One Cust ID can be linked to only one membership ID. Under the family grouping clients can avail up to 4 membership IDs provided the required AUM is maintained as per the table.
Each membership ID will be issued within one month of the account opening. For example, if all Cust IDs opened on January 25, AUMs will be checked for January 25 and IDs will be issued by the end of February 25 provided the AUM is maintained as per the table
While issuing membership IDs at family AUM level one membership ID will be issued to the primary Cust ID. The rest of the membership IDs within the limit will be issued based on primary client explicit consent which will be recorded as per the family grouping form.
Each family can have a maximum of 4 clients grouped under the family banking programme to avail themselves of this facility including joint account relationships. Clients will need to submit family grouping forms and list the family members who would like to avail of the facility provided balances are maintained as per the table.
Membership IDs for existing clients will be issued in the following manner:
Membership ID for existing clients will have a validity of 6 Months from the month of issuance i.e. June 30 and December 31 and will be issued only on these cycles and not on an ad hoc basis.
Eligibility will be checked annually in the above two cycles, and membership will be renewed only for clients maintaining AUMs at the family level as per the table.
Avg AUM of the last 3M preceding the review cycle will be checked.
Clients upgraded to the Infinity or Select category based on salary/designation, including Deutsche Bank staff, will be eligible only when they maintain the defined Assets Under management as per the above table. Membership IDs will be issued only in two cycles: June 30 and December 31, for existing clients.
Deutsche Bank will review membership IDs for all existing clients in two cycles June 30 and December 31 of every year. For revalidation of the membership IDs, the average AUM of the last 3M preceding the review cycle will be checked.
In case the balances are not maintained the facility will be discontinued with suitable intimation to the clients.
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