Standard chart priority banking like nothing much Hor?

[ahnyaahnya]

Don't have to. I transferred from other brokers into scb just to fulfil that 200k Requirement

Is custodial account for shares?

 

[highsulphur]

Is custodial account for shares?

Yes

 

[ahnyaahnya]

Yes

Must pay custodial fees every month?

 

[AST781]

Must pay custodial fees every month?

No need

 

[Tetrafox]

There is one heck of a great deal for those new to stanchart priority banking.

In my case:
1. bonussaver opened in jun 25 is considered as fresh funds
2. the $100k in the bonusaver (which itself is a hysa) can be combined with another $100K deposited in a new FD.
3. The FD is for 6 months beginning the day after you signoff as a priority member and with funds deposited into the FD.
4. FD is 1.5% to $100K (since bonus$aver has the other $100K).
5. The welcome rewards to add to the 1.5% are:
a) $600 to the referral - if you have one (i had a friend but i beleive you can get your family to open any account and you just put his/ her name as referral so that he/ she gets paid) - payable on the 7th month
b) $600 welcome cash (or $1200 if you opt for a CIO unit trust instead - no UT investment needed - it is gifted to you) at the end of the 6 months maturity
c) $500 cash if you opt as an AI

So assuming the bonusSaver does what it does (counted separately), you have for the FD yield (for the 6 months):
1.5%+ 1.2% (referral)+2.4% (UT)+1.0% (AI) =6.1%
or
1.5%+1.2% (referral)+1.2(cash)+1.0% (AI)=4.9 %

You can have joint account with spouse (principal) or children (they being new to stanchart) and this can also work (adjust for bonus interest if AI is not valid in their case)

May I know for your paragraph on FD yield, why do u use 50k as the base to count the 6.1% or 4.9% yields, instead of assuming 200k fresh funds?

 

[ericcsn]

May I know for your paragraph on FD yield, why do u use 50k as the base to count the 6.1% or 4.9% yields, instead of assuming 200k fresh funds?

1. I dont. (Maybe the usage of % confuses you because the commitment is over 6 months).

2. Let me restate this time in absolute amount (BTW the yield in my original post will be slightly different to the latest (and even better) offer).

3. Of the $200K to become a priority member, $100K can be for bonussaver (and bonussaver is now realistically yielding 5.55%)

4, So $100K is the remainder principal amount.

5. FD (1.5% in july for 6 months) = 1.5/100*100k/2 =$750

6. Referral: $600 (otherwise split 50:50 with a friend or (ask) someone e.g. here who has stanchart account to unlock and share this reward)

7. welcome reward: $600 cash or $1200 UT

8. AI welcome reward: $500

9. So total rewards (opting for cash welcome): 750+600+600+500 =$2450

10. interest on the $100K over 6 months: 2450/100000*365/182 = 4.9%

11. if you opt for $1200 (UT): then it is: 3050/100k*365/182=6.1%

12. Note stanchart Aug offer has slightly (overall better rewards) to above (which was for Jul 2025).

13. You can also apply for the priority infinite visa credit card (12 lounge free etc) and probably get fee waived (1st year free).

14. Good luck.

 

[Tetrafox]

1. I dont. (Maybe the usage of % confuses you because the commitment is over 6 months).

2. Let me restate this time in absolute amount (BTW the yield in my original post will be slightly different to the latest (and even better) offer).

3. Of the $200K to become a priority member, $100K can be for bonussaver (and bonussaver is now realistically yielding 5.55%)

4, So $100K is the remainder principal amount.

5. FD (1.5% in july for 6 months) = 1.5/100*100k/2 =$750

6. Referral: $600 (otherwise split 50:50 with a friend or (ask) someone who has stanchart account to unlock this reward)

7. welcome reward: $600 cash or $1200 UT

8. AI welcome reward: $500

9. So total rewards (opting for cash welcome): 750+600+600+500 =$2450

10. interest on the $100K over 6 months: 2450/100000*365/182 = 4.9%

11. if you opt for $1200 (UT): then it is: 3050/100k*365/182=6.1%

12. Note stanchart Aug offer has slightly (overall better rewards) to above (which was for Jul 2025).

13. You can also apply for the priority infinite visa credit card (12 lounge free etc) and probably get fee waived (1st year free).

14. Good luck.

Ah many thanks. I forgot to consider 6 months instead of 1 year.

 

[badkham07]

For wealth holdings, is there a min amount to buy in order to fulfil the criteria?

Sc requirement for lounge access is the need to be wealth holdings.

If i were to buy US stock, i.e $50 usd,wld i fulfil the wealth holdings condition?

Thanks.

 

[ericcsn]

For wealth holdings, is there a min amount to buy in order to fulfil the criteria?

Sc requirement for lounge access is the need to be wealth holdings.

If i were to buy US stock, i.e $50 usd,wld i fulfil the wealth holdings condition?

Thanks.

1. Surprising no need when i met and signed up with the RM (2 of them) and went through what I thought is needed from their website and again when i put them in writing to them.

2. lounge access - no needed for wealth holdings , it is complimentary for 12 visits including a guest - just follow instructions as below https://www.sc.com/sg/priority/priority-pass-faq/

3. BTW, HSBC has also further improved on their premium banking since last month https://forums.hardwarezone.com.sg/threads/lastest-s-deposit-updates-part-3.5575909/post-156865953

https://forums.hardwarezone.com.sg/threads/lastest-s-deposit-updates-part-3.5575909/post-156832917

4. If you are into cc rewards for unlimited lounge access for you and 3 sub cards (perpetual waiver as long as you are a premier banking with AUM or deposit of $200K) or dont mind paying a little at welcome and getting a lot of miles (for flights), check theirs out too.

5. Good luck

 

[Imhthc]

For wealth holdings, is there a min amount to buy in order to fulfil the criteria?

Sc requirement for lounge access is the need to be wealth holdings.

If i were to buy US stock, i.e $50 usd,wld i fulfil the wealth holdings condition?

Thanks.

I read that the wealth holding requirement will be wef 15th Aug 2025. If you get it before this date, there is no need to fulfill the wealth holding condition

 

[crystalnox]

I read that the wealth holding requirement will be wef 15th Aug 2025. If you get it before this date, there is no need to fulfill the wealth holding condition

Not needed only for the current cycle, the next annual renewal will require otherwise 0 complimentary visits.