Both priority and private banking offer personalized services, but they cater to different wealth segments. Understanding the distinctions can help you choose the right fit.
Priority Banking
- Entry-level personalized service
- Minimum assets: ~SGD 200,000–350,000
- Faster service, some investment tools
- Access to relationship managers
Private Banking
- For HNWIs (SGD 1 million+ investable assets)
- Full suite of investment products
- Trust & estate planning
- Exclusive access to IPOs, hedge funds, private equity
Which Should You Choose?
- If you're still growing your portfolio: Priority
- If you require custom structuring and family wealth solutions: Private
FAQ:
Q1: Can I move from priority to private banking?
A: Yes. Many banks offer a seamless upgrade when asset thresholds are met.
Q2: Are the fees higher in private banking?
A: Services are more complex, but fees are often performance-based or asset-tiered.
User Comments:
“Priority banking gave me a taste of personalized service before I moved up.” — Kenneth C.
“Private banking gave me access to structures I didn’t know existed.” — Grace T.
Editor’s Note:
Private and priority banking represent stages in your financial journey. Don’t rush—graduate with strategy.
Tags: private-vs-priority, bank-tier-comparison, personalized-banking, client-segmentation
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About the Author
Marks Toms – Editor-in-Chief
Marks oversees editorial policy, compliance, and fact-checking at bankaccountsopen.
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