STD Bank Prestige Banking

[Drifter]

So I get a call yesterday from my branch saying my account has been flagged for an upgrade to Prestige Banking package.

Is it worth it at R169pm service fee?

 

[syntax]

The benefits are garbage.
However, after moving to FNB, I can tell you that standard banks "prestige" call centre and email response centre is miles ahead.
Not sure if that is true across the board, but I find the fnb "personal" bankers and call centre to be sub standard.

 

[bromster]

They give you a credit card and a diners club card for free which makes it worth it if you make use of it. The prestige centre is really great. Diners club needs a 4k spend p/m to qualify for airport lounge access

 

[reactor_sa]

I'm still with elite, I don't see the benefits worth another R69.

 

[HavocXphere]

I'd suggest that if your current situation works then stay put.

I'm paying way more...but only because the bank I was with pissed me of & after they closed the door in my face (literally & before official closing time) I decided fck this I'll find a bank that delivers results. It costs me a bit, but its one of those cases were I decided the optimal solution is to throw money at the problem to make it go away.

If you're not in a situation like that then I'd recommend saving the money and buying a loved one something nice instead.

 

[Aharon]

The 'platinum' or prestige call centers are always better than the regular banking ones I think - well certainly in my experience.

I must say I enjoy the fnb platinum call centre. Ask what the benefits are over what you have and then decide if it will financially work for you!

 

[ld13]

Why do you guys need to phone the bank so much?

 

[fish_man]

Why do you guys need to phone the bank so much?

they have more money then us , i also have no need to phone the bank

 

[ld13]

they have more money then us , i also have no need to phone the bank

True that

 

[HavocXphere]

Why do you guys need to phone the bank so much?

Strategy mainly. e.g. My banker shares what strategies others are following (in very broad & generic terms). It's helpful to see what others are doing. How they are moving their money around, timing of transactions etc.

To answer your Q: You need to keep in mind that as the quality of the call center increases, so do the calls. If you know you're going to be speaking to a competent person in <10s then calling is suddenly a mighty attractive option to fix all kinds of things.

edit: well thats awkward after fishman's comment. To correct the situation...10 interweb points says fishman and ld13 earns more than I do.

 

[ld13]

edit: well thats awkward after fishman's comment. To correct the situation...10 interweb points says fishman and ld13 earns more than I do.

Excuse me dear sir, but I only accept the internets as legal tender:

Strategy mainly. e.g. My banker shares what strategies others are following (in very broad & generic terms). It's helpful to see what others are doing. How they are moving their money around, timing of transactions etc.
To answer your Q: You need to keep in mind that as the quality of the call center increases, so do the calls. If you know you're going to be speaking to a competent person in <10s then calling is suddenly a mighty attractive option to fix all kinds of things.

Fair enough. But I guess you have a lot more liquid investments lying around than I do then as that would be the main reason for me to be in semi-constant communication with someone at the bank...

 

[HavocXphere]

Excuse me dear sir, but I only accept the internets as legal tender:

I only deal in interweb points, not internets so if the exchange rate is not 1:1 then we will have to renegotiate.

But I guess you have a lot more liquid investments lying around than I do then as that would be the main reason for me to be in semi-constant communication with someone at the bank...

I probably don't have more liquid investments lying around than you - hell I decide specifically *against* that about a year ago.

 

[Drifter]

I like the free will option, the R500K net assets waiver and the fact that things like car/home finance etc are taken care of by your prestige banker. You only send them the offer to purchase, and they do the rest. Discounted interest rates are also a nice option, plus free internet banking and transactions.

 

[Greg C]

I like the free will option, the R500K net assets waiver and the fact that things like car/home finance etc are taken care of by your prestige banker. You only send them the offer to purchase, and they do the rest. Discounted interest rates are also a nice option, plus free internet banking and transactions.

This man hit it spot on. I work for a bank (name shall remain unmentioned) but the platinum bankers are alot more experienced and as stated deal with any Home loans and Assets vehicle finance you require.The interest rate is not preferential at all but merely a bigger attempt is made to get you a better interest rate as you are in a sense " a more valued client".

If you have no intentions of a car or home in the near future the benefits are not worth the extra R69 but if you are let me just say that you get a tremendous increase in value for that R69 when and if you do.

Diners club is a snobbish thing and represents management or employees that travel alot.If you dont travel more than 6 times per year there is NO benefit to a diners club either.

Ensure that if you do select this upgrade that you ask about the flyer miles and that you use your credit card for the purchases and pay it off using normal debit card via internet transfer from debit to credit. You get the benefit of the miles without the interest payment if you pay before the 22nd of every month.

Ie if you want more flyers,buy with credit card,get home pay it off like a normal internet transfer from debit to credit(remember unlimited internet transactions,so costs you nothing).

Hope this helped