In these terms and conditions:
“Bank” or “DBS” means DBS Group Holdings Ltd and its subsidiaries.
“Existing Customers” means existing “Wealth Management Customer” as at the date of referral and excludes:
- employees of DBS and its affiliates and their immediate families;
- the advertising agencies engaged by DBS and its affiliates; or
- any other parties which are directly involved in organizing, promoting and/or conducting the Programme;
“Non-Qualifying Referral” means any person who is:
- an existing DBS Private Bank or , DBS Treasures Private Client customer at the date of the referral or at any time in the 12 months preceding the date of the referral;
- an employee of DBS; or
- a Business Introducer under the Business Introducer Program.
“Qualifying Assets” mean new funds or other assets transferred from outside of DBS and excludes any funds or other assets transferred from any DBS/POSB account or arising from the liquidation of any investment held with or through DBS/POSB; and
“Wealth Management Customer” means a customer of DBS Treasures, DBS Treasures Private Client or DBS Private Bank.
Only Existing Customers are eligible to participate in the Programme.
The Programme is valid from 1 January 2023 to 31 December 2023 (the “Promotional Period”)
|4. || |
An Existing Customer (each, a “Referrer”) will receive a reward (the “Reward”) in accordance with the rewards table (the “Rewards Table”) set out in the Schedule if:
- the Referrer refers a prospective customer (not being himself/herself or a Non-Qualifying Referral) (each such prospective customer, a “Referred Person”) to DBS by completing and submitting the online referral form, and DBS receives such submission during the Promotional Period;
- the Referred Person qualifies as a DBS Private Bank / DBS Treasures Private Client customer (as determined by DBS in its absolute discretion);
- the Referred Person successfully opens and establishes a new account (i.e. new Household set up and not being a joint account with the Referrer as a joint account holder or under the same household as the Referrer) (the “First Account”) with Qualifying Assets under management (“AUM”) within 6 months from the date of referral;
- the assets under management (“AUM”) in the First Account at the end of the sixth calendar month from the date the First Account was established is not less than SGD1,500,000 (for Treasures Private Client) / SGD5,000,000 (for Private bank) AUM amount of Cash and/or Assets (not less than 5 securities) for new-to-bank customers;
- the assets under management (“AUM”) in the First Account at the end of the sixth calendar month from the date the First Account was established is not less than SGD1,500,000 (for Treasures Private Client) / SGD5,000,000 (for Private bank) AUM amount of Cash and/or Assets (not less than 5 securities) with a minimum fresh AUM amount of SGD1,000,000 (for Treasures Private Client) / SGD2,000,000 (for Private bank) of Cash and/or Assets (not less than 5 securities) for new to segment customers; and the AUM is maintained in the First Account with DBS for at least three (3) months after the date on which such Qualifying Assets was deposited and/ or transferred from outside of DBS
|Segment that the Referred Person signs up for ||Reward Amount |
|DBS Private Bank ||S$3,000 cash credit |
|DBS Treasures Private Client ||S$1,000 cash credit |
|5. || |
For avoidance of doubt, "New-to-bank customer" refers to an individual who opens at least one current/cheque account(s) and/or savings account(s) ("Deposits Relationship") as the primary holder, with the Bank during the Promotional Period and does not have a DBS banking account in the last 12 months at the time of referral. “New to segment customer” refers to an individual who is new to DBS Private Bank/ DBS Treasures Private Client and does not have a DBS Private Bank/ DBS Treasures Private Client relationship in the last 12 months at the time of referral.
|6. || |
If more than one Referrer successfully refers the same Referred Person to DBS within the Promotional Period, only the first Referrer that submitted the name of the Referred Person to DBS through their relationship manager, a DBS front line staff, via referral form, online or via email will be entitled to the Reward.
|7. || |
There is no limit to the number of referrals that can be made by the Referrer..
|8. || |
A Referrer who qualifies for the Reward will receive the cash credit in their designated Wealth Management Account (Multi-Currency Settlement Account) after 2 months from fulfilling all the requirements set out in clause 4 of these terms and conditions.
|9. || |
DBS’ decision on all matters relating to the Programme will be final and binding on all parties. DBS may discontinue the Programme or vary these terms and conditions without prior notice or liability to any party. In the event of any inconsistency between these terms and conditions and any brochures, marketing or promotional materials relating to the Programme, these terms and conditions will prevail.
|10. ||DBS may at any time substitute the Reward with any other reward of similar value. |
|11. ||DBS shall not be liable for any injury, loss or damage whatsoever, whether direct or indirect, arising from or in connection with the Reward and the Programme. |
|12. || |
- undertakes to comply with the provisions of the Personal Data Protection Act (Cap 26 of 2012), including all relevant subsidiary legislations and regulations (the “Act”);
- warrants that he/she has obtained consent under the Act from the Referred Person for and consent on behalf of the Referred Person to the collection, processing, use and disclosure of the Referred Person’s personal data by/to DBS and such other third party for the purpose of the Programme and/or the opening of the First Account and/or any other purposes related thereto;
- warrants that, to the best of his/her knowledge, the Referred Person’s personal data collected is reasonably accurate and complete;
- consents to DBS disclosing the Referrer’s name to the Referred Person for the purposes of the Programme and/or the opening of the First Account and/or any other purposes related thereto;
- agrees to hold DBS and its directors, officers and employees (each an “Indemnified Party”) harmless and keep each Indemnified Party fully and effectively indemnified from and against any losses, costs, claims, damage and expenses whatsoever which any of them may incur (directly or indirectly) as a result of any breach by the Referrer of any of its representations, warranties, undertakings or obligations hereunder.
|13. || |
These terms and conditions are governed by Singapore law and parties agree to submit to the exclusive jurisdiction of the Singapore courts.