360° Rewards Terms and Conditions


1. The Priority Banking 360º Rewards ("Offer") is only available to Priority Banking ("PB") clients of Standard Chartered Bank (Hong Kong) Limited (the “Bank”) who hold valid Principal PB Credit Card (the "Card") issued by the Bank ("Eligible Client").
2. Eligible Clients may earn 360º Rewards Points ("Points") by holding the Card and one or more of the following Eligible Banking Products or entering into transactions to hold one or more of the following Eligible Banking Products ("Eligible Transactions") :

Product Categories Eligible Banking Products
Deposits
Structured Investment Series
Premium Deposit
Savings Account, Current Account, Time Deposit, Call Deposit, Premium Deposit and Structured Investment Series (Any Currency).
- Actual overdraft balance (but not the overdraft limit) in Current Account will be treated as positive balance for Points calculation.
- Excluding deposits credited to MortgageOne® Account and Actual Amount Swept under MortgageOne® Optimizer Services.
Investments Investment Funds, Securities, Debt Securities and Equity Linked Investment (Any Currency).
Insurance Cumulative premium paid for life assurance basic plans (except for investment-linked insurance plan) applied through the Bank and underwritten by Prudential Hong Kong Limited (Prudential).
Personal Instalment Loan Personal Instalment Loan, Debt Consolidation Program, Floating Rate Personal Instalment Loan and Tax Loan.
- Any loan amounts approved but not yet drawn down will be excluded from Points calculation.
Mortgage Loan Mortgage Loan
- Any loan amounts approved but not yet drawn down will be excluded from Points calculation.
- Loans applied under Standard Chartered Staff Mortgage Plan are not eligible for Points.
- If there is more than one applicant/obligor under the relevant mortgage loan and each of them is a holder of the Card, only Applicant 1/Obligor 1 as stated in the Mortgage Loan Application Form will be entitled to Points under this Product Category.
- Single premium paid for Mortgage Loan Assurance Plan will be reflected in the mortgage loan balance.

3.1 Points will be calculated based on the total balance of the relevant account as shown on the relevant monthly statement and on the following criteria with reference to each Product Category:

Product Category of Eligible Transactions Reward Basis No. of Points earned (monthly) The Maximum Points earned (monthly)
Deposits
Structured Investment Series
Premium Deposit
Every HK$100,000 daily average balance in a month* 500 Points 10,000 Points
Investments Every HK$100,000 daily average balance in a month**    500 Points 10,000 Points
Insurance Every HK$100,000 daily average balance in a month** 500 Points 10,000 Points
Personal Instalment Loan Every HK$100,000 month end outstanding loan balance^    500 Points 10,000 Points
Mortgage Loan Every HK$100,000 month end outstanding loan balance^ 100 Points 10,000 Points

* based on total number of calendar days in the relevant month
** based on total number of days the Bank is open for business in the relevant month
^ as at the last calendar day in the relevant month
3.2 Only the Eligible Transactions made by the Eligible Client (who is the Principal cardholder of the Card) will be counted for Points. If the Eligible Transactions are made under a joint account, only the account(s) held by the Eligible Client in the capacity as primary account holder/borrower in such joint account will be counted for Points.

3.3 For Points calculation purposes, the balance of the relevant product held by an Eligible Client will be converted to Hong Kong Dollar ("HKD") in the following situations on the specified basis:-

    (i) if the relevant account balance is denominated in foreign currency -- the Bank's exchange rate as of last calendar day of the month will be adopted for converting the daily average balance of the relevant account from the foreign currency to HKD equivalent, which will then be used to calculate the monthly balance of the account;
    (ii) if the relevant account is holding Investment Funds, Securities, Debt Securities or Equity Linked Investment -- the Bank's daily Net Asset Value price of the relevant Investment Funds, or the market price of the relevant Securities or Debt Securities will be adopted to calculate the daily aggregate balance of the relevant account, which will then be used to calculate the monthly balance of the account.
3.4 For Points calculation purposes under the Personal Instalment Loan and Mortgage Loan categories:
    (i) To be eligible for the Offer, the relevant loan account(s) of the Eligible Client under the respective categories should be valid and in good financial standing; and
    (ii) If the Bank has not received payment from the Eligible Client on or before the relevant due date in respect of any credit facility(ies) under the respective categories, no Points will be calculated and awarded to the Eligible Client unless and until the relevant account(s) has/have resumed to valid and good financial standing.
3.5 For MortgageOne® Account under Mortgage Loan Category, the balance used for calculating Points is the net loan balance (that is, outstanding loan principal minus deposits credited to the MortgageOne® Account) on the last calendar day in that month. In the event that outstanding loan principal is less than the deposits credited to the MortgageOne® Account resulting in a net deposits balance, no Points will be offered.

3.6 For Points calculation purposes under Insurance category:
    (i) To be eligible for the Offer, the life assurance basic plan(s) (except for investment-linked insurance plan) must be either sold by Prudential's Executive Financial Services Managers located at the Bank's branches or by the Bank's sales staff.
    (ii) If the client cancels the relevant assurance plan(s) or policy(ies) within the cooling-off period, Points will not be offered for such plan(s) or policy(ies).
    (iii) The relevant policy(ies) must remain in force (as determined by Prudential at its sole discretion) and the premium level must remain the same as (or above) the initial premium level determined at the time of issuance of the policy(ies); otherwise, the Bank has the absolute right to forfeit and debit any Points awarded in respect of such policy(ies) or relevant plan(s).
3.7 Any remaining balance that falls short from earning any Points based on the criteria referred above during a month will neither be combined with other balances in other product categories nor be carried forward for Points calculation purposes in any subsequent months.

