate;

23.2.1.1.2.1.3. negotiate the interest rate for the TPFA Account with SBSA; and

23.2.1.1.2.1.4. authorize payment of any applicable fees related to the opening,operation, and management of the TPFA Account.

23.2.1.2. Instructions to SBSA

23.2.1.2.1. In terms of the Mandate received from you, SBSA is authorised to act on all instructions provided by us on your behalf regarding the TPFA Account.

23.2.1.2.2. All warranties given (if any) in terms of the mandate are deemed to be given or made in favour of SBSA and SBSA will be deemed to have accepted thebenefits given to it by the Mandate when it receives any deposit on your behalf.

23.2.1.2.3. Furthermore, you waive your right to claim for any loss, damage, costs,and expenses from SBSA that you may suffer or incur, of whatever nature and howsoever arising, as a result of any negligent acts or omissions by SBSA, itsemployees, directors, agents, or other representatives.

23.2.1.3. Client Due Diligence

23.2.1.3.1. To access and use our Savings Products, you acknowledge and agree that we act on behalf of SBSA, an Accountable Institution, and are obligated to conduct client due diligence in compliance with applicable anti-moneylaundering laws.

23.2.1.3.2. You are required to provide us with complete, accurate, and up-to-date FICA Documentation, as specified in the Application Form. Failure to provide the mandatory FICA Documentation may result in the refusal to process your registration for the Savings Product or the immediate suspension of your access to the Savings Product.

23.2.1.3.3. You warrant that all information you provide is true, accurate, and complete. If any information is found to be false, incomplete, or misleading,we may immediately terminate your access to Savings Product and take any further actions required or permitted by law.

23.2.1.3.4. We also reserve the right to conduct further verification checks,including requesting additional documentation, as part of our ongoing anti-money laundering compliance obligations. If we are unable to verify your identity or compliance with applicable laws, or if we suspect fraudulent activity, we may refuse to provide services or suspend your use of the Savings Product.

23.2.1.3.5. You also warrant that the investments which will form the subject of this Mandate do not emanate from, nor are they the proceeds of, any unlawful activity whatsoever.

23.2.1.3.6. SBSA will have access to the information provided by you to us,including Personal Information for the purposes of the TPFA Product as well asto comply with its obligations in terms of legislation. The TPFA Account will be operated through the TPFA division of SBSA and not through any other branch network whatsoever.

23.3. Account Management

23.3.1. You acknowledge that all Account access, transactions, and servicerequests must be made through the Moneyclub Application. You will not be able to transact directly through bank branches. You are responsible for maintaining the confidentiality of your login credentials. If you suspect that your credentials have beencompromised, change them immediately and contact our Help Desk. You indemnifyus from losses caused by any unauthorised access resulting from your failure to keep your credentials secure.

23.4. Client Due Diligence

23.4.1. We are required to comply with applicable anti-money laundering laws,including the Financial Intelligence Centre Act (FICA). You must provide complete and accurate documentation when registering.

23.4.2. We may request additional documents and conduct ongoing verification. Ifwe are unable to verify your identity or suspect fraudulent activity, we may suspend or terminate access to your Savings Product.

23.4.3. You warrant that all information you provide is accurate and that funds deposited are not derived from unlawful activities.

23.5. Reconciliation

23.5.1. We are responsible for reconciling all transactions associated with your Savings Account, including contributions, withdrawals, and interest earned.Reconciliations will be performed and updated as outlined in each Product’sspecific terms.

23.6. Interest

23.6.1. The interest rate we offer on the Account may change at our discretion.Unless we say otherwise, changes to the interest rate will take effect immediately.

23.6.2. You can get information about the interest rates that apply to your Account on the Floatpays app, or by contacting Floatpays customer support.

23.6.3. The interest rate applicable to the Savings Product you select, as well as the method for calculating such interest, will be clearly displayed on the MoneyClub Application on your screen.

23.6.4. By using the Savings Product, you acknowledge that the displayed interest rate and calculation method form part of this Agreement and are binding upon you.

