Great Wall Renminbi Credit Card User Circular

BOC Credit Card (International) Limited

BOC Great Wall Renminbi Credit Card User Circular

To safeguard the credit card/personal identification number (PIN):

(i)	The Cardholder shall destroy the original printed copy of the PIN immediately after memorising the PIN and shall keep it in secrecy. Do not write down the PIN on the credit card or anything usually kept with or near it. Do not write down or record the PIN without disguising it. Do not change the PIN to an easily deducible 6-digit number, like identity card number, telephone number and others. Do not disclose the PIN to any person.
(ii)	The credit card and the PIN shall only and exclusively be used by the Cardholder and are not transferable. Immediately upon receipt of a new card, the Cardholder shall sign the card on the space provided and if so required by the Company activate the card by acknowledging receipt of it or by other means according to the instructions of the Company. Do not scratch the card or place it anywhere near magnetic field which may impair the effectiveness of the magnetic strip.
(iii)	The Cardholder shall use the credit card in accordance with the procedures, instructions and/or security guidelines from time to time issued by the Company.

The Cardholder shall be entitled to request the Company not to issue a PIN.

The credit card is denominated in RMB and is only valid for use by the Cardholder within Mainland China for purchase of goods and/or services and/or cash advances transacted in RMB. Cash advance may be effected by the Cardholder through the applicable automatic teller machines designated by the Company within Mainland China (ATM).

The Cardholder shall observe the credit limit of the credit facilities imposed by the Company from time to time when using the credit card for payments and cash advances. Cash advance effected by the Cardholder is further subject to the daily limit and the monthly limit imposed by the Company (whichever is lower). The daily limit for cash advance of a credit card is RMB2,000. The monthly limit for cash advance of a credit card is 25% of the maximum credit limit of that credit card.

Subject to the provisions of the credit card user agreement, the Cardholder shall be entitled to obtain cash advance through ATM. The use of any ATM service is subject to the terms and conditions governing such use as stipulated by the relevant ATM facility provider(s) (including the "ATM Services Terms and Conditions" of the Company).

In the event of loss or theft of the credit card / PIN, the Cardholder shall report such loss or theft to the Company immediately upon discovery of the same through the 24-hour hotline number (852)2544-2222 and to the police, which report shall then be confirmed in writing within 24 hours or such other period as the Company may prescribe from time to time, the receipt thereof to be acknowledged by the Company, and/or to complete such other procedures as may be prescribed by the Company from time to time.

The Cardholder shall report to the Company any unauthorized and erroneous transactions appearing on the Statement within 60 days from the date of the Statement, failing which, the Company shall be entitled to treat the transactions stated in the Statement as true and correct in all respects.

The Company shall use reasonable endeavours, except in circumstances which are beyond its control, to complete the investigation within 90 days upon receipt of notice of an unauthorized transaction from the Cardholder.

Subject to Clause 6 above and provided that the Cardholder has acted in good faith and with due care (including without limitation taking the precautions under Clause 1 and reporting loss, theft and/or unauthorized use of the Card in accordance with Clause 6), the liability of the Cardholder for loss, theft or unauthorized use of the Card shall not exceed the maximum from time to time prescribed by the applicable law or regulatory directive.

10.

Where Additional Card(s) is/are issued, a Main Cardholder shall (jointly and severally with the Additional Cardholders) be liable to the Company for any and all transactions effected and/or liabilities incurred by the Additional Cardholders and/or through use of the Additional Cards whereas an Additional Cardholder shall be liable only for the transactions effected and/or the liabilities incurred by such Additional Cardholder through the use of his/her Additional Card.

11.

The Cardholder shall not be liable for any loss incurred:

(i)	in the event of misuse when the credit card has not been received by the Cardholder;
(ii)	in respect of transactions which do not involve fraud or gross negligence on the part of the Cardholder and are made after the Cardholder has reported to the Company immediately upon discovery of the loss or theft of his/her credit card;
(iii)	when transactions are made through the use of a counterfeit credit card;
(iv)	when faults have occurred in the terminals, or other systems used, which cause the Cardholder to suffer direct pecuniary loss unless the fault was obvious or advised by a message or notice on display.

12.

The Cardholder shall be liable for all losses if he/she has acted fraudulently or with gross negligence or fails to observe the provisions of Clause 1 above or such other requirements as may be stipulated by the Company from time to time in safeguarding the credit card and the PIN or if the unauthorized use of the credit card involves the use of the his/her PIN with or without his/her knowledge. The Cardholder shall also indemnify the Company in full in respect of any expenses and losses suffered or incurred by the Company in relation thereto.

