A lot of people are unsure about the idea of banking online instead of going to their bank branch, but there are some benefits to priority banking services. Banking online is more convenient for the individual, and there are fewer queues to deal with at traditional banking institutions. Priority banking service providers are designed to reduce wait times, reduce confusion, and increase convenience. These services keep people from spending hours waiting in lines for their turn in a queue. Here are reasons why you should use priority banking services in Singapore.
Better interest rate
With priority banking, you will get a higher interest rate on your deposit account as compared to a regular savings account. For instance, DBS Treasures offers up to 0.8% p.a. on your first $50,000 deposited while a regular savings account only offers 0.05% p.a. This is a significant difference and over time, it can add up to a lot of extra money in your pocket.
Higher limit on transactions
If you frequently make large transactions, priority banking can be very beneficial for you. With a higher limit on transactions, you are more likely to make use of these funds without worrying about interest rates. Priority banking in Singapore also offers a higher limit on ATM withdrawals. With this, you can easily get cash when you need it without having to worry about high-interest rates.
Access to exclusive products and services
Priority banking gives you access to exclusive products and services that are not available to the general public. For instance, you may be able to get higher interest rates on your deposits or access to specialized investment products. When it comes to loans, you may be able to get more favorable terms and conditions since banks view you as a valuable customer.
When you opt for priority banking, you will be assigned a dedicated relationship manager who will provide you with customized financial solutions based on your unique needs and goals. This is in contrast to regular banking where you will be dealing with different bank staff each time you visit the branch or call the hotline.
Exclusive privileges and rewards
As a priority banking customer, you will enjoy exclusive privileges and rewards that are not available to regular customers. For instance, you may be able to get invites to VIP events or special discounts at certain merchants. You may also be able to earn more rewards points when you use your credit card for purchases.
Enhanced security features
If you are worried about the security of your money, opt for priority banking. With enhanced security features, you can be assured that your money is well-protected. In addition, you can also enjoy the convenience of online banking and mobile banking services. With these features, you can easily monitor your account activity and transactions.
Priority banking is a great way to improve your banking experience in Singapore. With better interest rates, higher transaction limits, and exclusive privileges, it is easy to see why this type of banking is becoming so popular. If you are looking for a better banking experience, consider signing up for priority banking services.