Preferred 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 Preferred Banking customers of Standard Chartered Bank Malaysia Berhad. The services and privileges that we provide to you as a Preferred Banking customer are governed by these Terms and Conditions.
- 1. Membership
- 1.1 You must meet our eligibility criteria to become a Preferred Banking customer. Your admission to Preferred Banking membership is at our discretion. We may end your Preferred Banking membership at any time and will notify you.
- 1.2 Your Preferred Banking membership will be valid for one year from the date we approve your membership. The renewal of your Preferred Banking membership for each subsequent year is at our discretion.
- 1.3 You may end your Preferred Banking membership by giving us written notice.
- 2. Eligibility criteria
- To enjoy the exclusive Preferred Banking membership and all the
benefits and privileges that come with it, you must:
- 2.1 Maintain a minimum of RM72,000 in deposits and/or investments; or
- 2.2 Take up a minimum of RM400,000 in housing loans with us; or
- 2.3 Earn a minimum annual income of RM72,000, take up the Preferred World MasterCard Credit Card (“Credit card”) and open a Preferred M2 Account/SuperSalary Account/e$aver Account with us.
- 3. Preferred Banking services,
privileges and products
- 3.1 Preferred Banking Relationship Rewards
- 3.1.1 The entitlement of the Relationship
Rewards is subject to you holding:-
- (i) A valid Preferred Banking membership;
- (ii) A Standard Chartered Preferred World MasterCard Credit Card;
- (iii) A Preferred M2 Account/SuperSalary Account/e$aver Account
- 3.1.2 Relationship Rewards consist of the
following:
- (i) Relationship Rewards Points; and
- (ii) Credit Card Spend Rewards Points.
- 3.1.3 Relationship Rewards Points
360° Rewards Points will be credited into the valid Preferred World MasterCard Credit Card account. - 3.1.4 Standard Chartered Preferred World MasterCard Credit Card or Preferred M2 Account/SuperSalary Account/e$aver Account that has been terminated will not qualify for the Relationship Rewards.
- 3.1.5 Standard Chartered Preferred World MasterCard Credit Card that is in delinquent status does not qualify for the Relationship Rewards.
- 3.1.6 Credit Card Spend Rewards Points
360° Rewards Points can be earned on total credit card spend reflected in the statement in any particular month. Credit card spend means retail transactions charged to the credit card except any interest, fees, charges, funds transfer, balance transfer and cash advance. The period used for determination of credit card spend is based on statement cycle and is accurate as at the point of statement generation.- (i) You get 1.5 points for every RM1 you spend, if your total credit card spend reflected in your statement in any particular month is less than RM1,500.
- (ii) You get 2 points for every RM1 you spend, if your total credit card spend reflected in your statement in any particular month is RM1,500 or more.
- 3.1.7 The Relationship Rewards Points can
be earned on personal Mortgage Loans, Investments, Fixed
Deposits, Current and/or Savings Accounts and online transactions where the
Principal Preferred World MasterCard Credit Cardholder is
the primary account holder.
- (i) The Relationship Rewards Points is earned on the basis of holding any one valid and eligible product within the Product Category with us as at end of the calendar month.
- (ii) A fixed Relationship Rewards Points will be credited to your Standard Chartered Preferred World MasterCard Credit Card account for holding at least one valid product within the Product Category defined in this Terms and Conditions. A maximum of 200 points will be awarded per month, irrespective of the number of accounts or transactions.
- (iii) Customers holding multiple product holding(s) within the same Product Category will be awarded only one time.
- (iv) To earn the Relationship Rewards Points via online transactions, you must perform at least one online transaction every calendar month.
- (v) Mortgage Loans, Investments, Fixed Deposits and Current and/or Savings Accounts that are closed within the month will not earn any Relationship Rewards Points.
- 3.1.8 Product Category means personal Mortgage
Loans, Home Financing-i, Investments, Fixed Deposits, Current
and/or Savings Accounts and online transaction and includes the following:
- (i) Mortgage Loans: Any valid product holding in mortgage loans as at end of the month.
- (ii) Investments: Any valid product holding in unit trusts, retail bonds, single-premium insurance plans (only applicable to Prudential Assurance (M) Berhad and Etiqa single-premium insurance plans), Structured Deposits and Premium Currency Investment accounts.
- (iii) Fixed Deposits: Any valid product holding in fixed deposits denominated in local currency and foreign currency as at end of the month.
- (iv) Current and/or Savings Accounts: Any valid product holdings in Current Accounts (regardless of denominations) or Savings Accounts (regardless of denominations) as at end of the month.
- (v) Online Transactions: Any online bill payment made through Current or Savings Accounts only.
- 3.1.9 The period used for determination of valid product holding is based on calendar month.
