Back to Listing

Previous Article Next Article

08 February 2023

Revision of Alliance Bank Cardholder Agreement

Announcement

ENG BM

Dear Valued Customers,

We wish to inform you that the Alliance Bank Cardholder Agreement (“Agreement”) has been updated.

The following clauses have been updated and the updated Agreement shall be effective from 1 March 2023.

Item

Existing Clause

New Clause

6.1.6

Additional Cashback will be credited to Visa Signature Alliance Privilege Cardholder(s) with minimum spend of RM120,000 per annum, based on tiered Asset Under Management. The cashback will be credited into the Principal Cardholder’s Credit Card Account on the following month, upon completion of a calendar year.

Tier	Additional Cashback Rates	Asset Under Management (RM)
1	0.5%	More than 300,000
2	1.0%	More than 500,000
3	2.0%	More than RM1 million
4	3.0%	More than RM3 million

Additional Cashback will be credited into Alliance Privilege Visa Signature Credit Card subject to meeting the minimum retail spend requirement of RM120,000 per annum. The Additional Cashback is awarded to Alliance Privilege Visa Signature Cardholder(s) based on tiered average Asset Under Management (“AUM”) per annum as per the Table 1 below. The Alliance Privilege Visa Signature Cardholder(s) is required to maintain an AUM balance upon completion of a calendar year. The minimum retail spend requirement of RM120,000 per annum is defined as the accumulated 12 months' retail spend upon completion of a calendar year and is referring to the total retail spend of both principal and supplementary Alliance Privilege Visa Signature Credit Card(s). The Additional Cashback will be credited into the Principal Cardholder’s Credit Card Account on the following month, upon completion of a calendar year.

Table 1

Tier	Additional Cashback Rates	Average Asset Under Management p.a. (RM)
1	0.5%	More than 300,000
2	1.0%	More than 500,000
3	2.0%	More than RM1 million
4	3.0%	More than RM3 million

Additional Cashback Illustrations are as follows:-

Example 1

– Alliance Privilege Visa Signature Cardholder(s) is an existing Alliance Privilege customer who meets the minimum average AUM per annum requirement and maintains an AUM balance upon completion of calendar year. The total retail spending value is RM120,000 per annum.

Month

Jan

Feb

Mac

April

May

June

July

August

September

October

November

December

Total AUM / RM

1.0mil

1.5mil

2.0mil

2.5mil

2.7mil

2.9mil

Average AUM per annum	RM2,050,000
Additional Cashback Rates	2.0%
Retail Spend per annum	RM120,000
Additional Cashback	RM2,400

Example 2 – Alliance Privilege Visa Signature Cardholder(s) is a new Alliance Privilege customer in month of September who meets the minimum average AUM per annum requirement and maintains an AUM balance upon completion of calendar year. The total retail spending value is RM200,000 per annum.

Month	Jan	Feb	Mac	April	May	June	July	August	September	October	November	December
Total AUM / RM	-	-	-	-	-	-	-	-	300,000	500,000	800,000	1.1mil

Average AUM per annum	RM675,000
Additional Cashback Rates	1.0%
Retail Spend per annum	RM200,000
Additional Cashback	RM2,000

Example 3 – Alliance Privilege Visa Signature Cardholder(s) is an existing Alliance Privilege customer who meets the minimum average AUM per annum requirement but did not maintain an AUM balance upon completion of calendar year. The total retail spending value is RM300,000 per annum.