13.

Where the Cardholder reports any unauthorized transactions to the Company before the Due Date and duly completes the customers' complaints form, the Cardholder shall be entitled to withhold payment of the disputed amount during the investigation period. Should the investigation results show that the report made by the Cardholder is unfounded or the Cardholder is in breach of the terms and conditions of the user agreement governing the use of the credit card, then the Cardholder shall be liable for the amounts of the relevant transactions and all finance charges and the relevant interest arising therefrom over the period commencing from the date of transaction (including the investigation period).

14.

The basis for determining the interest, late charge and cash advance handling fee of BOC Great Wall Renminbi credit card are as follows:

(i)	Interest:
	(a)	Interest at the prevailing rate will be charged on the amount of cash advance effected by the use of the credit card on a daily basis from the withdrawal date to the date of payment.
	(b)	Interest will be charged on the amount of purchase of goods and/or services effected by the use of the credit card if payment of such amount is received by the Company after the Due Date. Interest will then be charged at the prevailing interest rate on the unpaid balance on a daily basis from the posting date of the transaction to the date of payment.
	(c)	All interest charged shall be accrued to the Outstanding Balance and debited to the account of the Cardholder.
	(d)	The Cardholder will be entitled to an interest-free period of 20 days from the date of the Statement in respect of the portion of the Outstanding Balance excluding the cash advance transaction amounts if payment for the whole of such portion is made on or before the Due Date. Otherwise, interest will be charged on the unpaid balance of such portion from the respective posting dates of the transactions until payment is made in full thereof.
(ii)	Late Charge: If no payment or payment of less than the Minimum Payment is made on or before the Due Date, a late charge of 5% of the Minimum Payment will be payable in addition to any interest payable under (i) above.
(iii)	The Method of Applying Exchange Rates to Transactions in Foreign Currencies: All transactions effected in currencies other than RMB shall be converted into RMB at a rate determined by the Company on the date when the transactions are processed before they are debited to the account of the Cardholder.
(iv)	Handling Fees for Cash Advance (apart from interest payable in accordance with (i) above):
	(a)	Over the counter:
		No cash advance in Shenzhen is allowed. For each cash advance made outside Shenzhen, a handling fee at the rate of 1% of the advanced amount will be charged.
	(b)	Through ATM:
		For each cash advance made in Shenzhen, no handling fee will be charged. For each cash advance made outside Shenzhen but within the Guangdong Province, a handling fee of RMB5 will be charged. For each cash advance made outside the Guangdong Province, a handling fee of RMB10 will be charged.

15.

All payment shall be made in RMB at locations in Mainland China prescribed by the Company or, at the option of the Cardholder, in Hong Kong dollars at locations in Hong Kong prescribed by the Company. However, the Company may (at its discretion) accept payment in currencies other than RMB and Hong Kong dollars.

16.

Various charges of the credit card issued by the Company:

Details of the applicable charges are printed on the Statement and/or the applicable fees schedule issued by the Company.

17.

If after the all outstanding charges and claims are settled there exists any credit balance in the credit card account, Cardholder may withdraw the whole or a part of the credit balance in RMB at locations in Mainland China from time to time prescribed by the Company.

Credit balance can be withdrawn from the credit card account in Hong Kong dollars at locations in Hong Kong from time to time prescribed by the Company only when the account is terminated and after all outstanding charges and claims are settled. Such withdrawal shall be subject to the maximum amount in RMB which a person is allowed to remove out of Mainland China in cash on any single occasion as prescribed the laws and regulations of the PRC on foreign exchange control (Maximum Limit).

If the credit balance does not exceed the Maximum Limit, the Cardholder may elect to collect the entire credit balance in Hong Kong dollars at locations in Hong Kong from time to time prescribed by the Company.

If the credit balance exceeds the Maximum Limit, the Cardholder may collect a portion of the credit balance which is within the Maximum Limit in Hong Kong dollars at locations in Hong Kong prescribed by the Company whilst the balance shall only be collected at locations in Mainland China.

18.

