NETS
to make goodwill refunds to i-chqs customers
19 Jan 2005
Singapore’s
electronic payments leader, NETS (Network for Electronic
Transfers (Singapore) Pte Ltd), today announced it
will on an exceptional basis and with no admission
of liability provide goodwill refunds to customers
who purchased i-chqs dining vouchers issued by Indigoz
Exchange Pte Ltd (Indigoz). These were i-chqs that
were bought using NETS EFTPOS or CashCard from Standard
Chartered Bank branches, 7-Eleven convenience stores,
Post Offices and NETS Sales & Customer Service
Centre as part of a dining promotion between 25 November
2004 and 14 January 2005 and rejected by participating
restaurants.
Announcing the news, NETS CEO, Poh Mui Hoon, said:
“NETS has decided to make goodwill refunds to
eligible customers, although we are not obliged to
do so. We have made this goodwill gesture because
of the confidence that the public has placed in us.”
The move comes after Singapore’s Commercial
Affairs Department (CAD) announced last week that
it was investigating Indigoz Exchange Pte Ltd, which
is the issuer of i-chqs dining vouchers. Subsequent
to this announcement the participating restaurants
have stopped accepting i-chqs.
The Consumer Association of Singapore (CASE) welcomed
NETS' action.
“CASE fully supports NETS’ decision and
the process in providing goodwill refunds as it is
in the best interests of consumers,” said CASE
Executive Director, Seah Seng Choon.
In order to assess the validity of i-chqs customers’
claims for the goodwill refund, NETS is currently
gathering personal details and purchase particulars
from those with dishonoured i-chqs.
Customers who have dishonoured i-chqs bought using
NETS or CashCard can provide this information by logging
onto www.nets.com.sg
and filling in i-chqs Customer Details
Form by 3 February 2005, after which no claims will
be accepted. Customers can check on the status of
their claim by logging onto www.nets.com.sg.
Those who do not have Internet access can file their
claims either at NETS office at 298 Tiong Bahru Road
#04-01/06 Central Plaza, Singapore 168730, or the
CASE office at 170 Ghim Moh Road, #05-01 Ulu Pandan
Community Building Singapore 279621.
NETS will then validate their i-chqs purchase. NETS’
decision on the validity of the claim for the goodwill
refund is final and no correspondence will be entered
into.
After the validation process, NETS will contact the
purchasers of i-chqs whose claims for the goodwill
refund have been successful. They will be asked to
come to NETS office in person to get their goodwill
refund. The final date for collection of goodwill
refunds is 24 March 2005.
Customers must present in person the dishonoured i-chqs,
their identification card, their NETS bank-enabled
ATM cards or CashCard and proof of purchase (see below).
NETS recommends that i-chqs customers ensure the information
provided is as detailed and accurate as possible to
ensure that claims can be assessed quickly and efficiently.
The calculation of the goodwill refund is as follows:
The calculation of the goodwill refund is as follows:
S$100/$140 x $ (total
dishonoured i-chqs value given) = goodwill refund
Eg. S$100/$140
x $140 = S$100
NETS will retain the dishonoured
i-chqs and credit the goodwill refund to customers’
designated bank account or CashCard.
Important dates
20 January – Customers with dishonoured i-chqs
bought using NETS or CashCard can begin submitting
their claims at www.nets.com.sg
3 February – All claims must be submitted to
NETS by this date
24 March – Final day for collecting refunds
from NETS
Claims Procedure
- You must have proof of purchase
(see below) to make a claim
- Visit www.nets.com.sg
and click on the i-chqs Customer Details Form icon
- Complete the form, confirm
the details and a reference number will be automatically
generated at the end of the process
- Keep the reference number
for follow-up with NETS and for check the status
of their claims
- NETS will try to complete
processing the claim within five working days of
receipt
The purchasers
of i-chqs must present in person dishonoured i-chqs,
identification card, NETS bank-enabled ATM cards or
CashCard and proof of purchase
Proof
of purchase
- NETS EFTPOS or CashCard transaction
receipt; or
- Bank statement/passbook showing
the POS transaction for the purchase of the i-chqs;
or
- CashCard statement print-out;
or
- CashCard that was used to
purchase the i-chqs
Collection of refunds
To collect the refund, claimants
must present in person and must produce their:
- Dishonoured i-chqs,
- Identification card,
- NETS bank-enabled ATM card
or CashCard and
- Proof of purchase (as described
above) in support of their claims
