HWZ Forums

Login Register FAQ Mark Forums Read

Consolidated thread for Priority/Privilege Banking

Like Tree211Likes
Reply
 
LinkBack Thread Tools
Old 16-09-2013, 11:17 AM   #1
Member
 
Join Date: Jun 2005
Posts: 410
Consolidated thread for Priority/Privilege Banking

tot of starting a new thread to compare the pros/cons between the priority banking between different banks.

General points to note:
-These are the relationships that are generally min 200k to max half a million.
-Should exclude those higher tier such as DBS Treasures private client, UOB PV Reserve (PVR)
-Should exclude the lower tiers such as SCB Preferred Banking, HSBC advance
- When discussing CC benefits, should only include the CC tagged to the account, eg. HSBC Premier will be the HSBC Premier MC card and not the HSBC Visa Infinite card

Format as follows:

Bank:
Minimum Assets Under Management(AUM):
Fall below fee charged: Yes/No
Downgrade if AUM not met: Yes/No
Pros:
Cons:
lalaisgongon likes this.

Last edited by qwertyuiop59; 16-09-2013 at 11:33 AM..
qwertyuiop59 is offline   Reply With Quote
Old 16-09-2013, 11:21 AM   #2
Member
 
Join Date: Jun 2005
Posts: 410
Let me start the ball rolling as well

Bank: SCB
Minimum Assets Under Management(AUM): 200K
Fall below fee charged: Yes, $50 per month
Downgrade if AUM not met: Yes
Pros: PP pass with unlimited use
Cons: -
Godmode and lalaisgongon like this.
qwertyuiop59 is offline   Reply With Quote
Old 16-09-2013, 02:38 PM   #3
Senior Member
 
Join Date: Jan 2008
Posts: 504
Bank:Citibank (citigold)
Minimum Assets Under Management(AUM):200k
Fall below fee charged: Yes
Downgrade if AUM not met: Not Sure
Pros: Citigold lounge at paragon( Coffee, cookie, Resting area),some parking redemption at paragon. Citi Prestige extra bonus points. Overseas recognition AMK Hub, Tampines etc you too can have free parking (by giving you HDB parking coupons).
Cons:Rates are never the best.


Bank:Ocbc Premier
Minimum Assets Under Management(AUM):200k
Fall below fee charged: Yes
Downgrade if AUM not met: Not Sure
Pros: World elite World mastercard. Concierge from CC. FCD ( foreign currency deposit) are one of the best around
Cons:
chopra, qwertyuiop59 and Godmode like this.

Last edited by lalaisgongon; 17-09-2013 at 02:02 PM.. Reason: Updated
lalaisgongon is offline   Reply With Quote
Old 16-09-2013, 02:39 PM   #4
Senior Member
 
Join Date: Jan 2008
Posts: 504
tot of starting a new thread to compare the pros/cons between the priority banking between different banks.

General points to note:
-These are the relationships that are generally min 200k to max half a million.
-Should exclude those higher tier such as DBS Treasures private client, UOB PV Reserve (PVR)
-Should exclude the lower tiers such as SCB Preferred Banking, HSBC advance
- When discussing CC benefits, should only include the CC tagged to the account, eg. HSBC Premier will be the HSBC Premier MC card and not the HSBC Visa Infinite card

Format as follows:

Bank:
Minimum Assets Under Management(AUM):
Fall below fee charged: Yes/No
Downgrade if AUM not met: Yes/No
Pros:
Cons:
Great Job, Should start one for high tiers one as well!
lalaisgongon is offline   Reply With Quote
Old 16-09-2013, 02:39 PM   #5
High Supremacy Member
 
reddevil0728's Avatar
 
Join Date: Dec 2005
Posts: 29,813
Bank:Citibank (citigold)
Minimum Assets Under Management(AUM):200k
Fall below fee charged: Yes
Downgrade if AUM not met: Not Sure
Pros: Citigold lounge at paragon, ( some parking ). Citi Prestige extra bonus points.
Cons:


Bank:Ocbc Premier
Minimum Assets Under Management(AUM):200k
Fall below fee charged: Yes
Downgrade if AUM not met: Not Sure
Pros: World elite World mastercard. Concierge from CC.
Cons:
wats there inside the lounge?
__________________
Whatever floats your boat...
reddevil0728 is online now   Reply With Quote
Old 16-09-2013, 02:43 PM   #6
Senior Member
 
Join Date: Jan 2008
Posts: 504
wats there inside the lounge?
Nothing much? a nice place just to wait and have a cup of coffee while they settle your banking needs like the rest of the PP banking places. Although the citigold one looks really nice.

Updated as well.
lalaisgongon is offline   Reply With Quote
Old 16-09-2013, 05:47 PM   #7
Master Member
 
Join Date: Apr 2012
Posts: 3,347
HSBC Premier

Asset requirements: 100K USD total assets under management (current/savings/brokerage account), different limits in different countries.
Fall below fee charged: Yes, $50/mo
Downgrade if AUM not met: Yes, to different tiers

Pros:
- Global transfers between accounts on different countries. Access to HSBC ATM is many countries w/o ATM withdrawal fees.
- Airport lounge access in various airports (HKG, IST and some others)
- US account holders: Global World Mastercard coming with 40K bonus points which can be transferred either to AsiaMiles or KF, no annual fee for the card for primary and supp card holders. No foreign transaction fees. During certain period (March to September) card earns double miles for any eligible transaction.
- US account holders will get local World Premier MC in other countries too.

