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 Priority Banking, Everything about Priority Banking

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qu3vax
post Apr 26 2020, 01:23 AM

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QUOTE(hksgmy @ Apr 21 2020, 10:41 AM)
Hello guys. Do you by any chance have the equivalent information about Maybank and cross-recognition?

I have a private banking/premier wealth banking account with Maybank Sg, and I have a nominal amount in very old "normal" Maybank account in My (which was from my SMK days in Malaysia some 40 years ago). The Maybank account in Malaysia was converted into an Islamic banking account (which pays no interest) from the previous current account. I've asked on the side of Singapore, who referred me onto their Malaysian counterpart dealing with off-shore banking. This was just before COVID19 struck. Since then, everyone's been working at home, and the Malaysian lady hasn't been able to help clarify my queries.

Essentially, I only have about RM250,000 in the Malaysian account, and that doesn't automatically qualify for premier status. If they have cross-recognition with Maybank SG, then qualifying for premier status wouldn't be an issue. Otherwise, I'll have to convert some SGD into RM.

Thanks in advance!
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It's not auto to become premier wealth. i didnt realize i have more than enough to entitle for the premier wealth banking until my RM convert my account (premier 1 current account) into premier wealth(interest higher). i remember i did sign something, i think is something related to the premier wealth debit card, well doesnt matter since u might not need it during CCB period.

my suggestion is, you need a RM, try to call the branch(must be that branch) where u opened ur account, u have fulfilled 250k aum, get a RM and try convert it manually. Maybe they can do it, just try.

hksgmy
post Apr 26 2020, 02:46 AM

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QUOTE(qu3vax @ Apr 26 2020, 01:23 AM)
It's not auto to become premier wealth. i didnt realize i have more than enough to entitle for the premier wealth banking until my RM convert my account (premier 1 current account) into premier wealth(interest higher). i remember i did sign something, i think is something related to the premier wealth debit card, well doesnt matter since u might not need it during CCB period.

my suggestion is, you need a RM, try to call the branch(must be that branch) where u opened ur account, u have fulfilled 250k aum, get a RM and try convert it manually. Maybe they can do it, just try.
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Thank you. You are right, it’s not auto convert. I was already assigned an off shore RM before this Covid 19 mess happened. Now everything is put on hold and nothing is happening.
apathen
post Apr 28 2020, 10:03 PM

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QUOTE(hksgmy @ Apr 25 2020, 04:57 PM)
Thank you. I’ll just have to wait until MCO is over and the off shore banking lady from Maybank MY can help me set up my account then. Thank you again!
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may i know what is the benefits entitled for maybank sg's priority banking?
hksgmy
post Apr 28 2020, 11:23 PM

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QUOTE(apathen @ Apr 28 2020, 10:03 PM)
may i know what is the benefits entitled for maybank sg's priority banking?
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I get slightly better interest rates (usually between 0.25 to 0.5% more) than their promotional rates, and I get free use of various lounges at different locations. Also free limousine to airport and use of airport lounge but since we usually travel business class and above, the benefits are never utilised.
apathen
post Apr 29 2020, 12:18 AM

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QUOTE(hksgmy @ Apr 28 2020, 11:23 PM)
I get slightly better interest rates (usually between 0.25 to 0.5% more) than their promotional rates, and I get free use of various lounges at different locations. Also free limousine to airport and use of airport lounge but since we usually travel business class and above, the benefits are never utilised.
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Tq for the info. Here we don't have free use of limo and airport lounge.
babyscouts
post May 3 2020, 10:43 AM

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Hi guys
Any bank offering visa infinite or mastercard world elite debit card?
Tq


bbgoat
post May 3 2020, 02:00 PM

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QUOTE(babyscouts @ May 3 2020, 10:43 AM)
Hi guys
Any bank offering visa infinite or mastercard world elite debit card?
Tq
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For their PB, CIMB, AmBank. Other banks also which others can confirm.
babyscouts
post May 3 2020, 03:48 PM

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QUOTE(bbgoat @ May 3 2020, 02:00 PM)
For their PB, CIMB, AmBank. Other banks also which others can confirm.
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Tq
Sofar i only know rhb got
Cimb and ambank is credit card rite?
Got debit card ornot?
LoTek
post May 3 2020, 06:31 PM

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Whats the point of having a high tier debit card?
bbgoat
post May 3 2020, 06:47 PM

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QUOTE(babyscouts @ May 3 2020, 03:48 PM)
Tq
Sofar i only know rhb got
Cimb and ambank is credit card rite?
Got debit card ornot?
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CIMB and AmBank are VI and World Master Card, credit cards. RHB also give but I did not take it so did not confirm earlier.

