Consolidated thread for Priority/Privilege Banking

[NTTDoCoMo]

Hi

Anyone to refer me for hsbc premier to share the referral fee

Pls pm me

PM Sent......

 

[Nestsia]

Got link????

Can PM me about it if you want to know more.

 

[Nestsia]

Anyone keen on SCB latest promo or referral can PM happy to share.

 

[Nestsia]

Promo

Anyone doing the SCB top up to $200k by 31 Dec to receive $500?
to maintain 200k for Jan to Mar

I am thinking will there be strict requirements on definition of fresh funds?
My funds moving here and there I do not know how they qualify it.

Any past experience?

Now still have $500 and TANGS Voucher upgrade to $250 liao. Basically for fresh funds means not from other SCB account can liao.

But most important is must be new to the bank to be eligible for $500. Last year also same rules de.

 

[Jasonkidddd]

Dear all, I am considering priority banking for the first time. Am considering between OCBC Premier and DBS Treasures. Any advice between the 2 (or even other banks?) I like OCBC for the friendlier RM while DBS is attractive for its iWealth trading platform for stocks with no minimum fees. Any comments are welcome! Thanks in advance!

 

[Nestsia]

Dear all, I am considering priority banking for the first time. Am considering between OCBC Premier and DBS Treasures. Any advice between the 2 (or even other banks?) I like OCBC for the friendlier RM while DBS is attractive for its iWealth trading platform for stocks with no minimum fees. Any comments are welcome! Thanks in advance!

Both local banks and top of the list so service is great. RMs can change anytime once you priority if u dont like just change.

Depends on your personal feel. If you have the funds can try both for the gifts for 6 months, then swing out of the one you don't like. If u like to invest can get insight from 2 banks instead of one.

Other banks package about the same and common practice is to swing here and there between banks to continue earning the welcome gift. Other thing is global presence for oversea bank so in emergency you can at least go to the physcial bank(SCB, Citi).

Have fun.

 

[Jasonkidddd]

Both local banks and top of the list so service is great. RMs can change anytime once you priority if u dont like just change.

Depends on your personal feel. If you have the funds can try both for the gifts for 6 months, then swing out of the one you don't like. If u like to invest can get insight from 2 banks instead of one.

Other banks package about the same and common practice is to swing here and there between banks to continue earning the welcome gift. Other thing is global presence for oversea bank so in emergency you can at least go to the physcial bank(SCB, Citi).

Have fun.

Thanks for the reply bro.

Thanks for the idea of switching the funds around to earn welcome gifts

Additionally, both OCBC and DBS introduces a “insurance” plan which I found interesting - OCBC Premierlife Generation II and DBS Signature Income. They areinteresting as the banks offer leverage for premier / treasures client where ~70% of the single premium will be provided by the bank in the form of a loan. There will be monthly payouts from the 4th year onwards. Quick calculations from me shows ~3% IRR after 15 years (but policy can be held to death and even passed on to children). Key risk is the loan payment will increase if interest rates increase. Any thoughts on these “wealth generating” solutions?

Thanks

 

[Linguist]

Now still have $500 and TANGS Voucher upgrade to $250 liao. Basically for fresh funds means not from other SCB account can liao.

But most important is must be new to the bank to be eligible for $500. Last year also same rules de.

If we hold SCB credit cards (no bank accounts), are we considered as new to bank customer and qualify for the priority sign up bonus?

 

[Nestsia]

If we hold SCB credit cards (no bank accounts), are we considered as new to bank customer and qualify for the priority sign up bonus?

Hello Linguist!

If the only thing you hold is a CC then you are considered NTB and is eligible for all the goodies. Alternatively, any bank that you close your account(not dormant) after 12 months you’ll be considered NTB too.

Enjoy the goodies!

 

[Nestsia]

Thanks for the reply bro.

Thanks for the idea of switching the funds around to earn welcome gifts

Additionally, both OCBC and DBS introduces a “insurance” plan which I found interesting - OCBC Premierlife Generation II and DBS Signature Income. They areinteresting as the banks offer leverage for premier / treasures client where ~70% of the single premium will be provided by the bank in the form of a loan. There will be monthly payouts from the 4th year onwards. Quick calculations from me shows ~3% IRR after 15 years (but policy can be held to death and even passed on to children). Key risk is the loan payment will increase if interest rates increase. Any thoughts on these “wealth generating” solutions?

Thanks

No problem at all.

My personal opinion but for IP or anything that you want to generate income in general, if u can afford the cash outflow for X years then buy it cause loans are never worth it even 0% interest. It’s also more complicated to keep track of your spendings cause the money physically never left u.

Sounds like the current trending 5/10 or similar endownment plans. Also my personal opinion but if you’re looking for liquidity for your investments, would suggest you place in FD instead cause the interest is guaranteed and if you want take out in case of emergency also won’t have lost of capital. Of course lower interest gained as well but at least can always go “shopping” for other wealth products cause tenure short(3-9 months usually).

If you’re going the priority route, the FD rates offered always higher de and looks like this year is good year to deposit money.

End of day if you going to buy a WL plan for the kids then of course go ahead and take the loan instead cause the SP is no small amount for sure and if it’s a legacy you’re looking at then usually cannot think of how much you lose now but how much your kids will receive in the future.

 

[Linguist]

Hello Linguist!

If the only thing you hold is a CC then you are considered NTB and is eligible for all the goodies. Alternatively, any bank that you close your account(not dormant) after 12 months you’ll be considered NTB too.

Enjoy the goodies!

Thanks for the answer!
cuz previously heard even hold CC the bank will consider you as not new.

So the tactic is to establish priority relationship, get goodies, close account, wait 12 months and establish again?

 

[Nestsia]

Thanks for the answer!
cuz previously heard even hold CC the bank will consider you as not new.

So the tactic is to establish priority relationship, get goodies, close account, wait 12 months and establish again?

Different banks different system and now more flexible already.

Commonly is 1.establish, 2.goodies/FD rate, 3. Close move to another bank to do step 1&2, then rinse and repeat until ready to be new again haha.

Unless u lazy, really like the bank or these promotions end. There is also referral money to be earned so bring in friends/family to maximise earning in step 2.

 

[GrandJedi]

Maybank Premier AUM

Is Maybank particular with AUM for premier wealth account? Will they charge or kick you out if AUM falls below?

Also, is there any freebies if I sign up now?

Thanks.

 

[Lord Hokage]

Am I right to say UOB has no sign up bonus? Thanks.

 

[timothybo]

Other banks package about the same and common practice is to swing here and there between banks to continue earning the welcome gift. Other thing is global presence for oversea bank so in emergency you can at least go to the physcial bank(SCB, Citi).

Have fun.

When you swing if they dont downgrade you immediately meaning you have to request to downgrade? So that you can qualify again

 

[Nestsia]

When you swing if they dont downgrade you immediately meaning you have to request to downgrade? So that you can qualify again

Nope swing means full out of it. Close all accounts except credit card. Then can qualify again as new in 12 months.

 

[Nestsia]

Am I right to say UOB has no sign up bonus? Thanks.

You are correct.

 

[Lord Hokage]

You are correct.

Thanks for the help.

 

[SKenny]

Esaver qualify for this $500 promo.

Thanks for the update.

BTW, what is the interest rate for esaver?

 

[Panerex]

Is Maybank particular with AUM for premier wealth account? Will they charge or kick you out if AUM falls below?

Also, is there any freebies if I sign up now?

Thanks.

Keen to know this too