UOB Credit Card Funds Transfer Terms
and Conditions
Please read these Terms and
Conditions carefully. A Principal Cardmember (“Applicant”)
may, subject to the Terms and Conditions herein, apply to transfer the funds
from his/her UOB Credit Card account to his/her bank/credit card/credit line
account(s) held with any bank in Singapore (“Funds Transfer”), under the UOB
Credit Card Funds Transfer promotion (“Promotion”).
1. The Funds Transfer facility shall
only be available to Principal Cardmembers and cannot
be deposited into any account with an overdraft facility held with United Overseas
Bank Limited (the “Bank”).
2. The approved Funds Transfer
amount (“Approved Amount”) is subject to the outstanding balance on the Applicant’s
UOB Credit Card account(s), including amounts transferred, processing fees (if
any) and service fees chargeable (where applicable) provided such amount does
not exceed the available permanent combined credit limit of all the Applicant’s
UOB Credit Card account(s).
3. The Bank may, on its approval of
each Funds Transfer application, open an account in the name of the Applicant and
debit the Approved Amount from this account. The Bank shall not credit the
Approved Amount to any third party account or an account that is denominated in
a currency other than
4. Should the amount that the
Applicant request to transfer together with any processing fee charged (if
any), exceed the available credit limit on his/her UOB Credit Card account(s)
at the time of the application, the Approved Amount to be transferred will be
determined by the Bank at its sole discretion and its decision shall be final
and binding.
5. The promotional interest rate
(“Promotional Interest Rate”) is applicable only to the Approved Amount and not
to existing outstanding balances or amounts subsequently incurred on the
Applicant’s UOB Credit Card account(s). The Promotional Interest Rate is valid
from the date the Bank approves the Funds Transfer request (“Promotion Period”)
and ends when the Approved Amount is fully paid or on the last day of the
promotional tenor, whichever is earlier. Thereafter, the prevailing interest
rate of 24% p.a. shall apply or such other rates as the Bank may stipulate from
time to time at its absolute discretion.
6. This Promotion is set up as a
funds transfer account (“Account”) in the Applicant’s UOB Credit Card account.
All payments received by the Bank shall be applied in any manner or order of
priority at the Bank’s sole discretion notwithstanding any requests of
appropriation by the Applicant or any other
person making such payment on behalf of
the Applicant. The Bank has the absolute right to apply payments received by it
in the following manner:
• All unpaid interest, fees and
charges, outstanding funds transfer balances shown in any previous statement(s)
of account(s).
• All unpaid interest, fees and
charges, outstanding funds transfer balances shown in the current statement of
account(s).
Payments made to the Account in the
Applicant’s UOB Credit Card account(s) will reduce the most recent outstanding
funds transfer amount transferred pursuant to this Promotion (after it has been
reflected in the Applicant’s statement of account) before reducing any other
outstanding funds transfer amount or existing balances or amounts subsequently
incurred.
7. The Bank shall ordinarily require
a minimum of five business days (excluding Saturdays) to process the Funds Transfer
request or such other period as the Bank may determine from time to time at its
sole discretion.
8. The Applicant shall continue to
make payment until his/her selected bank/credit card/credit line account(s) has
been credited. The Bank bears no responsibility for any overdue payment or
interest incurred arising from any delay in the Funds Transfer. In addition,
any charges, fees, interest or losses incurred by the Bank in connection
with the Applicant’s Funds Transfer,
including without limitation, any fees and charges howsoever imposed by the bank
or financial institutions of the Applicant’s other bank/credit card/credit line
account(s) shall be borne solely by the Applicant.
9. The Bank reserves the right to
amend, add or vary any of these Terms and Conditions at any time and from time
to time without giving the Applicant prior notice.
10. The Bank’s decision on all
matters relating to this Promotion and/or the Funds Transfer shall be at the
Bank’s discretion and shall be final and binding on the Applicant.
11. By participating in this
Promotion, the Applicant agrees to be bound by the Terms and Conditions herein.
The existing Terms and Conditions governing the UOB Cardmembers
Agreement (“Credit Card Agreement”) will continue to apply. In the event of any
inconsistency between these Terms and Conditions and the Credit Card
Agreement, these Terms and
Conditions shall prevail. Please refer to uob.com.sg
for the full set of the Credit Card Agreement.
12. Upon any early repayment and/or
Account closure, the Applicant will be liable for the full outstanding amount.
Note: Funds Transfer amounts are not
eligible for