23.6.5. The current interest rate applicable to your Product will be accessible to you at any time through the MoneyClub Application or our Helpdesk.

23.6.6. You will earn interest on the funds in your Account on a monthly basis.Interest is quoted per annum and is calculated daily based on the balance of funds in your account.

23.6.7. The rules for interest vary depending on the Product you selected.

23.7. Promotional and Competition Interest Rates

23.7.1. From time to time, we may introduce promotional or competition-specific interest rates on the Account to reward you and encourage savings. Thesespecial interest rates will be offered at our discretion and will be clearlyindicated as applicable only during the specified promotional or competition period.

23.7.2. Any promotional or competition-specific rate will be designed to provide an additional benefit to you, above the agreed interest rate that typicallyapplies to your Savings Account. This ensures that any promotional rates are in your best interest.

23.7.3. Such interest rates will only be valid for the period of the promotion or competition.

23.7.4. The TPFA is an investment bank account which is opened at SBSA by us on your behalf in terms of this Agreement and in accordance with the provisions of the Mandate.

23.7.5. Upon termination of the TPFA Account at SBSA, the Funds credited to the account will be paid to us and not directly to you. However, if we are in a state of winding-up, SBSA will not transfer the Funds to the liquidator of our insolvent estate. Instead, SBSA will deduct any fees or costs due to it and, to the extent permitted by law, pay the remaining Funds directly to you.

23.7.6. Additionally, SBSA is authorized to debit the TPFA Account with any applicable fees upon receiving instructions from us, acting on your behalf. Wewill ensure that all statements issued by SBSA to you (as applicable) clearly reflect the fees charged by us for your transparency and record-keepingpurposes.

23.7.7. Disputes: We shall not be liable for any disputes, claims, or issuesarising between you and your Employer, or between you and any member of the Savings Club. Any such disputes are solely the responsibility of the partiesinvolved.

23.7.8. Tax and Financial Advice: It is important that you fully understand thefeatures, benefits, terms and conditions, fees, and potential tax implicationsassociated with the Account before making any investment. These Product Termsare provided for informational purposes only and should not be construed as taxor financial advice from us. We recommend consulting with your tax advisor or financial advisor to ensure the Account aligns with your personal financial and tax planning needs.

23.7.9. Complaints and Query Resolution: If you have any questions or concerns about the Mandate or your Account, you can contact your customer success manager or call us on +27 87 250 0099. If you have a complaint about your Account or this Mandate, you can follow our complaints process, which is available on our website at www.floatpays.com. If you still have a concern or if you are not satisfied with the way it was resolved, you can contact: the Ombudsman for the Financial Advisory and Intermediary Services Act through the website at www.faisombud.co.za,by telephone at (012) 762 5000, by fax at (012) 348 3447 or by email atinfo@faisombud.co.za.

23.7.10. All warranties given or statements made by you in terms hereof aredeemed to be given or made in favour of SBSA, and SBSA will be deemed to have accepted the benefits given to it by this Mandate when it receives any deposit from your Employer or from us on your behalf.

23.7.11. You consent to us disclosing any communication between you and usrelating to the TPFA Product to SBSA,and SBSA shall have the right to intercept, monitor, and retain any suchcommunications.

23.7.12. SBSA will have access to the information provided to us for the purposes of the TPFA Product as well as to comply with its obligations in terms of legislation. The TPFA Account will be operated through the TPFA division of SBSA and not through any other branch network whatsoever.

23.8. Tax Certificate

23.8.1. We will issue you with income tax certificates as required by law. Youare responsible for ensuring your information is accurate and for seeking advice from a tax professional regarding any tax implications.

23.9. Disputes

23.9.1. We are not responsible for resolving any disputes between you and your employer, or between you and other members of a Savings Club. Those disputes must be handled by the parties involved.

23.10. Tax and Financial Advice

23.10.1. These Terms and related information are provided for general information only. They do not constitute tax or financial advice. Please consult with a licensed advisor to ensure that our Savings Products meet your personal financial planning needs.

