Report final.doc

General banking, debit and credit card that gives you a whole lot more

Standard Chartered credit card &debit card comes to us with a winning combination of value-packed features and benefits. Here is said, how to settle your card account, finance charges, card statement.

Credit card &debit card providing different services such as safety net provides the best protection against life’s uncertainties. Safety net is an invaluable insurance benefit. SMS banking services are provided through credit card & debit card also provided call centre benefit, E-Statement. Credit card & debit card benefit such as Easy credit, instant cash advance auto Bill pay, Rewards program, instabuy, safety net, All accidental death insurance, SMS Banking, Supplementary cards, card cheque etc. are described here briefly.

History of the bank and SCB’s function in Bangladesh also has been shown in a brief description. How charge and fees are executed here that also has been show here. Payment recovery may be in terms of Account transfer, standing instruction, cash, cheque etc. These all are the brief description about report.

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Executive Summary


Introduction:The new century is even more prosperous than the past, because of convenient transaction of money. The traditional shape of money is getting lost and it is now developed into different forms that satisfy the same needs executed by money. Now a day one of the very important mode of payment is the credit cards. Since free and open trade is the engine of economic development, everyone is going to be a part of it. We are living in the era of profound changes in transaction process, called the age of interdependence, it is a time of increasing expectation brought about by worldwide distribution, satellite communication, transportation system, ATMs, credit cards, debit card etc.

Bangladesh over the thirty years of its independence has gone through lots of transition and break-through to reach at the position was it is today. Bangladesh being a third world country was always dominated and suppressed by the powerful and economically well off nation. Bangladesh become an independent country in 1971 began its journey to distant dream many years ago. It is perhaps not an ancient land but many ancient peoples have come to Bangladesh and entranced by its magic have made it their home.

The country with authentic natural beauty and enormous natural resources was not able to show the auspicious sign of prosperity because of the barriers that were created both locally and internationally. The country is not advance in terms of technology and has not yet adapted modern and efficient ways of producing goods and services that would minimize cost and maximize profit. But Standard Chartered Bank has been trying to provide the modern approach of providing services to its valuable customers and trying to make this situation better.

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Banking sector in Bangladesh


Commercial Banks:

Banks and other financial institutions have great effect on the economy and monetary management of a country. Bangladesh is no exception to that. The number of banks and financial institutions in Bangladesh has been growing since independence in keeping with the pace of demand and mobility of the economy of the country. At the same time the spectrum and diversified activities of those banks and institutions are expanding too.

The financial system in Bangladesh is relatively small and less developed than in most countries in South and East Asia. Commercial banks are at the heart of this financial sector.

Market Segment:

The banking industry of Bangladesh is mainly divided into two sectors, such as Specialized Banks (SBs) and Commercial Banks (CBs). The Specialized Banks are those banks that deal with specific sectors or industry of an economy. For instance, Bangladesh Krishi Bank (BKB) only deals with the agricultural sector of the economy; Bangladesh Shilpa Bank (BSB) only deals with the industrial sector of the economy, etc.

On the other hand, Commercial Banks are Scheduled Banks that are operating in the country under the rules and regulations of the Central Bank. Commercial banks in turn can be grouped as Nationalized Commercial Banks (NCBs); Foreign Commercial Banks (FCBs) and Private Commercial Banks (PCBs) with three different segments, such as 1st Generation Private Commercial Banks, 2nd Generation Private Commercial Banks, and 3rd Generation Private Commercial Banks.

The Bangladesh Bank (BB) Order created in 1972, authorized Bangladesh Bank (BB) as the central bank of the country. Bangladesh Bank Order 1972 and the Banking / Companies Act 1991 mainly guide the commercial banks in Bangladesh. Commercial Banks in Bangladesh are not allowed to do business other than just banking. Normal activities include borrowing, raising or taking up of money, lending or advancing of money with or without security. They are also authorized to issue letters of credit, trade in precious commodities and buying and selling of foreign goods excluding foreign bank notes. They are also authorized to trade in bills of exchange, promissory notes, coupons, drafts, debentures, certificates and other instruments approved by Bangladesh Bank (BB). Banking companies are required to provide safe vaults and are authorized to collect money and securities.

Regulation of the Banking Industry:

The banking sector plays a crucial role in economic development of any developing country. In Bangladesh the banking sector dominates the financial sector and macroeconomic management largely depends on the performance of the banking sector. The Ministry of Finance, in conjunction with The Bangladesh Bank regulates the banking sector through monetary and fiscal policies. Bangladesh Bank, being the central bank exerts supervisory controls over the banking sector. BB requires that

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banks have a minimum paid up capital and reserve funds and that no person, family or company own more than 10% of bank share personally, jointly or both. Bangladesh Bank may with prior Government approval at any time change the policy regarding the reservation of risk-based capital of assets. BB may determine policy to control advances by banking companies. BB has direct authority to appoint any new Managing Director, General Manager, or CEO and BB can dismiss none so appointed without prior approval. BB also has the power to supersede the Board of Directors of a banking company. BB is also the official liquidator and has the power to give directions to a banking company and also remove directors when it feels that this may be in public interest.

Market Entry and Exit:

Bangladesh Bank (BB), the central bank of Bangladesh, has the authority to determine the entry and exit rules of all the banks operating in Bangladesh. BB performs the traditional central banking roles of note issue and banker to the government and banks. It formulates and implements monetary policies, manages foreign exchange reserves and supervises banks and non-bank financial institutions. Their prudential regulations include: minimum capital requirements, limits on loan concentration and insider borrowing and guidelines for asset classification and income recognition.

Industry’s Competitive Forces:

a) Rivalry among the Competitors :

In the banking industry, rivalry among the competing banks is moderate to high due to the following reasons:

Major rivals are equal or close to in size and capability (revenue and volume).Exit barriers are high.New private banks are snatching share from the NCBs and each other’s customers by providing extra benefits.Slow market growth due to the sluggish economy. Depositor’s cost of switching banks is low.

b) Substitutes:

There are substitute financial institutions that do many of the activities and transactions of a bank in the leasing field but these financial and leasing institutions are too small in size. These institutions can shrink the profit margin of commercial banks. Industrial Leasing and Development Company Ltd. (IDLC), United Leasing Company are the key players. They provide industrial leasing to many companies in the country. Insurance companies are also provide loan and performs other financial activities. But some of the operations of the banks like exporting / importing have no substitutes.

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c) Power of Suppliers:

Depositors are considered to be the suppliers of the banks. There are thousands of depositors from all walks of life. There are businessmen, service holders, farmers, students and people from virtually any other professions who are depositors of the

banks. Big amount depositors have strong powers in determining interest rate of their deposits.

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An overview of Standard Chartered Bank (SCB):

The Standard Chartered Bank is the Worlds’ leading emerging markets banking group that is incorporated in the UK, with its headquarters in London with limited liability by Royal Charter 1853. The group focuses its activities in Asia, Africa and the Middle East and its operation is segmented under six regions: UK & Europe, Middle East and South Asia (MESA), South East Asia, and the Americas.

Globally, the key resources of SCB include:

A network of over 600 offices in 50 countriesA staff of about 30,000 people managing assets of around 47 billion poundsStandard Chartered Bank’s international businesses in Personal Banking, Corporate Banking and Standard Chartered Markets are its special strengthsStandard Chartered Bank also maintains correspondent relationship with over 600 banks in 157 countries around the world

The global strategies of Standard Chartered Bank are:

To build and grow strong businesses in East and South East Asia – the Asia Pacific RegionTo enhance historical position in the Middle East and South Asia regionTo concentrate operations in the OECD in those activities that support Standard Chartered Bank’s remarkable franchise in newly industrialized and emerging markets

Business activities of global Standard Chartered Bank:

Standard Chartered operates in every Asia Pacific market with the exception of North Korea and some 60 percent of the Group’s profits come form the Asia Pacific region.

Hong Kong continues to be the major importance to the Group and contributes 30 percent of the total profit with around 80 branches in Hong Kong and strong representation in China, Standard Chartered – a note issuing bank in Hong Kong – is well placed to continue playing an important part in Greater China’s development. A resident Group Executive Director manages the Group’s business there.

Consumer Banking, Corporate and Institutional Banking are managed out of Singapore each by a Group Executive Director resident in the island state. Other East Asian countries of note for the Group are Malaysia, Taiwan and Thailand where, in 1999, the bank acquired a 75 percent interest and management control in Nakornthon.

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SCB in Bangladesh


Standard Chartered is the leading international bank in Sub-Saharan Africa, operating in several countries, the most prominent being Kenya, Zambia, Zimbabwe and Ghana. The group’s operations in the Gulf and South Asia are managed form Dubai.

Figure: SCB’s Presence in The World

Standard Chartered Bank provides a full range of products and services to its customers all around the world, some of which are mentioned below:

Consumer Banking Personal Banking Global Corporate Banking And Institutional Banking International Trade Management Global Cash Management Global Institutional Banking Global Treasury Global Electronic Banking

History of Grindlays Bank:

Captain Robert Melville Grindlays established Grindlays & Co with a partner in 1828. The name was changed to Grindlays Christian & Mathew’s in 1839, which again changed to Grindlays & Co in 1853.

The first branch opened in India, at Church Lane, Calcutta in 1854 and in 1864 Grindlays & Co opened Indian branches autonomous from London. National Provincial Bank Limited acquired them in 1924. National Bank of India absorbed Grindlays and Co in 1958 and began to operate as National & Grindlays bank Ltd.Two significant acquisitions in the 1960's and 1970's were a controlling Interest in 1965 in merchant banker William Brandt's Sons and Co ltd. Later increased to full ownership, and in 1974 purchased of the Glasgow - based British bank of commerce ltd. The name was simplified back to Grindlays Bank ltd in 1985.

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In the mid -1970's the Bank's future was uncertain as two large shareholders, Citibank and Lloyd's were direct competitors in many parts of the world. This was resolved when ANZ bank purchased Grindlays bank in 1984, making ANZ Australia's first truly international bank. The name changed to ANZ Grindlay's Bank in 1989. Under ANZ, the business has been a strong player, especially in Middle East South Asia (MESA) markets with its well-established branch network placing the bank among the top foreign Banks in several countries.

History of Standard Chartered Bank:

Standard Chartered Bank has a history of about 150 years. The name “Standard Chartered” stems from the two original banks from which it was founded – the “Chartered Bank” of India, Australia and China and the “Standard Bank” of British South Africa.

A Royal Charter granted by Queen Victoria of England established the “Chartered Bank” in 1853. The main person behind the Chartered Bank was a Scot, James Wilson who had also started “The Economist” still one of the most eminent publications today. He foresaw the advantages of financing the growing trade links with the areas in the east, which no other financial institution was doing at that time.

Another Scot, John Paterson in 1862, founded the “Standard Bank”. He immigrated to Cape Province in South Africa and became a successful merchant before founding “The Eastern Province Herald” which is still published today. Coming from a similar background as Wilson, he also saw great trading possibilities between Europe and his adopted country, and together with local business interest he founded the bank.

The two banks expanded and prospered with time and decided to merge in 1969. On January 30, 1970 the new shares of the Standard and Chartered Banking Group Limited were listed in the London Stock Exchange. The original building of the Chartered Bank at 38 Bishop Gate was demolished in June 1980 and Queen Elizabeth II opened new headquarters of the Standard Chartered Bank PLC on the same site on March 20, 1986. Becoming stronger after the merger, Standard Chartered Bank embarked upon serious expansion in Europe and the United States. The Standard Chartered Merchant Bank was built up from a number of acquisitions made during the 1990s. In the last thirty years, Standard Chartered Bank has experienced continuous growth. It was also judged the best bank in the Asia-Pacific region in 1993 and 1994 for its continuous growth rate and excellent service.

Standard Chartered & Grindlays Bank; The Acquisition:

Standard Chartered Bank has taken advantage of the expansion opportunities. Buying Grindlays from ANZ now propels it form number five to number one among international banks in India, with some choice extra footholds in the Middle East.

A US $ 1.34 billion acquisition of the Grindlays network oil July 31, 2000 from the ANZ Banking Group of Australia made Standard Chartered Grindlays Bank Limited tile oldest foreign bank in Bangladesh. Dating back to 1905 with its forebears, the

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National Bank of India, opening a branch in Chittagong, Standard Chartered call claim a banking legacy of almost a Century in Bangladesh, which automatically qualifies it as the most knowledgeable foreign bank of local conditions. Today, there are 19 branches of Standard Chartered Bank, 12 of them are in Dhaka 3 branches are in Chittagong and the rest of them are in Narayangonj, Bogra, Sylhet, and khulna.

Standard Chartered Bank in Bangladesh is a full service commercial bank consisting of three business units. The business banking operation is built around a core of corporate clients, many of which are multinational relationships of Standard Chartered Grindlays, together with a number of local enterprises from both the public and private sectors. The consumer business provides a broad deposit base of local personal customers, international agencies and diplomatic missions through the extensive branch network.

As a full service commercial bank Standard Chartered Grindlays Bank Limited provides a comprehensive range of financial services and specializes ill the area of import and export finance, finance facilities including issuance, advising and confirming Letters of Credit, bonds and guarantees, investment advice, leasing and project Finance.

Standard Chartered and AMEX Bank; The Acquisition:

The acquisition of American Express Bank in Bangladesh in 2005 is reflections of the bank’s increasing commitment to Bangladesh. Standard Chartered bank is also continuing its investments for ensuring world-class services along with an array of international products for its clients.

Standard Chartered Grindlays Bank is the leading international bank, servicing Bangladesh with 100 years' local experience. It has close contacts with Government ministries, autonomous, semi - autonomous bodies and provides a variety of products and remittance ser-vices.

