Important Changes to Current/Cheque/Savings Account and Time Deposit Terms
With effect from 15 November 2016, our Current/Cheque/Savings Account and Time Deposit Terms will be revised to introduce additional clauses for customers to apply for an e$aver Account jointly with a minor of at least 12 years of age.
The following is a summary of the changes:
Joint account with a Child
You may apply to us to allow the e$aver Account to be operated by a minor of at least 12 years of age (the “Child”). We may accept or reject this application at our sole discretion, and subject to any conditions we may impose. If we accept your application, you may notify us to accept instructions from either you or the Child, or all account holders jointly.
You indemnify the Bank
You will not hold the Bank responsible for how the e$aver Account is used by the Child. You will at all times be responsible for all instructions given and all transactions conducted by the Child, and for ensuring the Child’s compliance with our banking agreement including these terms and our Customer Terms. You undertake to fully indemnify us against all claims, demands, actions and proceedings that may be made against us, and must pay us on demand for any and all damages, liabilities, losses and expenses (including legal fees on an indemnity basis) which we may incur or suffer, directly or indirectly, as a result of or in connection with the carrying out of any instructions given by the Child or by you in accordance with your instructions.
Issuance of ATM card for the Child
You may also apply to allow the Child to withdraw cash from the e$aver Account by the use of an ATM card issued to the Child.
When will the changes be effective?
The revised terms will apply from 15 November 2016.
Where do I obtain copies of the revised terms?
You may obtain a copy of our revised Current/Cheque/Savings Account and Time Deposit Terms on our website at sc.com/sg from 15 November 2016. Alternatively, you may also visit any of our branches or call 1800 747 7000 to request for hard copies of these terms from 15 November 2016.
Who can I call if I have questions on these changes?
If you have any questions on the changes, please call 1800 747 7000 or visit any of our branches.