View Full Version : Priority banking - which bank is good?
Which bank has a good program?
Do they pester you to invest in this and that?
Priority counter at branch and on phone - I hardly go to the bank but I hate queuing when I do have to go. I also hate being kept on hold when I call the hotline.
Investment advice - I don't want it.
Property loans - Do they offer better rates or something?
Lifestyle benefits - Spa/club/gym access?
Access to funds from overseas - I want this. Currently using citibank cos no extra charge for cash withdrawal at their ATMs.
starrynight
30-06-12, 17:16
I have mass affluent banking accounts (i.e. the $200k type) with Citi, HSBC, DBS and UOB.
Personally, I think Citi has the best look and feel for their Citigold. Also, if you work overseas, you can link your Citi accounts in the different countries to transfer funds between them for free.
HSBC tends to offer marginally better rates (including for deposits) for their Premier customers.
DBS is good if you invest in IPOs, cos they are one of the bigger IPO managers.
I agree with you that the most important thing is that the bankers leave you alone! That's what are nice about my bankers. PM me if you want their contacts. Lemme earn some referral fees :D
Which bank has a good program?
Do they pester you to invest in this and that?
Priority counter at branch and on phone - I hardly go to the bank but I hate queuing when I do have to go. I also hate being kept on hold when I call the hotline.
Investment advice - I don't want it.
Property loans - Do they offer better rates or something?
Lifestyle benefits - Spa/club/gym access?
Access to funds from overseas - I want this. Currently using citibank cos no extra charge for cash withdrawal at their ATMs.
I prefer SCB.
Citi can be aggressive.
Thanks,
Richard
Anything special that you got from SCB or Citi?
I like SCB cos they have more branches. Service at the branch seems better than most.
Citi seems to have more global ATM's? But the service staff don't seem knowledgeable... I'm the one who has to tell them that targobank is part of citibank and even with that information they don't have any info about it...
HSBC - don't have much interaction with them. But I know that overseas cash withdrawal is not cheap!
UOB and DBS - the "normal" service is usually terrible.
OCBC service is good but no overseas ATM.
If you want to talk to more experienced staff, try SCB Battery Road.
Those senior Relationship Managers will require S$500k Asset Under Management. (Me, not qualify. So only used them ad hoc twice, but very impressed.)
The branch pretty ladies tend to have less product knowledge.
SCB used to have a very good speaker flying from Hong Kong to Singapore once ia quarter, but the gentleman has resigned.
Thanks,
Richard
PS. I lost a lot of money selling FX Options (packaged as Dual Currency Savings) to Citi during 2008. So still don't like them - almost closed account.
I only plan to have savings/current account and place fixed deposit. I don't like people "managing" my money. I don't like them trying to provide any product knowledge or market analysis. I don't even want to hear it! They are only right 50% of the time :tongue3: Might as well toss a coin.
If I want to buy stocks, submit the transaction online myself. Why pay the banker more to do the same thing and have to listen to looong story from them. I don't buy unit trust or any managed product. Whether we make or lose money, the fund managers and bankers still make $. So where's the incentive for them to really bother?:hell-hath-no-fury:
I'm not the biggest fan of Citi either. After what I know how they treat their employees.
Well, it depends on what sort of banking services u wish to have:
1. Wide ATM network : DBS
2. Long Q : DBS
3. Good customers' lounge : UOB (privileged customers)
4. Short Q : SCB, Maybank (Maybank got seats)
5. Good events for privleged banking / private banking : SCB
6. Good and efficient services : private banking Deutsche. One thing good, they dun tier the customers
7. personalised services : SCB
8. IPO and bond market offer : DBS
no knowledge in OCBC
If u hv big monies, then u would get good services.
My principal banker : SCB, offers me very good rates and services.
but putting in some money with DB to have a check and balance on the rates offered by SCB.
Prefer SCB. Try going to the one at 1 Battery road.
Prefer SCB. Try going to the one at 1 Battery road.
what is it so good there?
Service and treatment for Priority /Private banking customers are the best here after trying a few branches. But never put money in one bank. Citi is not bad too. Anz not is very good even the one at raffles place. HSBC is not s bad too.
what is it so good there?
Service and treatment for Priority /Private banking customers are the best here after trying a few branches. But never put money in one bank. Citi is not bad too. Anz not is very good even the one at raffles place. HSBC is not s bad too.
