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 Priority Banking, Everything about Priority Banking

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foofoosasa
post Dec 22 2011, 03:19 PM

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QUOTE(MilesAndMore @ Dec 30 2010, 01:26 AM)
Ah ... just like the xx% return for Russian Rubles Time Deposit which they offered only to the select wealthy few via several Private Banks back in 2008  thumbup.gif
Thanks  smile.gif
A few people i know have also successfully opened HSBC Premier account in UK, Singapore and Hong Kong using only their local HSBC Premier account as reference. I wondered if anyone has done the same with HSBC USA ... Hopefully someone with such experience can shed a light.
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Hi sorry just want to ask a question in this old thread if you don't mind.
what is the meaning "reference" you stated above? does it mean you don't have to be in USA, UK... when you want to open offshore border account? Wish someone to clarify because I am totally new to these feature.
thanks thumbup.gif

This post has been edited by foofoosasa: Dec 22 2011, 03:20 PM
TSmrcloud9
post Mar 11 2012, 12:51 AM

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anyone would like to share their experience?
cypher
post Mar 12 2012, 02:18 PM

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actually what benefit do we get for this type of services? i mean red carpet or priority or whichever it call?

anything special to make the money grow? or just some kind of status?
gark
post Mar 12 2012, 02:47 PM

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Priority Banking nothing much to shout about... benefits includes... yawn.gif

1. Free coffee/tea and nice sofa while you do your banking and got free parking...
2. Personalized attention from RM, no need to queue at counter...
3. Free Airport Lounge.. some banks only
4. Better forex rate, free money transfer, better FD rate, investment options... etc
5. Priority credit card...

But the catch is you must have AUM of at minimum RM 200,000-RM 500.000 with the bank... wink.gif Nowadays priority banking not so exclusive anymore, almost anyone with reasonable (above average) earnings can qualify already... laugh.gif

This post has been edited by gark: Mar 12 2012, 02:55 PM
cypher
post Mar 12 2012, 03:11 PM

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QUOTE(gark @ Mar 12 2012, 02:47 PM)
Priority Banking nothing much to shout about... benefits includes...  yawn.gif

1. Free coffee/tea and nice sofa while you do your banking and got free parking...
2. Personalized attention from RM, no need to queue at counter...
3. Free Airport Lounge.. some banks only
4. Better forex rate, free money transfer, better FD rate, investment options... etc
5. Priority credit card...

But the catch is you must have AUM of at minimum RM 200,000-RM 500.000 with the bank...  wink.gif Nowadays priority banking not so exclusive anymore, almost anyone with reasonable (above average) earnings can qualify already... laugh.gif
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better FD rate? i tot FD rate is fixed based on tenure and bnm?
gark
post Mar 12 2012, 03:13 PM

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QUOTE(cypher @ Mar 12 2012, 03:11 PM)
better FD rate? i tot FD rate is fixed based on tenure and bnm?
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OPR rate is fixed by BNM, FD rate is never fixed. Some banks gives higher FD rate to encourage people to join their priority banking. Look for more info at the FD thread. wink.gif
foofoosasa
post Mar 12 2012, 04:05 PM

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QUOTE(gark @ Mar 12 2012, 03:13 PM)
OPR rate is fixed by BNM, FD rate is never fixed. Some banks gives higher FD rate to encourage people to join their priority banking. Look for more info at the FD thread.  wink.gif
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Agreed. like HSBC premier sometimes only offer to new customer ONLY. zzzz....
the only benefit I care about is opening offshore account...Nothing really attractive to a person like me.
normanTE
post May 27 2012, 02:58 PM

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i dont know priority shit. because it what i think it is what bank use to lure more vip customer to buy their funds.. high income group.
people like me. where got money to buy funds, got also open credit suisse or ubs in switzerland.
i use american express charge card (platinium) can access global lounge while travel no need any club private bank bla, it is rubbish la.

ubs giving out amex black card if u deposit 3 mil usd.
hsbc private banking need minimum 5 million usd to open account
hsbc premier is the best. due to their global chains. can use global view and send money here and there within ure account eg singapore malaysia hongkong china india direct, uk offshore and usa. hsbc privileges.. NILLLLs amex do better than that..
i dont know the other bank standard charter, uob, ocbc all the same.. jake shit only.....moral story get amex charge card platinium.
audionutter
post Jul 1 2012, 11:27 AM

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QUOTE(normanTE @ May 27 2012, 02:58 PM)
i dont know priority shit. because it what i think it is what bank use to lure more vip customer to buy their funds.. high income group.
people like me. where got money to buy funds, got also open credit suisse or ubs in switzerland.
i use american express charge card (platinium) can access global lounge while travel no need any club private bank bla, it is rubbish la.

ubs giving out amex black card if u deposit 3 mil usd.
hsbc private banking need minimum 5 million usd to open account
hsbc premier is the best. due to their global chains. can use global view and send money here and there within ure account eg singapore malaysia hongkong china india direct, uk offshore and usa.  hsbc privileges.. NILLLLs amex do better than that..
i dont know the other bank standard charter, uob, ocbc all the same.. jake shit only.....moral story get amex charge card platinium.
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Its not true Malaysia Amex charge card can access global lounge whilst travelling. It allows entry to some lounges in Asia but not worldwide. Standard Chartered Priority banking is better, you get a priority pass card that allows Free entry into airport lounges worldwide with their Visa Infinite.

