PRIORITY BANKING SERVICES AND PRIVILEGES
Terms and Conditions
In these terms and conditions, “you” refers to you, your joint account holder or your authorised person who are Priority Banking clients of Standard Chartered UAE.
The additional services we provide to you as a Priority Banking client are governed by these terms and conditions. These Terms & Conditions should be read in conjunction with the Client Terms, product Terms & Conditions and Service & Price Guide.
1.1. To become a Priority Banking client, you are required to meet the eligibility criteria as per Section 2 below. Priority Banking membership admission is at the Bank’s discretion and the Bank reserves the right to end your Priority Banking membership at any time at its discretion, by providing you prior notice.
1.2. Continuation of your Priority Banking relationship is subject to fulfilment of the eligibility criteria. Your relationship with the Bank will be reviewed on a regular basis and continuation in Priority Banking will be at the Bank’s discretion.
1.3. Priority Banking membership is voluntary and you hold the option to end your Priority Banking membership at any time by giving us written notice.
2. Eligibility criteria for Priority Banking
To enjoy the exclusive Priority Banking membership and all the benefits and privileges associated with it, you will need to meet any one of the following eligibility requirements:
|Products||Eligibility Criteria||Minimum Relationship Amount
|Minimum Relationship Amount
|Current & Savings Accounts||Accounts Balance
(per month average balance across one or all accounts)
|Term Deposits||Accounts Balance
(per month average balance across one or all accounts)
(per month average balance across one or all accounts)
|Mortgage||Mortgage Balance||2,500,000||Not applicable in other currencies|
(per month for 12 months)
* Please refer to Section 5.1
3. Fees and charges
3.1. Fees and charges may be charged for the provision of selected Priority Banking services. The fees are set out in the Service and Price Guide and may change from time to time.
3.2. Priority Banking membership is subject to you meeting our eligibility criteria. If the eligibility criteria are not met, we may at our discretion either:
3.2.1. Impose an account maintenance fee (as stipulated in the Service & Price Guide); or
3.2.2. Convert your banking relationship to Personal Banking relationship, including the banking relationship of any or all of your household members (if any) who were accorded Priority Banking membership by us through our Household Recognition Programme
3.2.3. Cease to or suspend the provision of any Priority Banking Services until you meet the eligibility criteria.
4. Information we disclose
You consent to each member of the Bank, its officers, employees, agents and advisers disclosing information relating to you (including details of the accounts, products or any security) to any employee of the Bank in any jurisdiction and anyone we consider necessary in order to provide you with Priority Banking Services. You consent to us contacting you at the address, e-mail address and phone numbers you have provided to us, to give you information on other products and services that we, or our strategic partners, may offer.
5. Priority Banking Services
The following Priority Banking Services are available in UAE. Subject to local regulations, we may vary or withdraw the services. You can find out the current services available to you by contacting your Relationship Manager, via phone banking, visiting our branches or from the Standard Chartered UAE website.
We reserve the right not to provide you or cease to provide you with any Priority Banking Services and its accompanying benefits if you are downgraded from the Priority Banking platform for any reasons whatsoever. We will attempt to notify you regarding your account status change as soon as possible if this happens.
5.1. Household Recognition
5.1.1. Household Recognition refers to complimentary Priority Banking membership extended to your spouse and children upon request
5.1.2. The admission of your family members to Priority Banking membership is subject to you, as the ‘Primary Client’ fulfilling the eligibility criteria stated in section 2 above and your family members, the ‘Dependents’ holding eligible accounts with us. Deposits and/or investments, or mortgage loans of household members will not be amalgamated/combined while determining the Primary Client’s eligibility.
5.1.3. You would be required to notify us of their accounts to admit them into Priority Banking.
5.1.4. The Bank reserves the right to vary, suspend or cease Priority Banking membership extended to your dependents at its discretion and will notify you accordingly.
5.1.5. Continuation of your family members’ Priority Banking relationship(s) is subject to your fulfilment of the eligibility criteria stated in the section 2 above.
