Terms and Conditions of 2019 Standard Chartered Bank Marathon Savings Account Promotion

Transcription

1 Terms and Conditions of 2019 Standard Chartered Bank Marathon Savings Account Promotion You need to read this document. It sets out specific terms and conditions on which we agree to provide you with any of the products and services under the Marathon Savings Account Promotion. You must read it in conjunction with our Client Terms, and the applicable documents referred to in Part A of Client Terms (including the Current/Cheque/Savings Account and Time Deposit Account Terms, product brochure, promotional terms (if applicable)) and any other documents forming our banking agreement which are binding on you. The banking agreement is available to you at any of our branches or our website at If there is any inconsistency between the approval (if any) and any other part of our banking agreement, then the terms in the approval prevails. These terms do not apply to any existing product(s) or service(s) you have with us to the extent that they are subject to separate terms and conditions. Meaning of words Other than the defined terms here or under the product brochure or promotional terms (if applicable), you also need to refer to the other documents that form our banking agreement which define key words used in this document. For instance, please note: You mean the person named as the applicant in the application. If there is more than one, you mean each person separately as well as every 2 or more of them jointly. We (without limiting the meaning defined in Client Terms) or Bank means Standard Chartered Bank (Hong Kong) Limited for this application. Terms and Conditions relating to the 2019 Standard Chartered Bank Marathon Savings Account Promotion ( Promotion ) A. General Terms and Conditions for the Promotion 1. The account sign-up period under the Promotion is 1 March to 1 April 2019 (both dates inclusive) ( Account Sign-up Period ). 2. Marathon Savings Account is available in Hong Kong Dollar ( HKD Marathon Savings Account ), United States Dollar ( USD Marathon Savings Account ) and Renminbi ( RMB Marathon Savings Account ) only during the Account Sign-up Period (as defined in Clause 1 of Section A). HKD Marathon Savings Account is a Hong Kong Dollar ( HKD ) Statement Savings Account, USD Marathon Savings Account is a United States Dollar ( USD ) Statement Savings Account and RMB Marathon Savings Account is a Renminbi ( RMB ) Statement Savings Account. They 1

2 will be shown as a general HKD Statement Savings Account, USD Statement Savings Account and RMB Statement Savings Account on the monthly statement respectively. 3. In respect of opening a new HKD Marathon Savings Account under the Promotion, New Funds refers to the net growth in the client s total deposit balance of all designated HKD deposit accounts with the Bank as at the opening date of such new account, (which includes the amount of any funds transferred into any such new savings account(s) account as a result of currency exchange from foreign currency savings account(s)), when compared with the client s total balance of all such designated deposit accounts as at 28 February Such deposit balance shall take into account the balance under HKD time deposit accounts, HKD savings accounts, HKD current accounts and any HKD savings sub-account and HKD current sub-account under an Integrated Deposits Account, but exclude the balance under any MortgageOne account and any joint name account of which the client is not the primary account holder. 4. In respect of opening a new USD Marathon Savings Account under the Promotion, New Funds refers to the net growth in the client s total deposit balance of all designated USD deposit accounts with the Bank as at the opening date of such new account (which includes the amount of any funds transferred into any such new savings account(s) as a result of currency exchange from any HKD or other foreign currency savings account(s)), when compared with the client s total balance of all such designated deposit accounts as at 28 February Such deposit balance shall take into account the balance under USD time deposit accounts, USD savings accounts, USD current accounts and any USD savings subaccount and USD current sub-account under an Integrated Deposits Account, but exclude the balance under any joint name account of which the client is not the primary account holder. 5. In respect of opening a new RMB Marathon Savings Account under the Promotion, New Funds refers to the net growth in the client s total deposit balance of all designated RMB deposit accounts with the Bank as at the opening date of such new account (which includes the amount of any funds transferred into any such new savings account(s) as a result of currency exchange from any HKD or other foreign currency savings account(s)), when compared with the client s total balance of all such designated deposit accounts as at 28 February Such deposit balance shall take into account the balance under RMB time deposit accounts, RMB savings accounts, RMB current accounts and any RMB savings subaccount and RMB current sub-account under an Integrated Deposits Account, but exclude the balance under any joint name account of which the client is not the primary account holder. 6. Unless otherwise specified, the opening balance of the new HKD Marathon Savings Account must be at least HK$100,000 and shall not exceed HK$10,000,000, the opening balance of the new USD Marathon Savings Account must be at least US$13,000 and shall not exceed HK$10,000,000 equivalent, the opening balance of new RMB Marathon Savings Account must be at least RMB100,000 and shall not exceed HK$10,000,000 equivalent. 7. During the Account Sign-up Period, multiple Marathon Savings Account opening in same currency is not allowed. For avoidance of doubt, client can only open ONE HKD Marathon Savings Account, ONE USD Marathon Savings Account and ONE RMB Marathon Savings Account during the Account Sign-up Period. 2

