SC priority versus priority private, worth joining the latter?

[ctan84]

Because your "Priority customer" missing the "Private" meh, suggest you go for an upgrade?
P/S: I am not SC RM

To hit that amount for the AUM, I need to transfer everything from CDP over to stand chart siah. Not worth the effort.

 

[limster]

most people on MM/SSI DIY their own investments and are not the target audience for PB / PP.

when it comes to SCB, it used to be my no.2 investment platform with IBKR no.1. (However, I don't believe in putting everything with IBKR, prefer to diversify my custodians)

FSMOne is constantly innovating and coming up with new offerings at lower cost (eg: better FX), so I think FSMOne has moved into no.2 spot.

I still use SCB for small top-ups of my existing holdings since there is no min comm, but otherwise, like I mentioned elsewhere, if you have a larger order like 10000 FLCT, its more worth it to use FSMOne or IBKR SG if you have it.

 

[yslvlys]

The jump in requirement from pb to ppb like so drastic, from 200k to 1.5M

 

[reddevil0728]

The jump in requirement from pb to ppb like so drastic, from 200k to 1.5M

Yea cause it’s not targeted at people who are just looking for trivial benefits

 

[limster]

The jump in requirement from pb to ppb like so drastic, from 200k to 1.5M

actually SCB will be the easiest to qualify if they accept your ETFs in your online trading account as part of AUM.

OCBC, UOB, have similar criteria $1.5m/$2m but they don't offer anything worth putting $1.5m into....

 

[reddevil0728]

actually SCB will be the easiest to qualify if they accept your ETFs in your online trading account as part of AUM.

OCBC, UOB, have similar criteria $1.5m/$2m but they don't offer anything worth putting $1.5m into....

access to the primary benefits is their main offer. if looking for those trivial ones. then yes definitely not worth putting much if any in it

 

[limster]

access to the primary benefits is their main offer. if looking for those trivial ones. then yes definitely not worth putting much if any in it

by the way, which bank do you have priority/premier with, I notice you haven't shared your experience with your bank or even mentioned whether your PB is with SCB (this thread is about SCB), which PB benefits do you use the most?

 

[reddevil0728]

by the way, which bank do you have priority/premier with, I notice you haven't shared your experience with your bank or even mentioned whether your PB is with SCB (this thread is about SCB), which PB benefits do you use the most?

Access to complex products and leverage can be quite useful. And of course getting lower rates with home loan because of investments too

 

[elvintay07]

Invited to join means you can apply but they need to see the fund. I don’t think is guaranteed one

 

[singaporean11]

actually SCB will be the easiest to qualify if they accept your ETFs in your online trading account as part of AUM.

OCBC, UOB, have similar criteria $1.5m/$2m but they don't offer anything worth putting $1.5m into....

Many of the local banks PB cannot make it one, only want to make max amount of money from you but yet provide poor features and investment options and also little to no other benefits!

E.g. DBS Treasures RM previously agreed to waive my custodian fees of stocks in DBS Treasures (the only benefit I get, nothing else compared to SC! Not even a VI credit card nor free airport lounge access nor birthday cake etc.!), then one day a new head took over and and they started to impose custodian fees on my stocks saying the order is from the top. So I shifted all my stocks and money out of DBS Treasures!

Only stupid idiots pay custodian fees for stocks/bonds they bought on top of transaction fees they are already paying!

 

[royalmix]

The good times are over?

Now I am only ordinary customer, I get rewarded with FD-like deposits at more than 6% pa for 3-5mths! (not matured yet)

Donkey years ago, as SCB PB customer, nothing much, other than lower commission in trades. Then suddenly got invited to yearly CNY investment talks cum buffet, collect PB redpackets, received x'mas tarts from Cheryl Koh, etc. Then got downgraded cos never fund account for another donkey years!

 

[singaporean11]

The good times are over?

Now I am only ordinary customer, I get rewarded with FD-like deposits at more than 6% pa for 3-5mths! (not matured yet)

Donkey years ago, as SCB PB customer, nothing much, other than lower commission in trades. Then suddenly got invited to yearly CNY investment talks cum buffet, collect PB redpackets, received x'mas tarts from Cheryl Koh, etc. Then got downgraded cos never fund account for another donkey years!

after "another donkey years"? SC is already too kind, you try OCBC or DBS and they will kick you out of PB after 1 year of insufficient funding in account!

