Standchart eSaver

[direbmem]

Haha just to be clear when you all were saying PB above, you all were talking about private or priority banking?

 

[DevilPlate]

Jin satki….private banking damn high ses
min 1.5M in liquid investible asset

SC term it as Priority Private.

 

[NTTDoCoMo]

I realized I am priority banking status in my SC app. I didn't request for it and in fact rejected it when they wanted to upgrade me a few years ago. Shouldn't I get some special credit card with PB?

PB is not priority banking bro. Referring to Private Banking = PB for the special credit card l

For Priority Banking, there is Priority Visa Infinite Card.

https://www.sc.com/sg/credit-cards/priority-visa-infinite-card/

 

[direbmem]

For Priority Banking, there is Priority Visa Infinite Card.

https://www.sc.com/sg/credit-cards/priority-visa-infinite-card/

Ya how come I wasn't given this card Sia when they auto include me in priority banking without my consent..

 

[direbmem]

Jin satki….private banking damn high ses
min 1.5M in liquid investible asset

SC term it as Priority Private.

Haha then it's PP or PPB.

 

[NTTDoCoMo]

Ya how come I wasn't given this card Sia when they auto include me in priority banking without my consent..

i think need to apply for it.

 

[CrashWire]

Ya how come I wasn't given this card Sia when they auto include me in priority banking without my consent..

I think it's illegal to issue people new credit cards without their consent, whereas publicly segmenting customers wouldn't be:

https://sso.agc.gov.sg/SL/BA1970-S729-2013?ProvIds=P1II-#pr10-

 

[crystalnox]

PB is not priority banking bro. Referring to Private Banking = PB for the special credit card l

If you look up SC’s terminology, Private is PP, Priority is PB.

 

[zeroX26]

Ya how come I wasn't given this card Sia when they auto include me in priority banking without my consent..

Coz this card needs both PB status and a specific income threshold to apply.

 

[Hulky8]

PB is not priority banking bro. Referring to Private Banking = PB for the special credit card l

Priority banking 200k
private bank customers 1.5 mio
mass banking like me 50k ,these type plenty in Spore they treat like dirt,suka suka remove u
by saying top up another 50k to enjoy new rates which we don’t have….
so in real life,the more you ve the higher the respect,,so those of us who are in the 50k to 200k category n being shoved at,,do not despair cause that’s life,,,
I heard if yu re in the UHN (ultra high net worth) category of Sgd 15 mio n above, they really pamper you like hell,,,,so money talks bro

 

[vsvs24]

I think it's illegal to issue people new credit cards without their consent, whereas publicly segmenting customers wouldn't be:

https://sso.agc.gov.sg/SL/BA1970-S729-2013?ProvIds=P1II-#pr10-

Is there a similar rule where banks are not supposed to solicit loan eg send you those cheques with your name printed to bank in to activate a loan ?

 

[crystalnox]

Priority banking 200k
private bank customers 1.5 mio
mass banking like me 50k ,these type plenty in Spore they treat like dirt,suka suka remove u
by saying top up another 50k to enjoy new rates which we don’t have….
so in real life,the more you ve the higher the respect,,so those of us who are in the 50k to 200k category n being shoved at,,do not despair cause that’s life,,,
I heard if yu re in the UHN (ultra high net worth) category of Sgd 15 mio n above, they really pamper you like hell,,,,so money talks bro

If you have $15MM in deposits and products with the bank, you are also pampering the bank’s bottom line like hell.

 

[zippo1979]

SCB has many tiers.

Retail
Priority Banking
Priority Private Banking
Private Banking
UHNW Private Banking

 

[saintgtril]

Priority banking 200k
private bank customers 1.5 mio
mass banking like me 50k ,these type plenty in Spore they treat like dirt,suka suka remove u
by saying top up another 50k to enjoy new rates which we don’t have….
so in real life,the more you ve the higher the respect,,so those of us who are in the 50k to 200k category n being shoved at,,do not despair cause that’s life,,,
I heard if yu re in the UHN (ultra high net worth) category of Sgd 15 mio n above, they really pamper you like hell,,,,so money talks bro

Hi, care to elaborate more on the UHN treatment? I wonder if there is any in the former here.

 

[zippo1979]

Hi, care to elaborate more on the UHN treatment? I wonder if there is any in the former here.

Even if there is, nobody will say they are.
Even if someone says they are, who will believe?

This is the internet!

UHNW usually gets (not specific to SCB nor saying I am one):
1. better deposit rates
2. better loan rates
3. free concert tickets (more than normal)
4. free F1 tickets
5. better IPO allocation
6. assistance at overseas branches/offices
7. better product pricing
8. access to exclusive products
9. more senior RMs
10. more freebies like mooncakes, limo on top of normal priority banking.

Above list not exhaustive.

 

[maumu]

Even if there is, nobody will say they are.
Even if someone says they are, who will believe?

This is the internet!

UHNW usually gets (not specific to SCB nor saying I am one):
1. better deposit rates
2. better loan rates
3. free concert tickets (more than normal)
4. free F1 tickets
5. better IPO allocation
6. assistance at overseas branches/offices
7. better product pricing
8. access to exclusive products
9. more senior RMs
10. more freebies like mooncakes, limo on top of normal priority banking.

Above list not exhaustive.

actually, what do they get in return from individuals as their UHNW clients? is it that they pump in a lot of cash into their investment products and so they earn commission through that?

 

[DevilPlate]

actually, what do they get in return from individuals as their UHNW clients? is it that they pump in a lot of cash into their investment products and so they earn commission through that?

Yeah wealth management fees is lucrative.

Ever chat with private banker serving min 15M USD liquid investible networth, really goto carry balls, do bartering work and run errands for them haha

Hearsay property agents serving UHNW clients also the same….fetch them from airport, bring them sightseeing, pay for their luxury meals etc etc lol

 

[zeroX26]

actually, what do they get in return from individuals as their UHNW clients? is it that they pump in a lot of cash into their investment products and so they earn commission through that?

They can customize investment products like equity notes for the clients. The commission earned from these products are pretty high one.

 

[jaredho]

Is it too late to deposit fresh funds to the esaver account now considering promo ends 30th nov 2023? And how much min shd one deposit to this account?

 

[Imhthc]

Is it too late to deposit fresh funds to the esaver account now considering promo ends 30th nov 2023? And how much min shd one deposit to this account?

Depending on the option you have on hand. If there isn’t any better than 3.5% interest, why not take this up despite till 30th Nov? Better than nothing right?