Consolidated thread for Priority/Privilege Banking

[cybercom8]

Recently joined as DBS Asia Treasures Private Client. As such don't need the large sum of AUM. But other criteria apply. You would have to ask the RM for the criteria as I am not sure what they are exactly but apparently I qualified. I think one of the criteria is your annual income. Asia Treasures has nice lounge at Changi Airport and airport limo to fetch you on arrival in Singapore, Indonesia, Taiwan.

since you recently joined, can please sic how much you deposited or invested? or maybe took a property loan? surprised they used income as qualification as most banks don't seem to do that

 

[wxswoong]

since you recently joined, can please sic how much you deposited or invested? or maybe took a property loan? surprised they used income as qualification as most banks don't seem to do that

I am not too sure about DBS but Standard Chartered -Premium Bank accepts income for enrollment to their priority banking.

With a salary of at least - $16k per month or $192k per annum would qualify the Priority Banking status without AUM* attached with account RM with full status recognition.

* take note, the Premium bank RMs are very reluctant to take in customers thru income without AUM. Interested bros, pls contact the priority banking hotline (income must be $16k per month or $192k per annum, non-negotiable)

 

[cybercom8]

I am not too sure about DBS but Standard Chartered -Premium Bank accepts income for enrollment to their priority banking.

With a salary of at least - $16k per month or $192k per annum would qualify the Priority Banking status without AUM* attached with account RM with full status recognition.

* take note, the Premium bank RMs are very reluctant to take in customers thru income without AUM. Interested bros, pls contact the priority banking hotline (income must be $16k per month or $192k per annum, non-negotiable)

thanks, already have SC PB...my income too low to qualify any way

just curious about dbs treasures PC not needing the aum to qualify and what rates they are currently offering for deposits.

 

[purpletoysmum]

Didn't deposit fresh funds. Have existing property loans (about 500K). Took out Universal Life type of product from Tokio Marine with loan for part of the premium (this works out to be a better deal than taking term insurance or mortgage insurance at my age as the interest rate is low - of course may increase at a later stage but can repay the loan at any time).

I would join PB for the leveraging opportunities. Not at all interested in the Fixed Deposit so don't know the rates.

 

[jammer_sg]

Didn't deposit fresh funds. Have existing property loans (about 500K). Took out Universal Life type of product from Tokio Marine with loan for part of the premium (this works out to be a better deal than taking term insurance or mortgage insurance at my age as the interest rate is low - of course may increase at a later stage but can repay the loan at any time).

I would join PB for the leveraging opportunities. Not at all interested in the Fixed Deposit so don't know the rates.

Do they take property loans into account? In terms of opportunities what additional do they have to offer on top of Treasures?

 

[cybercom8]

Didn't deposit fresh funds. Have existing property loans (about 500K). Took out Universal Life type of product from Tokio Marine with loan for part of the premium (this works out to be a better deal than taking term insurance or mortgage insurance at my age as the interest rate is low - of course may increase at a later stage but can repay the loan at any time).

I would join PB for the leveraging opportunities. Not at all interested in the Fixed Deposit so don't know the rates.

thanks for sharing.

500K loan with insurance premium can qualify for treasures pc with a normal aum requirement of $1.5M seems like a good deal...unless you have other businesses with dbs...

 

[lalaisgongon]

thanks for sharing.

500K loan with insurance premium can qualify for treasures pc with a normal aum requirement of $1.5M seems like a good deal...unless you have other businesses with dbs...

I thought TPC is always investible assets of 1.5 mil like cash?

now Insurance and loan can consider ah?

 

[cybercom8]

I thought TPC is always investible assets of 1.5 mil like cash?

now Insurance and loan can consider ah?

all the while i think most banks include porperty loans under AUM. last time my friend took property loan from SC and had no deposits/other assets with them but was given PB

 

[lalaisgongon]

Ohhhh
What about Swiss private banks?

UBS? CS? JP?

 

[Inix]

Ohhhh
What about Swiss private banks?

UBS? CS? JP?

You could always look for Mr Anton Casey @ Cross Invest (Asia) Pte Ltd

 

[petrinadious]

Anyone works in UOB's wealth banking? Do UOB staffs who works there receive any perks like for example getting a Privilege banking card?

btw, whats abn amro private banking minimum capital holding in the acct?

 

[purpletoysmum]

Anyone works in UOB's wealth banking? Do UOB staffs who works there receive any perks like for example getting a Privilege banking card?

btw, whats abn amro private banking minimum capital holding in the acct?

For UOB, you still have to meet the AUM criteria to get Privilege banking ($350000). No discounts for staff as far as I am aware.

 

[lalaisgongon]

Anyone works in UOB's wealth banking? Do UOB staffs who works there receive any perks like for example getting a Privilege banking card?

btw, whats abn amro private banking minimum capital holding in the acct?

If i am not wrong, ABN should be 1mil USD

 

[brfish]

Currently more pros than cons. In future, dont know.

Transferring stocks from CDP to DBS nominee , fee is absorbed by DBS.
Transferring stocks from DBS nominee to CDP, you have to pay.

Trading is through DBS online banking, 0.18% fee with no min charge is cheapest so far. Cash paid upfront before buying shares. May not be easy for contra.

If you have local shares, no custodian fee, so far.
For US shares you have to pay custodian fee.

Need to check with RM on the details of all other fees if you have foreign shares, esp for rights issue, dividend distributions etc.

Is DBS the only bank that would allow you to transfer shares from CDP to bank nominee and count that toward AUM?

Actually, what other banks have nominee?

 

[tiny]

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.

Is the RM assigned by the bank or you can request from a photo catalog?

 

[kheng86]

Is DBS the only bank that would allow you to transfer shares from CDP to bank nominee and count that toward AUM?

Actually, what other banks have nominee?

SC loh. SC one is called raffles nominees

 

[cybercom8]

Is the RM assigned by the bank or you can request from a photo catalog?

Lol, assigned by bank lah...if you like, you can request to change RM till you get the one you are eying hahaha

 

[Inix]

Is the RM assigned by the bank or you can request from a photo catalog?

RM not Thai fish tank leh

 

[ahboy82]

RM not Thai fish tank leh

 

[edmwwmde]

It'd be awesome to have a hot thai rm, with room service would be best!

RM not Thai fish tank leh