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 Priority Banking, Everything about Priority Banking

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MilesAndMore
post Aug 22 2010, 10:46 PM

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QUOTE(thewayiam @ Aug 22 2010, 09:07 PM)
I'm not sure if you all are familiar with maybank priority banking
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.


QUOTE(keeganz @ Aug 22 2010, 09:08 PM)
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
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 ?


QUOTE(Rawks @ Aug 22 2010, 09:13 PM)
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
Wrong thread bro !



MilesAndMore
post Aug 23 2010, 01:23 AM

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Standard Chartered Preferred Banking has finally arrived on our shore. Click HERE to find out more.
MilesAndMore
post Aug 23 2010, 11:04 AM

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QUOTE(gark @ Aug 23 2010, 09:00 AM)
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...  rclxub.gif  doh.gif

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.  doh.gif Withdraw FD also need to take 1/2 hour... haiz something never change.

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 thumbup.gif


QUOTE(gark @ Aug 23 2010, 09:00 AM)
So cheap meh? 72k of investment can get priority status and world card, they have really dropped their status. Used to be 200k.  laugh.gif
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.
MilesAndMore
post Aug 23 2010, 12:00 PM

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QUOTE(JJBerry @ Aug 23 2010, 11:54 AM)
If we already a StandChart Priority Banking client, we need to invest/deposit another RM72k to qualify for the Preferred Banking?
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.


QUOTE(JJBerry @ Aug 23 2010, 11:54 AM)
How about for example we have RM400k invest/deposit with them, we still need to invest/deposit RM72k again? rclxub.gif
Or maybe only either one status(Priority or Preferred) can be obtain by a single customer?
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
MilesAndMore
post Aug 24 2010, 09:48 AM

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QUOTE(keeganz @ Aug 24 2010, 01:39 AM)
I 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.
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.

MilesAndMore
post Aug 24 2010, 08:45 PM

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QUOTE(keeganz @ Aug 24 2010, 07:51 PM)
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 smile.gif

MilesAndMore
post Aug 24 2010, 10:25 PM

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QUOTE(Dyong @ Aug 24 2010, 09:31 PM)
Hi, Just to check, which bank can deposit and withdraw FD online?
- M2U
- CIMBClicks

MilesAndMore
post Sep 5 2010, 05:33 PM

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QUOTE(rockefeller @ Sep 5 2010, 03:44 PM)
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.

MilesAndMore
post Sep 15 2010, 10:33 PM

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QUOTE(vgodmax @ Sep 15 2010, 09:31 PM)
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.

MilesAndMore
post Sep 16 2010, 01:02 PM

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QUOTE(Veda @ Sep 16 2010, 12:16 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?
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.
MilesAndMore
post Sep 17 2010, 08:36 PM

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QUOTE(Veda @ Sep 17 2010, 03:40 PM)
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.

MilesAndMore
post Sep 18 2010, 04:31 PM

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QUOTE(Veda @ Sep 18 2010, 03:40 PM)
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.
What do you mean ? You mean only with a huge outstanding loan without the RM200k deposit to become their Premier customer ? I think they do. Not exactly sure how much is your outstanding loan must be to enjoy Premier service for free though.

As for Standard Chartered, you can enjoy Priority Banking services for free if you have an outstanding loan with them of RM850k.


QUOTE(Veda @ Sep 18 2010, 03:40 PM)
I like HSBC for its first class service but Standard Chartered offers innovative products and are generous in giving out loans.
I've heard many people saying so. That Standard Chartered offers many innovative products. All i know is that they are pretty generous with deposit interest rate but that's it. Anyone cares to share what are the innovative products everyone has been talking about ? Does it all yield a very good return on your money ?

This post has been edited by MilesAndMore: Sep 18 2010, 08:41 PM
MilesAndMore
post Sep 28 2010, 11:01 PM

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QUOTE(JamesPond @ Sep 28 2010, 10:00 PM)
priority means..no need to queue.
cut the queue all the time..
Not necessarily true all the time. Sometimes these Premier/Priority/CitiGold customers still have to wait for their turn.


