Just fyi, Standard Chartered have changed their fee structure last month.
Priority Banking (same as HSBC Premier) is now free for if you have a mortgage with them with an initial loan drawdown greater than $4m. Its free for the life of the mortgage. If mortgage drawdown is less than $4m, then you need a minimum balance of $500k in your savings account to get for free. If you dont have a mortgage, then if your salary is autopaid into SCB account, you also only need $500k balance (this last one is not new). Failing all that, then you need $1m balance to get the free priority banking service.
In contrast, HSBC requirement is min $1m regardless of whether you autopay your salary, have a mortgage with them etc. But they do have some promotions offering fee waivers from time to time.
I've always thought its a bit silly that if you have a mortgage with a bank (ie a huge negative balance), then why do you need to have a positive $1m of cash or investments at the same time. Why cant the bank just look at the overall relationship that you have with them in determining your status. SCB seems to be the more sensible and logical approach to me, so I will continue banking with them.
I dont really understand why people stick with HSBC. The fact they charge for online local internet transfers but not for writing local cheques is another stupid thing I cannot understand. People are just sheep I guess.