• How do I qualify for the credit or debit card spends bonus interest?

  To qualify for the credit or debit card spends bonus interest:
  • You need to spend a minimum of S$2,000 on your Bonus$aver Credit or Debit Card to earn up to 1.78% p.a. interest.
  • You need to spend a minimum of S$500 on your Bonus$aver Credit or Debit Card to earn up to 0.78% p.a. interest.
  
  

  Only eligible transactions with posting date within the calendar month will be considered.

  Spending is based on the first 2 linked Bonus$aver debit/credit cards in to the account. Spending on the third card onwards will not be taken into consideration.

  • What cards are excluded from this bonus?

    Only the linked Bonus$aver Credit or Debit card will be included.

  • What types of spend are eligible?

    Only MasterCard retail spend charged to the Bonus$aver World MasterCard credit and/or debit card are eligible. Transactions such as EasyPay monthly instalments, NETS, cash advance, balance transfer and payments of interests and charges such as annual fee, late fee and finance charges and payments made to all billing organisations through online banking using your Bonus$aver card are not eligible.

  • What transactions are excluded from the card spends?

    These transactions do not qualify as card spends:

    • balance transfers
    • cash advance
    • Easypay installments
    • ATM/NETS transactions
    • fees and charges (including annual fees, interest charges, cheque processing fees, administrative fees, cash advance fees, finance charges and/or late payment charges and other miscellaneous fees and charges
    • online bill payments
    • AXS payments
    • EZ-Link transactions and other TransitLink transactions
    • top-ups of any stored value facility
    • payments to loans or credit facilities or deposit accounts
    • income tax payments
    • payments to the Immigration and Checkpoints Authority, Ministry of Manpower and Land Transport Authority
    • transactions arising from the use of your linked Bonus$aver Cards as an ATM card at an ATM or at an EFTPOS or NETS terminal
    • any amount charged to your linked Bonus$aver Card in that calendar month that is subsequently cancelled, voided or reversed
    • balance owing on your linked Bonus$aver Card from previous or other months

    Note:
    
    Any transaction 1) on credit or debit cards that are terminated at any time and 2) that is subsequently cancelled, reversed or made void, will not qualify.
    

    If there is any merchant refund, it will be deducted from the total spending in that calendar month.

  • I spent $2000 on my Bonus$aver World MasterCard credit and/or debit card on the 30th of the month. Would this spend be counted towards this month's qualifying spending for bonus interest?

    You will receive bonus interest of up to 1.78% p.a. or 0.78% p.a. on the average daily balance in your Bonus$aver account ("ADB") for a calendar month if you charge a minimum of S$2,000 or S$500 respectively, on your Bonus$aver account in the calendar month based on transaction posting date.
    
    "Transaction posting date" refers to the date on which the transaction is posted to your account after the bank has received the transaction information from the merchant. A transaction posting date differs from the "transaction date" which is the actual date of the transaction. The transaction posting date is dependent on when the bank receives the transaction information from the merchant and this is usually within a few working days after the transaction date. Your Bonus$aver cards statements currently indicate the transaction dates for your transactions, but not the transaction posting dates.

• How do I qualify for the salary credit bonus interest?

  You just need to credit a minimum salary of S$3,000 to your Bonus$aver Account every calendar month via GIRO through your employer.

  You can meet this minimum salary requirement through a single credit or multiple credits each calendar month.

  If there are multiple joint account holders, the total salary amount credited to the account will be considered in meeting the Salary Credit Bonus requirement.

• Does all salary credit qualify?

  While there are many ways salary gets credited into an account, only direct salary credits through GIRO via your employer will qualify for this bonus.

  Other forms of salary credit such as cheques, cash deposit or fund transfer etc, strictly do not qualify for this bonus interest.

• How do I set up by Bonus$aver Account as my salary crediting account?

  You just need to inform your HR department of your Bonus$aver Account number as the salary crediting account. You will only need to do it once.

• If my salary is credited via cheque or fund transfer, will I qualify for the salary credit bonus interest?

  No, unfortunately salary credit via cheque or fund transfer will not qualify. Please inform you HR department to make a direct salary credit through GIRO into your Bonus$aver account.

• How do I qualify for the payment bonus interest?

