Terms and Conditions of OCBC Premier Banking Client Referral Programme (August to October 2021)

  1. The Programme ("Programme") is open to existing OCBC Premier Banking clients (individually "Eligible Client" and collectively "Eligible Clients"). The Programme will commence on 16 August 2021 and ends on 31 October 2021, both dates inclusive ("Promotional Period") while stocks last.
  2. Employees of OCBC Bank are not eligible to participate in this Programme.
  3. Referrals are considered successful when the new client ("Referred Client") referred by the Eligible Client:
    (a) opens a new account as the primary account holder and signs up as an OCBC Premier Banking client or as an accredited investor in the OCBC Premier Private Client segment (each a "New Relationship");
    (b) funds their new account with a minimum of S$350,000 or S$1,000,000 (or their equivalent) respectively in Fresh Funds for any of the following products: Singapore Dollar time deposit, Foreign Currency time deposit, unit trust, structured deposits, regular premium insurance and single premium insurance offered by OCBC Bank (subject to OCBC Bank’s assessment of product suitability for the Referred Client) by the end of the second (2nd) month of establishing the New Relationship; and
    (c) maintains the minimum balance of S$350,000 or S$1,000,000 respectively in the relevant account for a minimum period of three (3) months (the "Minimum Maintenance Period") thereafter.
  4. "Fresh Funds" refers to funds in the form of non-OCBC cheques/cashier’s orders/demand drafts as well as all other funds that are not transferred from any OCBC accounts.
  5. For the avoidance of doubt:
    (a) existing OCBC clients (who are not OCBC Premier Banking clients) who deposit a minimum of S$350,000 or S$1,000,000 respectively (or their equivalent in a foreign currency) in Fresh Funds will be upgraded to the Premier Banking client or OCBC Premier Private Client segment respectively and will be considered Referred Clients under the Programme;
    (b) existing OCBC Premier Banking clients or OCBC Premier Private Clients who open new OCBC Premier Banking or OCBC Premier Private Client accounts (be it in his or her sole name or jointly with another person) with Fresh Funds of S$350,000 or S$1,000,000 respectively (or their equivalent in a foreign currency) will not be considered Referred Clients under the Programme.
  6. Existing/former Premier Banking clients or OCBC Premier Private Clients who have closed their OCBC Premier Banking or OCBC Premier Private Clients single / joint accounts within the last 12 months will not qualify as a Referred Client for the Programme.
  7. Eligible Clients are not allowed to refer themselves for this Programme. To be eligible for the reward under the Programme, an Eligible Client must not be the joint account holder of the new OCBC Premier Banking or new OCBC Premier Private Client account opened by the Referred Client.
  8. Referred Clients are eligible to participate in the Programme and make referrals only after their accounts have been successfully opened.
  9. If a Referred Client is referred by more than one Eligible Client, only the Eligible Client from whom OCBC Bank receives the Client Referral Form first will be entitled to the reward.
  10. An Eligible Client will be rewarded with S$250 (in respect of referrals of new OCBC Premier Banking clients) or S$1,000 (in respect of referrals of new OCBC Premier Private Clients) worth of cash credit credited into (a) their OCBC Premier Visa Infinite card or OCBC Premier VOYAGE card (as applicable); or (b) their indicated OCBC savings or current account within 6 weeks from the making of each successful referral under the Programme, as illustrated in the following table:
    Referred Client Eligible Client
    (Referrer)
    New Relationship Fresh Funds Amount (SGD$ or equivalent) Cash Credit into (a) OCBC Premier Visa Infinite Card or VOYAGE Card (SGD$); or (b) OCBC savings / current account (SGD$)
    Premier Banking SGD$350,000 SGD$250
    Premier Private Client (AI) SGD$1,000,000 SGD$1,000
  11. An Eligible Client shall only be entitled to receive rewards in respect of a maximum of ten successful referrals per calendar year.
