• No results found

1.1 In these terms and conditions, unless the context otherwise requires:

N/A
N/A
Protected

Academic year: 2021

Share "1.1 In these terms and conditions, unless the context otherwise requires:"

Copied!
5
0
0

Loading.... (view fulltext now)

Full text

(1)

SBI Sweet Rewards Terms and Conditions 1. Interpretation

1.1 In these terms and conditions, unless the context otherwise requires:

“Account Holder” means the Bank’s Singapore Dollar retail savings and/or current account holders with access to the Bank’s internet banking facility.

“Bank” means the State Bank of India, Singapore

Branch and where the context so requires includes its servants and agents.

“CASA” means the Bank’s SGD current and

savings account.

“Customers Account Level” means the individual account or single account of the retail customer.

For example, an Account Holder may have multiple accounts, such as Time deposits, CASA in SGD / USD under a single identification number (CIF or Customer Identification File) but for the purpose of the Program, Points are accumulated and redeemed at an individual account level only in respect of the SGD transaction.

“INB” means the Bank’s Internet Banking facility.

“INB Bill Payment” means payment of bills to any of the Bank’s empanelled billers through the INB. “INB Remittances” means funds transfer or remittances in Indian Rupee (“INR”) to India done through the INB.

“Participant” means an Account Holder who has

(2)

“Points” means points awarded under this Program in accordance with Clause 3 herein.

“POS transactions” means Point of Sale transactions done at any participating merchant establishment using the Bank’s debit card(s).

“Program”

means the Bank’s Sweet Rewards Program as defined herein.

“Redemption” means that the cash value of the Points which are accumulated pursuant to the formula as described in Clause 3.2 will be credited into the mandated current or savings account of the Participant with the Bank.

2. Eligibility

2.1 All Account Holders are eligible to participate in the Program by voluntarily opting into the Program via the INB.

2.2 An Account Holder who through his/her INB account has successfully opted into the Program and is accepted as a Participant will be deemed to have accepted the terms and conditions of the Program as contained herein.

2.3 Under the Program, Points will be awarded only in respect of the following transaction types

1. INB Bill Payments; 2. POS Transactions; and 3. INB Remittances.

2.4 The validity or eligibility of any accounts opened by the Bank for the Program shall be determined by the Bank in its sole discretion.

(3)

2.6 If the Participant voluntarily terminates his / her account or his / her account is involuntarily terminated by the Bank, at any time for any reason, the Participant will be disqualified from participating in the Program. Any unredeemed Points shall be automatically cancelled and rendered void. These unredeemed Points shall not be transferable to any other account of the said Participant or to another Account Holder. 2.7 Notwithstanding any matters stated herein, the Bank shall have the absolute discretion

to determine which of the Bank’s retail accounts’ holders shall be eligible to participate in the Program. The Bank shall be entitled to disqualify any retail account and/or Account Holder from participating in the Program at any time for any reason.

3. Issuance of Points

3.1 Points will be awarded 7 calendar days after the successful transaction date.

3.1.1 In the case of INB Bill Payments - Bill Amount is transferred through the INB to the biller organization empanelled with the Bank.

3.1.2 In the case of INB Remittances - An amount is transferred through the INB from the Participant’s account to a receiver account.

3.1.3 In the case of POS Transaction - A transaction at the end of which the Participant receives the debit advice from the participating merchant establishment.

3.2 Points will be awarded in accordance with the following table:

S. No. Transaction Type Criterion Points awarded

1 INB Bill Payment Every successful transaction subject to maximum of 5 transactions in a month

2 Points per transaction 2 POS Transaction Every successful transaction greater

than S$50.00

5 Points per transaction 3 INB Remittances No minimum or maximum amount

criteria

10 Points per transaction 3.3 The Redemption Value of Points awarded to the Participant will be reflected in the

(4)

3.4 Where any transaction is reversed, cancelled or modified, (whether in whole or in part), and where Points have been awarded or redeemed in respect thereof the Bank reserves the right to accordingly reverse, cancel or make such modifications to the Points awarded or redeemed, or debit its equivalent cash value from the Participant’s account, whichever is applicable.

4. Redemption

4.1 Redemption of the accumulated Points for eligible transactions will be automatically done by the Bank on the last working day of the same month.

4.2 Points under the Program are awarded and redeemed at the Customer Account Level.

4.3 Redemption is in accordance with the following table:

Points Tier Redemption Value

First 50 Points $ 0.10 for every point Next 100 Points $ 0.20 for every point Above 150 Points $ 0.50 for every point

For example, if a Participant is awarded 160 Points, he or she will earn $30.00 in Redemption value as follows:

First 50 Points - $0.10 x 50 = $5.00 Next 100 Points - $0.20 x 100 = $20.00 Above 150 Points - $0.50 x 10 = $5.00 Total Redemption value $30.00.

(5)

5. General Conditions

5.1 Fraud and/or abuse relating to the award of Points or redemption may result in the forfeiture of accrued Points as well as the cancellation of the Participant’s account. 5.2 Without prejudice to any of the Bank's rights and remedies, the Bank is entitled, at any

time, in its discretion and without giving any reason or notice, to terminate the Program or withdraw, cancel or invalidate any Points awarded and/or monies already redeemed into the Participant’s account.

5.3 The Bank is not liable if it is unable to perform its obligations under these terms and conditions, and / or in the event that any INB Bill Payment, INB Remittance or POS transaction is not effected, due directly or indirectly to the failure of any machine or communication system, industrial dispute, war, Act of God, or anything outside the reasonable control of the Bank or its servants or agents. The Bank shall not be responsible for any delay in the transmission to the Bank of evidence of retail purchases by the participating merchants or any other third party.

References

Related documents

In any investigation undertaken by the department, each licensee, associate, registrant, applicant, agency or employee, on request of the department, shall provide records and

The assumption that any of the other players is worst leads to a contradiction: If the woman is the worst player, her brother must be her twin and her daughter must be the

In view of the 2014 World Cup to be held in Brazil and the country's problems around the theme of public transport , this research analyzes , based on the guidelines advocated by

The hope in examining the economic variables was to determine a profile of the economic state of cities and nations that submitted bids to host the Olympic Games.. Our

(e) (1) A taxpayer may appeal from any final assessment entered hereunder by the City by filing a notice of appeal, within 30 days from the date of entry of the final assessment,

“core connected person(s)” has the meaning ascribed to it under the [REDACTED] “Deed of Indemnity” the deed of indemnity dated [REDACTED] and executed by our Controlling

This Chapter shall be known and may be cited as the Animal Services Code. As used in this Chapter, unless the context otherwise requires, the terms specified in Subsections

A person applying for a license as an investment adviser representative in Colorado pursuant to section 11-51-403, C.R.S., shall make application for such license and any amendments