A Credit Card Clearance Letter is a crucial document in the Malaysian banking system, typically requested when a cardholder wishes to prove they have settled all obligations related to their credit card account. This document is commonly required for various purposes, including loan applications, immigration procedures, or when switching banking relationships. The letter must comply with Bank Negara Malaysia's guidelines and the Financial Services Act 2013, providing clear confirmation of account settlement and closure. It includes essential information such as the cardholder's details, card account information, confirmation of full payment, and a formal declaration of closure. The document serves as legal proof that the cardholder has no outstanding obligations to the issuing bank regarding the specified credit card account.
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1. Bank Details: Information about the issuing bank, including bank name, branch, and relevant contact information
2. Card Account Information: Credit card account number (partially masked), type of card, and account holder name
3. Settlement Confirmation: Clear statement confirming that all outstanding amounts have been fully settled
4. Account Status: Confirmation that the account has been closed with no outstanding balance
5. Clearance Declaration: Formal declaration that the cardholder has no further liabilities or obligations related to the credit card
1. Settlement Details: Details of final payment made, including date and amount - included when specifically requested by cardholder or required by receiving institution
2. Account History Summary: Brief summary of account standing history - included when requested for loan applications or immigration purposes
3. Additional Card Information: Information about supplementary cards if any were issued - included only when supplementary cards existed
4. Rewards Points Status: Confirmation of the closure of rewards points account - included only if the card had a rewards program
1. Statement of Final Settlement: Detailed breakdown of final payment and settlement figures, if required
2. Card Benefits Termination Summary: List of terminated card benefits and services, if any special benefits were attached to the card
Relevant legal definitions
Clauses
Relevant Industries
Banking
Financial Services
Consumer Finance
Credit Services
Retail Banking
Payment Services
Relevant Teams
Credit Operations
Customer Service
Compliance
Banking Operations
Documentation
Collections
Account Management
Legal
Risk Management
Branch Operations
Relevant Roles
Credit Operations Manager
Bank Branch Manager
Customer Service Representative
Credit Card Operations Officer
Compliance Officer
Banking Operations Manager
Credit Assessment Officer
Account Relationship Manager
Credit Collections Manager
Banking Documentation Specialist
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