Value Plus accounts, high net-worth investors, platinum cards, exclusive membership, priority banking are among the banking jargon that are intended to make you feel special. The idea is to distinguish between clients, and banks have adopted different ways to show it.

For instance, the Bank of America (BoA) is into the specialised grind with its Valueplus accounts. To have such an account, you've got to shell out much more than you have to in an ordinary account. In BoA, you require Rs 50,000 as the average daily balance during a month for a Valueplus savings account, as against Rs 10,000 for an ordinary account.

If you aspire to hold a current account in the specialised category, you need a Rs 1 lakh average balance for a Valueplus current account against Rs 20,000 in an ordinary current account in the same bank.

Probably a look at the list of high-flown services will explain the difference in prices of Valueplus and ordinary retail accounts. While services such as automated teller machine (ATM) cards, personalised cheque books, funds transfer across accounts in Bank of America (India), tax/interest certificates, balance confirmation certificates and credit to account for inward remittances are free for both Valueplus and ordinary accounts, services such as courier pick-ups/deliveries (non-cash) once every day and cheque collection (up to 50 a month) from Delhi, Mumbai, Calcutta and Chennai come free of cost only with a Valueplus account.

If you are a Valueplus customer, you can ask for free weekly current account statements and monthly savings bank statements. You will not be charged any commission on international travellers' cheques or any fee on cashier cheque/draft cancellations.

The Hongkong and Shanghai Banking Corp. Ltd calls its exclusive range AssetVantage. To be eligible for an Asset Vantage account, you need to keep at least Rs 1 lakh as your average balance.

The free add-ons that come with this special account include a higher withdrawal limit on ATMs, multiple deposit statements, telebanking, interbank cheque withdrawals across the counter up to a limit of Rs 10,000, exclusive counters, block facilities and a credit card with no joining fee and only 50 per cent annual charges in the first year.

ANZ Grindlays is quite discreet about the services it bases on account balances. An official in charge of one of its Delhi branches says: ``We try not to reveal to our customers that we have any such specialised services for a particular group.''

But the official admits that there is an exclusive range of services available to some selected people. Called the Captain Grindlays Club, membership to this club is only through invitation, and of course with a high average deposit—at least Rs 7.5 lakh.

But as ANZ is strict about the invitation route, the minimum balance requirement does not always ensure membership.

The Standard Chartered Bank has kept the cut-off average deposit for priority banking much higher than the Bank of America and the Hongkong and Shanghai Banking Corp. Ltd—Rs 5 lakh, which is nevertheless lower than the minimum required for the Captain Grindlays Club.

Available only at select centres, the Stanchart priority banking is at present operational at two branches each in Calcutta, Mumbai and Delhi, and one each at Kozhikode and Chennai.

Privacy and confidentiality are the key words at Stanchart regarding priority banking. That is, you're allowed to conduct your financial transactions and discuss your needs with the bankers in total privacy, explains the official at the counter.

Besides privacy, you also make profits under priority banking—preferential interest rates on car finance, finance against shares, primary issue finance and personal loans, for instance. And there's a complimentary gold standard credit card coming your way with no proof of income required.

Among the other benefits are commission-free travellers' cheques, special foreign exchange rates for remittances and a Moneylink ATM card with attractive withdrawal limits. The bank is also planning to start valet parking, room service and locker facilities soon for its priority customers.

And don't forget the freebies: There will be no charges on drafts and pay orders at the Stanchart branches. Plus you can avail of free inter-city transfer of funds across all branches of Stanchart along with free clearing of outstation cheques.

Like other foreign banks, Stanchart also focusses on the fact that you're privileged to hold a priority banking account. Apart from the freebies and discounts, what else, one may ask. Stanchart's answer is: Instant recognition of your priority status at all branches of Stanchart, worldwide.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.