Monday, 24 April 2017

FAQs

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FAQs for Credit Card

1. What are the eligibility requirements for availing a MTB credit card?

  • Any Bangladeshi National
  • For salaried person minimum gross monthly income is BDT 20,000
  • For self-employed person minimum gross monthly income is BDT 25,000
  • Age:
    • Minimum 21 years for primary card
    • Minimum 18 years for supplementary card
    • Maximum 60 years for any card.

* Credit Card approval is subject to credit assessment.

2. How can you get annual fee waived for your card?
Annual Fee is waived on various Credit Cards depending upon offer. Currently, Annual Fee is waived when you do 15 or more transactions in a year.

Please inform the bank for annual fee reversal when you have completed 15 transactions by simply calling 16219 or by visiting the nearest branch. We shall reverse the fee at the earliest working day.

** Note: Annual Fee is charged automatically by the system. We shall reverse it manually. So do not forget to notify us as soon as you have completed 15 transactions. However, waiver on annual fee for 15 transactions will not be applicable in favor of late payment and over limit charges.

3. What documents are required for availing a MTB credit card?

  • Duly filled Credit Card Application form
  • Salary Certificate (salaried) / Valid and Updated Trade License (self-employed)
  • Partnership deed (self-employed)
  • Memorandum of Association (self-employed)
  • Certificate of Incorporation (self-employed)
  • Photocopy of updated e-TIN/TIN Certificate
  • Valid Photo ID (National ID)
  • Photocopy of Office ID/Visiting Card
  • 2 passport sized photographs (Studio Print)
  • Latest Six months Bank statement for salaried applicant
  • Latest Six months Bank statement for self employed

4. Why have not I yet received my credit card e-statement?

  • Router faults
  • Detected as SPAM by various company servers and blocked
  • Your email address needs to be updated with the Bank

Have you registered for our E-statement service?

If not, you have to fill up an enrollment form and drop it at any of our branches.

5. Why have not I yet received my hard copy credit card statement?
We usually send out hard copy statements immediate after every billing cycle.

The statements we generate in the Bank’s system on each month’s below stated respective dates:

  • 22nd day
  • 25th day
  • 01st day

Card Holders are mailed the hard copy statements once they are generated. A period of 15 days from the statement generation date is provided to make the minimum payment due on the credit cards.
However, the possible reasons for not receiving the hard copy statement are:

  • Card holder may have changed his address but the bank has not been updated accordingly
  • There may be problem in reaching the person at the billing address due to incomplete address given to the bank

* If this situation takes place, simply contact the call center to report.

6. Can I purchase online using MTB credit card?
Yes you can use all types of MTB Credit Card. But you can purchase from local Bangladeshi e-shops only.

7. Can a MTB credit card be used to pay exam fees online?
Definitely, yes! All kind of international exam fees (IELTS, TOEFL, GMAT etc) can be paid through dual currency credit cards. To enable an online transaction, the card holder has to call our 24 hour Call Center. Make sure that your card is endorsed for current year and you have available limit in USD part.

8. Does MTB have any dual currency credit card?
Yes! MTB offers EMV VISA and Master Credit Cards named Dual Currency Credit Card.
This Card is valid not only in Bangladesh but abroad as well. It can be used in local currency (BDT) within the country and foreign currency outside the country. This type of credit card has a limit ranging from BDT 60,000 to BDT 5,00,000.

This card comes with several privileges and exclusive offers with a credit limit of BDT 60,000 to BDT 500,000.

9. Can I use my MTB credit card abroad?
Yes! You have to ensure the endorsement on your passport prior to your visit abroad. You can use till your travel quota is exhausted.

10. I have lost my credit card. What can I do now?
Immediately call our 24 hour call center at 16219 (or +880 9604016219 if you are calling from abroad) and report the loss with proper information. Card will be blocked immediately and new card will be issued.

11. How can I increase my credit card limit?
Simply go to a MTB Branch and fill up the form for Limit Enhancement. Please do not forget to bring the following with you when you visit our Branch:

If you are salaried person

  • Your new salary certificate
  • 3 month latest Bank statement showing the increased income.

If you are a Business Person

  • Your latest trade license
  • 6 months latest bank statement

* Enhancement is subject to credit assessment.

12. How to close my credit card?
Please pay your total due outstanding. This may include:

  • FlexiPay dues (if any),
  • Unsettled transaction (last 6 month),
  • Annual fee(if any)

Upon the necessary payment of your total outstanding amount, please submit

  • Duly filled Card Closure Form
  • Your Credit Card & Card Cheque book (if any).

P.s. Signature must match with system.

13. What is a ‘general sales tax’?
It is another name for Valued Added Tax (VAT). It is 15% VAT imposed by Government on all the fees related to credit card services. It is mandatory to pay.

14. I am a non-resident Bangladeshi. Am I eligible to avail a MTB credit card?
Sorry, as per Bangladesh Bank guidelines, no foreigner or Non Resident Bangladeshi is eligible for MTB Credit Card.

15. How can I change my email address?
Call our 24 hour call center number at 16219 or visit your nearest MTB Branch and fill up an Email address change request form.

16. How can I change my mailing address?
Call our 24 hour call center number at 16219 or visit your nearest MTB Branch and fill up a mailing address change request form.

