Article 5. Scope and Credit Limit of the Card

1.      Scope of the Card and payment obligations of the Cardholder:

a)     The Card may be used to withdraw cash at CDMs/ATMs/POSs of VPBank and ATMs/POSs in the coalition of NAPAS, and at CDMs/ATMs/POSs with the symbol of an international card institution (for international cards) or withdraw by other methods offered by VPBank from time to time, to pay for goods and services at the Merchants, via Internet, email, telephone, etc., and use other services offered by VPBank and other banks directly or indirectly associated with VPBank through one or more intermediary organizations.

     The Cardholder agrees that upon card payment transactions, depending on each card transaction and requirements/provisions of VPBank and/or the International Card Institution and/or by the Merchant in accordance with the regulations of the law and International Card Institution, card transactions may be authenticated using one of following methods, including but not limited to:

–             The Card and Cardholder present at the Merchant; and/or

–             Signature of the Cardholder on the card transaction invoice; or

–             Entering the PIN upon transaction; or

–             Card details (Card name/Card number/CVV/CVC codes, etc.) provided via email, telephone, internet, etc.; or

–             Calls from Client to VPBank call center; or

–             Any other authentication method registered with VPBank by the Cardholder; or

–             Any other authentication method specified by VPBank, International Card Institutions and the Merchants.

b)     The Cardholder is fully aware and understands that when the card payment transactions are initiated for which the Card and/or Cardholder is not present in person at the Merchant or VPBank’ headquarter (e.g. MOTO transaction, online payment transaction, phone call transactions etc.,) and when the Cardholder fails to keep confidential card details, his Card may be taken advantage for payment transactions which in-person presence of the Card and/or Cardholder is not required at the Merchant. By signing this Application, such risks are fully acknowledged and accepted by the Cardholder.

c)     The Cardholder assumes liability for paying VPBank Timo for all transactions incurred and authenticated by any method mentioned in point (a) above. The Cardholder agrees that the Statement delivered by VPBank will be the evidence, confirming transactions, costs, and interest (if any) and debits and credits in the Statement are true and valid. The Cardholder shall make payment for all transactions, costs and interest shown on the Bank Statement in accordance with the deadline in the Bank Statement, except for VPBank’s faults.

d)     Upon successful activation of the Card, the Cardholder is permitted to use the Card’s online payment features. In the event that such features are not required, the Cardholder will contact with Timo channel to deactivate such features.

2.     Credit Limit of the Card and Credit Limit change:

a)    The Card is used within the use limits. The use limits include Card Credit Limit, payment limit, cash withdrawal limit and other limits as prescribed by VPBank.

b)     Cardholder’s use of loan is accepted within the Credit Limit to perform permitted card transactions as prescribed herein.

c)     By activating the Card, the Cardholder is considered to receive full notice on Credit Limit and Credit Term from VPBank and have accepted the Credit Limit and Credit Term granted by VPBank. Such Credit Limit is also shown in the monthly Statement delivered to the Cardholder as prescribed by VPBank.

d)     VPBank has the right to periodically review under VPBank’s regulations or irregularly review and re-evaluate the Credit Limit and the Credit Term issued to the Cardholder under the Contract. VPBank is entitled to adjust and terminate the Credit Limit and/or the Credit Term in accordance with VPBank’s review and evaluation results. In this case, the Cardholder shall be informed by the method that VPBank considers to be reasonable and suitable with these General Terms and Conditions. The Cardholder agrees and undertakes to perform the Contract.

e)     In case the Cardholder is issued with multiple Credit Limits with various cards, the Cardholder may (i) request VPBank to change (increase or decrease) Credit Limit between Credit Limits within the total limit of the issued Credit Limit; (ii) request VPBank to allow the Cardholder to use the Credit Limit associated with that Card or any other Credit Limit available at VPBank. The method of request, conditions and procedures to fulfill the requests as described in this Clause are complied with VPBank’s regulations from time to time.

f)     Upon the expiry of the Credit Limit, the Credit Limit shall be reassessed as prescribed by VPBank. The Cardholder shall be issued with the new Credit Limit equal to the previous one if conditions are satisfied as prescribed by VPBank. VPBank is entitled to request the Cardholder to provide additional documents to evaluate the Credit Limit where necessary. By signing this Application, the Cardholder agrees to request VPBank to re-valuate and consider to issue a new Credit Limit to the Cardholder.

g)    Within the Credit Limit validity, a request on changing Credit Limit, Daily Cash Limit of the Card, etc., may be submitted to VPBank Timo and VPBank’s regulations on changing Credit Limit must be complied. The Cardholder is considered to agree with the changed Credit Limit if the Card use is assumed without any notice, complaint or grievance to VPBank. In case VPBank receives a request on Credit Limit change, Daily limit … via Timo Care or directly at the VPBank service facilities after the Cardholder is verified as stipulated by VPBank and relevant limits have been changed at the request, the Cardholder agrees to take complete responsibility to VPBank for the proposed new limit and any risks (if any).

h)     Depending on the VPBank’s policy from time to time, card use limits may be changed by VPBank. In this case, the Cardholder shall be informed by one of several modes specified herein.