Priority Banking Terms and Conditions

Terms and Conditions

PRIORITY BANKING SERVICES AND PRIVILEGES

Terms and Conditions
In these terms and conditions, “you” refers to you, your joint account holder or your authorized person who are Priority Banking (“PB”) customers of Standard Chartered Group. The additional services we provide to you as a Priority Banking customer are governed by these terms and conditions. Should there be any inconsistencies to these Terms & Conditions; the version on the website on www.sc.com/bn will prevail.


1. Membership
1.1. You will need to meet our eligibility criteria to become a Priority Banking Customer. Your admission to Priority Banking membership is at our discretion.

1.2. Continuation of your Priority Banking relationship is subject to fulfilment of the eligibility criteria. We will review your relationship with us on a regular basis and its continuation will be at our discretion The Bank reserves the right to end your PB membership at any time with prior notification to you in accordance with our usual practices.

1.3. You may end your Priority Banking membership by giving us written notice.

2. Eligibility criteria for Priority Banking

2.1. To enjoy the exclusive Priority Banking membership and all the benefits and privileges that come with it, simply maintain a minimum of B$100,000 in deposits and investments (referred to as Assets Under Management “AUM”) or take up B$400,000 in housing loans with us; or maintain a monthly credit of more than B$10,000 in your Payroll Account with us.

2.2. Customers who earn a gross salary/ income of minimum B$10,000 per month and credit their salary to us may receive complimentary Priority Banking membership for 12 months. In order to remain as a PB member the customer must then reach the minimum AUM threshold of B$100,000 at the end of the 12 months. In the event the customer does not reach the minimum AUM in the time stipulated, they will be transferred back to their original client segment with notification to them.

3. Fees and Charges
3.1. We may charge you fees for providing you with the Priority Banking services. The fees are set out in the tariff sheet under Priority Banking and may change from time to time. You can request for a copy of the Priority Banking tariff sheet or the specific charges for a particular Priority Banking service by contacting your Relationship Manager, via the Client Care Centre, or the Standard Chartered Bank website www.sc.com/bn.


4. Information we disclose
You consent to each member of the Standard Chartered Group, its officers, employees, agents and advisers disclosing information relating to you (including details of the accounts, products or any security) to our head office and any other member of the Standard Chartered Group in any jurisdiction and anyone we consider necessary to provide you with Priority Banking Services.

You consent to us contacting you at the address, email 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
Priority Banking services may not be available in some countries and are subject to local regulations. We may vary or withdraw the services at anytime. You can find out about the current services available to you by contacting your Relationship Manager, via the Client Care Centre, or visiting our branches or the Standard Chartered Bank website in your country.

We reserve the right not to provide you or cease to provide you with any Priority Banking services and its accompanying benefits (if any) if you are downgraded from the Priority Banking platform for any reasons whatsoever. We will attempt to notify you as soon as possible if this happens but we do not need to give you any reason for doing this.

5.1 Household Recognition

5.1.1 Household recognition allows for certain family members to be admitted to PB membership. PB membership under household recognition may be extended to your spouse and children or, in the instance that you are not married, to your parents, namely your father and mother.

5.1.2 The admission of your family members’ to PB membership is subject to your family members holding eligible accounts with us and you notifying us of their accounts. We may end your family members’ Priority Banking membership at anytime with notification to you.

5.1.3 Continuation of your family member’s Priority Banking relationship(s) is subject to your fulfilment of the eligibility criteria. We will review your relationship with us on a regular basis and its continuation will be at our discretion.

5.1.4 As a Household Priority Banking member, you agree to be recognised as part of the main applicant’s household. Any of your accounts / join accounts balances would be included in determining whether the household meets the Priority Banking criteria.

5.1.5 In the event that no household members meet the Priority Banking eligibility criteria, the Bank reserves the right to convert your banking relationship or the banking relationship of any or all of your household members who were accorded Priority Banking membership by us though our Household Recognition to Personal Banking relationship ( if any).

5.1.6 As a primary customer, you may at any point in time give us in writing instructions to end the Household Recognition service which is extended to your family members.

5.1.7 In the event you choose to voluntarily transfer out of the Priority Banking platform, we will not notify your household members.

5.1.8 The Bank reserves the right to communicate with the household’s primary customer only.

5.2 Global recognition

5.2.1 The Global Recognition service may not available in all countries.

5.2.2 The Global Recognition service is subject to you notifying us in writing of the details of the accounts you hold with us in each country.

5.3 Preferential foreign currency exchange
Preferential currency exchange rates are only available in countries where we offer preferential foreign currency exchange rates for local Priority Banking customers.

5.4 Global Link
The Global Link service is provided at our discretion subject to the terms in the Global Link Guidelines. Where this service is available the Global Link Guidelines will be made accessible through Standard Chartered Bank Online Banking.

5.5 Free outward telegraphic transfers
Commission fees and cable charges are waived for fund transfers between Standard Chartered accounts to and from the account holder’s own name. Any transfers to third-party accounts will be subjected to standard tariffs and charges.

5.6 Emergency cash
You may withdraw the local currency equivalent of up to US$5,000 daily when using the Emergency Cash service. The Emergency Cash service is subject to terms contained in the Emergency Cash application form.

5.7 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.


Standard Chartered Securities (B) Sdn Bhd

Standard Chartered Securities (B) Sdn Bhd is a wholly owned subsidiary of Standard Chartered Bank and forms part of the Standard Chartered Group. Standard Chartered Securities (B) Sdn Bhd was incorporated on 4 June 2016 in Brunei Darussalam with limited liability by the Registrar of Companies and is authorised by Autoriti Monetari Brunei Darussalam.

Standard Chartered Securities (B) Sdn Bhd provides investment advisory and portfolio management services through a team of Financial Planning certified and licensed Investment Counsellors and Relationship Managers.

Standard Chartered Securities (B) Sdn Bhd distributes Unit Trusts, Bonds and Structured Notes.
Standard Chartered Bank Brunei distributes Premium Currency Investment and Structured Deposits.

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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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