VISA Renewal Terms & Conditions


Terms and conditions contained in this agreement are related to the cards to be issued from time to time to you by us. You have read and understood the terms and conditions, and you agree to follow them at all times.

(1) After we have approved your card application, you shall keep the card, PIN and card related information safely. We are not responsible for all issues arising out of using the card and PIN. 

(2) If the card is lost or stolen or PIN security is breached you shall inform us. Prior to receiving the information by us, you shall hold responsible for all functions carried out by someone using your card.

(3) If card is lost or stolen or damaged or expired or PIN security and if you apply for new card, the card fee shall be deducted from you card account.

(4)  We will send the bank statement to your email address which you have mentioned when you applied for the card, and if found any differences in the transactions or charges in your bank statement, you shall inform us within 14 days. 

(5) If found incorrectness of transactions or other charges in you bank statement, you shall make the minimum amount of payment made on the day mentioned in the statement. 

(6)  On due date or before in your card statement, you shall make minimum payment or total balance mentioned in your card statement. 

(7)  If we do not receive the whole or minimum amount of payment on the due date, daily interest will be calculated on the transaction amount and late fees and interest shall be collected.

(8)  If you fail to make payment up to 30 days, using of your card account may be suspended. You can use your card only after making minimum payment of the balance of your statement. 

(9)  If you fail to make payment up to 60 days, you can use your card only after you make all the total outstanding amount of payment and your credit limit will be reduced to 50 %. 

(10)  Those who need to make deposit know and agree that they are to make deposit into the bank account, and if fail to do so for any reason, the amount shall be deducted from the deposited cash on the 60th day from which the day the deposit is to be made. KBZ bank can recover credit card dues of its customers(deposit/lien) on and after 60 days of delinquency by withdrawing from their deposit accounts.

(11) Card users who have no desire to continue to use the card may apply for terminating the card. In applying this, the Bank will close the card only after all amounts used, late fees and interests (all liabilities) have been settled. 

(12)  We reserve the right to suspend or terminate any function or use of the cards or any card account. If card account is terminated, the rights and benefits granted through the card shall not be enjoyed. You shall settle all liabilities of the card and the card account. (Annual fees included) No refund will be made. 

(13) You authorize the Bank to verify your identity through various sources available legally by various vendors or central authority such as Credit bureau agency. You also authorize us to exchange, share or part with all the information/ data relating to you provided by you and/ or the details of the card account, as may be required to enable you to avail the benefits under the card account and you shall not hold the Bank liable for using/ sharing this information. You understand that the information once shared shall also become our proprietary information and would be subject to usage and privacy, data confidentiality policies for safeguarding of the information/ data. You agree to be bound by this Agreement, App terms and conditions and other terms and conditions of use, which will accompany the Bank.

(14)  With or without notification, we have the right to record the instructions and other conversations made through phones, and you agree that this can be used as firm evidences. 

(15)  We reserve the right to combine or integrate the amount or the account (card account included) (individually or jointly or any form or privately owned or corporate), and can make reconciliation for credit balance. Please browse to learn more details of terms and conditions, service fees and card features and benefits relating to card service. 

(16) No forbearance, delay or failure on our part to exercise any power or right under this Agreement shall operate as a waiver of such power or right, nor shall any single or partial exercise of such power or right preclude any further exercise of that or any other power or right.

(17) This Agreement shall be governed by and construed in accordance with the Republic of the Union of Myanmar and both parties hereby submit to the non-exclusive jurisdiction of the Myanmar courts.

(18) If any covenant or provision hereof is determined to be void or unenforceable in whole or in part, it shall not be deemed to affect or impair the validity of any other covenant or provision, each of which is hereby declared to be separate and distinct and enforceable independently. If any provision is void but would be valid if some part of it were deleted, the provision in question shall apply with such modification as may be necessary to make it valid and such deletion shall not affect the enforceability of the remainder of this Agreement not so deleted.

(19) The terms and conditions in this Agreement will be binding upon the party hereto party’s heirs, representatives, executors, successors and assigns.

(20) You hereby agree and acknowledge and confirm that you have read all the above terms and conditions and will adhere to all the terms of the Credit Card.