Terms and Conditions
Askari Bank Limited offers fast track “Balance Transfer Facility (BTF)” by which cardholder can pay other bank’s Credit Card outstanding balance through Askari Credit Card and pay back in equal monthly instalments (EMI) or without installment plan.
Definitions
Certain words and expressions used in these Terms and Conditions have particular meanings as follows:
- Balance Transfer Facility (BTF) means the services offered to the Askari MasterCard Credit Card customers to pay his/her other bank’s credit card outstanding balance from Askari MasterCard Credit Card and further convert the balance transferred amount into Extended Payment Plan (EPP).
- Extended Payment Plan (EPP) is the service offered by Askari Bank to its Askari MasterCard Credit Card customers by which credit cardholders will be able to pay Total Balance Transferred Amount in small equal parts for a fixed period agreed by the customer.
- Credit Card Terms and Conditions means the terms and conditions agreed to by the customer to obtain the Bank’s card.
Terms & Conditions
The following terms & conditions will be applicable on all transactions of BTF in addition to other applicable terms & conditions of credit cards.
- The basic/primary Askari MasterCard card member will be able to utilize the BTF from time to time by calling Askari Bank’s 24/7 Voice & Virtual centre at “111 000 787” subject to the Bank’s approval.
- The customer may also make a written request for BTF at the time of submitting the Askari MasterCard credit card application along with the last statement of his/her other bank’s credit card.
- The mark-up will be applicable as per the prevailing schedule of charges.
- Upon approval of BTF instruction of the customer to make payment to third party (i.e. another bank). Bank will, on a best-effort basis, make payment by way of issuance of a Pay Order/ Demand Draft (Instrument) in favour of third party (i.e. other bank).
- The Bank does not undertake any liability whatsoever beyond dropping the Instrument to the drop box/ delivering the instrument to the third party (i.e. other bank). This condition applies only to the customers who have been already issued a Askari MasterCard credit card from the bank.
- The Bank has the right to verify such information as given by the customer. The Bank reserves the right to accept or reject any such request without assigning any reason.
- BTF charges, as the bank may specify from time to time through the Schedule of Bank Charges, payable by the card member in relation to BTF.
- The charges on the BTF amount will accrue from the date of transfer of said BTF amount to third party (i.e. other bank).
- BTF is offered exclusively to the Askari MasterCard credit card member subject to the condition that payments against his/her card are in good standing and has an available credit limit on the card account.
- At any time, if making payment of BTF amount results in exceeding of the credit limit, the Bank will not be obliged to pay the BTF amount.
- The Bank does not undertake any responsibility whatsoever for non-payment of any BTF amount, and/or any resulting charges/mark-up/losses or any other liability as a result of such non-payment to the third party (i.e. other bank).
- Askari Bank will only be liable to pay the outstanding bill of customer with other bank, upto 90% of the available limit of the Askari Credit Card.
- Customer is liable to pay any charges of other bank accrued during processing of BTF instruction, at his/her own source.
- The Bank may, as deem necessary from time to time, revise /change any of these Terms and Conditions including, without limitation, the charges levied in respect of the BTF. Such changes will be effective from the date specified by the bank, for such modification.
- The bank reserves the right to vary:
- The frequency and manner of the use of the BTF,
- Operating hours and other facilities and services available at any point in time through the use of BTF suspend BTF discontinue BTF at any time.
- The customer shall not have any claim of any kind against the bank on the basis of/or arising out of/or relating to any of the instructions given and the bank and its relevant officers and employees shall not be liable for any action undertaken pursuant to the instructions issued by the Customer.
- If customer is applying for a new Askari MasterCard credit card along with BTF instruction, the request can only be processed subject to the approval of limit and activation of the Credit Card.
- These BTF terms & conditions herein shall be without prejudice and in addition to the Askari MasterCard credit card terms & conditions governing the issuance and use of the card and shall apply to BTF transactions.
Indemnity
- The customer shall indemnify the bank, bank’s employees and bank’s nominees or agents promptly and on a full indemnity basis from/ against all actions, omissions, negligence, proceedings, claims, demands, damages, losses (including direct, indirect or consequential losses), costs and expenses including all duties, taxes, or other levies and legal costs as between a lawyer and client (on a full indemnity basis) and other liabilities which the bank may incur or suffer from or because of the customer use of the BTF.
- The customer must compensate the bank for whatsoever loss the bank suffers as a result of the customer violating any of the terms and conditions stated in these Terms and Conditions.
- The BTF amount shall form part of the balance of the customer’s Askari MasterCard credit card account and the payments of the BTF amount and any charges by the customer shall be made in the same manner as the payments of the balance on the customer’s card account.
Balance Transfer Facility – Terms & Conditions (Urdu)
