A G U I D E T O O U R C H A R G E S J a n u a r y 2 0 0 3
Contents 3 3 4 5 5 6 6 7 7 Free services Relationship value Adding money to your account Taking money out of your account Charges for other account services International Debit Card London cashier services Investments Foreign exchange An explanation of charges This brochure advises you of our charges, which apply from 1st January 2003. Should you have any queries regarding this information please call your usual contact at the Bank. The Bank reserves the right to: charge additional fees to those detailed in this brochure when exceptional time is incurred amend or vary any charges at any time Any changes will be notified to clients in writing. 2
Free services Payment Services Sterling payments into your account (credits to other currency accounts see page 4) Internal transfers between accounts held at the same office Interest earned on Fixed Term accounts transferred by non-electronic method Clients issuing cheques on International Access accounts (cheque books are only available with a sterling International Access account) Direct Debits (available on sterling International Access account only) Setting up and amendment Sterling payment to UK bank account Standing Orders Setting up and amendment Sterling standing order payments direct to a UK bank Relationship value The Bank s overall minimum relationship requirement is US$100,000 or currency equivalent. This may be held on deposit, in investments or in loans with us. Please note that if the value of your relationship with us falls below this level, our minimum relationship charge of 35/US$50/ 50 per month will be applied. 3
Adding money to your account We recommend that you transfer funds to us electronically as it is both quick and secure, and funds will be credited to your account without any charges from us. Electronic transfers Funds can be transferred to your account electronically via SWIFT (the Society for Worldwide Interbank Financial Telecommunication), CHAPS (the Clearing House Automated Payment System) or BACS (the Bankers Automated Clearing System). All transfers should be accompanied by clear instructions as to the beneficiary s name and account number or reference. When sending sterling please ask for the payment to be sent to us through the United Kingdom CHAPS system quoting sort code 60-91-99, the account name and number or reference. When sending currencies other than sterling electronically, please ask for the payment to be sent directly to us using the international SWIFT system and quoting our SWIFT Code SCBLGB2LSCO, correspondent bank and the other details listed in our Banking Services brochure. Non-electronic transfers Cheques or banker s drafts should be made payable to the person or company into whose account they are to be paid and may be posted directly to us in Jersey. Non-sterling cheques or drafts are accepted as follows: for new clients a maximum value of US$10,000 or currency equivalent, the balance of the initial deposit to be transferred to us electronically; for existing clients, a maximum of US$25,000 or currency equivalent. US dollar items drawn on US banks are credited to your account for value 7 working days after we have received them. Other currency items drawn on banks in the country of the currency concerned will be credited to your account for value 12 working days after we have received them. When US dollar cheques or drafts are sent to the Bank to open an account for a new client, the new account will usually be opened for value 15 working days after the item is received by us. Other cheques and drafts which can only be handled on a collection basis will be credited to your account as soon as we receive the proceeds from the paying bank. All cheques and drafts are purchased with recourse to a client s account and the Bank reserves the right to clear any cheque on a collection basis. Electronic transfers SWIFT/CHAPS/BACS Non-electronic transfers Sterling cheques drawn on UK banks All non-sterling cheques Sterling cheques drawn outside the UK 35/US$50/ 50 or currency equivalent per cheque 35/US$50/ 50 or currency equivalent per cheque 4
Taking money out of your account Electronic transfers (CHAPS/SWIFT) Cheques and drafts issued by the Bank Standing arrangements to settle bills received 30/US$45/ 45 per transfer 30/US$45/ 45 per item 30/US$45/ 45 per bill The above does not include any charges that might be levied by a correspondent bank. Please ensure that all transfer requests clearly include the beneficiary s name and account number or reference, together with the full name and address of the beneficiary s bank. Charges for other account services Special presentation of sterling cheques Copy statements Stopping a cheque Administration fee for unauthorised overdrafts Returned cheque, direct debit or standing order unpaid due to insufficient funds Special mailing arrangements Hold Mail Status enquiries requiring written confirmation Providing an audit letter Providing an income tax letter Encashment facilities* upon request Courier charges Premature repayment of a Fixed Term account Closing and reopening accounts 20 per cheque 10/US$15/ 15 per statement 15 per cheque 25/US$37.50/ 37.50 per occasion 25/US$37.50/ 37.50 per item 250/US$375/ 375 per year or part thereof 250/US$375/ 375 per year or part thereof 25/US$37.50/ 37.50 per written response 50/US$75/ 75 per letter 25/US$37.50/ 37.50 per letter 50/US$75/ 75 per arrangement At cost 100/US$150/ 150 plus the cost to the Bank of funding the repayment A minimum charge of 250/US$375/ 375 per relationship * Minimum withdrawal 100/US$150/ 150 5