Cons:
- While Global Transfers are available, rate is not only unattractive, but quite unfavorable for account holder. One would be better to use wire transfer between accounts. To use the best rate min $50K USD funds are required to be allocated.
- Completely incompetent clerks and CSOs both in Singapore and US - you have to do your own due diligence all the time.
- Airport lounges are worse than most airline lounges. If one has elite status (Star Alliance Gold for example) you would be better to go in lounges offering better service and amenities.
invisible999 is offline   Reply With Quote
Old 16-09-2013, 05:58 PM   #8
Senior Member
 
Join Date: Jan 2008
Posts: 504
HSBC Premier

Asset requirements: 100K USD total assets under management (current/savings/brokerage account), different limits in different countries.
Fall below fee charged: Yes, $50/mo
Downgrade if AUM not met: Yes, to different tiers

Pros:
- Global transfers between accounts on different countries. Access to HSBC ATM is many countries w/o ATM withdrawal fees.
- Airport lounge access in various airports (HKG, IST and some others)
- US account holders: Global World Mastercard coming with 40K bonus points which can be transferred either to AsiaMiles or KF, no annual fee for the card for primary and supp card holders. No foreign transaction fees. During certain period (March to September) card earns double miles for any eligible transaction.
- US account holders will get local World Premier MC in other countries too.

Cons:
- While Global Transfers are available, rate is not only unattractive, but quite unfavorable for account holder. One would be better to use wire transfer between accounts. To use the best rate min $50K USD funds are required to be allocated.
- Completely incompetent clerks and CSOs both in Singapore and US - you have to do your own due diligence all the time.
- Airport lounges are worse than most airline lounges. If one has elite status (Star Alliance Gold for example) you would be better to go in lounges offering better service and amenities.
What is this Global World Mastercard? can elaborate more on features? what about singapore account holders?
lalaisgongon is offline   Reply With Quote
Old 16-09-2013, 06:08 PM   #9
Master Member
 
Join Date: Apr 2012
Posts: 3,347
What is this Global World Mastercard? can elaborate more on features?
Here is US version information

what about singapore account holders
Here is Singapore version

Singapore version does not offer any advantages (to me) - they offered to open Singapore version and I declined. I do not even use US version because other US card and/or some other Singapore cards (UOB PPV, DBS Altitude) offer better options (like 10X UNI$).

Last edited by invisible999; 16-09-2013 at 06:11 PM..
invisible999 is offline   Reply With Quote
Old 16-09-2013, 06:18 PM   #10
Senior Member
 
Join Date: Jun 2006
Posts: 1,142
Any high tier privilege banking like $500k with some really great features like high intest rate and access to some high yield bonds or private investments?
Godmode is offline   Reply With Quote
Old 16-09-2013, 08:28 PM   #11
Senior Member
 
Join Date: Jan 2008
Posts: 504
Here is US version information


Here is Singapore version

Singapore version does not offer any advantages (to me) - they offered to open Singapore version and I declined. I do not even use US version because other US card and/or some other Singapore cards (UOB PPV, DBS Altitude) offer better options (like 10X UNI$).
Thank you i think its know as the Premier world mastercard. you are right, this card has been around for sometime, but i heard that premier cust gets the hsbc visa infinite for free too!
that has all the perks!
lalaisgongon is offline   Reply With Quote
Old 16-09-2013, 08:29 PM   #12
Senior Member
 
Join Date: Jan 2008
Posts: 504
Any high tier privilege banking like $500k with some really great features like high intest rate and access to some high yield bonds or private investments?
i think the next tier is 1m. or 1.5m. dont think 500k and above makes a difference as a whole.
but if i am not wrong, you get better rates when you invest in a lump sum, meaning 500k will get you better rates than 2 250k.
lalaisgongon is offline   Reply With Quote
Old 16-09-2013, 09:45 PM   #13
High Supremacy Member
 
Join Date: Apr 2003
Posts: 44,179
Nothing much? a nice place just to wait and have a cup of coffee while they settle your banking needs like the rest of the PP banking places. Although the citigold one looks really nice.

Updated as well.
at least better than dbs treasures which offers you pathetic kopi O.
chopra is offline   Reply With Quote
Old 16-09-2013, 10:20 PM   #14
Senior Member
 
Join Date: Jan 2008
Posts: 504
at least better than dbs treasures which offers you pathetic kopi O.
About the same eh... I dont think its much different. but heard DBS treasures just up to 350k.
lalaisgongon is offline   Reply With Quote
Old 16-09-2013, 10:37 PM   #15
High Supremacy Member
 
Join Date: Apr 2003
Posts: 44,179
Any high tier privilege banking like $500k with some really great features like high intest rate and access to some high yield bonds or private investments?
I have the same question too. Thought comparing the basic interest rate would be the primary reason why we park $$$ there.
chopra is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On

Samsung
Play & Win