DBS Treasures benefit?

[yuzu28]

I didn't receive the email. My RM recently left and new RM did not contact me. But when I look at the page, I have an RM assigned. Anyway, it doesn't really matter as I normally DIY. I'm not particular about the status but just a place to park cash safely and when you feel like buying a stock, you can just click 100 shares for fun of it. Previously when I don't have a dbs savings account, they are already providing better service for credit cards as compared to other banks. By better service I mean they never fail to waive any fees for me. But other banks like UOB, OCBC are pretty strict.

As for custodian fee for overseas, it is quite common among banks, so not sure what's the issue. Citibank, ocbc, uob priority all charge custodian fee for overseas market. Dbst no doubt seems more costly. Then, just use scb priority. Every bank has their pros and cons, like citi and scb charges a one time sales redemption charge or 1.5% for ut. Dbs charges 0.82% sales charge but unknown if there is any redemption charge.

 

[hwmook]

I didn't receive the email. My RM recently left and new RM did not contact me. But when I look at the page, I have an RM assigned. Anyway, it doesn't really matter as I normally DIY. I'm not particular about the status but just a place to park cash safely and when you feel like buying a stock, you can just click 100 shares for fun of it. Previously when I don't have a dbs savings account, they are already providing better service for credit cards as compared to other banks. By better service I mean they never fail to waive any fees for me. But other banks like UOB, OCBC are pretty strict.

As for custodian fee for overseas, it is quite common among banks, so not sure what's the issue. Citibank, ocbc, uob priority all charge custodian fee for overseas market. Dbst no doubt seems more costly. Then, just use scb priority. Every bank has their pros and cons, like citi and scb charges a one time sales redemption charge or 1.5% for ut. Dbs charges 0.82% sales charge but unknown if there is any redemption charge.

Citibank state there is no redemption charge for unit trusts. Its almost a given that there is no redemption charges, only sales charge for unit trusts.

 

[saggice]

Don think they will reopen back, even if yes, it will take a long time. DBS is moving towards digital and atm lobbies instead.

Personal touch will be lost forever.

Thought they say temp close only?

 

[Sinkie]

I didn't receive the email. My RM recently left and new RM did not contact me. But when I look at the page, I have an RM assigned. Anyway, it doesn't really matter as I normally DIY. I'm not particular about the status but just a place to park cash safely and when you feel like buying a stock, you can just click 100 shares for fun of it. Previously when I don't have a dbs savings account, they are already providing better service for credit cards as compared to other banks. By better service I mean they never fail to waive any fees for me. But other banks like UOB, OCBC are pretty strict.

As for custodian fee for overseas, it is quite common among banks, so not sure what's the issue. Citibank, ocbc, uob priority all charge custodian fee for overseas market. Dbst no doubt seems more costly. Then, just use scb priority. Every bank has their pros and cons, like citi and scb charges a one time sales redemption charge or 1.5% for ut. Dbs charges 0.82% sales charge but unknown if there is any redemption charge.

The email is sent by the team, not by DBS I think

 

[yuzu28]

Citibank state there is no redemption charge for unit trusts. Its almost a given that there is no redemption charges, only sales charge for unit trusts.

Yes, citi and scb charge only a one-time sales charge (no redemption fee). U happen to know if local banks charge for redemption? I goggled but dun seem to find any info.

 

[hwmook]

Yes, citi and scb charge only a one-time sales charge (no redemption fee). U happen to know if local banks charge for redemption? I goggled but dun seem to find any info.

No redemption charges for all banks or fund distributors AFAIK. Only FSM charge platform fees. Sales charge vary widely depending on platform, unit trusts can be transferred to different platform so you can buy at zero charges on 1 platform and transfer in to another platform.

 

[Sinkie]

Don think they will reopen back, even if yes, it will take a long time. DBS is moving towards digital and atm lobbies instead.

Personal touch will be lost forever.

They are closing suntec and Seletar Mall posb too iirc seeing

 

[TUV2008]

The next e mail you are going to receive from them will be closing down of some DBS treasure lounge, since the ** period it has become white elephant

Posted from PCWX using iPhone11,8

 

[hwmook]

The next e mail you are going to receive from them will be closing down of some DBS treasure lounge, since the ** period it has become white elephant

Posted from PCWX using iPhone11,8

Cut costs so they can give better rewards for customers. DBS credit cards are giving very good rewards for 2020.