LOL, u have the time to try out branches...
me...just use the one at MP
For private banking business, they come to my place. as I serve them lunch..only once, went to their MFC office
PB also come to my place in the night. Raffles place is large compares to MP and have special area for pb customers.
LOL, u have the time to try out branches...
me...just use the one at MP
For private banking business, they come to my place....only once, went to their MFC office
Dun like Citi. Can be aggressive. Used to have chiobus now even that is gone. And their attitude very annoying. Think they so atas.
DBS most humble one. And most practical: short queue for you. And any new issue of bond, shares, rights etc DBS almost always got a cut.
HSBC very disorganized. but its international network is good. Funds transfer is free.
UOB, what can I say.. More chiobus now.. Trying to go the Citi way of atas...dun like it.
SCB is just starting. A lot of products dun have.
Citi hsbc scb give slightly better rates for mortgage , local banks no diff.
Financial products, Citi has lots of exotics. If this is your kind of thing keep an account with them. For real daily banking needs, DBS no brainer.
Serious investment needs, none of the above. You have to find a reliable banker in a big bank who is willing to work with you.
What do you use your RM for? I always prefer to stick to one bank so I dont get to make comparisons. I believe there are things, services, programs, privileges I didn't ask them for.
Ps. I'm using SCB.
UOB is the best. Free makan & wine at mbfc, free use of yacht, even their credit card made of metal and the best frequent flyer conversion for a visa. Can also trade anything under the sun with an isin code.
stanchart a little limited, not there yet. ocbc worst, still fledging.
Not really lei. I was told UOB cannot allow us to trade Germany & France listed shares (for example), cannot trade US & Europe futures & commodities (eg FDX, S&P, DJI, FTE futures etc; which serious traders really trade SIMEX futures? :beats-me-man:), cannot trade US bonds online (for example). :doh:
UOB is the best. Free makan & wine at mbfc, free use of yacht, even their credit card made of metal and the best frequent flyer conversion for a visa. Can also trade anything under the sun with an isin code.
stanchart a little limited, not there yet. ocbc worst, still fledging.
What's the UOB conversion rate to air miles?
I prefer banker to leave me alone but answer my questions correctly, completely and promptly.
DBS - ATM Q is super long!!!
DBS doesn't even inform me when there are changes in processing time, then deduct $ from my account! When I asked them to waive the fee the customer service said, "But that's how we generate revenue for this product." In the end they waived the fee but I spent time getting the waiver. Most of the staff there have no brains (no-brainer)!
OCBC -
I only have $1000 in OCBC account but they kept calling me to collect my free gift :o. Then they gave me the wrong gift. Then they called me to collect again but I can keep both :D. They care enough to answer and evaluate my home loan queries although they don't give IPA.
Paiseh to go into their lounges, though I have access for ocbc & UOB, never give them any business beyond the usual deposits.... They leave me alone and vice versa. Only advantage is priority queue in the rare occasions I go to a branch.
Maybe should be more thick skinned a go drink coffee there....:D
Didn't get good housing loan rates from them either, ended up going to a foreign bank....:tongue3:
Maybe you are not keen on that type of coffee.
I prefer kopitiam coffee :)
Foreign bank don't want my business for housing loan cos I loaned too little. :tongue3:
Other than a different hotline and different Q at the bank, I don't know which of the benefits I would really use.
uob is 1.6miles per $ spent. UNI$8 per $10 spent.
UOB can trade anything that has an ISIN ? U sure ? For PB class for one you cannot trade perp bonds in EUR. Compliance simply says no.
DBS branch is every where. Having a PB with DBS is really useful if u ever go to any branch. Foreign banks cannot be found outside of CBD and some key areas.
The truth is PB has no real benefits other than benefiting the bank as they know you are wealthy so a potential customer they can sell to. For actual practical things I use DBS simply because it's always available somewhere. For example there was one time I forgot to bank in a check ( pass the 3:30 deadline), and that cheque was really important. I walked to a small DBS outlet at 4 and ask them to process my cheque anyway. They did.
For SCB, they give credit card points for loans and all transactions
For SCB, they give credit card points for loans and all transactions
But really, points, miles etc are being inflated every year, to such extent I no longer count them.
Btw evergreen u can keep a PB with most of thm. No need to choose one. HSBC some time did some strange HK offerings in SG where no one else carries. ( e.g. A HK bank's bond issue in SGD ! Only in HSBC)
But really, points, miles etc are being inflated every year, to such extent I no longer count them.
)
I convert them into cash and offset my payments.
Not bad, couples of hundred dollars a few months
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