Privilege banking and fall below fee.

[zoossh]

Does the banks really charge fall below fee if u no longer keep more than 200k in that bank?

or do they just leave it alone cos no point burning bridge with customers that had potentials for future banking relationship?

 

[arctician]

depends on banks

UOB high yield..no

CIMB preferred..no

HSBC premier..yes $50 but if u leave it at zero they cant deduct anything

SCB priority..yes $50

rest of banks..rates too lousy so never try

 

[zoossh]

depends on banks

UOB high yield..no

CIMB preferred..no

HSBC premier..yes $50 but if u leave it at zero they cant deduct anything

SCB priority..yes $50

rest of banks..rates too lousy so never try

scb charges ah? sian.

 

[arctician]

scb charges ah? sian.

they charge to e visa infinite card if i m not wrong

scb is a good for holding shares as it counts towards 200k aum

 

[hindsight]

depends on banks

UOB high yield..no

CIMB preferred..no

HSBC premier..yes $50 but if u leave it at zero they cant deduct anything

SCB priority..yes $50

rest of banks..rates too lousy so never try

I have been an SCB priority customer for 4+ years and they have never charged me a fall below fee.

 

[zoossh]

I have been an SCB priority customer for 4+ years and they have never charged me a fall below fee.

wat is the longest duration that u had an aum below 200k?

 

[hindsight]

wat is the longest duration that u had an aum below 200k?

A few months, maybe around 6-9 months.

 

[arctician]

They charge to e vi card. .maybe coz u didnt have that

 

[wts2013]

They charge to e vi card. .maybe coz u didnt have that

wah then I cancel the vi hahaha, can request to downgrade then they cannot charge, hahaha, so far they never charge me, if they do, then hahaha

 

[hindsight]

They charge to e vi card. .maybe coz u didnt have that

They will charge it to any of your accounts if they want to, got nothing to do with VI, anyway...

They have never tried to charge me card membership fee either, don't even need to call for waiver.

 

[arctician]

wah then I cancel the vi hahaha, can request to downgrade then they cannot charge, hahaha, so far they never charge me, if they do, then hahaha

but e VI card is linked to priority pass..good leh e pass unlimited access to airport lounge

They will charge it to any of your accounts if they want to, got nothing to do with VI, anyway...

They have never tried to charge me card membership fee either, don't even need to call for waiver.

ur VI is outdated n probably deactivated..e new card is e one with the token built inside..its my RM who told me about the VI $50 charge if aum falls below $200k..so i always try hit e aum coz of the priority pass

 

[hindsight]

but e VI card is linked to priority pass..good leh e pass unlimited access to airport lounge



ur VI is outdated n probably deactivated..e new card is e one with the token built inside..its my RM who told me about the VI $50 charge if aum falls below $200k..so i always try hit e aum coz of the priority pass

Its the same card duh, that card is SCB's 2FA card, I chose to have it linked to my xtrasaver card, because I never use that card and I don't want to bring my 2FA token out.

The pic is probably too low res so you cant see but my card is good thru Oct 2016, also member since 2010, so 4+ years and I have never been charged a fall below fee or membership fee.

I don't know why SCB is so good to me, but I think its probably because I gave them a lot of business last time, they must have made over 2k from me, from wire transfers alone. So this kind of thing is case by case basis...

 

[arctician]

Its the same card duh, that card is SCB's 2FA card, I chose to have it linked to my xtrasaver card, because I never use that card and I don't want to bring my 2FA token out.

The pic is probably too low res so you cant see but my card is good thru Oct 2016, also member since 2010, so 4+ years and I have never been charged a fall below fee or membership fee.

I don't know why SCB is so good to me, but I think its probably because I gave them a lot of business last time, they must have made over 2k from me, from wire transfers alone. So this kind of thing is case by case basis...

ts asking on standard charges..and $50 for VI is indeed standard charge..urs maybe is exceptional case but shouldnt be applied to geenral public..well unless u wan to show off ur VI card which is quite common nowadays..every boy n girl has it

just read from scb..fee $50 and can be waiver if AUm maintain at 200k

 

[hindsight]

ts asking on standard charges..and $50 for VI is indeed standard charge..urs maybe is exceptional case but shouldnt be applied to geenral public..well unless u wan to show off ur VI card which is quite common nowadays..every boy n girl has it

How do know its standard charge? Look here I don't know why SCB didn't charge me, I was only assuming that its due to the wire transfers but I could be wrong, anyway I only did the wire transfers in 2011, and I was never charged a fall below fee in 2010.

I only put up a pic because you said I got no SCB VI, its called GPGT.

FWIW many banks already don't charge fall below fees for priority or privilege banking. A few months ago a fellow from UOB called me to ask me to join their privilege banking, only need to deposit 350k, after that can withdraw straight away, no fall below fee. I wrote about this on another thread some time ago.

The way I see it is that banks don't really need your money, they just want your business, the ultimate aim is to build up a portfolio of customers who they can then sell their products and services to. You should take your business elsewhere if your bank is charging you some stupid fall below fee.

 

[hindsight]

http://forums.hardwarezone.com.sg/m...ing-any-experience-suggestions-3900820-2.html

Also read the experience of others on that thread, some people also maintained minimal balance but they were never charged any stupid fall below fee.

 

[teoth76]

Does the banks really charge fall below fee if u no longer keep more than 200k in that bank?

or do they just leave it alone cos no point burning bridge with customers that had potentials for future banking relationship?

Citibank does religiously $50 / mth if deposits below $200k

 

[henrylbh]

My starsaver account with only $9k converted to preferred account recently

They gave me a preferred card and a new ATM card. Just because I got housing loan

 

[zoossh]

anyone knows if ocbc charges in real practice (i mean not just in their terms and conditions)? this month more money insai bonus plus, dunno should upgrade or not.

 

[focus1974]

heng i got no priority accounts..!

 

[limster]

My starsaver account with only $9k converted to preferred account recently

They gave me a preferred card and a new ATM card. Just because I got housing loan

You are right, certain banks do auto-convert you to privilege/premier banking, no need to apply and no fall below fee (because you never applied for it and did not sign the T&C, meaning you never agreed to the fees)