Balance Transfer Terms and Conditions

Balance Transfer Terms & Conditions

These terms will be read in conjunction with the LIV General Terms & Conditions (“General Terms”) and in case of any conflict in these terms & the General Terms, these terms shall prevail.

1. Balance Transfer is a ‘Card Transaction’ initiated by the cardholder via Liv app which the Cardholder agrees to repay Liv in equal monthly installment.

2. The total of Balance Transfer amount along with the interest amount for the installment period & processing fee will be charged to the Cardholder Credit Card Account reducing the available credit limit.

3. The processing fee is a percentage of the total amount availed as Balance Transfer as and when applicable.

4. The interest rate charged on the Balance Transfer deal availed is a reducing rate.

5.The Balance Transfer applicable will be a part of the monthly “Minimum Payment Due” amount.

6. In case of early settlement of the Balance Transfer before the expiry of the entire Tenure of the plan as early settlement fee of 1% of the remaining principal outstanding amount shall be levied to the Cardholder Credit Card Account. Further, all interest or fee charged towards installments pre-settled shall have to be borne by the Cardholder and no such charge will be waived off by Liv

7. Liv shall not be held responsible for any fee or any service charge debited to the Credit Cardholder’s other bank Credit Card account due to a decline or a delay in execution of the Balance Transfer request.

8. Credit Card Cardholder should continue to make payments to other bank credit card account until Credit Card Cardholder receives the confirmation in their future statement that the amount has been credited.

9. Approval of Balance Transfer amount is at the sole discretion of Liv

10. Liv will attempt to resolve any dispute as per the Credit Card Cardholder Agreement and the above mentioned terms.

11.Rewards / cashback / loyalty points will not be credited on any Balance Transfer deals.

12. Liv reserves the right, at its absolute discretion, to enroll the customers who have already benefited from this program for any other card promotions.

13. It is the Cardholder’s responsibility to ensure that he/she provides the correct and valid information to Liv in order to ensure the Balance Transfer request is booked appropriately during this program.

14. Liv reserves the right, at its absolute discretion, to amend and/or supplement these terms and conditions at any time without any prior notification to the Cardholder. Any such amendments or supplements shall be provided on Liv App

15. These terms and conditions are governed by and construed in accordance with the laws of the United Arab Emirates and the Emirate of Dubai.

16. In no event shall Liv, any of its affiliates, or any of its officers, directors, employees or agents be liable or responsible for any loss, damage or expense arising out of or otherwise related to this program.

17. Liv does not offer or provide any warranties, or accept any responsibility or liability of any kind in respect of this program and hereby disclaims any and all express or implied warranties with respect of the same.

18. Liv shall not be in breach of its obligations or otherwise be liable to conduct this programme as a result of any Force Majeure Event. A Force Majeure Event in these terms and conditions, shall mean circumstances beyond the reasonable control of Liv including, amongst other things, acts of God, industrial disputes, acts and regulations of any governmental or authority in any jurisdiction. In such circumstances, Liv obligations to the Cardholder shall automatically stand discharged without the need to provide notice.

19. Payments made to the card will first settle the Balance Transfer installment amount/Interest and then the billed unbilled Cash advance and purchases.

20. Balance transfer is available for other banks credit card issued in the UAE only

21. Upon nonpayment of three installments towards your Balance Transfer (“BT”), the installment plan shall be terminated and the entire BT outstanding balance, including the remaining principal amount and interest, shall be added into existing credit card outstanding balance which would be considered as New Balance.