Similarly, foreign missions, aid and Voluntary organizations, consultants, airlines, shipping contractors and their personnel can operate Current account in both Bangladesh Taka and major foreign currencies, together with full remittance and deposit management services.

Starting in Bangladesh:

The Chartered Bank started operating in Bangladesh opening a branch in Chittagong. The branch was opened mainly to facilitate the post-war reestablishment and expansion of South and Southeast Asia. The Chartered Bank opened another branch in Dhaka in 1966, where it is still headquartered. After the merger of the Chartered Bank with the Standard Bank in 1969, the Standard Chartered Bank took up a program of expansion. It increasingly invested in people; technology and premises as its business grew in relation to the country’s economy.

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In 1993, there was an organizational re-structuring, which led to a substantial expansion of the Bank’s business. Today the bank has in total 12 branches in Dhaka 3 branches in Chittagong and four branches in Slyhet, Khulna, Narayanganj, and Bogra. Bangladesh is under the Middle East and South Asia (MESA) region, with the controlling office in Dubai. Its correspondent relationship with Sonali Bank, the largest bank in Bangladesh, gives its customers access to all major centers in the country. Standard Chartered Bank’s worldwide network facilitates convenient connections with foreign trade and remittance business. Standard Chartered Bank’s branch banking license in Bangladesh allows it to offer a full range of banking services.

Since the organizational restructuring in 1993, the amount of deposits and loans in 1997 has increased by more than five times. There is an overall increasing trend of Standard Chartered Bank’s market share in terms of deposits and advances. In 1995, the market share in terms of advances was 20%, which peaked to 29% in 1996 and fell by 3% in 1997. In the case of deposits, the market share of Standard Chartered Bank increased from 16% in 1995 to 18% in 1996, and increased by another 2% in 1997.

In terms of profit before taxes, there is a rise from eight million BDT in 1990 to its highest amount of 750 million BDT in 1998. The largest increase of 438% took place in 1991. Although the growth rate began to decline gradually from 1993 (from a 170% to 5% in 1998) the overall increase reflects a substantial positive trend. Standard Chartered Bank’s growth in terms of profit and market share depicts an overall positive trend.

Until September 2002, both Standard Chartered and Standard Chartered Grindlays will operate under the same management but as separate entities. With effect from September 2002, there would not be any Grindlays- only Standard Chartered Bank. Finally from January 01, 2003 both of the banks are operating their activities in Bangladesh by renaming them officially as Standard Chartered Bank and have changed their LOGO.

The Organization:

The Standard Chartered Bank in Bangladesh has its headquarters and twelve branches in Dhaka and three branches in Chittagong, and one branch in Khulna, Bogra, Sylhet and Narayangonj. While the full range of services is available at the headquarters, other branches offer specific services appropriate for the location. At the headquarters, the bank mainly consists of two divisions:

BusinessSupport

The business division has the following departments:Corporate Banking Group (CBG)Treasury (TSY)Institutional Banking Group (IBG)Consumer Banking (CB)

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Custodial Services (CUS)

Organizational organism:

Standard Chartered Bank is primarily corporate driven. More than the corporate banking generates 40% of its revenue group while Treasury contributes more than 20% to the overall revenue. The rest is generated from Personal Banking, Custodial Services and Institutional Banking. The Dhanmondi Branch is the head office of the Consumer Banking, which concentrates on the full services of Consumer Banking such as customer services, credit facilities, locker, information technology, priority banking and remittances. The Sheraton branch is more like a cash booth offering.

The Support division provides assistance to the above business activities and consists of the following departments:

OperationsFinance, Administration and Risk ManagementInformation Technology CentreHuman Resource DepartmentLegal and ComplianceExternal AffairsCredit

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CHIEF EXECUTIVE OFFICER

Support Manager TO CEO

Head of Corporate and

Institutions

Head of Finance & Admin.

Head of GSAM

Head of Consumer Banking

Head of Human Resource Dept.

Chief Operating Officer

Head of Treasury

Senior Credit Officer

Head of Information Technology

Head of Institutional

Banking

Head of Legal & Compliance

Head of External Affairs


All the staff members of Standard Chartered Bank belong to an internal trade union known as “Standard Chartered Bank Employees Union” the clauses of which are reviewed and agreed upon every two years

Chain Of Command:

The Standard Chartered Bank in Bangladesh follows a hierarchical pattern of command. The Chief Executive Officer (CEO), reports to the Regional General Manager, MESA in Dubai. All the department heads at the headquarters report to the CEO. In Chittagong, however, since there are two major business activities, a manager or senior manager, who reports directly to the head of the respective division in Dhaka, heads each. The Custodial Service division at the headquarters reports to the Head of Corporate Banking.

The respective branch managers are responsible for the performance of their unit. Each branch is organized functionally along line divisions with some support facilities and the manager assigns tasks to his/her subordinate personnel and supervises their performance, instructions are often given without necessary details and clarifications.1

Management:

The goal of Standard Chartered Bank is to be the “bankers of first choice.” Towards that goal, the overall planning in the organization is done at the headquarters level in Dhaka by a management committee (MANCO), headed by the CEO and consisting of the business heads of corporate banking, consumer banking, treasury, and from the support divisions the heads of human resource, operations and finance departments. They meet once a month, or when a special situation arises, to plan the strategic decisions are relayed and discussed. The decision making, although apparently based on a top-down approach, leaves room for participation down to the level of department heads, which are responsible for carrying out the planning of their department within the broad guidelines set by MANCO.

Among the broad strategic objectives are:

Creating a congenial work environmentModernization of the management information system to achieve full automation by drastically cutting down on the paper work in the long-runFocusing on service quality and consumer needsRecruiting and maintaining top-grade, efficient employeesTo invest in those technological systems which will upgrade and enhance financial services, and Creating an excellent brand image of the Bank

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Structure of the Consumer Banking:

Following is the reporting line and the responsibilities of the top management of file Consumer Banking Division of the Standard Chartered Bank:

Head of Consumer Banking

Bangladesh

Manager BFS Manager SQ & MIS

Control & MIS Manager

Support Executive

Head of Banking Products

Head of Distribution &

Priority Banking

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Head of Product Development &

Marketing Services

▪ Product▪ Development▪ Product Launch▪ Marketing▪ Market▪ Intelligence

▪ Secured,UnsecuredLiabilities▪ Product Sales inAll Channels▪ Product Marketing Campaigns forAll Channels▪ DSEManagEMENT▪ TELE SALES▪ ANTI-ATTRITION▪ PRODUCT PRICING/

FREE PRICING

▪ CreditCollections


Head of Cards

Head of Credit &

Collections

▪ Branches▪ Phone Banking▪ ATMs▪ EDMSs▪ Priority Banking▪ Relationship

Management ▪ Branch SQ

▪ Direct Sales▪ ProductDevelopment▪ MerchantAcquiring▪ CustomerService▪ Tele Sales

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Banking Services of the Standard Chartered Bank in BangladeshThere are two types of service provided by the Standard Chartered Bank.

1) Business or Corporate Financial Services 2) Retail or Consumer Financial Services.

But these two services can be classified further by the following ways:

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Banking Services of SCB in Bangladesh


Figure:Figure: Banking Services of Standard Chartered Bank Banking Services of Standard Chartered Bank

Business / Corporate Banking of SCB:Business / Corporate Banking of SCB:

It is very true that major contribution to the bank’s equity has been from business banking sector. It provides several types of services under business banking . As Figure shows, SCB offers corporate banking facilities to both local corporate and multinationals. Besides, it also provides commercial, Institutional, Quasi Government or Correspondence and Treasury banking facilities.

Banking Services of Standard Chartered

Bank

Corporate Banking

Consumer Banking

Correspondent Banking

Phone Banking

Services:Merchant BankingCommercial BankingQuasi Government BankingCorresponding BankingInstitutional Banking

Services:Personal BankingConsumer FinanceCredit Cards

Services:Inter Bank Transaction

Services:Operation of Accounts over Phone

Products:Trade FinanceLetter of CreditBid/ Performance BondsWorking Capital LoansMoney Transfer

/ Remittances

Products:InvestmentManagementWage Earner’s SchemeLockersDeposit ServicesDeposit ProductsPersonal LoansFund TransferVisa Credit Cards

Products:Cheque PurchaseGuaranteeRisk Exposure

Products:Account ServiceFund TransferCard ServiceProduct InformationMerchant AuthorizationsUtility PaymentCurrency and deposit rates Forms by fax

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Figure: Business /Corporate Banking of SCB

Merchant Banking:

SCB is recognized as the leading financial institution in corporate finance services in Bangladesh. A professional management team caters to the needs of its clients and provides them with a wide range of financial services some of which are project financing and investment consultancy, syndicated debt and equity, bond and guaranties, local and international treasury products.

Institutional Banking:

The IBG of Standard Chartered Bank offers a wide variety of products and services to different fund based organizations like donor agencies, NGOs, voluntary organizations, foreign missions, airlines, shipping lines and their personnel. It has global links with leading banking institutions, local banks, financial institutions and agency arrangements through its network of offices in 40 countries. The Bank offers a full range of clearing, payment collection and import-export handling services. The bank offers foreign missions, voluntary organizations, consultants, airlines, shipping lines, and their personnel the following financial services:

Convertible Taka accounts (these funds are freely convertible to major international currencies)Local and foreign currency, remittance, etc.

The varieties of financial products offered by this department are:

Commercial Banking:

SCB offers different commercial banking facilities to all commercial concern specially those with particular involvement with import and export finance. It provides the finance facilities like trade finance facilities including counseling, confirming export L/Cs, and issue of import L/Cs backed by its international branch

Business/Corporate Banking

Merchant Institutional Commercial Quasi Govt. Treasury

LocalMultinational

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and correspondent network. It also provides bonds and guarantees, investment advice, leasing facilities, project finance opportunities.

Quasi Government Banking:

The Quasi Government service of SCB helps the government by providing different financial service like efficient and knowledgeable management of trade business (import and export), skills in barter, swaps and counter trade deals. In addition, the opportunity of debenture finance for new projects, possibilities of hard currency loans and lease deals, the opportunity of syndicated hard currency, financing of loans and import L/C, highly efficient account management and remittance handling within the country or aboard.

Treasury Banking:

The treasury of SCB is one of the leading treasuries that offers foreign exchange requirements, provides market commentaries, economic forecasts and advisory to its major corporate clients. To keep its customers' up-to –date with what is happening in the money markets, SCB has ‘Weekly Treasury Updates’. Its treasury operations are developed in line with changing market conditions to provide the best services to its customers. According to BAFEDA (Bangladesh Foreign Exchange Dealers Association), Standard Chartered Bank presently controls about 42% of the local foreign exchange market’s traded volume.

Consumer Banking:

Superior retail banking services comprising a wide range of deposit and loan products are offered by the Standard Chartered Bank to its individual customers. The Consumer Banking division constantly faces challenges and meets them by developing new products and services to fulfill the specific requirements of local customers. The Bank offers a 24-hour service in Bangladesh through its Moneylink ATM network. There are 35 ATMs in Bangladesh 20 of those are located within branch premises and 17 are situated in off site location. Customer can get about 60% banking service only by phoning through call centre. Call Centre provides 24/ 7 one window service to the customer and which is free of charge.

SCB’s I- Banking offers instant access to a wide range of on line banking service and the latest promotion. I-Banking is a simple, hassle-free and secured internet banking service to SCB’s customers. Moreover the Bills Pay Centre is an automated service that is designed to ease the customer’s bill payment problems. Customers can stop by those centers and use machines at any time of the day or night to make bill payments which is absolutely free of charge.

Some of the basic products and services offered by the Personal Banking division are: Current Accounts, Overdraft on Current Accounts, Foreign Currency Term Deposits, Local Currency Cash Cheques, Cheque Purchase, Drafts, Savings Accounts, Term Deposits, Telegraphic Transfers, Traveler’s Cheques, and Personal Loans

Correspondent Banking:

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The International Network Service (INS) department offers its correspondent customers:

Current account services where Taka settlement is necessary.The ability to issue bonds and guarantees in support of their customers business.Advising of L/C and negotiation of documents.Market intelligence and status reports.Inter branch transactions facilities.Risk Exposures.

Phone Banking:

This Department gives the following services:

Operations of accounts over the phone.Transfer of money between accounts.Order Cheque books, account statement.Any kind of quarries related to banking transactions.Any kind of quarries related to credit card.

Other Support Services:

For providing all these services to customers efficiently the bank undertakes some other necessary support services, which are described below:

Custodial Service; The Equitor:

Headquartered in Singapore, Standard Chartered Equitor fulfils the group’s strategic commitment to the provision of custodial service in Asia. Equator’s customers are primarily foreign global custodians and broker/dealers requiring cross border information as well as sub-custodian services. Standard Chartered Bank, Bangladesh is responsible for the planning in Bangladesh, but the overall management of the custody business is based on Equitor’s international business strategy. Clients are offered a customized and comprehensive range of products and services, which include:

Custodial servicesBrokerage, clearing and settlement servicesSecurities lendingForeign ExchangeTransfer agent for institutional debt and equity offeringsDelivery, receipt, settlement, registration and physical safe custody of securities

Operations:

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Operations are the part of the support division, which helps to run the businesses of the bank in a smooth and controlled manner. Since it helps mainly in processing the works of the business units, any mistakes made can be easily detected and on time. Following are the main functions of the operations department:

Central operations deals with the closing and opening of accounts and other payment and account related processing of the Personal Banking divisionTreasury operations helps to deal with the processing works of the treasury divisionLoan Administration Unit (LAU) deals with the processing of the Corporate Banking division.

