Clause 46 – Discretion to Handle Credit Balance in Card Account

If the Cardholder has a credit balance in the Card Account, the Cardholder may be able to:

a) keep the credit in the Card Account up to a maximum amount of USD50,000 equivalent in Ringgit Malaysia (RM) or such other amount as may be determined by the regulators in its absolute discretion and notified to the Cardholder from time to time (“Maximum Credit Balance”) and

apply the same towards settlement of charges and/or payments due in respect of the Card Account; or

b) request for a refund.

When the credit balance in the Card Account exceeds the Maximum Credit Balance (“Excess Monies”), the Bank shall refund all monies paid in excess

of the Maximum Credit Balance to the Cardholder no later than sixty (60) days from the date the Excess Monies were paid into the Card Account.

Notwithstanding anything contained herein to the contrary:

i. subject to Clause 23 herein, the Bank shall have the right at its sole and absolute discretion to pay or remit any credit balance in the Card

Account to the Cardholder’s executor or administrator in the event of the Cardholder’s death and the Bank shall have no obligation to enquire

about any beneficial rights of any parties to any such credit balance. Any payment or remittance of any credit balance made by the Bank to the

Cardholder under this Clause shall be deemed to be the full and final discharge of the Bank’s liabilities in relation to such credit balance; and

ii. the Bank may at its sole discretion, decline the refund of monies in the Card Account which is in credit and may require proof on how the Card

Account became in credit to effect the refund. The Cardholder is duty bound to provide all evidence in relation to the Card Account and the

Bank is permitted to validate the evidence to its satisfaction with any party it deems fit and the Bank’s decision shall be final and binding.

Clause 46 – Discretion to Handle Credit Balance in Card Account

a) There should be no credit balance maintained in the Card Account and Cardholders should not pay any amount exceeding the total outstanding balance of the Card Account. 

b) If the Cardholder pays an amount exceeding the total outstanding balance of the Card Account resulting in a credit balance in the Card Account, the Bank will apply the credit balance towards payments in accordance with Clause 19 of this Agreement.

c) If there is still a credit balance in the Card Account (“Excess Monies”), the Excess Monies will be refunded to the Cardholder’s current account or savings account maintained with the Bank or such other bank in Malaysia as instructed by the Cardholder to the Bank (“Nominated CASA”), within fifteen (15) Business Days from the receipt of the Excess Monies.

d) In the event that there are Excess Monies in the Card Account and/or the Cardholder has not provided the Bank with a Nominated CASA , the Bank has the right to do any or all of the following:

i. suspend the use of the Card;

ii. decline any transactions effected using the Card;

iii. decline any further payments into the Card Account; and/or

iv. terminate the Card Account with notice to the Cardholder.

Notwithstanding anything contained herein to the contrary:

a) subject to Clause 23 herein,

i. the Bank shall have the right to pay or remit any credit balance in the Card Account to the Cardholder’s executor or administrator in the event of the Cardholder’s death

ii. the Bank shall have no obligation to enquire about any beneficial rights of any parties to any such credit balance; and

iii. Any payment or remittance of any credit balance made by the Bank to the Cardholder under this Clause shall be deemed to be the full and final discharge of the Bank’s liabilities in relation to such credit balance; and

b) the Bank may decline the refund of the credit balance in the Card Account until and unless the Cardholder is able to explain the credit balance in the Card Account to the Bank with proof to support the Cardholder’s explanation. In connection with this, the Cardholder authorises the Bank to validate the evidence given by the Cardholder to its satisfaction with any party it deems fit and the Bank’s decision shall be final and binding.