Corporate News
Notice of Amendment to Credit Card Cardholder Agreement of Liu Chong Hing Bank Limited
Dear Cardholder,
We wish to advise you that, with effect from 1 April 2005, Liu Chong Hing Credit Card Cardholder Agreement Clause 5(b iv) and Clause 14 will be revised.
The amended clauses are as follows:
5. (b) (iv)
where a Transaction involved a currency other than Hong Kong dollars, the amount of Hong Kong dollar equivalent to the Transaction amount at a rate of exchange determined by reference to the exchange rate adopted by Visa International Services Association, MasterCard International Incorporated and/or other intermediaries or service providers on the date of conversion, plus any transaction fee(s) charged by Visa International Services Association, MasterCard International Incorporated and/or other intermediaries or service providers to the Bank, if applicable.
14. Transactions in Foreign Currency
Transactions effected in currencies other than Hong Kong dollars shall be converted into Hong Kong dollars before debiting (or crediting as the case may be) to the Card Account. The Bank shall be entitled to effect any payment in connection with this Agreement in any currency as the Bank may prescribe. Where a conversion of one currency into another currency is required under this Agreement, such conversion shall be calculated at such rate as may be determined by the Bank in good faith at its absolute discretion and which shall be conclusive and binding on the Cardholder. The Cardholder shall reimburse the Bank of all commissions, charges and fees charged to the Bank by Visa International Services Association, MasterCard International Incorporated and/or other intermediaries or service providers in relation to such Transactions, foreign currency exchange, remittance and transfer services ancillary thereto.
Should you have any queries on the above amendments, please call our Customer Services Hotline at 2161 8888. You may also refuse to accept the above amendments and thereby terminate the relevant agreement by invoking your right under Clause 9 of such agreement.
Liu Chong Hing Bank Limited
March 2005