Consolidated thread for Priority/Privilege Banking

[zoossh]

Anyone knows which privilege banking offers FAST day limit of more than $50k? I know UOB is able to, what about other banks?

to my limited knowledge,
dbs treasures and uob privi is up to 100k.
scb privi up to 50k.

ocbc premier dunno can up to 100k or not

 

[naro]

Serious question.
If i example, take a $1 million plus housing loan from X bank, will X bank grant me priority banking status?

i think HSBC does.

 

[oceanicmanta]

to my limited knowledge,
dbs treasures and uob privi is up to 100k.
scb privi up to 50k.

ocbc premier dunno can up to 100k or not

HSBC Premier also 100k daily

 

[final1]

Eligibility criteria for Standard Chartered Priority Banking
To enjoy the exclusive Priority Banking membership and all the benefits and privileges that come with it, simply maintain a minimum of S$200,000 in deposits and/or investments, or maintain S$1.5 million in housing loans with us.

This is obtained from Standard Chartered website

Thanks for above and the replies
Surfed abit more today.
So, only 2 banks that will give out priority banking status for housing loans based on info on their websites. Here's the exact info.

Standard chartered. $1.5 million loan.
HSBC. $800k loan.

Info for sharing
But, are these amounts actually valid in real-life practice i wonder?

 

[Xasteria]

to my limited knowledge,
dbs treasures and uob privi is up to 100k.
scb privi up to 50k.

ocbc premier dunno can up to 100k or not

Thanks. I call ocbc premier is up to 100k too.

 

[Keverus]

thks that is useful information cos i am considering entering their premier banking.

you're most welcomed.

my family was with ocbc premier for awhile, if you have qns, feel free to ask. i try my best to answer. if i nvr ans, u can PM me to remind, cos maybe i nvr check this thread

 

[lalaisgongon]

you're most welcomed.

my family was with ocbc premier for awhile, if you have qns, feel free to ask. i try my best to answer. if i nvr ans, u can PM me to remind, cos maybe i nvr check this thread

Hi!

just wondering, any major reason/ benefit you stayed with OCBC, rather than move to UOB or DBS?

 

[Keverus]

Hi!

just wondering, any major reason/ benefit you stayed with OCBC, rather than move to UOB or DBS?

erm. they OCBC one belonged to my aunt actually. older generation liked having OCBC as their secondary account, dont ask me why. just ask ur elders, likely they have OCBC.

personally I'm with DBS treasures. just went in around feb. no comments on their service since i dont rly go their branches anyway.

just wondering how SCB would be like. my stocks are with SCB and since they count stocks, maybe one day i will hit the requirement. still far away tho

 

[zoossh]

Thanks. I call ocbc premier is up to 100k too.

you're most welcomed.

my family was with ocbc premier for awhile, if you have qns, feel free to ask. i try my best to answer. if i nvr ans, u can PM me to remind, cos maybe i nvr check this thread

thks at the moment, i got the key answers needed.

the main reason i wanted ocbc premier is for the higher fast limit. only provided they do not deduct $50 or cancel the premier account.

there isnt enough reason for me to hold 200k constantly there. my 360/srs funds inside at most 70k. any reason or option to put 200k there and not had a loss?

1. ocbc 360 limits to 1st 60k only, 1% incremental rates req 2 acc
2. ocbc bp only once in 3 months and will stop by dec
3. ocbc fd lousy rates

 

[lalaisgongon]

erm. they OCBC one belonged to my aunt actually. older generation liked having OCBC as their secondary account, dont ask me why. just ask ur elders, likely they have OCBC.

personally I'm with DBS treasures. just went in around feb. no comments on their service since i dont rly go their branches anyway.

just wondering how SCB would be like. my stocks are with SCB and since they count stocks, maybe one day i will hit the requirement. still far away tho

Could I check with you if premier cust get their ocbc voyage card's annual fee waived?

 

[Keverus]

Could I check with you if premier cust get their ocbc voyage card's annual fee waived?

cannot. and they are firm on this.

ocbc's credit card is the most miser. cc limit low. even some basic cards (eg titantium and robinson) cannot waive annual fee.

 

[zoossh]

cannot. and they are firm on this.

ocbc's credit card is the most miser. cc limit low. even some basic cards (eg titantium and robinson) cannot waive annual fee.

some of the measures are probably more conservative but in times of economical crisis, close to half of the population will desert their homes and most of them will max out their cc spending and flee without paying.

when i got my cc from scb, i was shocked to see that they allow cc limit of 8x my salary. quite siao, can buy a few cars liao.

