Terms and Conditions Governing EasiCredit Funds Transfer Facility

  1. You understand that, subject to the discretion of Oversea-Chinese Banking Corporation Limited ("OCBC"), a Funds Transfer Facility may be made available to you.
  2. You may apply for a transfer (the "Funds Transfer") in Singapore dollars (the "Applied Funds Transfer Amount"), subject to a minimum amount specified by OCBC, from your EasiCredit Account to any of your bank/credit card/credit line accounts(s) (the "Other Bank/Card/Credit Line Accounts(s)") held with any bank or financial institutions in Singapore, other than OCBC.
  3. OCBC reserves the right to reject an application for a Funds Transfer in its entirety and/or approve only part of an Applied Funds Transfer Amount (such approved amount shall be referred to as the "Funds Transfer Amount") at its absolute discretion and without assigning any reason therefor.
  4. OCBC may, on its approval of each Funds Transfer, debit the Funds Transfer Amount from your EasiCredit Account on the date of the approval letter issued by OCBC or such later date as determined by OCBC.
  5. You shall be fully liable to OCBC for any and all amounts charged to and/or debited from your EasiCredit Account. Each Funds Transfer Amount charged to and debited from your EasiCredit Account will be treated in the same manner as your Instruction under OCBC Terms and Conditions Governing Personal Line of Credit Accounts and will be reflected in the monthly Statement of Account issued by OCBC to you for your EasiCredit Account and payable by you in accordance with the OCBC Terms and Conditions Governing Personal Line of Credit Accounts.
  6. OCBC may vary the interest rate chargeable, the basis of calculation of interest, fees and charges at any time in OCBC's sole discretion without any notice and without giving any reason therefor. The amount to be transferred cannot exceed the Approved Limit or (as the case may be) the available credit limit of your EasiCredit Account
  7. You will continue to make payment to your Other Bank/Card/Credit Line Account(s) until you have receive confirmation that your EasiCredit Account has been debited in settlement of the Funds Transfer Amount. You further agree that OCBC shall not be liable for any overdue payment, charges, fees or interest, losses or damages that may be incurred thereby.
  8. The OCBC Terms and Conditions Governing Personal Line of Credit Accounts shall apply. In the event of inconsistency between those terms stated herein and the OCBC Terms and Conditions Governing Personal Line of Credit Accounts, the OCBC Governing Personal Line of Credit Accounts shall prevail.
  9. OCBC reserves the right at its absolute discretion to vary, delete or add to any of these terms and conditions from time to time without notice.
  10. These terms and conditions shall be governed by the laws of Singapore and you irrevocably submit to the non-exclusive jurisdiction of the courts of Singapore. A person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act (Cap 53B) to enforce any of these terms and conditions.