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Premium Banking Relationship Terms and Conditions

In these terms and conditions, “you” refers to you, your joint account holder or your authorised person who are Premium 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 Premium Banking customer are governed by these terms and conditions. You must read these terms in conjunction with our Customer Terms, and such other applicable terms and conditions, including the pricing guide, the product brochure, and any other documents forming our banking agreement. The banking agreement is available to you on our website at sc.com/sg.

Premium Banking Relationship

1.1    To become a Premium Banking customer, you will have to meet the eligibility criteria and Premium Banking relationship admission is at our discretion. You can find out more information on Premium Banking from the Bank’s website at sc.com/sg/premium. The Bank reserves the right to end your Premium Banking relationship at any time with prior notice. Standard Chartered Priority Banking customers are not eligible for Premium Banking relationship.

1.2    Continuation of your Premium Banking relationship is subject to fulfilment 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 Premium Banking relationship by giving us written notice or verbal instructions through our contact centre.

1.4    To enjoy the services, benefits and privileges that come with the Premium Banking relationship, you must meet at least one of the following eligibility criteria to become a Premium Banking customer:

  • you maintain a combined balance in your primary account(s) a minimum of S$50,000 in deposits and/or investments; or
  • you maintain a combined balance in your primary account(s) a minimum of S$500,000 in housing loans; or
  • you have an annual income of at least S$96,000.

Services, Benefits and Privileges of Premium Banking

2.1    The services, benefits and privileges that come with Premium Banking are set out on the Bank’s website (as may be updated from time to time) and may include:

  • lower fees and charges on telegraphic transfers via SC Mobile and SC Online;
  • waiver of handling commission fees and cable charges for fund transfers between Standard Chartered accounts only;
  • access to dedicated digital services; and
  • exclusive offers and invitations to events from time to time.

2.2    From time to time we may introduce you to other Premium Banking privileges and services 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.

Fees and Charges

3.1   Fees and charges may be charged for the provision of selected Premium Banking services. The fees are set out in the Premium Banking Pricing Guide and may change from time to time. You can obtain a copy of the Premium Banking Pricing Guide or the specific charges for a particular Premium Banking service from the Bank’s website at https://www.sc.com/sg/terms-and-conditions/premium-banking-relationship-pricing-guide/.

3.2    Fees and charges imposed by other financial institutions will apply.

Variation and Discontinuance

4.1    We may vary or withdraw the Premium Banking services, benefits and privileges, including relationship terms and product categories, at any time in our discretion. If we make such changes, we will give you notice in accordance with our usual practice and in accordance with any applicable law.

4.2  We reserve the right not to provide you or cease to provide you with any Premium Banking services, benefits or privileges, including where we deem that you are no longer eligible for Premium Banking relationship for any reason whatsoever. We will notify you as soon as possible if it happens.

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.

This document is for general information only and it does not constitute an offer, recommendation or solicitation to enter into any transaction. This document has not been prepared for any particular person or class of persons and it has been prepared without regard to the specific investment or insurance objectives, financial situation or particular needs of any person. You should seek advice from a licensed or an exempt financial adviser on the suitability of a product for you, taking into account these factors before making a commitment to purchase any product. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether the product is suitable for you.