These Terms & Conditions govern the use of the JomSettle loan payment service provided by Setlary (“Setlary”, “we”, “our”, or “us”). By using JomSettle, you (“User”) agree to be bound by these Terms.
These Terms & Conditions govern the use of the JomSettle loan payment service provided by Setlary (“Setlary”, “we”, “our”, or “us”). By using JomSettle, you (“User”) agree to be bound by these Terms.
1.1 JomSettle is a feature that enables eligible users to utilize their available earned wage credit to make loan payments (house or car loans) to their respective financial institutions.
1.2 The service is made available as part of Setlary’s Earned Wage Access (EWA) platform.
2.1 Users may link only one (1) housing loan account and one (1) car loan account at any time.
2.2 The linked loan account must be registered under the User’s own legal name as per Setlary account records.
2.3 Setlary reserves the right to request supporting documents to verify loan ownership.
3.1 Loan payments made through JomSettle must be funded solely from the User’s available earned wage credit within the Setlary platform.
3.2 No other funding sources are permitted for this service.
3.3 Setlary reserves the right to impose minimum and maximum transaction limits for JomSettle payments at its sole discretion.
3.4 Setlary relies on the earned wage data provided by the User’s employer. In the event of any retroactive adjustment, calculation error, or dispute by the employer that results in a deficit or negative balance in the User's earned wage credit after a JomSettle payment has been disbursed, Setlary reserves the right to recover the deficit. Setlary may automatically deduct the owed amount from the User’s future earned wage credit or require direct repayment from the User within a specified timeframe.
4.1 No service fee will be charged for the use of JomSettle at the time of payment submission.
4.2 Setlary reserves the right to revise the fee structure in the future with prior notice.
5.1 The User is solely responsible for ensuring that all loan account details entered (including account number and bank information) are accurate and complete.
5.2 Setlary shall not be responsible for any loss, rejection, delay, or misdirected payment arising from incorrect or incomplete information provided by the User.
5.3 All JomSettle payment requests submitted by the User are final and irrevocable. Once a transaction is initiated, the User cannot cancel, reverse, or amend the payment details. Setlary assumes no obligation to attempt to recall or reverse a payment once it has been processed.
6.1 Loan payments are subject to bank processing timelines and clearing procedures.
6.2 Setlary shall not be liable for any delay, failure, or disruption in loan payment processing resulting directly or indirectly from acts of God, natural disasters, pandemic lockdowns, government or regularoty actions, strikes, banking systems failures, cyberattacks, public holidays, technical issues, or any other circumstances beyond Setlary’s reasonable control.
6.3 Users are advised to submit payments well in advance of their loan due date to avoid late payment penalties.
7.1 In the event a loan payment is rejected or returned by the receiving financial institution, Setlary will credit the refunded amount back to the User’s Setlary available balance.
7.2 Setlary is not responsible for the timeframe taken by the receiving bank to process and return the rejected funds.
7.3 Setlary reserves the right to deduct any penalty or processing fee imposed by the receiving bank for the failed transaction from the refunded amount.
7.4 Setlary reserves the right to set off any amounts owed by the User to Setlary (including but not limited to unpaid fees, penalty deductions, or reversed transaction deficits) against any current or future available earned wage credit balance held by the User on the Setlary platform.
8.1 Setlary acts solely as a payment facilitation platform.
8.2 Setlary shall not be liable for:
8.3 Setlary is an independent payment facilitator and is not affiliated with, endorsed by, or acting as an agent for the User’s financial institution. Using JomSettle does not alter or modify the User's existing loan agreement and obligations with their respective bank.
8.4 The User agrees to indemnify, defend, and hold harmless Setlary}, its affiliates, directors, officers, employees, and agents from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or related to: (a) the User’s breach of these Terms & Conditions; (b) any inaccurate, incomplete, or fraudulent information provided by the User; or (c) any dispute between the User and their employer or financial institution regarding the loan account or earned wage credit.
8.5 The JomSettle service is provided on an "as is" and "as available" basis. To the fullest extent permitted by law, Setlary disclaims all warranties, express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, and non-infringement. Setlary does not warrant that the service will be uninterrupted, error-free, or entirely secure from unauthorized access.
9.1 Setlary reserves the right, at its sole discretion, to suspend, reject, cancel, or terminate any loan payment request or the JomSettle service at any time without prior notice.
9.2 Setlary may also suspend or terminate access if misuse, fraud, or policy violations are suspected.
10.1 By utilizing the JomSettle service, the User explicitly consents to Setlary collecting, using, processing, and disclosing their personal and financial data (including but not limited to name, NRIC, loan account numbers, and employment details) to third-party payment gateways, financial institutions, and regulatory bodies as necessary to facilitate the loan payment. All personal data shall be processed in accordance with the Personal Data Protection Act 2010 (PDPA) and Setlary’s Privacy Policy.
11.1 Setlary reserves the right to amend these Terms & Conditions at any time. Continued use of JomSettle after updates constitutes acceptance of the revised Terms.
11.2 If any provision of these Terms & Conditions is found by a court of competent jurisdiction to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect, and the invalid provision shall be deemed modified to the minimum extent necessary to make it valid and enforceable.
12.1 Setlary strictly adheres to the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA). Setlary reserves the right to monitor, flag, freeze, or reject any transaction, and to suspend the User’s account without notice, if Setlary reasonably suspects fraudulent activity, money laundering, financing of terrorism, or any other illegal conduct. Setlary may report such activities to the relevant regulatory and law enforcement authorities without prior notice to the User.
13.1 These Terms & Conditions shall be governed by and construed in accordance with the laws of Malaysia. Any disputes arising from this service shall be subject to the exclusive jurisdiction of the Malaysian courts.
This Agreement is executed in the English language. In the event of any discrepancy, inconsistency, or conflict between the English version and any translation hereof into another language, the English version shall prevail and take precedence for all purposes.