DEFINITIONS:

In these terms and conditions, the following words have the meanings set out hereunder, unless the context indicates otherwise:

1. “Agent” means any company/individual appointed and authorized by I&M Bank to sell, reload and refund Cards.
2. “ATM’’ means an automatic teller machine/terminal displaying either Visa Electron, Plus Logo or Visa Flag for effecting cash withdrawals, at which, inter alia, the Card may be used for the purpose of withdrawing Funds.
3. “Card” means the I&M Bank Pre-paid payment card, including the Nakumatt – I&M Bank Travel Card, Safari Card and any other pre-paid payment card issued by I&M Bank to the Cardholder.
4. “Cardholder” means such customer of I&M Bank to whom the Card has been issued pursuant to an application by such person, and who is authorized to hold the Card.
5. “Funds’’ means the amount of monies purchased and loaded onto the Card by the Cardholder from I&M Bank or Agents in respect of which the Card has been issued and any additional monies that may subsequently be purchased by the Cardholder (not including any sales commission or fees paid to such person/s, as are authorised by I&M Bank so to do, from whom the Card was purchased), less any amounts previously spent and any applicable fees charges, conversion fees, and other expenses incurred in connection with the use or possession of the Card.
6. “I&M Bank” means and refers to I&M Bank Limited, including but not limited to it’s successors in title and assigns and having its registered office at I&M Bank House, 2nd Ngong Avenue, P. O. Box 30238-00100, Nairobi, Rwanda.
7. “I&M Bank ATM” means an ATM owned and managed by I&M Bank and displaying I&M Bank Logo.
8. “Merchant” shall mean any person who owns or manages or operates a Merchant Establishment.
9. “Merchant Establishments” shall mean establishments which honour Cards.
10. “PIN” means the Personal Identification Number as provided to the Cardholder by I&M Bank, for use with and in relation to the Card in terms hereof.
11. “POS Terminal” shall mean point of sale electronic terminals at Merchant Establishments whether in Rwanda or overseas, capable of processing Transactions and at which, amongst other things, the Cardholder can use his Card to access his Funds to make purchases.
12. “Shared Network” shall mean ATMs which are not owned by I&M Bank but which accept Cards issued by I&M Bank.
13. “Transactions” shall mean cash withdrawals from the ATMs and / or any purchases made at the Merchant Establishments through the use of the Card.