Premier Membership Criteria
To qualify as a FDB Premier Member, customer must maintain at all times
- a minimum deposit of MMK 300 million with the Bank as decided by the Bank from time to time for a tenure of at least 3 months in Fixed Deposit account with a designated interest rate or
- EOM closing balance of MMK 300 million every month in Savings or Call account.
The Bank reserves the right to change the definition of the minimum deposit from time to time.
Membership Segment
- The Bank may add customer segment and amend membership criteria from time to time without prior notice.
- The Bank may, depending on the customer segment that the Customer qualifies, redesignate the Customer from one customer segment to another in its sole discretion.
Sustaining the Membership
- Individuals can apply for FDB Premier Banking Membership.
- The specimen signatures and signing authority of the Customer or its authorized signatories communicated to the Bank in writing shall remain in effect until such time as the Bank receives written cancellation of the same from the Customer. The Bank shall be entitled but not bound to undertake further verification of the signatures other than by comparing them with the specimen signatures on record with the Bank.
- Joint accounts eligible for Premier Banking are only entitled to one Premier Membership by Primary Account Holder and shall enjoy the benefits of FDB Premier Banking individually.
- Joint account holders shall enjoy double benefits if the minimum deposit meet the criteria of the highest Premier Membership tier as described in the FDB Premier Banking brochure and website.
Premier Membership Card
- Premier member will receive a FDB Premier Membership Card in their names which ensures membership access and secures the rights and entitlements of members to the benefits and services offered by the Bank at Premier Banking as described in the FDB Premier Banking brochure and website, subject to any changes which shall be notified to Members from time to time.
- The card shall always remain the property of the Bank.
- To receive a benefit, the card must be presented to the merchants and merchants may ask for an ID to verify the membership.
- The expiry of the FDB Premier Membership Card is 2 years from the date of issuance and the member can no longer enjoy benefits with the expired card after its expiry.
- Premier member who still meets the Premier Membership Criteria shall receive a new FDB Premier Membership Card after the expiry of the previous card. The member who no longer meets the criteria shall not receive a new FDB Premier Membership Card and shall no longer be entitled to the benefits and services offered by the Bank at Premier Banking.
- The card is not transferrable and member shall safeguard the membership card from misuse by retaining it under their personal control and shall only use it for the purpose which is permitted under the terms and conditions herein contained.
- In case of misplacement, stolen and loss of the Premier Membership Card, the member shall notify the Bank immediately via phone and email. The Bank may reissue a new FDB Premier Membership Card in replacement of the lost, stolen or misplaced card and reserves the right to impose any charges.
- Primary Account Holder of Joint Accounts shall receive one FDB Premier Membership Card to enjoy the benefits and services offered by Premier Banking.
Premier VIP Debit Card
- Premier member will also receive a FDB Premier VIP Debit Card.
- FDB Premier VIP Debit Card does not secure any rights or entitlements of members to the benefits offered under FDB Premier Banking.
- In case of misplacement, stolen and loss of the Premier VIP Debit Card, the member shall notify the Bank immediately via phone and email. The Bank may reissue a new Premier VIP Debit Card in replacement of the lost, stolen or misplaced card and reserves the right to impose any charges.
Premier Banking Privileges
- Premier Member shall maintain the minimum required balance that is in deposit of MMK 300 million for individual accounts to be eligible for the privileges
- In case of deposit withdrawal, member shall ensure that the withdrawn amount from the account is topped up within 3 months to meet the required minimum balance to continue as an eligible Premier Member.
- If the member fails to top up within 3 months, the Bank shall not take back the FDB Premier Membership Card. However, there will be charges on some of the benefits used up after the membership criteria is no longer met. The charges shall be withdrawn from the respective account of the individual.
- The Bank reserves the right to change, suspend, withdraw, or cancel any or all the privileges under Premier Banking Membership and these terms and conditions with prior notice.
- The enhanced banking services enjoyed by Premier members are made available to customers who meet and maintain at all times the Membership Criteria for FDB Premier Banking, as may be revised from time to time by FDB Bank.
- The Bank continuously updates financial products and services, and other lifestyle services in order to better meet the customers’ needs. Hence, the Bank may vary the frequency and manner of use of such services, the type of accounts which are eligible and the Premier centers where such services are dedicated to FDB Premier Banking customers. The Bank may add or remove any third-party providing privileges to the FDB Premier Banking Customer. The Bank will use all reasonable endeavors to give thirty (30) days' notice of any such variation.
Fees and Charges
- The Bank may impose and vary service charges, fees or levies for any of the services provided by the Bank.
- The Bank reserves the right to impose a service charge should the customer no longer meet the membership criteria in respect of any of the Customer’s Account(s) as specified by the Bank.
Instructions
- In the event that instructions to the Bank given by the member are received after banking hours, the Bank will only execute such instructions on the next working day. Banking hours are the hours that the Bank specifies from time to time for the daily operations and processing of instructions.
- The Bank shall not be liable to the customer for acting upon any instructions that is communicated to the Bank via telephone or in writing which is signed and sent by post, fax or email, notwithstanding that such instruction may arise due to fraud. Customers will need to bear the risks of any error or loss resulting from instructions given by their authorized person or any delay resulting from the use of the post, fax or email. The bank shall not be liable for such delay in acting on the instructions or losses incurred.
- The Bank shall perform call back to the Customer’s registered telephone number to confirm any instructions received by the Bank. In the event that the Bank is unable to perform the call back successfully, the Bank may decide not to act on the instructions received
