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.

However, based on the informations obtained from their website. It seems that one will still need to provide a proof of income even after successfully opened the Preferred Account. Anyone having this account please confirm please

Hi, Just to check, which bank can deposit and withdraw FD online?

- M2U
- CIMBClicks

Also HSBC and RHB. HSBC cannot withdraw online before maturity, but RHB can, something they introduced recently.

The worst (I know it's not your question, but I have to mention) is Public Bank. You deposit a FD, and then they ask you to pick up the paper certificate from your bank branch! They haven't caught up with the online Internet age yet, apparently.

same with bank Islam actually.

i was given a certificate but I can track the progress of my FD online with details of the profit earned and what not.

This post has been edited by nokia2003: Aug 25 2010, 09:58 AM

All Priority Banking customers are granted free for life platinum cards right? or in some cases infinite or world cards. Are these cards pre approved or subject to normal credit processing?

They will still check your CCRIS. It is a normal procedure.

Well, OCBC premier Banking offers all this.

The point is you need to be an active customer. Even if you few millions in FD, CA or SA, you might not be invited.

Banks like customers who do investment / insurance with them

I'm interested to be a SCB's preferred banking customer, can anyone introduce any banking officer that I can talk to?

Go into any Standard Chartered branch and they will refer you to the right person.

I see. Thanks.

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Added on September 16, 2010, 12:20 pm
Forumers, just wanna ask - does the priority service of UOB, OCBC, Standard Chartered, Citibank - allow me to open an account in their Singapore branch without me having to be physically present in Singapore. And do they offer free telegraphic transfer of funds from my Malaysian account to my Singapore account?

This post has been edited by Veda: Sep 16 2010, 12:21 PM

Standard Chartered does offer this sort of service. Your relationship manager can arrange it for you. Standard Chartered also offers you a fee free telegraphic transfer to any of your overseas Standard Chartered account. The fee free telegraphic transfer can only be done inside the Priority Banking centres though.

By the way, you need RM250,000 of deposit to maintain a Standard Chartered Priority Banking account.

Noted, thanks. Does UOB and OCBC offer the same?

In Malaysia, i only know HSBC and Standard Chartered Bank offer such service. Citibank also offers such service in other countries but not Citibank Malaysia.

I see. Does HSBC and Standard Chartered accept a big housing loan in place of the RM200k-RM250k deposit? For example, CIMB Preferred is available to those with a minium of RM1 million loan with the bank.

I like HSBC for its first class service but Standard Chartered offers innovative products and are generous in giving out loans.