Yeah that's very true, one day they'll probably claw it back - just matter of time. To be frank there's not much to the whole "Premier" thing as well other than once-in-a-bluemoon type of convenience (i.e. when I needed to open offshore AU account before being there, physically, without Visa and all). Beyond that it's just overrated title that people don't really care about (not me at least)


So long as they still let me to keep it for free, I'll continue to hold it till "that day" comes

Any idea any similar programme/campaign like Perks@Work for Maybank?

No idea to be honest, I didn't actively explore in this space
Closest thing I can find is https://www.maybank2u.com.my/maybank2u/mala...k-workplus.page but no mentions of Premier facility.

Noob questions here. I am more than qualify to be Maybank premier but how come never get invited? Do I need to tell them or 250k need to park somewhere for them to see?

In Singapore, 15-20 years ago, to qualify for Maybank Premier, we required AUM of SGD500,000 (that was back when SGD to MYR was 1 to 2.2. It’s since been lowered to SGD300,000, commensurate with the SGD strengthening to 3.5 MYR.

I think you’ll need RM1,000,000 to qualify.

This post has been edited by hksgmy: May 6 2024, 07:21 PM

most bank wont go and check how much money u got. u need to approach them and talk to the officer

For your reference

Not that I’m aware of.

It seems then that HSBC offers a better Premier program compared to SCB’s.

For me, I don't know and don't care. I have priority like service for my banking with other financial like institutions, it's good enough.
Spot exchange rate with Interactive Broker.
Multicurrency acocunt with DBS
Money match/Sunway money for my remittance at close to money changer rates.

All without needing to park my money with the banks.

This post has been edited by Ramjade: May 7 2024, 03:04 AM

Not that I want it but just wondering how they select? Some ppl tell me u have loan with them >500k then auto. I don't want to diverge too much info but even if you got SGD300K AUM they auto call u to invite or u need to flash in front of them?

If you have SGD300k, you qualify for OCBC sg premier.
DBS and UOB require 350k.

Usually you call have to call them. Unless you are banking with them, they might offer you if it's large enough.

I can’t speak for everyone but I was invited by virtue of the total assets I hold with the bank, which was all cash initially.

I’m not as savvy as Ramjade and my foray into investment started with my premier/prestige/privilege RMs who saw that I was getting a pittance from the funds I parked in the banks.

They saw the amount, they saw they can make some money from you so they invited you in.

No way I am getting invited as I leave my SG account with only SGD0.10 and I don't have SGD300k

This post has been edited by Ramjade: May 7 2024, 03:47 AM

To add further - if you wish to qualify for OCBC premier private, you need SGD1,000,000 AUM. For its full private banking status, you need, just like DBS and UOB, a min of SGD5,000,000 AUM.

Maybank’s Private banking requirements are perhaps the lowest. You only need USD1,000,000 to be uograded back when I was given the invitation some 10 years back.

Most of the time, the status upgrade is by invitation.

I only ever actually applied for Premier status once - and that’s with HSBC.

Well, it’s not all bad news to be honest.

When I was only at Premier/Privilege/Priority/Prestige level, I was introduced to bonds but I would only be given IG bonds bought from the secondary market and not be successful with IPO bonds of IG status, and definitely not the good quality ones worth holding.

There’d be the usual unit trusts etc but I flat rejected them. Cause I didn’t understand the companies behind them fully.

When I got onboarded and stayed in Private Banking, I was then tuned into IG IPO bonds and I’ve since acquired more than 60 such bonds which, in my humble opinion, are solid hassle free fire and forget investment options for people like me.

I’ve also bought my favourite dividend stocks on the cheap by way of FCN with knock in (and knock out) features - these pay around 8-12% per annum depending on the counters you select, and if the stock price falls, I pick them up on a bargain. It may be child’s play for a seasoned veteran like you, but I never knew these options existed until I got into Private Banking.

Apart from the financial services and cheap loans (anything from property purchase to a credit line - which I’ve thus far politely declined), I also get to use the free airport limousine service (I know, I’m a cheapskate) - both DBS and Maybank offers this, free access to airport lounges (Maybank via Priority Pass, and DBS has its own lounge at Changi T3 - although because we fly either Business or First/Suite Class, that’s often redundant, but the option is there), exclusive events (in addition to the annual or semi-annual wine and dine, Maybank has invited me on repeated occasions for concerts and football matches) and so on and so forth.

Edited to add the free credit cards with enhance benefits, eg Maybank’s Diamante card, with 3x the TP accumulation rate than normal. I’ve changed so many KrisFlyer points for free (no conversion fees).

They don’t only just take my money… they try to make me feel good while they do that (of course I know they’re earning a cut from whatever I buy through them!)

This post has been edited by hksgmy: May 7 2024, 08:01 AM

Anyone knows the old OUB Premier / Privilege / Priority SGD AUM needed to qualify? ...

before the merger to UOB banking group.

Wah... this is before my time! I am old, but not that old... and definitely no where near rich enough to be invited by OUB to be anything other than a retail customer back then!

That debit card gets you to the front of the line in places where they dont already know you.

Haha... well, no one (well, hardly anyone) does over the counter banking nowadays. My bankers come to me for signatures on certain important documents, and for all other transactions, it's via a phone call and voice log.

They will even exchange new notes in advance for me (eg for CNY) and I'll pay them back in cash, when they bring the complimentary red packets to the house.

I can't remember the last time I stepped into a bank... probably the time when I helped my domestic helper open a bank account...

This post has been edited by hksgmy: May 8 2024, 02:26 PM