Consolidated thread for Priority/Privilege Banking

[highsulphur]

How long you have to park it for? If it's okay, just park it, take the bonus, and terminate account after that heh.

T&c states min 6 months iirc

 

[lcpteck]

T&c states min 6 months iirc

I don't mind parking it there for 6 months and collect the bonus and bug out hehe.. I don't have that few million though...

 

[highsulphur]

I don't mind parking it there for 6 months and collect the bonus and bug out hehe.. I don't have that few million though...

You can probably get 1.6% interest for 6 months for that amount. If Dbs doesn't have any promo and forces you to place in a current account, you max opportunity cost can be up to $12K for that six months. In that regard, the 120K miles don't seen worth it.

Ultimately the key is what interest is Dbs paying for that 6 months

 

[invisible999]

You can probably get 1.6% interest for 6 months for that amount.

In SIN $? Where?

 

[highsulphur]

In SIN $? Where?

Uob high yield. Maybank fixed dep.

 

[Allen_C_Sharp]

Just got invited to join DBS Treasures Private Client. Wonder if its any good though I must say the sign up bonus is pretty tempting; 120K Miles and a stay at any W Hotel worldwide. Anyone has any experience with TPC?

Thanks!

120k miles = $2400, even if 1% of 1.5m interest for 6 months is $7500, so $ value not worth it.

 

[swatchie]

120k miles = $2400, even if 1% of 1.5m interest for 6 months is $7500, so $ value not worth it.

That's if you value 1K miles @ $20/1K. I actually value them @ ~ $15/1K So that's worth only $1800. But that's not including the W stay, which I reckon is worth ~ $500 - $800, depending on which W and the stay period. Total $2,600 tops.

Think I will call DBS to enquire on the FD interest rates first.

 

[invisible999]

Uob high yield. Maybank fixed dep.

What is the minimum amount and time required?

 

[ipaq4444]

Thank you Sir

 

[w4rdsg]

Stan Chart

Standard Chartered doesn't seem to publicise eligibility criteria for Priority banking. Anyone happen to know? Worth it?

 

[naro]

Standard Chartered doesn't seem to publicise eligibility criteria for Priority banking. Anyone happen to know? Worth it?

should be S$200k AUM

 

[Eternity11]

Anyone knows whether Citibank consider mortgage loan as part of AUM? It is stated in their T&C in point (iii) below, but what is outstanding amount payable? Is it the monthly instalment amount or the loan balance?

The Total Relationship Balance ('TRB') is defined as the sum of:
(i) the average daily balance of your checking, savings and deposit accounts,
(ii) the average daily value of your investments, and
(iii) all outstanding amount(s) payable on your secured loan accounts as of the date of your last statement.
Citibank's determination of 'TRB' will be conclusive.

 

[kwokwing]

should be S$200k AUM

Confirm yes (was told by Stand Chart in dec 2015)

 

[Panerex]

Would you continue to park $200K FD in SCB just to retain the PB status?

Or should re-park to another bank for another PB?

 

[w4rdsg]

Would you continue to park $200K FD in SCB just to retain the PB status?

Or should re-park to another bank for another PB?

I don't think you should park money anywhere just for status. Invest your money as you see fit and if it comes with status that's a nice bonus.

 

[kheng86]

Would you continue to park $200K FD in SCB just to retain the PB status?

Or should re-park to another bank for another PB?

Can park your shares with SC for the 200k AUM requirement

Sent from using GAGT

 

[Panerex]

Can park your shares with SC for the 200k AUM requirement

Sent from using GAGT

We can really do that?

 

[naro]

We can really do that?

yup.. you can..

 

[ericsem]

Yes 200K AUM will get you the PB status with SCB but the service sucks. Was told there is a 'grace period' of 3 months when the account (mine was dormant previously) was upgraded to a PB account and until then no contact from my RM nor any communication at all of who my RM is nor her contacts. Imagine I have to approach the bank personally just to get the contact details of my RM.

 

[naro]

Yes 200K AUM will get you the PB status with SCB but the service sucks. Was told there is a 'grace period' of 3 months when the account (mine was dormant previously) was upgraded to a PB account and until then no contact from my RM nor any communication at all of who my RM is nor her contacts. Imagine I have to approach the bank personally just to get the contact details of my RM.

I'd rather the RM don't contact me. I want the PB status for the lower equity trading fees.