3 8. Apart from the initial deposit during opening of the Marathon Savings Account, further deposit to the Marathon Savings Account by any means are not allowed on or before 2 July 2019, except for deposit of Initial Public Offering ( IPO ) refund cheques drawn payable to the account holder which can be made over-the-counter(s) at the Bank or by depositing the cheque via the Bank s cheque collection boxes in the HKD Marathon Savings Account. Clients must write HKD Marathon Savings Account and the account number on the back of the cheque before putting the IPO refund cheque into the Bank s cheque collection boxes. In normal cases, if the IPO refunded cheque is lodged into the Bank s cheque collection boxes before the clearing cut-off time, the cheque will be credited to the HKD Marathon Savings Account on the next working day. After the Bonus Period (as defined in Clause 2 of Section B), deposit will be accepted again. The HKD Marathon Savings Account, the USD Marathon Savings Account and the RMB Marathon Savings Account will be operated and treated in the same way as a general HKD Statement Savings Account, USD Statement Savings Account and RMB Statement Savings Account respectively. 9. The Bank reserves its right not to open any Marathon Savings Account or not to transfer any sum to any Marathon Savings Account if the New Funds or any sums or any part thereof is to be transferred from any bank account(s) within the Bank (whether in the name of the client solely or jointly with any third party or any third party solely). 10. The Bank has the sole and final discretion to determine and amend the end date of the Account Sign-up Period without prior notice. 11. We reserve the right to determine the criteria and requirements applicable to each of the respective products and services that you apply with us (including but not limited to the Marathon Savings Account and our Banking Plans (i.e. Priority Banking, Premium Banking or Easy Banking) or to decline your application in its entirety or of each such products and services or in its without given you any reason for doing so. 12. In the event that the client is also entitled to other prevailing promotion offer(s) or deposit privilege(s), the Bank reserves the right to provide only one or some of the offer(s) and/or privilege(s) at its absolute discretion. 13. Quota is limited and the Promotion is available on a first-come-first-served basis. 14. The Promotion is applicable to clients with Priority Banking, Premium Banking or Easy Banking. If the average daily Relationship Balance of the client within the quarter falls below the amount determined by the Bank, quarterly maintenance fee will be charged. For details, please refer to Service Charges booklet and Banking Terms & Conditions which can be obtained at any of our branches or at our website Banking Plan Average Daily Relationship Balance within the quarter falls below Priority Banking HKD1,000,000 HKD900 Premium programme HKD200,000 HKD360 Quarterly Maintenance Fee 3

