PRIORITY BANKING SERVICES AND PRIVILEGES
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 Group. The additional services we provide to you as a Priority Banking customer are governed by these terms and conditions.
1Membership
1.1
You will need to meet our eligibility criteria to become a Priority Banking Customer. Your admission to Priority Banking membership is at our discretion. We may end your Priority Banking membership at any time with notification to you.
1.2
Your Priority Banking membership will remain valid from the date you become a Priority Banking member subject to you fulfilling the eligibility criteria and is at our discretion. We will notify you in the event that you fail to maintain a minimum of B$150,000 in deposits and investments.
1.3
You may end your Priority Banking membership by giving us written notice.
2Eligibility criteria for Priority Banking
2.1
To enjoy the exclusive Priority Banking membership and all the benefits and privileges that come with it, simply maintain a minimum of B$150,000 in deposits and investments, or take up B$400,000 in housing loans with us. Alternatively, maintain a monthly credit of more than B$10,000 in your Payroll Account with us to enjoy a 1 year complimentary Priority Banking membership.
3Fees and Charges
3.1
We may charge you fees for providing you with the Priority Banking services. The fees are set out in the Priority Banking tariff sheet and may change from time to time. You can request for a copy of the Priority Banking tariff sheet 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 Bank website in your country.
3.2
As a Priority Banking customer, you must meet our eligibility criteria. If you fail to meet our eligibility criteria, we may impose a fee which will be deducted from your account.
4Information 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.
5Priority Banking Services
Priority Banking services may not be available in some countries and are subject to local regulations. We may vary or withdraw the services at anytime. You can find out about the current services available to you by contacting your Relationship Manager, via phone banking, visiting our branches or from the Standard Chartered Bank website in your country.
5.1
Household Recognition
5.1.1
The admission of your family members, which includes your spouse and any children, 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 with notification to you.
5.1.2
The Priority Banking membership of your family members will be valid from the date you become a Priority Banking member. The renewal of Priority Banking membership of your family members is subject to you fulfilling the eligibility criteria.
5.1.3
Your family members who have been admitted to Priority Banking membership through household recognition will enjoy most of the benefits associated with Priority Banking services unless otherwise notified by us to you from time to time. Such Priority Banking services will not include pre-approved credit limits, differentiated mortgage policies and birthday treats.
5.2.1
The Global Recognition service is not available in all countries.
5.2.2
The Global Recognition service is subject to you notifying us in writing of the details of the accounts you hold with us in each country.
5.3
Preferential foreign currency exchange
Preferential currency exchange rates are only available in countries where we offer preferential foreign currency exchange rates for Priority Banking customers.
5.4
Pre-arrival account opening
You must provide us with all documents necessary for opening the account overseas and pre-arrival account opening is subject to the regulations of the country in which you wish to open an account.
5.5
Global Link
The Global Link service is provided at our discretion subject to the terms in the Global Link Guidelines. Where this service is available the Global Link Guidelines will be made accessible through Standard Chartered Bank Online Banking.
5.6
Free international fund transfers to another Standard Chartered Bank account
We will waive upfront handling commission and cable charges to another Standard Chartered Bank account. However, you will still need to pay the fees imposed by other banks and any other charges. We may charge you for international fund transfers of more than the local currency equivalent of US$100,000 per transaction.
5.7
Emergency cash
You may withdraw the local currency equivalent of up to US$5,000 when using the Emergency Cash service. The Emergency Cash service is subject to terms contained in the Emergency Cash application form.
5.8
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.
TARIFFS
| GENERAL PRIORITY BANKING SERVICES |
|
Service fee
If deposit and investment balances do not meet the eligibility criteria of BND150,000 upon review |
BND100 per month |
Current and Savings Account for all currencies |
Monthly maintenance fee waived |
Automated Teller Machine (ATM) cards
- First issue of ATM card
- Replacement (Card / PIN number)
- CIRRUS withdrawal
|
Waived
BND20
Waived |
| Overseas ATM Cash Withdrawals(Issuance) |
Waived
(for Standard Chartered and MasterCard CIRRUS ATM machines) |
| Cashier’s Order (Issuance) |
BND10 |
| Draft Service (Issuance) |
Online Banking |
Counter |
Not available |
BND20 |
| Telex Service (Issuance) |
Online Banking |
Counter |
Waived
(between Standard Chartered Bank accounts worldwide)
BND10
(to other banks) |
Waived
(between Standard Chartered Bank accounts worldwide)
BND15
(to other banks) |
Safe Deposit Lockers
Annual Rental (Payable in advance)
- Size A (3x10x20)
- Size B (5x10x20)
- Size C (10x10x20)
- Size D (8x16x20)
Key deposit
(refundable when the key is returned and upon termination of issue)
Lost key charge
(including lock replacement charges) |
BND87.50
BND112.50
BND175
BND100
BND200 and prevailing stamp duty charge
BND150 for lock replacement and prevailing stamp duty charge plus forfeiture of initial key deposit. |
| CREDIT CARDS |
Annual Fee |
Basic |
Supplementary |
VISA Infinite
Royal Brune Catering MasterCard Gold
Hua Ho Mastercard |
BND688
(Waived perpetually)
BND60
(Waived perpetually)
BND28
(Waived perpetually) |
BND388
(Waived perpetually for up to 2 cards)
BND40
(Waived perpetually for up to 2 cards)
BND18
(Waived perpetually for up to 2 cards) |
| Loan Facility |
| Property Secured Term Loan |
Processing Fee
Partial Prepayment and Full Prepayment Fee
- Loan paid up less than 5 years
- Loan paid up for 5 – 10 years
- Loan paid up for more than 10 years
Payout fee
Loans transferred to other banks
Certificate of Balance
Cancellation fee |
1% of the loan amount, or minimum amount of BND500 and maximum amount of BND1,000, whichever is higher
5% of loan outstanding or minimum amount of BND5,000 whichever is higher
3% of loan outstanding or minimum amount of BND3,000 whichever is higher
1.5% of loan outstanding or minimum amount of BND1,500 whichever is higher
3% of loan outstanding balance or minimum amount of BND3,000, in addition to the Full Prepayment Fee
BND30
BND400 |
| Overdraft |
Processing fee
(New/Amendment/Renewal)
Temporary arrangement
Advise and cover letter for all excesses/unarranged overdraft
Minimum overdraft utilisation charge
Cancellation fee
|
Waived
BND200
BND100
BND25 per month
BND200 if cancelled within 12 months of facility
granted or average utilisation for past 6 months <=30%
|
^ Please refer to the Bank’s General Tariffs Booklet for all other services and fees that are not mentioned in this sheet.