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Private Banking

jinkster
Posts: 376 Forumite


Does anyone use Private Banking?
What are the advantages to it?
Thanks.
What are the advantages to it?
Thanks.
0
Comments
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What do you mean by Private Banking?Warning ..... I'm a peri-menopausal axe-wielding maniac0
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Debt_Free_Chick wrote: »What do you mean by Private Banking?
http://www.rbs.co.uk/private.ashx
http://www.barclayswealth.com/private-banking.htm
http://www.hsbcprivatebank.com/0 -
You need to be clear as to what you mean by private banking - do you mean high street private banking that you might be offered in a branch, or true private banking (i.e. you have millions)?What would William Shatner do?0
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You can get private banking with an income of 75k or more or 50k in savings0
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nah, don't bother, get an Independent Financial Advisor if you have lots of doughKavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
I think you have to pay to have private banking, with natwest anyway around 300 quid a year to have your own personal relationship manager.
Con in my opinion.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
bingy_burge wrote: »You can get private banking with an income of 75k or more or 50k in savings
HSBC Private bank:- Requires £2m or more in investments or investible assets
- Banking needs generally taken care of by HSBC Premier
- Lending of less than £2 million generally taken care of by HSBC Mortgage teams
- Investments tend to be bespoke structured products or directly held equities/gilts/ETFs from what I saw while working for HSBC
- Relationship manager
- Some preferential rates
- Generally the same investment and lending products as all other normal customer
- Some other perks which may or may not be useful, but mostly the same sort of stuff you can find in other packaged accounts
I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
I think you have to pay to have private banking, with natwest anyway around 300 quid a year to have your own personal relationship manager.
Con in my opinion.
If they've told you that it's wrongThere is a free account you can have with private banking if you qualify but there's a paid for one too which obviously they will try and sell you
Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
I don't have millions, purely an enquiry. What are the actual advantages to it?Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0
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