(Applicable to all customers to whom we provide Mox Credit)
1. Mox Credit
(a) You may apply to use your Mox Card with credit (“Mox Credit”). We may allow you to use your Mox Card with credit in our absolute discretion.
(b) As well as the general terms and conditions and preceding schedules, you agree that you are also bound by this Schedule 3 when you use Mox Credit. We will make changes to this Schedule 3 from time to time. We will give you notice of the changes if you have Mox Credit. We will not notify any customer who does not have Mox Credit of any changes to this Schedule 3.
(c) Once we approve your application for Mox Credit:
(i) we will notify you and you may use your Mox Card with credit straight away;
(ii) only credit transactions (and not debit transactions) will be effected and processed on your Mox Card, except:
(A) for cash withdrawals, for which we will take money out of your Mox Account unless you request a cash advance by the means described below; or
(B) if you choose to use your Mox Card to debit from your Mox Account;
(iii) all transactions undertaken as a result of any arrangements set up or authorised by you in respect of your Mox Card (including automatic payment, direct debit, regular payment and other standing arrangements) will be effected and processed as a Mox Credit transaction. If you do not agree to any such transaction being processed as a Mox Credit transaction, please terminate or modify any such arrangement with the relevant merchant or third party;
(iv) we may allow you to make a payment using Mox Credit on the Mox app to a merchant you select in order to pay a bill using the required bill details (if available); and
(v) your Mox Card will remain a Mastercard World Rewards debit card and the use of your Mox Card will remain subject to Mastercard terms and conditions, including the Mastercard World Reward debit card benefits and rules.
(d) You are liable for:
(i) all Mox Credit transactions (except for disputed transactions); and
(ii) your balance of Mox Credit, including interest, fees and charges.
2. Credit limit
(a) We will let you know your credit limit.
(b) We may:
(i) give you the opportunity to increase your credit limit by giving you prior notice. Please tell us if you do not agree to the increase; or
(ii) reduce your credit limit without telling you before we make this change.
(c) You can ask us to increase your credit limit by using the Mox app or decrease your credit limit by calling our contact centre (Tel: 2888 8228).We may:
(i) conduct a credit check and assess your ability to pay if you ask us to increase your credit limit; and
(ii) notify you of our decision whether to vary your credit limit.
(d) You may not borrow more than your credit limit.If you try to undertake any transaction which will exceed your credit limit, we may:
(i) reject the transaction; or
(ii) allow the transaction to be processed and treat it as a request by you to go over your credit limit.
We will let you know if we permit you to go over your credit limit.
(e) You may tell us not to allow any transactions that will exceed your credit limit.Even if you have told us not to exceed your credit limit, we may still allow certain Mox Credit transactions and treat them as your request to go over your credit limit.For example:
(i) any transaction the actual posting amount of which exceeds the amount originally presented for authorisation for reasons including currency exchange rate fluctuations or surcharges levied by a merchant;
(ii) any transaction which was within the credit limit at the time of our authorisation but at the time of posting by a merchant, is in excess of your available balance;
(iii) any transaction directly authorised by a card operator;
(iv) any other transaction which is not immediately processed by us or does not require our authorisation for effecting payment; and
(v) any other transaction which we specify.We will publish any applicable types of transactions on the Mox app and on our website.
(f) If your Mox Credit statement balance is above your credit limit on the Mox Credit statement date:
(i) the amount exceeding your credit limit (excluding any interest, fees or charges) will be added to the minimum amount due; and
(ii) an over-the-limit fee may apply.
3. Cash advance
(a) You may obtain a cash advance on Mox Credit by withdrawing cash at an available ATM or point of sale (where available), by transferring money to your Mox Account using the Mox app, or by any other means described below.
(b) Your cash advance limit is never more than your credit limit. You may obtain a cash advance up to the available balance of your cash advance limit.
(c) We may charge:
(i) a finance charge on each cash advance; and
(ii) interest on any unpaid amount of each cash advance (excluding any finance charges) from the settlement date of the cash advance.
(d) You’re telling us to provide you with a cash advance if you use Mox Credit to:
(i) transfer money to your Mox Account or another bank account (regardless of whether the payee account is maintained with us); or
(ii) pay for any credit card bill or make any payment in respect of a loan owed to another bank.
4. Mox Credit statements
(a) We will issue you a Mox Credit statement each month setting out:
(i) your Mox Credit transactions during the relevant statement period;
(ii) your Mox Credit balance;
(iii) the payment due date for your Mox Credit statement balance;
(iv) the minimum amount due for that month; and
(v) details on how you can make payment to us.
(b) We will let you know when a new statement is available. You can download your Mox Credit statements from the Mox app, and save and print them for your records.
(c) If you would like to receive a paper statement, you can email us at firstname.lastname@example.org or call our contact centre (Tel: 2888 8228). A fee applies.
(d) If you think there is an error in any Mox Credit statement you must notify us with details of the error within 60 days from the statement date. If you don't do so:
(i) the statement will be regarded as correct, conclusive and binding on you; and
(ii) you waive any right to raise any objection or pursue any remedies against us in relation to that statement,
unless the error arises from our negligence, fraud or wilful default, or that of our officers, employees or agents.
(e) You will only be able to access your Mox Credit statements from the previous 7 years.
