Common use of Card Overdraft Bonus Clause in Contracts

Card Overdraft Bonus. 5.13.1. Card Overdraft Bonus (the right to use the service) may be assigned to Customer on the basis of Customer’s Application submitted to Bank for review and consideration. 5.13.2. If Bank agrees to the provisions specified in the Card Overdraft Bonus Application, Bank signs the Application, and the Application constitutes an integral part of this Agreement. From that moment, Customer is eligible to request Card Overdraft Bonus. 5.13.3. To request Card Overdraft Bonus and prove its identity, Customer uses Remote Banking Services (RBSs) and adheres to these Terms and Conditions (Section 4 hereof). 5.13.4. Bank may refuse, without stating any reason, to assign Card Overdraft Bonus or reduce, at any time, the amount of the assigned but unutilised Card Overdraft Bonus, or to repay it. Bank will notify Customer of Bank’s refusal to assign Card Overdraft Bonus and reduction or repayment of the assigned but unutilised Card Overdraft Bonus. 5.13.5. Total amount of Bank-assigned and outstanding (non-repaid) Card Overdraft Bonuses may not exceed the overall limit imposed by Bank and stated in the Card Overdraft Bonus Application, irrespective of whether the Bonuses have been spent. 5.13.6. Customer will pay a Fee (according to the Fee Schedule) per each Card Overdraft Bonus assigned by Bank. 5.13.7. Card Overdraft Bonus is intended for urgent Card Transactions. 5.13.8. Card Overdraft Bonus is considered spent (fully or partially) at the moment when Customer commences Card payments within the limit of the Card Overdraft Bonus. 5.13.9. Customer is obligated to fully repay to Bank spent Card Overdraft Bonus within 3 (three) calendar days after the Bonus has been assigned. Regardless of whether Customer has spent the Card Overdraft Bonus (fully or partially) or not, Bank will cancel the Card Overdraft Bonus on the 4th (fourth) calendar day after the Card Overdraft Bonus has been assigned. 5.13.10. If several Card Overdraft Bonuses are assigned to Customer, and Customer delays the specified due date (cl. 5.13.9 hereof) for any of the Bonuses fully or partially, then Bank may request that all other outstanding Card Overdraft Bonuses be immediately paid. In the case mentioned herein Bank has the right to cancel all assigned but unspent or partially spent Card Overdraft Bonuses (as far as partially spent Bonuses are concerned, Bank cancels their unspent portion). 5.13.11. Card Overdraft Bonus, which is assigned, spent and outstanding (unpaid) in accordance with cl. 5.13.9) will be treated as Customer’s debt owed to Bank and representing an unauthorised negative balance in the Card Account. Bank charges interest on the unauthorised negative balance. To calculate the interest, Bank uses the same annual interest rate as specified in the Fee Schedule and used to calculate interest for Card Credit Limit exceed. The interest is calculated on the basis of a 360- day year and the actual number of calendar days in each month. The interest calculated for a calendar month is deducted from the Card Account on the last banking day of the respective calendar month. If the unauthorised negative balance in the Card Account is not cleared by the Setoff Date, Customer must pay Late Fee calculated on the amount in arrears, using the annual interest rate as specified in the Fee Schedule. On the last calendar day of every calendar month, Late Fee (calculated for a calendar month) is deducted from the Card Account, thus increasing the unauthorised negative balance in the Card Account. Customer must immediately clear the unauthorised negative balance. 5.13.12. To repay any of Card Overdraft Bonuses, as spent and overdue, Bank may, without giving Customer a prior notice, deduct the required amount (fully or partially) from any account held by Customer with Bank by transferring the required amount from any Customer’s account with Bank. If necessary, Bank may convert the funds (if the funds available in the account are denominated in other currency) into the Card Account currency according to Bank’s General Currency Exchange Rate effective at the time of the conversion.