- 3.1.10 The methods used to compute qualifying valid product holding are at the sole discretion of the Bank.
- 3.1.11 The Bank reserves the right not to reward Relationship Rewards on any particular Mortgage Loans, Investments, Fixed Deposits and Current and/or Savings Accounts or credit card at its sole discretion. We will give you prior notice if we do so.
- 3.1.12 The Bank may from time to time change the Terms and Conditions for Relationship Rewards Points.
- 3.1.1 The entitlement of the Relationship
Rewards is subject to you holding:-
- 3.2 Preferred World MasterCard Debit Card
- You may apply for Preferred World MasterCard Debit Card (“Debit
card”) subject to you meeting the criteria as stated in 2.3
above.
- 3.2.1 1% CashBack
- In order for you to enjoy 1% CashBack on your Preferred World
MasterCard Debit Card spend, your debit card must be linked
to your Preferred M2 Account/SuperSalary Account
and you must maintain a minimum average daily balance of
RM6,000 in the Preferred M2 Account/SuperSalary
Account.
The 1% CashBack is calculated at the end of the calendar month and is credited on the first working day of the next calendar month to your Preferred M2 Account/SuperSalary Account.
- 3.3 Preferred M2 Account/SuperSalary Account
- 3.3.1 Preferred M2 Account is
linked to the debit card. The Preferred M2 Account
may be a personal or joint account. With the debit card, you can enjoy the following benefits:
- • 1% CashBack on your purchases made via the debit card
- • Cash withdrawal
- • MasterCard payments
- • Credit card merchant discounts
- • Recurring payment plan including monthly instalment and auto debit
- • 1% CashBack on your purchases made via the debit card
- • Cash withdrawal
- • MasterCard payments
- • Credit card merchant discounts
- • Recurring payment plan including monthly instalment and auto debit
- 3.3.2 1% CashBack
- (i) We may credit your Preferred M2 Account/SuperSalary Account with 1% CashBack if you maintain a minimum average daily balance of RM6,000 in the Preferred M2 Account/SuperSalary Account. We reserve the right to stipulate the minimum daily balance you must maintain in the Preferred M2 Account/SuperSalary Account. However, 1% CashBack is given at our discretion and we reserve the right not to continue to credit the 1% CashBack to your Preferred M2 Account/SuperSalary Account or to change the amount of 1% CashBack given.
- (ii) 1% CashBack is based on the average daily balance of the Preferred M2 Account/SuperSalary Account calculated at the end of each calendar month and is credited on the first working day of the next calendar month.
- (iii) The amount of the 1% CashBack will only be accrued and credited if your Preferred M2 Account/SuperSalary Account is in good standing. 1% CashBack is not applicable if your Preferred M2 Account/SuperSalary Account is suspended, closed or you are in breach of our banking agreement.
- 3.4 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 Bank Online Banking. Global Link Service is a service which allows you to quickly view balances across selected Standard Chartered Bank accounts worldwide.
- 3.1 Preferred Banking Relationship Rewards
- 4. Fees and charges
- 4.1 We charge you fees for your membership and for providing you with Preferred Banking services and privileges or any other Preferred Banking products (eg. Preferred M2 Account). The fees are set out in the Fees and Charges for Product and Services Guide and may change from time to time. You may request for a copy of the Fees and Charges for Product and Services Guide by contacting your Preferred Banker, via phone banking, visiting our branches or website.
- 4.2 We reserve the right not to provide you with any of the services, privileges and products if you cease to be our Preferred Banking customer. If you wish to continue to enjoy the Preferred Banking services and privileges and products, we may allow you to do so subject to you paying the additional fees we may impose and you authorise us to debit the additional fees from any of your account with us.
- 5. Availability
- 5.1 Preferred Banking services, privileges and products may not be available in all countries and are subject to local regulations. We may vary or withdraw the services at any time. You may find out the current services available to you by contacting your Preferred Banker, via phone banking, visiting our branches or website.
- 5.2 We may introduce you to Preferred Banking services and privileges provided by third parties. These services and privileges are subject to the terms and conditions of the third parties. You may be required to sign a separate agreement with the third parties. We are not responsible for any loss you may incur in connection with these services and privileges.
- 6. Information we disclose
- You opt for and 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 the Preferred 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.
- 7. Terms and Conditions
- Please read these Malaysia Preferred Banking Services and Privileges Terms and Conditions together with our Customer Terms, Electronic Banking Terms and Conditions, Current/Cheque/Savings and Fixed Deposit Terms, Mortgage Facility Terms and Credit Card Terms (collectively “Standard Terms”). In the event of any inconsistency, these terms prevail only to the extent of such inconsistency.