Finance, Administration and Risk Management:

This support department performs the following activities

Administration, audit and back office operationTaking care of taxation and financial control of the BankKeeping track of overall credit operation

Information Technology Centre:

This department is instrumental in the running of all the computerized operations of the bank. They help in the implementation and generation of computerized reports. Another major duty of the department is to maintain communication with the rest of the world.

Human Resource Department:

This department manages recruitment, training and career progression plan. Standard Chartered Bank highlights the importance of developing its people to create a culture of customer service, innovation, teamwork and professional excellence.

Legal and Compliance:

In the UK, Standard Chartered Bank is regulated by the Bank of England, while in Bangladesh it is regulated by local banking laws and rules set by the Ministry of Finance and Bangladesh Bank. The local restriction involves a license from Bangladesh Bank to operate banking business in Bangladesh. Standard Chartered Bank complies by the rules and regulations seriously. It also encourages its staff to conform to an internal culture of ethical behavior and sensitivities to the culture and religion of the country. There is a mandatory training on Company Code of Conduct for all staff members.

Some of the key areas that the Legal & Compliance department has to take care of are: any kind of legal issues, to advise the CEO regarding all matters and the management on legal and regulatory issues, correspond regulatory compliance issues to MESA Regional Head of Compliance, and supervise internal control (e.g. internal audit).

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External Affairs:

This department deals with advertising, public relations, promotions, partial marketing which involves disseminating new products and services to customers and above all ensuring service quality.

Credit:

The credit department approves the loans of Corporate Banking division. The approval is mainly based on the risk analysis of the corporate clients done by the Corporate Banking division.

Social Welfare Activities:

Standard Chartered Bank believes in the interdependence of world communities and hence the need of investing in community welfare. In Bangladesh, Standard Chartered Bank is a corporate sponsor of the Young Learners’ Centre in Dhaka and Chittagong, which were started by the British Council. It is also involved in Fresh Water for Slum Area project with a major. There is a separate department in Lslamia Eye Hospital which is finance by SCB

Call Centre:

Call centre is a centralized placed where customers/ non-customers calls are handled by an organization, usually with some amount of computer automation. Typically a call centre has the ability to handle a considerable amount of calls at the same time, to screen calls and forward those to someone qualified to handle them.

Call Center is a one point compliant center that is design to provide convenience, easy accessibility and technology based 24/7 one window service to the customers. Call Center facilitates to enhanced branch quality by diverting calls from branch and reducing queues. One of the core objectives of Call Center is to response to customer’s request of new products and services.

At present all the brochures of SCB maintains the number of Call Center rather than individual branch numbers and thus when customer call on, based on their standing referral is generated. Call Center X-Seller is design to update all the information about potential customers, so that in the near future they can be offered suitable products and to record all the cross-selling activities of Call Center Representatives.

Objective:

To provide cost effective alternative delivery channels to customers in order to attain service excellence in terms of:

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24/7 one window serviceConvenience and easy accessibilityQuality and responsivenessTechnology based solutionFree of charge

Standard Chartered Bank’s 24 hours call centre is the easy answer to the customers banking needs. No more queuing at the branches and its absolutely free.

How to apply for the service at the call centre:

To avail SCB’s call centers service, a bank account holder has to complete the Call Centre Form available at the branches. The application is forwarded to account service for generating the TIN (Telephone Identification Number). The customer can collect his/ her TIN from desired branch after two working days from the days from the days of submission of the application.

For credit card customers TIN is generated online. The cardholder contacts the SCB;s call centre and after the necessary security checks have been conducted, generates the TIN himself/ herself. The process is stated below:

Call 8961151 or 0173041400-19Press 1 for Bangla or 2 for EnglishPress 2 for card servicePress 3 to generate a new or forgotten TIN

Than the call will be forward to Customer Service Representatives (CSR). After verification, customer call will be sent back to IVR to generate the new four digits TIN. A TIN will remain valid if is not used for any period of time. In case of replacement of TINs, the previous TIN will deactivated automatically when the new TIN is generated.

Service offered:

The call centre has two components. The automated system IVR (Interactive Voice Response) and the human interface CSR ( Customer Service Representative). The CSRs are divvied into two units’: branch banking and credit cards. The service provided through IVR and CSR are detailed below;

Services offered through IVR:

(Divided into financial and non financial transaction)

IVR non- financial transaction:

Balance inquiryTransaction Details

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Duplicate statement RequestCheque book request (only for liability accounts)Online TIN generation (only for credit cards)Existing TIN changeCurrency deposit rates ( USD, GBP, Euro, Yen, AUD & CAD)Product information ( assets and liabilities)Forms by fax

IVR financial transaction:

Fund transfer within same master and local currencyCredit card bill paymentUtility bill payment

Service offered through CSR:

(Divided into branch banking and credit card)

Branch banking CSR:

Bank account inquiriesTransaction details Stop payment of cheque(s)Hot marking of debit cardReplacement request of debit cardDuplicate statement requestRequest for change of statement cycle & dateRequest for solvency, interest, sanchay patra & loan related certificatesPay order and demand drafts request

Credit card CSR:

Card account inquiresAuthorizationsCard activation – new & renewedBlocking of lost cardRequest for card re-instatement & replacementAmendment of address and telephone numberDuplicate statement requestRequest for change of statement cycle & dateSaftyNet de-enrolment and re-enrolmentInstrabuy transferReward point redemption

There are some services of SCB, which charge is very low if the customer requests to get the service through call centre rather than the branch. Those are given by the table

Services Charges from branch

Charges from call centre

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Certificates (solvency, balance confirmation, interest, encashment)

Tk 287.50 (250+15%VAT)

Tk 115 (100+15%VAT)

Credit solvency information (mail)

Tk 575 (500+15%VAT)

Tk 115 (100+15%VAT)

Bank statement (less than one year)

Tk 575 (500+15%VAT)

Tk 115 (100+15%VAT)

Bank statement (more than one year)

Tk 1150 (1000+15%VAT)

Tk 230 (200+15%VAT)

When a customer wants to get services from call centre and phone to the given numbers, first of all the IVR or CSR will ask the customers account number and than TIN number. If both of them are match than IVR or CSR will provide the desired service.

There are some steps that the customer has to follow to get service through IVR of call centre. If the customer follow those steps properly than he/ she can easily get the required service that he/ she want.

For example:

If a customer wants a duplicate statement from call centre through IVR than he/ she should press 1-1-2-2-2.If a customer wants to change the existing TIN of credit card than the customer should press 1-2-1-2-2-4.If a customer wants to made credit card payment than he/ she should press 1-1-2-3

I-Banking:

I-Banking is a simple hassle free and secures internet banking service available to all SCB’s customers.Standard Chartered Bank’s internet banking service is the fast and easy answer to the financial management needs of its customers, allowing them to bank from whatever they are. It takes only a few minutes to complete a banking transaction .

I-Banking access will be withdrawn whenever there is a change in mandate to operate the account. If a customer has account under different masters, it is possible to link them to use the same user ID for I- banking, so he/ she can view all his/ her accounts with a singles I- banking user ID.

How to apply for I-banking:

There are two simple ways for customers to apply for SCB’s I-banking convenience:

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Customer can submit a completed I-banking application form (found all branches). Than he/ she will receive his/ her I-banking ID by e-mail at the e-mail address mentioned at the application form. Customer will have to collect the password from his/ her desired branch after three working days from the date of application. The customer can than log on to WWW.standaedchartered.com/bd and start enjoying I-banking services date account details. I-Banking is a convenient, user-friendly, way of staying informed and in control of ones’ account from anywhere in the world.

Who is eligible for I-Banking access?

1) All customers (including credit card customers) with the exceptions of the following are eligible for I-Banking:

a)customers with a company accountb)where there is mandate to operate the account jointly

2)Customer can visit WWW.standaedchartered.com/bd. submits the completed electronic I-banking application form online, creating his/ her own i-banking ID. Than he/she prints, signs and drops the form at any SCB’s branches, along with a copy of his or her valid photo ID. The password should be collected from his or her specific branch after three working days. Than the customer can log on and start enjoying the I-banking services.

Services of I-banking:

Customers can get the following services by using the I-banking password:

Account service : View en tire relationship with the bank at a glance, check account balance, view and download statement.

Fund transfer: Transfer funds between own SCB’s accounts Standing order: Request the set-up of standing order. Cheque status: Check the status of cheque issued from accounts. Credit card payments: Pay from the account to card, both of should be

linked with I-banking. Credit card service: View card statement, check the card balance, apply for

credit limit increase. Personal information: Change existing password. Market watch: Get updated on foreign exchange rate.

Bills pay:

The 24 hours bills pay centre is SCB’sone-stop bills payment solution. It is an automated service that is designed to ease the customer’s bills payment problems. Customers can stop by those centers and use the machines at any time of the day or night to make bill payments. They can also send the copy of their bill to make the payment on their behalf. There is no additional fee associated with it.

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http://WWW.standaedchartered.com/bd

http://WWW.standaedchartered.com/bd


Locations:

The bills pay centre are located at the following branches:

Dilkusha (Dhaka main)GulshanDhanmondi # 2

Services provided by bills pay centre:

Services of bills pay centre are mainly two kinds, those are Bank payments and Utility payments. Those two are further classified are:

1) Bank payments:

Credit card paymentsAccount service

2) Utility payments:

DESADESCOBTTB

Bank payments:

The customers can made credit card payments or even deposit into his/ her account round the clock. All he/she has to select the preferred optionand key in the amount they wish to pay/ deposit. Next the mode of payment has to be selected. The customer has the option of paying cash, cheque or debit instruction (if an SCB accountholder). Than he/ she must put the cash, cheque or debit instruction inside the envelop and sealed it, write the instruction number on the envelop and drop it in the machine. A maximum of six payments/ deposits can be made through one transaction.

Utility payments:

The payment of DESA, DESCO and BTTB bills can be made through bills pay machine. After selecting the preferred option, the amount the customer wishes to payhas to be keyed in. than the mode of payment should selected. Customer has the option of paying cash, cheque or debit instruction (if an SCB accountholder). He/ she must put cash , cheque or debit instruction inside the envelop and sealed it write the instruction number on the envelop and drop it in the machine. A maximum of six payments/ deposits can be made through one transaction. But payment cannot be made to different billimg companies under one transaction number.

Customers don’t have to sign up for this service. In fact customers can send their representatives at any time of the day or night to make their payments. The machines are serviced twice daily. Payments made until mid-day are updated in the system on the same day while payment made after noon are updated the following working day.

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Debit Card:

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Services provided by SCB in terms of debit card


At the time of opening an account with Standard Chartered Bank, generally every customer gets a debit card to operate the transaction easily by ATM. After opening the account it takes three to four days to issue debit card. With this card customer gets PIN (Personal Identification Number), TIN (Telephone Identification Number) and cheque book if the account is not Access or Graduate. Customer can easily use the card by using the PIN to the ATM booth.

Debit card is a form of Bankcard. A bankcard is a card issued by a financial institution. Cardholders can use the cards to access their financial resources, such as withdrawal, deposit and checking account.

Debit card is an electronic based plastic card bearing a card number assigned to a cardholder with a specific withdrawal limit that can be used to purchase goods and pay for services without cash/currency note transactions from the appointed merchants of issuer of the card.

Debit card was first introduced by EBL in April 2004. Standard Chartered Bank’s debit card was first issued in July 24, 2005 only for the staff of the SCB and for the customer it was issued in September 1, 2005. Before that debit card was named ATM card. By considering market and customers need debit card was introduced as replacement of ATM card with additional facilities.

By definition, Debit card is a continuous facility given to the card subscribers. People prefer the Card transaction instead of cash because of its following advantages:

It increases purchasing power.It eases the transaction process (money less transaction).It is convenient to carry a plastic card rather than bundles of cash. It lowers risks of losing money as often occurred through hijacking/snatching or forged currency notes.It is issued for five years with renewal facility available.It provides the advantages of life insurance from tk 1, 00,000 to tk 5, 00,000.

Not all bankcards are debit cards. Other bankcard products include:

Credit CardsCheck Guarantee Cards

Likewise, not all debit cards are issued by a financial institution. Non-bank debit cards include:

Oil Company CardsTravel & Entertainment Cards

Activation of Debit card:

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The activation of debit card is very easy. First transaction of debit card should be any ATM. When the customer use the card to a machine by using the selected personal identification number (PIN) than the card will be automatically active. Without using the card to ATM no one can use it for shopping or other service.

How to use the ATM:

A debit card is produced against each customer’s account. The operational mandate for the account must be “singly” or “either or”. Debit card is not issued for company account but this service is available for the sole proprietorship accounts. A computer generated personal identification number (PIN) is issued for the card. Both the PIN and card have to be collected from the branch personally. No authorized parson can collect those on behalf of the customer. The customer inserts the card to the machine. After few seconds the PIN is wanted by machine throw its screen, than customer should type his/her PIN. The machine verifies the card and the PIN if they match, allow the customer to avail his/her desired service.

Facilities available throw ATM:

ATM stands for Automated Taller Machine. This machine is capable of dispensing cash, taking deposits and providing other services to the customers. The ATM is fast, easy and convenient way for customers to withdraw, deposit cash and also avail other services offered by the ATM, without having to step into a branch for 24 hours. The facilities provided by ATM are:

Cash withdrawalCash depositCheque deposit

Mixed depositInstruction depositBalance enquiryFund transferInstant mini statement printoutCheque book requestStatement requestSCB’s credit card bill paymentUtility bill payment

Debit card holders can avail the facility of cash advance & utility bill payment through the ATMs.