 

[OCBC Bank]

Anyone knows which privilege banking offers FAST day limit of more than $50k? I know UOB is able to, what about other banks?

Hi

Came across your post, and just wanted to confirm that yes. Premier customers enjoy a higher daily FAST limit of $100k

However, there is a monthly cap of $300k. Hope this helps
^Shereen

 

[Xasteria]

Happen to be going around checking out priority banking services this weekend and saw this thread, so I thought I would share:

1. There is a recent article on MoneySmart about priority banking: The Best Priority Banking Accounts in Singapore | MoneySmart.sg

2. DBS Treasures: The free 40k KF miles was alittle confusing for me but I sorted it out. To start a new relationship, you need initial deposit of $350k, then you need to maintain $300k for 6 months to be entitled for the 40k KF miles. After that, you can drop down to $200k AUM.

Stocks bought thru DBS Vickers do not count towards AUM. However, they have DBS Trading (custodian account), which has almost the same brokerage fee as Vickers. You keep your money in your DBS/POSB savings account, then GIRO/EPS when you buy shares. There is no maintenance fee.

3. Citigold: I went to take a look at them because I was lured by their global fund transfer (to citibank overseas) and free ATM withdrawals, as I am staying overseas. However, I realised normal Citibanking accounts also can get these for free! I don't see anything else special about them; no unique privileges, investment products, etc. Or maybe cuz I was served on a busy Saturday by a bunch of youngsters at Holland V, so didn't a proper explanation...

4. OCBC Premier: OCBC is the only bank where their securities trading arm is ONE COMPANY with the bank, therefore stocks bought thru their brokerage is counted towards your priority banking AUM. They also have custodian account called Equity Plus Account, but once you put money / stocks inside, you will be charged maintenance fee (no fee if the account is empty).

5. SCB: I was totally enticed by SCB because of their 60k KF miles promo (+30k miles if you refer a friend!!), and heard their brokerage fee is one of the lowest. HOWEVER, I was very turn-off by the slow and messy service at Holland V.

When I finally managed to get seated with a staff, he told me he cannot open an account for me because SCB had classified me as a delinquent account! Nothing embarrassing, I will tell you all why: 8 years ago, I refused to pay a CC annual fee of $180, which ballooned into $400+ and I got a legal letter. I made a big fuss and told them to cancel the card and deal with all these nonsensical charges - little did I know they actually wrote it off as bad debt! The staff told me I can APPEAL to get the tagging off, so I laughed at his face, I am putting money into your bank for investments and I need to APPEAL to do it?? Thanks but no thanks!!

Summary: After thinking the whole weekend, in the end I went with Treasures because of (1) KF miles, (2) nice treasures centre at MBFC, (3) sweet RM. Hey, I am just being frank!

Now they are trying to sell me some mutual funds and ELN, so let's see how it goes for these 6 months!

Anyone know if iOCBC is counted towards AUM for OCBC Premier? I went down but shared that it is not.

Shereen, can help to clarify?

 

[Keverus]

pretty sure ocbc dont count ur securities amt.

which priority do btw?

 

[cybercom8]

pretty sure ocbc dont count ur securities amt.

which priority do btw?

custodian accounts - citigold, standard chartered...probably ocbc too

 

[Keverus]

ocbc securities not custodian lei...

 

[cybercom8]

ocbc securities not custodian lei...

from their affinity program...they have custody services for foreign shares

http://www.ocbc.com/personal-banking/affinity.html

 

[xxxjhxxx]

Hi,

Can you all share the credit facility / line of credit rates that you are getting based on your portfolio? Hopefully this information will help people to get the best rates.

Format as follows:

Bank: e.g. Citibank
Membership type: e.g. Citigold
Portfolio used for credit facility/margin: e.g. stocks / bonds
Loan % based on portfolio value (ie. a loan of 150k based on 250k bond = 60%) : e.g 60% for stocks, 80% for bonds
Credit facility rate: e.g. 1% pa renewable yearly
Pros: e.g. Good rates
Cons: e.g. high commission for bonds


I will start with mine:
Bank: SCB
Membership type: Priority
Portfolio used for credit facility/margin: bonds
Loan % based on portfolio value: around 50 - 70% for different bonds
Credit facility rate: e.g. 1.8-2% pa (may change monthly)
Pros: Generally good rates but they just increased the rates recently
Cons: Complex procedure / branch RMs inexperienced in setting up the facility

 

[neanea]

Why do you borrow money to buy bonds or stocks?