Hi, this month I also become a new CIMB Preferred too, and they gave me the Visa Infinite pre-approved, no documents, no question asked.

Basically I went in as a normal customer to put in their promo 4.4% for 6 months for a good amount of money, and they upgraded me straight + Visa Infinite.

Just got an SMS that the card got approved, and i did not submit any documents for it.

I think the benefits of Priority Banking are:

1) Cut Q - its not super extraordinary or anything, but given a choice everyone would like it for free.

2) Higher interest rates - The most competitive interest rates are usually given to PB customers, be it FD Promo or PB account. Again, its something that everyone would like to have access if they can have it for free.

3) High level credit card - if you travel a lot, this can be very useful for you. Usually involves free lounges in airport, bonus points as compared to ordinary card etc.

I think you shouldnt just leave money at the bank for the sake of attaining PB, but money is a good tool and option to have, in addition to the additional perks of being a PB.

For myself, while i am waiting for the right investment opportunity, i am much better off with access to PB rather than not. If i am stuck with ordinary accounts, I make less money on my money thats sitting in the bank anyways. And i have to Q during rush hours. While I see nothing wrong with Q-ing, I certainly wouldnt mind a free walkover to the counter either.

So yeah, ultimately your financial goals should have no correlation upon attaining PB or no. If you can use the money right away for business, great. But not everyone wants to use the money right away. There are times where its a lot better to just wait on the sidelines for a good opportunity, and that usually involves a lot of patience and waiting.

But, if your financial goals happen to coincidentally work along with side of PB, theres no doubt you can make good use of it.

I have Maybank and CIMB at the moment, mostly after good short term FD/saving rates for now. Also i like the bonus of having their top credit card, they look awesome =)

CIMB has the best FD rate in town at the moment, i am parking most of my funds there now. But Maybank is my "base" cos i have a lot of credit card tied to them, easier for card payment etc

I dont see why if you have 200k in your bank, and transferring it to yourself in another would triggers anything if it havent already not.

If your money is clean, theres nothing to worry even if you moved across yourself within 10 banks.

If it has issues at the first place, you park in 1 bank also gov can detect.

Lets say u received 200k from a dividend payout from company A. Company A had paid taxes on the whatever profit made and declared a 200k dividend to you. Yes, the money is clean and free to park and use anywhere you deem fit without any worry!