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Terms and Conditions for Relationship Rewards

1. Relationship Rewards refers to points rewarded to Priority Banking customers holding a valid principal VISA Infinite Credit Card account for Banking Products set out in Clause 2.

2. Banking Products includes Current & Savings Accounts, Fixed Deposits, Investments and Home Loans.

3. To qualify for the Relationship Rewards, there must be at least one (1) retail spending on the Standard Chartered Priority Banking Visa Infinite Card each calendar month.

4. The Relationship Rewards points will be credited into the valid Priority Banking Visa Infinite Card monthly.

5. Standard Chartered Priority Banking Visa Infinite Cards that are invalid, delinquent or closed will not qualify for the Relationship Rewards.

6. Relationship Rewards are only awarded on personal Current and Savings Accounts, Fixed Deposits, Investments and Home Loans where the Principal Visa Infinite cardmember is the primary account holder. Current and Savings Accounts, Fixed Deposits, Investments and Home Loans that are closed within the previous calendar month will not earn any points.

7. The Bank reserves the right to award the Relationship Rewards to only ONE of the account holder, where the Priority Banking account is jointly owned.

8. The qualifying balance of Current and Savings Accounts is the total monthly net average credit balance of all local and foreign currency accounts of the previous calendar month from the Visa Infinite Card statement. The maximum points that can be granted for Current and Savings Accounts is 1,000 points per month.

9. The qualifying balance of Fixed Deposits is the total monthly average balance of all local and foreign currency Fixed Deposits of the previous calendar month from the Visa Infinite Card statement. The maximum points that can be granted for Fixed Deposits is 1,000 points per month.

10. The qualifying balance of Investments is the total month end balance for Unit Trusts, Premium Currency Investment, Structured Deposits, Medium Term Notes and other investment products of the previous calendar month from the Visa Infinite Card statement. The maximum points that can be granted for Investments is 1,000 points per month.

11. The qualifying balance of Home Loan is the outstanding balance of all Home Loans of the previous calendar month end from the Visa Infinite Card statement. Loan amounts that are approved but not disbursed do not qualify. The maximum points that can be granted for Home Loans is 1,000 points per month.

12. Points earned is set at 5 points for every BND10,000 qualifying balance.

13. The period used for balance calculation for all the products in Relationship Rewards is based on calendar month;
e.g. 1 January - 31 January, 1 June - 30 June, and so forth.

14. The methods used to compute qualifying balances are at the sole discretion of the Bank.

15. The qualifying balance used for the calculation of Relationship Rewards for Current and Savings Accounts, Fixed Deposits, Investments and Home Loans in foreign currencies will be converted into Brunei Dollars equivalent at the foreign exchange rate determined by the Bank. Such rates may fluctuate from time to time. The qualifying balance may not be the same as the balances of the respective products’ statement balances.

16. The points accumulated as displayed in the Standard Chartered Priority Banking Visa Infinite Card’s monthly statement is defined as follows:
points on Relationship Reward and active cards brought forward from previous month + points awarded in current month’s credit card statement + points adjustment (if any) – points used. (This shall only apply where there is at least one Visa Infinite retail transaction made in the month).

17. Only active credit cards during the Visa Infinite Card statement month will be shown in the Relationship Rewards.

18. The Bank reserves the right not to reward Relationship Rewards on any particular Current and Savings Accounts, Fixed Deposits, Investments, Home Loans, Products or Credit Card at its sole discretion.

19. The Bank may from time to time change the Terms and Conditions for Relationship Rewards.