Debit card wise, did not ask as already given the credit cards. biggrin.gif
GrumpyNooby
post May 3 2020, 06:48 PM

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QUOTE(bbgoat @ May 3 2020, 06:47 PM)
CIMB and AmBank are VI and World Master Card, credit cards. RHB also give but I did not take it so did not confirm earlier.

Debit card wise, did not ask as already given the credit cards.  biggrin.gif
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He wants debit card not credit card.
He's also scouting for metal made debit card.

This post has been edited by GrumpyNooby: May 3 2020, 06:49 PM
powerlinkers
post May 3 2020, 06:56 PM

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This post has been edited by powerlinkers: May 3 2020, 07:02 PM
powerlinkers
post May 3 2020, 06:58 PM

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Deleted.

This post has been edited by powerlinkers: May 3 2020, 07:01 PM
bbgoat
post May 3 2020, 06:59 PM

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QUOTE(GrumpyNooby @ May 3 2020, 06:48 PM)
He wants debit card not credit card.
He's also scouting for metal made debit card.
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Oh, my bad.....

Why would he want VI debit card ? For prestige ?
GrumpyNooby
post May 4 2020, 02:54 PM

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Today a CIMB Preferred RM called me for account opening.

Previously she texted me with a lot of info in Whataspp regarding promotional FD an gold investment.

It's little weird. Shouldn't a RM from home branch call me instead a branch that I have no business with?
zenquix
post May 4 2020, 11:15 PM

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QUOTE(MilesAndMore @ Apr 16 2020, 01:32 PM)
Just some extra information on Standard Chartered Bank Priority Banking. Just like HSBC Premier, the status is recognised overseas but it’s not automatic like HSBC. Your RM need to write in so they can link your account manually, so you don’t have to fulfil the minimum deposit again to gain SCB Priority Banking status in another country. I found out some SCB RM do not know about this, and have been giving the wrong information to their clients that Standard Chartered do not recognise cross-border Priority Banking status, but in fact they do.
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i got told differently. While they can write to SG, the leeway to fulfil deposit requirements is only waived for one year, and whether to accept you as a client is the SG entity call.

QUOTE(GrumpyNooby @ May 4 2020, 02:54 PM)
Today a CIMB Preferred RM called me for account opening.

Previously she texted me with a lot of info in Whataspp regarding promotional FD an gold investment.

It's little weird. Shouldn't a RM from home branch call me instead a branch that I have no business with?
*
could it be you had some accounts there in the past (HP loan, credit card roadshow etc.).. a bit weird for a cold call. My wife did get such a call before, but is from the home branch of her account.
MilesAndMore
post May 5 2020, 11:40 AM

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QUOTE(zenquix @ May 4 2020, 11:15 PM)
i got told differently. While they can write to SG, the leeway to fulfil deposit requirements is only waived for one year, and whether to accept you as a client is the SG entity call.
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There goes the inconsistency of the information provided by Standard Chartered RM. The second part however is correct, that Standard Chartered SGP is to call the shot if they want to admit you as a client. The same goes to HSBC Premier, whilst automatic, it depends on the host country to allow you to open an account.
hksgmy
post May 5 2020, 12:14 PM

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QUOTE(MilesAndMore @ May 5 2020, 11:40 AM)
There goes the inconsistency of the information provided by Standard Chartered RM. The second part however is correct, that Standard Chartered SGP is to call the shot if they want to admit you as a client. The same goes to HSBC Premier, whilst automatic, it depends on the host country to allow you to open an account.
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Indeed on the HSBC part - I had to furnish all sorts of documentation and proof of relationship when I wanted to open a joint account with my niece in the UK about a decade ago - the money was for her studies in the UK, and still they didn't make it easy (although we were already Premier Wealth clients with HSBC in Singapore)
csbong87
post May 17 2020, 11:46 AM

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QUOTE(GrumpyNooby @ May 4 2020, 02:54 PM)
Today a CIMB Preferred RM called me for account opening.

Previously she texted me with a lot of info in Whataspp regarding promotional FD an gold investment.

It's little weird. Shouldn't a RM from home branch call me instead a branch that I have no business with?
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She wants to fight for branch sales target ?
jccf23
post May 29 2020, 11:15 AM

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anyone have tried to open the premium saving account for HL bank?
Does apply this type of account must pay some of the annual fee as well?

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