According to a wealth report, less than 0.5% of adults in this country has over us$1m net worth. To be a private bank customers, one need to have minimum us$1m liquid assets with the bank. Those who has this liquidity tend to diversify their risks. Many foreign banks could offer their private bank service offshore.

After 1mdb dabacle, some foreign bank will reject account opening if the account holder is or has immediate family holding high position in the government.

showtime747 like to correct above or add more on private bank?

This post has been edited by icemanfx: Mar 11 2017, 03:47 PM

Son, I am glad you can still think of me and quote me out of the blue

At HSBC Hong Kong, USD1 million will only qualify you for Jade by HSBC Premier which still falls under HSBC Premier service. Likewise, at Citibank USD1 million will also only qualify you for Citigold Private Client which also falls under Citibank Citigold service.

Rm assigned, attention given and investment options available is different. These rm have a team of assistant working for them and access to wider research report.

This post has been edited by icemanfx: Mar 11 2017, 05:12 PM

I think the private banking requirement is significantly higher than that. I heard it is like usd20mil or so before ppl like UBS and Morgan Stanley start looking at u. The rest they just put under lower category . I hearsay only.

Ha ha,,, to many rich tong san ah pek.

Fellow priority bankers , what do you think about this ?

http://www.mandmglobalgroup.com/

Rubbish

bro, priority banking of which banks?

+1

previously citibank increased the total AUM to 350k from 200k
that time i remembered it applied to new clients only.
Now they increase to 400k and it is mandatory for new/existing citigold clients... else they shift u under citi priority
Haiz..

Ya they now implemented this recently. I heard that is because minimum for Citigold is US$100k (worldwide or some countries ??). So increased from RM350k 1 year ago to this year RM400k due to u know the reason la. But >15 years ago until just 2 years ago, RM200k. So now other than UOB which is RM500k, I think Citigold is the next highest AUM for PB.

And they enforced the 400k to existing Citigold old and new customer.

This post has been edited by bbgoat: Mar 31 2017, 07:44 AM

I don't really see Citigold being any better than other Priority banking services to demand a higher AUM.

At least HSBC Premier immediately issue a credit card without having to suit anything - Citibank it took me multiple applications and a couple of months!

If you are citigold, from what I read, toy get the best exchange rates.

Ah yeah that's true - exchange rates are slightly better (USD > MYR at least)

But if one got transferwise and SGD account, better than priority banking.

Just my 2 cent.

To transfer from SGD to USD?

SGD account to Interactive Brokers is also an option and convert there - no spread at all!

Talking about those who need Citigold for remittance purpose to overseas.

Citigold customer can get free Platinum card, now changed to Reward card. So u joined Citigold and took months to get the credit card ?

I have been making use of Citibank's good TT rate to my advantage. But I have been with Citigold for >12 years.

Citibank USA and Citibank IPB increased the AUM for CitiGold from USD100,000 to USD200,000 last year. Citibank Hong Kong also increased the AUM for Citibank Hong Kong CitiGold AUM to HKD1.5 million (RM855,000).

The best selling point about Citibank CitiGold Global Transfer and HSBC Premier Global Transfer is that both are fee free and it is all done in real time (on a banking day). And for HSBC Hong Kong, as a Premier customer you can order foreign currency banknotes online and collect the money at your selected branch. This service is provided free for HSBC Hong Kong Premier customers.