Terms of use

1. Who we are

Dreamer is a product of Cedar Digital(“Dreamer”, “we”), a company registered in South Africa. These terms govern your use of the Dreamer mobile app, this website, and the Dream Account and related services described in the app. By creating an account you agree to them, and to the privacy policy.

2. What Dreamer is, and is not

Dreamer is an execution-only service. It lets you name savings goals (“dreams”), link a bank account so that card purchases can be rounded up, and have the rounded-up change, recurring amounts and once-off boosts invested in funds that you choose from the list offered in the app. Dreamer categorises funds by horizon and shows their published costs and returns. Dreamer does not give financial advice and does not recommend, default or select any fund for you.

Dreamer is not a bank and does not hold your money. Your investments are held with a regulated custodian, in your name, through our licensed investment partner.

3. Eligibility

• You are 18 or older and resident in South Africa for tax purposes.
• You have a South African identity number and can complete identity verification.
• You are opening the account for yourself, with your own money, in your own name.

4. Your account and security

You sign in with a one-time code sent to your phone. You are responsible for keeping your device and phone number secure. Two-step verification applies to any money leaving your account, and withdrawals are paid only to a verified bank account in your own name. Tell us at once at support@dreamer.money if you believe someone else has used your account.

5. Linking a bank account

Round-ups require a linked bank account. The link is made through a licensed open-banking provider, using your bank’s own sign-in, and is read-only: Dreamer can see the transactions on the linked account in order to calculate round-ups; it cannot move money out of it and never sees or stores your bank credentials. You may disconnect a linked account at any time in the app, after which Dreamer stops receiving its transactions.

6. Round-ups, recurring amounts and boosts

• Round-ups.Each card purchase on a linked account is rounded up to the round amount you choose (R2, R5, R10, R20, R50 or R100). You may add a percentage of whole amounts and set a monthly cap. The week’s round-ups are added together and collected once, every Friday, into your Dream Account, subject to a minimum collection of R50. You may pause round-ups at any time.
• Recurring amounts and boosts are paid from a verified card you add in the app, on the schedule or occasion you choose. You may skip, pause or stop a recurring amount at any time.
• Collections and payments are invested in the fund or funds attached to the relevant dream, at the next available price. Unit trust and exchange-traded fund prices change daily; the value of your investment can fall as well as rise.

7. Tax-free Dream Account

A dream may be held in a tax-free savings account. Contributions are limited by law to R46 000 per tax year and R500 000 in a lifetime across all your tax-free accounts, at any provider. Dreamer tracks contributions made through Dreamer and will not knowingly exceed the limits, but you remain responsible for contributions made elsewhere. Contributions over the limit attract a penalty from SARS.

8. Fees

The membership fee is R99 per month for the Dreamer membership, billed to your card, and is waived while your total balance exceeds R150 000. A platform fee of 0.5% per year is charged on invested balances. Each fund charges its own fee, published by its manager and shown in the app before you choose it. There is no fee to withdraw, pause or close your account. All fees are set out on the pricing page.

9. Withdrawals and closing your account

You may withdraw at any time to a verified bank account in your own name. Withdrawals are paid once the underlying units have been sold and usually land within two business days. If you cancel your membership you keep access until the end of the period you have paid for, and your money stays invested until you withdraw it. You may close your account in the app; closing does not reset tax-free contribution history held by SARS.

10. What we need from you

• Accurate information at sign-up and when it changes.
• Not to use Dreamer for anyone else’s money or for any unlawful purpose.
• To keep your app up to date; old versions may stop working when the service changes.

11. Liability

Dreamer will provide the service with reasonable care and skill. We are not liable for the performance of any fund, for losses arising from your choice of fund, or for delays caused by banks, payment providers, fund managers or the custodian acting outside our control. Nothing in these terms limits any right you have under the Consumer Protection Act or the Financial Advisory and Intermediary Services Act that cannot lawfully be limited.

12. Changes and complaints

We may update these terms; the version and date are shown at the top, and material changes will be announced in the app before they take effect. If you have a complaint, write to support@dreamer.money. We will acknowledge it within two business days and tell you how it will be handled.

13. Law

These terms are governed by the law of the Republic of South Africa.