| FAQs on Charge Cards |
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What are other types of payment cards available in Malaysia? |
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Besides charge cards, other payment cards are credit card, debit card and stored value card.
A debit card is a payment card where the transaction amount is deducted immediately from your savings and/or current accounts, upon authorisation. This facility is also available in the Bankcard issued by most local banking institutions. There are also International debit cards such as VISA Electron and MasterCard Electronics, which can be used at merchants wherever their logos are displayed.
Stored value card (SVC) is a prepaid card, which contains a monetary value that has been pre-loaded by the card issuer. Some SVC schemes may allow the cardholder to reload the amount in the card and the value will be automatically deducted from the amount stored in the card, whenever purchases are made. The most common SVC available in Malaysia are MEPS Cash, a bank-wide e-purse scheme which is available in the Bankcard issued by the local banking institutions and the Touch 'n' Go, which is widely used for transportation purposes. |
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Can anyone be eligible for a supplementary card? |
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| It is up to the principal cardholder to nominate his/her supplementary cardholders depending on the T&C of the charge card issuer. |
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As a supplementary cardholder, will I get a monthly statement? |
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| Normally, the information on charge card transactions by the principal cardholder and the supplementary cardholder will be included in the same monthly statement and sent to the principal cardholder only. Depending on their internal policy, charge card issuers may provide separate monthly statements to the principal and supplementary cardholders. |
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I made a payment using my charge card, but I am not satisfied with the goods purchased. What should I do? |
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| Charge card provides convenience to you for making payments only. You must know and comply with the conditions stipulated by the merchants when making purchases of goods and services offered, such as its policy on return of goods. The charge card issuer will not be responsible for any defects on the merchandise or services purchased or paid using the charge card. The existence of a claim or dispute between the merchant and the cardholder will not entitle the cardholder to withhold his payment. |
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Who is responsible for the payment of the purchases made on the supplementary card? |
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| The principal cardholder is held primarily responsible for the transactions made by the supplementary cardholder and also his/her own transactions made using the charge cards. However, you should check the T&C on whether the supplementary cardholder would also be held liable for the charge card debt. |
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Do I have to pay additional cost to the merchant if I use my charge card in making purchases? |
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| There is no additional cost for using the charge card to make purchases. If you are being charged by the merchant, you may wish to contact your charge card issuer for clarification. |
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How is the exchange rate determined when I make purchases overseas? |
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| The amount for transactions made overseas in foreign currencies will be converted into Ringgit Malaysia using the exchange rate established by the charge card payment schemes (e.g. American Express, Diners Club and MasterCard) plus conversion commission or administrative charges. The conversion of currencies will be done automatically as and when the transactions are done. |
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Will I be liable for the fraudulent charges if my charge card has been stolen or lost? |
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| You must always take precautionary measures to protect your charge card. If you do so, you will not be held liable for the transactions occurring after you have reported the loss of your charge card to your charge card issuer. However, for verbal notification, some charge card issuers may require you to provide a written confirmation and/or a police report to them. On the other hand, if there is an unauthorised use of your charge card before the report is made, you may be held liable up to a certain amount, depending on the T&C of the charge card issuer. |
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Is it necessary for me to monitor my charge card statements? |
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| Yes, it is important to check your charge card statements for any discrepancy or unauthorised transaction. Taking a few minutes to review the information in your charge card statement is an easy and effective way to detect unauthorised use of your charge card. |
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What should I do if I find errors in my charge card statement? |
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You should notify your charge card issuer immediatly of any error in the monthly statement or possible unauthorised transactions in relation to your charge card verbally and to follow-up in writting as soon as possible.
For charge card issuers that are banking institutions, information on the contact persons or e-mail addresses are available on Bank Negara Malaysia�s website at www.bnm.gov.my. In addition, for unauthorised transactions, if you are not satisfied with the response given by your banking institution, you can also write to the Financial Mediation Bureau:
The Mediator
The Financial Mediation Bureau
Level 25,
Dataran Kewangan Darul Takaful
Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel: 03 � 2272 2811
Fax: 03 � 2274 5732
Website: www.fmb.org.my |
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How can I make a complaint against my charge card issuer? |
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If you are not satisfied with the treatment given by your charge card issuer, you can make a complaint to the charge card issuer. If you are still not satisfied, you may address your complaint to Bank Negara Malaysia.
For more information on how to make a complaint against charge card issuers that are banking institutions, please refer to the booklet on "Making a Banking Complaint", which are available at banking institutions' branches or go to Making A Banking Complaint. |
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