DBS Treasures Singapore – Benefits & Preferential Rates (2019)
DBS Treasures is considered one of the more prestigious priority banking programmes in Singapore, and being from the #1 bank here, it’s also one of the most popular.
So how can you join DBS Treasures and what perks do you get?
What is DBS Treasures?
DBS Treasures is DBS’s priority banking programme. As a priority banking customer, you will be treated like a VIP. Instead of queuing up with the regular folks at DBS branches, you get to use luxurious DBS Treasures Centres.
|Minimum assets required||$350,000|
|Travel benefits||3.2 miles for every $1 spent at selected luxury boutiques (min of $300 in single receipt), 2.4 miles for overseas spend and 1.2 miles for local spend with DBS Treasures Black Elite Card |
20% more Krisflyer miles and complimentary Krisflyer Gold Lounge access (until 1 Apr 2019)
|Preferential rates||Currency exchange and home loans|
DBS Treasures Banking credit cards
As a DBS Treasures member, you will be entitled to two cards: the DBS Treasures Visa Debit Card and the DBS Treasures Black Elite Card.
Usually, debit cards are good only for withdrawing cash. But that’s not the case with the DBS Treasures debit card. It gives you 5% cashback when you tap using Visa Contactless (or apps like Apple Pay) so long as you spend at least $400 in a month and withdraw not more than $400. 5% is very generous, so if you use contactless payments often, consider using this card.
The DBS Treasures Black Elite Card functions as an air miles card, earning you miles at the following rates:
- 3.2 miles for every $1 spent at selected luxury boutiques (min of $300 in single receipt)
- 2.4 miles for every $1 of overseas spending
- 1.2 miles for every $1 of local spending
The miles accrual rate is not bad, but there are certainly other cards out there that can do better.
Minimum AUM to join DBS Treasures
To join DBS Treasures, you simply (or not so simply) need to place $350,000 in assets under management (AUM), which can be either deposits or investments with DBS.
You also need to spend at least $20,000 a year on your DBS and POSB cards, otherwise your privileges might not get renewed.
DBS Treasures travel benefits
Other than the frequent flyer miles accrual courtesy of the DBS Treasures Black Elite Card, there are a few other travel perks.
Until 1 April 2019, customers are entitled to 20% bonus KrisFlyer miles and complimentary KrisFlyer Gold Lounge Access. Unfortunately, DBS has announced that these perks will be discontinued after 1 April.
Other perks include discounted worldwide limousine services, discounts on Windstar Cruises, guaranteed online price matching when you book stays at certain luxury hotels with DBS Travel Concierge, some travel benefits at Starwood Hotels and The Ritz-Carlton Langkawi and medical travel assistance when you travel.
DBS Treasures preferential rates
DBS Treasures clients enjoy preferential rates on foreign exchange and home loans. So if you travel often are about to buy a home or refinance soon, it might be worthwhile becoming a Treasures customer.
You also get fee waivers on telegraphic transfers and withdrawals from Visa/PLUS ATMs worldwide.
Other DBS Treasures benefits
As a priority banking customer, you get to use DBS Treasures Centres instead of queuing up at often crowded POSB/DBS branches.
You can also use the DBS Treasures Exclusive Safekeeping Centre to store your valuables. It is much more luxurious than the usual safe deposit boxes and has private parking lots and a lounge area with free refreshments.
DBS is also offering a welcome gift of up to $5,600 to successful new applicants.
DBS private client benefits
DBS Treasures actually has three tiers: regular Treasures priority banking clients, private clients and private bank clients.
Private clients must have investible assets of at least $1.5 million, while private bank customers must have $5 million.
Private clients (those who have $1.5 million and above) are entitled to all the perks regular DBS Treasury customers get, in addition to better travel perks and more extensive wealth management support.
Right now, for private clients those who join before 31 Mar 2019, DBS Treasures is offering 0% brokerage charge for first 3 trades as well as a more attractive welcome gift of up to $10,500 (compared to $5,600 for regular Treasures customers).
Private Clients also get to use the DBS Asia Treasures Lounges at Changi airport Terminals 2 and 3, enjoy priority check-in services at SATS Premier Check-in Lounges and have access to a 24-hour wealth management programme.
DBS Treasures outlets
There are 10 DBS Treasures Centres in Singapore where you can meet with your relationship manager in comfort and privacy. Priority banking customers also enjoy priority banking at most DBS branches.
Check out full addresses of DBS Treasures Centres.
Do you have any experience with DBS Treasures? Share your reviews in the comments!