Private banking FTW !

[P924]

I'm pretty sure they will let you join if you earn less than the requirement, as long as you pay the R299/mo fee...

 

[Re83L]

Had Private Banking with Standard Bank, It’s useless for the price.
Last year when we bought a house they just ran me through their normal crappy credit scoring system and offered me prime + 0.87%. They don't treat Private customers any different at all... that was quite ridiculous given my circumstances.

After that, I went through a bond originator who found ABSA to be @ prime – 0.75%

I then went to Investec who, without even looking at anything in too much detailed offered me prime -1%
Private Banking is only worth it if your situation is given specific attention, otherwise it's just a glorified courier system.

If I'm not with Investec, I won't have Private Banking at all.

 

[Re83L]

Anyone know what bank offers the lowest criteria for private banking?
I just want free international airport lounge access, to be honest.

It would be MUCH cheaper to just pay for access to the lounges. Or get Diner's Club.

 

[hellfire]

It would be MUCH cheaper to just pay for access to the lounges. Or get Diner's Club.

But you have to have a minimum spend on Diner's Club

 

[OrbitalDawn]

Anyone know what bank offers the lowest criteria for private banking?
I just want free international airport lounge access, to be honest.

How often do you fly that this is actually important?

 

[hellfire]

How often do you fly that this is actually important?

Hardly. It's about the principle

 

[OrbitalDawn]

Hardly. It's about the principle

 

[xrapidx]

Hardly. It's about the principle

:wtf:

Principle of access by Private Bank? Is this a status thing? No one knows how you got in after you're in.

 

[hellfire]

I like perks

 

[hellfire]

:wtf:

Principle of access by Private Bank? Is this a status thing? No one knows how you got in after you're in.

It's about getting in for free. That's what I'm after

 

[Colin62]

Hardly. It's about the principle

Principle or posing rights?

 

[P924]

It's about getting in for free. That's what I'm after

If you are paying R300/mo for something you are not using, it is hardly free...

 

[hellfire]

If you are paying R300/mo for something you are not using, it is hardly free...

Between credit card and cheque account, I'm already pretty close to that

 

[P924]

Between credit card and cheque account, I'm already pretty close to that

Then you are doing it wrong.

 

[Lukcydog]

If you are paying R300/mo for something you are not using, it is hardly free...

^this

What can ALL your banking needs possibly be? I don't see the point, I do everything via internet banking and MAYBE have to go to the bank once every six months or so. I'd rather pay myself the R200 difference and go for a nice dinner every two months, more than what the bank is going to do.

 

[hellfire]

Then you are doing it wrong.

That's a ridiculous statement. An average cheque account with a transactional package is over R100 per month. An average credit card is over R50 a month (Virgin excluded). If you don't have an 'average' account then it will be more

 

[HavocXphere]

Its hard to make a case for it on its own. Unless you're a serious baller you're never going to recoup the R300+ in saved fees & perks.

However it does mean I don't need to deal with the retailer banks...had enough of that. Plus one less thing to worry about in life. So it does kinda work out OK.

 

[P924]

That's a ridiculous statement. An average cheque account with a transactional package is over R100 per month. An average credit card is over R50 a month (Virgin excluded). If you don't have an 'average' account then it will be more

An "average" Standard ban elite account is R110 per month for cheque, credit card and garage card. Unless you visit the bank a lot, there is no benefit from paying more...

 

[Spizz]

FNB private client offer access to international lounges on a point scoring type system. You get so many entries depending on what level you are on. Access to domestic lounges within SA is 2 or maybe 4 a month iirc.

They're all schit anyway. Too crowded and full of grabbers loading their plates and getting something for free. I occasionally have a shower at Joburg slow lounge which is worth it if I've had a long flight and a bit of time before the CT flight, but really, I'd rather get a coffee at Costa than fight with the masses over a free sandwich.

EDIT: Sorry, the shower is in the SAA lounge. The slow lounge at Joburg is too packed to get any where near a toilet.

 

[yebocan]

...clearly cannot bring my Capitec Savings account to this fight....