Cash Withdrawal:

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Customers can withdraw a maximum of BDT 20,000/- daily. Priority customers are able to withdraw a BDT 50,000/- daily and Extra Value Savings Account customers can withdraw a maximum of BDT 40,000/- daily.

Cash Deposit :

When the customer chooses ‘cash deposit’ on the ATM screen, the ATM ejects an envelope in which the money is to be enclosed. The customer has to type the amount of deposit that is printed on 2 receipts. One receipt has to be inserted into the envelope and the other is for the customer’s own record. Now the envelope is closed and inserted into the ‘deposit slot’. Two Bank officers are jointly responsible to collect the envelopes and deposit the fund into customer’s account. If the amount of money inside the envelope doesn’t match the amount printed on the receipt, the officers will deposit whatever the amount found inside the envelope and inform the customer of the discrepancy.

Deposit through the ATMs that are located within branch premises is posted to the account within the next working day. Deposits through all offsite location ATMs need two working days for the funds to be credited.

Cheque Deposit: Cheque can be deposited in the same way as cash.

Mixed deposit: ATM allows cash and cheque to be deposited at the same time.

Instruction Deposit: Customers can also deposit written instructions inside the envelope.

Balance enquiry: One can check his/ her account balance from the ATM at any time.

Instant mini statement: Printout of an account’s last ten transactions may be taken at any time.

Fund transfer: The customer is allowed to transfer funds between accounts under the same master.

ChequeBook request: Customer can request a chequebook at the ATM. After receiving the request, confirmation of the instruction is taken from the customer, by Branch personnel, over phone. Once confirmed, the chequebook is issued and sent to the home branch unless otherwise instructed by the customer.

Statement request: Customer has the option to request for a statement of his/ her account through the ATM. The statement is sent by courier to the corresponding address recorded in the account.

Utility Bill Payment: The customer must first register to pay for the particular utility. He has to complete the call centre form and submit it at the branch with the latest bill of the said utility. He/ she can pay his utility bills through the ATM from the next billing cycle.

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Cash Advance: A cardholder can withdraw cash from his card account through the ATM.

Advantages of debit card:The activities and operating procedure of debit card is same as ATM care with additional facilities of shopping and insurance coverage.

Debit card access the customer to operate the account at any time from any where of the country instantly where the ATMs are. There are 35 ATM booths (in branch premises or offsite) allover the country from where the customer can deposit, withdraw or can inquiry the balance of his or her account. By using debit card customer can made payment, for purchasing goods or services, to merchants all over the country. One can pay utility bills to ATM booth by debit card. It controls the customer’s transactions, because he can expense up to the balance of his card. The user of debit card will get the advantages of life insurance from Tk 100,000 to Tk 500,000.

Shopping or withdrawal at any time:

A debit card holder can made payment for his or her shopping, restaurant and petrol pump. It is very easy and convenient way for the customers.

Shopping:

Customer can use the debit card to the merchants where there is the sign of VISA OR VISA ELECTRONS. When debit card first issued there were more than 800 merchants or shops which contains this logo. The debit card user should know the following information before using the card to the merchants.

To pay the bill show the card to the cashier and inform him that you want to make payment by the card.Than cashier will swipe your card to VISA pos machine. If the machine approved than the cashier will give you a charge slip which is printed from the machine.The customer will sign to the slip, but before signing he should match the bill with the amount mentioning in the sleep. If the two figures are same than the customer are suggest to sign to the slip.Thus the customers bill will debited from his or her account at Standard Chartered Bank.Be sure of your balance before shopping otherwise the machine will reject the card.

Necessary trips:

At the time of taking the card from the classier make sure that it is your card.If there is any illegal procedure than inform the bank instantlyIt would better for the customer to hold the chard slip until it is shown in the account statement.Store the card in a cover provided by the bank.

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Cash withdrawal:Customer can withdraw the necessary amount up to his limit from any ATM booth any time.Customer has to follow the instruction mentioning the screen.The daily withdrawal limit for general account holder is Tk 20,000. Customers are requested not to withdraw Tk 20,000 at a time, because sometime it may problem to delivery such amount at a time. To avoid this problem can withdraw it two or three times.Customer should be sure that the amount which he selected is correct.Carefully use the PIN otherwise the card will captured.Don’t take time more than eight second to operate each step at the time of use the machine.Take out the card instantly when it instruct by the machine. AndBe sure of your balance before withdrawing.

If the customer has a previous ATM card:

If the customer has a previous ATM card and if the card is valid than the customer can use it, but cannot get the facilities of debit card. If the validity of the card is expired than the bank will issue a new debit card for him. After getting the new card the customer are requested to destroy the previous ATM card because he cannot use the previous card. Activation process of the new card is same as above mentioned.

Auto renewal of debit card: Standard Chartered Bank is automatically issuing Debit card instead of previous ATM card to all customers gradually to customers mailing address on the basis of expire and use of the card. With the new debit card customers are informed about the use of the card by a letter. Customers can use the new card by using the previous PIN, but should follow the rule of activation. If an ATM card of a customer expire and not get any debit card as replacement than the customer is requested to contact to the bank for his new debit card. If the mistake is done by bank than he customer will issue a new debit card free of cost, but if the card could not delivered to customer for his address change or any other fault by the customer and the auto renewal card is destroyed due to non collection from bank than the customer should pay the replacement fee which is Tk 345 (300+15%VAT).

Conversion from ATM to debit card:

If the ATM card of a customer is valid such as not expired and wants to convert it to debit card to get the additional facilities than he or she has to go to any branch of SCB and talk to the PFC (personal financial consultant) or to the service ambassador. That time the customer should fill up the debit card application from and submit the previous ATM card. Branch service ambassador or PFC verify the customer’s sign and accept the application form. Than he form will sent to account service.

It takes three working days to issue a new debit card. After three working days customer can get the card from his/her desired branch. At the time of issuing the new

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debit card a new PIN will issued to the customer. Than the customer should active the card by new PIN to any ATM. The conversion charge from ATM to debit card is Tk 345. Validity period of a debit card is five years which is mentioned on every card.

The replacement card has to be collected from the branch. Only auto renewal cards are sent to the customers corresponding address. The customer can specify any branch that he wishes to collect the card from. He/ she should mention the branch from which the card is to be collected, on the request form.

Lost or stolen card:

If the ATM or debit card is lost or stolen than the customers are requested to inform it to the Call Centre immediately by those numbers 8961151 or 0173041400-19 to marking the card hot otherwise there is a chance to use the card by others.

The process of getting the new card is same as above, but the difference is the customer has to submit any sort of photo ID (passport / driving license / voter ID) to the service ambassador or to the PFC which is substitute to his surrendering the previous ATM or debit card.

Lost/ Forgotten PINThe PIN is not recorded in any form, anywhere by the Bank. Also a PIN cannot be generated by itself without a corresponding debit card, so if a customer looses/ forgets the PIN he/ she will have to apply for a replacement card.

Number of ATMs:

Standard Chartered Bank has 36 ATMs in Bangladesh. 19 are located within branch premises and 17 are situated in offsite locations. ATMs within branch premises are:

1) Dilkusha Main (2 ATMs)2) Motijheel (Alico)

3) Kakrail

4) Sheraton

5) Kawran Bazar

6) Dhanmondi # 2

7) Dhanmondi # 5

8) Banani

9) Gulshan

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10) Uttara

11) Chawk Bazar

12) Mirpur

13) Nasirabad

14) Agrabad

15) Narayanganj

16) Bogra

17) Khulna &

18) Sylhet

At present all 12 offsite ATMs are located in Dhaka. They are:

1) Johnson Road

2) Tejgaon

3) BAT, Mohakhali

4) Gulshan

5) Syamoli

6) Shanker

7) Pallabi &

8) Uttara

9) Mogbazar

10) Natun Bazar

11) A R Plaza

12) Motaleb Plaza

The Rest of them are J. K. Road Chittagong, Slyhet, Narayangonj Bogra, and Khulna.

Reasons of cards captured and collection:

Cards may be captured any time at the time of undergoing transactions. The reasons

are:

If the user takes more than 8 seconds to transact an option.

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If the magnetic field at the back of the card is faulty.If wrong PIN is given.If the card insert improperly.If the card is not taken out when the machine eject it.If the card is expiredIf the customer use TIN instead of PIN.

If the card is captured within the branch premises than the customer can collect the card from the branch the following day by signing a register kept by the service ambassador, but if the card is captured in offsite ATMs the customer needs to go the linked branch which is mentioned above. The customer should be careful at the time of using the card.

Necessary information relating debit card:

To avoid any misuse or financial loss customers are requested to sign on the Signature panel of the card. The card is only for the customer to use. So, customers should not handover the card to any person without the bank officials.Customer should keep the PIN so safely that no one can know it. If can than the card may misused.Debit card holder will get the facilities of life insurance up to tk 100,000 to tk 500,000 without any extra charge.The daily withdrawal or shopping depends on the limit of your account. So, customers should aware about his or her account balance before use the card.Debit card holder will get the facilities of discount or special offer at the time of shopping to special occasion.If the card is lost or stolen than the customers are requested to inform it to the call centre or report it to any branch.If the address or the phone number of the customer are changed than he customer should inform it to the bank properly to amendment it otherwise it will be a great problem to contact with the customers.For any kinds of transaction with the bank the 16 digits card number and 11 digits account number will necessary. So the customers are requested to remember those numbers or to keep with him.Activities of debit card are limited in Bangladesh.Customers should be careful at the time of using the card by the merchants. He should present at the time of using the card by the merchants. Otherwise there be a chance of misuse of the card.To settle any kinds of problem charge will applicable.It would be harmful for the card if the card is kept near television or any electronics device where there is always magnetic strip or the card should not kept under the sun and should not bend it. Before using debit card it would better to understand all the conditions and how to use the card. Because it is thought that customer are using the card after knowing everything properly.

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Collection of captured card :

At the time of using a card may be captured. Customer can collect the captured card the following day from the branch if the ATM is located within the branch premises. For offsite ATMs, the customer needs to go to the selected branches of that ATM. The attached branches of offsite ATMs are given below:

Captured at Collect from:

Johnson Road, Hadi Mansion

Shyamoli & Pallabi, Dhanmondi# 5

Shankar, Dhanmondi# 2

Mascot Plaza, Uttara, Uttara Branch

Tejgaon & BAT, Banani Branch

Gulshan 1, Gulshan Branch

Natun Bazar, Gulshan Branch

Mogbazar, Kakrail

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Background:

In Bangladesh, SCB was the first Bank to commence the VISA and MasterCard in 1988. I view of the vast potential market, the bank recognized the prospect of introducing a local currency credit card in the country. Consequently, SCB launched the first Taka credit card in January 1997. As part of the growth strategy, SCB took a conservative approach to create market awareness and build brand loyalty gradually. At presents, SCB with above 51% Market share has a very strong leadership position in the market. It leaves the bank with the tremendous opportunity of capitalizing this untapped emerging market. Over the last four years while SCB has been growing steadily by increasing it’s cared base, the quality is also maintained. With the increase in volume, both issuing and acquiring profitability have also been steadily rising.

Product description and structure:

The card division of SCB offers three types of cards:

Master Card Gold Master Card SilverVisa Silver

And it is also very good news for all of us that this bank is going to be issuing the Platinum card from this March. It was experimentally approved and the system is functioning.

Based on income criteria (TK. 10,000 at least) all three types of cards are given to the people. In order to have the Visa or the MasterCard one should have at least TK.10, 000 monthly income and the highest limit of these cards are below 1 lac. The Gold card’s range starts with minimum of TK. 1 lac. maximum less than 4 lac . The Platinum card range starts with minimum 4 lac.A secured credit card called Fast Card is issued against lien over on – bank deposit account (Savings, FDR, Current, STD) or govt. approved savings certificates.Credit card holder payments are accepted at all the 15 branches across the country. Manual payment toward the card account can be made through cash, cheque and debit instruction. Manual payment is automatically posted in to the card account if the auto debit is availed.

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SCB and credit card in Bangladesh


Target market:

From the early discussion we can say that the target market consists of individuals with a minimum gross income of BDT 10,000 per month and usually at least 21 years of age for a primary card and 18 years of age for a supplementary card. Cards are not normally issued to individuals over 70 years old. As the income of the applicant is very important here, the applicant must be a citizen of Bangladesh or non – Bangladeshi holding a valid work permit.

Merchant acquiring:

Merchants play a great role in the whole credit card process. In acquiring SCB is the most dominant player since 1988. Unlike the competitors, SCB acquire VISA, MasterCard. At present, SCB has around 3500 merchants established in all the major cities across the country. SCB has 180 POS terminals out of total 250 electronic merchants around the country. Cash advance is available from all 15 branches and 13 ATMs of SCB. After joining with SCB the total number of branches and ATMs have increased marvelously.

Card marketing:

It is very important for the bank to give more effort to sell its credit card. That’s why we cab see that this bank chooses different sources to acquisition its cards. SCB usually achieve its target mainly by using the following marketing concepts:

Sales consultantsWalk – in customers at the branchesTake ones at branchesDirect mailing and pre-approved programsDifferent card acquisition campaigns.

Competitive environments:

Following SCB’s marked success in acquiring and issuing, a number of competitors have emerged in the last few years. The existing market players are National Bank, American Express Bank, Vanik (Sri Lankan Golden Key Company), Prime and HSBC.

With approximately 1 lac cards and above 51% market share, SCB is strongly positioned in the emerging credit card market. Market information suggests that Citibank is considered an imminent competitor. SCB’s Card Services:

Personal banking and business banking of SCB, though these two are the major functions of any commercial bank, a description of SCB’s customer services will not be complete without a discussion on its card services. This section of the report discusses different care services of SCB.