4 Easy Banking HKD10,000 HKD Employees of the Bank are not eligible for the Promotion or the offers under it. 16. We reserve the right to vary, modify or terminate the Promotion, and to amend the important notes, terms and conditions or any other contents here at any time. Any benefit, promotional offer or welcome gift for successful account opening is subject to availability and we may terminate, extend or change such offer at our discretion from time to time without notice to you. In case of any dispute, our decision shall be final and conclusive. 17. If there is any inconsistency or conflict between the English and the Chinese versions, the English version shall prevail. B. Terms and Conditions for Preferential Savings Interest Rate Offer for Marathon Savings Account 1. To be eligible for the preferential savings interest rate for Marathon Savings Account for the respective phases as set out in Clause 2 of this Section, the following requirements must be fulfilled: (i) Clients must be existing clients who hold a Priority Banking, Premium Banking or Easy Banking ( Banking Plan ) or New-to-Bank Clients (as defined below) who sign up for a Banking Plan during the Account Sign-up Period; (ii) Clients must sign-up for Marathon Savings Account during the Account Sign-up Period as stipulated in Clause 1 of Section A; and (iii) Clients must deposit all New Funds to the newly signed-up Marathon Savings Account at the time of account opening. New-to-Bank Clients refers to clients who did NOT hold any product or service with or distributed by the Bank (including but not limited to deposit account, investment services and insurance products underwritten by third party insurer) in the past 12 months from the date of signing up of the new Banking Plan. Clients having held or currently holding Standard Chartered credit cards will not be regarded as having held any product or service with or distributed by the Bank for the purposes of the meaning of New-to-Bank Clients. Standard Chartered credit cards refers to Standard Chartered Credit Card, Standard Chartered WorldMiles Card and Standard Chartered co-branded credit card (including supplementary cards and corporate cards) issued by the Bank. 2. Subject to Clause 3 of this Section, during the period between the opening date of the Marathon Savings Account and 2 July 2019 ( Bonus Period ), the Marathon Savings Account opened during the Account Sign-up Period will be entitled to a preferential savings interest rate as follows: Bonus Period Preferential Savings Interest Rate (per annum) 4

5 Marathon Savings Account Phase 1: Opening date of the Marathon Savings Account to 30 April 2019 (both dates inclusive) Phase 2: 1 to 31 May 2019 (both dates inclusive) Phase 3: 1 June to 2 July 2019 (both dates inclusive) HKD 1.50% p.a. 1.60% p.a. 1.80% p.a. USD 2.08% p.a. 2.38%p.a. 3.68%p.a. RMB (for non- Priority Banking) RMB (for Priority Banking) 2.15% p.a. 2.55% p.a. 2.95% p.a. 2.20%p.a. 2.60%p.a. 3.00% p.a. 3. The preferential savings interest rates as stipulated in Clause 2 of this Section are for reference only and are not guaranteed. Preferential savings interest rates are subject to change from time to time and at our sole and absolute discretion. The prevailing preferential savings interest rate can be obtained from any of our branches or from the Bank s website After the Bonus Period, the Bank s prevailing savings interest rates will apply to the relevant account. 4. Interest of the HKD Marathon Savings Account during the Bonus Period will be calculated based on the total deposit balance of the HKD Marathon Savings Account at the relevant preferential savings interest rate as stipulated in Clause 2 of Section B, and will be compounded daily on a 365-day or 366-day basis (for leap year). 5. Interest of the USD Marathon Savings Account during the Bonus Period will be calculated based on the total deposit balance of the USD Marathon Savings Account at the relevant preferential savings interest rate as stipulated in Clause 2 of Section B, and will be calculated on a 360-day basis and as simple interest. Interest of the RMB Marathon Savings Account during the Bonus Period will be calculated based on the total deposit balance of the RMB Marathon Savings Account at the relevant preferential savings interest rate as stipulated in Clause 2 of Section B, and will be calculated on a 360-day basis and as simple interest. Risk Disclosure Statement for RMB Deposit Services: Renminbi ("RMB") exchange rate, like any other currency, is affected by a wide range of factors and is subject to fluctuations. Such fluctuations may result in gains and losses in the event that the client subsequently converts RMB to another currency (including Hong Kong Dollar); and RMB is currently not freely convertible and conversion of RMB through banks in Hong Kong is subject to restrictions specified by the Bank and regulatory requirements applicable from time to 5

6 time. The actual conversion arrangement will depend on the restrictions prevailing at the relevant time. Foreign Exchange Risk Disclosure Statement: Foreign exchange involves risks. Fluctuation in the exchange rate of a foreign currency may result in gains or significant losses in the event that the client converts deposit from the foreign currency to another currency (including Hong Kong Dollar). Issued by Standard Chartered Bank (Hong Kong) Limited 6