24. COMPANY SAVINGS

24.1. General

24.1.1. Company Savings enables you, as an employee of a participating employer, to accumulate savings and earn interest in your Savings Account through automatic payroll deductions.

24.1.2. By using Company Savings, you agree that a portion of your salary will be deducted and transferred into your Account, in line with the amount authorised between you and your employer.

24.2. Funding the Company Savings Account

24.2.1. The Account is funded via payroll deduction processed by your employer.

24.2.2. Deductions will be credited to your Account on the business dayfollowing the successful receipt and reconciliation of funds.

24.2.3. You may also make voluntary top-up contributions via the Moneyclub Application.

24.2.4. Only you and your employer may deposit into this Account — nothird-party deposits are allowed.

24.3. Minimum Deposit

24.3.1. Minimum deposit amounts may apply based on your payroll cycle and will be communicated to you in the Moneyclub Application.

24.4. Interest

24.4.1. Interest will begin accruing on the first business day after the relevant payroll deposit is cleared and allocated to your Company Savings Account.

24.4.2. You will earn interest monthly, and the applicable rate will always be visible in the Moneyclub Application.

24.5. Reconciliation

24.5.1. We will reconcile all contributions made to your Company Savings Account and provide visibility of your updated balance via the app.

24.6. Withdrawing Funds and Closing the Account

24.6.1. A designated “Cash-Out Day” may be agreed between you and your employer.

24.6.2. You may request to withdraw funds on or after that date.

24.6.3. Early withdrawal requests must be submitted via your employer and may be subject to a Cash-Out Fee.

24.6.4. If you do not request a withdrawal, your funds will remain in the Account, continuing to earn interest.

24.7. Employment Termination

24.7.1. If your employment ends:

24.7.1.1. We will pay out your Account balance within 5 business days of receivingfinal payroll contributions and completing reconciliation.

24.7.1.2. You may choose to have the balance paid to your bank account or transferred to another Floatpays Savings Product (e.g. Goal Save or Savings Club).

24.7.1.3. After payout or transfer, your Company Savings Account will be closed.

24.8. Limitations

24.8.1. We are not responsible for payroll errors, delays, or failed deductionscaused by your employer.

24.8.2. Any employment-related disputes must be resolved directly with your employer.

24.9. Fees

24.9.1. By using the Company Savings Product, you agree to pay any applicable fees as outlined in the current Fees Schedule. Your interest rate will always be displayed as a net rate (after fees).

24.10. Fees Disclosure:

24.10.1. You agree and acknowledge that we earn an administration fee of up to4.95% per annum from Standard Bank TPFA which will be debited from your account. Your indicated interest rate will at all times be net of this administration fee.

25. GOAL SAVE

25.1. General

25.1.1. Goal Save enables you to set a specific savings target and track your progress towards that goal using a dedicated savings account in the Moneyclub Application. You have full control over the funds in your Goal Save Account, including the ability to contribute, withdraw, and make purchases via approved Third-Party Service Providers.

25.2. Funding the Goal Save Account

25.2.1. You can fund your Account via EFT or Payshap.

25.2.2. You may also transfer funds into your Goal Save Account from your Earned Wage Access balance (if supported by your employer).

25.2.3. The unique reference number displayed in the Moneyclub Application must be used for all deposits. This ensures your funds are correctly allocated.

25.2.4. If you use the wrong reference or omit it:

25.2.5. Your funds may not be correctly assigned to your account,

25.2.6. Interest accrual may be suspended until corrected, and

25.2.7. We cannot guarantee successful recovery of misdirected funds, though we will assist where possible.

25.2.8. All contributions will be reconciled within 24 hours of receipt.

25.3. Interest

25.3.1. Interest accrues from the first business day after a valid deposit is received and correctly referenced.

25.3.2. Interest is calculated daily, paid monthly, and visible in the Moneyclub Application.

25.3.3. Your interest rate will vary in line with the SARB repo rate and is always net of fees.

25.4. Using Funds in Your Goal Save Account

25.4.1. You can use the funds in your Goal Save Account to make purchasesthrough approved third-party service providers (e.g. airtime, electricity,vouchers).

