Unlocking Financial Privileges with Priority Banking Services

In the Philippines, priority banking is offered to the most valued clients. Banks are constantly innovating their services to cater to the unique needs of mass affluent individuals, high-net-worth customers, and businesses.

For priority banking clients, these services go beyond transactions. This type of product offers a comprehensive approach to wealth management, lifestyle enhancements, and investment strategies. Providing clients with unparalleled convenience and a bank that can offer them customized solutions to meet their financial goals.

Interested in learning more about priority banking services? Let’s dive deeper into this and explore what it is, its benefits, and how to qualify for it.

What Does Priority Banking Mean?

As the words suggest, priority banking means that you get specialized banking services from your bank. This can mean that you get a specialized queue at the bank, exclusive investment opportunities, or preferential rates and fees.

No matter the benefits, priority banking promises maximum convenience to you. This is all a reward for your continued business and loyalty to your chosen financial institution.

What are Priority Banking Services?

Because each bank has its own priority banking product, the benefits of RCBC’s Hexagon Club may differ from other financial institutions.

It’s best if you check with your financial institution first what advantages you can expect from their priority banking services. Just to give you an idea, here are some of the most common services that banks offer:

Priority Access

You can experience expedited service at any branch of your financial institution. As a valued client, you get to enjoy shorter waiting times, dedicated service lines, and personalized assistance from banking staff.

Prompt issue resolution

For any banking concerns you may have, most banks have a hotline for priority banking clients. These hotlines aim to resolve any of your baking issues quickly and efficiently.

Higher Interest Rates

Priority banking clients are usually entitled to a savings account that earns at a higher interest rate. Aside from this, time deposit rates are also much higher. Allowing these clients to increase the rate at which their money grows.

Preferential rates

Whether you want to purchase a new home or you want to go abroad, as a priority banking client, you get lower interest rates on loans and better deals on foreign exchange rates.

Additionally, if you use your card abroad, the foreign exchange rates are usually lower, allowing you to have more value for your money.

Exclusive Debit and Credit Card

Most banks will offer their clients an exclusive credit and debit card that gives them access to premium perks and rewards. These cards are usually given for free and allow its users to accumulate rewards at a much faster rate.

Aside from these benefits, these cards can also give you access to exclusive airport lounges. For example, a benefit of the RCBC Hexagon Credit Card is that you get access to the airport lounge in NAIA terminals 2 and 3. With this credit card, you also gain access to over 1200 lounges worldwide.

Dedicated Relationship Manager

Get personalized guidance and support from a dedicated relationship manager. These relationship managers are there to help you reach your financial goals and grow your wealth. Each priority banking client will usually get assigned their own manager who can give them tailored advice for their goals.

First Dibs on Investments

Priority banking clients don’t just get exclusive access to perks, some financial institutions also offer early access to new investment opportunities. These allow you to get first dibs on the best investment products before they hit the market.

Early access to investments gives these clients the opportunity to maximize their investment potential.

Waived ATM Fees

Some banks will offer their priority banking clients a debit card that allows them to use any ATM in the world sans fees. That way, you won’t need to worry about the fees that come with withdrawing cash locally or internationally.

Although, this benefit may only be available for certain cards. So, make sure to check with your bank. For example, RCBC’s Hexagon Club Privilege Debit Card is given to each Hexagon Club Member to allow them access to this benefit.

Not only do they save more on fees, but they also get added security to each and every purchase.

Miscellaneous Features (insurance, lifestyle)

Depending on your lifestyle, you may need to ask your bank what additional features they offer. Some banks have a 24/7 lifestyle concierge readily available to help you, others have free life insurance plans, while others may offer exclusive travel privileges.

Experience Priority Banking in the Philippines

As we’ve mentioned, each bank has its own set of products and services ready to cater to their clients’ needs. So, each bank’s priority banking features vary. This is why you should take the time to do your research to find the right one for you.

If you’re looking for a bank that has an award-winning mass affluent banking program, why not check out the RCBC Hexagon Club?

RCBC has won many awards thanks to its innovative services, including the Best Priority Banking in the Philippines in 2022.