Repayment of Credit Amount:

SCB offers its customers with the option to repay the credit amount according to their convenience. Every month bank sends a statement contains details of the purchases and cash advances made by the customer in the last 30 days. Then the customers have two options:

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Pay the bill in full within 15 days from statement date. In this case, customers do not have to pay any interest charge for purchases. In case of failure of payment within 45 days, customers have to pay an interest at the rate of 2.5 percent over the total credit amount and a late payment fee.

Spread the repayment over a number of months while repaying the bank 10 percent of the outstanding balance in the statement or Taka 500 (whichever is greater) every month.

SCB, the pioneer of card services in the country, has achieved a huge success. SCB has achieved a sharp growth rate in both Silver Visa Card and SCB Access card and a steady growth rate in Gold Master Card over last three years.

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Definition of credit cards :

Cards utilized to purchase goods and services on credit, in contrast to debit card which are use to withdraw cash from ATMs.

Credit card means a plastic card against which customer is given loan.

Types of credit card of SCB:

1. Platinum cards2. Gold Cards3. Silver Cards.

They are providing another one:

1. International Visa credit cards,2. Cricket cards3. Gift Cards,4. Traveling cards.

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SERVICES ARE PROVIDED BY SCB IN TERMS OF

CREDIT CARD


Customer declaration required for debit card & credit card:Customer Declaration:

Document Submitted:

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Functions of credit analyst: After having declaration and document credit analysts will analyse applicant’s

financial status, Bank statement and other document. Analyzing all information analyst set the credit limit of credit card holder. Setting credit limit it is sent to the applicant’s home branch.

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A Winning combination of benefits:

Standard Chartered Credit Card comes to you with a winning combination of value-packed features and benefits. This directory contains information that you need to make the most of your Card and to enjoy its various benefits.

Wide acceptance:

Standard Chartered Credit Card is accepted at more than 3,500 outlets across the country- You can use your Card for everyday purchases as well as for high value purchases. Our wide range of merchants include hotels, restaurants, airlines & travel agents, departmental stores, hospitals and diagnostic centers, jewelry shops, electronics and computer shops, leather goods, mobiles and internet service providers and many more. This number is increasing everyday to cater to your growing needs- We have recently petrol pumps in our merchant list and you can also pay your fuel charges using your Standard Chartered Credit Card.

Easy credit:

Standard Chartered Credit Card offers you the power and flexibility to plan your payments. Your card statement is generated once a month and you can repay the outstanding amount within 1 5 days from the statement date. Thus, the card offers you interest free credit up to a maximum of -45 days.

In addition, you have the option to pay as little as 5% of the outstanding each month and the balance at your convenience. There is a finance charge of 2.5% per month on cash advances and alt other transaction types. However, you pay no interest (except for cash advances) if you settle all your bills in full on or before the payment due date.

Instant Cash Advances:

You do not need to carry cash anymore if you are carrying Standard Chartered Credit Card- Your Standard Chartered Credit Card gives you access to cash up to 50% of the credit limit- You can withdraw cash advances from all Standard Chartered ATM's around the country, thus having access to cash 24 hours-a-day. Besides, cash advance can also be taken from any of our branches across the country-

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Card Services and after getting cards Customer Queries and Answers


Safe and secure :

In case your Card is lost or stolen, we wilt quickly replace it for you. Once you report the loss of your card to the Bank. you have no liability for fraudulent charges thereafter.

Rewards Program:

As a Standard Chartered credit cardholder, you will accumulate points for every purchase made using your credit card. Our Rewards Catalog is packed with variety of products and gift vouchers at an unbeatable value and you can easily select your reward based on the number of points you have earned. For every Tk. 50 spent on your credit card, you will earn 1 Treasure Point and be closer to redeeming the reward of your choice.

Auto Billspay:

The simplest and most convenient way of paying your monthly bills of mobile phone. Internet, cable TV, etc. With a Standard Chartered credit card, you no longer have to stand in long queues or run around to different places. We will make payment of your bills every month by debiting your card account.

Safety Net:

A special insurance benefit to safeguarding you and your family from the setbacks brought about by accident, prolonged illness or injury or death. In the unfortunate event of death or permanent total disability, the entire dues on your credit card account will be waived. As a Standard Chartered credit cardholder, you will be automatically enrolled In Safety Net with a 2 months free trial period. If you do not need the protection of SafetyNet, you can opt out anytime by simply calling our Card Services-

Air Accident Insurance:

The Standard Chartered Credit Card gives you Free Air Accident Insurance Coverage up to Tk. 100,000 (for Silver card) or Tk. 500,000 (for Gold Card). This coverage is also applicable for Supplementary cardholders

Supplementary Card:

You may apply for Supplementary Card(s) for your spouse, parents, sisters, brothers, friends or children over 18 years of age. The Supplementary Card(s) will carry a

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separate account number so that in case of loss or theft, only the affected Card(s) need cancellation. The unaffected Card(s) continue to enjoy uninterrupted Card usage. All charges incurred on the Supplementary Card(s) will be reported on your monthly statement.

Customer Services:

You can call our Customer Services at for any card related queries any time, any day.

CUSTOMER QUERIES AND CSO'S QUESTION:1. Positive ID cheque:

As the customer comes to the branch for knowing out standing balance, card status or any details regarding cards then Customer services officer (CSO) ask different question like

Name:

Father’s Name:

Mother’s Name:

Date of Birth:

Liking Color:

Favorite Friend

Favorite City etc.

2. Card activation : For activating the cards, cardholders have to call SCB’s centre. Call centre employee will cheque the details if it is correct then they will activate the card. Sometimes branch also do that.

3. Stolen report and replacement:Customer should inform about their stolen card within the short period of time. Otherwise it may misuse by other people. Bank will replace the card in place of stolen cards.

4. Customer Queries:

Customers they have a number queries about their card details. Sometime. It may logical or illogical.

5. Customer contact details change:According to the customer convenience they can change their contact details.

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6. Retained card:Sometime, for taking more time at the time of in creating cards, Card may be captured by booth. Showing personal details customer may return back the captured, cards.

7. Free Reversal:

Any reversal regarding transaction will be free of cost will be free of cost.

8. Billing date charge:

Billing date is set up by the bank authority. But customer may charge it when required.

9. Voluntary closure:Customer voluntarily can close the cards. Before doing that they have to fill up a colure form showing their inconvenience.

10. Advance Renewal:Each card has its limited time of course has renewal date. Advance a card my be renewed.

11. Balance transfer: Credit card balance may transfer.

12. Cards delivery on special request:Card can be delivered after meeting the personal details in time. But some times, it is seen that card is deliverer on special request it details don not match.

13. Emergency Card Replacement:If any reason remains behind, card functioning this card is replaced with emergency basis.

14. Credit Limit enhancement:At the first time credit limit is given on the basis of bank statement, salary structure, and other income.

Customer may think give credit limit is not enough for them. Customer may apply for credit enhancement that why customer have to fill up a form. According to the customer’s transaction quality, due payment status, etc. credit limit may increase.

15. Name Correction:Customer, sometime may mistake in writing name Spelling mistake and other mistake may occur. Bank normally corrects the name with their own responsibility.

16. Name change:Customers’ name may change if needed. Sometimes wrong name is written that’s why name may be changed.

17. E-Statement Subscription:

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According to customer more convenience they have been give E-Statement opportunities.

18. Card Cheque Issuance:For withdrawing cash customers are given cheque. It is less costly than cash advance.

19. Card Cheque Issuance:For withdrawing cash customers are given cheque. It is less lastly than cash advance.

20. Card Cheque Activation:Cheque should be activated. Without activating cheque, it is not used

HOW TO SETTLE CARD ACCOUNT:

Account Transfer:If you are a Standard Chartered account holder, you can instruct us to debit your account by giving details on the Credit Card payment coupon. The payment slip can either be mailed to Standard Chartered Card Services or deposited in any of our branches.

Standing Instruction:If you are a Standard Chartered account holder, you can avail of our Standing Instruction (auto-debit) facility to settle your monthly Credit Card bill. This facility will enable us to debit your nominated account and credit the Card account on the payment due date.

Cash payments:Cash is accepted only at Standard Chartered branches during transaction hours. Please do not send cash by post.

Payments by cheque:Mail your cheques to Card Services or drop cheques at any of our branches. Make all cheques crossed and payable to Standard Chartered Card Services. Make sure you have written your full 16-digit Card number and your full name on the reverse of the cheque. Please send your cheque payment well in time to allow the cheque to be cleared before your payment due date.

Payment locations:Credit Card payments are accepted at all Standard Chartered branchesand ATM'S.

Make sure your Card payment covers at least the Minimum Amount Due as shown on your statement.

Ensure that if your payment due date falls on a Friday or a Public holiday your payment reaches us on the working day prior to the Bank holiday.

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If you are availing of the standing Instruction/auto debit facility, please ensure that sufficient fund is maintained in your nominated account on the payment due date for the facility to work through

CREDIT CARD AGREEMENT

DEFINITIONS:

"Bank" means Standard Chartered Bank. its successors and its assignees,

“Card Account” means the credit card account opened by the Bank for the purpose of entering all credits and debits received or incurred by the Primary Cardholder and the Supplementary/Additional Cardholder, if any, under these Terms and Conditions.

" means, as appropriate, a Visa Silver or MasterCard Silver or MasterCard Gold card issued by the Bank to the Cardholder and include Primary, Supplementary/ Additional and Replacement Cards.

"Cardholder" means an individual whose name is in a card account and who is responsible for all transactions and liabilities on the Card account. It includes Primary and any Supplementary Cardholder.

"Card Transaction" mean® the purchase of goods and/or services, benefits or reservations (including without limitations any reservation made by the Cardholder for air. ship, rail, motor or other transportation or hotel or other lodging or accommodation or other transportation, rented or hired, whether or not utilized by the Cardholder) and/or receiving Cash Advances by the use of the Card or the Card numbers or the PIN or in any other manner including without limitation mail, telephone or facsimile orders or reservations authorized or made by the Cardholder, regardless of whether sales slip or cash advance or other voucher or form is signed by the cardholder.

"Cash Advance" means any amount obtained by the use of the Card. the Card number or the PIN or in any manner authorized by the Cardholder from the bank or any other bank or financial institution for debit to the Card Account.

"Charges" means amount payable by the Cardholder arising from the use of the Card or the Card Number or the PIN or under these Terms and Conditions and includes without limitation all Card Transactions, Pees. Finance Charges, additional expenses, damages, legal costs and disbursements, which will be debited to the Card Account and form part of the Current Balance.

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"Credit Limit" means the maximum debit balance permitted by the Bank for the Card Account for the Primary and the Supplementary Card, if any, and notified to the Primary Cardholder from time to time,

"Current Balance" means the total debit balance (inclusive of all Charges) which shall be debited to the Card Account outstanding on the Card Account payable to the Bank according to the Bank's records on the date the Statement of Account is issued.

"Deposit" means the amount in cash placed with the Bank as specified by the Bank as security for the performance of the Cardholder's obligation.

"Electronic Banking Terminal" means any authorized terminal or device in which Card and/or PIN can be used- This includes ATM's, Point of Sales terminal through which Card Transactions can be performed or any other authorized terminal or device connected to Standard Chartered electronic banking system from time to time.

"Merchant" means any corporate entity, person or other establishment, supplying goods and/or services, which a Card Scheme Member Bank has approved and made arrangements to accept the Card or the Card numbers as a mode of payment or reservation by the Cardholder-

"Minimum Amount Due" is 5% of the Current Balance subject to a minimum of Tk. 500. which if paid toy the Payment Due Date will avoid any late payment charges.

"Payment Due Date" means the date specified in the Statement of Account by which date, payment of the Current Balance or any part thereof or the Minimum Amount Due is to be made to the Bank.

"PIN" means in relation to a Cardholder the Personal Identification Number issued to the Cardholder to enable the Card to be used at an ATM.

"Primary Cardholder" means a person other than a Supplementary Cardholder who is issued a Primary card and for whom the Card Account is first opened by the Bank.

"Security" means the Deposit.

"Statement of Account" means the Bank's monthly or other periodic statements sent to the Cardholder showing particulars of the Current Balance payable to the Bank.

"Supplementary/Additional/Add-on Card" means a Card issued by the Bank to a third party nominated by, and at the request of, the individual entering this Agreement with the Bank and in respect of which Card Transaction is to be recorded on the Card Account.

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Supplement/Additional/Add-on cardholder means the person who has been issued a Supplementary/Additional/ Add-on card.

"Over-limit Charge" is a charge levied once per Statement of Account, if the Cardholder exceeds his Credit Limit.

Working Profile:

Introduction:

During my three months of work experience with Standard Chartered Bank on my internship program, I was placed in the sales and Service centre at Sheraton branch. I joined the program in July 25 , 2006. This branch is the main Card Sales and Service Center of Standard Chartered Bank as a result I have gathered an important experience of handling a lot of customers in last three months.

Organization Structure of Card Service of SCB:

In this Card Service, the head of consumer banking holds the topmost position in the hierarchy, as the card service falls under the consumer banking. Then the head of cards holds the second position with 6 subordinate managers. Lastly, some officers are working under these managers. The internal communication among the Bank officials in this branch is supportive. Often, they have very informal discussion about different issues.Figure: Organizational Structure of Card Service Division

Source: Card Service Division

Description of My Task Areas:

In Standard Chartered Bank, my main task was to handle customer over phone regarding credit card &Debit Card, which helped me to gain practical experience on handling different type of customers with different types of problems. This has definitely enriched my practical experience and united to theoretical knowledge.