Where a Cardholder refuses to accept the amendments to the terms and conditions stipulated by the Company and chooses to terminate the relevant card service, the Company may (in its discretion) refund the paid annual fee on a monthly pro-rata basis to the Cardholder if the fees can be separately distinguished and the amount involved is not minimal. If transactions are made in the month subsequent to the Company's receipt of the notice of refusal to accept the relevant amendments from the Cardholder, then the annual fee attributable to that month will not be refunded to the Cardholder.

19.

The Company's right of set-off:

(i)	Where the Cardholder maintains one or more accounts with any bank, the Cardholder authorizes the Company at any time to instruct or request such bank to deduct from the Cardholder's account(s) and repay the Company any amount due from the Cardholder to the Company.
(ii)	Where Additional Card(s) is/are issued, the Company may:
	(a)	use any credit balance in any account of the Main Cardholder to repay any amount due from any and all Additional Cardholders to the Company;
	(b)	only use any credit balance in any account of an Additional Cardholder to repay any amount due from such Additional Cardholder to the Company (but not those of the Main Cardholder or other Additional Cardholders).
(iii)	An Additional Cardholder may (at his/her option) settle the amounts due to the Company from the Main Cardholder and/or other Additional Cardholders. Any payment made by an Additional Cardholder in excess of the amounts due from him/her to the Company shall be irrevocably deemed to be voluntary payment to settle (in whole or in part) the amounts due from the Main Cardholder and other Additional Cardholders.

20.

In the event that the Company engages any debt collection agencies to collect the entire or part of the amount due from the Cardholder, the Cardholder shall be liable to pay all reasonable costs and expenses of the debt collection agencies. In normal circumstances, the total collection costs should not exceed 30% of the aggregate outstanding amount due to the Company by the Cardholder.

21.

In the event that the Company appoints lawyers to collect the entire or part of the amount due from the Cardholder, the Cardholder shall be liable for all reasonable costs and expenses arising therefrom.

22.

Complaint procedures against merchants:

In the event that any Cardholder is being unfairly treated by the merchants when using the credit card, such Cardholder should record the details of the relevant merchant and the incident and inform the Company by telephone or in writing. The Cardholder should provide the Company with the credit card number and contact telephone number of such Cardholder to enable the Company to maintain record contact the Cardholder and follow up with respect to such complaints.

23.

Complaint procedures against the Company:

In the event that any Cardholder wishes to express any opinion on the operating procedures or any staff of the Company, such Cardholder should record the details of the relevant information and inform the Company by telephone or in writing. The Cardholder should provide the Company with the credit card number and contact telephone number of such Cardholder to enable the Company to maintain record contact the Cardholder and follow up with respect to such complaints.

24.

The terms and conditions governing the use of the credit card and the relevant schedule of the charges payable in connection with the use of the credit card and this Circular may be revised by the Company at any time and from time to time. Copies of the current version of these documents are available at the principal place of business of the Company or on the Company's web site at www.boci.com.hk.

25.

This Circular is written in both English and Chinese. In case of conflict or deviation in interpretation, the English version shall prevail. In the event of any inconsistency between the terms and conditions stated herein and the credit card user agreement, the user agreement shall prevail

In this Circular:

'Additional Card' means the credit card from time to time issued by the Company to an Additional Cardholder nominated by the Main Cardholder and at the joint requests of such Additional Cardholder and the Main Cardholder;

'Additional Cardholder' means a person to whom and in whose name an Additional Card is issued;

'Cardholder' means a person to whom and in whose name a BOC Great Wall Renminbi credit card is issued by the Company (including Main Cardholder and any Additional Cardholders (if applicable));

'Company' means BOC Credit Card (International) Limited;

'Due Date' means the date on which the Outstanding Balance is due and payable by the Cardholder to the Company as specified in the Statement;

'Main Card' means a VISA credit card / MasterCard credit card issued by the Company to a Main Cardholder to which one or more Additional Cards are issued thereto;

'Main Cardholder' means any person to whom and in whose name a Main Card is issued;

'Mainland China' means any part of the PRC, other than Hong Kong, Macau and Taiwan;

'Minimum Payment' means such minimum payment required to be made by the Cardholder in respect of the Outstanding Balance on or before the Due Date;

'Outstanding Balance' means the total amount of the outstanding balance due from the Cardholder to the Company in respect of all the transactions effected through and debited to the credit card account as at the last day of the statement period specified in the Statement;

'PRC' means the People's Republic of China;

'RMB' means Renminbi Yuan, the lawful currency of the PRC; and

'Statement' means a monthly or other periodic statement of account sent to the Cardholder by the Company.