4. As a prerequisite for Points being earned under the Offer, Eligible Client has used the Card at least once during the relevant month to pay for a retail purchase transaction (including but not limited to monthly instalment and bill payment) or make a cash advance.

5. Points will be calculated monthly, and subject to the terms below, will be credited to the Card account in the following month. Details of any award of Points during a relevant month will be shown on the credit card statement or consolidated banking statement (where applicable) to be issued to the relevant Eligible Client in the following month. For example, if during September 2010, 1,000 Points were earned by an Eligible Client; in October 2010, they will be credited to the Card account and shown on the credit card statement or consolidated banking statement (where applicable) issued to the Eligible Client.

6. Notwithstanding the above, the Points will not be awarded to the Eligible Client unless the Eligible Client has maintained a PB Relationship package with the Bank and all the account(s) of the Eligible Client at the Bank is/are valid and in good financial standing. The Bank further reserves the right to refuse to credit or honour any Points if the relevant Eligible Client fails once or more to pay on or before the relevant due date under any credit facility (including credit card) the Eligible Client has at or with the Bank.

7. For clients who newly sign up PB Relationship package, the Offer will not be available to those clients until the next calendar month after their sign-up and subject to the validity and financial standing of the Card the relevant client is holding.

8. If the Card account is voluntarily/involuntarily closed, all Points unredeemed, unused or not yet credited to the Card account will be immediately forfeited upon the account closure.

9. The methods used to compute Points and the criteria of Eligible Transactions and products relating thereto are decided and subject to the sole discretion of the Bank. The Bank may review such methods and criteria from time to time. In case of any dispute, the Bank's decision shall be final and binding.

10. Points awarded under this Offer will be valid for use for at the maximum of 3 years as particularly specified in the relevant monthly statements. Points cannot be redeemed for cash. The usage and validity of Points will be subject to the relevant terms and conditions as set out in the Bank's Credit Card 360º Rewards which will be reviewed and amended by the Bank from time to time.

11. In the event that the Eligible Client is also entitled to another prevailing promotion offer(s) of the Bank, the Bank reserves the right to provide only one or some of the offer(s) at its absolute discretion.

12. The Bank reserves the right to terminate the Offer and to vary or modify any of the above terms and conditions from time to time without prior notice. In case of dispute, the Bank's decision shall be final and binding.

13. If there is any inconsistency or conflict between the English and the Chinese versions of these terms, the English version shall prevail.

Important Notes:

    - The life assurance plans are life insurance products and are not bank deposit. They are underwritten by Prudential Hong Kong Limited (a member of Prudential plc group) (“Prudential”) and distributed by Standard Chartered Bank (Hong Kong) Limited (“Standard Chartered”). Some of these plans may have a savings element and are not an alternative to ordinary savings or time deposits. Part of the premium pays for the insurance and related costs.

    - If you are not happy with your policy, you have a right to cancel it within the cooling-off period and obtain a refund of any premiums paid, less any withdrawals (if applicable), provided that no claim has been made under the policy. A written notice signed by you should be received directly by Prudential at 8/F., Prudential Tower, The Gateway Harbour City, 21 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong within the cooling-off period (that is, within 21 days after the delivery of the policy or issue of a notice (informing you or your representative about the availability of the policy and expiry date of the cooling-off period), whichever is the earlier). After the expiration of the cooling-off period, if you cancel the policy before the end of the term, the projected total cash value (if applicable) may be less than the total premium you have paid. You should check with Prudential if you have any doubt regarding your cooling-off right.

    - Standard Chartered is an insurance agent of Prudential.

    - As the issuer of the life assurance plans, Prudential will be responsible for all protection and claims issues. Prudential is not an associate or subsidiary company of Standard Chartered. This webpage is not a contract of insurance and is intended to be a general summary for reference purpose only. Please refer to the policy for full terms and conditions. Standard Chartered does not accept any responsibilities regarding any statements provided by Prudential or any discrepancies or omissions in the contract of insurance nor shall Standard Chartered be held liable in any manner whatsoever in relation to your contract of insurance.

    - This webpage is intended to be distributed in Hong Kong only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Hong Kong. Prudential and Standard Chartered do not offer or sell any insurance product in any jurisdictions outside Hong Kong in which such offering or sale of the insurance product is illegal under the laws of such jurisdictions. This booklet does not constitute a contract of insurance or an offer, invitations or recommendation to any person to enter into any contract of insurance or any transaction described therein or any similar transaction.

    - Whether to apply for insurance coverage is your own individual decision. For Prudential’s life assurance plan policy provisions, details and risk disclosure please refer to relevant plan’s product leaflet/offering document and specimen policy.

    - In respect of an eligible dispute arising between Standard Chartered and the client out of the selling process or processing of the related transaction, the Bank is required to enter into a Financial Dispute Resolution Scheme process with the client; however any dispute over the contractual terms of the product should be resolved between directly Prudential and the client.