American Express Platinum charge card from other countries however, also give you priority pass card like what Standard Chartered does, but not Amex Malaysia Platinum charge card
guanteik
post Sep 13 2012, 08:21 AM

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Hello, I wanna ask if anyone has use Maybank's Private Banking to obtain/apply the cheque book? If I am not mistaken, MBB Private Banking cheque book has got a "Private" word on it.
munkeyflo
post Sep 14 2012, 02:33 PM

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QUOTE(guanteik @ Sep 13 2012, 08:21 AM)
Hello, I wanna ask if anyone has use Maybank's Private Banking to obtain/apply the cheque book? If I am not mistaken, MBB Private Banking cheque book has got a "Private" word on it.
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Yes, Maybank Private Banking cheque book is different from the normal cheque book.
The old cheques look nicer which has "Maybank Private Banking" stated on the left upper corner. Latest cheques have the Maybank logo at the top left and just states "Private Banking" on the upper right area.
gracelim2202
post Sep 15 2012, 06:44 PM

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Hi guys, need some views on HLB Priority Banking experience.

Also, there is this service called HL Income Management Fund (IMF) whereby the min investment is RM100k. As stated in its flyer, the fund aims to give investors with the opportunity to enjoy regular income distribution while maintaining capital stability.
There is no service charge or redemption charge.
But there are 2 fees involved:
Annual managment fee @ 0.3% pa of the Fund's NAV
Annual Trustee fee @ 0.035% of the Fund's NAV

Q:
- is this some kind of UT product? if so, then how come there is no service (commission) charge?
- will the initial values of investment ie RM100k be reduced, depending on the fund's performance?

The above questions did pose to RM, but they were answered very "discreetly", hence would like to get more neutral kind of opinions here.
klk888
post Oct 4 2012, 12:48 AM

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Any changes to the min requirement? Appreciate if someone could update the latest information if available, thank you.
MilesAndMore
post Oct 4 2012, 02:41 AM

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QUOTE(klk888 @ Oct 4 2012, 12:48 AM)
Any changes to the min requirement? Appreciate if someone could update the latest information if available, thank you.
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You can refer to the first post. It was last updated in March this year and the information there does correctly reflect the current minimum deposit required to be a certain bank's affluent banking customer.
guanteik
post Oct 4 2012, 02:10 PM

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QUOTE(klk888 @ Oct 4 2012, 12:48 AM)
Any changes to the min requirement? Appreciate if someone could update the latest information if available, thank you.
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AFAIK, there is a change in MBB's private banking, which requirements drops from saving/investments/deposits 500K to 250K. RM1M loan from them will automatically qualified for this service.

For Public Bank's RCB, requirement is only RM250K; RM200K if one has a Mutual Gold status.

I am pretty sure on these 2 banks, the rest not sure.
Chigme
post Oct 14 2012, 04:49 PM

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Get up to 200,000 TreatsPoints when you introduce your family and friends to Maybank Private Banking. Promotion ends 31 Oct 2012.

http://www.maybank2u.com.my/WebBank/RPPB220512_tnc.pdf

Vestor
post Oct 14 2012, 10:51 PM

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QUOTE(Chigme @ Oct 14 2012, 04:49 PM)
Get up to 200,000 TreatsPoints when you introduce your family and friends to Maybank Private Banking. Promotion ends 31 Oct 2012.

http://www.maybank2u.com.my/WebBank/RPPB220512_tnc.pdf
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May I know what is this TreatsPoints used for?
Chigme
post Oct 14 2012, 11:47 PM

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QUOTE(Vestor @ Oct 14 2012, 10:51 PM)
May I know what is this TreatsPoints used for?
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You need to have a Maybank Crdt Card, the treatpoints can be redeemed for gift/voucher etc
knightrazor
post Oct 15 2012, 01:39 AM

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QUOTE(Chigme @ Oct 15 2012, 01:17 AM)
You need to have a Maybank Crdt Card, the treatpoints can be redeemed for gift/voucher etc
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Can their AMEX collect treatspoints as well?

raymond_loh
post Dec 20 2012, 04:57 AM

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QUOTE(mrcloud9 @ Nov 15 2007, 02:34 PM)
Anyone with priority banking experience and wishes to share their experience? Apparently the turnover of RMs at Citibank's Citigold is very and there are too many customers while Stanchart's Priority Banking is too slow. Any comment? Some bank's RMs are very good and efficient too.
List of banks and their priority banking services as well as minimum balance requirements:

1. Maybank Private Banking - RM 500k
2. RHB Premier Banking - RM 200k
3. CIMB Preferred - RM 200k
4. Alliance Bank Privilege Banking - RM 200k
5. Bank Muamalat Prime Banking - RM 200k
6. Public Bank Red Carpet Banking - RM 500k
7. Hong Leong Priority Banking - RM 200k
8. Citibank Citigold - RM 200k
9. HSBC Premier - RM 200k
10. OCBC Premier Banking - RM 300k
11. UOB Privilege Banking - RM 500k
12. Standard Chartered Priority Banking - RM 250k
13. KFH Priority Banking - RM 200k
14. AlRajhi Affluent - RM 250k

most of them require the funds to be placed in FD to ensure it won't drop below the minimum entry requirements. some provide complimentary Platinum or World or Infinite Credit Cards as well.
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Quote, "the turnover of RMs at Citibank's Citigold is very and there are too many...". So, the turnover of RMs at Citibank's Citigold is very what?

Just curious. laugh.gif

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