Standard Chartered Priority Banking vs. Private Banking: Key Differences

Priority Banking has a low barrier to entry in comparison to Private Banking. Private Banking caters to high-net-worth individuals (HNWIs) and requires a high-value asset on the other hand Standard Chartered Priority Banking is designed for people who can maintain a required minimum balance in their accounts. People with a Funds Under Management (FUM) of INR 50 Lakh or salary credit of INR 3 Lakh in their Standard Chartered account are eligible for Priority Banking. In contrast, Private Banking is for people who have assets of several millions managed by the bank.

Priority Banking offers a dedicated Relationship Manager, wealth management advice, international banking services, and lifestyle perks like lounge access and dining discounts. This facility is perfect for people who are looking for a convenient banking experience. But the private banking provides a team of specialists for wealth management access to exclusive investments like private equity, and personalized experiences such as global concierge services for more complex financial needs.

Priority Banking customers get standard chartered priority credit cards. This credit card gives various benefits such as travel rewards, concierge services, and international spending benefits. Additionally, customers also get access to standard chartered priority pass lounges which can make both international and domestic travel comfortable and convenient. This credit card is perfect to provide customers with a seamless airport experience and free lounge access in all major cities. On the other hand, Private Banking clients also receive elite credit cards with benefits such as personalized travel arrangements, dedicated lifestyle managers, and higher spending limits. They also offer invitations to high-profile events, complimentary hotel stays, and unique luxury experiences that are not available for the customers of priority banking.

Both Standard Chartered Priority Banking and standard chartered private banking come with a worldwide global network. Customers get free access to the airport lounge, seamless international banking, better forex rates, and other travel benefits. But Private Banking clients, enjoy a higher level of concierge services, VIP travel benefits, and dedicated banking assistance in multiple countries, and in some cases, they even provide private jet or yacht financing options too. Private banking clients also get opportunities to invest in offshore markets and enjoy exclusive asset management services.

The bank has dedicated support for Standard Chartered Priority Banking customers through standard chartered priority banking phone number and standard chartered priority banking customer care number. If provides them quick assistance for all banking needs. Customers can also contact them through the standard chartered priority banking helpline to get their issues resolved faster. On the other hand, Private Banking clients receive 24/7 premium customer support. They have direct access to senior bankers and specialists who can even resolve their complex problems in an instant. They also provide them assistance in legal and estate planning, tax structuring, and risk management.

Both Priority Banking and Private Banking offer digital banking solutions to their clients. Priority Banking customers can access premium digital banking services through mobile apps, online banking platforms, and dedicated digital investment tools. However, Private Banking clients receive more specifically tailored digital experience with AI-powered financial planning tools, and direct access to portfolio managers via secure communication channels.