Important Update on Credit Card Terms and Conditions

• None

“Authorised User” – A user of the SMART DATA GEN 2 that has been authorized by the Employer to access Card transactions.

“Fee Schedule” – The table of fees and charges applicable to this Agreement which may be altered by the Issuer from time to time; also known as the Easy Guide to HSBC Corporate Credit Card Fees and Charges.

“Quasi-cash Transactions” – Refers to transactions representing a purchase of foreign currency or items (including but not limited to, gaming chips, money orders and lottery tickets) which may be convertible to cash, and may also include transactions such as the transfer of funds under a wire transfer money order, the funding of accounts and such other transactions as determined by the relevant card association from time to time.

• None

Under section 7 –Quasi-cash Transactions The Employer agrees that all Quasi-cash Transactions using the Card shall be conclusively presumed to have been personally made or authorized by the Employer. A Quasi-cash Finance Charge, at HSBC's prevailing rate, as indicated in the Fee Schedule, will be imposed using the average daily balance method upon the quasi-cash transaction from the transaction date until the transaction and applicable interest are fully paid.

• Under section 11 – Payment

The finance charges, at the Issuer's prevailing rate of 3.5% per month, will be levied using the average daily balance method upon the Employer's opening balance and all new transactions posted, accrued from the transactions' posting dates until the end of the current Statement Period. Finance charges shall continue to be imposed until the amount due is paid in full.

Under section 13 - Payment


The Retail Finance Charge, at the prevailing rate specified in the Fee Schedule, will be imposed using the average daily balance method upon your opening balance, excluding new retail transactions made within the statement period, accrued from the statement start date until the outstanding balance and applicable interest are fully paid.

• Under section 11 – Payment

Payment made by the Cardholder shall be applied to the Main Card Account in the following sequence: 1) billed membership fee; 2) billed other fees/charges such as taxes; 3) billed late payment charge; 4) billed purchase of finance charge; 5) billed purchase principal; 6) unbilled other fees; 7) unbilled purchase principal. The Issuer reserves the right to adjust, at its sole discretion, the payment application sequence.

Under section 13 - Payment

Payment made by the Cardholder shall be applied to the Main Card Account in the following sequence: 1) Billed finance charges; 2) Billed Late Payment Fee; 3) Billed Joining Fee; 4) Billed Annual fee; 5) Billed Overlimit Fee; 6) Billed Non-sufficient Fund Fee such as returned cheques; 7) Billed Principal. Should there be any excess payment after all billed balances have been settled, the excess payment will be applied to your unbilled balances as they are posted on your account, following the same order.

• Under section 17 – Payment

Notwithstanding the foregoing, the Employer is advised that: (i) Issuer shall charge PHP500 for each payment instruction sent via fax made until 31 December 2015; and (ii) effective 01 January 2016, Issuer will no longer accept payment instructions sent via fax.

• This provision has been removed.

Instructions sent to HSBC via Fax are no longer accepted. For concerns related to your Corporate Card, you may reach out to the Corporate Card contact center with number +63(2)6726478 or to your Client Services Manager or Relationship Manager.

• Under section 19 – Disclosure of Information

The Employer consents to and agrees to the collection and use of customer information in accordance with the terms and conditions in Annex “A” hereof.

• Under section 21 – Disclosure of Information

Prior to requesting the Issuer for the issuance of the Card, the Employer shall be responsible for obtaining the Cardholder's consent to the Issuer's terms and conditions on the collection and use of customer information contained in Annex “A” hereof.

The Employer consents to and agrees to the collection and use of customer information in accordance with the terms and conditions in Annex “A”.

PHP 2,400

PHP 2,400

3.5% interest rate per month will be imposed using the average daily balance method upon your opening balance, excluding new retail transactions made in the statement period, accrued from the statement start date until the outstanding balance and applicable interest are fully paid

3.5% interest rate per month will be imposed using the average daily balance method upon your transaction from the transaction date until the transaction and applicable interest are fully paid

100% of the Closing Balance for the Main Card Account

PHP 600 or 7.5% of the Minimum amount due, whichever is lower

PHP 500

PHP 1,000 for payments which are insufficiently funded

PHP 275 for each sales slip retrieved upon cardholder's request

PHP 400 for each replacement of lost, stolen or damaged card

2.5% of the converted sum plus reimbursement of the assessment fee charged by MasterCard to HSBC equivalent to 1% of the converted sum

PHP 12,000 for online access, PHP 75,000 for Direct Feed to Expense Reporting

PHP 12,000 for online access, PHP 75,000 for Direct Feed to Expense Reporting

Monthly effective interest rate:

3.50% based on actual number of days in a month

Principal amount:

PHP 63,877

1

63,877

0

2,279

63,877

66,155

2

-

4,500

1,986

61,655

63,642

3

-

2,800

2,170

60,842

63,012

4

-

7,600

1,913

55,412

57,325

5

-

2,500

1,956

54,825

56,781