Standard Bank Merchant Agreement

Termination Letter

Dear Trader

We notice that you have not processed any transactions on your Thrive point-of-sale (POS) device for more than six months.

We hereby give you notice to terminate your merchant agreement with Standard Bank with immediate effect.

A representative will come to collect the POS device equipment from your store. If you cannot hand over the equipment to us or if you are unavailable, we may continue to charge you as if the agreement had not terminated until we have managed to collect the equipment. If we must come to your premises more than once to collect the equipment, we will also charge you a collection fee. If we cannot collect the equipment at all or if the equipment is damaged, we may debit your Thrive wallet with the replacement value of the equipment.

Please note that you remain liable for any chargebacks and reversals that may arise for a period of six months after the termination of the agreement, and we have a right to debit your Thrive wallet if this happens. As stipulated in the terms and conditions of the merchant agreement, you must retain any card transaction slips for at least six months.

Call us on 0108 242979 if you would like to continue your merchant agreement and make further arrangements to reactivate your POS device.

Kind Regards

Standard Bank Thrive Team