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 PLC and its subsidiaries and affiliates (including each branch or representative office) (the “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. Continuation of your Priority Banking relationship is subject to fulfillment of the eligibility criteria. We will review your relationship with us on a regular basis and its continuation will be at our discretion.
- 1.3. You may end your Priority Banking membership by giving us written notice.
- 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 maintain a minimum of S$1.5 million in housing loans with us.
- 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 website at www.sc.com/sg
- 3.2. Priority Banking membership is subject to you meeting our eligibility criteria. If the eligibility criteria are not met, we may at our discretion either:
- Impose a fee (which will be deducted from any of your account(s) with us and you expressly authorise us to do so); or
- Convert your banking relationship or the banking relationship of any or all of your household member (if any) who were accorded Priority Banking membership by us through our Household Recognition Programme to Personal Banking relationship or
- Cease to or suspense the provision of any Priority Banking Services until you meet the eligibility criteria.
- 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.
- 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 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. Continuation of your family members’ Priority Banking relationship(s) is subject to your fulfillment of the eligibility criteria. We will review your relationship with us on a regular basis and its continuation will be at our discretion.
- 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 convert your banking relationship or the banking relationship of any or all of your household members (if any) who were accorded Priority Banking membership by us through our Household Recognition Programme to Personal Banking relationship
- 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 voluntarily transfer out of 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.
Preferential foreign currency exchange rates are only available in countries where we offer preferential foreign exchange rates for local Priority Banking customers.5.4. 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 Online Banking.5.5. Free outward telegraphic transfers
Handling commission fees and cable charges are waived for fund transfers between Standard Chartered accounts only. Fees and charges imposed by financial institutions will apply.5.6. 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.5.7. 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.
This document is being distributed for general information only and it does not constitute an offer, recommendation, solicitation to enter into any transaction or adopt any hedging, trading or investment strategy, in relation to any securities or other financial instruments. This document has not been prepared for any particular person or class of persons and does not constitute and should not be construed as investment advice nor an investment recommendation. It has been prepared without regard to the specific investment objectives, financial situation or particular needs of any particular person. You should seek advice from a financial adviser on the suitability of an investment for you, taking into account these factors before making a commitment to invest in an investment.
This document is not a contract of insurance and reference should be made to the actual policy for the exact terms and conditions applicable. It does not constitute an offer to buy or sell an insurance product or service. It is also not intended to provide any insurance or financial advice. All insurance products described in this document are products underwritten by the respective insurers and not Standard Chartered Bank (Singapore) Limited (“SCBSL”). SCBSL shall not be liable in any manner whatsoever regarding your application or the contract of insurance.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to $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.