Banks are eager to lure customers who tuck away considerable sums in deposit and investment accounts.
Clients who hold big balances with these banks are rewarded with lots of fee breaks, higher yields on savings, lower rates on loans and financial-planning assistance.
Here's a look at our top bank picks for high-net-worth families.
Disclaimer
All rates as of June 22, 2018.
BEST: Citibank
With a global footprint and a premium account package that's loaded with perks, Citibank shines for customers who can maintain high balances. The Citigold package requires a minimum combined balance of $200,000 in eligible Citi deposit, retirement and investment accounts. Citigold members get unlimited reimbursement of out-of-network ATM fees that other institutions charge, both in the U.S. and abroad; free standard checks, stop payments, incoming wire transfers, money orders and transfers from other accounts to cover overdrafts; discounted commissions on online stock trades ($4.95 each) and a waived annual fee on linked investment accounts; and preferred rates on loans and deposit accounts.
If you travel or do business internationally, you'll have access to more than 1,700 overseas branches, you'll pay no foreign-transaction fees on debit card transactions, you can arrange no-fee transfers from your Citi account to a Citi account abroad, and you can get free next-day delivery of foreign currencies to your home, office or a nearby Citi branch. Citigold clients work with a dedicated financial adviser and get access to special events, such as market-outlook seminars and private dining, sporting, concert and cultural events.
Sponsored Content
RUNNER-UP: Fifth Third Bank
We consider Fifth Third a regional bank, but it covers a decent swath of the country, with more than 1,200 full-service branches in 10 states. And for affluent customers, the Preferred Program is appealing. A $100,000 combined balance in investing and deposit accounts lets you avoid the program's $25 monthly fee and qualifies you for the Preferred Checking account.
Among the program's perks are free standard checks, notary services, money orders and cashier's checks; a free or discounted safe-deposit box (depending on size); reimbursement of up to 10 out-of-network ATM surcharges monthly; preferred interest rates on savings products and loans; and discounts on online investment trades.
Plus, Preferred members can get free identity-theft services, including daily monitoring of your credit report from one credit bureau, monthly credit reports from all three bureaus, and monitoring of your Social Security number on the dark web. The package also comes with investing guidance from financial advisers.
Sponsored Content
The Best Banks and Credit Unions for You, 2018
These stellar banks and credit unions are making all the right moves to win satisfied customers:
Sponsored Content
-
For a More Secure Retirement, Build in Some 'Safe Money'To solidify your retirement plan, write it down, reduce your market risk and allocate more safe money into your plan for income.
-
Five Steps to a Mindfully Fearless CareerIf, like many women, you're struggling with imposter syndrome, try developing an athlete's winning mindset. It's as simple as facing one small fear every day.
-
The Best Places to Retire in New Englandplaces to live Thinking about a move to New England for retirement? Here are the best places to land for quality of life, affordability and other criteria.
-
What Does Medicare Not Cover? Seven Things You Should KnowHealthy Living on a Budget Medicare Part A and Part B leave gaps in your healthcare coverage. But Medicare Advantage has problems, too.
-
The 10 Cheapest Countries to VisitWe find the 10 cheapest countries to visit around the world. Forget inflation woes, and set your sights on your next vacation.
-
15 Ways to Prepare Your Home for Winterhome Now that fall is officially here, it's time to prepare your home for cold weather.
-
Six Steps to Get Lower Car Insurance Ratesinsurance Shopping around for auto insurance may not be your idea of fun, but comparing prices for a new policy every few years — or even more often — can pay off big.
-
How to Increase Credit Scores — FastHow to increase credit scores quickly, starting with paying down your credit card debt.
-
Hurricane Insurance Claims: 10 Things You Should KnowBecoming a Homeowner Hurricane damage? Know what’s covered, what isn’t and how to make the most of your policy if you need to file a claim.
-
5 Great Places to Buy a Vacation HomeWant a vacation home for remote work or a fun getaway? Here are locations with median prices under $400K.
