Credit Limit
- The covering letter accompanying the card, as well as the statement will show the initial credit limit assigned to the Cardholder by the bank, which must be strictly observed. The Cardholder may apply for an enhancement of his/her credit limit of the Credit Card associated with an account at any time after 6 months usage.
Card Account
- The bank may debit the card account with the amounts of all card transactions, enrolment charges, interest and any other liabilities of the Cardholder and any loss incurred arising from the use of the card.
Using the Card Internationally
- The card is valid for International Transactions at service establishments and if its usage exceeds the entitlements as per the guidelines of the CBSL, then the Cardholder undertakes to obtain the requisite permission from CBSL by complying with CBSL requirements. However, under no circumstances should payment of the statement be delayed or refused on the grounds of excess withdrawals.
Cash Advances
- Cash withdrawal is restricted to 50% of the credit limit and should not exceeded under any circumstances.
Cardholder Relocating Overseas
- A Cardholder migrating and/ or proceeding aboard on permanent basis, or who is deemed “non-resident” as per the exchange control regulations in force at that time must inform the bank in writing, and must settle all billed and unbilled charges and must also surrender the basic card and any supplementary cards to the bank.
PIN
- Cardholder can withdraw cash from ATM’s by using Card in combination with the PIN. Some merchant outlets in overseas require PIN to complete the transaction.
Loss / Stolen Cards
- If the card is lost or stolen, the cardholder must immediately inform the Call Centre via 1975. He/she has to file a report with the local police where loss/theft occurred. The cardholder is liable to pay for the debts/pending debts to the card account resulting from unauthorized transactions until the BOC card centre is duly informed by the card holder.
- The bank will be under no obligations to issue a replacement card to the cardholder following its loss or theft. Any replacement card will be subject to a handling fee which will be debited to the card account at a rate determined by the bank and shall be issued at discretion of the bank on the same terms and conditions as bank deems fit as the original card and under a different card number.
Termination
The cardholder may terminate the agreement by written notice to the bank. But such termination shall only be effective on the return and of all the cards issued and payment of all liabilities of the cardholder to the bank.
The bank may terminate the agreement at any time by cancelling or refusing to renew the card with or without prior notice and with or without cause. Unless and until such termination takes place the bank may provide a new card (renewal card) to the cardholder from time to time.
Other
- The bank shall be entitled to receive and share credit information concerning the card holder with any credit reporting agency and/or credit bureau and any person, corporation or merchant with whom the card holder proposes to have financial relations.
- Once cardholder received the PIN, it is cardholder’s property. Therefore, cardholder should take every precaution to ensure that the number is secured and not compromised in any manner. Don’t carry the PIN in cardholder’s wallet or purse and don’t write it on the credit card. Memorize the PIN. Never write it down.
- Take Cardholder receipt after completing a transaction. Reconcile all receipts with bank statement as soon as possible.
- Cardholder will be liable to pay to the bank all amounts so debited whether or not a sale or cash advance voucher is signed by Cardholder.
- Any payment to the bank will only take effect when received and credited to the card account. Cardholder should ensure that funds are available to meet any cheque given to the bank in respect of the Cardholder’s obligations.
- The card account will only be credited with a refund in respect of a card transaction if the bank receives a refund verification acceptable to it. Cardholder shall be bound to bring all discrepancies or disclaimers in respect of card transactions to the notice of the bank not later than two weeks after the issue of the monthly statement by the bank.
- The loss or theft of the card, Pin and/or the card verification number should be reported immediately upon discovery of loss/theft by telephone, email, fax or telex to the BOC Card Centre.
- The card should not be used for any illegal or unlawful purpose.
- The bank may issue an additional card for use by any person nominated by Cardholder as an authorized user of the card account. Cardholders are liable for all amounts arising from or losses incurred by the bank in connection with the use of the card by the authorized user and which amounts shall be debited to the card account.
- Cardholder should immediately notify the BOC Card Centre in writing of any change of name or address.
- When travelling aboard, always keep the Card Centre informed of the dates and the countries of visit, if the Cardholder intends to use the Credit Card overseas.
- Bank shall not encourage/induce the customers to use Credit Cards to acquire land or any other property, payment of monthly installments of any property acquired by the customer or any third party, and/or any capital account transaction specified in the Exchange Control Act, Regulations, Directions or Guidelines issued by the relevant authorities.
- Rules and conditions related to the Credit Card shall be governed by the laws applicable in Sri Lanka and the exclusive jurisdiction of the courts of Sri Lanka.
- 1% surcharge will be applicable for fuel, liquor & cigarettes.