  You just need to pay any 3 unique bills with your Bonus$aver Account through SC Online Banking or SC Mobile, or through GIRO every calendar month. Multiple bill payments on the same bill within the calendar month will be considered as a single payment.

  If there are multiple joint account holders, the total number of eligible bill payments debited through the account will be considered in meeting the Payment Bonus requirement.

• Why do I want to pay my bills with SCB Online Banking or SC Mobile?

  It is easy to pay your bills using our Online Bill Payment or Pay Any Card services through our award-winning SCB Online Banking and SC Mobile. The user-friendly interface will ease your bill payment with simple steps and clicks.

  To set recurring GIRO payments, download and complete the GIRO forms and submit to the respective billing organisation.

• Where can I find more information on SCB’s payment services?

  For more information on our Online Bill Payment and Pay Any Card services, please click here.
  For GIRO payments into SCB, please click here for the forms.

• Are there payments that are excluded?

  All online bill payments or GIRO that is subsequently cancelled, reversed or made void will not qualify.

  Payments to SCB credit card will not qualify.

  Payments made via AXS, SAM, ATMs or eNETS do not qualify for this interest.

• Will Pay Any Card payments through SCB Online Banking or SC Mobile be considered?

  Yes, subject to minimum amount of S$50.
  However, payments to SCB credit card will not qualify.

• When will I qualify for the wealth bonus interest?

  Only new eligible financial products purchased from 1 July 2016 will qualify for the Invest or Insure Bonus.

  You will receive bonus interest for 12 months from the following month from the date of purchase.

• What happens if I purchase more than one eligible product?

  The 12-month period for this bonus interest will begin after the purchase has been made of the latest eligible financial product purchase.

  Multiple purchases will not be aggregated for consideration towards the required minimum amount.

• Do I continue to receive this bonus interest if I sell my investments or when they mature?

  Yes. You will continue to receive this bonus interest even after sale of the Unit Trust or when your policy ceases.

• What are the eligible products and respective qualifying amounts?

  Only new eligible financial products purchased from 1 July 2016 will qualify for the Invest or Insure Bonus.

  Please refer to the following for the full list of eligible financial products.

  For Insurance, all policies will be included except for single premiums.

  
  
  

  For Investment, all Unit Trusts (UT) will be included except for:

  • Exchange traded funds;
  • Investments via regular savings plans;
  • Switching transactions; and
  • Transfer of UT from other banks.

• How can I pay for the eligible financial products?

  There are many ways to pay for insurance or investment products:

  • Insurance: Cash, cheque or credit card
  • Unit Trusts: Funds from your SCB deposit account

• What financial products are excluded from this bonus?

  These are examples of financial products that do not qualify for this bonus:

  • Exchange traded funds;
  • Investments via regular savings plans;
  • Switching transactions; and
  • Transfer of UT from other banks.

• I’ve previously purchased an insurance policy, will I be eligible for the bonus interest under Wealth?

  No, only new purchases from 1 July 2016 will be considered.

• If I have more than one Bonus$aver account, which account will the wealth bonus interest be credited into?

  If you have multiple Bonus$aver accounts, the wealth bonus interest will be credited into the account that was first opened (based on account open date).

• If I have more than one Bonus$aver account, can I nominate which account will receive the wealth bonus interest?

  No, the wealth bonus interest will be credited into the account that was first opened (based on account open date).

  Do consolidate your funds and credit/debit card spends accordingly so that you will enjoy the full benefit of the Bonus$aver product.

• How do I open an e$aver account?

  You can open an e$aver account in 3 easy steps:
  • Complete a simple application form that is available online (forms are also available at all branches)
  • Attach a copy of each applicant's NRIC (front & back)
  • Mail your application with a cheque in the Business Reply Envelope available online (Each applicant is to provide an initial deposit - a cheque drawn on his/her personal account in the applicant's name at another local or Qualifying Full Bank)

  Note: Foreigners must apply for e$aver at any of our branches.

• Can I open an e$aver account by mailing in my application with a cashier's order?

  To open an e$aver account via mail-in application, you need to provide a cheque drawn on your personal account in your name at another local or Qualifying Bank. A cashier's order is not acceptable and in such an instance, please apply at any of our branches.

