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Re: Banking News.....
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Re: Banking News..... - December 28th, 2007

StanChart launches rewards plan for e-banking

MUMBAI: Global banking major, Standard Chartered Bank, on Thursday said that it is launching a rewards programme for savings account customers who avail of electronic banking channels, beginning from January 1.

The initiative is intended to encourage e-banking which is both more convenient and also supportive of the environment, the bank said in a press release issued here today.

The offering rewards customers for performing e-transactions on their savings accounts.

"It is a key initiative to boost the usage of online payment, ATMs, electronic clearing service (ECS) and the standing instructions facility," the bank said.

Customers need to only use these channels to be rewarded a point for every single use as per the terms of the proposition, irrespective of the size of their transactions.

Standard Chartered will pass to customers savings made as a result of using electronic channels of payments.

The reward points can be exchanged for a cash-back (1 point=Re 1) into the customer's bank account.

The bank's head, Consumer Transaction Banking, CDK Sai Narain, said that, "this programme is essentially to encourage paperless transactions. Electronic banking is convenient, efficient and very secure. It also supports Standard Chartered Bank's global focus on building a sustainable business by supporting the environment and climate change-related initiatives."


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