hi guys,

with regards to the ambank BT programme, i'm currently eyeing the quick cash option, but am not too sure about this clause in the T&C. what does the 1.5% fee mean?

5. The QuickCash amount shall be treated as a cash advance but the cash advance fee imposed on the card
pursuant to the Bank’s Card MasterCard/VISA Agreement (“Card Agreement”) is hereby waived in as far as the
QuickCash amount is provided under the Programme. However, a finance/management fee charge at the rate of
1.5% per month calculated on a daily rest basis shall be imposed on the monthly principal instalment amount and
the monthly interest instalment amount (not applicable to the monthly management fee instalment amount for
AmIslamic Bank credit card) from the posting date of the said instalment amounts until the full payment is
received and credited into the Cardmember’s account. The finance/management fee charge shall only be posted
in the Cardmember’s account statement on the subsequent month of the said instalment.

i went to the bank branch to ask and they told me this is the charge fee for early settlement, but it doesn't sound right. anyone can help shed some light on this? thanks!