Common use of Card Statement and How to make payments Clause in Contracts

Card Statement and How to make payments. 4.1 Using the Card Statement (a) The Bank shall send a Card Statement to the Cardholder’s last known address from the Bank’s records and the Card Statement shall be deemed to have been received by the Cardholder within seven (7) business days after mailing. In the event the Cardholder opts to receive the Card Statement in the form of the Bank’s electronic statement (“e-Statement”), the Card Statement will be sent to the Cardholder’s last email address registered with the Bank within four (4) business days from the Card Statement Date and shall be deemed to have been received by the Cardholder. Upon receipt of the Card Statement, the Cardholder is deemed to have examined all entries in the statement. (b) Notwithstanding paragraph (a) above, the Bank may exercise its discretion not to send out any Card Statement if: i. there is no outstanding amount payable to the Bank and/or there are no transactions in that particular month; ii. the Card Statement sent to the Cardholder’s last known address is returned to the Bank for three (3) consecutive months; and/or iii. in the event of non-receipt of payment to the Card Account that leads to Card cancellation. (c) The Cardholder must report in writing to the Bank of any error in the Card Statement within fourteen (14) days from the date of receipt or the Card Statement is deemed to have been received. If the Bank does not receive a written notification from the Cardholder within the aforesaid fourteen (14) days of any error in the Card Statement, then the Cardholder shall be deemed to have accepted the entries in the statement made up to the date of the last entry in the statement as correct and as final and conclusive evidence of the facts contained in the statement. (d) The Card Statement will be considered conclusive and binding as against the Cardholder/ Cardholder’s legal representatives/successors and the Cardholder shall therefore be precluded from making any claim against the Bank by alleging that the Card Statement contains any error. For the avoidance of doubt, proof of sending of a written notification to the Bank is not proof of receipt by the Bank of your written notification if the Bank has not received the Cardholder’s written notification. 4.2 Making payment (a) Upon receipt of the Card Statement, the Cardholder is to pay the outstanding balance or the Minimum Monthly Payment to the Card Account on or before the Payment Due Date as stated in the Card Statement. (b) If the Cardholder fails to make payment in accordance with Clause 4.2 (a) above, the Bank is entitled to charge the Cardholder and the Cardholder shall be liable to pay the relevant charges as prescribed under Clause 5 of this Agreement. (c) If the Cardholder has more than one Card issued on the Card Account, the Cardholder is required to make payment to each respective Card. Where there is a Supplementary Card, payment will need to be made separately for each Principal Card and Supplementary Card number in accordance to the Card number and amount payable for each Card. Late payment charges will be imposed on the Card with any unpaid outstanding amount. (d) All payments to the Card Account shall and must be made in Malaysian Ringgit (MYR). Any payment by or from the Cardholder shall not be considered to have been made until all the relevant payments have been received for value by the Bank. For any payment made through outstation cheques, the payment shall include the relevant bank commission (where applicable). The Bank is entitled to debit the Card Account on the commission amount should the Cardholder fail to include it in the payment. (e) Payments made by the Cardholder to the Card Account will be used to pay off Card Service Tax and any Tax first, followed by Cash Advance, QuickCash, Monthly Instalments and revolving balances(s) attracting the highest Management Fee rate to the lowest Management Fee rate (the order will start from the earliest to the latest transaction date). Payment received will be applied towards settlement of the outstanding Management Fee followed by outstanding principal balance and fees and charges. (f) If the Cardholder has fully settled the preceding month’s outstanding balance before or on its relevant Payment Due Date (as evidenced by the current month’s Card Statement), the Cardholder will enjoy the benefit of the Management Fee Free Period in the current month for new retail transaction posted to the current month’s Card Statement. If the Cardholder opts to pay a partial amount of the outstanding balance or the amount of the Minimum Monthly Payment from the previous Card Statement, Management Fee on retail transaction in the current month will be calculated from the day the transaction is posted to the Card Account. (g) If the Cardholder pays the Bank an amount exceeding the total outstanding balance (“Prepayment”), the Bank shall be entitled to verify the source of the funds of the Prepayment to its satisfaction before applying the Prepayment towards new retail transaction effected by the use of the Card. The Bank may, pending verification of the source of the funds, suspend the use of the Card as provided under Clause 8 and/or decline any transaction attempted through the Card after the Prepayment. (h) Any claims, errors or inaccuracies, if proven or confirmed, shall be adjusted and reflected in the following or subsequent Card Statement accordingly.

