Tqvm hye for the great info
I think same thing goes to HSBC Premier as well right?

Yes same thing. In fact there are a lot of customers in these banks where they meet the PB deposit requirements but they are not PB customers. Often, it is the customer choice.

Standard Chartered Singapore launching Preferred Banking(info provided by MilesAndMore), which requirements much lower than their Priority Banking.
Anyone have idea when it will launch at Malaysia?

This post has been edited by JJBerry: Aug 15 2010, 03:07 PM

**Post copied from the credit card thread.

Anyway, referring to your question. From what i understand is that you must maintain a separate S$200,000 and S$50,000 if you choose choose to have both the Priority Banking account and Preferred Banking account. In a nutshell, your total relationship balance with Standard Chartered Singapore must be S$250,000.

As for when they will launch Preferred Banking in Malaysia, soon i guess. I'd expect the next city that will get this new packaged account is Hong Kong and Taiwan and follow by the rest of the countries when Standard Chartered is presence in the retail banking segment.

In Maybank, we have priority banking as well as private banking.
For priority banking, the requirement is only RM50k - rm250k deposits, anything more and you will qualify for private banking.
I'm not sure if you all are familiar with maybank priority banking

Standard Chartered Preferred Banking will be launch on soon, somewhere around 23 August to early september, the minimum requirement are RM 72k p.a. minimum salary or place a FD of 72k or combination of investment,FD and CA,SA with SCB MAlaysia then we will entitled with the Preferred Banking status. We will rewards with WORLD MASTERCARD as that shown our priviligle

Hey i want to ask about western union. Will be using it for the first time. Different bank different rate right? Which bank would is recommended? RHB, Bank simpanan nasional or CIMB? Let's say will be sending around 500USB. Normally how much is the fee?

Thanks

Where you get this info?
RM72k income p.a. can apply for a World Mastercard? The requirement are really low and ridiculous for such premium range credit card.

I'd really like to know more about Maybank Priority Banking and Maybank Private Banking. Please elaborate more as to what are the privileges like for both of these 2 banking packages. There simply is too little information on Maybank Private Banking on M2U. As for Maybank Priority Banking, i do not think there is even such information on M2U regarding this banking package at all.


Do you know if one can get the Standard Chartered Preferred Banking World MasterCard without the need to submit a proof of income when applying for it just like the Standard Chartered Priority Banking VISA Infinite ? I believe this card is a complimentary card in Singapore but how Malaysia ?


Wrong thread bro !

Standard Chartered Preferred Banking has finally arrived on our shore. Click HERE to find out more.

I have some transitional (temporary) money in my CIMB account, then suddenly they send me a CIMB preferred card, and automatically (forcefully) enrolled me. Now if I want to take out the money from the account, will they give me a penalty or they will automatically remove my status?

If these temporary money keeps going in and out, are they going to keep giving me the preferred banking and then retract it each time? Hmm weird system...

It would be better if they give us a choice to choose.... Anyway tried CIMB preferred banking, got coffee and tea to drink, comfy chairs, 1 to 1 banking, but still same as CIMB, slow as hell. Withdraw FD also need to take 1/2 hour... haiz something never change.

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Added on August 23, 2010, 9:04 amSo cheap meh? 72k of investment can get priority status and world card, they have really dropped their status. Used to be 200k.

This post has been edited by gark: Aug 23 2010, 09:10 AM

if your account balance is below their limit threshold for preferred customer then they can charge you a fee. Btw you can always use internet banking to place and withdraw FD. Done in seconds and do not have to go to the bank.

That is the problem, they automatically give me the preferred status, now I want to take out they charge me fee.. haiz... maybe need to call them to cancel the status. Later when the money is in again, they will give me the preferred status again.. very troublesome lah.

The FD is placed in 2003, before CIMB clicks is popular. Have to give them the original certificate as well.....

This post has been edited by gark: Aug 23 2010, 11:02 AM

CIMB Preferred doesn't interest me one bit. Compared to the major foreign players, the products offered are rather dull. Besides, they still charge you annual fee for their ATM card but not any of the foreign banks such as HSBC, Citibank and Standard Chartered. Even ATM replacement card is free too


Standard Chartered Preferred Banking is a new packaged account. The Standard Chartered T&C for their Priority Banking is still the same. Below is the minimum deposits for each banking packages offered by Standard Chartered.
- SCB Preferred Banking > RM72,000
- SCB Priority Banking > RM250,000
You see ? The status has not dropped.

CIMB Bank Preferred Banking minimum deposit to qualify is RM150,000.

If we already a StandChart Priority Banking client, we need to invest/deposit another RM72k to qualify for the Preferred Banking?
How about for example we have RM400k invest/deposit with them, we still need to invest/deposit RM72k again?
Or maybe only either one status(Priority or Preferred) can be obtain by a single customer?

Not exactly sure about this. However at HSBC, an existing HSBC Premier customer wishing to open an Advance account will need to at least maintain RM220,000 at HSBC to avoid any account management fee (RM200,000 for Premier and RM20,000 for Advance). If the HSBC Premier customer wishing to open a second Premier account, then he'd need RM400,000 of deposit. I believe it works exactly the same at Standard Chartered.


Therefore, if you already have RM400,000 at Standard Chartered with only 1 Priority Banking account, you do not have to come up with another RM72,000 to open this Preferred Banking account.

This post has been edited by MilesAndMore: Aug 23 2010, 12:03 PM

Currently, the priority banking name has been dropped because there are confusions among customers between private banking and priority. Some ppl perceive priority banking as private and they expect the same level of service. For priority banking, Maybank offers relationship executives to assist them and its offered to customers that have deposits from 50k - 250k. this service is available in most high traffic branches in KL and selangor. I'm actually the relationship executive for priority banking currently.

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Added on August 23, 2010, 5:44 pmas for private banking, customers are assigned a relationship banker and they get access to the private banking centres.
its a little bit more exclusive service for private banking customers and certain extra promotions available to them
for priority, not well known because the name is dropped already this year

This post has been edited by thewayiam: Aug 23 2010, 05:44 PM

As i said, its finally reach our shores where as theirs requirement doesn't drop at all. i thinks the bank just add another new segment where as targeting to new client segment which is executive level.

From what i understand is that, we need to apply for a WORLD mastercard and an current account, but the current account must maintain the balance of RM 6,000 per annum, or else will charge RM 10 once the balance drop below RM 6k.

After all, i think it should be similiar with citi blue, cimb preffered, maybank priority, only that some banking had different classified for this segment only. After all, we just look at the requirement then we will know. :>

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Added on August 24, 2010, 1:46 amI understand that if we receive the direct invitation if we are the existing client then it will be direct access to the Preferred Banking. Where as the card and status will automatically approve. Only those who receive the mail during last few weeks and upon invitation by the Relationship Manager then it consider as Pre-Approved. OR else we need to submit income document as proof as well, to meet the requirement of 72K p.a.

I do believe it should be as same as Singapore because most of the bank doesn't allow double standard. From the website, most of the benefit are the same and it shown as the same card we apply. Therefore i dont see any different from there. IT should be a complimentary card to shown our status as Preffered CLient in Standard Chartered.

This post has been edited by keeganz: Aug 24 2010, 01:46 AM

But if we do have to submit our proof of income, then it is not a complimentary card anymore because one doesn't have to submit a proof of income when applying for the Priority Banking VISA Infinite.

If u can deposit RM 72k into Standard Chartered then it wil be complimentary card, but if not we still can apply tru RM 72k p.a of annual income.