OCBC Terms and Conditions of Balance Transfer Facility

These terms and conditions and any other rules, procedures or instructions which we may from to time issue (the "Terms and Conditions") shall apply to the OCBC Balance Transfer Facility (the "Facility"). By applying for the Facility, you acknowledge that you have read and understood these Terms and Conditions and agree to be bound by them.

All terms and references used in these Terms and Conditions and which are defined or construed in the OCBC Cardmembers Agreement but are not defined or construed in these Terms and Conditions shall have the same meaning and construction in these terms and conditions.

These Terms and Conditions are to be read together with the OCBC Cardmembers Agreement(as amended, modified and supplemented from time to time). In the event of any conflict or inconsistency between these terms and conditions and the OCBC Cardmembers Agreement, these terms and conditions shall prevailin so far as they relate to the Facility.

1.         DEFINITIONS

When you read these Terms and Conditions, bear in mind that "you" and "your" means the person who has applied and been granted the Facility by us. The words "we", "our" and "us" refers to Oversea-Chinese Banking Corporation Limited and its successors and assigns.

2.         ELIGIBILITY

The Facility is open to any principal cardmember of a VISA or MasterCard Credit Card issued by us whose Card Account is in good standing as determined by us.

3.         APPLICATION FOR TRANSFER

3.1        You may apply for a transfer (the "Balance Transfer") of the outstanding balance(s) in Singapore dollars (the “Applied Balance Transfer Amount”), subject to a minimum amount specified by us, under any of your credit card/credit line account(s) (the “Other Card/Credit Line Account(s)”) held with any bank or financial institutions in Singapore, other than with us, to the Balance Transfer Account (as defined below).

3.2        You may also apply for a Balance Transfer of the Balance Transfer Amount (as defined below) from the Balance Transfer Account to a bank account that you maintain with any bank or financial institutions in Singapore acceptable to us. Such Balance Transfer shall only be permitted from time to time as determined by us.

3.3        A Balance Transfer can only be made to a receiving account denominated in Singapore dollars.

3.4        We reserve the right to reject an application for a Balance Transfer in its entirety and/or approve only part of an Applied Balance Transfer Amount (such approved amount shall be referred to as the "Balance Transfer Amount") at our absolute discretion and without assigning any reason therefor.

3.5        All Balance Transfer applications shall be irrevocable on and after the date of the relevant approval letter issued by us (the "Approval Letter").

4.         BALANCE TRANSFER ACCOUNT

4.1        We may, on our approval of each Balance Transfer application, open an account in your name (the "Balance Transfer Account") and charge and debit the Balance Transfer Amount to/from such Balance Transfer Account on the date of the Approval Letter or such later date as determined by us.

4.2        In respect of each Balance Transfer, we shall charge and debit the relevant Balance Transfer Account an interest or finance charge calculated:

a.         during the promotional tenure (the "Tenure") specified in the application for such Balance Transfer, at the applicable annual interest rate at the time of such transfer as stated in its application or any other rate determined by us from time to time at our sole discretion (the "Promotional Balance Transfer Rate"); and

b.         after the Tenure, at the prescribed rate applicable to your Card Account(s),

on a daily basis on such outstanding Balance Transfer Amount from the date such Balance Transfer is charged and debited to/from such Balance Transfer Account until the date of payment thereof is made in full.

4.3        You shall be fully liable to us for any and all amounts charged to and/or debited from your Balance Transfer Account(s).

4.4        For the avoidance of doubt, the Promotional Balance Transfer Rate is not applicable to any existing or subsequent charge(s) in relation to Card Transaction(s) incurred or posted to your Card Account. OCBC$ under the OCBC Rewards Programme,  Robinsons$ under the Robinsons Rewards Programme, NTUC Linkpoints under the NTUC Loyalty Rewards Programme and any other loyalty or reward points under any other loyalty or reward programmes will not be awarded for Balance Transfers.

5.         LIABILITY TO MAKE PAYMENTS

5.1        If approved, the Balance Transfer Amount shall be credited directly into the account stated in the Balance Transfer application form maintained by you.

5.2        You shall continue to make payments on any Other Card/Credit Line Account(s) for which you have made a Balance Transfer application until the relevant Card /Credit Line is successfully credited. We shall not be liable for any overdue payment or interest or any other fees costs expenses whatsoever and howsoever incurred on such Other Card/Credit Line Acount(s).

6.         TREATMENT OF BALANCE TRANSFER AMOUNT

Each Balance Transfer Amount charged to and debited from any Balance Transfer Account(s) will be treated in the same manner as a charge arising from a Card Transaction in respect of a Card Account under the OCBC Cardmembers Agreement and will be reflected in your monthly statement issued by us for your Balance Transfer Account(s) and payable by you in accordance with the terms of the OCBC Cardmembers Agreement and these Terms and Conditions.

7.         REDUCTION OF CREDIT LIMIT OF CARD ACCOUNT

The Credit Limit of your Card Account shall be reduced by an amount equivalent to the total outstanding Balance Transfers in your Balance Transfer Account(s) from time to time. Notwithstanding the foregoing, you shall pay us on demand the amount, if any, by which the aggregate of the outstanding balance on your Card Account and the total outstanding Balance Transfers exceeds the Credit Limit of your Card Account.

8.         FEES

A non-refundable processing fee on the Balance Transfer Amount at a rate as determined by the Bank at its discretion will be charged to and debited from the Balance Transfer Account (regardless whether the Facility is terminated at any time by you or us) for each successful Balance Transfer.

9.         TERMINATION

Notwithstanding anything in these Terms and Conditions, we reserve the right to terminate the Facilityand any Balance Transfer Account(s) without prior notice and without assigning reason therefor and you shall forthwith on demand repay all monies owing under the affected Balance Transfer Account(s).

10.        VARIATION OF INTEREST RATES

We may vary the interest rate chargeable and the basis of calculation of interest at any time in our sole discretion without any notice and without giving any reason therefor.

11.        AMENDMENTS

11.1      We may at any time at our absolute discretion and upon written notice to you, change any one or more of these Terms and Conditions. Such change(s) shall take effect from the date stated in the notice, which in most instances, shall be no less than 30 days from the date of the notice.

11.2      If you do not accept such change(s), you shall forthwith repay to us all monies owing under your Balance Transfer Account(s). Where you continue to participate in the Facility or if any Balance Transfer remains outstanding after such notification, you shall be deemed to have agreed with and accepted such change(s).

As of 24 February 2006                                                                                               

Co.Reg.No:193200032W