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Head of Consumer

Banking

Head of

Cards

Manager (Customer

Service)Manager (Acquiring) Manager (Operation) Manager (Sales)

Manager

(Collection)

Manager (Risk

Assessment)


Tasks I performed in Standard Chartered Bank, Sheraton Branch Online Customer Service for Credit Card &Debit Card:

With Credit Card &Debit card, one can obtain and deposit card payments and purchase goods and services 24 hours a day, 7 days a week, and 365 days a year. The ATM night and day service is used by the holders of VISA and Master Cards of Standard Chartered Bank. To access the credit card &Debit card a customer must have his or her confidential PIN (Personal Identification Number). So when the cardholder faces problem in using the CC, he or she calls to our call-centre and ask for the solution, and we try our level best to help the CC over phone.

Hands-on Experience:

It was a great learning experience for me to hear the problem and giving the solution to the CC over phone. The customers usually face lots of problems using their cards, as most of them are using their cards very frequently and they are not used to use their cards. Everyday I faced a lot of problems like card activation, authorization, lost card report, captured card in ATM, balance and payment enquiry, address change and a lot more and gave the solutions to the customers instantly. Handling customers over phone and convincing them with a right solution was really a great experience that will help me in near future regarding customer service.

Observation:

It is my personal observation that everyday a lot of customers call us to solve their problem and the customer feel very confident if we can provide the prompt and right solution. Sometimes they get angry when we fail to solve their problem. I have also seen that some of the customers are not very much cooperative with us. They try to make us more puzzles even though their problem is not that much complicated. Then as a new, I had taken the problem seriously and sometimes I had to take the help of my manager to solve that. So handling customers over phone is a bit challenging and I had many things to learn in the last three months.

Other Task Areas:

Delivering different types of forms regarding credit card and helping the customers to fill those forms. Preparing the credit card complaint sheet and card activation regularly.

Providing card numbers to the courier for sending the returned card, pin or other required documents.Giving authorization code to the merchants to complete the transaction.Giving advises to the customers regarding the proper use of the cc. Dispatch the posted letters and make them separated. Photocopy the important documents.

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Interaction with different levels of bank officials:

Except from the usual works I had interactions with the manager, officers and my colleagues.

Interaction with the Manager:

In last three months I had worked under the manager of customer service. In this time I attended in training with her and other officials and some lectures were given by the manager. Beside this many I had informal discussions with the manager regarding my problem in handling customers, how to improve my mistakes and also how I can do the best for my report. The manager was very much helpful regarding my problems and other situations.

Interaction with the officers:

One of the important tasks of the officers is to give some manual inputs into the main system regarding the transaction of the credit card. I used to give the card lists and the complaints of the customers regarding the transaction. Overall they helped me to make my everyday life easier.

Interaction with Colleagues:

Under the direction of managers, and officers of card service, my colleagues and I used to handle customer complaints and provide necessary solutions over phone log the problems in complaint sheet and provide other service regarding cards.

Challenges of work:

Standard Chartered Bank being an International Bank has a very friendly and helpful working environment. Being an intern the most challenging work for me was to perform my daily job properly. I had to be very sincere and alert while serving customer as any mistake done by me could do a great harm to the bank and its reputation. The work environment at Standard Chartered Bank always provided me with challenge to improve my performance everyday. I was trained to interact with sophisticated customers and to follow bank’s procedures accordingly.

Learning Experience:

I have learned that when the internal communication is effective among the employees within the organization, it tends to encourage employees to perform better and it automatically motivates the employees.

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I learned the importance of detailed data to be gathered from customer while opening a credit card. The validity and the accuracy of the details given offer help the bank in providing fast service.

I also learned about the latest payment system or about the credit card, which is a great knowledge for my near future.

I learned to work in a group and how to contribute positively to the objective of the group. Standard Chartered has a practice of teamwork in almost each of its specific task. Working in different groups in different time helped me improve my communication skill.

Interacting with customers and the techniques applied to deal customers over phone also helped me improve my communication skill.

I learned that customers satisfaction is very important for the proper doing business, especially which is customer related.

I learned that the perception and knowledge I gained from my Business School is of extreme importance. It made me confident, knowledgeable and open-minded to new ideas and situation. This may be the reason that I found no problem to work in an absorbing work environment of Standard Chartered Bank.

Findings:To get the customers’ perception , here we will analyze the findings of some relevant questions groups from the developed questionnaire .

To find the customers’ perception about their level of satisfaction, here we will analyze the findings that we got from the survey. As we know that SCB is the fastest growing bank in credit card sector of Bangladesh with huge number of credit cardholders, the issue of customer satisfaction is very prominent here and it differs man to man.

Proper knowledge about a product is also very important in order to use it in right way,. Especially when the product is a bit sophisticated like “credit card” and somewhat new to Bangladesh, customers’ satisfaction varies. As it is not that much old here, it is natural that the people’s knowledge on this “credit card” is not that much high. On the other hand some terms, ways of calculating interest rates – are a bit complicated. That’s why the proper knowledge about the credit cards’ features and benefits is very important. It is true that when the customers will be acquainted with the different features and benefits of the credit cards they will be more satisfied in using credit cards and the overall satisfaction level will be high.

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Satisfaction through 24 – hours customer service:

The main aim of introducing 24–hour customer service is to gain the overall satisfaction of the customers. To identify the level of satisfaction here we will analyze different aspects of customers’ activities and their opinions.

Important Findings:

To know the overall satisfaction level here we need to recognize the different types of queries that the most customers do in this bank.

The graph below shows that the customers mostly do balance query (43.80%), then card related query (27.50%), which are mostly lost, replacement did not get these types of problems. On the other hand, 26.30% customers do the statement, interest and charge related queries and 2.50% customers do the address change over telephone with the help of the CSAs.

Figure: Customers’ most frequent query in new 24 – hour’s customer service

Source: Primary source

Analysis:

From the findings above we can say that customers mainly inquire their problems that they face most frequently. As they call here mostly with their problems, which are not favorable or not expectable to them. So it is very important for the bank to provide that information or solve their problems, as the customers want to make them satisfaction.

Customer perception about the prospect of 24-hour customer service :

Important Findings:

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From the survey it is clear that the customers are very much hopeful about the overall prospects of the 24 – hour customer service. When they were asked to give their opinion about the satisfaction that the bank can give them after launching 24 – hours customer service most of them (55.00%) replied that the bank can make them somewhat satisfied (Appendix- B; Table – 7). Somewhat because from their point of view not only 24 – hrs service can make them satisfied but the bank should look for the quality of the service.

On the other hand, 43.8% customers believe that through 24 – hrs customer service the bank can make them extremely satisfied. Here one person is in neutral position.

Analysis:

So we can easily understand and realize that the future prospect of this 24 – hrs customers’ service is very bright and appreciating. But here we have to be cautious that most of the customers are hoping that his system is currently leading them towards somewhat satisfaction. From the marketing point of view these somewhat dissatisfied customers can be turned in to extremely satisfied customer if the service and quality of this service is well managed, which also reflects the views of these customers.

Satisfaction before and after 24 – hrs customer service in different issues: Only one positive information about overall customer satisfaction before and after 24 – hrs customer service does not totally means that the customer satisfaction is high. To find out the overall customer satisfaction it is very important to get the customers’ view in different issues, which are important to get the overall view of customer satisfaction.According to report objectives to get the overall customer satisfaction here the worked with seven different issues, those are:

Adequate time provided to know problemsRight info. ProvidedBehavioral attitude of CSAsProblem solving durationCall waiting durationLearning level (Are customers learning or informed more?)Knowledge and professionalism of the staff.

All the above issues discussed in the view of “before” and “after” 24 – customer services. Here we have to remember that all these seven issues can also be known as the different features and benefits of the credit card, which are very important to increase the overall satisfaction level of the customers.

Important findings:

From the survey it can be found that the overall customer satisfaction level became high than the very past in case of “providing adequate time provided to know the

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problems by the service providers”. Before most (55%) customers were somewhat dissatisfied, 26.30% customers were extremely dissatisfied and rests were neutral. Again after 24 – hrs customer service most of the customers (76.30%) are somewhat satisfied, 20.00% are neutral and rests are somewhat dissatisfied.

Now another issue of “right information provided by the service provider” is considered, it can be found that before 24 – hrs customer service most of the customers (46.30%) were neutral, then 32.5% customers were somewhat satisfied and the rests were somewhat dissatisfied.

After the 24 – hrs customer service most of the customers (62.5%) are somewhat satisfied, 31.30% are extremely satisfied, 5.0% customers are neutral and 1.3% customers are somewhat dissatisfied.

If the issue on “service personnel’s behavioral attitude” is considered it can be found ) that before the 24 – hrs customer service most of the customers (48.80%) were somewhat satisfied with the service providers’ behavioral attitude. 40.00% customers were in neutral position and only 11.3% customers were somewhat dissatisfied.

On the other hand, after the 24 – hrs customer service most customers (60.00%) are somewhat satisfied with the CSA’s behavioral attitudes. Again 25.00% customers are extremely satisfied with their attitudes, 12.50% are in neutral and rests are somewhat dissatisfied.

Now if the consideration is given to the issue on “problem solving duration” it can be found that before 24 – hrs customer service most of the customers (67.50%) were somewhat dissatisfied, 16.30% were neutral and 15.00% customers were extremely dissatisfied and the rest 1.3% customers were somewhat satisfied.

Again after the 24 – customer service we could find that most of the customers are either somewhat dissatisfied or neutral. Now 16.3% customers are somewhat satisfied and rests are extremely dissatisfied with the problem solving duration.

From the survey it also can be found that in case of call waiting duration the overall customer satisfaction level of the customer service was the very different from the present. Before the 24- hrs customer service most of the customers (57.50%) were somewhat dissatisfied, 26.30% customers were extremely dissatisfied, 13.80% customers were in neutral position, 1.30% customers were somewhat satisfied and the rests were extremely satisfied.

On the other hand, after the 24 – hrs customer most of the customers (38.80%) are in the neutral position, 36.30% customers are somewhat dissatisfied, 18.80% customers are somewhat satisfied. Again 3.8% customers are extremely dissatisfied and a few are extremely satisfied with the call waiting duration while they call to the Call Centre.

In case of “learning level of the customers about their credit cards” from the survey it can be found that before the 24-hrs customer service most of the customers (47.5%) were in neutral position. Among the rest 42.5% were somewhat dissatisfied, 7.5%

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were somewhat satisfied and 2.5% customers were extremely dissatisfied with their level of knowledge about their credit cards.

On the other hand, after the 24-hrs customer service, most of the customers (53.80%) are somewhat satisfied with their learning level about their credit cards. Again 36.3% customers are in neutral position, 6.3% are extremely satisfied, and 3.8% customers are extremely dissatisfied.

In the issue of overall customer satisfaction level on “knowledge and professionalism of the staff” from the survey it can be found that before 24 – hrs customer service most of the customers (50.00%) were in neutral position, 41.30% customers were somewhat satisfied and 8.8% customers were somewhat dissatisfied.

But after the 24-hrs customer service the most of the customers (83.80%) are somewhat satisfied with the staffs’ professionalism, then 10.00% customers are in neutral position and 6.30% customers are extremely satisfied with the professionalism and knowledge of the staff.

Different benefits provided by 24-hrs customer service:

Important findings:

From the survey the name of different advantages of 24 – hrs customer service has come out.

Figure : Different problems that customers not face now or benefit that they are having now

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From the above graph we can easily find that most of the customers (37.50%) expressed that they can save their time now, 20.00% customers told that they can call instantly now, 17.50% customers told that they now face no more complicated problems, 10% customers found no difference between the past and now, 10% customers can do more balance queries and other 5% customers told that knowing more they can pay less.

Analysis:

We got some very interesting findings from the survey. From these findings we can that, most of the experiences that the customers are experiencing now are very much appreciable. In the past, for limited phones and time people had to wait enough to solve their problems. But now they can call from anywhere any time by land phone or mobile, which was totally impossible before launching 24 – hrs customer service.

That’s why most customer are experiencing that they can save their time and call instantly now. As the customers can call instantly, they also solve their problems quite instantly and now after 24-hrs customer service they discovered that they have less complicated problems than the past. Because of the increased time and opportunity the balance query facilities lots of customers are happy with the 24-hrs customer service and they are experiencing better than before.

More interestingly it was also found that people are paying less as their level of knowledge about the credit card increased than the past . Therefore, the customers are well known about their payment date, interests and other fees. So, the customers can also save money by well utilizing the 24 – hrs customer service facility, which could not possible before 24-hrs customer service.

Customers’ perception on essentiality of 24-hrs customer service:

Important findings:

From the survey it is founded that 24 – hrs customer is very essential for the credit cardholders. The graph below shows that 80.00% valued customers viewed this 24-hrs customer service as very essential for every cardholder. Again 20.00% valued customers viewed the 24 – hrs customer service is somewhat essential for the cardholders. Here we found the only positive response from the customers.

Figure: Customers’ perception on essentiality of 24-hrs customer service

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Source: Primary sourceAnalysis:

To handle a product like credit card different problems may arise any time and solving that problem is need to be immediate to access with the card properly. There is a prestige issue involve with it. If a cardholder faces a problem with the card in a shop, obviously he will feel humiliate. Not only this everyone wants to solve any problem as soon as possible.

By availing the opportunity of 24-hrs customer service one can easily solve their problems. That’s why this 24-hrs customer service is getting popularity and this survey proves that it is very essential for the cardholders and most of the want it.