5.1.6. We will review your relationship with us on a regular basis and its continuation will be at our discretion.
5.1.7. As a dependent, you agree to be recognised as part of the Primary client’s household. In the event that Primary Clients do not meet the Priority Banking eligibility criteria, the Bank reserves the right to convert your banking relationship to Personal Banking relationship, including the banking relationship of any or all of your household members (if any) who were accorded Priority Banking membership by the Bank through our Household Recognition Programme
5.1.8. As a Primary Client, you may at any point in time give us in writing to end the Household Recognition service which is extended to your family members.
5.1.9. The Bank reserves the right to communicate with the household’s Primary Client only, any changes to voluntarily migrate from Priority Banking to another segment within the Bank will not be notified to your household members.
5.2. Global Recognition
Through Global Recognition, you can meet the Priority Banking eligibility criteria with Standard Chartered Bank in one jurisdiction and have your account(s) in other jurisdictions upgraded to Priority Banking as well.
5.2.1. Global Recognition is available in selected jurisdictions within SCB’s footprint and we will continue to vary / expand the list of applicable countries.
5.2.2. Global Recognition is subject to you notifying us in writing of the details of the accounts you hold with us in each jurisdiction.
5.2.3. Global Recognition is only available to your family members who have been admitted to Priority Banking membership through household recognition.
5.2.4. We will confirm your eligibility with the other jurisdiction(s) on regular basis and your relationship with SC UAE may be downgraded to Personal Banking if you are no longer meeting the Priority Banking eligibility in the other jurisdiction.
5.3. Employee Banking
By transferring your salary to your Priority Banking account, you are entitled to Priority Banking membership on your Employee Banking Salary Suite, including:
5.3.1. Waiver of the minimum relationship balance requirement upon minimum salary transfer. The Employee Banking Salary Suite for Priority Banking clients is currently available in the UAE, subject to minimum monthly salary transfer of AED 30,000 (or foreign currency equivalent).
5.3.2. For salary accounts, the Priority Banking proposition is offered for 12 months from the date of account opening or becoming a Priority client. In order to continue enjoying the features and benefits of the Priority Banking proposition beyond the initial 12-month period the client has to meet the eligibility criteria on minimum one other product as outlined in Section 2. If this criterion is not met, the features and benefits of the Priority Banking proposition will no longer be available to you and your account will be downgraded.
5.3.3. Personal Loans up to AED 1 million at competitive rates, subject to employer-level approval for personal loans. All loans are granted at the sole discretion of Standard Chartered Bank. Finance facilities and finance amounts will be dependent on individual credit evaluation and are offered at the sole discretion of Standard Chartered Bank.
5.3.4. Unlimited ATM transactions across any ATM in the UAE
5.3.5. Immediate waiver of Standard Chartered UAE Outward Telegraphic Transfer charges for fund transfers worldwide. For fund transfers, corresponding and beneficiary bank charges may apply and are not included in the offer.
5.4. Preferential foreign currency exchange
As a Priority client you will get preferential pricing on banking transactions and services, including:
5.4.1. Special fee waivers and/or discounts on your routine banking transactions and services, as outlined in the Service and Price Guide
5.4.2. No charges on international fund transfers between Standard Chartered Bank accounts. This facility is available in participating countries only. Please contact your Relationship Manager to know the participating countries. You will receive a fee reversal on remittance charges. Corresponding and beneficiary bank charges (including charges from foreign Standard Chartered entities) may apply and are not included in this.
5.4.3. Free ATM cash withdrawals worldwide on your Visa Platinum Priority Debit Card
5.4.4. Preferential foreign exchange rates, applicable to countries with preferential foreign exchange rates to local Priority Banking clients.
5.5. Global Link
The SC Online Banking platform allows you to get a consolidated view of your Standard Chartered accounts in all major countries.
