Business Growth Account

Terms and Conditions governing the New-to-Bank Business Banking Customer Welcome Bundle (the “Promotion”)

Promotion Period
1. The promotion period shall run from 1 April 2023 to 30 June 2023 (both dates inclusive), or such dates as may be determined by Oversea-Chinese Banking Corporation Limited (the “Bank”) at its sole and absolute discretion (the “Promotion Period”).

Eligibility Criteria
2. To qualify for and participate in this Promotion, you must meet all the criteria as set out below (“Eligible Customers”):

1. You must be registered and incorporated in Singapore with a valid UEN issued by ACRA and are of one of the following business entity types: Sole Proprietorships, Partnerships, Limited Partnerships, Limited Liability Partnerships or Companies, or Private Limited Companies;
2. You must be a new customer of the Bank within the Promotion Period. In other words, you must not have any existing current account(s) with the Bank or closed any current account(s) in the past 12 months prior to the date of your application for an Eligible Account (as defined below); and
3. You must successfully apply to the Bank for and open one (1) or more of the following eligible current account(s) (each an “Eligible Account”) within the Promotion Period:
   1. OCBC Business Growth Account;
   2. OCBC Business Entrepreneur Account Plus;
   3. OCBC Multi-Currency Business Account.

Promotion Benefits
3. The Promotion refers to the package of fee discounts, waivers and cash rebates (“Benefits”) listed in Annex 1 that Eligible Customers are entitled to.
4. The Promotion is valid for each Eligible Customer for a duration of 3 months, with the month after the date of account opening being the first month and ending on the last calendar day of the third calendar month (“Benefit Period”).
5.The Promotion does not include any product or services offered by the Bank not listed in Annex 1.
6. The Bank reserves the right in its sole and absolute discretion to determine whether an Eligible Customer qualifies for this Promotion. If the Bank in its sole and absolute discretion decides that any Eligible Customer does not fulfil the Eligibility Criteria as defined in Clause 2 above, the Benefits will not be accorded to that particular Eligible Customer,
7. If any Eligible Customer is subsequently discovered to be in breach of any of these terms and conditions, or ineligible to participate in the Promotion or to enjoy the Promotion (which eligibility shall be determined at the sole and absolute discretion of the Bank), the Bank reserves the right to (i) forfeit or withdraw the Promotion Benefits at any time; or (ii) (where the Promotion Benefits have been accorded) claw-back any cash rebate credited or request the Eligible Customer to repay to or compensate the Bank the value of the Promotion Benefits at any time.
8. The Bank reserves the right to claw-back and deduct from any Eligible Account(s) the equivalent value of Benefits given to the Eligible Customer if the Eligible Customer closes his/her Eligible Account(s) within six (6) months from the date of account opening.
9. OCBC Bank reserves the right to substitute or replace the Promotion Benefits with any item of similar value at its sole discretion without any prior notice.

General
10. By participating in the Promotion, the participant shall be deemed to have read, understood and accepted these terms and conditions.
11. The Bank reserves the right to, at its sole and absolute discretion and at any time without prior notice, modify, revise, delete or add to any of these terms and conditions, or extend, suspend or discontinue the Promotion, including without limitation, the Promotion Period and Eligibility Criteria.
12. The Bank’s decisions on all matters relating to the Promotion shall be final and binding on all participants of the Promotion. No correspondence or appeal shall be entertained by the Bank.
13. All prevailing terms and conditions for Account and Banking services, including but not limited to electronics services, remittance and payment services shall continue to apply.
14. In the event of any inconsistency between these terms and conditions and any brochure, marketing or promotional material relating to the Promotion, these terms and conditions shall prevail.
15. The Bank shall not be responsible for any loss or damage to any person or business in connection with the Promotion howsoever arising, including any error in computing chances, any breakdown or malfunction in any computer system or equipment, or any notice which is misdirected or lost in the post or in transmission.
16. These terms and conditions shall be governed by the laws of Singapore and each participant in the Promotion irrevocably submits to the non-exclusive jurisdiction of the courts of Singapore. A person who is not a party to any agreement governed by these terms and conditions shall have no right under the Contracts (Rights of Third Parties) Act (Cap 53B) to enforce any of these terms and conditions.

Data Protection and Consent
17. By participating in the Promotion, the Eligible Customer acknowledges and agrees that OCBC Bank, may collect, use, disclose and/or process data (which may include without limitation, personal data) relating to the Eligible Customer, such as, without limitation, the details and business contact information of the Eligible Customer and/or the Eligible Customer’s representative(s) (collectively, “Customer Data”). Such Customer Data may be collected, used, disclosed and/or processed for:

1. the purpose of determining the eligibility of the Eligible Customer to participate in the Promotion;
2. the purpose of managing, administrating and conducting the Promotion;
3. the fulfilment and delivery of the Promotion Benefits to the Eligible Customer, where applicable; and
4. such other purposes as may be set out in OCBC Bank’s respective data protection policies and/or privacy policies, (collectively, the “Purposes”).

1. such Customer Data is accurate, complete and true; and
2. where Customer Data relates to an individual (for example, the Eligible Customer’s representative(s)), the Eligible Customer has the valid authority and consent from such individuals to act on their behalf and provide such Customer Data to OCBC Bank to collect, use, disclose and process for the Purposes.

Additional Terms and Conditions Governing Overseas Telegraphic Transfer Benefit

1. The Promotional TT Rate will only apply for charge codes “OUR” and “SHA”.
2. The Promotional TT Rate excludes any additional agent banks charges (when customers select “OUR” charge type) where applicable.
3. Eligible Customers will be able to enjoy the Promotional TT Rate from the 15^th of the subsequent month after their business account has been opened (or from such earlier date as OCBC may apply such Promotional TT Rate to the relevant Eligible Customers).
4. In the event that any Eligible Customers perform any TT before the 15^th of the subsequent month from the date of the opening of their Eligible Account, OCBC Bank will credit the difference and offer it as a one-time cash rebate (“Cash Rebate”) to be credited to the Eligible Customers.
5. Any Cash Rebate will be credited to the relevant Eligible Customer’s Eligible Account within 90 days of opening such account, or at such other timing as may be determined by OCBC Bank in its sole and absolute discretion. The Cash Rebate will be credited directly into the relevant Eligible Account (if the Eligible Customer only has one (1) OCBC Account) or, where there is more than one (1) Eligible Account, any of such Eligible Accounts, or by such other method as may be determined by OCBC Bank in its sole and absolute discretion. Where any currency conversion is involved in the calculation of the Cash Rebate, any such conversion will be at a rate determined by OCBC in its sole and absolute discretion.

Terms and Conditions Governing OCBC OneCollect Benefit

1. Standard transaction charges of 0.25% shall apply from the fourth calendar month from account opening.
2. FAST charges apply for refunds made from the OCBC OneCollect app.
3. UnionPay transactions are excluded from the Promotion.

Terms and Conditions Governing OCBC Business Debit Card Benefit

The “Terms & Conditions governing the OCBC Business Debit Card Welcome Promotion” (the “BDC T&Cs”)(which can be found here: ) shall be deemed to be incorporated into these terms and conditions for the purposes of enjoying the Business Debit Card benefit set out in Annex 1. In the event that any of the terms in the BDC T&Cs conflict with the Terms and Conditions of this Promotion, the Terms and Conditions of this Promotion shall prevail.

Annex 1: Table of Benefits offered to Eligible Customers