Coutts Bank....

Starbrite

While walking around Eton and Windsor on Sunday Afternoon (Saw Kate Middleton, Don't you know) We came across a Branch of Coutts...

Now my other half informed me you need 1 million just to open an an account with them. Me being me, has had a look on their website, it just tells you the rough outlines of their accounts and invites you to "Become a Client"

http://www.coutts.com/

How true is this need a million just to open an account fact?

If so I now aspire to have have a Coutts Bank Account, when I win the lotto ...... Sod the Sunseeker

Thanks

alanq

Wikipedia says £1 million but the article referenced said in 2001
"The bank, ... demands that each new customer should have £500,000 disposable funds,..."
http://www.telegraph.co.uk/finance/2732426/Queens-bankers-gingerly-enter-the-scary-world-of-advertising.html

Starbrite

Thanks Alanq

Not sure I want an account now " It also boasts of holding the accounts of 40 per cent of the England football squad."

InsideInsurance

Coutts, like most true private banks, dont really have a definitive you need X to have an account with us. They will take into consideration personal circumstances and may consider someone who is slightly below the standard level if they either tick some other boxes or are young and quickly heading in the right direction etc.

Did have a meeting with them once, unfortunately not about opening an account or such, and saw the lunch menu for meeting clients. I'm no wine expert but I can certainly say none of those on offer (for free of cause) will be impacted by the 50p a unit minimum alcohol pricing.

Thankfully I am happy with my tap water in a plastic cup that I get with my bank when I have a meeting though

Itismehonest

The last I heard Coutts was wholly owned by RBS.

InsideInsurance

And it still is, they also own Adam & Company which is the largest private bank in Scotland

Maestro.

I was under the impression that Coutts had to invite you to have an account with them.

InsideInsurance

No, you can certainly apply. Not everyone with large investments or incomes are obvious.

The only person I have known to have banked with them certainly approached them rather than having been invited.

jason1231972

Maestro. wrote: »

I was under the impression that Coutts had to invite you to have an account with them.

I think at one time you did. I read an article a couple of years back about how the truly posh (old money) are gradually turning their back on Coutts, due to them effectively opening their doors to C-list riff-raff (reality show stars, and so on), who just so happen to have a few hundred grand kicking about.

Plxply

jason1231972 wrote: »

I think at one time you did. I read an article a couple of years back about how the truly posh (old money) are gradually turning their back on Coutts, due to them effectively opening their doors to C-list riff-raff (reality show stars, and so on), who just so happen to have a few hundred grand kicking about.

Truly posh should have an Amex Centurion Card. Mhmm, pointless carbon fibre card, no better way to show your (supposed) superiority.

InsideInsurance

Carbon fibre? Since when? They were titanium up until very recently at least