In a major push for paperless banking services, Standard Chartered Bank, India's largest international bank, is launching a unique rewards program for savings account customers who avail of electronic banking channels. The drive is intended to encourage e-banking, which is both more convenient and also supportive of the environment.

The offering, a first-of-its kind across the banking industry, rewards customers for performing a host of e-transactions on their Savings Account. It is a key initiative to boost the usage of online payments, ATMs, electronic clearing service (ECS) and the Standing Instructions facility.

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 back 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 = 1 INR) into the customer’s bank account.

CDK Sai Narain, Head Consumer Transaction Banking, Standard Chartered Bank said, “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.”

The rewards programme will be offered to aXcessPlus and SmartPay customers. The cash-back amount will be credited into customers’ bank account on request (through Phonebanking or email).

The program will begin from January 1, 2008.

Sourced from: Standard Chartered Bank