Charges at a glance International Debit Card ATM cash withdrawal Currency withdrawn Charge per use Foreign exchange conversion charge (% of transaction amount) Sterling card Sterling Nil Nil Sterling card Non-sterling 1.50 2.75% US dollar card US dollar US$2 Nil US dollar card Non-US dollar US$2 2.75% Euro card Euro 2 Nil Euro card Non-euro 2 2.75% Point of sale in shops, Transaction currency Charge per use Foreign exchange stores, mail order etc. conversion charge (% of transaction amount) Sterling card Sterling Nil Nil Sterling card Non-sterling Nil 2.75% US dollar card US dollar Nil Nil US dollar card Non-US dollar Nil 2.75% Euro card Euro Nil Nil Euro card Non-euro Nil 2.75% Standard Chartered reserves the right to charge: When payments or withdrawals are made and there are insufficient funds on account. If the card is used to guarantee cheques which would normally have been returned unpaid. The charge will be 50/US$75/ 75 per occurrence. Please note that any disputed International Debit Card transactions which are found to be correct will attract an administration fee of 25/US$37.50/ 37.50. London cashier services Withdrawal of up to 10,000 cash from a sterling denominated account Paying in of sterling cash under 10,000 Purchase and sale of foreign currency notes US dollars/euros paid into or withdrawn from an account denominated in US dollars/euros Up to US$15,000/ 15,000 2% commission of face value Minimum charge 10/US$15/ 15 2% commission of face value Minimum charge US$15/ 15 The above cashier services are only offered by prior arrangement with your usual contact at the Bank, and are available in our London office at 54 Jermyn Street, London SW1. 6
Execution only transactions Safe custody charges Investments Equities: First 10,000/US$15,000/ 15,000 1.25% Next 15,000/US$20,000/ 20,000 1.0% Next 20,000/US$30,000/ 30,000 0.5% Next 90,000/US$135,000/ 135,000 0.4% Next 200,000/US$300,000/ 300,000 0.3% Balance above 335,000/US$500,000/ 500,000 0.2% Bonds: First 25,000/US$40,000/ 40,000 0.625% Next 85,000/US$125,000/ 125,000 0.5% Next 225,000/US$335,000/ 335,000 0.2% Balance above 335,000/US$500,000/ 500,000 0.15% Minimum transaction sizes are: 6,500/US$10,000/ 10,000 (or currency equivalent) for equities 15,000/US$25,000/ 25,000 (or currency equivalent) for bonds Safe custody charges will not apply to investments in: Capital Protected Notes marketed by Standard Chartered (Jersey) Limited Standard Chartered Select Standard Chartered Portfolio Standard Chartered Liquidity Fund Transfers Transfers to third parties Transfers into your account Re-registration of certificates 35/US$50/ 50 per line of stock (minimum charge of 150/US$200/ 200) Time spent basis Commission charged (% of transaction value) Fees are charged on the aggregated market value of assets held in the Securities Portfolio. These include safe custody of assets, corporate action monitoring and processing, dividend and coupon entitlement monitoring and processing. Safe custody charges are applied quarterly in arrears, subject to a minimum of 335/US$500/ 500 per year, or part thereof. Safe custody Annual charge (minimum 335/US$500/ 500) First 335,000/US$500,000/ 500,000 0.25% Next 335,000/US$500,000/ 500,000 0.15% Assets in excess of 670,000/US$1,000,000/ 1,000,000 0.10% Safe custody of sealed envelopes 35/US$50/ 50 per annum Buying and selling foreign currency* Forward contracts Foreign exchange Not subject to commission Not subject to commission * Please refer to London cashier services on page 6 for buying and selling foreign currency notes over the counter. 7
Your International Banking Centres Jersey International Banking, Standard Chartered PO Box 80, 15 Castle Street, St Helier, Jersey, JE4 8PT, Channel Islands Tel: +44(0)1534 704555 London International Banking, Standard Chartered Jersey PO Box 33244, 54 Jermyn Street, London, SW1Y 6WL, United Kingdom Standard Chartered Tel: Grindlays +44(0)20 7016 Offshore 8300Financial Services Standard Chartered Grindlays (Offshore) Ltd Dubai International PO Box Banking, 80 13-15 Standard Castle Street, Chartered PO Box 999, P7th Floor, Al Mankhool Building, Al Mankhool Street, Bur Dubai St Helier, Jersey JE4 8PT, Channel Islands Tel: +9714 5070953 Tel: +44 (0)1534 704000 Fax: +44 (0)1534 704600 Hong Kong International Banking, Standard Chartered 20th Floor, Henley Building, 5 Queen s Road, Central, Hong Kong Tel: +852 2820 3893 Singapore International Banking, Standard Chartered 6 Battery Road, 3rd Floor, Priority Banking Centre, Singapore 049909 Tel: +65 6530 3238 www.standardchartered.com/je.. In all of the above locations, Standard Chartered operates through branches of Standard Chartered Bank, except in Jersey where it operates through its subsidiary Standard Chartered (Jersey) Limited, and in Hong Kong where it operates through its subsidiary Standard Chartered Bank (Hong Kong) Ltd. Standard Chartered is the registered trading name for the offshore banking businesses of: Standard Chartered Bank in London and Standard Chartered (Jersey) Limited in Jersey Standard Chartered (Jersey) Limited is incorporated in Jersey and has paid up capital and reserves in excess of 177 million as at 31st December 2003. It is regulated by the Jersey Financial Services Commission to conduct banking and investment business under the Banking Business (Jersey) Law 1991 and the Financial Services (Jersey) Law 1998. Copies of the latest audited accounts are available from the registered office and principal place of business: PO Box 80,15 Castle Street, St Helier, Jersey JE4 8PT. This brochure does not constitute an offer, solicitation or invitation to transact business in any country where the marketing or sale of such an offer would not be permitted under local laws. We suggest that you seek independent legal or professional advice if you have any doubt as to the suitability of our products or are resident or domiciled in any country where fiscal or exchange control regulations may apply. Standard Chartered Bank may record information about individuals in order to follow up their interest in our financial services. The information will be held on a strictly private and confidential basis. Jersey is not part of the United Kingdom and all business transacted with Standard Chartered (Jersey) Limited and other Standard Chartered Group offices outside the United Kingdom, is not subject to some or any of the investor protection and compensation schemes available under United Kingdom Law. Standard Chartered Bank is incorporated in England with limited liability by Royal Charter 1853, under Reference Number ZC18. The principal office of the Company is situated at. 1, Aldermanbury Square, London EC2V 7SB and it is authorised and regulated by the Financial Services Authority.. 10/2004