PRIORITY BANKING SERVICES AND PRIVILEGES INTERNATIONAL TERMS AND CONDITIONS
In these terms and conditions, “you” refers to you, your joint account holder or your authorised person who are Priority Banking customers of Standard Chartered Group. The additional services we provide to you as a Priority Banking customer are governed by these terms and conditions.
1.1 To become a Priority Banking customer, you will have to meet the eligibility criteria and Priority Banking membership admission is at our discretion. The Bank reserves the right to end your Priority Banking membership at any time without giving you a reason but prior notice will be given to you.
1.2 Your Priority Banking membership will be valid for one year from the date you become a Priority Banking member. The renewal of your Priority Banking membership for each following year is subject to fulfillment of the eligibility criteria and is at our discretion.
1.3 You may end your Priority Banking membership by giving us written notice.
2 Eligibility criteria for Priority Banking
To enjoy the exclusive Priority Banking membership and all the benefits and privileges that come with it, simply maintain a minimum of S$200,000 in deposits and/or investments, or take up S$1 million in housing loans with us.
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 Priority Banking Pricing Guide and may change from time to time. You can request for a copy of the Priority Banking Pricing Guide or the specific charges for a particular Priority Banking service by contacting your Relationship Manager, via phone banking, visiting our branches or from the Standard Chartered Bank website at www.standardchartered.com.sg
Priority Banking membership is subject to you meeting our eligibility criteria. If the eligibility criteria are not met, we may at our discretion either:
(a) Impose a fee (which the fees will be deducted from any of your account(s) with us and you expressly authorise us to do so); or
(b) Downgrade any or all of your household members, if any, who were accorded Priority Banking membership by us through the Household Recognition; or
(c) Cease to or suspense the provision of any Priority Banking Services until you meet the eligibity criteria.
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 in order 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 are available in most countries. 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 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 The admission of your family members to Priority Banking 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 and will notify you.
5.1.2 The Priority Banking membership of your family members will be valid for one year from the date you become a Priority Banking member. The renewal of the Priority Banking membership of your family members each year is subject to you fulfilling our Priority Banking membership eligibility criteria.
5.1.3 In calculating whether a household meets the Priority Banking eligibility criteria, deposits and/or investments, or housing loans of household members will not be amalgamated/combined.
5.1.4 As an extendee, you agree to be recognised as part of the main applicant’s household. Any of your accounts/joint 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 downgrade the household members to the relevant segment. In a case where one household member meets the Priority Banking eligibility criteria, it would mean that the household has met the criteria thus fee would not be imposed on the household.
5.1.6 As a primary customer, you may at any point in time give us in writing to end the Household Recognition service which is extended to your family members.
5.1.7 In the event, where you choose to downgrade voluntarily from 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 Global Recognition is available in selected countries and we will continue to expand the list.
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 country.
5.2.3 Global Recognition is only available to your family members who have been admitted to Priority Banking membership through household recognition.
5.3 Preferential foreign currency exchange
Preferential foreign currency exchange rates are only available in countries where we offer preferential foreign exchange rates for local Priority Banking customers.
5.4 Pre-arrival account opening
You must provide us with all documents necessary for opening the account overseas and pre-arrival account opening is subject to the regulations of the country in which you wish to open an account.
5.5 Global Link
The Global Link Service is provided subject to the terms in the Global Link Guidelines. These guidelines are available when you access Standard Chartered Bank Online Banking.
5.6 Free outward telegraphic transfers
You will receive a fee rebate within approximately 7 working days from the date of the transaction. We will rebate all handling commission and cable charges. However, you will still need to pay the inward telegraphic transfer fees as well as any other fees and charges imposed by other banks. We may charge you for international fund transfers of more than the local currency equivalent of US$100,000 per transaction.
5.7 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.
5.8 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.