Standard Chartered Preferred Banking is a banking facility targeted to mass affluent market. Mass affluent refer to those with monthly income of more than RM6,000 or those with investible assets between RM72,000 and RM250,000. Currently, there are roughly two million mass affluent Malaysians.
Preferred Banking offers points for customers who use the Preferred Banking credit card, and rewards them with more points if they make online transactions, or have an investment, or a deposit account. They can redeem prizes with these points. Customers also will be served by relationship managers.
Below are the benefits of Standard Chartered Preferred Banking
- Received the Preferred World MasterCard Credit Card and Preferred M2 Account.
- Up to 2X Choice Points when you spend at least RM1,500 per month on your Preferred World MasterCard Credit Card.
- Enjoy the most rewarding experience in town with Choice Points on your entire relationship with us – whether it’s a mortgage, investment, deposit or even an online transaction.
- Unlimited 1% CashBack on all Preferred World MasterCard Debit Card spend.
- Dedicated 24-Hour Preferred Service Line at 1300 13 0011, and preferred queue at our branches.
- Redeem your Choice Points for exclusive rewards at preferred deals
- Exclusive invitations to private sale events and delicious dining deals at over 300 restaurants.
- Enjoy MasterCard Moments with complimentary Starwood Preferred Guest® Gold membership and Hertz #1 Club Gold membership
To qualify, you must meet any one of the following criteria:
- Maintain a minimum of RM72,000 in deposits and/or investments; or
- A minimum of RM400,000 in housing loan; or
- Earn a minimum annual income of RM72,000, take up the Preferred World MasterCard Credit Card and open a Preferred M2 Account.
Things you need to know before applying
- 2X Choice Points is only rewarded if you spend at least RM1,500 per month on your Preferred World MasterCard Credit Card.
- There is monthly fee of RM50 but it is waived for the first year. The fees for subsequent years are waived as long you maintain deposits and/or investments of at least RM72,000 or housing loan quantum of at least RM400,000.
- 1% CashBack on retail transactions on Preferred World MasterCard Debit Card is rewarded only if you maintain an average daily balance of RM6,000 in your Preferred M2 Account.
If you apply and make the first spend before 31st Match 2011, you will be rewarded with RM200 cash rebate.
For further information kindly refer to the following;
Standard Chartered Preferred Banking webpage.
Preferred Banking FAQs.
Preferred Banking Terms and Conditions
Preferred Banking Application Form
preferred account does not sound very attracting though..