Best Banks for High Net Worth Clients

Best: Citibank

Why he won: Customers who maintain large balances receive top-notch treatment and can visit branches across the country and around the world.

Standout account: The Citigold Account Package offers a host of complementary services and unique benefits.

Where is it: Over 650 locations in nine states, including many in California and New York, plus Washington, DC Terms and pricing apply in New York.

The Citigold account package is available to those who hold at least $200,000 in eligible Citi deposit, retirement and investment accounts. Citigold clients have a Relationship Manager as a resource person and a Wealth Management Advisor who provides financial planning and investment advice. You get a free checking and savings account (0.12% yield), plus free standard checks, stop payments, overdrafts, wire transfers, and money orders. In addition, all out-of-network ATM surcharges are refunded. Up to $200 per year is reimbursed for subscriptions including Amazon Prime, Costco membership fees, Hulu, TSA Precheck and Spotify Premium. Travelers benefit from a waiver of foreign transaction fees on debit card transactions; free next day delivery of foreign currency to your home, office or nearby bank branch; janitorial; and access to more than 100 Citigold lounges worldwide (attached to Citi properties), which offer refreshments and Wi-Fi. Other perks include free or discounted admission to select cultural institutions and access to special events, such as private dinners with top chefs and reserved seating at sporting events.

Clients who maintain at least $1 million in deposit, retirement and investment account balances are eligible for Citigold Private Clientwhich comes with additional benefits, such as increased ATM withdrawal and purchase limits with your debit card and advanced wealth planning.

Finalist: Chase

Why he won: Chase’s premium accounts are attractive and the bank has an extensive branch presence.

Standout account: Sapphire Banking offers reduced fees and other benefits for customers who maintain a balance of $75,000.

Where is it: Over 4,900 branches in the lower 48 states and Washington, DC

With sapphire bank, those with at least $75,000 in eligible Chase deposit and investment accounts skip the $25 monthly fee. Current Account reimburses all out-of-network ATM fees worldwide and charges no fees for chargebacks, wire transfers, money orders, cashier’s checks, standard checks, foreign transactions, first four overdraft fees over a period of 12 months and a small safe deposit box. Those with $150,000 or more in deposits and investments are eligible for Chasing a private clientwhich offers the same benefits as Sapphire and more, including dedicated banking and investment advisors.

Comments are closed.