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Announcement of Exiting the Stored Value Facilities Business

2020-09-11

According to a resolution passed by Chong Sing Holdings Fintech Group Limited, the sole shareholder controller of K & R International Limited (“K&R” or the “Company”) at a shareholder meeting of the Company, K&R shall exit from stored value facility business in an orderly manner. K&R shall execute the “Redemption Arrangement” stated below with its prepaid card holders in phases. If you are holding one of our co-brand prepaid cards, please contact your distributor as soon as possible for more assistance

 

 

Redemption Arrangement of K&R’s Stored Value Facility (i.e. Prepaid Cards)

 

Phase I As of today till 30 November 2020

During Phase I, ATM cash withdrawal and POS consumption services of all valid prepaid cards shall remain unchanged. You can check your card balance by logging into K&R’s official website. K&R shall provide onsite redemption service at K&R’s office in Hong Kong.

 

- For Valid Cardholders: If your prepaid card is still valid, all functions shall remain unchanged in Phase I. We strongly advise you to use up all remaining funds in your prepaid card before 30 November 2020.

 

- For Invalid Cardholders (on or after 1 March 2020): If your prepaid card has expired on or after 1 March 2020, K&R shall automatically extend the expiry date of your prepaid card to 30 November 2020 for your convenience. We strongly advise you to use up all remaining funds in your prepaid card before 30 November 2020

 

- For Invalid Cardholders (before 1 March 2020): If your prepaid card is expired before 1 March 2020, you may apply to extend the expiry date of your card to 30 November 2020 by providing the following documents to K&R in person, or by registered post / courier / email:

1. A filled and signed Redemption Form, selecting “Apply to Extend Expiry Date”; and

2. A copy of the cardholder’s ID card. If you are holding a PRC Resident Identity Card, please provide both the front and back pages.

3. For Anonymous Cards, please provide a copy of the front and back of your physical card(s) to K&R for verification.

If your application is successful, K&R will reactivate your card(s) within 5 working days, with an expiry date up to 30 November 2020.

 

- Forgot Password or Redemption: If you have forgotten your password, or you would like to redeem your card balance by cash / cheque / telegraphic transfer (“TT”), please provide the following documents to K&R in person, or by registered post / courier / email:

1. A filled and signed Redemption Form, selecting the preferred payment method; and

2. A copy of the cardholder’s ID. If you are holding a PRC Resident Identity Card, please provide both the front and back pages.

3. For Anonymous Cards, please provide a copy of the front and back of your physical card(s) to K&R for verification.

If your application is successful, K&R will issue a cheque to you within 10 working days, or complete the TT instruction within 15 working days. For redemption in cash or cheque, you may make an appointment with K&R to collect your funds at K&R’s office in Hong Kong. Please refer to the Redemption Form for details.

 

 

Phase II From 1 December 2020 to 15 May 2021

All prepaid cards will be terminated and expired on 1 December 2020.

During Phase II, you may apply to redeem your money by providing the following documents to K&R in person, or by registered post / courier / email:

1. A filled and signed Redemption Form, selecting your preferred payment method by cash / cheque / TT; and

2. A copy of the cardholder’s ID. If you are holding a PRC Resident Identity Card, please provide both the front and back pages.

3. For Anonymous Cards, please provide a copy of the front and back of your physical card(s) to K&R for verification.

If your application is successful, K&R will issue a cheque to you within 10 working days, or complete the TT instruction within 15 working days. For redemption in cash or cheque, you may make an appointment with K&R to collect your funds at K&R’s office in Hong Kong. Please refer to the Redemption Form for details.

All redemption service and K&R’s official website will cease on 15 May 2021.

 

 

Phase III From 1 June 2021 onwards

If you would like to redeem your card balance on or after 1 June 2021, you may apply to the designated law court and will need to bear the relevant charges. Detailed procedures will be published before 31 May 2021.

From today onwards, all the fee charges will follow the Global Express Prepaid Card Fee Schedule (Standard Price) published on our website.

Should you have any questions, please feel free to contact us.

 

CONTACT US

Address : Room 3309, 33/F, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong

Tel : ( 852 ) 2517 1933

Email: card@kr-int.com

Operating hours: Monday to Friday (except public holidays) 10:00-17:00

Redemption Form(TraditionalChinese) / Redemption Form(SimplifiedChinese)