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 Priority Banking, Everything about Priority Banking

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jack2
post Aug 30 2017, 12:48 PM

Mr
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QUOTE(ikanbilis @ Aug 8 2017, 06:46 AM)
Try POSB. They have quite good services. Internet banking also very convenient. Yesterday I transferred some money Fr my POSB to my Malaysian bank account with no fees and fund reach within the same day. rclxms.gif
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How to open for non-Singaporean? Need physical attendance?

Able to have USD account?

jack2
post Aug 17 2020, 01:29 PM

Mr
********
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Which bank offer premier banking that allows opening bank account with their oversea branches?

Requirement? FD 200k?
jack2
post Jan 5 2021, 02:37 PM

Mr
********
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Joined: Oct 2004
I want to open premier banking account. Anyone?
jack2
post Jan 5 2021, 02:59 PM

Mr
********
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Joined: Oct 2004
QUOTE(GrumpyNooby @ Jan 5 2021, 02:39 PM)
Which bank?
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The best with free coffee... cool2.gif
jack2
post Jan 14 2021, 12:25 PM

Mr
********
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Just opened SBC privileged client...huhu
jack2
post Jan 15 2021, 07:49 AM

Mr
********
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15,192 posts

Joined: Oct 2004
QUOTE(GrumpyNooby @ Jan 14 2021, 12:30 PM)
How's the coffee? Nice?
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QUOTE(Cookie101 @ Jan 14 2021, 09:30 PM)
No. They don’t do retail banking in US. Only commercial banking in US And Europe.

As a priority, you already save on the commission and discounted rate. Even better if you book a deal through your RM.
MCO period don’t serve anymore 😂

Otherwise their coffee seems pretty decent
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That is bad that SCB is not near to my place. It needs 30 mins travel time to travel to the nearest branch.

I should get HSBC instead
jack2
post Jan 20 2021, 11:06 AM

Mr
********
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Who wanna be SCB Priority customer, may PM me...
jack2
post Feb 3 2022, 11:13 AM

Mr
********
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QUOTE(cklimm @ Feb 3 2022, 11:07 AM)
Thats the perks@work, great if your employer is using HSBC to credit your salary.
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what is the advantages if the employer is using HSBC to credit salary?
jack2
post Jul 12 2023, 11:12 PM

Mr
********
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QUOTE(gooroojee @ Apr 7 2023, 12:27 PM)
Perhaps one benefit worth going for - SCB premier banking customers can get up to RM0, and 0.00% brokerage fees for trading on Smart Stocks:

user posted image
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lousy one
jack2
post May 6 2024, 02:23 PM

Mr
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QUOTE(hksgmy @ May 6 2024, 01:57 PM)
I got asked a question by another forum user via private message, but I thought it was a useful question - and since I didn't have a direct answer for him, I'd share my answer and invite others to chip in:

Here's my answer:

Hi, sorry I'm not priority status with SCB here in Singapore (where I'm based). I have priority/premier/privilege status with:

1. OCBC (Premier Dividend Private) - it's a step up from Premier, but a step down from full Private banking - that's only in Singapore

2. HSBC (you choose your country to base the minimum AUM, and the minimum AUM varies per country. In Singapore, it's SGD250,000 for in Australia, it's only AUD200,000 - so I transferred from being domiciled in Singapore, to being domiciled in Australia). However, for HSBC, in order for you to be domiciled somewhere, you need to demonstrate reasons. Eg. studies in the UK (domicile in UK). In our case, we are PRs of Australia, so they accepted the transfer, although we are still based and work in Singapore

I'm normal status with Citibank, SCB

I bank privately with UOB, Maybank and DBS

I have priority/premier/privilege status with:

1. OCBC (Premier Dividend Private) - it's a step up from Premier, but a step down from full Private banking - that's only in Singapore, and AFAIK, OBCB Wing Hang in HK does not have any automatic tie up access with OCBC in Singapore.

2. HSBC (you choose your country to base the minimum AUM, and the minimum AUM varies per country. In Singapore, it's SGD250,000 for in Australia, it's only AUD200,000 - so I transferred from being domiciled in Singapore, to being domiciled in Australia). However, for HSBC, in order for you to be domiciled somewhere, you need to demonstrate reasons. Eg. studies in the UK (thus you can be domiciled in UK). In our case, we are PRs of Australia, so they accepted the transfer of primary Premier account to Australia, although we are still based and work in Singapore.

I'm normal status with Citibank, SCB - hence I don't know if you can open an SCB account in HK from Malaysia, and whether you'll need to maintain the minimum required AUM separately, or does SCB do it like how HSBC does.

If anyone has the answer to this, I'm sure the forum user would be grateful.
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I also got the PM. But I really dunno.

jack2
post May 6 2024, 02:30 PM

Mr
********
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QUOTE(Ramjade @ May 6 2024, 02:27 PM)
I got answer from SCB Malaysia. Your priority does not extend beyond the country your account is in.
If you have priority with SCB Malaysia, they can help you open SCB account. But it must be priority with SCB Singapore as well.

How true. I don't know. Maybe they are bluffing me also.

Anyway I will never use any priority banking as I see no reason to park money with the banks.
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After you join their priority banking, they will start to introduce you loss-making investments and if you bodoh2 believe, then
jack2
post May 6 2024, 02:36 PM

Mr
********
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QUOTE(hksgmy @ May 6 2024, 02:34 PM)
Not every suggestion is a loss making venture la, to be fair… but I would stay clear of ILP and insurances and unit trusts if possible.

Bond funds, maybe to get a foot in if you can’t afford a whole bond.
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my both funds with Sx all loss-making nearly 40%.

Then why I never trust them anymore and tell them go to fly kite.

This post has been edited by jack2: May 6 2024, 02:37 PM
jack2
post May 6 2024, 02:40 PM

Mr
********
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QUOTE(polarzbearz @ May 6 2024, 02:35 PM)
Joining priority banking != must follow their advice.

My RM gave up persuading me laugh.gif

There are also free ways to enjoy premier/priority banking without commitment (i.e. i technically skipped the 200K AUM requirement)
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how?

 

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