The following Terms and Conditions are to be read in conjunction with Client Terms and the Current and Savings Account terms & conditions

1. By default, you will automatically enjoy access to UAE Dirham for your Current or Savings account(s). However, if we allow you to, you may enable the multi-currency feature on eligible Current or Savings account(s) for one or more foreign currency, subject to the following requirements:
2. You must be the primary account holder on the account(s);
3. Your account(s) is opened as an individual account (joint accounts are not eligible);
4. Your account(s) must be valid and in good standing in accordance with UAE Central Bank regulations and Standard Chartered Terms and Conditions;
5. You are able to view an option to enable the multi-currency feature for your account(s) on your online banking or SC Mobile; and
6. You satisfy such other requirements as may be prescribed by us from time to time.
7. In order to enable the multi-currency feature on your account(s) for the first time and/or fund a particular foreign currency balance in your account for the first time, you must select a foreign currency from the available currencies displayed on online banking or SC Mobile for your eligible account, and transfer funds in that selected currency from one of your existing accounts (maintained with us) to your eligible account. The funds transfer amount will be converted at a rate offered by the bank from time to time.
8. For subsequent transfers to already enabled foreign currencies, you may choose to fund the relevant foreign currency balances in your eligible account from any of your existing account(s) (maintained with us) similar to any funds transfers that you initiate between your own accounts.
9. Multi-currency enabled debit card:
   1. If you have a non multi-currency debit card issued on the eligible account, you will have the option to request for a multi-currency enabled Visa debit card through your online banking or SC Mobile; if you choose not to opt for the debit card you may not be able to fully utilize the multi-currency feature on the account;
   2. If you have a multi-currency enabled Visa debit card linked to your account, additional currency’s will be added on the card once the relevant currency has been enabled using online or SC Mobile;
   3. Debit card transactions in the enabled foreign currency shall be paid for by directly debiting the transaction amount from the relevant foreign currency account, provided there are sufficient funds in that currency account.
   4. In the event there are no funds or insufficient funds of the relevant foreign currency in your account, the transaction shall be paid for by directly debiting the full transaction amount from the AED denominated account, and such transaction will be subject to the relevant fees and charges as indicated in the Service and Price guide. 
   5. If there are insufficient funds of the relevant foreign currency and also AED denominated account, the transaction will be declined entirely.
   6. The above clause 9d is applicable when you choose the transaction currency as the relevant currency at the point of transaction and the Dynamic Currency Conversion option is not chosen by you for such a transaction. For the purposes of clause 9d above, debit card transactions include ATM withdrawal, local and overseas purchases, contactless payment (include using digital wallets such as Apple Pay, Samsung Pay, Google Pay and Fitbit Pay) and card-not-present transactions. If you choose the Dynamic Currency Conversion option at the point of transaction, the transaction amount in foreign currency will be converted into a AED amount based on the Dynamic Currency Conversion rates, and such AED amount will then be debited from your account balances denominated in AED.
10. Inward remittances in foreign currencies shall be credited directly to the relevant foreign currency denominated account if the multi-currency feature for the account has been enabled for that foreign currency.
11. If the multi-currency feature for that relevant foreign currency has not been enabled on your account, then for inward remittance in that currency which has not been enabled, or if the inward remittance is in a foreign currency for which the multi-currency feature is not available, you agree that the relevant inward remittance funds may be converted into AED at a rate we reasonably consider appropriate and credited directly into the AED denominated account without your prior consent.
12. You understand that once the multi-currency feature for a foreign currency has been enabled, it cannot be disabled. This means that you will not be able to close the features, unless you close the foreign currency account(s) and change or close your multi-currency enabled debit card. You understand that upon account closure, the account which includes the AED denominated balances and any balances in the relevant foreign currency will be closed.
13. We may generate separate statements for the balances and transactions for each foreign currency that you may enable the multi-currency feature for on your account.
14. If you deposit AED denominated cheques to your Account, these will be directly credited into the AED denominated account. We may directly credit any USD denominated cheques into the USD denominated account if you have enabled the multi-currency feature for USD on your account.
15. If you issue AED denominated cheques from your Current Account, these will be directly debited from the AED denominated account.
16. The type of foreign currency available in respect of the multi-currency feature for the eligible account(s) will be determined by us. We may prescribe minimum and/or maximum conversion amounts from time to time for the multi-currency feature.
17. You acknowledge and agree that
    1. The foreign currency market is volatile. Foreign exchange rates may fluctuate significantly and suddenly and are determined by (among other things) the supply and demand for currencies in the international foreign exchange markets, inflation rates in the countries concerned, interest rate differences between the respective countries, currency convertibility and measures (e.g. exchange controls) taken by government and monetary authorities.
    2. You may also incur losses as a result of adverse exchange rate fluctuations.
    3. Any conversions may result in you receiving an amount less than the principal amount deposited, transferred or remitted.
    4. The rates displayed on public websites do not represent the rates that the Bank is able to offer its clients, Foreign exchange is not a commodity with a standard price and may differ based on liquidity spread & margins applied by the financial organisations.
18. US Status / CRS:
    1. You understand that the information supplied by you is subject to the terms and conditions governing your relationship with Standard Chartered Group, where your financial relationship is maintained.
    2. You acknowledge that the information contained in this Form and information regarding you and any Reportable Account(s) may be provided, directly or indirectly, to any relevant tax authority, including the tax authorities of the country in which your account(s) is/are maintained and exchanged with tax authorities of another country or countries in which you may be resident for tax purposes pursuant to bilateral or multilateral agreements between governments to exchange financial account information.
    3. Where required by domestic or overseas regulators or tax authorities, you consent and agree that the Bank may withhold from your account(s) such amount as may be required according to applicable laws, regulations, and directives.
    4. You declare that all statements made in by you are, to the best of your knowledge and belief, correct and complete.
    5. You undertake to submit a suitably updated FATCA/ CRS Form within 30 days of any change in information or change in circumstances which affects your tax residency status or where any information contained herein has become incorrect.

Please click here for the Arabic version of the terms and conditions.