  12. In addition, an Eligible Client who successfully refers, during the Promotional Period, three Referred Clients (regardless of whether the Referred Client is an OCBC Premier Banking client or OCBC Premier Private Client) will be rewarded with an additional S$200 worth of cash credit. Such cash credit shall be credited into the Eligible Client’s (a) OCBC Premier Visa Infinite card or OCBC Premier VOYAGE card (as applicable); or (b) their indicated OCBC savings or current account no later than 31 December 2021, and is additional to the cash credit referred to in clause 10 above.
  13. In the event the Eligible Client does not have a OCBC Premier Visa Infinite card or OCBC Premier VOYAGE card, the Eligible Client must make the necessary OCBC Premier Visa Infinite card or OCBC Premier VOYAGE card application (annual fees apply) to receive the cash credit. The OCBC Premier Visa Infinite card or OCBC Premier VOYAGE card will be delivered and the cash credit will be credited to the Eligible Client within 6 weeks from the date of card issued to the Eligible Client, into the Eligible Client’s card. In the event the Eligible Client is a Supplementary Cardholder, the cash credit will be credited to the Principal Cardholder. All OCBC Premier Visa Infinite card and OCBC Premier VOYAGE card applications are subject to OCBC Bank’s approval.
  14. In the event that the OCBC Premier Visa Infinite card or OCBC Premier VOYAGE card application is not approved, the Eligible Client will receive cash credit of S$250 or S$1,000 into any of such Eligible Client’s OCBC savings or current accounts. OCBC Bank reserves the right to substitute the reward with another item of similar value at any time without prior notice.
  15. By participating in this Programme:
    (a) the Eligible Client consents to having the referrals and his or her name disclosed to the person(s) referred by them to OCBC Bank; and
    (b) the Eligible Client confirms that he has obtained the Referred Client’s consent to having his or her name and status of successful signing up under the Programme disclosed to the Eligible Client.
  16. OCBC Bank reserves the right to make any changes where it deems necessary in its absolute discretion to these Terms and Conditions at any time and without prior notification.
  17. This Programme is not valid with any other promotions or offers held or conducted by OCBC Bank.
  18. OCBC Bank’s decision on all matters relating to the Programme, is final, conclusive and binding on all participants. No appeal or correspondence will be entertained or accepted by OCBC Bank. OCBC Bank shall not be obliged to give any reason or enter into any correspondence with any person on any matter concerning the Programme.
  19. In the event of any inconsistency between these Terms and Conditions and any application form, brochure, marketing or promotional material relating to the Programme, these Terms and Conditions shall prevail.
  20. If OCBC Bank subsequently discovers that a participant is in fact not eligible to participate in the Programme or any of the applicable conditions are not fulfilled, OCBC Bank may at its discretion forfeit the reward (or reclaim it, if already awarded, by debiting any account of the participant). No person shall be entitled to any payment or compensation from OCBC Bank should any reward be forfeited or reclaimed.
  21. OCBC Bank shall not be liable to any person for any loss or damage in connection with the Programme, including without limitation, any error in computing any changes, any breakdown or malfunction in any computer system or equipment. Without prejudice to the generality of the foregoing, OCBC Bank assumes no responsibility for lost, late, misdirected, damaged, incomplete, illegible and/or postage-due mail.
  22. OCBC Bank shall not be responsible for the quality, merchantability or the fitness for any purpose or any other aspect of any gift. Notwithstanding anything herein, OCBC Bank shall not at any time be responsible or held liable for any defect or malfunction in any gift, and/or for any loss, injury, damage or harm suffered or incurred by or in connection with the use of any gift by any person.
  23. These Terms and Conditions shall be governed by the laws of Singapore and the participants in the Programme irrevocably submit to the non-exclusive jurisdiction of the courts of Singapore.
  24. A person who is not a party to any agreement governed by these Terms and Conditions shall not have any right under Contracts (Rights of Third Parties) Art (Cap 53B) to enforce any of these Terms and Conditions.