sorry noob here...just wondering what's the benefit of Private banking lol

Other than having someone to 'personally' inform you of updates of most products and investment opportunities, products and services. Somewhat services that makes life easier of those in the HNWI and UHNWI.
FREE COFFEE, yes, free coffee is good lol. And certain stuffs like transactions by phone. but it really depends what people classify as "private banking".

Here's like an example of Private Banking by CIMB
CIMB Private Banking FAQs
Maybank Private Banking

Now I'm more curious what do private banking services would they provide? like
CIMB Preferred vs CIMB Private Banking or Maybank Premier Wealth vs Private Wealth.
I would love to see some insights of them, on top of what spiderwick has asked

This post has been edited by VinceCheong: Sep 14 2017, 07:22 PM

haha the only thing that interests me is special parking slot no need to pusing pusing find parking

First time I used my CIMB VISA Infinite Preferred Card. eStatement surprises me, there is a point 3 Fees & Charges:



What the hell is this? They want to charge me RM 125 because I spent RM 10000 with the card and settled the bill immediately?

Actually I expected the opposite as they promote this cash rebate on their website:



Nothing to find on my August statement.

Any CIMB customer that can enlighten me?

This post has been edited by David_Yang: Sep 15 2017, 06:37 PM

keyword "settle minimum due"...

Guys , anyone here opened a savings account in Australia ? Or a DCA? What are the benefits ?

If you want, I can PM you on how to open account there. Non priority banking way of course.
Adavantage? (some I can think of)
- Australia companies are one of the most generous company when it comes to dividend (even after minus the 30% with holding tax by govt) That's if you invest in ASX.
- Accumulate more AUD when it's down (vs the RM) in the event of sending kids over there to study in the future. Citizenship for kids might not be so easy anymore. Thanks to China Chinese and anti immigrant sentiment.

Disadavantage
- You will be taxed on the interest earned even FDs
- Most bank in Australia require you to have AUD2000/month flowing in. Failing to comply will be charged fees. Most. There are exceptions.

This post has been edited by Ramjade: Sep 16 2017, 12:19 AM

OK, got that, thy.

And what about the promised "Get 0.5% cash rebate for every RM1 spent on your everyday local transactions"?

It's what it's stated, no issue there. Just read the tnc.

As far as I know, this preferred card don't have rebate, only normal visa infinite. Preferred offer bonus points instead.

This post has been edited by voonmingloo: Sep 21 2017, 06:19 PM

CIMB Preferred Visa Infinite can be use in China ?

I think china uses union pay..

Visa maybe yes, but selected places.

Ok, I'm not a credit card user, but the preferred account gave us the preferred infinite card. So what if we swipe the card in one of the shopping mall in Shanghai. How would the charges be ?

ex:

Bought a small bag worth RMB 288

conversion rate per today RMB to MYR 1 : 0.63


So in my statement, I'm to pay RM 182.54 for the bag right ? any extra charges ?

Thanks.

BTW, can you tolerate with the below when you expect to be replied within 3 working days:

https://www.cimbpreferred.com.my/en/contact...d-feedback.html

Contact Us
Thank you for contacting us.

We'll be getting back to you within 14 days.

14 days can make impact of market decisions.

Since u r a PB customer.
Why not giv this question to your RM ? Let them find out for you

Mainly with RM, I stumbled across the website, throw in some queries. Dint aspect the respond days clock to 14 days.

citibank priority banking= min rm 100k- rm 400k

citibank gold banking = min 400k

Instead of Citibank Gold Banking, it is usually called Citigold.

Just back from overseas holiday.

Used CIMB Preferred VI and AmBank VI to access to Penang and Singapore PPL ! Citigold only entitled me to KLIA PPL.

Thanks for some of the earlier suggestions of the VI cards.

This post has been edited by bbgoat: Sep 24 2017, 02:54 PM