• What if the signature on my e$aver application form & my cheque differs? Will my e$aver application be accepted?

  No, if the signature on your e$aver application form & your cheque differs, your e$aver application will not be accepted.

• Can I open e$aver with joint account holder(s)?

  Yes, you can open e$aver with a maximum of 1 joint account holder besides yourself, that is, there can only be 1 main account holder & 1 joint account holders.

• I have a joint account with my wife in another bank. I will be opening an e$aver joint account with my wife and issuing a cheque from my joint account from another bank. Do my wife and I need to issue a cheque each?

  Yes, to open an e$aver joint account, each applicant is to provide an initial deposit so your wife and yourself need to issue a cheque each.

• How do I know that my e$aver account application has been successful?

  An account opening confirmation letter to inform you of your successful application for e$aver will be sent to you within 7 working days. The account opening confirmation letter will contain your e$aver account number (10 digits). If you are new Internet Banking/Phone Banking user, the letter will contain your Internet Banking/Phone Banking User ID and your Internet Banking PIN & Phone Banking PIN will be sent to you separately. If you are an existing Internet Banking/Phone Banking user, the letter will contain your existing Internet
  Banking/Phone Banking User ID and you can immediately access your e$aver account with your existing Internet Banking & Phone Banking PINs.

• How do I request for the e$aver account opening confirmation letter to be resent to me as my e$aver account has been set up more than 2 weeks ago but I have not received the letter?

  Please call our customer service hotline at 1800 747-7000 to request for your e$aver account opening confirmation letter to be resent to you.

• How long does it take for my Internet Banking PIN to reach me?

  Your Internet Banking PIN will be sent to you within 7 working days.

• How do I request for a new Internet Banking PIN if I have forgotten or lost my existing Internet Banking PIN?

  Please call our customer service hotline at 1800 747-7000 to request for a new Internet Banking PIN or you can SMS "PIN" to 9012 7000 for our customer service officer to call you.

• For e$aver joint accounts, will there be a separate account opening confirmation letter sent to the joint applicant?

  Yes, for e$aver joint accounts, there will be a separate account opening confirmation letter sent to the joint applicant.

• For e$aver joint accounts, will the main account holder & joint account holder share the same Internet Banking User ID and PIN or will they be given separate User IDs and PINs?

  For e$aver joint accounts, the main account holder & joint account will be given separate User IDs and PINs.

• For e$aver joint accounts, if the main account holder is a new Internet Banking user and the joint account holder is an existing Internet Banking user or vice versa, what will be account opening confirmation letters reflect?

  For e$aver joint accounts, separate account opening confirmation letters will be sent to the main account holder & the joint account holder. If the main account holder is a new Internet Banking user, the letter will reflect his new Internet Banking User ID and a new Internet Banking PIN will also be sent to him. If the joint account holder is an existing Internet Banking user, the letter will reflect his existing Internet Banking User ID and he can immediately access the account with his existing Internet Banking PIN. If the joint account holder has forgotten or lost his Internet Banking PIN number, then he can request for a new PIN number via our customer service hotline at 1800 747-7000.

• I do not have a mobile phone. How do I apply for Internet Banking Funds Transfer (as it is stated in the application form that a mobile phone number is required for Internet Banking 3rd Party Payee set-up & change of particulars)?

  If you do not have a mobile phone, please register for Internet Banking Funds Transfer by completing the Electronic Banking Services Application Form that is available at our website. To add more Internet Banking Funds Transfer payees, please continue to do so via the Electronic Banking Services Application Form.

• I want to I am an existing Internet Banking user. Can I use my existing Internet Banking User ID & PIN to access my e$aver account?

  Yes, you can use your existing Internet Banking User ID & PIN to access your e$aver account.

• If I close my e$aver account before the interest crediting date, will I still be paid any interest?

  Interest is calculated daily and credited monthly at the end of every month. If you close your e$aver account before the end of the month, interest will be paid up to the day before account closure.

• I want to close e$aver. How do I do so?

  To close e$aver, please go to any of our branches or contact us on 1800-747 7000.

• Can I write in to the Bank to close e$aver?

  No, mail-in requests to close e$aver will not be accepted. To close e$aver, please go to any of our branches.

