Pre-approved "Dial-a-Check" Installment Program

Terms and Conditions for Citibank Credit Card "Dial-a-Check'' Installment Program
1."Dial-a-Check'' Installment Program (“the Program”) is only applicable to designated Citibank principal credit cardholders (each an "Eligible Cardholder") as stated in the terms and conditions set forth herein and as communicated to the Eligible Cardholder from time to time (whether in writing or orally by telephone or otherwise) (the "Terms and Conditions").
2. A request by Eligible Cardholder for a loan under the Program, either in writing or through a telephone call, will be deemed to be acceptance of the Terms and Conditions by the Eligible Cardholder. The Terms and Conditions shall be in addition and supplementary to and not in substitution or in derogation of Citibank Credit Card Agreement or Octopus Citibank Credit Card Agreement, whichever is applicable (each a "Cardholder Agreement"). The words and expressions used herein shall have the same meaning as in the relevant Cardholder Agreement unless the context otherwise requires. In case of any inconsistency between the Terms and Conditions and the relevant Cardholder Agreement, the Terms and Conditions shall prevail.
3. Availability of the Program is subject to account status checking, available credit limit or loan limit (whichever applicable) at the time the request is received and the final acceptance by Citibank (Hong Kong) Limited ("Citibank") in its absolute discretion. Citibank has the right to revise the final approved loan amount.
4. The approved loan amount ("Loan") will be deducted from the available credit limit or loan limit of the relevant Citibank credit card account (the "Account") upon approval of the application. The credit limit or loan limit will be restored in accordance with your payment. In addition, if the Loan is deducted from the loan limit upon approval of the application, the Monthly Installment Amount (as defined below) shall be deducted from the available credit limit upon such approval until the full settlement of the Loan.
5. An initial fee ("Initial Fee") will be charged only once. It is calculated by multiplying (i) the Loan; (ii) the monthly flat rate from time to time applicable to the Eligible Cardholder ("Monthly Flat Rate"); (iii) the number of days from the loan approval date to the first statement date, and divides the total by 30 days. The Initial Fee will be payable on the first statement date.
6. A monthly fee ("Monthly Fee") will be charged monthly from the first statement date until the full settlement of the Loan at the Monthly Flat Rate, and payable on each statement date commencing the second statement date.
7. Eligible Cardholder shall repay the Loan by way of monthly installments (the "Monthly Installment Amount") from the second statement date onwards. The Monthly Installment Amount is calculated by dividing the aggregate of the Loan and all the Monthly Fee by the relevant number of installments. The Annualized Percentage Rate ("APR") of the Loan is calculated in accordance with the method set out in the relevant guidelines issued by the industry associations and is based on a 365-day installment period using Net Present Value method. Citibank shall have the right at its discretion to apportion any installment payment between interest and principal in such manner as it shall desire.
8. The Loan (after deducting the requisite amount for settlement of any outstanding principal amount for the existing loan(s) under the Program as agreed) will either be disbursed by a check (with Eligible Cardholder as the payee) or be directly deposited to a bank account (in the name of Eligible Cardholder) as designated by Eligible Cardholder. For check disbursement via ordinary mail, the check will be sent to Eligible Cardholder's correspondence address last known to Citibank. Citibank is not liable or responsible for any loss or delay in sending the check to Eligible Cardholder by way of ordinary mail or for any failure or delay in disbursing the Loan to the relevant account unless it results from any negligence or willful default on Citibank's part. Eligible Cardholder shall contact Citibank if no reply or no disbursement of the Loan (as the case may be) is received from Citibank after 7 working days of the application. Citibank reserves the right to stop the check or loan disbursement at any time as it deems fit.
9. Eligible Cardholder shall indemnify Citibank against all claims, demands, costs, losses and expenses suffered or incurred by Citibank in relation to any of the following events:
a. The issuance of a replacement check to Eligible Cardholder at Citibank's discretion if the check is lost, destroyed or otherwise not received by Eligible Cardholder for any reason;
b. The check is not presented by Eligible Cardholder within 6 months from the date of the check;
c. The bank account as designated by Eligible Cardholder is not in the name of Eligible Cardholder; or
d. Citibank acts on any written, verbal, telephone, facsimile or electronic instructions or confirmations given by any person whom Citibank believes in good faith to be Eligible Cardholder or to have authority to give such instructions or confirmations on behalf of Eligible Cardholder, regardless of the prevailing circumstances or the nature of the transaction and notwithstanding any error, misunderstanding, fraud, forgery or lack of clarity in the giving, receipt or contents of such instructions / confirmations.
10. Application cannot be cancelled, changed or reversed once submitted.
11. Without prejudice to other terms contained herein, if the entire statement balance stated in any monthly statement is not received in full by the payment due date, a finance charge (at the prevailing rate) will be imposed on (a) the Monthly Installment Amount (excluding the Monthly Fee and Initial Fee, if any) from the billing date until full payment is credited to the Account; and (b) the unpaid balance and the new transactions in accordance with the Cardholder Agreement. Other fees and charges as set out in the Cardholder Agreement will continue to apply.
12. The minimum payment due of the Monthly Installment Amount shall comprise of (i) 1.5% of current month's billed principal and unbilled principal of the Loan; (ii) the Monthly Fee; and (iii) the Initial Fee, if any.
13. Citibank shall have the right at its absolute discretion to request for full payment of the Loan on demand at any time. In the event of cancellation of the Account (or early repayment of the Loan in full) for whatever reason, the following will become immediately due and payable:- (a) the total outstanding loan amount, (b) an early cancellation fee equivalent to all Monthly Fees payable over the remaining of the installment period but not yet billed to the designated card account, and (c) an early cancellation handling fee of HK$300. The Eligible Cardholder shall give Citibank at least 7 working days’ notice in advance of the intention to make early repayment. Once given, such notice will not be revocable without Citibank’s prior consent in writing. All paid Monthly Fees and Initial Fee (if applicable) will not be refunded. Partial early repayment will not be accepted.
14. (a) Nothing contained in the Program shall be construed as an obligation on Citibank to offer or continue to offer the Program.
(b) Citibank reserves the right at any time without prior notice to vary all or any of the Terms and Conditions, or to replace, wholly or in part, the Program by another scheme, whether similar to this scheme or not, or to withdraw it altogether.
(c) Citibank will not be responsible or liable for any actions, claims, damages, costs, charges and expenses which a cardholder may suffer, sustain or incur by way of the Program.
15. The loan amount under the Program will not be eligible for any Points, Octopus Cash, Fuel Rebate or any other promotional offers.
16. All disputes are subject to the final decision of Citibank.
17. In the event of discrepancy between the English and Chinese versions of these terms and conditions, the English version shall prevail.