Debit Card Authorization Form - Malaysia

Debit Card Authorization Form Template for Malaysia

A standardized legal document used in the Malaysian banking sector that enables account holders to authorize their financial institution to issue and maintain a debit card linked to their bank account. The form complies with Malaysian banking regulations, including the Financial Services Act 2013 and Personal Data Protection Act 2010, and contains provisions for card issuance, usage terms, transaction limits, and cardholder obligations. It serves as a formal agreement between the bank and the customer, outlining the terms of debit card usage, security measures, and associated services while ensuring compliance with local banking and data protection requirements.

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What is a Debit Card Authorization Form?

The Debit Card Authorization Form is a critical document in Malaysian retail banking operations, designed to establish a formal agreement between financial institutions and customers for debit card services. This document is required when customers wish to obtain a debit card linked to their bank account or when existing cardholders need to modify their card services. The form incorporates requirements from Malaysian banking regulations, including the Financial Services Act 2013 and Bank Negara Malaysia guidelines, ensuring proper documentation of customer consent and compliance with data protection laws. It captures essential information such as customer details, account information, requested card features, transaction limits, and authorization for various banking services. The document serves as both a legal record of the customer's consent and a reference document outlining the terms of the debit card service relationship.

What sections should be included in a Debit Card Authorization Form?

1. Account Holder Information: Details of the account holder including full name, IC/Passport number, contact information, and address

2. Bank Account Details: Specific bank account information including account number and branch details

3. Card Details: Information about the requested debit card including type of card and linked accounts

4. Authorization Declaration: Explicit authorization for the bank to issue the debit card and process transactions

5. Terms and Conditions: Standard terms governing the use of the debit card and associated services

6. Card Usage Limits: Daily and transaction limits for ATM withdrawals and purchases

7. Cardholder Obligations: Responsibilities of the cardholder regarding card security and usage

8. Data Protection Notice: Statement on collection, use, and protection of personal data as per PDPA 2010

9. Signature and Date: Space for account holder's signature and date of authorization

What sections are optional to include in a Debit Card Authorization Form?

1. Supplementary Card Request: Section for requesting additional cards for authorized users, used when supplementary cards are needed

2. International Transaction Activation: Optional authorization for overseas transaction capability, included when international usage is requested

3. Internet Banking Registration: Section for signing up for online banking services, included when customer wants internet banking access

4. SMS Alert Service: Option to register for transaction notification services, included when customer wants SMS alerts

5. Insurance Coverage Option: Optional card and purchase protection insurance registration, included when insurance is offered

What schedules should be included in a Debit Card Authorization Form?

1. Schedule A: Fee Structure: Detailed breakdown of all applicable fees including annual fees, replacement fees, and transaction charges

2. Schedule B: Transaction Limits: Comprehensive list of daily and transaction limits for different types of transactions

3. Schedule C: Merchant Categories: List of merchant categories where the card can be used and any specific restrictions

4. Appendix 1: Required Documents: Checklist of supporting documents required for card application

5. Appendix 2: Card Features: Detailed description of card benefits, rewards, and special features

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Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

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Authorisation Form

A Malaysian legal document granting specific powers or permissions from an authorizer to an authorized representative, compliant with Malaysian contract law.

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Generate a Bespoke Document

Download a Standard Debit Card Authorization Form

Review your own Debit Card Authorization Form

What is a Debit Card Authorization Form?

What sections should be included in a Debit Card Authorization Form?

What sections are optional to include in a Debit Card Authorization Form?

What schedules should be included in a Debit Card Authorization Form?

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Alex Denne

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