1. The Campaign Period will run from 1 May 2018 until 30 June 2018 (both dates inclusive).
2. The offer is available to all new Priority Banking Clients of Standard Chartered Bank UAE, (hereinafter “the Bank”).
3. All new Priority Clients who opened accounts during this period and meet the campaign criteria will be eligible for rewards.
4. This offer is only for new-to-bank Priority clients who have not been Priority Banking clients of the Bank within the past 12 months and/or do not hold Existing Current and/or Savings Account and/or Term Deposit accounts with the Bank in its Personal Banking, Priority Banking or Private Banking segments.
5. For the purpose of this campaign, eligible products for AUM (Asset Under Management) computation are Current and/or Savings Account, Term Deposits, Investments, including Mutual Funds, Structured Products, Wrap products, Fixed income securities, Single premium insurance.
6. To be eligible for the cashback (hereinafter “the Reward”) the client must successfully sign up for Priority Banking account and maintain an AUM balance as detailed below. Minimum AUM requirement for Priority Banking is AED 370,000 (or foreign currency equivalent).
7. Eligible clients will be given up to 2 months from the month of account opening (“Qualification Date”, mentioned below) to fund the balance and qualify for the campaign.
8. The client must maintain the eligibility AUM threshold until the “Payout Month” mentioned in the table above in order to get the Cashback Reward.
9. The client will receive an additional AED 1,000 cashback if he/she books an Investment and/or Insurance product on or before the qualification date and/or an additional AED 500 cashback if he/she applies and qualifies for a Visa Infinite Credit Card on or before the qualification date.
10. Cashback Rewards for New clients whose spouse, sibling, parent or child is an existing client will be capped at a maximum of AED 1,000 plus any Additional rewards on Investment / Insurance and/or Visa Infinite Credit Card.
11. Internal transfer of funds from spouse, siblings, parents or children’s accounts into client’s new Priority banking account will be excluded from AUM calculations.
12. Minor / Guardianship accounts are excluded from the campaign. In order to be eligible for the Additional Cashback Rewards, the client must be eligible for Cashback Reward on New Funds.
13. Additional Cashback Reward on Investment/Insurance is applicable on successful investment in Mutual Funds, Structured Products, Wrap products or Fixed income securities or on successful issuance of Single Premium, Term Life or an Investment-linked insurance policy.
14. Additional Cashback Reward on Visa Infinite is applicable on successful applications and final approval, which will be given only after verification of all information with documents and is at the sole discretion of the Bank. Clients will be required to activate their credit card, successfully generate their Credit Card PIN and conduct at least one (1) spend transaction. Clients whose application is rejected for any reason, existing Credit Card holders, Credit Card holders who are upgrading their Standard Chartered Credit Card and clients who have closed their Standard Chartered Credit Card within the last six (6) months from the date of application will not be eligible for the Additional Cashback on Visa Infinite.
15. Clients will be intimated by the Priority Relationship Managers upon qualification. The bank will credit the cashback into the client’s Priority account.