Terms and Conditions
• Holders of any Standard Chartered Bank Malaysia Berhad (SCBMB) Credit Card(s) (“Cardholders”) invited by SCBMB may apply to transfer outstanding balances as
shown in the latest corresponding account statements (“Outstanding Balances”) from Card accounts relating to any other credit card held by them (except a SCBMB
Credit Card) (“Other Card Account(s)”) to any SCBMB Credit Card account held in their name (“SCBMB Card Account”).
• This Balance Transfer Programme (“Programme”) is only open to Principal Cardholders of credit cards issued by any financial institution in Malaysia and/or charge cards
billed in Ringgit Malaysia.
• The approved amount will be determined by SCBMB at its sole discretion and may be lower than the amount applied. SCBMB reserves the right to decline any
application without any reason whatsoever.
• A private label card account (“PLC Account”) for the Programme bearing serial number 9458-xxxx-xxxx-xxxx will be allocated to you and jointly combined with your
existing SCBMB Card account and all other Supplementary Cards issued. This is NOT a credit limit increase and this PLC account will be used to post the balance
transferred from the other Card account(s). No physical card or PIN will be issued.
• For each balance transfer under the Programme, the monthly instalment is calculated as the total sum of the amount transferred plus interest on the amount so
transferred divided by the number of months in the instalment period.
• Cardholder has to make a minimum payment of 5% of the monthly instalment due or RM50, whichever is higher, to this PLC account. In the event the Cardholder fails
to pay the minimum payment or if the payment is not received by the Bank in full or before payment due date as specified in the statement for payment, then the prevailing
finance charge of 18% p.a. shall be levied on the outstanding balance of the monthly instalment amount from the due date until the date of full settlement.
• If Cardholder opts to settle the outstanding balance prior to the expiry of the applicable tenure (early settlement), a cancellation fee of RM30 will be levied and the
Cardholder has to settle in full the remaining pre-determined monthly instalment payable (comprising principal and interest) for the entire applicable tenure.
• If the Cardholder’s SCBMB Card account is terminated for any reason whatsoever, the Cardholder shall forthwith settle all balances due under the Programme.
Otherwise the prevailing finance charge of 18% p.a. shall be levied on the outstanding balance which comprises of principal outstanding and interest accrued.
• The Bank may vary any of these Terms and Conditions. Any such change will be announced on the Bank’s website at standardchartered.com.my, in the Bank’s
branches and notified via the account statements.
• You are reminded that if we approve your application for this Balance Transfer, the amount approved will take up part of the existing credit limit of your card. Your credit
limit remains the same, but your credit card utilisation will be reduced, because of the amount of the Balance Transfer.
• You are advised to read carefully the Customer Terms and the applicable documents referred to in Part A of the Customer Terms, forming our banking agreement, which
are available at any of our branches or on our website at standardchartered.com.my