HSBC's Balance Transfer

Balance Transfer Terms and Conditions:

1. The Balance Transfer Facility of HSBC allows a Cardholder in good standing to transfer his outstanding card balances with other banks or credit card companies to his HSBC credit card. The approved Balance Transfer Amounts will be subject to the prevailing monthly add-on interest rates, depending on the chosen repayment period.
2. The Cardholder may only transfer balances from a primary, non-HSBC credit card under his/her name to his/her primary HSBC credit card. Balance transfers from one HSBC credit card to another HSBC credit card are not allowed.
3. The Balance Transfer amount must result to a monthly installment amount of at least Php500.00.
4. Only the amount of transactions posted that form part of your total outstanding balance on your non-HSBC credit card at the time of application may be subject to Balance Transfer. In the case of installment transactions, only the monthly installment amount posted to the card at the time of application will be covered by the Balance Transfer transaction.
5. HSBC shall have the absolute and exclusive right to approve or reject all Balance Transfer applications. Should the Cardholder's available credit limit not be sufficient to cover the Balance Transfer Amount applied for plus the total amount of the Add-on Interest (Handling Fee) for the chosen repayment period, HSBC shall, at its sole discretion, determine and approve only a portion of the Balance Transfer Amount applied for without need to inform the Cardholder beforehand. The Cardholder shall be responsible for following up with HSBC on the status of his Balance Transfer application. In case of rejection of a Balance Transfer application, HSBC is not required to notify the Cardholder of such rejection and the reason thereof. For this purpose, the Cardholder may call (02) 85-800 (for Metro Manila) or 1-800-1-888-8555 (for domestic toll-free where available). HSBC shall not be liable for delinquency of the Cardholder's non-HSBC card, interest or any penalty charge imposed upon the Cardholder as a result of the rejection by HSBC of his BT application.
6. The monthly Balance Transfer Installment Amount shall be posted as a regular transaction on the HSBC Credit Card account and shall form part of the Total Due on each statement of account. Cardholders shall have the option to pay the Minimum Payment, which is computed as 4% of the Total Due, every month. If he does so, or if the Cardholder revolves any portion of the Total Due in any given month, the Balance Transfer Installment Amount shall be included in the computation of the Finance Charge and Late Payment Charge (if applicable) for that month.
7. In case any portion of the Balance Transfer Amount remains unpaid after the chosen repayment period, the remaining unpaid Balance Transfer amount shall be charged the prevailing, standard monthly finance charge of the HSBC credit card.
8. Cardholders may inquire about the status of their Balance Transfer application by calling 85-800 or 976-8000 (within Metro Manila), (02) 85-800 or (02) 976-8000 (for local mobile phones), 1-800-1-888-8555 (for domestic calls outside of Metro Manila), + [63](2)85-800-00 for international calls.
9. Once a Balance Transfer application is approved, HSBC on behalf of the cardholder, shall credit or pay, the non-HSBC credit card the amount of the approved Balance Transfer Amount. The issuing bank may charge a fee that will be debited from the approved BT amount. The said charges shall be for the account of the Cardholder. HSBC shall not be liable for interest, or any over-payment of the credit card outstanding, nor for any late payment or other finance charge that the Cardholder may incur as a result of failure or delay by HSBC in making the payment before the due date of the Cardholder's non-HSBC credit card.
10. Once approved, the Balance Transfer transaction can no longer be reversed. In case of pre-termination or cancellation of the approved Balance Transfer transaction before the end of the chosen repayment period, HSBC reserves the right to charge to the Cardholder's account Three Hundred Pesos (Php300.00) or 5% of the Balance Transfer Amount remaining unpaid as of the date of pre-termination, whichever is higher, as a processing fee for the pre-termination of the Balance Transfer transaction.
11. The Terms & Conditions governing the issuance and use of the HSBC Credit Card and the HSBC's Installment Plan/RED Installment are incorporated herein by reference and made an integral part thereof.