However, this change is subject to verification and submission of papers that proves the said address.

17. How will I collect my credit card PIN number?
It will be sent to you at the mailing address given in your application form.

18. Is it possible to do online transactions from Bangladesh by using a MTB Travel Card?
Sorry! MTB Travel Card can only be used abroad.

19. Why am I unable to open my card e-statement?
Kindly install a PDF file reader on your PC or laptop. All bills or statements are prepared in PDF format.

20. Who should I contact to avail MTB Credit Card?
You can apply through MTB website by clicking applies online or you can call 16219 to place your request or you can also visit nearest MTB Branch.

FAQs for FlexiPay

21. What is FlexiPay?
FlexiPay allows you to convert any Retail Transaction on your MTB credit card with repayment on monthly equal installments.

22. Who can avail FlexiPay and what are the eligibility criteria for availing FlexiPay?
You just need to be a MTB credit cardholder to avail FlexiPay facility. Any Credit Cardholder who missed payment for 3 months over the year will not be eligible for FlexiPay.

23. What is the transaction amount I can transfer to FlexiPay?
Any Retail Purchase transactions of BDT 3,000 or more are applicable for availing FlexiPay.

24. What type of transaction can be converted into FlexiPay?
You can convert any Retail BDT Transaction (minimum BDT 3000) through using your MTB credit card into FlexiPay (under your available credit limit).

25. Can I convert my retail transaction made using my universal card or any international transaction?
No, FlexiPay is available only for MTB Retail BDT transactions. Other currencies apart from Retail BDT Transactions are excluded from FlexiPay.

26. Do I have to pay any administrative / enrollment fees or any other hidden costs for FlexiPay?
There are no administrative / enrollment fees or hidden costs related to FlexiPay. It’s a value added feature on your MTB credit card.

27. What will be tenure of FlexiPay?
FlexiPay is available on the following repayment tenure:
• 3 months
• 6 months
• 9 months
• 12 months
• 18 months
• 24 months

28. Is there any interest on FlexiPay?
FlexiPay is available at the following Interest rate:
• 0% Interest over the installment period ( for retail purchase transaction).

29. How do I convert my credit card transaction into FlexiPay?
You can drop your filled up FlexiPay application form at merchant outlet where FlexiPay is available or you can send your filled up FlexiPay application form directly to MTB Cards Centre or your nearest MTB Branches.

30. How long after the transaction can I convert the amount into FlexiPay? How long will it take to execute?
You can convert the transaction into FlexiPay anytime (within one month after the transaction date) after it is posted to your credit card account (club or split transaction cannot be enrolled in this program).

Upon receiving your request, the transaction amount will immediately be converted into FlexiPay and you will receive a confirmation letter/SMS from our card services.

31. What type of transaction can be converted into FlexiPay?
You can convert any Retail BDT Transaction (minimum BDT 3000) through using your MTB credit card into FlexiPay (under your available credit limit).

32. Can I convert any transactions into FlexiPay?
No, you can only convert your Retail BDT transactions (minimum BDT 3000) to FlexiPay. Cash Advance, Balance Transfer and Card Cheque Transactions are excluded from FlexiPay.

33. How many transactions can I convert into FlexiPay?
You can convert multiple Retail BDT transactions (minimum BDT 3000) within your available credit limit to FlexiPay.

34. Can I avail FlexiPay facility on my Supplementary card?
Yes, FlexiPay facilities are available to both primary as well as supplementary credit cardholders.

35. Will FlexiPay have any impact on my replaced card?
No, if your card is replaced, FlexiPay will automatically be transferred to your replaced card.

36. Will FlexiPay have any impact on card product group change?
In case of card upgrade, downgrade and product group change, FlexiPay can be transferred to your new card. Please check upon conversion.

37. Can I pay off the entire amount/cancel my FlexiPay before the end of my FlexiPay tenure?
Yes, you can pay out the remaining outstanding installment amount before the end of your installment tenure as early full settlement. You just have to pay the early full settlement fee of 2% or Taka 250 whichever is higher along with VAT on your remaining Installment balance. But you have to pay the early settlement amount upfront and then you can apply for closing/cancelling the FlexiPay.

38. How does the FlexiPay effect my after sales service agreement with the vendor?
FlexiPay does not affect any agreement between the vendor and you. It’s an agreement between the bank and the merchant but you are liable to make the monthly installment repayment to the bank.

39. Can I convert my card outstanding balance into FlexiPay?
No, your total card outstanding balance cannot be converted into FlexiPay.

40. What will be the interest calculation method of my FlexiPay?
Interest will be calculated on your previous unpaid balance and will not have any impact on your FlexiPay if your monthly installment repayment is regular. Once you miss the monthly payment dues, interest will be charged on your unpaid balance.

41. What will be minimum amount due calculation method of my FlexiPay?
Minimum amount due will be calculated based on your monthly Installment amount along with interest amount of your FlexiPay. If there is any previous unpaid balance, this will be included in minimum amount due as per current system calculation (5% or BDT 500 whichever is higher).

42. How do I get notifications regarding the monthly installment payment on my FlexiPay?
Your payment dues along with monthly installment notification will be sent through statement on your billing cycle date.
For detail, please call 24/7 MTB Contact Centre @ 16219.