Any CIMB RM to recommend?

The last I checked, 3 months back, I contacted the call centre for one of their credit cards which gives lounge access. The call centre said I needed to be a PB first. In order to be PB, minimum AUM is RM250k. That was 3 months ago.

I used to be a PB with CIMB many years back, then withdrew my funds. I used the PB member card (no expiry date) for a while for lounges, until CIMB decided to renew the card. Then I couldn't use it anymore.

Anyway, I have opened a Maybank sg account last year. But CIMB lounge access is still one of the better ones regionally.

Seriously I don't see a big difference being a Preferred or non Preferred customer of CIMB...

Yes

So one does not need to go down to Singapore right? They will send you the atm card, everything right?

If like that, that's going to make my life easier.

Put priority banking, open SG account, one month later remove priority banking.

May I know why you need an account in SG?

Simple. As a backup plan. As Unker dreamer said, one should not hold lots of MYR and don't keep too much cash in malaysia. Having a foreign currency account in Malaysia is still the same as having a normal account in malaysia. The money is still in malaysia. You never know when they can restrict how much you can bring out like what happen in Argentina. If that were to happen, is too late.

Don't forget that now MYR is in a low value, so if you are going to transfer your $ to SG, you are buying SGD with a high price.

Note: You may also want to engage the RM in Spore got a good florex rate.

It won't be now. Maybe 3 years time. Need to gather my money first.

Tun.. haha make sure u graduate uni also before thinking all this

Young people (not even graduated yet) nowadays thinking about priority banking

After graduate then what ? Setup private investment banker home office ?

I see... I thought u need an account in SG for other purposes

The AUM is still the same 250k listed in the website.
Was told of the promo with reduced AUM to 150k when attended an event last month held by CIMB PB. Was telling us to reco PB customers . Not sure if that promo was just for that event only or not.

Luckily have CIMB to fall back for unlimited, no conditions attached for lounge access to the region. Never need to use it until Alliance withdrew their unlimited entry, no conditions attached for their Priority Pass card Other banks' access to Msian lounges are almost useless for me

I don't know but my guess is - Tak boleh lah..Must go to S'pore to open the account. After that, should be able to operate your account remotely from outside of S'pore. CIMB Spore and CIMB Msia are 2 different entities.

Someone told me that by rule of thumb, the sender bank should give better forex rate than receiving bank.
Is this true? anyone has any experience in this?

Bank Ramjade
CEO - Himself
Operator - Himself
Private Bank Customer - Himself (AUM - secret.. )



This post has been edited by Bonescythe: Jan 19 2016, 01:46 AM

that's my understanding as well but i have heard of stories that it can be done entirely locally provided one's connected well enough. shhhhh...

This i believe.

I do not know which bank allows you to do that. Some don't. You still need to go Singapore.

try being a PB first and them ask your RM on any ways to go about it.
if response not favourable, jump ship to a bank or RM that does.

Try Maybank
http://www.maybank2u.com.my/en/personal/de...ings/savvy.page
I did mine a few years back, without stepping foot in Singapore. This account not popular, many Maybank staff also don't know about this.


Also heard, if you have enough $ to join Singapore bank priority banking, also don't have to go down; they will send all necessary forms for you to sign or via email. If you are in big cities like KL or Penang, they can come down and get all forms signed .. but .. need 3X of AUM then Malaysia bank because of our weak currency.

OCBC RM can do it for you locally. However transfer in funds in batches only as BNM is monitoring.

Sorry for asking. But what's wrong with say transfer one shot rm500k and write purpose for investment? There's paper trail and it's your own money. (sorry if the value is rm500k - too small for you guys here ) What's bnm going to do? Stop your transfer?

Btw, what's the max limit you recommend if one have a PB status and intend to transfer in batches?