VISA Gold Credit Card

• No interest will be levied (except on cash advances) if full payment is made on or before the due date. You will enjoy up to 51 days free of interest (depending on the transaction date), provided the previous months total outstanding is paid by the due date in full.
• If full payment is not settled on or before the due date, interest will be calculated from respective transaction dates up to the billing date on reducing balance basis. 
• Interest/ Finance charges will be charged if full payment is made after the due date
• Interest will not be charged for purchases billed in current month but will be charged on the following month (from the transaction date) if not settled in full by the due date.
• Interest to a particular transaction will be charged from the transaction date on the following month and there onward from the billing date, if rolled over.
• Payments are first applied to charges and then to purchase and cash advances on FIFO basis.
• Cash advances will accrue interest from the date of transaction until it is paid in full.
• Sample Interest calculation.

Loss of card should be immediately reported to our 24/7 Seylan Customer Care Centre via hotline +94112008888 and should be follow up with a letter handed over to the nearest branch or via Internet Banking - User Message. Once reported, the customer will not be liable for any transactions performed subsequent to informing the loss of the card to the bank.

It will take a minimum of 5 working days and maximum of 7 working days once the relevant documents are handed to the branch / sales officer.

Minimum Payment = 3.00% of total outstanding (purchases and cash advance) + 100% of Interest + fees and the overdue amount (if any).

If the customer fails to pay the Minimum Payment by 3.00 PM on the due date.

Example : Late Payment Fees

*Late Payment Fee will be reflected on 28th February 2022 Billing Statement. 

If the customer exceeds the approved Credit Limit at any given date of the particular billing cycle, an over-limit fee will be charged.

Dynamic Currency Conversion

Dynamic Currency Conversion (DCC) is the conversion of the purchase price of goods or services from the currency in which the purchase price is displayed to the cardholder's billing currency. That currency then becomes the transaction currency, regardless of the merchant's local currency.

DCC is not a Visa / Master service, but merchants and ATMs offer it through their acquiring bank. At checkout, the merchant or ATM may convert the advertised price to the currency agreed by the cardholder, and usually assesses a conversion-related markup (over a wholesale exchange rate or government-mandated rate). The cardholder must be offered a choice to accept or decline the DCC and must actively choose the DCC option prior to the merchant or ATM processing the transaction. The merchant or ATM must accept the cardholder's choice; if the cardholder refuses DCC, the merchant or ATM must process the transaction in their local currency

Multi-Currency Transactions – LKR

Transactions performed locally in LKR at merchant outlets / web sites but the Acquiring Bank of the Merchant is not a Locally registered Bank. Hence the Bank to Bank settlement is in Foreign Currency.