From the above discussion we can easily say that the overall customer satisfaction became higher and all kinds of queries became easier after launching 24-hrs customer service.

Credit card & Debit card is such type of product that is very much related with the everyday life. Our life has become so fast that we are bound to do everything very quickly. The situational conditions are also deteriorating very fast. In Bangladesh for the extreme deteriorations of low and order, most of us are now living in fear of being hijacking etc.

By the plastic credit card, we are now able to keep thousands of money with us. So, it gives us security and helps to live a better life. That’s why now a day, these cards became a very essential for our life. With the credit card we usually purchase our daily necessary things. But purchasing of necessary things is very much depends on the buying power and buying behavior of the consumers. So, consumers’ lifestyle is important for the credit card & Debit card.

Occupation, age and credit card & Debit card: Important findings:Income source is very important for having credit cards. From the graph below we can get a clear idea about what type of people have credit cards. Most of them (53.80%) are service holders and then comes the businessmen (31.30%) and bankers (15.00%). Figure: Occupation of credit cardholders

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On the other hand, it is found that most of the customers (40.00%) are age of 31 to 35 and (39.9%) age of 36 to 40. Again we also found that 8.80% customers are age of 25 – 30, 6.30% customers are age of 41 – 45 and 5.00% are age of 46 – 50 years.

Time of calling in Call Centre and life style:

Important findings:We know that customers’ lifestyle differs according to their occupation, age and background and it results their different pattern of selection of their credit cards.

Figure: Time of calling of credit cardholders


From the above graph we can see that most customers (42.50%) call at Call Centre for information from 11am to 3pm and the second highest time of calling are 7am to 11om and 3pm to 7pm (21.30% each). And 10% customers all here from 7pm to 11pm and rest 5% call here from 11pm to 3am.

Analysis:

In day-to-day life every body is very busy with their own work. Some are too much some are not that much busy. The calls that everyday come at Call Centre from different types of people.

The survey found that most of the businessmen (32.00%) call at very early morning (7am to 11am). Then the second highest percent businessmen (28.00%) call here at evening (7pm to 11pm). Here we can find some businessmen (16%) also ring from (11pm to 3am).

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In case of service holders or other occupational people we find that most of them call here mostly at the daytime. After the office time we get very little call coming from the service people. From all the 80 people only 4 people call from 11pm to 3am and all of these peoples are businessmen – it proves that the different life styles changes the overall perception of card services. Actually it is very natural that service people’s lifestyle is different from the business people. For that we can see that inflection in their calling time at Call Centre.

Discussion:

From the findings and analysis about the lifestyle pattern of the cardholders and their purchasing pattern including selecting credit card, we can say that nothing is beyond the life. Everybody have his or her own way of living according to his or her ability. We have to understand that every body’s core believes reflects in his selecting card. So we can say that “Consumer life style influence their buying behavior and ultimately it reflects on their perception on credit card”- is a right proposition.

Findings:

In these modern days there is no alternative of proper communication. Being a multinational organization this SCB is renowned in this country for their structured and modern communication system.

The overall satisfaction of the credit cardholders is also depends on the internal and external communication system. It is obvious that the internal communication system should be good for smooth operation of the bank service. But as the 24 – customer service was introduced based on the telephone. Here most of the customers call using either T & T or mobile. So this main base of communication is directly responsible for all kind of customer satisfaction.

Trouble over telephone:

Important findings:

From the survey it is sharply clear that most of the customers are facing troubles when they try to call at Call Centre over T & T telephones. If we take a look on different findings we can easily understand that.Figure: Problems faced over telephone

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Source: Primary sourceFrom the graph above we can easily notify that reality that is remain in the Cal Centre with the one mostly used communication medium. Here we found that most of the customers (82.50%) have experienced problems with the telephone. And only 17.50% customers answered that they did not face that much problem talking over the telephone.

In the issue of increase of total number of the existing telephone from the survey we found that most of the customers are in favor of increase the lines. From the graph below we easily find that 83.80 % of the customers think that it is extremely needed to increase the numbers of the phone lines, 15.00% customers thinks that it is somewhat needed and very low 1.30% customers think that it is neither needed nor unneeded. They are in neutral position.

Figure: Needs of telephones


Analysis:

The above findings on telephone issue are very disappointing. But by doing a clear analysis we can easily find out the various reasons behind it. From survey it also can be understood why this is happening. From the following graph we can realize and know different reasons behind it.

Discussion:

From the findings and further analysis it is clear that telephone as proper communication is very important in 24 – hrs customer service. Overall customers satisfaction is very much depending on it. But the satisfaction on the call waiting duration is not satisfactory up to the level. For that we did not find here that much

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difference before and after customer service is this issue. As a result most of the customers told to increase the number of phones.

So, we can say that “Proper medium of communication is the prerequisite to satisfy the customers where the customer satisfaction mostly depends on it” – is a right and valid proposition.

Findings:

As the benefits of the credit card are huge, especially it provides security; the total number of cardholders is increasing day by day. But to give the optimum service to the cardholders, it is very important to know who are the real beneficiaries of the service.

Since the 24-hrs customers service is new, if SCB can identify these segments they can improve their service better and satisfy the overall potential customers. Therefore, in this section of report the intern tried to find out this reality.

Important findings: From the survey it is clear that the response came from all over the customers and they shared their views of beneficiaries groups for the 24 – hrs service of the credit card division of SCB devoted to the customers. Form the graph below we can easily say that there are different beneficiary groups of customers who are being benefited tremendously by the launching of 24 – hrs customer service.

Figure: Benefited customers


From the graph we can say that most of the customers expressed that (48.80%) the 24 – hrs customer service will be benefited for all kind of customers. The second highest percentage of customers told that (27.50%) the businessmen would be the number one in the beneficiary group.

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Here other types of responses can also be seen. 11.30% customers admitted that the people who work outside would be more beneficial. 10.00% customers told that the people who remain busy too much would be helpful by this 24 – hrs customer service and the rest told that the people who need information frequently would be the most beneficiary group. Analysis: From the findings it is clear that the actual beneficiary of the 24 – hrs customers service is not only the one group. As we found that the most responses are on the side of “all kind of customers are getting benefited by this 24 – hrs customer service”, we can definitely say that the as per the proposition “only businessmen are not beneficiary group”.

It is found that 48.00% businessmen, 46.50% service holders and 58.30% bankers agreed that the 24 – hrs service is open to all the customers (Appendix – B; Table –11). On the other hand, 8.00% businessmen and 16.30% service holders are in favor of the people who remain outside at the daytime. Again 14.00% service holders and 16.70% banker are in favor of the people who are too busy.

But it is not necessary that who remain outside for that work and remain too busy, is a businessmen. So, they can be general service holders or other occupational people.

Actually the bank has introduced the 24-hrs customer service for the benefit of all of its customers. It is true that for the busy life and way of living the businessmen are one important group who are having the 24 – hrs customer service benefit. But they are definitely not the only beneficiary group. Discussion: From the chapter two we came to know about the common mission of the SCB, which is to generate the overall satisfaction level of the all customers. From the above findings and analysis we can also find that it somewhat matches with the general peoples’ view.

Therefore, from these findings and data analysis we find that under which proposition these findings were found is properly valid, as from the data analysis we found that it is all kinds of customers who are getting benefit out of the 24 – hrs customer service, not mainly the businessmen.

So, we can say that the proposition “24 – hours customer service is mainly benefited to the businessman” – is not a valid proposition or we can say it is a null proposition.

Findings:

In a very simply way we can say that business in nothing but dealings with the customers. Now a day, the concept of production or selling has changed and the concept of marketing and customer came to do business with the social point of view.

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Now the concept of after sales service is important for doing business. As the card division of SCB came up with their cards, it is their product. From our past knowledge we can say that credit cards are such types of products where we cannot differentiate the after selling service from its main only purchase service. As it is a continuous process, the care with the customers’ suggestion is more important that any other business.

Customers’ suggestions:

Important findings: From the survey we can get a good number of suggestions from the responses. From the graph below we came to know that 27.50% customers think that the problems should be solved immediately, 26.30% customers are in favor of increase the capacity of handling customers in the daytime, 16.30% want to improve the service of the currier, 8.80% told that the processing system should be improved, 5.0% customers emphasized on keeping the information properly, 3.80% customers told about the wrong update, the staffs and the correct information properly and 2.5% people told about the regular update and the system error .

Figure 8.9: Customers’ suggestions to improve 24 – customer service


Analysis:

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From the findings we can get valuable suggestion offered by the customers to improve the 24-hrs customers service. Actually if we think a bit deep we could find that these huge suggestion are nothing but the negative experiences that the customers of the credit card division experienced and now they want to get rid of it.

Here we can find that the cardholder have two different types of needs – one type of need is they do not want to be happened and other type of need that they want to be happened. In the suggestion figure (8.9) we find the some of the suggestions are those that they want and some are those that they do not want.

From the previous discussion we came to know that before 24 – hrs customer service the main reason for dissatisfaction was due to lack of queries. Now if we see the relation between those peoples’ reasons and what they have replied or suggest here we can find that, most of them suggest solving their problems immediately (33.3%) and increasing the capacity of service (27.80%). Who told about lack of time they were dissatisfied they also they also emphasized here to serve them more quickly (27.60%) and increase the people (24.10%).

As the Gold cardholders also call here at off pick hours they have given their suggestion to do prompt service but the but most Visa and Master cardholders told to increase man power so that they get uninterrupted service at Call Centre.

So, here we found that there is a close relationship among every suggestion that the valuable customers provided here. As these suggestions can be treated as their needs, if these needs can be solved or fulfilled the overall customer satisfaction will become high.

And if the customers’ satisfaction becomes high the sells of cards and the competitive advantages will be high. Therefore, it will result the high profit. From the history of SCB we say that credit card division of this bank has experienced tremendous success in the Bangladesh market. From the all profit about 40% came from this sector.

All of this was possible due to a good post – purchase customer service of the credit card. To hold it there is no alternative to carefully implement of the suggestions that the customers are facing recently.

Discussion:

From all the above findings and fruitful analysis we can simply say can without customer nothing is there is business and to make profit in business, especially in service business customers’ needs should be identified and solved.

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And the way of doing this thing is listen their suggestions and opinions. So, we can definitely come to the conclusion that “Customers’ suggestions reflect their needs and help to make profit in the business”. Therefore, this is valid one.

SOWT analysis for Credit Card SCB:

Important findings:

If we do a SWOT analysis for credit card of SCB we can find the following outcomes:

StrengthConvenient way of payment for purchaseMaximum of 45 days free credit periodFlexible and easy repayment optionsCredit can be used in over 3000 retail and service outlets around the country.50% cash advances of the credit limit from 25 ATMs, 24 hours a day or from any sales and service center of the bank during office hour.No need to carry cash anymore.24 hours customer service over phone.One lifetime free supplementary card.Minimum 7% discounts in good restaurants in Dhaka, Chittagong and Shylet.Paying credit card bill through ATM machines.

WWEAKNESSEAKNESS Interrupted telephone lines.Lime of solving problems.Weak currier service.Telling several problems to many CSAs.Busy telephone lines.More people are needed.Some DSAs provide wrong information.

Opportunity: Brand loyal credit card in Bangladesh.Huge potential market.GDP is increasing gradually.Enthusiasm of general people about Dollar Credit Card.Dedicating employees.Well response about 24 – hour Customer Service.Huge potential Merchants.

Threats:Existing competitors.Low interest for the merchants by the competitors.In some cases their good service.

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Analysis: From the above SWOT analysis we can say that the strengths of the SCB’s credit card is quite good and satisfactory. Here we got a good number of internal strengths of SCB’s card division. The main thing is that, SCB have to take care to hold on these strengths.

But in the same time we can find some internal weakness, which have to be given most importance by the authority. These weaknesses were came out though the survey and were mostly experiences by the most of the cardholders. These weaknesses of card service of SCB’s are the main reason for dissatisfying of the customers about the overall card service.

Not only the internal, but externally card division of SCB’s has some facilities, which we can call its opportunities of this bank in this sector. The overall opportunities are also good for card in Bangladesh. Especially the international card is expected to come with huge potential customers here.

At last we can also find some external threats, which came from the competitors of the SCB. We can find that the main competitors of SCB are the National Bank, Prime Bank etc. From the observation we also found that sometime the customers compare this bank with these competitor bank in different issues.

Therefore, to be in the card market in Bangladesh, SCB should hold the strengths, overcome the weaknesses, make the opportunities in reality and be aware of threats.

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The following sets of documents & instructions will form an integral part of opening an Account / relationships as per the revised KYC standards;

Personal Accounts

A/C opening form duly completed & signed by the a/c holder and introduced by an existing customer who has a relationship with us at least for 6 months.Photograph/s of the signatory/ies / account holders duly attested by the introducer. Nominee form duly signed by both the account holder & the nominee and the photograph (1 copy) of the nominee is to be attested by the a/c holder.Proof of Identity; Original Passport/Driving License/Photo ID sighted & photocopy obtained (Photocopies of documents must be certified as “Original seen”)Documented proof of address verification to be retained with the mandate. This is also applicable for; For minor accounts, identity evidence of the adult operating the account

together with the copy of the birth certificate or passport of the minor. For accounts operated by Power of Attorney holder, identity evidence for

account holder and the power of attorney holder. For students, evidence of identity and address verification must be

obtained but failing to do so, these can be done through a parent or the prospective customer’s college or university.

To open an account when the person not being present personally i.e. in a non-face to face scenario is to obtain at least one additional form of evidence (e.g. copy of utility bills/bank statements/tax clearance certificate/home visit) over and above what would have been obtained in the corresponding face to face situation.

