SCB Priority Banking enhancements

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  1. #1

    Join Date
    Oct 2006
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    Hong Kong
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    SCB Priority Banking enhancements

    Seems the Priority Pass benefit is changing from unlimited to 8 visits a year. I don't fly as much so its not really going to affect me too much.

    However in general I'm seeing less and less benefit to SCB these days. I'm on a grandfathered Priority Banking relationship balance. In reality Priority Banking at SCB doesn't offer that much.

    Was thinking of Citi Gold or DBS Treasures as an alternative.

    Any thoughts, or in reality they are much the same and a bank is a bank?


  2. #2

    Join Date
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    what do you need priority banking for when its the most expensive tier of banking stuff down anyone's throat..
    are there any real economical benefit to these premium tier banking outside of the feel good factor ?

    if you don't use the fancy stuffs, and there are different kinds of cheaper options out there, why bother..
    I am also grandfathered from old DBS days.. i think their retail tier and treasures (not the PB level treasures) offers almost same things and you can do most stuffs online these days.


  3. #3

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    Quote Originally Posted by freeier:
    what do you need priority banking for when its the most expensive tier of banking stuff down anyone's throat..
    are there any real economical benefit to these premium tier banking outside of the feel good factor ?

    if you don't use the fancy stuffs, and there are different kinds of cheaper options out there, why bother..
    I am also grandfathered from old DBS days.. i think their retail tier and treasures (not the PB level treasures) offers almost same things and you can do most stuffs online these days.
    Yeah, I get your point. With some of the higher tier banking you do get some useful benefits like free international transfers, access to additional products (for example with DBS access to worldwide share trading). But in general your sentiment is correct.

  4. #4

    Join Date
    Feb 2009
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    Yeah I got an email saying the unlimited worldwide lounge is changing to 8 times per year. I also don't fly that much so not going to affect me too much. But I do sometimes pop in there for an apple or a couple of bottles of water etc and now i have to bloody keep count how many times I have been during the year because if I accidentally go 9 times they are not going to deny me entry but there will just be a nice $210 charge on my card later. Expensive apple.

    I have the priority not really through any conscious choice, but was given it when I bought my apartment and got a mortgage through SCB 10 years ago. I wouldn't pay for it or actively chase it. But it does have some benefits. One is they give me a few thousand Asia miles per month based on my savings/investments/mortage balance etc, another is I have a dedicated guy I can call that gives me 0.003 spread on FX exchange instead of 0.005 that they offer through the FX app on my phone, another is I can save $4 every time I go to starbucks (free upgrades). Not much else I use I think. Oh wait, every time I buy managed funds the front load fee I negotiated down to 1% instead of 3.5% through their online banking platform. Not sure this last one is a priority thing or just something I happened to get after pestering them a few times.


  5. #5

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    @Deleted

    - I also noticed they have changed the terms of the cheap car transfer. Now you don't need to have booked a travel ticket through the credit card, which is good. However the availability still remains limited.

    - Aware that Citi gold is higher. As I'm grandfathered to SCB I only need to maintain HKD500k + pay my salary in. Mortgage is going to go to HSBC shortly, so would be moving over long term stock holdings.


  6. #6

    Join Date
    Aug 2006
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    6,955

    Priority Pass no longer valid at HKIA lounges (apparently since July this year).