25.4.2. Transactions must be initiated through the Moneyclub Application.

25.4.3. Once authorised, we will process the payment and provide a voucher or reference as applicable.

25.4.4. Voucher purchases are final and non-refundable, except for proven billing errors.

25.4.5. Expired, lost, or unused vouchers are not refundable.

25.4.6. Refunds are only allowed if the debited amount doesn’t match the voucher received.

25.4.7. You agree to indemnify Floatpays from any loss caused by incorrect third-party details or amounts submitted.

25.5. Closing the Account

25.5.1. You may close your Goal Save Account at any time by withdrawing your balance through the app. No penalties apply, but fees may be charged according to the Fees Schedule.

25.6. Fees

25.6.1. By using Goal Save, you agree to pay the fees as outlined in the Fees Schedule. Interest shown to you in the Moneyclub Application will always be net of any administration fee.

25.7. Fees Disclosure:

25.7.1. You agree and acknowledge that we earn an administration fee of up to4.95% per annum from Standard Bank TPFA which will be debited from your account. Your indicated interest rate will at all times be net of this administration fee.

26. SAVINGS CLUB

26.1. General

26.1.1. The Savings Club allows you (as the Club Administrator) and other Approved Members to collectively contribute funds toward a shared financial goal.

26.1.2. Each Approved Member retains full ownership of their individual contributions, which are tracked separately within the shared Savings Club Account.

26.1.3. You may join an existing Club or create a new one. When creating a Club, the Administrator defines the savings goal, invites members, and manages contributions and withdrawals.

26.2. Funding the Savings Club Account

26.2.1. Contributions can be made via EFT, Payshap, or within the Moneyclub Application.

26.2.2. Only you or Approved Members may make deposits.

26.2.3. All deposits must use the unique reference number provided in the Moneyclub Application to ensure correct allocation.

26.2.4. If the reference is missing or incorrect:

26.2.4.1. Funds may not be allocated correctly,

26.2.4.2. Interest accrual may be suspended, and

26.2.4.3. We may not be able to recover funds sent to the wrong account.

26.2.5. All contributions are reconciled within 24 hours of receipt.

26.3. Interest

26.3.1. Interest accrues from the first business day after a correctlyreferenced contribution is received.

26.3.2. The current interest rate is visible in the Moneyclub Application.

26.3.3. Interest is calculated daily and paid monthly.

26.3.4. Your share of earned interest reflects your personal contributions.

26.4. Transparency & Visibility

26.4.1. Your personal contributions and the Club’s total savings balance are visible in real time via the Moneyclub Application.

26.4.2. All Approved Members can view each other’s contributions for transparency and accountability.

26.5. Administration & Rules

26.5.1. The Administrator is responsible for setting the savings goal, managingmember contributions, and handling withdrawal requests.

26.5.2. Only Administrators can invite new members.

26.5.3. All Clubs must follow the Floatpays Club Constitution, available on request.

26.5.4. We reserve the right to reject or close Clubs that do not comply with the Terms.

26.6. Prohibitions

26.6.1. Savings Clubs may not be used for:

26.6.2. Lending money to members or others,

26.6.3. Operating as a loan or credit provider in any form.

26.7. Maximum Contributions

26.7.1. The maximum allowed balance in a Savings Club is currently R100,000.This limit may change and will be communicated in-app or via email.

26.8. Goal Achievement & Disbursement

26.8.1. If the savings goal is achieved, funds will be disbursed as per the agreed Club rules and proportional to each member’s contributions.

26.8.2. If the goal is not met, members can choose to extend the timeline or withdraw their contributions.

26.9. Termination & Withdrawal

26.9.1. Any member may withdraw their share at any time, even if the goal is not yet reached.

26.9.2. If the Club is dissolved, all contributions will be returned pro rata to members.

26.9.3. Upon a member’s passing, their contributions will be transferred to their estate in accordance with applicable law.

