Best high net worth banking
 

As far as I have been able to figure out, Citigold (the other thread got me interested in these types of accounts! ) seems to have the most features/benefits including the waiving of fee on the Diners, AAdvantage and PremierPass Elite cards.

------------- Summary from Citigold website --------------
Accounts
When you open a CitiGold account relationship online you get:
• An interest-bearing checking account
• Checking Plus® (Variable Rate) overdraft protection1
• Premium Citibank® / AAdvantage® Debit Card2

Rewards

•
No annual fee for the:


–
Premium Citibank® / AAdvantage® Debit Card (a $65 value)

–
Citi® Platinum Select® / AAdvantage® World MasterCard® (an $85 value) and/or a personal Diners Club® Card (a $95 value)3

•
Unlimited check-writing for free, regardless of your combined average balance

•
Free online banking with bill pay, e-mail & wireless banking alerts, online bank statements4

•
Waived fees on stop payment requests, official checks, money orders, incoming wires (plus a 50% discount on outgoing online wires using Citibank® Online) and foreign currency transactions. In addition, the annual fee for Checking Plus® (Variable Rate) is waived.

•
Complimentary membership to Women & Co.® — a Citigroup program that offers access to financial education and consultative resources.5

Preferred Rates & Discounts6

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Checking Plus® (Variable Rate) overdraft protection

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Foreign currency transactions

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First Mortgages—plus priority processing of Home Equity Applications

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Margin Lending available through Citicorp Investment Services if you include a Citicorp Investment Services brokerage account in your CitiGold relationship.

Priority Service

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A dedicated Customer Service number available 24/7 (1-800-756-1200)

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A consolidated monthly statement if you include your banking, credit, retirement and investment accounts in your CitiGold relationship

•
Priority status when you apply for loans

•
Invitations to special events

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Notification of special offers

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You also have the option to add a Citicorp Investment Services Brokerage account. If you do, a Financial Executive7 will be dedicated to helping you select investments to help meet your financial goals with a variety of investment choices.8




What You Need
• An initial deposit of $500 into CitiGold® checking is required to open the account
• To avoid a $25 monthly service fee, within 6 months of opening a CitiGold account relationship you need to maintain a combined household average balance of $100,000 or more in eligible deposits, credit balances, investments and retirement accounts,

or,

• $250,000 if you elect to include the outstanding amount of your first mortgage from CitiMortgage in your CitiGold relationship.

------------- End of Summary from Citigold website --------------

Which total high net worth bank account do you use / think is better ?

Thanks,
KFlyer

I also checked the Bank of America website which only shows the Advantage checking which shows that BoA has practically not shown any interest in this segment of the business, which I find very weird ..

Suntrust and Wachovia have similar accounts but are not very impressive ..

Citibank Private Bank gives you all thoses benfits + your checking account is either a SB FMA or Citigold checking account depending on your average balance. Wires are free both ways + free safety deposit(size dependant on your balance). Waives Annual fee on Chairmen card for 1 year only. Rebates any and all ATM fees charge by other banks. AA Private banking Select Visa ( no mileage cap Visa card for people without status on AA). $9.99 to $19.99 online stock trades.

Min to open account is $3MM or $5MM with loans.

Tiers For Private bank are as follows:

$1MM-$3MM - Small safety deposit + $19.99 online trades Citigold checking only.
$3MM-$5MM Medium safety deposit + 14.99 online trades option for FMA checking.
$5MM+ Large safety deposit + $9.99 online trades.

LOL it called Premire banking at BOA same thing as Citigold more or less. Link

Benfits :

dedicated financial team committed to providing you with comprehensive financial strategies and access to customized credit, deposit and investment solutions from Bank of America and Banc of America Investment Services, Inc.

Comprehensive financial strategies
Investment solutions
Mortgages and loans 1
Checking and savings accounts
Premier Visa Cards 2
Online Banking
Insurance 3


And BOA gives you $5 online stocks trades which is nice.

If you have $100,000 in combined deposits, investments, lines of credit and loans (not including a first mortgage) or $500,000 in combined balances (including a first mortgage), you may qualify for Premier Banking & Investments.

Thanks .. BoA has no link from their main site unlike Citibank which is why I thought that BoA not caring about this clientele is a little weird ! :confused:

I'm familiar with Bank of America's services and they simply do not list them on the website. Bank of America's Premiere Bank is for those with investable assets greater than $250k and less than one million (they increased it from $100k a few months ago). The Private Bank is for those with one million or greater. Citigold is equivalent to BOA's Premier Bank product offering. Premiere has a few more products ..sorry.. "solutions" than the typical consumer has access to, but at the Private Bank level you can generally build a solution to fit. I would assume the same holds true for Citi and the rest.

BOA, HSBC, and Citi all have two different levels of this type of banking - Citigold/Premier and Private Bank. It looks like you've found the citi info. BOA does have a link off the main site, its listed under "Investments & Wealth Management".

BOA Premier Banking: http://www.bankofamerica.com/premierbanking/
BOA Private Bank: http://www.bankofamerica.com/privatebank/

HSBC Premier: http://www.banking.us.hsbc.com/premier/index.html
HSBC Private Bank: http://www.hsbcprivatebank.com/

Can someone explain to me why I should sign up for Citigold? What's the advantage?

My current setup:

Credit cards:
Citi Chairman (paying $400, for lounge access)
Diners Club (got fee waived on my own, for rental cars)
Citi AA (no fee right now, churning)
Amex SPG (well worth the $30 fee, for actual spend)

Banking:
Wachovia Crown Banking (free because of next item, checking, safety deposit box, certified checks, 2 withdrawals outside of network)
Wachovia home equity line of credit (at prime - 0.75%, opened thru lendingtree, no fee)
Citi online savings (5% interest, free transfers in or out)

Always looking for better :)

Citigold would give you up 1200 Thank You Points per Month, i.e. 14,400 per year. Which equates to $150+. Citi may beat your HELOC rate...

I'll check it out then. I do love the online savings account there. Way easier to deal with than HSBC.

For the HELOC: the offer I got from Citi thru lendingtree was for prime - 0.5% + I would have to pay $1300 if I close it within 3 years (I tend to get a new HELOC every year and/or move often so that was a no go). Funny thing: I get better offers from Wachovia by going thru lendingtree than by going thru a Wachovia branch. It pissed off my personal banker last year ("what about our relationship?" she asked, I said "a quarter point and the 40K United miles (at the time) are hard to pass up"). I assume things are similar at Citi... Please let me know if I'm wrong.

LOL i have very large balance with Citi Private bank. I only taken a 1 loan from Citi as my mortgage broker has always been able to get me a better rate. 1X tho Citi when was hungry told me they would beat any rate my broker found. So I currently have 7/1 ARM with 3.187% rate 4 years left on arm. They beat Chases rate by giving a 7/1 ARM with same rate as Chase. Normally Citibank rate at the time was 3.75%. My personal banker has never complained to me about anything. He understand it business realtionship. He put most of my cash into VRDN or 28 day T-bills which blow away any MMF or FDIC account. Citibank is just happy to collecting underwriting fees on my account as my balances is large. I am sure thoses underwriting fees generate more money for Citi over most other accounts. Mainly because they waive everything under the sky for me. I mean everything. I never been charged for anything at Citibank.