(f) Failure to receive your Mox Credit statement for any reason does not affect or waive your obligation to pay us what is owed to us.
5. Interest, fees and charges
We may charge fees, charges or interest rates for your use of Mox Credit. We will notify you from time to time of the interest rates, fees and charges as well as the frequency of payment and calculation methods.Unless we notify you otherwise, the fees, charges and interest rates set out in our fee schedule and our key facts statement will apply.
6. How to pay Mox Credit
6.1 Minimum amount due
You must pay at least the minimum amount due shown in each Mox Credit statement on or before the payment due date shown on the relevant statement. How we calculate your minimum amount due is set out in our key facts statement.
6.2 How to make payment to us
(a) You may pay all or part of your Mox Credit statement balance by transferring money from your Mox Account in the Mox app, or by other means set out in the statement. You may only pay us in the currency set out in your Mox Credit statement.
(b) If you pay us any amount in excess of your Mox Credit statement balance, we may:
(i) retain such excess amount as a credit balance for you on Mox Credit, which you can use to pay your next Mox Credit statement balance.No interest will accrue on any such credit balance; and
(ii) return to you such excess amount by transferring it to your Mox Account.
Note: as some payment methods may require more processing time, we encourage you to pay your Mox Credit statement balance early to avoid incurring any additional fees, charges and interest. Different payment channels have different cut-off times, and the cut-off time is at the discretion of such payment channel. Please ensure that Mox receives your payment on or before the payment due date shown on your Mox Credit statement to avoid incurring any additional fees, charges and interest.
6.3 What if you do not pay the minimum amount due?
If we do not receive from you at least the minimum amount due set out on your Mox Credit statement on or before the payment due date, we may:
(a) charge additional fees, charges and interest; and
(b) suspend your use of Mox Credit.
6.4 What if you do not pay your Mox Credit statement balance in full?
If we do not receive your Mox Credit statement balance in full on or before the payment due date, we may:
(a) charge you interest daily at the applicable interest rate, as set out in our key facts statement;
(b) demand immediate payment of all your outstanding Mox Credit balance (including any interest, fees and charges); and
(c) set off, debit, withhold or transfer all your outstanding Mox Credit balance (including any interest, fees and charges) from any of your accounts with us.
The “Interest Free Period” set out in our key facts statement does not apply if we do not receive your Mox Credit statement balance in full on or before the payment due date.
6.5 You must make an immediate repayment if we ask
We may demand immediate repayment of any amount you owe on Mox Credit at any time, regardless of whether the amount is:
(a) set out in a Mox Credit statement; or
(b) due and payable as at the date of our demand.
We may set off, debit, withhold or transfer from any of your accounts to pay any amount you owe us.
6.6 How do we allocate your payment?
If you do not pay your Mox Credit statement balance in full, we may use any amount we receive from you to pay:
(a) first, all interest billed to your Mox Credit statement;
(b) second, all fees and charges billed to your Mox Credit statement;
(c) third, any balance billed to your Mox Credit statement (excluding any billed interest, fees and charges);
(d) fourth, any balance (excluding any interest, fees and charges which are charged, but not yet billed) in excess of your Mox Credit statement balance;
(e) any interest in excess of your Mox Credit statement balance; and
(f) any fees and charges in excess of your Mox Credit statement balance.
If more than one interest rate applies, the amount on which the higher interest rate is payable will be paid first (from highest to lowest).
6.7 Contact us
Please notify us promptly if you have any difficulty in repaying any amount you owe us.You can do so by sending us a message via the Mox app, or by email to email@example.com or calling our contact centre (Tel: 2888 8228).
7. Cancellation and termination
7.1 How to cancel Mox Credit
(a) If you close your Mox Account, you’re also telling us to cancel Mox Credit.
(b) We may suspend or cancel your use of Mox Credit at any time without giving you any reason or prior notice.We may do this with or without also suspending or cancelling your Mox Account.
(c) You can ask us to suspend or cancel your use of Mox Credit without cancelling your Mox Card via the Mox app. If we allow you to do so, you will be able to use your Mox Card to debit from your Mox Account.
(d) Any cancellation of Mox Credit or closure of your Mox Account by you is subject to:
(i) full repayment of any amount you owe on your Mox Credit, including interest, fees and charges;
(ii) all Mox Credit transactions being posted and fully settled;
(iii) there being no unresolved disputed transaction; and
(iv) any other conditions that we consider necessary to enable us to comply with any law or regulation.
7.2 What happens to autopay or other standing arrangements after cancellation?
If Mox Credit is suspended or cancelled, you must cancel or modify any arrangements set up or authorised by you in respect of Mox Credit (including automatic payment, direct debit, regular payment and other standing arrangements) with the relevant merchant or third party.We are not responsible for cancelling or transferring any such arrangements.We may apply the arrangements to your Mox Account but are not obliged to do so.
7.3 You remain liable for all amount due even after cancellation
If Mox Credit is cancelled for any reason, you must immediately pay us the full amount you owe us in connection with Mox Credit, being:
(a) the outstanding balance, including interest, fees and charges; plus
(b) the amount of any Mox Credit transaction effected but not yet charged to your Mox Card.
7.4 Applying for Mox Credit after cancellation
If Mox Credit is cancelled for any reason, you will need to submit a new application to use your Mox Card with credit. We may approve or deny your new application in our absolute discretion.