• What is e$aver?

  e$aver is an innovative savings account that is designed to compliment your regular savings or checking accounts. e$aver focuses on earning high interest rates on your savings while giving you the flexibility to transfer your funds to your savings or checking account anytime you need to.

  Note: e$aver operates with NO ATM Card, Passbook or monthly statements. Account Holders must view their record of transactions via Internet Banking.

• What are the benefits of e$aver?

  Unlike other savings accounts, e$aver earns you interest that is comparable to fixed deposits. As interest is based on a flat rate, you earn the same high interest from the very first dollar. Also, there is no monthly fee and there is no need to maintain a monthly minimum balance so e$aver is a simple and easy solution to managing your savings online.

• Is e$aver suitable for me?

  e$aver is suitable for anyone who enjoys online banking. You can start saving from as little as S$1. e$aver does not replace your regular savings or checking account as it exists for you to put your spare cash from these accounts to make it work harder. And when you need the cash, you can electronically transfer to any account of your choice.

• Am I eligible for e$aver?

  You are eligible to open an e$aver account if you are 21 years old and above. For joint account applicants, both parties must be 21 years old and above.

• What are the interest rates for e$aver?

  The interest rates for e$aver are as follows:
  e$aver Deposit Interest Rate (With effect from 1 Jan 2012)

  Deposit Balance	Interest Rate
  Less than S$50,000	0.10 % p.a.
  S$50,000 to S$199,999	0.15 % p.a
  S$200,000 & above	0.25 % p.a.

  Note: The Bank reserves the right to revise interest rates at any time without notice.

• Must I keep e$aver open for a minimum period? What happens if I close e$aver within 6 months?

  There is NO lock-in period for e$aver so there is no need for you to keep e$aver open for a minimum period. Even if you close e$aver within 6 months, there is no penalty or fee.

• Is there a monthly fee payable for e$aver?

  There is NO monthly fee payable for e$aver.

• Is there a minimum balance that needs to be maintained on a monthly basis for e$aver?

  A fall below fee of S$5 per calendar month will be charged if your average daily balance in your e$aver account for that calendar month is less than S$1,000.

• Will I be issued a passbook or ATM card for e$aver?

  No, you will be not issued a passbook or ATM card for e$aver as we have taken away all the things you don't need to give you unbelievably high interest rates on your savings.

• Will I receive monthly statements for e$aver?

  No, you will not receive monthly statements for e$aver. You can view, download and print your record of transactions via Standard Chartered Online (Internet Banking).

• How do I deposit funds into e$aver?

  You can deposit funds into e$aver via:
  • Other banks' Internet Banking, Standing Instruction (SI) or GIRO
  • Cash deposit at branches
  • Cheque mail-in or drop-off at branches

• How do I withdraw funds from e$aver?

  You can withdraw funds from e$aver via:
  • Internet banking funds transfer to another bank account from Standard Chartered Bank (Singapore) Limited or to other GIRO-participating banks in Singapore
  • Phone banking funds transfer to another bank account within Standard Chartered Bank (Singapore) Limited
  • Cash withdrawal over the counter at branches

  Note: Cash withdrawal over the counters at branches will incur a S$5 service fee per withdrawal regardless of amount (waived for account closure).

• Is there a charge for funds withdrawal from e$aver via a cashier's order at branches?

  Funds withdrawal from e$aver via a cashier's order (payable to yourself) at branches is free of charge.

• Other than funds transfer, what else can my e$aver account do via Internet Banking?

  Other than funds transfer, via Internet Banking, you can also:
  • Pay your Standard Chartered credit card bills
  • Pay bills at many participating merchants
  • Check your balance and access your bank transactions online
  • Open a fixed deposit account online

• Are there any other fees & charges for e$aver?

  Other than for cash withdrawals at branch counters (S$5 service fee per withdrawal regardless of amount), there are NO other fees and charges for e$aver.

• What happens if my e$aver account has S$0 balance?

  If your e$aver account has S$0 balance for 30 days, then your account will automatically be closed.

• I have an existing Standard Chartered Savings Account. Can I withdraw funds from my e$aver account with my Savings Account passbook?

  No, you cannot withdraw funds from your e$aver account with your existing Standard Chartered Savings Account passbook. You have to transfer funds from your e$aver account to your Savings Account to withdraw funds from your e$aver account.

