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Important Information

Amendments to Customer Terms, Product Terms and Pricing Guide – Effective 4 June 2018

We are changing the terms of our banking agreement.

From time to time, we review the terms of our banking agreement with you to ensure that they remain current, fair and clear, in line with our brand promise to be Here for good.

The following portions of our banking agreement have been revised:

1. the Customer Terms;
2. the Current/Cheque/Savings Account and Time Deposit Terms;
3. the Personal Loan/Personal Line of Credit/Overdraft Terms;
4. the Credit Card Terms;
5. the Pricing Guide;
6. the Mortgage Facility Terms; and
7. the Auto Financing Terms.

(We previously revised the Investment Product Terms effective 1 May 2018. We notified you of those changes in March and they are not covered here.)

We set out below a summary of the changes. As we think it is important that you understand your rights and obligations under the banking agreement, we urge you to read them in full here:

1. Customer Terms [https://av.sc.com/sg/content/docs/scb-customer-terms.pdf]
2. Current/Cheque/Savings Account and Time Deposit Terms [ https://av.sc.com/sg/content/docs/scb-tc-booklet.pdf ];
3. Personal Loan/Personal Line of Credit/Overdraft Terms [ https://av.sc.com/sg/content/docs/scb-tc-booklet.pdf];
4. Credit Card Terms [ http://av.sc.com/sg/content/docs/scb-cc-tc.pdf];
5. Mortgage Facility Terms [ https://av.sc.com/sg/content/docs/scb-mortgage-facility-tc.pdf]; and
6. Auto Financing Terms [ https://av.sc.com/sg/content/docs/scb-auto-loan.pdf ].

The banking agreement, as revised, will apply to you 30 days from the date of this notice.

A. Fees and Charges

1. The following charges have been removed:
a. dormant account fee;
b. commitment fee for your personal line of credit or overdraft;
c. service fee for varying the tenor of the approved instalments for our EasyPay programme;
d. cancellation fee for early termination of the approved instalment plan or early prepayment of the approved instalment for our EasyPay programme;
e. annual membership fee for all supplementary credit cards issued by us; and
f. card replacement fee for our picture credit cards.

2. The following charges have been increased:
a. retrieval fee for our bank statements.
b. Prevailing charge by Visa for all foreign currency transactions converted via Dynamic Currency Conversion. (Effective 25 June 2018)
c. Prevailing charge by Visa for all Singapore Dollar Transactions Processed Overseas. (Effective 25 June 2018)

3. The following charges have been reduced:
a. early account closure fee for your savings, current or cheque account; and
b. annual membership fee for our Classic Card.

For more information on our fees and charges, please refer to the Pricing Guide: [[https://av.sc.com/sg/content/docs/scb-retail-pricing-guide.pdf]

B. New Notice Period

There are circumstances in which we may be required to terminate our banking agreement or your access or use of a product without giving you notice (see Customer Terms, clause 29.4). Except for those circumstances, we have added a new clause 29.3 that allows us to do so only after giving you 30 days’ prior written notice.

C. When We May Stop Sending You Communications

If we believe that notices or communications sent to your last notified address, telephone number, fax number, mobile phone number or email address are not reaching you, we may decide to stop using that mode of communication. Please refer to Customer Terms, clause 7.2.

D. Minimum Payment Due

1. New provisions in the Credit Card Terms require you to pay at least the minimum payment due we specify, upon the termination of your credit card account.

2. New provisions in the Personal Loan/ Personal Line of Credit/ Overdraft Terms require you to pay at least the minimum monthly repayment due we specify if the banking agreement for your loan, personal line of credit or overdraft is terminated by us or you.

3. The method of calculation of minimum payment due for credit card accounts and accounts opened for purposes of instalment payments has also been revised as set out in pages 14 and 15 of the Pricing Guide.

4. Please note that these changes are in addition to our right to demand full repayment of amounts owing to us at any time.

E. Clarifications to the Current/Cheque/Savings Account and Time Deposit Terms and Personal Loan/Personal Line of Credit/Overdraft Terms

1. Your savings, current, cheque or Bonus$aver account: any transaction that takes place on the last day of a calendar month that is a Sunday, public holiday or bank holiday will not be considered for our average daily balance computation.

2. Your personal loan account: interest is charged on the last day of the month or of the cycle date.

F. Clarifications/Updates to Credit Card Rewards Programmes

1. We have clarified and updated the list of transactions that are not eligible for 360° Rewards Points.

2. We have clarified the list of transactions that will not earn Spree Cashback.

3. We have updated the list of transactions that will not earn Unlimited Cashback.

4. We have clarified and updated the list of transactions that are not eligible for the VI Card Rewards Promotion.

5. We have clarified the list of transactions that are not eligible for Priority Banking VI Rewards Promotion.

6. We have amended the MANHATTAN S$500 Card Cashback Terms and updated the list of transactions that will not earn MANHATTAN S$500 Cashback.

7. We have amended the MANHATTAN Cashback Terms and updated the list of transactions that will not earn MANHATTAN Cashback.

G. Other Changes in the Credit Card Terms

1. If your annual income is above S$30,000, your maximum combined credit limit is now S$250,000.

2. We have included terms that previously existed as standalone terms in relation to our:
(a) Spree Credit Card;
(b) Unlimited Cashback Credit Card;
(c) Visa Infinite Credit Card;
(d) Priority Banking Visa Infinite Credit Card;
(e) MANHATTAN S$500 Credit Card; and
(f) MANHATTAN Credit Card.

3. We have also added in the terms in relation to the Rewards+ Credit Card.

H. Other Changes

1. We have re-organised the Customer Terms to include the provisions that govern various electronic banking services with no change to the substance of these terms:

(a) Online Telegraphic Transfers Service;
(b) Auto OTP Service;
(c) PayNow;
(d) soCash;
(e) Standard Chartered Mobile Key Service;
(f) Inbox Notifications Service;
(g) Welcome Screen Balances Service; and
(h) Welcome Screen Transactions Service.

2. We have similarly included in our Personal Loan/Personal Line of Credit/Overdraft Terms, provisions that previously existed as standalone terms in relation to our:

a. Debt Consolidation Facility; and
b. Partner Capital Loan.

3. We have re-organised the provisions relating to loans which are funds transfers into separate sections in each of the Credit Card Terms and the Personal Loan/Personal Line of Credit/Overdraft Terms respectively.

4. We have refreshed the list of mortgage products in the Mortgage Facility Terms.

5. Previous references in our banking agreement to “banking day” and “tariff sheet” have been replaced by “business day” and “pricing guide” respectively.

From 4 June 2018, the revised terms will be available at www.sc.com/sg/personal-banking-terms-conditions.html; any of our branches; or you may call our 24-hour Client Contact Centre at +65 6747 7000 to request a hard copy or if you have any questions regarding these changes.