Common use of Cash Advance Clause in Contracts

Cash Advance. The Cardholder may obtain Cash Advances up to a maximum of 50% of the Credit Limit subject to availability of adequate credit and as may be acceptable to the Bank from time to time at its absolute discretion by the following means; (i) Use of the Card at any ATM of the Bank or of any other bank or institution with whom the Bank has an Agreement for the use of the ATM of the said bank or institution in which case the amount of each advance will be further subject to the applicable daily withdrawal limit of the ATM. (ii) The customer will be responsible to generate a PIN by calling the Bank’s Contact Centre, to be used in conjunction with the Card when effecting a transaction at an ATM. The cardholder may under no circumstances whatsoever disclose the PIN to any other person. (iii) The Bank's record of any transaction effected in conjunction with a PIN shall be binding on the Cardholder as to its consequence. (iv) The use of the Card by the Cardholder to obtain a Cash Advance shall be deemed to constitute the Agreement of the Cardholder to pay a cash advance fee and finance charge as determined by the bank from time to time on the amount of cash advance. Finance Charge shall be levied on each Cash Advance from the date of the advance until repayment in full. The Bank may from time to time, vary the amount of cash advance fee and finance charge payable by the Cardholder.