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 Priority Banking, Everything about Priority Banking

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qu3vax
post Feb 7 2020, 12:39 AM

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QUOTE(Prodeck @ Feb 6 2020, 06:01 PM)
Hi,

Is there any premier banking that i can transfer my funds to that has high interest and provides credit cards (free lounge access for main and supp) with minimal docs?
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i am also currently doing research as well and of course base on what i have and what i need.
so no perfect answer on that, its all depend on your aum (long term/ flexibility?) and defination of high interest.
sometime premier or not premier is not really a necessary.

mind to share yours?


QUOTE(privatequity @ Feb 6 2020, 06:07 PM)
Hi All,

I've been using Maybank Premier Wealth, would prefer to put my funds in account instead of FD due to flexibility. In Maybank Premier Wealth, above Rm500,000, they only give 2.3% interest.

I've come across CIMB Preferred, above RM1 million, they provide 3%. It is high compared to 2.3%. However, I have come across other foreign banks such as OCBC offers even higher interest rate.

All these while I've been using Maybank Premier because I would perceive it would be more convenient as I'm a local, as in funds transfer etc. If foreign bank provides significantly higher interest, I might consider to move my funds there.

Can anyone who has experience or account owner may share your opinion please? Thank you!
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alliancebank, saveplus account, 3.25% >200k.

as i said sometime pb doesnt really gain anything.
while mbb pb doesnt have much benefit imho haha~

for your case above 500k. i would suggest,
100k into sc privilege saver(4% with minimal condition), 100k into ocbc (3.6% with more work than scb), 300k into alliance(3.25% do nothing).


This post has been edited by qu3vax: Feb 7 2020, 12:45 AM
qu3vax
post Feb 7 2020, 01:35 AM

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QUOTE(ProxMatoR @ Feb 7 2020, 01:06 AM)
ocbc can 200k.  icon_idea.gif
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ya ho. forgot the -i. haha...then ngam ngam good

100k scb, 200k ocbc, >200k all alliance.
qu3vax
post Feb 7 2020, 01:44 PM

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QUOTE(privatequity @ Feb 7 2020, 11:15 AM)
Hi bro,

thanks for your suggestion. Will take a look at alliance bank saveplus acc, 3.25% looks attractive. Also, thanks for your advice in my another post, I do not need premier banking services, I would prefer accounts with higher interest. Earlier, I thought premier banking shall offer higher interest compared to normal accounts, I was wrong.
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oh, yaho, same person. haha sorry.
initially i thought premier banking get higher too as well then after research seems like it's not. then i came across this saveplus, less hassle.
but of course ocbc got the highest by doing nothing but >10m shocking.gif

i think ppl with more than 10m in term of flexible cash in account exclude their investment/properties would have their higher perspective or already declared financial freedom. biggrin.gif
qu3vax
post Apr 26 2020, 01:23 AM

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QUOTE(hksgmy @ Apr 21 2020, 10:41 AM)
Hello guys. Do you by any chance have the equivalent information about Maybank and cross-recognition?

I have a private banking/premier wealth banking account with Maybank Sg, and I have a nominal amount in very old "normal" Maybank account in My (which was from my SMK days in Malaysia some 40 years ago). The Maybank account in Malaysia was converted into an Islamic banking account (which pays no interest) from the previous current account. I've asked on the side of Singapore, who referred me onto their Malaysian counterpart dealing with off-shore banking. This was just before COVID19 struck. Since then, everyone's been working at home, and the Malaysian lady hasn't been able to help clarify my queries.

Essentially, I only have about RM250,000 in the Malaysian account, and that doesn't automatically qualify for premier status. If they have cross-recognition with Maybank SG, then qualifying for premier status wouldn't be an issue. Otherwise, I'll have to convert some SGD into RM.

Thanks in advance!
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It's not auto to become premier wealth. i didnt realize i have more than enough to entitle for the premier wealth banking until my RM convert my account (premier 1 current account) into premier wealth(interest higher). i remember i did sign something, i think is something related to the premier wealth debit card, well doesnt matter since u might not need it during CCB period.

my suggestion is, you need a RM, try to call the branch(must be that branch) where u opened ur account, u have fulfilled 250k aum, get a RM and try convert it manually. Maybe they can do it, just try.

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