Consolidated thread for Priority/Privilege Banking

[banyan8]

I just checked with the Citi acquisition manager and she told me that the payout will come in Aug for this loyalty promo.

Is the SingSaver email of iPad redemption sent out within 4 months after the 90 days of depositing 250k? If so, will be quite long..

 

[lumpyme]

what is the benefit of signing up with citigold?
deposit 250k and leave the money there to earn interest?

 

[Panerex]

- $300 for depositing $250k
- $300 for new/existing credit cardholder
- $300 for online account opening (Singpass)
They still have many more rewards if you do more like invest/insure/home loan.

T&C here:
https://www.citibank.com.sg/global_docs/pdf/CG-wc-promo2.pdf

is this considered as a good deal?

I was informed If I sign up today, I will have up till end Sep to deposit the $250k, and keep it until end Dec to qualify.

so Technically, $900 for locking in $250K for 3 months translating to 1.5%pa.

 

[QNH1013]

what are the benefits of scb priority banking??

they gave me free WSJ subscription as well, enjoying it so far

 

[Alwaysb]

Hi All,

I am lost about this promo. I saw singsaver running this promo giving away the ipad Air. Is that the 10.9" latest model? Whats the catch? Can any kind soul guide, step by step please.

 

[belgarathc]

is this considered as a good deal?
I was informed If I sign up today, I will have up till end Sep to deposit the $250k, and keep it until end Dec to qualify.
so Technically, $900 for locking in $250K for 3 months translating to 1.5%pa.

actually doesn't look that good a deal to me. locking 250k at 0.1% interest for 3 months and getting an ipad plus maybe $600-$900.

fall below fee of $50. account minimum balance is 15k.

or are there any worthwhile benefits of citigold? for scb priority, I find the no minimum brokerage fees and priority pass useful.

 

[arctician]

actually doesn't look that good a deal to me. locking 250k at 0.1% interest for 3 months and getting an ipad plus maybe $600-$900.

fall below fee of $50. account minimum balance is 15k.

or are there any worthwhile benefits of citigold? for scb priority, I find the no minimum brokerage fees and priority pass useful.

there is a sign up offer of $900 and $600 referral for citigold, i will say its more than worth it.

i just dropped out of SCB priority because i find the 0.18% too high, used to be the best 10 years ago but disruption has set in, now tiger, moomoo, fsm, poems, DBST offer 0-0.12% max, priority pass i can continue keeping even without priority status at 4 entry per year, though no use for it now

 

[belgarathc]

there is a sign up offer of $900 and $600 referral for citigold, i will say its more than worth it.
i just dropped out of SCB priority because i find the 0.18% too high, used to be the best 10 years ago but disruption has set in, now tiger, moomoo, fsm, poems, DBST offer 0-0.12% max, priority pass i can continue keeping even without priority status at 4 entry per year, though no use for it now

Well, SCB priority was useful to me as recently as a 1-2 years back. I buy LSE shares so Momo and Tiger aren't suitable alternatives even though I did open them for the freebies. Now using IBKR instead for new monthly purchase. Still keeping the old shares in SCB and not transferring out unless there are good reasons.

 

[arctician]

Well, SCB priority was useful to me as recently as a 1-2 years back. I buy LSE shares so Momo and Tiger aren't suitable alternatives even though I did open them for the freebies. Now using IBKR instead for new monthly purchase. Still keeping the old shares in SCB and not transferring out unless there are good reasons.

for me is i will drop out, wait a few years then maybe rejoin again for the welcome rewards

 

[crystalnox]

for me is i will drop out, wait a few years then maybe rejoin again for the welcome rewards

When you say you dropped out, you specifically requested to the bank to downgrade? Cause even without the minimum with SCB, I think they let you hold on to the status right?

 

[arctician]

When you say you dropped out, you specifically requested to the bank to downgrade? Cause even without the minimum with SCB, I think they let you hold on to the status right?

yes my RM kept tagging me to PB status though i want to drop out to avoid the $50 fall below fee, i finally managed to drop out last week. No loss since i get to keep the VI card for the PP and only incur 0.02% more for trading, which i have switched to moomoo anyway

 

[hwmook]

actually doesn't look that good a deal to me. locking 250k at 0.1% interest for 3 months and getting an ipad plus maybe $600-$900.

fall below fee of $50. account minimum balance is 15k.

or are there any worthwhile benefits of citigold? for scb priority, I find the no minimum brokerage fees and priority pass useful.

You don't have to lock 250k in cash at 0.1%. I transfered in my unit trust from dollardex so no loss to me while having everything to gain.

 

[lwpro2]

You don't have to lock 250k in cash at 0.1%. I transfered in my unit trust from dollardex so no loss to me while having everything to gain.

anybody know if transferring unit trust from ocbc to citigold, and maintain there for 12 months (for the cash reward), then transfer back to ocbc, would there be any charges incurred during the transferrs?

ocbc has a sales charge of 0.88% for buying unit trust. does citigold however charge 1.5% for subscription (sales charge)?

 

[hwmook]

anybody know if transferring unit trust from ocbc to citigold, and maintain there for 12 months (for the cash reward), then transfer back to ocbc, would there be any charges incurred during the transferrs?

ocbc has a sales charge of 0.88% for buying unit trust. does citigold however charge 1.5% for subscription (sales charge)?

No charges for transferring in to citiback.

 

[lwpro2]

No charges for transferring in to citiback.

do you know how much is the sales charge for citigold ?

 

[chopra]

You don't have to lock 250k in cash at 0.1%. I transfered in my unit trust from dollardex so no loss to me while having everything to gain.

R u guys talking about citigold. $250k for 3 mths can get monetary rewards ma. No more ah?

 

[hwmook]

do you know how much is the sales charge for citigold ?

0.5% only when I try to purchase.

 

[hwmook]

R u guys talking about citigold. $250k for 3 mths can get monetary rewards ma. No more ah?

Got, got people say need to put $250k in the 0.1% bank account to get the rewards. I am just saying no need cash in bank account, unit trust transfer in also work so your money is still getting better returns invested than put in bank accounts.

 

[chopra]

Got, got people say need to put $250k in the 0.1% bank account to get the rewards. I am just saying no need cash in bank account, unit trust transfer in also work so your money is still getting better returns invested than put in bank accounts.

Ahhhh ok. Didnt know u are into unit trust too tho.....

 

[belgarathc]

Got, got people say need to put $250k in the 0.1% bank account to get the rewards. I am just saying no need cash in bank account, unit trust transfer in also work so your money is still getting better returns invested than put in bank accounts.

I was referring to the free ipad terms and conditions. It says "Deposit a minimum sum of S$250,000 (“Minimum Deposit”), consisting of fresh
funds, into the Eligible Bank Account within 90 days of account opening,
where “fresh funds” means funds that do not originate from any existing
account with Citibank...Maintain the Minimum Assets under management amount of S$250,000 in the
Eligible Bank Account for 90 days from the day the Eligible Bank Account is
opened... “. My interpretation is that the 250k must remain in the bank account. Happy to be wrong about this.
For $600-$900 incentive, yes I do understand that it is 250k AUM which can be cash or investments. For investments, equities are eligible too but Citi's brokerage cover US, SG, HK and not LSE.