Card Statement and How to make payments. 4.1 Using the Card Statement (a) The Bank shall send a Card Statement to the Cardholder’s last known address from the Bank’s records and the Card Statement shall be deemed to have been received by the Cardholder within seven (7) business days after mailing. In the event the Cardholder opts to receive the Card Statement in the form of the Bank’s electronic statement (“e-Statement”), the Card Statement will be sent to the Cardholder’s last email address registered with the Bank within four (4) business days from the Card Statement Date and shall be deemed to have been received by the Cardholder. Upon receipt of the Card Statement, the Cardholder is deemed to have examined all entries in the statement. (b) Notwithstanding paragraph (a) above, the Bank may exercise its discretion not to send out any Card Statement if: i. there is no outstanding amount payable to the Bank and/or there are no transactions in that particular month; ii. the Card Statement sent to the Cardholder’s last known address is returned to the Bank for three (3) consecutive months; and/or iii. in the event of non-receipt of payment to the Card Account that leads to Card cancellation. (c) The Cardholder must report in writing to the Bank of any error in the Card Statement within fourteen (14) days from the date of receipt or the Card Statement is deemed to have been received. If the Bank does not receive a written notification from the Cardholder within the aforesaid fourteen (14) days of any error in the Card Statement, then the Cardholder shall be deemed to have accepted the entries in the statement made up to the date of the last entry in the statement as correct and as final and conclusive evidence of the facts contained in the statement. (d) The Card Statement will be considered conclusive and binding as against the Cardholder/ Cardholder’s legal representatives/successors and the Cardholder shall therefore be precluded from making any claim against the Bank by alleging that the Card Statement contains any error. For the avoidance of doubt, proof of sending of a written notification to the Bank is not proof of receipt by the Bank of your written notification if the Bank has not received the Cardholder’s written notification. 4.2 Making payment (a) Upon receipt of the Card Statement, the Cardholder is to pay the outstanding balance or the Minimum Monthly Payment Due to the Card Account on or before the Payment Due Date as stated in the Card Statement. (b) If the Cardholder fails to make payment in accordance with Clause 4.2 (a) above, the Bank is entitled to charge the Cardholder and the Cardholder shall be liable to pay the relevant charges as prescribed under Clause 5 of this Agreement. (c) If the Cardholder has more than one Card issued on the Card Account, the Cardholder is required to make payment to each respective Card. Where there is a Supplementary Card, payment will need to be made separately for each Principal Card and Supplementary Card number in accordance to the Card number and amount payable for each Card. Late payment charges will be imposed on the Card with any unpaid outstanding amount. (d) All payments to the Card Account shall and must be made in Malaysian Ringgit (MYR). Any payment by or from the Cardholder shall not be considered to have been made until all the relevant payments have been received for value by the Bank. For any payment made through outstation cheques, the payment shall include the relevant bank commission (where applicable). The Bank is entitled to debit the Card Account on the commission amount should the Cardholder fail to include it in the payment. (e) Payments made by the Cardholder to the Card Account will be used to pay off Card Service Tax first and any Tax first, followed by Cash Advance, QuickCash, Monthly Instalments and revolving balances(s) attracting remaining will be used to pay off outstanding amounts that attract the highest Management Fee rate to the lowest Management Fee rate (the order will start from the earliest to the latest transaction date). Payment received will be applied towards settlement of the outstanding Management Fee followed by outstanding principal balance and fees and chargesrate. (f) If the Cardholder has fully settled the preceding month’s outstanding balance before or on its relevant Payment Due Date (as evidenced by the current month’s Card Statement), the Cardholder will enjoy the benefit of the Management Fee Free Period in the current month for new retail transaction posted to the current month’s Card Statement. If the Cardholder opts to pay a partial amount of the outstanding balance or the amount of the Minimum Monthly Payment Due from the previous Card Statement, Management Fee management fee on retail transaction in the current month will be calculated from the day the transaction is posted to the Card Account. (g) If the Cardholder pays the Bank an amount exceeding the total outstanding balance (“Prepayment”), the Bank shall be entitled to verify the source of the funds of the Prepayment to its satisfaction before applying the Prepayment towards new retail transaction effected by the use of the Card. The Bank may, pending verification of the source of the funds, suspend the use of the Card as provided under Clause 8 and/or decline any transaction attempted through the Card after the Prepayment. (h) Any claims, errors or inaccuracies, if proven or confirmed, shall be adjusted and reflected in the following or subsequent Card Statement accordingly.