1. The SC Remit Promotion (“Promotion”) is available from 1 October 2020 (date inclusive) to such date as may be determined by Standard Chartered Bank (Singapore) Limited (the “Bank”) in its sole and absolute discretion (such period to be referred to as the “Promotion Period”). By participating in the Promotion, you agree to be bound by these terms and conditions.

Participation and Eligibility

2. To be eligible for the Promotion, you must be an existing customer of the Bank, and:
   1. you are an existing user of or have signed up for Standard Chartered Online Banking (“Online Banking”) or Standard Chartered Mobile Banking (“Mobile Banking”);
   2. you hold one or more valid current/cheque/savings accounts in the following currencies: Singapore Dollar (“SGD”), United States Dollar (“USD”), Australian Dollar (“AUD”), Canadian Dollar (“CAD”), Euro (“EUR”), Pound Sterling (“GBP”), Hong Kong Dollar (“HKD”) and/or Japanese Yen (“JPY”) with the Bank (each, a “Bank Account”); and
   3. each Bank Account must be validly existing (i.e. must not be suspended, cancelled or terminated), in good standing, and conducted in a proper and satisfactory manner at all times, as determined by the Bank in its sole and absolute discretion.
3. To participate in the Promotion, you must successfully complete a remittance transaction during the Promotion Period using Online Banking or Mobile Banking to remit funds of any amount to the below markets in the corresponding currency pairs:

¹Remittance on these currencies to the following destination countries will not be processed from joint accounts and must be sent from individual accounts.

²Remittance on these currencies to the following destination countries cannot be sent to corporate accounts. Corporate accounts are identified when the payee is added as an “International Bank Account (Corporate)” in Online Banking or SC Mobile.

³Remittance on these currencies have the following transaction limits:

• CNY Remittance to Mainland China will be subjected to the regulations of The State Administration of Foreign Exchange of the People’s Republic of China (SAFE). Each Mainland China recipient can receive funds up to USD 5,000 per transaction, up to USD 10,000 daily and up to USD 50,000 annually. CNY Remittance to Mainland China can only be sent to CUP-enabled debit cards. Please provide the debit card PAN number and payee’s China National ID when adding payee details.
• IDR Remittance to Indonesia will be capped at USD 100,000 per transaction. Actual limit might differ due ongoing FX conversion.
• MYR Remittance to Malaysia will be capped at USD 100,000 per transaction. Non-residents beneficiaries for Malaysia will be limited up to MYR 10,000 per transaction and will be rejected. Actual limit might differ due ongoing FX conversion.
• THB Remittance to Thailand will be capped at USD 1,450 per transaction. Actual limit might differ due ongoing FX conversion.
• VND Remittance to Vietnam will be capped at USD 12,500 per transaction. Actual limit might differ due ongoing FX conversion.

⁴SEPA countries include Austria, Andorra, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom & Vatican.

(each such transaction being referred to as a “Qualifying Remittance Transaction” or “QRT”).

Zero Transfer Charges

4. You shall be entitled to a waiver of all transfer charges and expenses (the “Waiver”) imposed by the Bank if you successfully complete a Qualifying Remittance Transaction during the Promotion Period.
5. For the avoidance of doubt, the Waiver applies to all transfer charges and expenses which are charged by the Bank only for a Qualifying Remittance Transaction. At all times, the Bank shall not be responsible for any charges and expenses levied by the beneficiary bank in connection with the Qualifying Remittance Transaction.
6. Without prejudice to clauses 4 and 5 above, the Bank reserves its rights to charge you fees or expenses for cancellation requests, returned remittances and other exceptional handling in accordance with its standard tariffs.

Zero FX Cost

7. From 9 November 2020 (date inclusive) to such date as may be determined by the Bank in its sole and absolute discretion, the Bank will be applying the foreign exchange (“FX”) rate available to us (“Available FX Rate”) for your Selected Qualifying Remittance Transaction (as defined herein) without the Bank imposing any additional FX costs. For the purposes of this Promotion, “Selected Qualifying Remittance Transaction” refers only to a Qualifying Remittance Transaction in INR (as payment currency) made to any account maintained with Standard Chartered Bank, India. The Available FX Rate differs according to the Selected Qualifying Remittance Transaction and refers to (a) the Bank’s proprietary wholesale FX rate, (b) the FX rate provided by the Bank’s service provider to the Bank for the Selected Qualifying Remittance Transaction, or (c) a combination of (a) and (b) as set out in this clause.

General Terms

8. Unless otherwise stated, this Promotion is not valid with other offers, discounts, rebates, vouchers, privileges or promotions.
9. The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the Promotion or terminate, withdraw, extend, suspend or shorten the Promotion at any time in the Bank’s sole and absolute discretion, with or without prior notice or reason (and the Bank shall not be obliged to disclose its reason). You understand and agree to be bound by any such variation.
10. The Bank reserves the right to determine in its sole and absolute discretion all matters arising out of or in connection with the Promotion, including whether you satisfy the criteria to participate in the Promotion, the types of Qualifying Remittance Transactions, the types of Selected Qualifying Remittance Transactions, and/or your eligibility for the Promotion. The Bank’s determination of all matters relating to the Promotion shall be final and binding (the Bank shall not be obliged to disclose its reason) and, no appeal, objection, challenge or correspondence will be entertained.
11. In the event of any inconsistency between these Promotion terms and conditions and any brochures, marketing or promotional materials relating to the Promotion, these Promotion Terms and Conditions shall prevail to the extent of such inconsistency.
12. These Promotion terms and conditions are to be read in conjunction with the Bank’s Customer Terms, Remittance Service Terms, and the relevant products and/or programme terms (collectively, “Other Terms”). If there is any inconsistency between the Other Terms and these terms, these terms shall prevail to the extent of such inconsistency.
13. A person who is not a party to these terms and conditions has no right under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of these terms and conditions.
14. These terms and conditions are governed by and shall be construed in accordance with the laws of the Republic of Singapore and you agree to submit to the exclusive jurisdiction of the courts of the Republic of Singapore.
15. All information is correct at the time of publication.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Updated 1 April 2024