Premium Accounts (PA) are high-end banking accounts that are provided for High Networth Individuals (HNIs). These accounts provide the top range of services that a bank has to offer. HNIs look not only for exclusive and priority banking services but they are also looking for ways to create and protect their wealth. Premium Accounts provide them with just that.
It is not correct to look at Premium Accounts from the perspective of a Savings Account or a Fixed Deposit or a Current Account or even an Investment Account. Premium Accounts combine features of all these products and then some. Premium Accounts can be better viewed as a portfolio of investment, banking, international and other lifestyle services.
Premium Accounts have higher, in fact much higher minimum requirements than ordinary accounts. The requirement for Premium Accounts is generally measured in terms of Assets Under Management (AUM). AUM refers to the total of balances held by the PA holder across all types of accounts held with that bank or financial institution. Although different banks have different minimum AUMs, an AUM of S$500,000 or even S$1million is pretty standard. Here is a brief look at the kinds of benefits offered by Premium Accounts:
A truly Premium Account service does not stop at home. It extends beyond boundaries and embraces a global outlook. A global Premium Account exposes a PA holder to the best of investment opportunities worldwide. And if your Premium Account service provider has a global network, you can be assured of the best of services and the privileges that you are accustomed to whenever you travel overseas. Plus the convenience of global funds transfer.
Negotiating the tricky international terrain of the financial landscape towards your chosen goal of growing your wealth or protecting your assests is best done through a well researched portfolio put together and monitored by a team of experts. Premium Account holders have access to the best research and the best financial and investment expertise that the service providing financial institution can put together.
A wide range of investment products
A Premium Account holder is exposed and has access to the best of investment products throughout the globe. This includes (but is not limited to) savings, credit, time deposit, mutual fund, equities, debt instruments, bonds, currency and derivative products. In addition to such standard products, Premium Account holders also have access to customized investment products and solutions that can cut across conventional product lines and sovereign boundaries.
Apart from such tailored conventional solutions, Islamic / Halal / Shariah-compliant Premium products can also be customized for customers who are inclined that way.
Lifestyle perks and privileges
Premier customers are a rare breed. To win their appreciation and thereby their long-term custom, service providers are offering them a range of cultural and lifestyle experiences. This includes exclusive gastronomic experiences, music concerts, theatre and entertainment experiences and a variety of treats and pamperings.