Standard chart priority banking like nothing much Hor?

[reddevil0728]

if not for the 18bp brokerage fee for priority banking customers i wouldn't have bothered!

my assigned RM is just a huckster - always asknig me to buy/sell 1 lot of unit trust just for his credit & asking to vote him up whenever they are surveys.

If you have a specific KPI to hit, you mean you wouldn’t meh?

it’s about normal behaviour what

Not bad leh, ask him how much he offer as kickback.

If he offer that is illegal siahz

All these surveys are big wayang one la. I trade daily. Who cares whether you get 0 for survey as long as you can bring in the money. SC wont kill a golden goose because of all these. Those who worry typically has lousy performance.

If enough ppl actually respond and all negative, you bet it doesn’t raise any eyebrows

 

[direbmem]

https://www.sc.com/sg/save/current-accounts/usd-high-account/
USD High Account waives cash deposit fees .

So if you think you can go moneychanger to change USD at a better rate, you can always deposit cash into your account. But make sure you let your RM know so he/she can help you. normal bank staff may be stunned if you bring NTUC plastic bag with US$500k cash.

So this is for people with USD who wants to change USD to SGD? Don't understand your comparison with money changers

 

[limster]

So this is for people with USD who wants to change USD to SGD? Don't understand your comparison with money changers

People who want to buy VWRA ETF in Standard chartered have 3 options to fund their purchase
(1) deposit S$ into SCB and change to US$ at SCB rate. some say the rate is lousy. Currently I agree it has gotten worse for the lower tiers. But my RM has mentioned before that if you are changing 6 figures, he probably can do the transaction at gold tier rate.
(2) go to money changer and buy US$, go to SCB counter and deposit the US$ cash into your High Account.
(3) change US$ elsewhere (interactive brokers, FSMOne, etc) and TT to SCB (TT chargeable but if your rate is so fantastic might be worth it)

 

[elvintay07]

People who want to buy VWRA ETF in Standard chartered have 3 options to fund their purchase
(1) deposit S$ into SCB and change to US$ at SCB rate. some say the rate is lousy. Currently I agree it has gotten worse for the lower tiers. But my RM has mentioned before that if you are changing 6 figures, he probably can do the transaction at gold tier rate.
(2) go to money changer and buy US$, go to SCB counter and deposit the US$ cash into your High Account.
(3) change US$ elsewhere (interactive brokers, FSMOne, etc) and TT to SCB (TT chargeable but if your rate is so fantastic might be worth it)

Can we really do no2? I want to do that

 

[Garlic & Butter]

key benefits for me:

1. waiver of APEC card fee - $100 - can apply and save visa fee if going Australia or NZ
2. no minimum trading commission (although I havent trade for 1 yr)
3. "Free" overseas ATM withdrawal (only Cirrus marked up 1.5%). This is similar to money changer spreads. and dont need to hunt for specific ATM
4. USD High Account has no fall below fee
5. 24x PP pass


wishlist:
- waiver/ flat fee/ discount for foreign currency transfer

 

[sglandscape]

People who want to buy VWRA ETF in Standard chartered have 3 options to fund their purchase
(1) deposit S$ into SCB and change to US$ at SCB rate. some say the rate is lousy. Currently I agree it has gotten worse for the lower tiers. But my RM has mentioned before that if you are changing 6 figures, he probably can do the transaction at gold tier rate.
(2) go to money changer and buy US$, go to SCB counter and deposit the US$ cash into your High Account.
(3) change US$ elsewhere (interactive brokers, FSMOne, etc) and TT to SCB (TT chargeable but if your rate is so fantastic might be worth it)

Setup an IBKR account instead, you'll get FX rates and also better commission rate when you decide to sell (at retirement).

The no min comission works when you're accumulating, but most people forget they would eventually likely sell it at retirement to realise the capital gains, this is when SCB would make the fees off you.

 

[limster]

Setup an IBKR account instead, you'll get FX rates and also better commission rate when you decide to sell (at retirement).

The no min comission works when you're accumulating, but most people forget they would eventually likely sell it at retirement to realise the capital gains, this is when SCB would make the fees off you.

those that are comfortable with putting most of their networth into one foreign broker, pls go ahead.

myself, I sleep better at night knowing that my foreign stocks are spread over two custodians, IBKR and SCB.

 

[reddevil0728]

Can we really do no2? I want to do that

i believe can. just that there's a cost to it. and is by % so might not be worth it afterall.

 

[Tiger9119]

Can we really do no2? I want to do that

Standard Chartered waive the 1.5% commission when you make deposits in USD into USD High Account.

 

[havetheveryfun]

The no min comission works when you're accumulating, but most people forget they would eventually likely sell it at retirement to realise the capital gains, this is when SCB would make the fees off you.

if u sell at retirement but still priority, it is still no min commission right..

 

[elvintay07]

if u sell at retirement but still priority, it is still no min commission right..

Priority got no min commission. Also can go lounge 24 times a year

 

[reddevil0728]

if u sell at retirement but still priority, it is still no min commission right..

but must also consider how long to go before retirement as fee structure can change.

 

[sglandscape]

if u sell at retirement but still priority, it is still no min commission right..

But don't forget you'll be paying a % commission on a compounded return over decades, even if there is no min commission.

 

[sglandscape]

Standard Chartered waive the 1.5% commission when you make deposits in USD into USD High Account.

Yes, but they usually require for the notes to be unmarked. So for those who plan to deposit cash please take note.

 

[elvintay07]

But don't forget you'll be paying a % commission on a compounded return over decades, even if there is no min commission.

Aiya, don’t need to be so upset la. In life, nothing is free. If my portfolio compound at 10% yearly, doesn’t matter if my 0.2% commission is 30x in future. If your commission is high, means you earn more right?

 

[reddevil0728]

Aiya, don’t need to be so upset la. In life, nothing is free. If my portfolio compound at 10% yearly, doesn’t matter if my 0.2% commission is 30x in future. If your commission is high, means you earn more right?

i don't think it is about upset, and that post doesn't suggest that.

but more about being aware.

 

[elvintay07]

i don't think it is about upset, and that post doesn't suggest that.

but more about being aware.

It is standard one la. If your portfolio grew from $1m to $10m, your commission also will balloon. SC already very good. Can try contact Piyush and see how much DBS charge you. Platform fees can kill u

 

[reddevil0728]

It is standard one la. If your portfolio grew from $1m to $10m, your commission also will balloon. SC already very good. Can try contact Piyush and see how much DBS charge you. Platform fees can kill u

I never say it isn't la.

But sglandscape did a lot of people a good service by pointing it out. since a lot of people might be myopic and be "blinded" but such good deal. to not realise that there's an impact later.

Not something that can be escaped or mitigated. but something good to be aware of.

 

[direbmem]

Yes, but they usually require for the notes to be unmarked. So for those who plan to deposit cash please take note.

What is unmarked bills? The bills number are not in sequence?

 

[havetheveryfun]

But don't forget you'll be paying a % commission on a compounded return over decades, even if there is no min commission.

IBKR also same what