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Get up to 75% rebate on Outward Telegraphic Transfer (OTT) charges when inward funds are credited into your SGD or USD business account with us Get in touch

Get up to 75% rebate on Outward Telegraphic Transfer (OTT) charges when inward funds are credited into your SGD or USD business account with us

Details

Smart Business Plan is an innovative pricing plan designed for businesses such as yours. Credit inward funds into your SGD or USD business account with us and enjoy up to 75% rebate on OTT charges incurred on that account.

 For SGD current account(s)1
Tiers for the Monthly Total Business Credits*
Rebate on Outward Telegraphic Transfer (OTT) Commission/Charges for that month
SGD25,000 to SGD100,000 25%
Above SGD100,000 to SGD500,000 50%
Above SGD500,000 75%

For SGD current account(s)

1The customer must have either the Straight2Bank (S2B) Lite or S2B Classic version of Straight2Bank (S2B) to avail this feature. The feature is only available for SGD and USD current accounts (each, an “Account”). To read the Smart Business Plan terms and conditions for SGD current accounts, please click here

* Total Business Credits will be calculated at the specific relevant Account level: Total Business Credits (TBCs) are computed based on the inward funds credited into each relevant Account in any calendar month.
TBCs include inward credits of funds such as:

  1. cash deposits (including over-the-counter and bulk deposits);
  2. inward local funds transfers, local bank electronic transfers and telegraph transfers (covering SWIFT and internal network transfers), within Standard Chartered PLC, and/or any of its affiliates;
  3. local and foreign cheque deposits,

after excluding funds that are transferred from any of your existing accounts held with the Bank and all bank-initiated and system-initiated credits of funds into your Account, such as:

  1. credits due to any returned item (for example: cheque return, funds transfer return, etc);
  2. interest credited into the Account (if any);
  3. sweep-in credits from linked time deposit accounts;
  4. loans from Standard Chartered PLC and/or any of its affiliates disbursed into the Account; and
  5. cash rebates.

If the customer does not meet any of the TBC tier(s) in a particular month, the customer will not enjoy the rebates, regardless of whether the customer had qualified for the rebates in preceding month(s).
TBC (and hence, the rebate percentage) will be calculated and applied individually for each Account and will not be aggregated across all relevant Accounts.

For USD current account(s)2

Tiers for the Monthly Total Business Credits*
Rebate on Outward Telegraphic Transfer (OTT) Commission/Charges for that month
USD25,000 to USD100,000 25%
Above USD100,000 to USD500,000 50%
Above USD500,000 75%

For USD current account(s)2

2The customer must have either the S2B Lite or S2B Classic version of S2B to avail this feature. The feature is only available for SGD and USD current accounts. To read the Smart Business Plan terms and conditions for USD current accounts, please click here .

* Total Business Credits will be calculated at the specific relevant Account level: Total Business Credits (TBCs) are computed based on the inward funds credited into each relevant Account in any calendar month.
TBCs include inward credits of funds such as:

  1. cash deposits (including over-the-counter and bulk deposits);
  2. inward local funds transfers, local bank electronic transfers and telegraph transfers (covering SWIFT and internal network transfers), within Standard Chartered PLC, and/or any of its affiliates;
  3. local and foreign cheque deposits,

after excluding funds that are transferred from any of your existing accounts held with the Bank and all bank-initiated and system-initiated credits of funds into your Account, such as:

  1. credits due to any returned item (for example: cheque return, funds transfer return, etc);
  2. interest credited into the Account (if any);
  3. sweep-in credits from linked time deposit accounts;
  4. loans from Standard Chartered PLC and/or any of its affiliates disbursed into the Account; and
  5. cash rebates.

If the customer does not meet any of the TBC tier(s) in a particular month, the customer will not enjoy the rebates, regardless of whether the customer had qualified for the rebates in preceding month(s).
TBC (and hence, the rebate percentage) will be calculated and applied individually for each Account and will not be aggregated across all relevant Accounts.

Eligibility

Eligibility

  • Sole Proprietors / Partnerships / Private Limited Companies / MCST / Charities / Non-profit Organizations
  • Customer should have either Straight2Bank Lite or Straight2Bank Classic version to avail this feature

Terms & Conditions

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.