Best Bank For Wealthy Individuals – Built on a long history and proven track record, OCBC Capital Bank is a secure, reliable and balanced wealth management platform that meets the needs of the wealthy. Find out if this individual approach is right for your investment goals and strategy. As one of the largest banks in Singapore, OCBC has the advantage of solid foundations and a proven reputation. Born out of the Great Depression of 1932 out of the merger of three smaller banks, OCBC has since built a number of successful financial services and undoubtedly won a few victories. Nowhere is it easier to see this well-deserved confidence than in a quiet, easy-going head banking department, usually felt only by a supplier whose reputation for excellence is assured. This is probably because OCBC Capital Bank knows that it can offer reliable advice on the holy four of banking services, wealth management, financial advice and lifestyle preferences, the needs of the wealthy. In this article, we begin with an in-depth study of OCBC Bank. Let’s dive in! Pros and Cons of OCBC Bank Why Choose OCBC Bank? Who is OCBC Bank best suited for? Fees and Charges What are the eligibility criteria for OCBC Central Bank? How can you apply? Ready to fix it? Find out how to make your money work harder and smarter. You can enjoy a range of discounts with your own dedicated relationship manager and Advantage Bank. Compare your options. Advantages of OCBC Bank This is perhaps a testament to the long history and solid foundation of OCBC, one of the Big 3 in Singapore’s competitive banking industry. As such, prime bank members should find good reason to feel comfortable protecting and building their wealth under the OCBC roof. Indeed, you won’t get most of your financial needs and wants through one channel unless you need them all, which is one of the biggest draws here, especially if you don’t want to run between multiple banks and institutions for the banking services you require. . To be honest, there are very few critics of OCBC Bank. The only problem may be that the transaction costs you will face are quite high, especially compared to other popular online brokers. Again, this is an issue for legacy banks and not unique to each PM bank. Since we’re digging, let’s point out another low point. Earlier we said that OCBC Bank can meet most of your financial needs. Well, the important thing about this is that some investors may not like to commit all their resources to one party because there is always the risk of that party making a critical mistake or missing a critical opportunity. However, with OCBC’s proven track record, this is 1) highly unlikely, and 2) if you are not comfortable putting all your eggs in one basket, so to speak, you can always split your investment portfolio across multiple institutions if you can afford it. That is. Start managing and saving money like money with weekly financial collections! Every week, we share easy money-saving tips, the latest financial trends, and the hottest promotions straight to your inbox. This is one inbox you don’t want to miss. Sign up today to receive our free investment guide exclusively for new subscribers! Subscribe today Why choose OCBC Central Bank? #1: Comprehensive Banking Solutions Suite OCBC has one of the most advanced banking solutions in the market, which means you’re more likely to find the services you need. There are four main areas: everyday banking, retirement and estate planning, and investments and financing, each with different solutions. One area where it shines is retirement and legacy planning as the bank offers structured whole life and comprehensive life policies to meet the needs of high net worth individuals like you. A portfolio of noteworthy portfolios consisting of unit trusts, equities, treasury products and precious metals provides multiple options for balanced and diversified portfolio investments under one roof. #2: Premium credit card benefits. One, you get the OCBC Premier Visa unlimited credit card completely free. Yes, there is no annual fee to pay for this card. The OCBC Premier Visa Unlimited Credit Card is intended for general spending and earns you OCBC$ when you spend. You can earn 16 OCBC for every 5 S$16 spent locally and 28 OCBC for every 5 S$28 spent abroad. The OCBC$ you collect is then redeemed for various rewards such as cash credits and air travel. If you prefer more travel-oriented credit card offerings, opt for your OCBC Premier VOYAGE Credit Card and you’ll find airline deals in your business. You’ll earn 1.6 miles per $1 spent locally and 2.3 miles per $1 spent on foreign transactions with this card. You can choose from two annual fee packages with this card: $488 with 158 miles, or $3,210 with 150,000 miles. Needless to say, both of these credit cards are premium lifestyle cards that come with many other benefits and perks that will help you improve your lifestyle. #3: Relatively low barrier to entry Another reason to choose OCBC Bank is the program’s low barrier to entry. The minimum eligibility requirement is set at S$200,000, which is on the lower side (most other banks require S$250,000). What this means is that you can enjoy the benefits and advantages of private banking with OCBC earlier than with other banks. Who is OCBC Bank best suited for? OCBC Capital Bank is a good choice for wealthy people with long-term financial plans who are looking for a stable, reliable partner to help them achieve their goals. It has a relatively low barrier to entry and offers a complete suite of solutions around services, consulting, self-service tools and lifestyle benefits. This is a winning combination for investors who prefer an all-in-one platform. Fees and Charges Take a look at OCBC Central Bank’s Fees and Charges table and you’ll find something pretty cool. Most bank charges and service charges are waived or at least discounted. That means there aren’t many fees or expenses you need to track, although we think that may change once you start engaging in certain investments or business activities. As an example, here are the fees for unit trust services. Pre-sale Fee: Up to 5% of total investment amount: Up to 1% of total transaction amount We recommend that you carefully review the Fees and Charges table carefully for the services we offer. As a Prime Bank customer yourself, familiarize yourself with the applicable fees and charges. What are the eligibility criteria for OCBC Bank? To qualify for OCBC Prime Bank, you must first deposit at least S$200,000 in fresh funds. Also, you can qualify if you invest the same amount in a new investment with the bank. For new investment deposits of $1 million, you will be eligible to join the OCBC Prime Private Client Program and become an Accredited Investor. How can you apply? Once you meet the eligibility criteria (see above), you can start applying to be contacted by OCBC. Go to this page and submit the online form by filling the relevant details. After that, sit back and wait for OCBC to respond. Compare the best savings accounts Read below: OCBC FRANK Revamp: 5 reasons to sign up for this newly launched card OCBC Titan Rewards Card: The best credit card promotions in your wallet and the best OCBC credit card deals in Singapore. Credit Card Deals You Need to Know Now: December 2021
A former financial planner with an interest in what makes people tick, Alvin’s mission is to help readers understand the psychology of money. He also continues to search for ways to optimize happiness and joy in his life.
Best Bank For Wealthy Individuals
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