In addition to the standard service, banks actively offer VIP services. This segment is one of the most profitable, but the principles of work differ from the standard ones. The best service, the most qualified staff, comfortable atmosphere. What does premium banking include and how much does it cost the customer?
What is VIP?
Premium service means an individual approach to the client, providing increased comfort in communication, access to unique products. In this case, the bank assumes the role of financial assistant. Participants in such programs receive all standard services, but on more favorable terms: premium bank cards, personal manager and extraordinary service.
Such a service involves high costs for the organization of work. Accordingly, the selection of potential customers is more stringent.
How to get premium service at the bank?
The conditions for participation in the program for each institution are different. Mainly:
- the presence of a deposit in the amount of 1 million rubles .;
- the acquisition of luxury banking products;
- work in the field of investment: with mutual funds, precious metals, OFBU, etc.
Premium banking is intended primarily for wealthy people who value their time: athletes, politicians, top managers, executives, representatives of show business, etc.
Package of services
Premium banking goes well beyond standard. Its goal is to provide the client with a personal financial assistant who would serve the client quickly and with high quality. At the forefront is the speed of resolving the issue, which should be combined with comfort and a personal approach. The range of services includes:
- Financial planning: identifying investment needs and building capital.
- Concierge services - round-the-clock access of customers to the services of booking tickets, hotels, cars, reserving a table in a restaurant, etc.
- Discount programs for cashless payments.
- Service with increased comfort. Hotels and airports have special rooms where you can relax, eat and take a shower.
- Quick (re) card issue. If abroad the client loses his payment instrument, it will be enough for him to simply inform his manager about this, and the order for the registration of a new plastic will go to work.
- Accompanying services: art banking for the evaluation of art objects, advice on taxation, currency laws, legal support anywhere in the world.
Issue price
Compare the tariffs for high-quality customer service at two state-owned banks.
To participate in the bonus program at VTB24, one of these conditions must be met:
- Open a deposit or invest 15 million rubles.
- Receive a salary of 100 thousand rubles. per month.
- Issue a platinum card.
Sberbank has an entry threshold below:
- Open a deposit or invest 4 million rubles.
- Get an elite platinum card.
- Purchase shares in the amount of 200 million rubles.
Service list | "VTB 24" | Sberbank |
Standard Services | Yes | Yes |
Personal Hotline | Yes | Yes |
Personal manager | Yes | Yes |
Assistance in investing funds | Yes | Yes |
Increased deposit rates | Yes | Yes |
Preferential Exchange Rate | | Yes |
Personal concierge service | Yes | |
Organization of non-banking services (valuation of art objects, etc.) | Yes | |
Access to bank safes | | Yes |
Getting exchange rates from the exchange | | Yes |
Comparison of conditions
Each customer selects the best banks for premium services for themselves. But if we compare the conditions of two state institutions, then Sberbank has a lower entry threshold, but fewer services. A financial institution focuses on operations with foreign currency.
In Sberbank, there are several managers per consultant. Therefore, queues in service rooms cannot be avoided.
Premium banking at VTB24 appeared earlier than at Sberbank, and has already improved significantly. Managers undergo special training and periodic certification on knowledge of products and job compliance. The financial institution relies on the concierge service popular in Europe. But in fact, the need for it goes by the wayside. Why call a consultant to request a taxi if you can download the mobile application and call the car in one click?
Market situation
The Pareto rule applies to all areas of life, including banking. In the segment of servicing individuals, 70–80% of the bank’s income comes from 5–10% of wealthy customers. That is, it is more profitable to attract one wealthy investor than a hundred small ones. This becomes clear if we compare the tariffs for annual servicing of premium cards: 3000 rubles. against 900 rubles. on ordinary credit cards. But "dear" customers are willing to invest only in large banks. Therefore, financial institutions are switching to the middle class, also assigning it VIP status. In international practice, premium banking begins with an investment of $ 1 million. The average banks in Russia reduced this threshold to 3 million rubles.
A new trend in the market is testing banking services before buying them. Gazprombank and UniCredit customers can receive all the privileges of the Private segment before deciding to invest a large amount. Let us consider in more detail how this scheme operates in Sberbank. For the first two months from the date of execution of the contract, the service commission is not deducted, provided that the client does not refuse the service during its “testing”. Further, a new condition comes into force. If the total balance of the account at the end of the month is more than 2.5 million rubles, then the client receives a full range of services for free.
Reviews
A review of premium banking services on the market once again proved that not all that glitters is gold. Dear customers overpay for standard banking products, and then often face serious problems, as a result of which they express their negative reviews.
VIP package includes customer service abroad. It is with obtaining standard services abroad that problems most often arise. Either the card at the ATM will be blocked, then the account, and all because of transactions made abroad. And a call to a personal manager in such a situation can not always solve the problem. But most of the complaints come to endless lines in the service rooms. “Before, everyone waited for free, but now for the money!” - joking customers.
Billion contribution
The benefits of premium banking services are not received at all by customers of institutions, which are subsequently revoked. And the point is not even to exceed the deposit guaranteed by the state limit of 700 thousand rubles. The fact is that customers cannot prove the fact of investing in a bank.
Such a scheme was revised at the Master Bank, which was closed in 2013. The client who opened the account for a large amount was invited to a separate office and made an atypical agreement with him for a higher percentage. For such transactions, the financial institution raised more than 1 billion rubles. But before the license was revoked, the DIA did not even know about the existence of VIP depositors at this institution. Since the funds were not deposited through the cashier, clients with such agreements were not even entered into the register.