Askari Bank now brings fast track “Balance Transfer Facility” with only 2% mark-up rate per month. You can pay your other bank’s Credit Card debts through “Askari Credit Card Balance Transfer Facility” and pay back in easy equal monthly installments.
The customer will be able to utilize the BTF from time to time by calling Askari Bank’s contact center.
The customer may also make a written request for BTF at the time of new credit card application for BTF. In this case the customer must submit the last statement of his/her other bank’s credit card. The customer must submit this request right after bill generation at other bank.
If the BTF instruction of the customer is accepted, within ten (10) working days of receipt of the written or oral instruction from the customer to the bank to make payment to the third party (i.e. other bank) under the BTF (Instruction), Askari Bank Limited will, on a best effort basis, make payment of the amount stipulated through the Instruction by way of issuance of a Pay Order/Demand Draft (Instrument) to the 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 card from the bank.
The bank is not bound to act upon all BTF requests unless the criteria is fulfilled by the customer. Bank has the right to verify such information as given by the customer. Bank reserves the right to accept or reject any such request without giving any reason.
The customer agrees that the charges on the BTF amount will accrue from the date of transfer of the said BTF amount from the third party (i.e. other bank) to the card account of the customer.
The customer agrees that the BTF can only be availed if the balance of the customer’s card account does not exceed the credit limit notified by the bank. At any time, if making payment of the BTF amount results in exceeding of the credit limit, the bank will not be obliged to pay the BTF amount and will not act upon the customer’s instructions. The customer will not be able to avail BTF exceeding the credit limit. 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. It is the customer’s duty to pay the late payment charges at the other bank, if any. In order to avoid late payment charges, customer must request BTF to Askari Bank right after bill generation at other bank.
The bank may, from time to time and at any time, revise and/or 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 (a) vary the frequency and manner of the use of the BTF, the operating hours and other facilities and the services available at any point of time through the use of BTF (b) suspend BTF (c) 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 that the bank and its relevant officers and employees shall not be liable for any action undertaken pursuant to the instructions issued by the Customer.
These Terms and Conditions are governed by and shall be construed in accordance with the laws of Pakistan.
Where an applicant has applied for the BTF along with the new Credit Card Account application for the first time, his/her request can only be processed subject to the approval of that application and when the customer activates his/her Credit Card.
These BTF Terms and Conditions shall be without prejudice to the Credit Card Terms and Conditions governing the issue of and use of the card and the Credit Card Terms and Conditions shall also be applicable to the BTF.
Certain words and expressions used in these Terms and Conditions have particular meanings as follows:
BTF means the services offered to the Askari Credit Card customers to transfer his/her other bank’s credit card outstanding to Askari Mastercard Credit Card and further convert the balance transferred amount to Easy Installment Plan.
Easy Installment Plan is the service offered by Askari Bank to its Askari Mastercard Credit Card customers by which credit cardholders will pay Total Balance Transferred Amount in small equal parts in a fixed period of time agreed by the customer. Mark-up will be applicable as per prevailing schedule of charges.
Credit Card Terms and Conditions means the terms and conditions agreed to by the customer to obtain the bank’s card.
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 by reason 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 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.
What is BTF and conversion into Easy Installment Plan?
BTF means the services provided to the Askari Card member to transfer his/her other Bank’s Credit Card outstanding amount to Askari Mastercard Credit Card and further convert the Balance Transferred amount in to Easy Installment Plan.
What is the Minimum Limit for BTF and conversion into Easy Installment Plan?
Minimum Amount for BTF to Easy Installment Plan is Rs. 10,000/-.
What is the Maximum Limit for BTF and conversion into Easy Installment Plan?
BTF to Easy Installment Plan can be availed against 90% of available credit limit subject to availability of limit.
How can customer book BTF for Easy Installment Plan?
Customer will call Askari Bank’s 24/7 Help Line at 111-000-787 via his/her registered contact number.
Time required for booking of BTF and conversion into Easy Installment?
Within 05 working days.
Can Balance Transfer Facility to be availed without Easy Installment Plan?
No, customer cannot avail BTF without converting it into Easy Installment Plan.
What will be the minimum & maximum tenure for BTF conversion into Easy Installment Plan?
BTF to Easy Installment Plan can be converted into 03, 06, 09, 12, 18, 24 & 36 months’ installments.
What is the early termination/ cancellation for BTF converted into Easy Installment Plan?
Charges will be applicable as per bank’s prevailing schedule of charges.
What is the ideal time to request a BTF?
Customer should request BTF atleast 07 working days before their due date or right after the bill generation of another bank’s credit card.
Can multiple cards’ debts be combined and converted?
Multiple bank’s credit card debts can be converted separately to BTF & further converted into Easy Installment Plan. Processing charges will be applicable for each BTF conversion to easy installment separately, as per Bank’s prevailing schedule of Charges.
Askari Mastercard Credit Cardholder will simply call 24/7 Askari Help Line at 111-000-787 for booking of BTF to Easy Installment Plan.