Common use of Discretion to handle credit balance in card account Clause in Contracts

Discretion to handle credit balance in card account. We shall be entitled to pay the credit balance (if any) on the card account to the basic cardmember (or to the basic cardmember’s executor(s) or administrator(s) in the event of the basic cardmember’s death) and shall not be obligated to enquire about the beneficial rights to such funds. Without prejudice to the generality of the foregoing and subject to clause 15.2, if the credit balance on the card account is at any time more than S$30,000 (or such other amount as we may from time to time in our discretion determine), we shall be entitled to: (i) transfer all or any part of such credit balance on the card account by way of funds transfer to any of the basic cardmember’s account(s) with us, including banking account(s), provided that if any account(s) that the basic cardmember has an outstanding balance(s), such funds will be applied to set-off such outstanding balance(s) first; or (ii) pay all or any part of such credit balance by such mode as we determine appropriate including by way of cheque or cashier’s order to the basic cardmember.

Discretion to handle credit balance in card account. We shall be entitled to pay the credit balance (if any) on the card account to the basic cardmember (or to the basic cardmember’s executor(s) or administrator(s) in the event of the basic cardmember’s death) and shall not be obligated to enquire about the beneficial rights to such funds. Without prejudice to the generality of the foregoing and subject to clause 15.2, if the credit balance on the card account is at any time more than S$30,000 (or such other amount as we may from time to time in our discretion determinedetermine and notify to you), we shall be entitled to: (i) transfer all or any part of such credit balance on the card account by way of funds transfer to any of the basic cardmember’s account(s) with us, including banking account(s), provided that if any account(s) that the basic cardmember has an outstanding balance(s), such funds will be applied to set-off such outstanding balance(s) first; or (ii) pay all or any part of such credit balance by such mode as we determine appropriate including by way of cheque or cashier’s order to the basic cardmember.