Consolidated thread for Priority/Privilege Banking

[cscs3]

Regarding citigold, does transfer-in of stocks (not UT but I have US stocks with UOB) count towards total AuM?

Yes it does. But transfer to CitiBank seem like a bad choice.

 

[chopra]

i managed to work out 1.76%. to i nitpick, i suppose need to put $15k to prevent fall below fee? if i only fully fund from month 3 onwards, means i cant get any loyalty reward since it accumulates from acct opening month?

The timeline is as follows:
- Open account in Month 1 (e.g. Dec 2020)
- Fund full $250k by end of Month 3 (e.g. Feb 2021)
- Maintain till NTB rewards are credited by end of Month 5 (e.g. Apr 2021)

1.056% p.a. is correct assuming you fund in Month 1, if fund in Month 2 or 3 then it will be about 1.32% to 1.76% p.a.

Loyalty reward is a bonus for clients who maintain funds till 30 Jun 2021. It will start accumulating from account opening month, not funding month. So assuming account opened in Dec 2020, funds maintained till 30 Jun 2021, then the total loyalty reward will be $130 x 7 months = $910, which will be credited in one lump sum by end Aug 2021.

Hope the info above helps!

 

[hwmook]

Any other banks giving money except for citigold?

 

[oceanicmanta]

Any other banks giving money except for citigold?

little red sampan lor

 

[frozenkid]

Hello All,

For DBS treasures usually, the transfer-in counters from SGX CDP will take how long? Is it very much dependent on the diligence of the RM?

If anybody has a reliable male DbsT RM to recommend please pm me.

Would like to have a switch.

Thanks!

 

[savior1]

Yes. Citigold can self purchase unit trust but not sure whether the sales charge is lower via this platform. Same platform as Citi brokerage and foreign exchange under wealth tab. However, you can purchase not higher than your risk assessment result conducted while opening your investment account.
Currently i am using the platform for brokerage. So far so good. Low Comm rate and no minimum Comm.

Thanks for the reply sir. Just wondering if any Citi RMs here? For clients who purchase directly via the Citigold platform online, will the RM get some commission still or nothing at all? Feel bad if they don't get any but we need to save as clients as well.

 

[Imhthc]

Any other banks giving money except for citigold?

Standard chartered bank

 

[savior1]

As I'm not an RM here in Citi, I'm not really sure but I think your RM doesn't get anything if you buy through platform yourself. However I believe it's up to the RM's discretion on how much they wish to charge you. Also, if you are a New-to-Bank Citigold client, there are additional cash rewards that you can earn on top of the base rewards if you invest through your RM. From what I remember, those cash rewards will more than offset your charges, so it's a win-win for both the RM and the client.

Click on "See How Cash Rewards Add Up" to see the investment rewards I'm talking about:
https://www.citibank.com.sg/citigold/banking-privileges/promotions/index.htm

Thanks for sharing bro. As will be upfront with RM also la if they charging higher than me putting in myself than not much incentive to buy through them. Would not make sense financially. Just don't feel nice also if ask them then buy through online.

 

[cscs3]

Thanks for sharing bro. As will be upfront with RM also la if they charging higher than me putting in myself than not much incentive to buy through them. Would not make sense financially. Just don't feel nice also if ask them then buy through online.

Just remember RM is just a nicer name for a salesman.

 

[stiwipl]

At least with Citi Gold I have the same RM I had 9 years ago, with DBS Treasures my RM changes every few months literally.

 

[recruit]

At least with Citi Gold I have the same RM I had 9 years ago, with DBS Treasures my RM changes every few months literally.

My experience is the opposite. Lol. My Citigold RM has changed multiple times.

 

[skpuppy]

At least with Citi Gold I have the same RM I had 9 years ago, with DBS Treasures my RM changes every few months literally.

Now DBS is more innovative. You will be taken care by a team of RM (no RM) and it doesn’t matter because now your RM don’t change

 

[cscs3]

Now DBS is more innovative. You will be taken care by a team of RM (no RM) and it doesn’t matter because now your RM don’t change

A team of RM? This means you are put to common pool, no more dedicated RM. Part of the reason is no enough investment products purchased.

 

[cscs3]

My experience is the opposite. Lol. My Citigold RM has changed multiple times.

I had a lousy one, but bad luck never get changed. So I transfer my products to another bank.

 

[cscs3]

At least with Citi Gold I have the same RM I had 9 years ago, with DBS Treasures my RM changes every few months literally.

The shortest I have is UOB. Just 1 day and they change to another RM, banks claim that is a mistake in assignment.

 

[bright_84]

The shortest I have is UOB. Just 1 day and they change to another RM, banks claim that is a mistake in assignment.

Happens...

 

[chopra]

is there any perks as citigold member

 

[Knightoftheblackrose]

The truth is that every Bank’s RM has a KPI to meet .

If they cannot convince enough customers to sign up for Investment products , they are booted out.

The shortest I have is UOB. Just 1 day and they change to another RM, banks claim that is a mistake in assignment.

 

[Zahlen]

By perks do you mean the privileges in general or the new client promos?

how about both?

actually other than being able to invest in some exclusive instruments, or have cheaper rate etc, are there any other benefits for priority/privilege banking (other than shorter queue lol)?

 

[tweeety]

From what I know in my time here with Citi, mostly it's the status/prestige, the team of staff supporting you tgt with your RM, and the lounge access in my opinion. There are some specific benefits like free global transfers, lifestyle events, investment seminars etc, which cater to a more niche clientele. The new Citi Wealth Hub has received quite positive feedback since its opening in Dec, so I guess that is an extra perk if you'd like to bring your family to chill while shopping along Orchard.

If you're a new to bank client and you deposit $250k within the first 3 months, then you can qualify for their welcome promo too:
- $300 base reward, and
- $300 additional online reward, and
- $300 additional reward for new/existing credit cardholders

Of course they will reward you much more for investing/insuring, but even without doing so, the above is what you get for just depositing fresh funds.

if i previously have an account, how long will it take to qualify as new to bank account again?