Local Legal & Compliance should be consulted, in case of doubt on the acceptable identification evidence for a particular customer type.

Sole Proprietorship Accounts:

A/C opening form duly completed & signed by the a/c holder and introduced by an existing customer who has a relationship with us at least for 6 months.Photograph/s of the signatory/ies / account holders duly attested by the introducer.‘Sole proprietorship declaration form’ duly signed by the account holder.Copy of valid Trade License (Photocopy of document must be certified as “Original seen/sighted”)

Account Opening documents and instructions

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Proof of Identity; Original Passport/Driving License/Photo ID sighted & photocopy obtained (Photocopies of all documents must be certified as “Original seen/sighted”)Documented proof of address verification to be retained with the mandate. This is also applicable for; For accounts operated by Power of Attorney / authority holder, identity

evidence for account holder and the power of attorney /authority holder. To open an account when the person not being present personally i.e. in a

non-face to face scenario is to obtain at least one additional form of evidence (e.g. copy of utility bills/bank statements/tax clearance certificate/employer letter/home visit) over and above what would have been obtained in the corresponding face to face situation.


Registered Partnership:

Completed Account opening Form signed by the partners and introduced by an existing customer who has a relationship with us at least for 6 months.Resolution or Extract of Resolution for opening the Account and Authorization for its operation duly certified by The Managing Partner or as stated in the partnership deed.Copy of valid trade license (Photocopy of document must be certified as “Original seen/sighted”).Certified copy of partnership deed. List of partners with their present & permanent address.Photograph/s of the signatory/ies / account holders duly attested by the introducer who has a relationship with us at least for 6 months.Proof of Identity; Original Passport/Driving License/Photo ID sighted & photocopy obtained (Photocopies of all documents must be certified as “Original seen/sighted”)Documented proof of address verification to be retained with the mandate. This is also applicable for; For accounts operated by Power of Attorney / authority holder, identity

evidence for account holder and the power of attorney / authority holder

To open an account when the person not being present personally i.e. in a non-face to face scenario is to obtain at least one additional form of evidence (e.g. copy of utility bills/bank statements/tax

Limited Liability Company:

Completed Account opening Form signed by the account holders and introduced by an existing customer who has a relationship with us at least for 6 months.

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Resolution or Extract of Resolution for opening the Account and Authorization for its operation should be certified as stated in the Articles of Association or by The Chairperson.Attested photocopies of Memorandum & Articles of Association of the company and to be counter vetted by RM / BSSM (with updated amendments, if any).Certificate of Incorporation.Copy of valid Trade License (Photocopy of document must be certified as “Original seen/sighted”).List of Directors with their addresses.Photograph/s of the signatory/ies / account holders duly attested by the introducer. Certificate of Commencement of business (in case of Public Limited Company).Copy of Certificate of Chief Controller of Insurance (only in case of Insurance Companies).Proof of Identity; Original Passport/Driving License/Photo ID sighted & photocopy obtained (Photocopies of all documents must be certified as “Original seen/sighted”).Documented proof of address verification to be retained with the mandate. This is also applicable for; For accounts operated by Power of Attorney / authority holder, identity

evidence for account holder and the power of attorney / authority holder. To open an account when the person not being present personally i.e. in a

non-face to face scenario is to obtain at least one additional form of evidence (e.g. copy of utility bills/bank statements/tax clearance certificate/employer letter/home visit) over and above what would have been obtained in the corresponding face to face situation.


Charges and fees:

Different types of charges and fees are applicable for different types of account. For access and graduate account holder the charges are lower than current, savings, EVSA and priority account. Account opening balance of different accounts is also different.

Those are:

For Graduate account, opening balance is Tk 10000 For Access account, opening balance is Tk 20000For Savings account, opening balance is Tk 200000For Current account, opening balance is Tk 50000For EVSA, opening balance is Tk 300000

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The charges and fees of different account are given below:

Name of the account

Minimum average balance fee

Account maintenance fee (yearly)

Transaction fee (from 8th tsn onward)

Counter transaction fee (per transaction)

Monthly minimum balance fee

Closing accounts

Graduate

Free Free ------------ Tk 50* Free Tk 500

Access Free Free ------------ Tk 50* Free Tk 500Savings Free Tk 1000 Free Tk 10** Free Tk 500current Free Tk 1000 Free Tk 10** Free Tk 500Evsa Free Tk 1000 Free Tk 10** Free Tk 500

Charges and fees of different accounts

* If ATM or debit card is out of work.** If average balance is below the minimum average balance.

Know Your Customer (KYC):

After submitting the above mentioned documents and the instructions properly any one can open an account with SCB. Personal Financial Consultant (PFC) will receive those documents from that person. If all the submitted documents are perfect than he/ she (or the authorized person) will start to fill up the KYC form. The KYC form includes the following:

Full account titleBranch nameKinds of account and account numberIdentity documents of the account holderOccupation or nature of businessPosition holdName of the employerDate of birthNationality Resident and permanent addressStatus verificationName, date of birth, and nationality verificationAddress verificationPurpose of accountSources of fundOther bank detailsTransaction profileInformation for level 3 customerSeal and sign of sales agent/ stuff and branch manager or authorized person and

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Risk assessment

In terms of risk assessment bank follows the following procedure and measure the risk level.

Risk assessment:

Risk Level Nationality Resident Beneficial owner

Purpose of the acc:

Source of funds

Source of Wealth

Level 3Level 2

Level 1

Nature of Business

Business Countries Conducted

Largest single Txn

Public Figure & Associates

Cumulative Value deposit

Cumulative Value Withdrawals

Other Bankers

Risk Indicators:

Nationality: Level 3 = High risk Countries* Level 2 = Chinese, Thailand, Syrian. Level 1 = All Others Countries.

Residency: Level 3 = All non-resident ‘High Risk Countries*. Level 2 = Resident but not salaried Level 1 = Salaried resident Beneficial Owner: Level 3 = If customer is an agent for non-resident be. owner Level 2 = If customer is acting for resident beneficial owner Level 1 = If customer is actual owner

Purpose of the account: Level 3 = Clearing / Collection / Remittance Level 2 = Business/Transactional account Level 1 = Savings

Nature of Business: Level 3 = Risky account** Level 2 = Business accounts in textiles, cosmetics. Level 1 = The rest

Source of funds/ Source of Wealth/ Countries doing business with

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Level 3 = funds earning from high risk countries Level 2 = Funds earning from European countries and North America Level 1 = Level 1 values from the rest.

Largest single transaction: For personal accounts; Level 3 = Equal to or more than BDT 1million. Level 2 = More than BDT 500K but less than BDT 1Million . Level 1 = Less than or equal to BDT 500K. Cumulative Value Withdrawal & Deposit:For personal accounts; Level 3 = Equal to or more than BDT 1million. Level 2 = More than BDT 500K but less than BDT 1Million Level 1 = Less than or equal to BDT 500K.

Other/Previous Bankers: . Level 3 = Previous relationships with small independent banks Level 2 = All other small banks in other countries. Level 1 = Well known banks in major countries. Public Figure & Associates (PFAS):

Irrespective of all other indicators, all relationships involving ‘Public Figure & Associates’ (includes; senior politicians, bureaucrats, technocrats, defense personnel, judges, armed forces, law enforcing agencies) and their immediate family & dependants must be graded at level 3.

* Myanmar (Burma), Nigeria, Indonesia, Ukraine, Guatemala, Philippines, Egypt, Cook Islands, St Vincent & the Grenadines, Russia, Angola, Zimbabwe, Afghanistan, Cuba, Iraq, Libya, Azerbaijan, Moldova, Kazakhstan, Georgia, Uzbekistan, Belarus, Armenia, Kyrgyzstan, Tajikistan, Turkmenistan

** Business accounts in Gold, Jewelry, Gambling, Defense, Exchange House, Courier Company, Machine Parts, Man Power, Hotel & Restaurants and any other cash intensive business.

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Customers come to the customer service department of SCB’s branches to solve different types of problems, queries, account opening and for loan purpose. From those most of the problems are solved immediately and some of them are takes time to solve. Some customers are dissatisfied and some of them become angry. The major problems and complains of the customers are:

At the time of changing address, telephone number and signature.Increasing the charge of credit card and double charge.Valid ID required for any service.Captured card and extra charge for counter transactionAuto renewal or replacement card.Cheque book request (if req. sleep is lost and not have TIN)Identifying the right counter.Use of call centreLong queue at branch, credit card, and bills pay machine.Dissatisfaction on withdrawal limit

Changing address, telephone number and signature:

If a customer changed his/ her mailing address/ telephone number/ signature than the customer has to inform it to the bank. He or she has to come to the branch and fill-up the credit card address change Form properly and should submit it to CSO with a valid photo ID and a photo. The CSO will send the form to account service after verifying the customer’s signatures and submitted form. It takes three working days to update the desired service, but the problem is that if the customer has no valid photo ID. Than the customer has to submit reference letter from specific person required by bank.

Most of the cases reference letter was not issued perfectly or mentioning the required information. That time the customer has to suffer much. On the other hand if the customer did not submit photo or did not sign on form than he/she has to come again to the branch..

Sometimes a customer has to come three or four times to the branch if he/ she want to get card service. Some of them becomes angry and wants to close account. Before that rules customer can easily change address only by signing a sleep and sending it to branch which was attached to the statement.

Valid ID required for any kind of service:

Problems and Complains of the Customers

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Valid photo ID is required for any kinds of service (without I-banking) if the customer wants to get from the branch. Most of the cases the customer had no photo ID with them or some of them don’t have any photo ID. That time the customers have to come to the branch again with valid photo ID or should manage the reference letter which is time consuming for the customers.

Cheque book request (if req. sleep is lost and not have TIN):

Customer has to submit the cheque book requisition sleep to SA for another book, or the customer can request to call centre by using the TIN, those are the normal process of cheque book request. If the customer had lost the cheque book requisition sleep or did not have TIN than that would be a great problem for them.

Identifying the right counter:

In some cases customer doesn’t identify the right counter. It is found that a customer waits more than an hour in credit cards queues but he/ she wants the service about debit card which can get within a minute.

Use of call centre:

It is true that call centre provides 24 hour service to the customer, but most of the customers are not aware of that service. The people who know about the services many of them don’t know how to use the call centre. All of them want to talk with the CSR without hearing the IVR. First time all customers become impatient by listening the IVR and again come to the branch to know about the service of call centre and how to use it.

Long queue at branch, credit card, and bills pay machine:

There are always (especially in office hour) a long queue at branch and bills pay machine. Sometime customers become impatient after waiting for a long time. The reasons of the queues are large number of customer and a little number of branches and counters.

Conclusion and recommends:77


Foreign commercial banks, especially the Standard Chartered Group has played a vital role in the banking industry of Bangladesh in terms of the technology it uses, the products and services it offers, the quality staffs it employs, etc. Standard Chartered bank has a great potential market in the future. It is on the verge of introducing new products and services and challenging other foreign banks as well as the local private banks. Working Capital Finance, Cash Management, Mobile Banking, 24-hour ATM Access, 24-hour Call Centre Access, Speed Cheque Deposit, etc. are some of the products and services of Standard Chartered that really puts it ahead of competition. From this point of view Standard Chartered Bank has the competitive advantage with longer experience, technology and image in credit card. But in future it will face immense competition from other banks as they are constantly copying Standard Chartered’s products and services and on the other hand offering higher interest rates to the customers as well as charging their customers lower than Standard Chartered. .Since the customers with growing relationship are of major concern, the bank has to plan to gain the competitive advantage in customer service specially in credit cards. Experience, technology and image can only bring in customer to the bank but are not sufficient to retain them. Customer retention is most important in this regard and is increasingly becoming difficult in the banking industry. As far as its competitors are concerned, some are doing very well in customer service. To provide better service to its customer or to get customers full satisfaction, the officials at Shared Distribution of Standard Chartered Bank should carefully consider the following things:

Should be more careful at the time of receiving complete account service credit card application form from the customers so that, the customers should not need to come again for that service.It would be convenient for the customers if the annual charge of d credit card increased gradually or after proper informing them.Charge should be convenient.At the time of delivering PIN to the customer the bank officials should inform the customers about its use and how to use the call centre.Customers should encourage to use IVR rather than CSR, to get the credit card information.Card replacement time should not be less of time.Customer can easily reach the right counter if all the counter is named properly.

BIBLIOGRAPHY

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“MODERN MONEY AND BANKING”, Roger Leroy Miller & David D. Vanhoose, 3rd Edition.

“WHAT A BANKER DOES?”, Abul Hashem, 1ST Edition.

“LAW & PRACTICE OF BANKING”, Prof. Sohrab R. Davar, 16th Edition.

“BANKING LAW & PRACTICE IN INDIA”, M. L. Tannan, 18th Edition.

“A TEXTBOOK ON BANKER’S ADVANCES”, L. R. Chowdhury, 2nd Edition. “FOREIGN EXCHANGE PRINCIPLES & PRACTICE”, K. K. Andley, 6th Edition.

“THE BANKER’S ALMANAC”, January 1998, Volume – 2.“Banking Theory and Practice.” ,K. C. Shekhar & Lekshmy Shekhar,18th revised edition.. “Marketing Management”, Philip Kotler, 10th edition“Consumer Banking Curriculum”,Standard Chartered Bank - MESA www.bangladesh-bank.org

www.standardchartered.com/bd/

www.financialexpress-bd.com

www.betelco.com/bd/bdsbus

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http://www.betelco.com/bd/bdsbus

http://www.financialexpress-bd.com/

http://www.standardchartered.com/bd/

http://www.bangladesh-bank.org/

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