Consolidated thread for Priority/Privilege Banking

[Imhthc]

Anyone with SCB priority now?

Me. 10chars

 

[Buzy_bee]

Anyone with SCB priority now?

Me. Very good welcome bonus (in cash)

 

[Gecko]

How long does it generally take for the one doing referral for SCB priority to get the referral fee?

 

[oceanicmanta]

How long does it generally take for the one doing referral for SCB priority to get the referral fee?

for SC is long, ... IIRC TnC says 6 months

 

[dexboi]

DBST sent me a letter asking me to transfer my Wealth Management - Online Equities Trading shares to DBS Vickers.

I don't understand why, never state reasons either.

 

[elvintay07]

DBST sent me a letter asking me to transfer my Wealth Management - Online Equities Trading shares to DBS Vickers.

I don't understand why, never state reasons either.

Never meet $200k? Going to kick you out?

 

[elvintay07]

Anyone tried this? Apparently can upgrade your free gift to another model. I didn’t apply for Citibank gold but I bought surface go from a nice gentleman who enrolled. Then I bring back to the place to upgrade to a surface pro 8. Sibei steady. The lady even asked me want to upgrade to any other products like iPad Pro etc…I was like huh? Can meh

 

[jiraiye]

Anyone here applied for the moneysmart macbook pro with hsbc premier promo? Our 200k supposed to be only need to leave in the acct until 31st Jan. Wanted to ask whether you guys still leaving it there just in case or already took out to put elsewhere and swallow the $50 fall below fee.

Also if by any chance anyone saved the t&c pls let me know. Can't find online liao.

Looking for the T&C too. there was 2 runs of the same promo. 1 from Sep to 15 Oct 21, the other is 16 Oct to 31 Oct 21. Any kind souls, please help.

 

[elvintay07]

Looking for the T&C too. there was 2 runs of the same promo. 1 from Sep to 15 Oct 21, the other is 16 Oct to 31 Oct 21. Any kind souls, please help.

Just rotate if need to. After a while you will be quite sian to rotate

 

[1l92041H]

i v slow hor. abit paiseh to keep disturbing my rm hahahah



Read HWZ Forum Rules!

can share what does a complete tour of citigold involve? im keen to join

do you guys also wait 12 mths to get the wealth loyaly bonus? seems like need to buy insurance/investment for the whole duration to get it

 

[chopra]

can share what does a complete tour of citigold involve? im keen to join
do you guys also wait 12 mths to get the wealth loyaly bonus? seems like need to buy insurance/investment for the whole duration to get it

hi. a complete tour means getting all ur kampong to join.

each member just need to put approx 1 mth


Read HWZ Forum Rules!

 

[oceanicmanta]

hi. a complete tour means getting all ur kampong to join.

each member just need to put approx 1 mth


Read HWZ Forum Rules!

sounds like a tontine ponzi

 

[linusz]

Any offers to move money around

 

[1l92041H]

hi. a complete tour means getting all ur kampong to join.

each member just need to put approx 1 mth


Read HWZ Forum Rules!

How much to earn from each member

 

[oceanicmanta]

Any offers to move money around

several ... from hsbc premier, sc priority, ocbc premier, citigold

would probably take at least 18mths (rough guess) to complete this tour, need to work out the best sequence

 

[Extremme]

Is it better to spread across different banks for their respective IR or consolidate into a premier banking account? I checked that even for Citi gold, to get 2.8% is quite challenging.

 

[oceanicmanta]

Is it better to spread across different banks for their respective IR or consolidate into a premier banking account? I checked that even for Citi gold, to get 2.8% is quite challenging.

for these premier/priority banking, most would just pick the lowest hanging fruits (eg welcome award, referral) on offer without over commiting (eg insurance, investment)

 

[celtosaxon]

I am a long time DBS customer but my employer required UOB in order to contribute to my SRS. The SRS balance is likely to exceed S$100k this year, so I could presumably qualify for UOB Wealth Banking. I’ve also got over S$100k in cash sitting in my DBS current account, so let me ask you guys… is it worth consolidating my accounts with UOB?

