Important Changes to Current/Cheque/Savings Account and Time Deposit Terms and SuperSalary Product Terms

With effect from 1 April 2016, our Current/Cheque/Savings Account and Time Deposit Terms and our SuperSalary Product Terms will be revised to introduce a S$60 cap on monthly CashBack per SuperSalary Account, excluded transactions for CashBack and other changes.

What’s new?

The following is a summary of changes:

1. Cap on Monthly CashBack
   Monthly CashBack is subject to a cap of S$60 per SuperSalary account.
2. Cap on number of SuperSalary accounts
   You may have a maximum of two (2) SuperSalary accounts at any one time provided that the SuperSalary accounts are governed by different account opening authorities, and you may be the primary account holder for only one (1) SuperSalary account at any one time.
3. Transactions which do not qualify for CashBack under the SuperSalary account
   The following transactions will not be taken into consideration when determining your eligibility for any CashBack and the amount of CashBack you are entitled to in a calendar month:
   1. any transaction arising from the use of your SuperSalary MasterCard debit card as an ATM card at an ATM or at a EFTPOS or NETS terminal;
   2. any insurance premiums, including premiums for investment-linked policies;
   3. any payments to loans or credit facilities or deposit accounts;
   4. any payments to the Immigration and Checkpoints Authority, Ministry of Manpower and Land Transportation Authority;
   5. any EZ-Link card transactions and other transit link transactions;
   6. any top-up of stored value facility;
   7. any fees and charges (including annual fees, interest charges and other miscellaneous fees) charged to your SuperSalary MasterCard debit card;
   8. any amount charged to your SuperSalary MasterCard debit card that is subsequently cancelled, voided or reversed; and
   9. such further or other payments charged to your SuperSalary MasterCard debit card as we may determine and notify you from time to time.
4. Crediting of CashBack
   CashBack will be credited to your SuperSalary account by the end of the next calendar month.
5. Right to claw back any CashBack
   We reserve the right to claw back any CashBack credited in the event that we determine that any of the product requirements or the terms of our banking agreement had not been complied with, and in particular, under specific circumstances set out in the revised terms.

Unless otherwise specified, all other terms and conditions relating to your debit cards and/or Current/Cheque/Savings Accounts remain unchanged and continue to be binding on you.

Please click here for details on the revised SuperSalary Product Terms applicable from 1 April 2016.

When will the changes be effective?

The revised terms will apply from 1 April 2016.

Where do I obtain copies of the revised terms?

You may obtain a copy of our revised Current/Cheque/Savings Account and Time Deposit Terms and SuperSalary Product Terms on our website herefrom 1 April 2016. Alternatively, you may also visit any of our branches or call 1800 747 7000 to request for hard copies of these terms from 1 April 2016.

Who can I call if I have questions on these changes?

If you have any questions on the changes, please call our 24-hour Phone Banking Team at 1800 747 7000 or visit any of our branches.