Consolidated thread for Priority/Privilege Banking

[saggice]

Yea. But $200k don have the advertised benefits rebates.

As far as i know, $200k should be able to sign up DBS Treasures although $350k is what is stated on the website.

 

[BlackIcE84]

So SRS shares bought via OCBC Securities and using OCBC as SRS agent bank qualify as AUM?

no it will not. i use OCBC sec and i have asked this a few times. OCBC custodian holdings do NOT count towards your AUM with OCBC

 

[youhsueh]

As far as i know, $200k should be able to sign up DBS Treasures although $350k is what is stated on the website.

When I sign up years ago, it was 350k to sign up, maintain 200k.

 

[Tiger9119]

Let me start the ball rolling as well

Bank: SCB
Minimum Assets Under Management(AUM): 200K
Fall below fee charged: Yes, $50 per month
Downgrade if AUM not met: Yes
Pros: PP pass with unlimited use
Cons: -

If I am not wrong, the PP pass is limited to 24 visits for Priority Banking, only Priority Private or Private banking get unlimited visits.

 

[salmonella]

If I am not wrong, the PP pass is limited to 24 visits for Priority Banking, only Priority Private or Private banking get unlimited visits.

His post was correct at the time of writing in 2013. You are also correct now.

Hi all,

Eligible Assets Under Management (AUM) for premier banking:

•includes investments and deposits
•includes SRS cash balances and SRS investments with OCBC
•excludes investments in Blue Chip Investment Plan (BCIP)
•excludes Shares held in OCBC Securities

If you require further clarification on this, could you drop us a PM with your query, as well as your contact details?

260Wolskel, could you also PM us with your relationship manager name, so that we could check on the matter?

Thank you.

^DG

Hi kevinbox,

SRS investments are considered as eligible AUM for Premier Banking.

If you have further questions on this, please feel free to drop us a PM.

^DG

no it will not. i use OCBC sec and i have asked this a few times. OCBC custodian holdings do NOT count towards your AUM with OCBC

Hi Kevin,

It will not be counted as a SRS investment with OCBC.

^CC

Ok, I'm a bit confused by all this. (Apologies if I'm quoting some of these out of context)

So, it seems that there are specific requirements for SRS investments to be counted as AUM for OCBC premier. Can elaborate what these requirements are?

Actually, I have no idea how I made my SRS investments.

 

[htngwilliam]

Hi all,

Eligible Assets Under Management (AUM) for premier banking:

•includes investments and deposits
•includes SRS cash balances and SRS investments with OCBC
•excludes investments in Blue Chip Investment Plan (BCIP)
•excludes Shares held in OCBC Securities

If you require further clarification on this, could you drop us a PM with your query, as well as your contact details?

260Wolskel, could you also PM us with your relationship manager name, so that we could check on the matter?

Thank you.

^DG

Wonder why BCIP is not considered? It is not $? Somet funds are good but expense ratio is usually high

 

[starbugs]

The short answer seems to be that only if OCBC can extract a large (and preferably recurring) management fee or commission from you, then would the "investment" be counted in AUM.

 

[OCBC Bank]

His post was correct at the time of writing in 2013. You are also correct now.

Ok, I'm a bit confused by all this. (Apologies if I'm quoting some of these out of context)

So, it seems that there are specific requirements for SRS investments to be counted as AUM for OCBC premier. Can elaborate what these requirements are?

Actually, I have no idea how I made my SRS investments.

Hi there,

Could you drop us a PM with your contact details? We will arrange for our relationship manager to call and advise.

^DG

 

[nexusfanboi]

Hi there,

Could you drop us a PM with your contact details? We will arrange for our relationship manager to call and advise.

^DG

How about you just explain everything here in detail? Is full transparency still what you guys are going for or is that just last year's marketing campaign?

https://dollarsandsense.sg/ocbc-ban...ill-consumers-take-doomed-marketing-campaign/

 

[doody_]

How about you just explain everything here in detail? Is full transparency still what you guys are going for or is that just last year's marketing campaign?

https://dollarsandsense.sg/ocbc-ban...ill-consumers-take-doomed-marketing-campaign/

Get used to it. I've ended my relationship with OCBC permanently since a few years back. SCB and POSB/DBS provide much better service and have more reasonable TnCs.

