private banking service's typical requirement is USD 1 million. well known banks offering this service include credit suisse, bnp paribas and deutsche bank. in malaysia there was hsbc private bank but it was closed recently because of our strict regulator's strict requirements so they werent able to sell many products. citbank has its private bank subsidiary in menara citibank jalan ampang. on the local consumer banking side, maybank is the forerunner with its private banking service. ive seen chequebooks inscripted with MAYBANK PRIVATE BANKING on the top left of the cheques. cimb has its private banking service at jalan semantan. im inclined to believe however maybank's private banking service is more of a priority banking service for its mass affluent customers who may also be high networth people rather then the traditional private banking service which include advisory and discretionary portfolios.

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Added on November 14, 2007, 8:50 pmhsbc premier requirement isnt rm 100k. its minimum deposit of rm 200k. same goes to citigold.

This post has been edited by mrcloud9: Nov 14 2007, 08:50 PM

If i do private banking, i won't choose those local bank like maybank, their banking very convienient but i do not like their service, style, very rude!!! Compare to HSBC so far i looking, between their services got a big gap.

Anyone with priority banking experience and wishes to share their experience? Apparently the turnover of RMs at Citibank's Citigold is very and there are too many customers while Stanchart's Priority Banking is too slow. Any comment? Some bank's RMs are very good and efficient too.
List of banks and their priority banking services:

1. Maybank Private Banking
2. RHB Infinity Banking
3. CIMB Club
4. Alliance Bank Privilege Banking
5. Bank Muamalat Prime Banking
6. Public Bank Red Carpet Banking
7. Hong Leong Priority banking
8. Citibank Citigold
9. HSBC Premier
10. OCBC Premier Banking
11. UOB Privilege Banking
12. ABN Amro Van Gogh Preferred Banking
13. Standard Chartered Priority Banking

These banks typically have an entry requirement of deposits worth RM 200,000 - RM 300,000 in order to qualify for their priority services. Some provide complimentary Platinum Credit Cards as well.

Dear all,

Private banking on above statements is true. Hence, Alliance bank just launch a new banking experience called Alliance Personal Club where you will enjoyed VIPs benefits. Eg: Private banking 6 star and Alliance Personal Club is 5 stars service. The nearest branch at Sunway Pyramid and you can looked for me Ronald for more info.

Thanks.

No need to do anything. Drawing from direct experience of people I know, the banks will contact you immediately when you reach the amount needed.
Here is how it goes:
1. Banks contact you saying you are their valued customer and that any problem contact them immediately. The contact person will usually be Branch manager, District/State manager. They will give you their HP number for you for anything you can do. Can call anytime you want but transactions will be done on working hours. Call 3am, will not get it by 4am. Unless its a international bank, where it will divert you to their team which are working during 3am your local time.
2. No forms are needed, basically, they will automatically move you to their VIC (customer) and will keep tabs on you from time to time.

How to get in:
1. Monthly income around Rm20K or your account has at least RM150k with active transactions. Different banks have different accounts. BSN has a lower rate compared to commerce bank like maybank. HSBC will go one better and "find their VIC" by checking your financial details.
*The above is only true for areas where the average bank customer are poor. E.g: If everyone in your area use the bank, and mostly are poor, you alone are rich, then bank will signal you out. If you stay in Damansara for example, make 20k or so, you may not even be eligible yet. It varies by bank, there are no strict procedure.
2. If need to fill forms to get in, then you are not that rich yet Rich people don't have the time or even care to be in the club. Time is money, filling in forms to get into a club that you are actually not worthy is another thing.
3. Prominent people in your community. MP's, Ministers, CEO's etc.

Benefits:
1. Do transactions by phone (no need to do online or go to counter). Priority counter transactions. No need to take number This is also done discreetly. Basically the banks don't want to expose you and you yourself better keep under radar, who knows who is watching you.
2. Cancel/Force Transactions if previous transactions are made. The duration varies from 1 day to 2 weeks grace period form first transaction. If your signature slightly different from template signature, they will call you back to get verification immediately.
3. Get free gifts from lucky draws. Some banks have lucky draws, but for VIC, they can "set" the prizes. No you will not get the mercedes from BSN SSP, but you can choose non-prominent prizes. Its discreet procedure, so people will not notice. No one bothers about the person who won the microwave, everyone will remember for a short period the person who won the car.
4. Get Platinum cards, (though I think this is more of a hassle than benefitt). Platinum cards annual charge fee is RM 600 thereabout, normal credit card only around RM100. Why waste RM 500? The problem is that the banks will keep harassing you until you accept the card. If you are making 20k monthly, why go credit card better go debit card better.