26.10. Disputes

26.10.1. We will attempt to assist in resolving internal Club disputes if escalated via the Help Desk, but we are not obligated to mediate or enforce Club-level disagreements.

26.11. Fees

26.11.1. By using the Savings Club, you agree to pay any applicable fees as outlined in the Fees Schedule. Interest rates shown are net of administration fees.

26.12. Fees Disclosure:

26.12.1. You agree and acknowledge that we earn an administration fee of up to4.95% per annum from Standard Bank TPFA which will be debited from your account. Your indicated interest rate will at all times be net of this administration fee.

27. EARNED WAGE ACCESS (EWA)

27.1. General

27.1.1. The Earned Wage Access (EWA) Product allows you to access a portion of your already earned wages before your standard payday. This is not a loan or credit facility — no interest is charged.

27.1.2. Access to EWA is available only through employers that have integrated with Floatpays.

27.2. How It Works

27.2.1. Your employer defines the portion of your earned wages available for early access.

27.2.2. Floatpays integrates with your employer’s payroll system to retrieve real-time earnings data and calculate your EWA balance.

27.2.3. You may request a withdrawal up to your available limit using the Moneyclub Application.

27.2.4. Once withdrawn, the amount will be automatically deducted from your next salary by your employer.

27.3. Eligibility

27.3.1. By using EWA, you warrant that:

27.3.1.1. You are currently employed by the participating employer;

27.3.1.2. You have not resigned or been terminated; and

27.3.1.3. Your salary will cover the EWA deduction at the next payday

27.3.1.4. If your salary is insufficient to recover the full amount, you remain liable to Floatpays for the balance.

27.4. Fees

27.4.1. A transaction fee applies to each EWA withdrawal. The amount or percentage will:

27.4.2. Be calculated based on the withdrawal value and payment method, and

27.4.3. Be clearly displayed before you confirm the transaction.

27.4.4. No interest is charged on EWA amounts accessed.

27.5. Funding into Other Products

27.5.1. If available through your employer, you may choose to transfer your EWAwithdrawal directly into a Goal Save or Savings Club account instead ofreceiving it as a cash payout.

27.6. Payroll Data Consent

27.6.1. To enable EWA, you authorise Floatpays to access and process payroll data via your employer, including:

27.6.1.1. Your current earnings;

27.6.1.2. Bank account details for disbursement;

27.6.1.3. Payroll deductions or loan obligations (if any).

27.6.2. This data is processed in line with POPIA and our Privacy Policy, which is available on our website and in the Moneyclub Application settings.

SECTION C: DEFINITIONS

28. “Account” means your Goal Save, Company Savings, Savings Club account (as applicable) opened on the SBSA TPFA System subject to our approval.

29. “Accountable Institution” shall have the meaning assigned in FICA.

30. "Application Form" or "Application Form and Fees Schedule" means the online form used to submit requests for Products and Services provided by us.

31. “Approved Contributor” means any individual authorised to contribute to a Savings Product.

32. “Approved Member” means any member authorised by us to participate in a Savings Club.

33. “Authorized Representatives” means individuals who have been legallygranted authority to act on behalf of a Party.

34. "Business Day" means any day excluding Saturdays, Sundays, and gazetted publicholidays in South Africa.

35. “Cash-Out Day” means the designated date (agreed between you and your employer, if applicable) on or after which you may request to withdraw your funds.

36. “Cash-Out Fee” means a fee charged for withdrawing funds before the Cash-Out Day, as detailed in the Fees Schedule.

37. "Confidential Information" means all Data, Intellectual Property,Personal Information, fees, materials, and other proprietary information disclosed between parties during the course of the relationship.

38. "Data" means any personal or non-personal information, records, or factsgoverned by applicable legislation or standards.

39. "Data Compromise" means unauthorised access to, loss, corruption, or disclosure of Data.

40. "Data Subject" means the individual to whom the Personal Information relates.

41. "Destructive Element" means any malicious code or function intended to compromise, damage, or disrupt IT systems or data.

42. "Effective Date" means either (i) the date you accept the Terms in the Application Form,or (ii) the date you begin using the Products and Services.

