Need Priority Banking? | Benefits of Priority Banking | Banks in Singapore

Bank Accounts | Priority Banking | Singapore

Priority Customer for your Bank?

You are rich! Want to look rich? Want for feel rich? There is no bigger high than having a tag of ‘Priority Customer’ from your bank in Singapore. It automatically raises your status amidst your peers, who look up to you in awe. Besides, helping in elevating your perception, if also provides you access certain benefits which are out of bounds for ‘Common Customer’.

These benefits would range from avoiding long queues at the bank and move straight to the counter, higher interest rates, better foreign exchange rates or consultation with a relationship manager or even fee waiver. All this and more make your banking experience valuable.

So as a wealthy Singaporean, wouldn’t you like to have this unique experience of being ‘priority customer’?  Banks look for the ones who are having huge sums for investment and transactions. Banks treat them specially and attend to them on priority – to sum it up provide priority banking experience.

Let’s list out what are these benefits:

Priority queuing

As a priority customer, you need not stand in queue which will save you precious few hours as you are able to finish your work at bank in just few minutes.

Higher interest rates

You have access to the most attractive rates as a priority customer.

Better foreign exchange rates

If you are the one who love to travel or required to travel for business, then exchanging currency at better rates would work well for you. Priority banking takes care of that also. Not only this, it makes your shopping abroad also attractive.

Relationship manager

Probably this is one of the best perks as you have a dedicated manager to help you with all the transactions and activities at your bank. RM’s also guide you on investing and expending your money, which takes away big burden on your head.

Fee Waiver There is no banking or service fee for priority customers for most Singapore banks.

This way we see that you enjoy many perks by being ‘Priority Customer’ for ‘Priority Banking’ in Singapore!

Some of the ‘Priority Banking’ Banks in Singapore

DBS Treasures

You feel really special with DBS Treasures as they have opened 11 fancy DBS Treasures and 5 DBS Treasures ATM lobbies. Not only this, it also has Exclusive Safekeeping Centre, open from 8:30 am to 10 pm, providing private parking lots and is equipped with lounge for relaxation.

UOB Privilege Banking

This is one of the most difficult ones to acquire for, with its minimum asset requirement of $350,000. The main attraction here being preferential interest rates they offer for deposits in UOB Privilege Account.

OCBC Premier

Their perks are quite generous like if you invest a lump sum of at least $200,000 in unit trusts, they give you an $800 reward and $200 worth of shopping vouchers. Buying Single Premium insurance of $100,000 will get you $200 as well as shopping vouchers of $600. Besides, Other than 1.5% interest on select foreign currency deposits and priority queues at select branches.

Citi Priority

Citibank has two priority banking programs:

Citi Priority, which has a minimum requirement of $70,000, offers $1,400 when you sign up. To qualify for the full amount, you need to deposit $100,000 worth of fresh funds, buy $100,000 in unit trusts or life insurance in the first 6 months of membership. You also need to credit your salary, GIRO personal income tax or telco bill monthly, in addition to maintaining a balance of at least $70,000. All this & more and you qualify for a welcome gift.

Citigold has higher wealth requirements than Citi Priority (with a $250,000 requirement) but is also more generous in terms of perks. Say their welcome gift is either $6,300 cash or a pair of business class return tickets to any exotic location. But to get the maximum cash amount (or air tickets), you need to deposit $500,000 in fresh funds, purchase at least $250,000 worth of unit trusts or life insurance in the first 6 months, credit your salary, GIRO personal income tax or telco bill monthly with Citibank while maintaining a balance of at least $250,000 and maintain a $150,000 balance in your Citi MaxiGain account.

Maybank Premier Wealth

Maybank Premier Wealth members enjoy priority services at Maybank branches in Singapore and Malaysia, as well as Bank International Indonesia branches in Indonesia. You get access to the three Premier Centres located at Maybank Tower, Holland Village and Marine Parade. Besides your Maybank Premier Wealth Platinum Debit Card, which lets you withdraw cash from Maybank ATMs in Malaysia, Brunei, the Philippines, Indonesia and Cambodia without any service charge. Besides, you are also eligible for the Maybank Premier Wealth World Mastercard.

HSBC Premier Bank Account

To become a HSBC Premier customer, you need to have assets of at least $200,000 with them, credit a monthly salary of at least $15,000 or take up a property loan of at least $800,000. If you satisfy the income requirements but don’t want to deposit such a big lump sum with them, this can be a good option.

The priority banking program has two tiers, Premier and Jade. Jade is an invite-only program targeted at even richer people that promises even more exclusive perks. Those sign up on their own will be classified as Premier.


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