CREDIT CARD TERMS AND CONDITIONS

1. The Credit Cards

Contents
Issue of credit cards
1. The Credit Cards
1.1 The bank will issue a credit card to you
2. Credit Limit
and if you request, a card will also be
3. Interest, Fees, and Charges
issued to a supplementary cardholder.
4. Liability
5. Payments Collection
6. Cancellation and termination
1.2 The bank will send the credit card to your
7. Payment Protection
last known address, unless the bank be
notified that the card will be collected
from the bank.
NOTICE
You need to read this document and accept the Using the credit card
terms and conditions hereto. This sets out the
1.3 The terms and condition of the banking
specific terms and conditions on which we agree to
agreement between the cardholder and
provide you with the credit card issued. You must
the bank will apply to each use of a credit
read it in conjunction with our customer terms. To
card. If the cardholder does not agree
the extent of any inconsistency between the terms
with any of the terms he/she should not
set hereunder our customer terms, these terms
sign the credit card or carry out a
prevail.
transaction.
1.4 The cardholder automatically accepts the terms
of the banking agreement upon the first usage of
the credit card
1.5 Cardholder named must ensure that he/she’s
the only one using the credit card. Any
supplement card issued for other legible person
shall be used at the cardholder’s sole liability,
and will be deemed, as used by the cardholder
personally.
2. Credit Limit
2.1 The bank will notify the cardholder of the limit
once the application has been approved.
2.2 The credit limit is the overall limit that applies to
all credit card issued.
2.3 The credit limit is also dependant on the
prevailing local regulations.
EXCEEDING CREDIT LIMIT
2.4 It is the cardholder’s responsibility to not exceed
beyond the credit limit
2.5 if the cardholder exceeds the credit limit, the
cardholder must immediately pay the part of the
balance owing for the account of the credit card
which will exceed the credit limit in addition to
any payment the bank requires.
3. Interest, Fees, and Charges
3.1 Interest, fees, and charges (including finance
charges, cash advance charges, cash advance
fees, over limit fees, annual fees, and
administrative fees) are all set out in the service
and price guide.
3.2 Unless otherwise specified, interest is calculated
on the basis of a 360 day year and compounded
on monthly basis or such other basis that the
bank will choose.
3.3 Interest is charged until the date of the balance
owing is paid in full.
3.4 The cardholder must pay all costs such as debt
collection fees incurred in connection with the
credit card on demand.
4. Liability
4.1 The cardholder will be liable for:
• any failure by the cardholder to comply with
the terms of this banking agreement;
• all transactions made using a credit card
(except for disputed transactions);
• the balance owing for the account for a credit
card (including all amounts debited and credited
to the account for the credit card by any
supplementary cardholder); and
 • any transactions where the bank could
otherwise have exercised chargeback rights if
cardholder does not notify the bank of the
transactions and provide any further documents
or information we require within the time
periods required.
5. Payments
PAYMENTS BY DUE DATE
5.1 On or before the due date set out in the
statement issued for the credit card, cardholder
must pay at least the minimum payment due as set
out in the statement.
5.2 Cardholder’s liability to us remains even if, for
any reason, cardholder do not receive his/her
periodic statement.
5.3 If an amount is due on a day which is not a
banking day, cardholder must pay it on the next
banking day.
WHAT HAPPENS IF YOU DO NOT PAY
5.4 If we do not receive the balance owing for the
account for a credit card on or before the due date
we may charge and debit from the account for a
credit card finance charges as set out in the Service
& price Guide or elsewhere in the banking
agreement.
5.5 If the bank does not receive the minimum
payment on or before the due date, then:
• Cardholder must pay a late payment charge as set
out in the Service & price Guide or elsewhere in the
banking agreement;
•Cardholder must not use the credit card until the
minimum payment has been paid; and
• The bank may suspend the use of the credit card
upon non payment.
Statement of Account
5.6 If the cardholder thinks there is an error on
his/her statement, notification in writing with
details of the error within 30 days after the date of
the statement must be sent to the bank. Failure to
do so, the bank will treat the statement as correct
6. Cancellation and termination
How to terminate
6.1 At any time the bank may choose to:
• cancel or suspend cardholder’s right to use the credit
card or end the account for a credit card;
• refuse to authorise any transaction for which
cardholder wants to use the credit card; and
 • refuse to re-issue, renew or replace the credit card,
without giving any notice or reason.

6.2 At any time, cardholder may end the account for a

credit card by notifying the bank in writing.

What happens if the account is terminated

6.3 If the account for a credit card has been terminated,
card holder must:

• cut the credit card in half; and

• immediately pay the balance owing for the account for

the credit card together with any other amounts owing in
connection with credit card transactions which have been
made before termination but which have not actually
been debited to the account for the credit card.

Form of Acknowledgment

I/We agree to the above

Name:

Title:

Signature:

Date:

Company seal (if applicable)