• I have an existing Standard Chartered Cheque & Save Account. Can I withdraw funds from my e$aver account with my Cheque & Save Account ATM card?

  Yes, you can withdraw funds from your e$aver account with your existing Standard Chartered Cheque & Save Account ATM card provided that your e$aver account is linked to your ATM card.

• I have an right SC credit card. Can I designate my Credit Card as an ATM Card for cash withdrawal?

  Yes, you can designate your existing Standard Chartered credit card as an ATM card for cash withdrawal from your e$aver account. You must be careful that when you withdraw cash from the ATM, you select your e$aver account and not the cash advance feature.

• Can I use my e$aver account as a repayment account for Standard Chartered's Personal Loans or Housing Loans?

  Yes, you can use your e$aver account as a repayment account for Standard Chartered's Personal Loans or Housing Loans.

• Can I use my e$aver account as a transactional account to be linked to my Structured Deposit account/Premium Currency Investment account/Unit Trust account?

  Yes, you can use your e$aver account as a transactional account to be linked to your Structured Deposit account/Premium Currency Investment account/Unit Trust account.

• What currencies can e$aver be opened with?

  Currently, e$aver is only available in Singapore dollars.

• How do I transfer funds to 3rd party accounts with Standard Chartered Bank (Singapore) Limited and in other banks in Singapore via Internet Banking?

  For funds transfers to 3rd party accounts with Standard Chartered Bank (Singapore) Limited and other banks in Singapore via Internet Banking, you will need to set up the 3rd party account first. To set up 3rd party accounts, you need to ensure that your registered mobile number is updated as you need to retrieve your Additional Online PIN (AOP) with your registered mobile number for the 3rd party account to be successfully set up.

• Is there a limit to the amount of funds that I can transfer to 3rd party accounts with Standard Chartered Bank (Singapore) Limited or other banks in Singapore via Internet Banking?

  There is a daily transfer limit. Please refer to the Transfer Limit Setting in Standard Chartered Online (Internet Banking) for your individual transfer limit.

• For e$aver joint accounts, will the main account holder & joint account holder have their individual daily transfer limits or do they share the same transfer limit?

  For e$aver joint accounts, the main account holder & joint account holder will have their individual daily transfer limits.

• Can I increase my Internet Banking funds transfer daily limit?

  Yes, you can increase your Internet Banking funds transfer daily limit to SGD 100,000 but this is applicable only for funds transfer to 3rd party payee accounts with Standard Chartered Bank (Singapore) Limited. To enjoy a higher daily limit, simply log in to Online Banking, go to ‘My Preferences’ and update the limit under ‘Online Security & Limits Maintenance’.

• Can I transfer funds to 3rd party accounts with other banks outside of Singapore via Internet Banking?

  No, you can only transfer funds to 3rd party accounts with GIRO-participating banks in Singapore via Internet Banking.

• What is Standard Chartered's Bank Code & Branch Code that should be used when I set up an Internet Banking funds transfer from 3rd party accounts with other banks to my e$aver account?

  To set up an Internet Banking funds transfer from 3rd party accounts with other banks to your e$aver account, Standard Chartered's Bank Code is 7144 and the Branch Code is 0 followed by the first 2 digits of your e$aver account number (your e$aver account number is found in your account opening confirmation letter).

• Can I set up an Internet Banking funds transfer when I am overseas?

  No, you cannot set up an Internet Banking funds transfer when you are overseas. This is because when you try to retrieve your Additional Online PIN (AOP) when you are overseas, your mobile number will not be reflected and thus, cannot be verified for your AOP to be issued to you.

• Once I set up an Internet Banking funds transfer to 3rd party accounts with Standard Chartered Bank (Singapore) Limited or other banks, can I transfer funds to these 3rd party accounts immediately?

  Yes, once the Internet Banking funds transfer to a 3rd party account with Standard Chartered Bank (Singapore) Limited or other banks has been successfully set up, you may proceed to transfer funds within the same day.

• When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with Standard Chartered Bank (Singapore) Limited via Internet Banking?

  Funds transfer to 3rd party accounts with Standard Chartered accounts via Internet Banking will take effect right after the transaction.