5.5.1. Countries currently include Countries include Bahrain, Bangladesh, Botswana, Brunei, China, Ghana, India, Indonesia, Jersey, Kenya, Malaysia, Nigeria, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, Vietnam and Zambia and may be amended periodically.
5.5.2. The Global Link Service is provided subject to the terms in the Global Link Guidelines. These guidelines are available when you access Standard Chartered Online Banking.
5.6. Free outward telegraphic transfers
Handling commission fees and cable charges are waived for fund transfers between Standard Chartered accounts only. You will receive a fee reversal on remittance charges. Corresponding and beneficiary bank charges (including charges from foreign Standard Chartered entities) may apply and are not included in this.
5.7. Emergency Cash
Priority clients are eligible for Emergency Cash services of up to USD 5,000 in local currency equivalent, where the Bank can arrange for emergency cash to be delivered to our designated Priority Banking Centres and Travelex outlets in over 500 locations across Asia, US, Australia, New Zealand, Europe and the Middle East.
5.7.1. To avail Emergency Cash service, you will be required to call our 24-hour Priority Banking hotline on 800 4949 from within the UAE or +971 4 403 9639 from outside the UAE
5.7.2. Collection at Standard Chartered Bank branches
18.104.22.168. Limited to 1 transaction per month
22.214.171.124. Limited to USD5,000 per transaction
126.96.36.199. Handling fees, fees imposed by other banks, and other charges, if applicable, may apply
188.8.131.52. Client identification will be done by the respective Standard Chartered Bank branch
5.7.3. Collection at Travelex outlets
184.108.40.206. You may only collect emergency cash from Travelex outlets if Standard Chartered Bank does not have branches in that country
220.127.116.11. Before collecting emergency cash, you will need to produce some form of identification (with your photograph on it) so that Travelex can verify your identity.
18.104.22.168. Limited to 1 transaction per month
22.214.171.124. Limited to USD2,000 per transaction
126.96.36.199. Handling fees and other charges (if applicable) may apply. Any exchange rate conversion will be effected at our prevailing rate of exchange for that currency or any rate prescribed by any relevant organisation involved in providing the emergency cash services. Fees imposed by other banks may apply
5.8. Meet and Greet Services
Meet and Greet Services are available upon arrival by a Guest Services Agent at Dubai International Airport Terminals 1 and 3 and departure and arrival at Abu Dhabi International Airport.
5.8.1. Access to the airport lounge whilst immigration formalities are completed
5.8.2. Assistance with duty free shopping and exit from the Airport
5.8.3. Assistance with the Passenger for a maximum of 10 minutes after exit from the Airport
5.8.4. Priority Banking clients are entitled to receive four (4) free Meet and Greet Services in a year from a single service provider or multiple service providers. After the fourth service clients will be charged an amount as defined by the service providers.
5.8.5. The request for Meet and Greet services should be made at least one (1) working day in advance.
5.8.6. The request for Meet and Greet services is processed exclusively for the benefit of the passenger/s for whom it has been booked and is valid only in respect of the date and flight number registered. Any changes in the date and flight information should be advised to your relationship manager not less than one (1) working day prior to the commencement of the services required.
5.8.7. All cancellation requests should be made at least one (1) working day prior to the commencement of the services required.
5.8.8. No shows charges amounting to the full price of the service will be levied for the passenger bookings that were not cancelled accordingly.
5.8.9. The service provider retains the right to turn down any request for services at the time of the initial booking irrespective of how far in advance the request was made. The condition will only be applied when the service provider is fully booked for a particular flight or period of the day on any given date.
5.8.10. Services offered to clients may be amended by the provider at their discretion
5.8.11. Any services provided by third parties are subject to their terms and conditions and we will not be liable for any loss you incur in connection with such services.
5.8.12. For bookings and more information, please contact your Relationship Manager
5.9. Services provided by third parties
From time to time we may introduce you to other Priority Banking privileges and service provided by third parties. Any services provided by third parties are subject to their terms and conditions and we will not be liable for any loss you incur in connection with such services.