Standard Chartered reintroduces Priority Banking proposition

Monday, 29 August 2016 00:01 -     - {{hitsCtrl.values.hits}}


Standard Chartered has reintroduced its Priority Banking proposition with some very attractive features included in this its fastest growing segment. 

In the coming months, the bank will bring a range of offers and deals and some unique experiences to its Priority Banking clients. The bank’s approach is centred on developing a deep understanding of client needs, behaviours and preferences and delivering consistently superior solutions to cater to these specifically. 

To be eligible for Priority Banking status the client must have a banking relationship of Rs. 5 million or equivalent in another currency in a savings or fixed deposit account or must draw a nett monthly salary of Rs. 400,000 minimum. 

Standard Chartered Retail Banking Head Sanjay Wijemanne, commenting on the Priority Banking proposition, said: “We have seen a growth momentum in the past three years and we are encouraged by this response from our clients. We have exciting plans ahead, which I am confident will not disappoint our clients. With the best rewards program currently in the market – the 360◦ degrees rewards program, coupled with the Visa Infinite card and its unique global benefits and eligibility for Hilton HHonours Gold status, and the Harrods Black Card, our teams of experienced Relationship Managers and Service Support are poised to actualise and address our clients’ banking requirements.”

The ease and flexibility of a Standard Chartered Priority Banking Account offers a complete solution, and shares some characteristics of wealth management services, whilst offering a greater breadth and depth of personalised service. Standard Chartered’s Priority Banking clients also enjoy preferential foreign exchange rates and rewards schemes as well as fees waived for particular transactions such as overseas ATM withdrawals and international fund transfers, subject to regulatory requirements.

The proposition enhances entrée to a gamut of services for Priority Banking clients across the world, including access to over 200 priority centres and the ability to withdraw money from Standard Chartered ATMs anywhere within its footprint without charges. 

The Visa Infinite credit card offers access to round the clock international concierge services, international offers, global client assistance, 1.9 million ATM locations worldwide and 700 airport VIP lounges across the world. 

Another extremely attractive aspect of Standard Chartered’s Priority Banking proposition and one offered exclusively to the Bank’s Priority clients is the facility to mortgage an existing property and borrow up to 70% of the market value up to Rs. 75 million. The money can be used by the Priority Banking client for any purpose, be it the purchase of another property, the purchase of a vehicle, or to start a business. The loan is offered on a very low rate of 12.75% fixed for five years. The bank has signed on high-end development projects such as Shangri-La for the further convenience of its Priority Banking clients.