• When will the funds be available in the receiving account after I do a funds transfer to 3rd party accounts with other banks in Singapore via Internet Banking?

  When you confirm your instruction before 6pm on a business day, the funds will be available to the payee 2 to 3 business days later, subject to the payee bank.

• I transferred funds to a 3rd party account with Standard Chartered Bank (Singapore) Limited/other banks in Singapore via Internet Banking but it was unsuccessful. Why is this so?

  For funds transfers to 3rd party accounts with Standard Chartered Bank (Singapore) Limited/other banks in Singapore via Internet Banking, when you set up the 3rd party account, it is essential to provide the following information correctly: Payee Bank Code, Payee Branch Code and the Payee Account Number to effect the transfer. You are advised to contact the payee bank if you are unsure of any of the aforementioned requirements. The payee bank reserves the right to return any instructions of incomplete/invalid payee branch codes and account number.

• What should I do if I am unable to retrieve my Additional Online PIN (AOP)?

  If you are unable to retrieve your Additional Online PIN (AOP), it may be because your registered mobile number is not updated. To update your registered mobile number, please do so online at our Internet Banking website or perform a manual submission by completing the Particulars Update Form that is available online at our Internet Banking website.

• What is my e$aver account number? Also, I can access my e$aver account via Internet Banking but my account number is only 4 digits. Why is this so?

  Your e$aver account number (10 digits) is found in your e$aver account opening confirmation letter that will be sent to you within 7 working days from the day that you applied for the account. When you access your e$aver account via Internet Banking, only the last 4 digits of your account number will be displayed on the screen for security purposes.

• For Internet Banking, how long will my bank transactions remain online?

  For Internet Banking, your bank transactions will remain online for 2 months.

• How does the Bank keep customers' information safe and secure?

  The Bank takes customers' security and privacy very seriously. As such, we employ encryption technology to rigorously secure Internet Banking connections or communication between the customer and the Bank. The Bank also has processes and procedures to verify customer identity to ensure that customer requests related to their account(s) come directly from them.

• Can I use my Internet Banking PIN to access my e$aver account via Phone Banking?

  Yes, your Internet Banking User ID is also your Phone Banking User ID so you can use your Internet Banking User ID to access your e$aver account via Phone Banking. However, please note that your Internet Banking PIN (6 digits) & Phone Banking PIN (5 digits) are separate PINs.

With effect from 1 May 2011, the Deposit Insurance Scheme comes under the Deposit Insurance And Policy Owners' Protection Schemes Act 2011, with the following material changes:

1. The insured deposit coverage limit has been increased to S$50,000 per depositor, per Scheme member.
2. Insured depositors now include depositors in general (including sole proprietorships, partnerships, companies, societies and associations), except for depositors who are themselves banks.

• What is the scope of the Deposit Insurance Scheme?

  From 1 May 2011, Singapore dollar deposits held by non-bank depositors in eligible savings, fixed deposit and current accounts will be insured up to S$50,000 per depositor in accordance with the Deposit Insurance And Policy Owners' Protection Schemes Act 2011.

• What types of deposits are covered under the Deposit Insurance Scheme?

  Generally, all Singapore dollar deposits in savings, fixed deposit and current accounts are covered. You can find a list of eligible Standard Chartered deposit accounts on the Bank's Insured Deposit Register.

  CPFIS deposits are also eligible for separate coverage under the Deposit Insurance Scheme. However, Standard Chartered Bank (Singapore) Limited does not offer CPFIS deposits.

• Who is covered under the Deposit Insurance Scheme?

  Depositors in general (including sole proprietors, partnerships, companies, societies and associations) are covered.

  Depositors who are themselves banks are excluded.

• Are the deposits held by a corporate entity insured under the Deposit Insurance Scheme? Will the coverage be aggregated for a group of related entities?

  All eligible deposits held by non-bank entities, including corporate entities, will be insured up to a maximum of S$50,000 for each entity. The Deposit Insurance coverage is not aggregated for a group of related entities. The eligible deposits of each entity will be aggregated, and insured up to a maximum of S$50,000 for that entity.

• Are foreign currency deposits covered under the Deposit Insurance Scheme?

  No. Only Singapore dollar deposits are covered under the Deposit Insurance Scheme.

• Are structured deposits covered under the Deposit Insurance Scheme?

