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Menu Tip Credit Card Service: A group of self-service functions for applying new card, replacing card, activating card, checking/updating personal particulars in the card and installment service.
Credit Card Repayment: Repay the overdraft in Credit Card, Quasi Credit Card by the registration card of Internet Banking registered at ICBC counter.
Set Auto-repay: Set the amount in the RMB/FX deposit A/C under your current service area to automatically repay overdraft in RMB/FX account of your Credit Card. Set the amount in the RMB deposit A/C of your Credit Card, Quasi Credit Card or International Debit Card under your other service areas to automatically repay overdraft in RMB A/C of your Credit Card.
 Set Auto-repayment Help

Agreement of Automatic Repayment Service (Personal Card)


    Party A (holder of the account for outward transfer/ holder of the principal card) hereby authorizes Party B (Industrial and Commercial Bank of China) to deduct specified amount from the account of Party A with Party B at regular intervals to pay the debt at the account for inward transfer designated by Party A, and both parties have made agreement on the following terms and conditions.
    1. Party A can apply for the registration, modification and cancellation of the automatic repayment service of Peony Credit Card (including double-currency credit card and RMB credit card), among which cancellation can be applied for by holder of the account for inward transfer/holder of the principal card.
    2. Party A can assign automatic repayment for either his/her own account or other parties’ accounts. Where the account for outward transfer and that for inward transfer are held by different persons, the account for outward transfer must be a personal settlement account.
    3. The account for outward transfer can be Peony Double-currency Credit Card, Peony RMB Credit Card, Peony Quasi Credit Card, Peony International Debit Card, Local Peony Money Link Card/ Elite Club account/Money Link· e-time, and local ICBC current settlement account.
    4. In case of repayment in foreign currency with Peony Double-currency Credit Card, Party A can choose either automatic purchase of foreign exchange with RMB for repayment or automatic repayment in foreign currency. In case of automatic repayment in foreign currency, account for outward transfer and that for inward transfer must be in the same currency.
    5. Repayment can be made either in Optimal Repayment or Repayment in Minimum Amount, and Partial Repayment also applies under either thereof.
    (1) Optimal Repayment: where there is debt for the previous month, Party B will provide Party A with automatic repayment service, the repayment amount=balance of the debt in the statement of previous month + cash withdrawn/amount transferred outward from the beginning of the month to the day prior to the date of automatic deduction – repayment made from the beginning of the month to the day prior to automatic deduction.
    (2) Repayment with Minimum Amount: Party B provides automatic repayment service for Party A with the minimum repayment amount as stated in the statement of the previous month.
    (3) Partial Repayment: where the account for outward transfer fails to make the repayment in full amount, the repayment shall be made with the amount available thereof.
    6. Party B shall reckon the date for automatic deduction according to the due repayment date and days ahead of the due date (the due repayment date – days ahead of the due date), and conduct the deduction thereof on the deduction date. Party A shall represent and guarantee that the account for outward transfer is in normal status and holds sufficient funds for automatic repayment on the deduction date as specified by Party B. An account for outward transfer shall not be used for deduction in overdraft. In case of insufficient funds in the account for outward transfer for the full-amount automatic repayment of account of inward transfer (except for those Partial Repayment as selected), or abnormal status of the account for outward transfer of Party A, and as a result Party B fails to make automatic deduction, Party A shall notify and urge the holder of the account for inward transfer to make the repayment through other ways in a timely manner, and the said holder shall assume interests, fees and relevant losses incurred therefrom.
    7. Automatic purchase of foreign exchange with RMB for repayment shall be conducted at the exchange rate released by Party B on the deduction date. Where the account for outward transfer is not double-currency credit card or international debit card in case of automatic repayment in foreign currency, Party A must clearly state whether the account is note account or exchange account, and Party B shall only deduct amount based on the account type designated by Party A.
    8. Where the account for outward transfer is Peony Credit Card or Peony Quasi-credit Card, and card number changes when loss report and new account opening or other circumstances are incurred to account for outward transfer /inward transfer, Party B shall take the initiative to make the automatic repayment according to the changed card number. Where the account for outward transfer is of another type, and card number changes when loss report and new account opening or other circumstances are incurred to account for outward transfer /inward transfer, Party A shall refer to Party B to apply for modifying the information in a timely manner.
    9. Upon the successful registration of Party A, automatic repayment in RMB or in foreign currency purchased with RMB which is registered during the period from the beginning of the month to the day prior to the date of automatic deduction shall become effective in the month, and those registered after the date of automatic deduction shall become effective from next month; where Party B has already made automatic repayment when Party A successfully completes the modification or cancellation, Party B shall not conduct the account reversal for Party A.
    10. Unless Party B changes or no longer provides this service, or Party A or the holder of account for inward transfer /holder of principal card cancels this automatic payment service, this Agreement shall remain effective.
    11. Where Party B makes change to this Agreement, Party B shall make public announcement according to relevant laws and regulations. Once made, the announcement hereof shall be legally binding on Party A.
    Declaration: I (Party A) understand and consent this Agreement of Automatic Repayment; I represent and guarantee the validity of the above-mentioned content filled out, and has checked the information printed by the bank as accurate and faultless.