 

[limster]

Access to complex products and leverage can be quite useful. And of course getting lower rates with home loan because of investments too

why not share more details on what complex products you find good enough to invest in? and also what rates you are getting for leverage, (and what bank). This will enable other investors to compare which bank priority is the best and whether priority or priority private actually gives you better rates.

Otherwise, no point passing remarks that people only look at 'trivial' benefits when you don't want to share with others the 'substantive' benefits.

On the other hand, if you are not actually using any of these "benefits", then one wonders why you think they are so good. I don't find any of their offerings attractive enough to put my hard-earned cash in.

 

[reddevil0728]

why not share more details on what complex products you find good enough to invest in? and also what rates you are getting for leverage, (and what bank). This will enable other investors to compare which bank priority is the best and whether priority or priority private actually gives you better rates.

I am not expressing nor have I been expressing an opinion as to whether they are good to invest in or are their rates good. I am simply just stating a fact they such programmes provide access to investment options and leverage not ordinarily available to retail customers.

my point from the get-go has been that such programmes primary benefits are such targeting those people who desire such access, and not meant to target those retail customers who are looking for benefits that are "trivial" in comparison to what the primary benefits are meant for.

Otherwise, no point passing remarks that people only look at 'trivial' benefits when you don't want to share with others the 'substantive' benefits.

another user has shared here.

For those looking for more juice, credit to others already mentioned here, if you are "AI" (Accredited Investor) with "Aggressive" investment profile, you also get access to:

No custodian fees for custodian of stocks and bonds
Many different markets for trading stocks
Leverage
Bonds (wide range, not just SG)
Equity/bond loan
Low Forex rates (can DIY online)
more complex products (ELN, structured deposits/products) etc, that's not typically available to retail customers.

Another added benefit is that your SC RM come to your home or anywhere you prefer to meet you (you don't have to go to their office)

Did I still miss anything else?

On the other hand, if you are not actually using any of these "benefits", then one wonders why you think they are so good. I don't find any of their offerings attractive enough to put my hard-earned cash in.

again i am not sure why you read it as I am saying they are good.

on the contrary, I think i am quite neutral. I am just trying to put things into perspective.

retail customers have certain expectations what the programme is for, but they get disappointed when the "benefits" are nothing to shout about.

but from the banks perspective, their primary target audience is those people who are seeking access to those investment options and leverage (just to name a few), hence of course expectations aren't aligned.

 

[TakumiFuji]

Isn’t there a travel concierge for private customer? I wonder how travel concierge works

 

[reddevil0728]

I have experience with SC, OCBC, DBS and HSBC. HSBC literally has nothing till 2 months ago they gave a premier card with priority pass which allow 6 lounge visit. SC revamped their perks this year, cut down on the limo from unlimited to 8 times but allow to use in like 30 different countries. OCBC and DBS have unlimited limo transfer, 1 from home to airport, 1 from airport to home. The rest depends if you have a good RM to service you

dbs got unlimited limo transfer? for just treasures?

 

[reddevil0728]

All are same tier as scb priority private

Ah for DBS then is TPC

 

[Hyphos]

My SCB PB RM never replies to my emails or app chat messages. Is this normal? I asked for red packets and some SCB shares transfer promo which they say have to go through RM.

 

[ahnyaahnya]

As a SCB Priority customer, I recently received an invitation to join Priority Private.

I see the online trading brokerage fee is 0.15%, isn't priority already that amount as well?

Worth joining? https://www.sc.com/sg/priority/priority-private/

Is it 0.15% ?
Must there be a minimum transaction amount to qualify for 0.15%?.
We are accredited Investors but haven't bought anything through them. Wasn't aware of this low brokerage fees . Where to get the info? Any link ?

 

[ahnyaahnya]

Is it 0.15% ?
Must there be a minimum transaction amount to qualify for 0.15%?.
We are accredited Investors but haven't bought anything through them. Wasn't aware of this low brokerage fees . Where to get the info? Any link ?

Found the information.
I don't think I qualify. It's for those who join from Oct? I submitted my form for AI a few days before end of Sept. Iirc , approval was immediate or almost so.