43. “Employer” means the organisation that employs you and facilitates deductions for certain Products (e.g. Company Savings or EWA).

44. “EWA Product” means the Earned Wage Access product that allows early access to earnedwages based on limits set by your employer.

45. "Fees" means the charges payable by you to Floatpays, as set out in the Fees Schedule.

46. "Fees Schedule" means the document that outlines all applicable fees for Products and Services offered by Floatpays.

47. “FICA Documentation” means the identification documents you must provide under the Financial Intelligence Centre Act.

48. “Floatpays”, “us”, “we” or “our” means Floatpays (Pty) Ltd, registration number 2019/444303/07, a registered Financial Services Provider (FSP 52120).

49. “Force Majeure” means events beyond the control of either party (e.g. naturaldisasters, strikes, pandemics) that prevent the fulfilment of contractualobligations.

50. "General Terms of Use" or "Terms" means this agreement and any referenced documents that govern your relationship with Floatpays.

51. "Help Desk" means our customer support team, available during business hours, via:

52. Email: support@floatpays.co.za

53. WhatsApp: Let's Chat!

54. "Intellectual Property" means all proprietary rights, content,trademarks, systems, software, and designs belonging to Floatpays.

55. "Law" means all laws, regulations, codes, and guidelines applicable in South Africa.

56. "Losses" means any costs, damages, fines, taxes, claims, or liabilitiesincurred.

57. “Mandate” means the authorisation you provide to Floatpays to manage your Account and perform specified functions on your behalf.

58. "Material Change" means any major change to these Terms that significantly affects yourrights or obligations.

59. “Moneyclub Application” means the Floatpays mobile app used to access savings, EWA, and related services.

60. “Our System” means the technology, networks, and infrastructure used to deliver our Products and Services.

61. "Party" means either you or Floatpays, collectively referred to as the “Parties”.

62. “Payroll Deduction Authorisation” means your written or digital consent to have a portion of your salary deducted for use in Floatpays Products.

63. "Personal Information" means any information related to an identifiable individual, as defined under applicable data protection laws.

64. "PASA" means the Payment Association of South Africa or its successor.

65. “Product” means any offering made available by Floatpays including savings, EWA, and other services described in the Application Form.

66. "Rules" means all applicable regulations, policies, and industry standards that govern our services.

67. “Savings Product” means any savings-related service offered by Floatpays that allows you to earn interest on deposited funds.

68. “Savings Club” means a group-based savings product in which Approved Memberscontribute toward a shared goal.

69. “Savings Goal” means the defined financial objective set by you or your Club within the Moneyclub Application.

70. “SBSA” or "Standard Bank" means the Standard Bank of South Africa Limited, with registration number 1962/000738/06 and contact number 0860 123000.

71. "Service" means the delivery of support or administration required to provide the Products.

72. "Software" means Floatpays-owned software including the Moneyclub Application and any related updates.

73. “Third-Party Service Provider” means a third-party organisation that helps Floatpays deliver specific features or services within the Moneyclub Application including SBSA.

74. “TPFA” means the Third Party Fund Administration conducted by us on behalf of you with SBSA.

75. “TPFA Accounts” means the investment accounts opened at SBSA by us on your behalf in terms of this Agreement and in accordance with the provisions of the Mandate.

76. “TPFA Product” means the TPFA product offered by SBSA to us, in terms of which we are entitled to open, terminate and transact on the TPFA Accounts as your duly authorised agent, by way of electronic funds transfers or inter-account transfers.

77. “TPFA System” means any document, data or software utilised in or produced for thepurposes of provision of the TPFA Product by SBSA to you.

78. "Updates" means software corrections or patches.

79. "Upgrades" means enhancements or new features added to our Software.

80. "VAT" means Value Added Tax under South African law.

81. "Website" means www.floatpays.com.

82. "you" or "your" means the individual using our Products and Services as identified in the Application Form.

83. "Your System" means your own devices, applications, or networks used to access the Moneyclub Application or related services.