  No, structured deposits are not covered under the Deposit Insurance Scheme.

• How can I find out if my Standard Chartered deposit is eligible for coverage under the Deposit Insurance Scheme?

  If your Singapore dollar deposit is in one of Standard Chartered's deposit accounts listed on the Bank's Insured Deposit Register, it will be eligible for coverage under the Deposit Insurance Scheme.

  You may refer to the Bank's Insured Deposit Register to find out if your Standard Chartered deposit account is eligible for coverage under the Deposit Insurance Scheme.

• How much will my deposits be insured for under the Deposit Insurance Scheme?

  All eligible deposits belonging to you will be aggregated and insured up to a maximum of S$50,000.

  Example: You have (i) an individual e$aver account with a balance of S$10,000, (ii) an individual Cheque and Save account with a balance of S$10,000 and (iii) an individual Time Deposit account with a balance of S$60,000. Your aggregate deposit with Standard Chartered Bank (Singapore) Limited is S$80,000. Under the Deposit Insurance Scheme, your deposits will be insured at the cap of S$50,000.

• How is the coverage limit calculated for joint accounts?

  For joint accounts, the deposit balance is divided equally among all account holders. Thereafter, the same rules for calculating insurance coverage for deposits belonging to individual will apply.

  Example: You have (i) an individual e$aver account with a balance of S$20,000 and (ii) a joint Cheque and Save account with a balance of S$80,000 with your spouse. For the purposes of the Deposit Insurance Scheme, both you and your spouse will be attributed half of the balance of the Cheque and Save account. Your aggregate deposit with Standard Chartered Bank (Singapore) Limited is therefore S$60,000. Under the Deposit Insurance Scheme, your deposits will be insured at the cap of S$50,000. In addition, your spouse's share of the deposit in the Cheque and Save account will be insured for S$40,000.

• I am a sole proprietor. How will my deposits be insured?

  Deposits held by your sole proprietorship will be treated as if they were held by you. For the purposes of calculating the insurance coverage, deposits held by your sole proprietorship will be aggregated with deposits held by you in your own name.

  Example: You are the sole proprietor of ABC Company, which has a deposit of S$60,000. You also have a S$20,000 deposit in your personal account. Your deposits will be aggregated and insured at the cap of S$50,000.

• I am a partner in a partnership. How will the partnership's deposits be insured?

  A partnership is treated as a single entity for the purpose of calculating the insurance coverage.

  Example: You are a partner of ABC partnership, which has 3 partners. The partnership has a deposit of S$60,000 with Standard Chartered Bank (Singapore) Limited, and you also have a S$20,000 deposit in your personal account. The partnership account will be insured at the cap of S$50,000, and your deposit will separately be insured for S$20,000. The partnership's deposit will not be split three ways.

• I have a trust account. Who is treated as the depositor of the account?

  From 1 May 2011, the trustee (and not the beneficiary) will be treated as the depositor of the account.

  Coverage will be on a per account basis and will not be aggregated with other accounts held by the same trustee or with the trustee's own accounts.

  Example: You have (i) an individual e$aver account with a balance of S$20,000, (ii) Trust Accounts A with a balance of S$60,000 and your son as the beneficiary and (iii) Trust Account B with a balance of S$15,000 and your daughter as the beneficiary. Your insured deposit coverage will be based on your e$aver account only i.e. S$20,000. Separately, Trust Account A will be insured at the cap of S$50,000 and Trust Account B will be insured for S$15,000. If your son has an individual e$aver account with a balance of S$5,000, his deposit will not be aggregated with the deposit in Trust Account A. Instead, his deposit will separately be insured for S$5,000.

• How will the deposits in client accounts be insured?

  Coverage will be on a per account basis and will not be aggregated with the depositor's own account or with other client accounts.

  Example: If a law firm maintains (i) a firm account, (ii) a client account for a client Mr Tan and (iii) another client account for a client Mr Lee, each of the three accounts will be insured up to the respective coverage limit of S$50,000.

• I have outstanding liabilities with the Bank. How will this affect any compensation due to me under the Deposit Insurance Scheme?

  The compensation payout is based on the gross amount of insured deposits (up to the cap of S$50,000) without netting off your liabilities to the Bank.