QUOTE(chemistry @ Sep 28 2010, 10:08 PM)
To my knowledge, CIMB's Prime Plan also offers priority banking service, including cash withdrawal/deposit at the counter smile.gif
Still need to take number and wait though. It probably will be your turn faster if you're at Public Bank even just as a regular banking customer laugh.gif

MilesAndMore
post Sep 29 2010, 12:46 PM

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QUOTE(wirelessdude @ Sep 29 2010, 01:00 AM)
You get to cut queue if you're using the normal counters at HSBC.

Isn't there one teller inside all the HSBC Premier centre ? Just stand there and wait for your turn (if someone is already at the counter).


QUOTE(wirelessdude @ Sep 29 2010, 01:00 AM)
But if you want to see the RM without an appointment, you usually have to wait. I asked the Branch Manager before the number of clients each RM serves, and he said "...we try to limit each RM to 200 clients".
It's going to be very hard to enforce such rule in a city with only one branch though biggrin.gif


QUOTE(gark @ Sep 29 2010, 09:08 AM)
Sometimes, priority customers do need to wait if there are lots of priority customer. However, so far it is much much faster/convenient than the counter. And also you get nice comfy chairs, free newspaper to read and free good quality coffee/tea available while you are waiting for your turn or transaction to complete and your RM fills in all your forms etc.. Beats waiting for a queue number and standing at the counter.    laugh.gif rclxms.gif
HSBC Premier centres in Hong Kong provide real cappucino/espresso machine thumbup.gif


MilesAndMore
post Sep 29 2010, 01:40 PM

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QUOTE(JamesPond @ Sep 29 2010, 01:29 PM)
I dont go HK and wont do the banking there oso..
prime plan is too common.
I want something that is so limit. but very sad i got no money
CIMB Preferred Banking requires only RM150,000 to maintain the status. Alternatively, you might want to consider Standard Chartered Preferred Banking. The requirement is even lower.

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post Sep 29 2010, 05:20 PM

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QUOTE(gark @ Sep 29 2010, 03:09 PM)
Hmm I saw the standard charted Preferred Banking, it is more of a lite version of their priority banking, similar to CIMB Prime?  hmm.gif
Yes. Something like that i guess but you need to keep RM72,000 in Standard Chartered at all times to avoid being charged the account maintenance fee. Not exactly sure what's the rule like for CIMB Prime.
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post Oct 1 2010, 09:07 PM

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QUOTE(chemistry @ Oct 1 2010, 08:59 PM)
Hi,

In the list of fees and charges of CIMB Prime Account, there is an item stating as below:

Interbranch Current Account Cash Withdrawal (for individual account only)  RM5 per transaction

Do you have idea what it means?
Let say you opened the CIMB Prime Account at CIMB Bank KLCC branch, it means the CIMB Bank KLCC branch is your account holding branch. When you make an over-the-counter withdrawal at another CIMB Bank branch, say CIMB Bank Starhill branch. You will be charged RM5 per withdrawal.

MilesAndMore
post Oct 1 2010, 09:26 PM

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By the way, CIMB Bank also charge RM10 for the closure of all types of current account after 3 months from its opening date. Many other banks allow you to close your current account free of charge provided you only close it 3 months later.
MilesAndMore
post Oct 1 2010, 10:17 PM

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QUOTE(chemistry @ Oct 1 2010, 10:09 PM)
I see... So there is no such priority queuing in fact. The priority is paid anyway.
This I really never realized! Thanks for pointing out! It seems only closure of CIMB Basic accounts are exempted from the fee.
By the way, the Preferred Current Account and Regular Current Account seem to have this unwaivable half yearly service charge. This really makes their current account much less attractive compared to other major banks with huge current account base such as Maybank and Public Bank.

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post Oct 1 2010, 11:03 PM

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QUOTE(chemistry @ Oct 1 2010, 10:31 PM)
I'm not worried about that half yearly service charge (aka maintenance fee?) because DA's Premier Plus Acc and Prime Plan can waive it.

Half yearly service fee is one thing. Maintenance fee is another thing.


QUOTE(chemistry @ Oct 1 2010, 10:31 PM)
I just noticed that Prime Current Acc and DA Current Acc don't have such HALF YEARLY SERVICE CHARGE. Only Regular current account got.
Preferred Current Account has no maintenance fee but it has this half yearly service fee which seems unwaivable. You also have to pay RM10 just to close the account after 3 months of using it.


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