 

[Sinkie]

Cut costs so they can give better rewards for customers. DBS credit cards are giving very good rewards for 2020.

Maybe better to be their shareholders

 

[yuzu28]

No redemption charges for all banks or fund distributors AFAIK. Only FSM charge platform fees. Sales charge vary widely depending on platform, unit trusts can be transferred to different platform so you can buy at zero charges on 1 platform and transfer in to another platform.

Thanks! Didn't know that it can be transferred easily.

 

[TUV2008]

Cut costs so they can give better rewards for customers. DBS credit cards are giving very good rewards for 2020.

Oh is it? They just sent me the new treasurer Amex card I have not used yet, I have another sia PPS Amex also seldom use because many joint not taking Amex.

Sent from MI 10 PRO 版權@TUV2008 翻印必究 Lim Kopi using GAGT

 

[hwmook]

Oh is it? They just sent me the new treasurer Amex card I have not used yet, I have another sia PPS Amex also seldom use because many joint not taking Amex.

Sent from MI 10 PRO 版權@TUV2008 翻印必究 Lim Kopi using GAGT

Their general consumer level cards give better rewards.

 

[klarklar]

Assume a DBS Treasures client is eligible to be Accredited Investor (AI). What are the benefits to declare one's status as AI?

So far, I see only cons but no pros. Being AI means one loses regulatory protection when buying financial products. It could also mean more nuisance calls from bank relationship managers. I think there should be some benefits that I don't know. Otherwise, who wants to declare as AI?

 

[Sinkie]

Assume a DBS Treasures client is eligible to be Accredited Investor (AI). What are the benefits to declare one's status as AI?

So far, I see only cons but no pros. Being AI means one loses regulatory protection when buying financial products. It could also mean more nuisance calls from bank relationship managers. I think there should be some benefits that I don't know. Otherwise, who wants to declare as AI?

My relationship manager rushed to upgrade me to AI before this team change, and benefits she is able to offer me other financial products and foreign ipo that are not available to retailers investors

Yes, you loses regulatory protection when buying financial products from DBS, that’s all, and you cannot go honglim park to protest

Well, at least i still have a relationship manager now.

 

[klarklar]

My relationship manager rushed to upgrade me to AI before this team change, and benefits she is able to offer me other financial products and foreign ipo that are not available to retailers investors

Yes, you loses regulatory protection when buying financial products from DBS, that’s all, and you cannot go honglim park to protest

Well, at least i still have a relationship manager now.

Any other benefits as an AI client besides having RM? I don't see that as big benefit. If RM goes on leave or falls sick or super busy with selling high-commission products, then no one serve you liao. Sometimes, having a team to serve you is better because one is not dependent on single person.

 

[Sinkie]

Any other benefits as an AI client besides having RM? I don't see that as big benefit. If RM goes on leave or falls sick or super busy with selling high-commission products, then no one serve you liao. Sometimes, having a team to serve you is better because one is not dependent on single person.

I still have the team that i can send my query to, but i can also Whatsapp my relationship too, but anyway i still prefer to DIY most of the time, and she will send me any new product she has on hand, more choices also

What other benefit you want? Free lunch? Dinner? I know some banks offer to lend you cheaper fund when you are an AI.

 

[sk0065]

Any other benefits as an AI client besides having RM? I don't see that as big benefit. If RM goes on leave or falls sick or super busy with selling high-commission products, then no one serve you liao. Sometimes, having a team to serve you is better because one is not dependent on single person.

Just call and Sms/ WhatsApp

If never reply.
Call treasures hotline, ask their manager to call me liao.

Won’t never reply la.
Bz will also reply “I’m busy. Call you later.”

 

[skpuppy]

Don think they will reopen back, even if yes, it will take a long time. DBS is moving towards digital and atm lobbies instead.

Personal touch will be lost forever.

Well, this is a big joke. Singapore biggest bank, Development Bank of Singapore has now become Digital Bank of Singapore. Really cmi. Lol! You don’t see ICBC becoming Ant financials.

 

[Sinkie]

Well, this is a big joke. Singapore biggest bank, Development Bank of Singapore has now become Digital Bank of Singapore. Really cmi. Lol! You don’t see ICBC becoming Ant financials.

This is a maximising profit model, that’s why I say it is better to be a shareholder of DBS than a client.

Even their RM incentive scheme was also revised, revised to a scheme I expect more RM will leave eventually