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henrylbh

henrylbh

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hwarzoner said:
for scb priority customer, if below 200k, will priority status be removed?
Click to expand...

Why bother with priority? My sis and fren became priority the day they opened accounts. After that, the accounts remained with low balances for a long time and they still are. Only Cimb bothers to send advice to maintain balance, but their interest cannot one.
 
yiron

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Odd. I cannot transfer between my own accounts, but no issue transferring to other banks.
 
magnesium1

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NietBelangrijk said:
I have had mine below 200k quite often as I move between Maybank and occasionally open a fixed deposit with other banks but never received any comments about it from my Relationship Manager or the bank itself.


Perhaps if the total relationship balance has been well below 200k for a long time.
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Sorry for the noob questions.
How do you convert your account to Priority?
Did you transfer 200k and the account was automatically converted after x days or did you need to contact CSO?
 
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crystalnox

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demoforce1

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NietBelangrijk said:
Once I reached 200k, after a while (can't remember exactly how long) I suddenly got a Priority welcome kit mailed to me and some Relationship Manager introducing herself. That was in 2017.

I make very little use of the Priority perks... For me the best part is the increased interest rates on their SGD fixed/time deposit (0.10% extra, but my RM offered me more once when I asked).
Occasionally meet up with RM for a free coffee and chat but this often turns into a sales pitch :s8:

I am considering using SCB as a stock broker since Priority have no minimum commission (on local trades only, I believe). Still looking into that.


And to respond to the "Why bother with priority?" question asked earlier;
For me I didn't bother. It just happened as my balance grew and I think it is a nice extra but pointless if you don't really take advantage of it.
I wouldn't lose any sleep if they removed me from the programme but I like it while I have it.
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thanks for sharing, not aware of no minimum commission
 
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vsvs24

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1scape said:
maybe back to maxigain?
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Not Maxigain. After change of tnc about 1.45%.

I suppose now left with Maybank isavvy or HSBC EGA or FD if you don't want to move funds.

Those age 18 to 26 can go for jumpstart for upto 2%.
 
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vsvs24

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NietBelangrijk said:
Once I reached 200k, after a while (can't remember exactly how long) I suddenly got a Priority welcome kit mailed to me and some Relationship Manager introducing herself. That was in 2017.

I make very little use of the Priority perks... For me the best part is the increased interest rates on their SGD fixed/time deposit (0.10% extra, but my RM offered me more once when I asked).
Occasionally meet up with RM for a free coffee and chat but this often turns into a sales pitch :s8:

I am considering using SCB as a stock broker since Priority have no minimum commission (on local trades only, I believe). Still looking into that.


And to respond to the "Why bother with priority?" question asked earlier;
For me I didn't bother. It just happened as my balance grew and I think it is a nice extra but pointless if you don't really take advantage of it.
I wouldn't lose any sleep if they removed me from the programme but I like it while I have it.
Click to expand...

The reason why I don't go for banks even though they offer lower commission is that the banks will be custodian of the shares, not CDP.

I only appreciate priority status when I need to go to the bank to queue up eg Chinese new year change new notes or last year $20 Bicentennial notes.
 
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xtinkz

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Another perk with being a SCB priority is that you also get the free enrollment into Priority Pass for airport lounges. The number of free entries per year is capped at x24 which is still pretty generous. If u +wife are members then you could utilise the lounges on your personal holidays for a family of 4 (I assume most travel econ on personal holidays that don't entitle you to biz lounge, or not a PPS/ Gold frequent flyer holder). One of the best perks I enjoyed with scb, the other being the 'once in a blue moon's free atas tarts that they gave out last year.



vsvs24 said:
The reason why I don't go for banks even though they offer lower commission is that the banks will be custodian of the shares, not CDP.

I only appreciate priority status when I need to go to the bank to queue up eg Chinese new year change new notes or last year $20 Bicentennial notes.
Click to expand...
 
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vsvs24

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xtinkz said:
Another perk with being a SCB priority is that you also get the free enrollment into Priority Pass for airport lounges. The number of free entries per year is capped at x24 which is still pretty generous. If u +wife are members then you could utilise the lounges on your personal holidays for a family of 4 (I assume most travel econ on personal holidays that don't entitle you to biz lounge, or not a PPS/ Gold frequent flyer holder). One of the best perks I enjoyed with scb, the other being the 'once in a blue moon's free atas tarts that they gave out last year.
Click to expand...

How to get enrolled for Priority Pass ? Must approach RM ? X24 is attractive. Priority pass from credit card only 2X.
 
doody_

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vsvs24 said:
The reason why I don't go for banks even though they offer lower commission is that the banks will be custodian of the shares, not CDP.

I only appreciate priority status when I need to go to the bank to queue up eg Chinese new year change new notes or last year $20 Bicentennial notes.
Click to expand...

There's not much difference between a bank and CDP, just a choice of which company you prefer.
 
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vsvs24

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doody_ said:
There's not much difference between a bank and CDP, just a choice of which company you prefer.
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I prefer the freedom of not having my shares tied to one bank. And there is always the issue of what if the bank collapse. Not sure if covered by SDIC. With CDP I can go to any broker to sell. I can choose to transfer my shares. Btw, those whose shares are with custodian banks like SC, can they attend AGM ? What is the process ? With CDP, I just walk in with IC if I feel like going that day.
 
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crystalnox

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vsvs24 said:
I prefer the freedom of not having my shares tied to one bank. And there is always the issue of what if the bank collapse. Not sure if covered by SDIC. With CDP I can go to any broker to sell. I can choose to transfer my shares. Btw, those whose shares are with custodian banks like SC, can they attend AGM ? What is the process ? With CDP, I just walk in with IC if I feel like going that day.
Click to expand...
You are aware that most of the rest of the world works on the custodian model just fine right?
 
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