Agreement of Automatic Repayment Service (Personal Card)


    Party A (holder of the account for outward transfer/ holder of the principal card) hereby authorizes Party B (Industrial and Commercial Bank of China) to deduct specified amount from the account of Party A with Party B at regular intervals to pay the debt at the account for inward transfer designated by Party A, and both parties have made agreement on the following terms and conditions.
    1. Party A can apply for the registration, modification and cancellation of the automatic repayment service of Peony Credit Card (including double-currency credit card and RMB credit card).
    2. Party A can only assign automatic repayment for his/her own account.
    3. The account for outward transfer can be Peony Double-currency Credit Card, Peony RMB Credit Card, Peony Quasi Credit Card, Peony International Debit Card, Local Peony Money Link Card/ Elite Club account/Money Link e-time, and local ICBC current settlement account.
    4. In case of repayment in foreign currency with Peony Double-currency Credit Card, Party A can choose either automatic purchase of foreign exchange with RMB for repayment or automatic repayment in foreign currency. In case of automatic repayment in foreign currency, account for outward transfer and that for inward transfer must be in the same currency
    5. Repayment can be made either in Optimal Repayment or Repayment in Minimum Amount, and Partial Repayment also applies under either thereof.
    (1) Optimal Repayment: where there is debt for the previous month, Party B will provide Party A with automatic repayment service, the repayment amount=balance of the debt in the statement of previous month + cash withdrawn/amount transferred outward from the beginning of the month to the day prior to the date of automatic deduction – repayment made from the beginning of the month to the day prior to automatic deduction.
    (2) Repayment with Minimum Amount: Party B provides automatic repayment service for Party A with the minimum repayment amount as stated in the statement of the previous month.
    (3) Partial Repayment: where the account for outward transfer fails to make the repayment in full amount, the repayment shall be made with the amount available thereof.
    6. Party B shall reckon the date for automatic deduction according to the due repayment date and days ahead of the due date (the due repayment date – days ahead of the due date), and conduct the deduction thereof on the deduction date. Party A shall represent and guarantee that the account for outward transfer is in normal status and holds sufficient funds for automatic repayment on the deduction date as specified by Party B. An account for outward transfer shall not be used for deduction in overdraft. In case of insufficient funds in the account for outward transfer for the full-amount automatic repayment of account of inward transfer (except for those Partial Repayment as selected), or abnormal status of the account for outward transfer of Party A, and as a result Party B fails to make automatic deduction, Party A shall make the repayment through other ways in a timely manner and assume interests, fees and relevant losses incurred therefrom.
    7. Automatic purchase of foreign exchange with RMB for repayment shall be conducted at the exchange rate released by Party B on the deduction date. Where the account for outward transfer is not double-currency credit card or international debit card in case of automatic repayment in foreign currency, Party A must clearly state whether the account is note account or exchange account, and Party B shall only deduct amount based on the account type designated by Party A.
    8. Where the account corresponding to the card for which Party A applies has already registered automatic repayment service, the original agreement signed with Party A shall prevail; where the account corresponding to the card for which Party A applies has not registered automatic repayment service, Party B shall make the registration hereof according to the application submitted this time.
    9. In case of failure of automatic repayment application on account of reasons in Party A (including but not limited to writing errors, account for outward transfer being incompliant with the provisions of Article 2 and 3 herein, existence of an Automatic Repayment Agreement previously signed by Party A), Party B shall notify Party A, and Party A can apply again. Party A shall bear all the losses incurred therefrom, and Party B shall not be held legally responsible for any loss thereof.
    10. Where the account for outward transfer is Peony Credit Card or Peony Quasi-credit Card, and card number changes when loss report and new account opening or other circumstances are incurred to account for outward transfer /inward transfer, Party B shall take the initiative to make the automatic repayment according to the changed card number. Where the account for outward transfer is of another type, and card number changes when loss report and new account opening or other circumstances are incurred to account for outward transfer /inward transfer, Party A shall refer to Party B to apply for modifying the information in a timely manner. Otherwise all the losses incurred therefrom shall be assumed by Party A.
    11. Upon the successful registration of Party A, automatic repayment in RMB or in foreign currency purchased with RMB which is registered during the period from the beginning of the month to the day prior to the date of automatic deduction shall become effective in the month, and those registered after the date of automatic deduction shall become effective from next month; where Party B has already made automatic repayment when Party A successfully completes the modification or cancellation, Party B shall not conduct the account reversal for Party A.
    12. Unless Party B changes or no longer provides this service, or Party A or the holder of account for inward transfer /holder of principal card cancels this automatic payment service, this Agreement shall remain effective.
    13. Where Party B makes change to this Agreement, Party B shall make public announcement according to relevant laws and regulations. Once made, the announcement hereof shall be legally binding on Party A.

    


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 Menu Tip  
Menu Tip Message 1. Auto-repay is only applicable for repayment of Credit Card (except Business Card).
2. To set auto-repay via Personal Internet Banking, overdraft card and repayment card (A/C) must be held by the same cardholder.