I hesitate because of my experience with UOB over the years:

1. They can’t keep their story straight (ask different people the same question, get different answer).

2. They are very particular about minor details and unnecessary red tape.

3. Among the three local banks, they seem to be the least generous about offering customers value for money, the best you can hope for is matching, not exceeding others.

This experience seems to be consistent over the decades, but tell me if I’m wrong or missing anything.

 

[elvintay07]

I am a long time DBS customer but my employer required UOB in order to contribute to my SRS. The SRS balance is likely to exceed S$100k this year, so I could presumably qualify for UOB Wealth Banking. I’ve also got over S$100k in cash sitting in my DBS current account, so let me ask you guys… is it worth consolidating my accounts with UOB?

I hesitate because of my experience with UOB over the years:

1. They can’t keep their story straight (ask different people the same question, get different answer).

2. They are very particular about minor details and unnecessary red tape.

3. Among the three local banks, they seem to be the least generous about offering customers value for money, the best you can hope for is matching, not exceeding others.

This experience seems to be consistent over the decades, but tell me if I’m wrong or missing anything.

Actually the 3 local banks suck like ****. Are you going to leave your SRS in cash or intend to invest? In order of shittiness

UOB (sibei ultra old school and ****. Ang Pow also buay kan. Their slogan should be “ The bank that does nothing right”)
DBS (freaking yaya papaya. They think that they are the biggest **** in SG. Ang Pow design is ultra **** also. Their mission statement should be “We don’t know whether we can make you rich but you will make us rich”)
OCBC (seriously the least shitty of the 3. Ang Pow design very high end. Their slogan is more like “Don’t serve and nothing can go wrong”)

Since you need to use $100k (SRS) + $100k cash, I think ocbc is the most cincai. They usually don’t disturb you, they don’t charge you any fees if you fall below (close 1 eye), they have some good investment for SRS (like exclusive infinity Lion global S&P500 or Lion global equity fund etc). You can also use their BCIP to invest in SGX

UOB wealth banking is ok and have nice lounges but the staff ****ing old school, use a lot of paper for this and that.

DBS I tried. Quite **** up. No good funds. Strange thing is you buy their funds can buy online but can only sell through agent (simi logic). Using their wealth banking platform so expensive etc…(custodian fees expensive). Their RM is yaya papaya and is team based (all wayang and wait for their peers to answer). Their reasoning is team is good because there is a whole army to serve you. The real truth is no accountability. Not sure why their CEO can accept this kind of wayang. Lol! Initially lim peh thought he is some general because only army can wayang like that.

To be honest, ppl always tell you good things about premier banking. This video tells you the truth about all these premier banking. Personally I prefer foreign banks like Citibank, Standard Chartered, HSBC, Maybank. The RM chio!

 

[celtosaxon]

Since you need to use $100k (SRS) + $100k cash, I think ocbc is the most cincai. They usually don’t disturb you, they don’t charge you any fees if you fall below (close 1 eye), they have some good investment for SRS (like exclusive infinity Lion global S&P500 or Lion global equity fund etc). You can also use their BCIP to invest in SGX

I am stuck with UOB for SRS because my company insists — or else they won’t contribute. I invest all of my SRS money into SGX listed S27, even cheaper than Lion Global.

My very first account was with OCBC back in 1996. They definitely are the least rigid of the 3 local banks. However, they can be a bit fast and loose in their operations. After a few years with them I suddenly saw an unexpected fee. I went in to the branch to find out why. Turns out they changed their T&C and increased the monthly minimum without telling me. I told them, since you didn’t inform me about the new T&C you should waive the fee. At first they absolutely refused… only after I raised a stink, they finally agreed (grudgingly) to waive it. After that I closed my account and moved to DBS. DBS is like dealing with a government agency, very slow and rigid, they don’t try very hard and just don’t care… but at least they are reliable most of the time.