Consolidated thread for Priority/Privilege Banking

[purpletoysmum]

Having PB is not only about accessing their banking lounges, you can do things like buying/selling otc bonds, buying ipo bonds, apply new cards, open new accounts, get invited to special events, free airport lounge access, free Jetquay access, free airport limo etc

Financing for bonds/shares/unit trusts, financing for universal life insurance etc.....it's not only parking money there that's involved....they can also lend you money at relatively good rates for your investments to leverage (now that we can't leverage on property so easily as before). Their brokerage rates can also be competitive. And the shares you park with them count towards your AUM. (btw I'm not a banker, I just use some of their services

 

[wts2013]

Hi all, I called citigold today n for a deposit of $200k as a new citigold member they will give $500 cash.

Sounds like not bad a deal if u have spare cash not to be used for stocks . Are there any caveats to watch out for, especially when transferring out the money or closing citigold next time?

I also thought so, but Website state promotion ends Dec 31 2013, is extended? Beware the hidden penalties - if account closed before 6 mths = $50, if balance fall below 200k = $50 per mth

 

[boroangel]

I also thought so, but Website state promotion ends Dec 31 2013, is extended? Beware the hidden penalties - if account closed before 6 mths = $50, if balance fall below 200k = $50 per mth

Hmmmm then in that case there is no harm opening a new Citigold account, if not falling below this balance. I dont intend to take out the money in 6 months, after 6 months maybe.

The 0.8% FD interest looks good too. Its better than leaving the money sitting there in a present bank with very low FD%.

 

[wts2013]

Hmmmm then in that case there is no harm opening a new Citigold account, if not falling below this balance. I dont intend to take out the money in 6 months, after 6 months maybe.

The 0.8% FD interest looks good too. Its better than leaving the money sitting there in a present bank with very low FD%.

Not worth it, u can get 1% interest with scb for 7 mths deposit plus free gift, now esaver pays 1.08% for 2mths, so u think lor.

 

[boroangel]

Not worth it, u can get 1% interest with scb for 7 mths deposit plus free gift, now esaver pays 1.08% for 2mths, so u think lor.

Oh really? for USD time deposits? I thought 0.8% for 3 months for USD FD was the highest on the market now.

 

[limpoop]

Financing for bonds/shares/unit trusts, financing for universal life insurance etc.....it's not only parking money there that's involved....they can also lend you money at relatively good rates for your investments to leverage (now that we can't leverage on property so easily as before). Their brokerage rates can also be competitive. And the shares you park with them count towards your AUM. (btw I'm not a banker, I just use some of their services

I notice banks charge lots more if you buy/sell otc bonds so I end up using brokers and transfer to my CDP.

 

[limpoop]

Oh really? for USD time deposits? I thought 0.8% for 3 months for USD FD was the highest on the market now.

You have to factor in currency exchange rates.

 

[wts2013]

Oh really? for USD time deposits? I thought 0.8% for 3 months for USD FD was the highest on the market now.

me talking S$ ok

 

[jammer_sg]

Perks aside

With such priority/privilege facility from various banks, anyone have any experience to share regarding their respective RM?

Example:
- ease of contact and responsiveness
- comprehensive and useful investment advisory
- track record of your invested assets with them (i.e. improve as per expectation or plain good for nothing)

 

[limpoop]

With such priority/privilege facility from various banks, anyone have any experience to share regarding their respective RM?

Example:
- ease of contact and responsiveness
- comprehensive and useful investment advisory
- track record of your invested assets with them (i.e. improve as per expectation or plain good for nothing)

What I know is when you first join PB, your RM will be eager to contact you and provide lots of investment & insurance ideas based on your taste, but if you not a keen they will cool-off and never call you.

 

[limpoop]

Anyone going to exchange new notes and special PB Angpao packets?

The queue at SCB PB Battery Road is really long.

 

[neanea]

Where is the lounge for ocbc premier banking?

How is it compared to others?

 

[jammer_sg]

What I know is when you first join PB, your RM will be eager to contact you and provide lots of investment & insurance ideas based on your taste, but if you not a keen they will cool-off and never call you.

I met the RM assigned to my enquiry about investing with DBS Treasures recently. From the onset he doesn't seem very responsive. Either the money I have is not "attractive" enough or he is really doing well and too busy with his accounts.

Looking to do some small investments to hedge spare cash against inflation but really have no time to monitor things. So I was wondering if all these PB will come in useful.

 

[dao]

Where is the lounge for ocbc premier banking?

How is it compared to others?

You can get the full list from Ocbc website or Ocbc apps. Been to ION branch. Similar to other PB lounch, can get some cold/hot drinks, catch up some papers/magazine, watch tv.

 

[limpoop]

I met the RM assigned to my enquiry about investing with DBS Treasures recently. From the onset he doesn't seem very responsive. Either the money I have is not "attractive" enough or he is really doing well and too busy with his accounts.

Looking to do some small investments to hedge spare cash against inflation but really have no time to monitor things. So I was wondering if all these PB will come in useful.

If you are with DBS Treasures then you have AUM of more than $350K with them, maybe your RM knows all your funds are "locked" and cannor be used for new investment?

Why not buy some perpetual capital securities that pay 4-5%pa?

 

[Keverus]

What I know is when you first join PB, your RM will be eager to contact you and provide lots of investment & insurance ideas based on your taste, but if you not a keen they will cool-off and never call you.

 

[jammer_sg]

If you are with DBS Treasures then you have AUM of more than $350K with them, maybe your RM knows all your funds are "locked" and cannor be used for new investment?

Why not buy some perpetual capital securities that pay 4-5%pa?

Alright. Thanks. Somehow it is hard to find threads regarding performance review of the local PB sector. Mostly just about the perks (of no relevance if the bloody fellow keeps losing your investments). I guess these are sensitive and private matters.

 

[lalaisgongon]

Alright. Thanks. Somehow it is hard to find threads regarding performance review of the local PB sector. Mostly just about the perks (of no relevance if the bloody fellow keeps losing your investments). I guess these are sensitive and private matters.

I think PB ( below 2mil) are mostly people who dont use advice services? it highly relied on the systems and computers to sell products.

while true private banking, relies a lot more on advice generated by the bank itself, for example UBS.

they do have quite a big research department.

 

[ahboy82]

anyone noes if dbs treasures is 350k or still 200k? and does it include stocks purchased using their dbs vickers?

 

[Keverus]

I notice banks charge lots more if you buy/sell otc bonds so I end up using brokers and transfer to my CDP.

how else they make money