 

[saggice]

How's UOB service ?

 

[kevinbox]

How about you just explain everything here in detail? Is full transparency still what you guys are going for or is that just last year's marketing campaign?

https://dollarsandsense.sg/ocbc-ban...ill-consumers-take-doomed-marketing-campaign/

Second this too, very vague rules and no attempt to explain in detailed

 

[arctician]

just enrolled in citgold for the welcome gifts etc, RM said there is complimentary birthday cake for citigold, any website to see summary of privilges? i googled but cant find the cake feature..

 

[oceanicmanta]

just enrolled in citgold for the welcome gifts etc, RM said there is complimentary birthday cake for citigold, any website to see summary of privilges? i googled but cant find the cake feature..

last year's cake is redeemed from Antoinette ... small size one

 

[arctician]

last year's cake is redeemed from Antoinette ... small size one

yes thats what they told me, i am trying to find a summary of all the perks for citigold, complimentary parking at paragon and birthday cakes etc all cant be found online. The lifestyle privileges in citigold website all not very attractive.

 

[saggice]

How about the investment privileges at Citigold ? Or promised returns ?

Free use of lounge maybe ?

yes thats what they told me, i am trying to find a summary of all the perks for citigold, complimentary parking at paragon and birthday cakes etc all cant be found online. The lifestyle privileges in citigold website all not very attractive.

 

[salmonella]

Could you drop us a PM with your contact details? We will arrange for our relationship manager to call and advise.

^DG

I too would prefer if you could write out the general rules... Hopefully it is not so complex or requires an RM to look into my specific account (plus there's no way I'm going to identify myself with personal info to someone calling me, singhealth debacle notwithstanding).

yes thats what they told me, i am trying to find a summary of all the perks for citigold, complimentary parking at paragon and birthday cakes etc all cant be found online. The lifestyle privileges in citigold website all not very attractive.

Barring an official website (which also tends to be unmaintained), we'd have to count on bros like you to just ask the RM what the perks are, and let us know. Like what he did 5 years ago.

Bank:Citibank (citigold)
Minimum Assets Under Management(AUM):200k
Fall below fee charged: Yes
Downgrade if AUM not met: Not Sure
Pros: Citigold lounge at paragon( Coffee, cookie, Resting area),some parking redemption at paragon. Citi Prestige extra bonus points. Overseas recognition AMK Hub, Tampines etc you too can have free parking (by giving you HDB parking coupons).
Cons:Rates are never the best.

Nowadays still have HDB parking coupons? There isn't even a full branch in Tampines.

Bank:Ocbc Premier
Minimum Assets Under Management(AUM):200k
Fall below fee charged: Yes
Downgrade if AUM not met: Not Sure
Pros: World elite World mastercard. Concierge from CC. FCD ( foreign currency deposit) are one of the best around
Cons:

Any other pros for this? Can't see myself using any of these.

 

[OCBC Bank]

Hi all,

We apologise for the delay in replying to your messages.

With regards to SRS funds that count towards Premier eligibility, only the deposit amount and investment products purchased by the main account holder, through us are included under our AUM.

Other exclusions include securities purchased even if they are bought under OCBC Securities.

For clarification, please drop us a PM for us to contact you directly.

^DG

 

[arctician]

How about the investment privileges at Citigold ? Or promised returns ?

Free use of lounge maybe ?

Yes but all priority banking has lounge facilities and only retirees can afford to sit there for whole day, the brokerage account has higher commission vs DBS and SCB

Nowadays still have HDB parking coupons? There isn't even a full branch in Tampines.

What he said still holds, birthday cake, complimentary parking at paragon and all hdb as long as there is single txn. Bonus miles for prestige etc, basically no change. AUM raised to 250k and no fall below fee

 

[Muneyzmart]

What about Home loans and Singapore Saving Bonds? Does it form as part of OCBC AUM?

Hi all,

We apologise for the delay in replying to your messages.

With regards to SRS funds that count towards Premier eligibility, only the deposit amount and investment products purchased by the main account holder, through us are included under our AUM.

Other exclusions include securities purchased even if they are bought under OCBC Securities.

For clarification, please drop us a PM for us to contact you directly.

^DG