Terms & Conditions - Client Referral Programme

  1. The Programme (“Programme”) is open to existing OCBC Premier Banking clients (individually “Eligible Client” and collectively “Eligible Clients”). The Programme will commence on 01 June 2017 and end on 31 December 2017, both dates inclusive (“Promotional Period”) while stocks last.
  2. Referrals are considered successful when the new OCBC Premier Banking client (“Referred Client”) referred by the Eligible Client successfully opens a new account with S$200,000 (or their equivalent in a foreign currency) in Fresh Funds for any of the following products: Singapore Dollar Current and Savings account, Singapore Dollar time deposit, Foreign Currency time deposit, unit trust, structured deposits, regular premium insurance and single premium insurance offered by OCBC Bank and subject to OCBC Bank’s assessment of product suitability for the Referred Client.
  3. Referred Clients must open their new account as the primary account holder with such account to be funded with a minimum of S$200,000 in Fresh Funds (or their equivalent in a foreign currency) by end of second month of successfully establishing the Premier Banking relationship. Referred Clients are required to maintain the minimum balance of S$200,000 (or their equivalent in a foreign currency) in the relevant account for at least six months from account opening to be recognised as a successful referral for the purposes of the Programme. The Premier VOYAGE card will be delivered and the cash credit will be credited to the Eligible Client within ten weeks from the date of card issued to the Eligible Client, into the Eligible Client’s card. If the Referred Client fails to maintain the minimum balance of S$200,000 for 6 months, OCBC Bank reserves the right to debit the value of the cash credit rewarded from any account of the Eligible Client or failing which, to request the Eligible Client to repay to OCBC Bank the value of the cash credit rewarded.
  4. For the avoidance of doubt,
    (i) existing OCBC clients (who are not OCBC Premier Banking clients) who deposit a minimum of S$200,000 (or their equivalent in a foreign currency) in Fresh Funds will be upgraded to become Premier Banking client and will be considered Referred Clients under the Programme.
    (ii) existing OCBC Premier Banking client who opens new OCBC Premier Banking account (be it in his or her sole name or jointly with another person) with Fresh Funds of S$200,000 (or their equivalent in a foreign currency) will not be considered Referred Client under the Programme (for the avoidance of doubt, Referred Client must not be an existing OCBC Premier Banking client holding account either in his or her sole name or jointly with another person, either as a primary or secondary account holder).
  5. “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.
  6. An Eligible Client will be rewarded with S$200 worth of cash credit credited into their Premier VOYAGE card for each successful referral under the Programme. In the event the Eligible Client does not have a Premier VOYAGE card, the Eligible Client must make the necessary Premier VOYAGE card application (annual fees applies) in order to receive the cash credit. In the event the Eligible Client is a Supplementary Cardholder, the cash credit will be credited to the Principle Cardholder. All Premier VOYAGE card applications are subject to OCBC Bank’s approval.
  7. In the event that the Premier VOYAGE Card application is not approved, or if the Eligible Client opts to receive vouchers in lieu of cash credit, Robinsons vouchers will be rewarded to the Eligible Clients and a redemption letter will be sent out within two months from the date of successful onboarding of customer. All redemption letters will be valid for 1 month from the date of issuance and only original reward redemption letters will be accepted by the merchant. OCBC for the redemption of vouchers. Bank reserves the right to substitute the reward with another item of similar value at any time without prior notice.
  8. (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.
    (b) The Referred Client consents to having his or her name and status of successful signing up under the Programme disclosed to the Eligible Client.
  9. Referred Clients are eligible to participate in the Programme and make referrals only after their accounts have been successfully opened.
  10. Existing/Previous Premier Banking clients who have closed their OCBC Premier Banking single / joint accounts within the last 12 months will not qualify as a Referred Client for the Programme.
  11. 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 account opened by the Referred Client.
  12. If a Referred Client is referred by more than one Eligible Client, the Eligible Client from whom OCBC Bank receives the Client Referral Form first will be entitled to the reward.
  13. 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.
  14. This Programme is not valid with any other promotions or offers held or conducted by OCBC Bank.
  15. 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.
  16. Employees of OCBC Bank are not eligible to participate in this Programme.
  17. 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.
  18. 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.
  19. 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.
  20. 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.
  21. 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.
  22. 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.