Best Banks for High-Net-Worth Clients 2024

Best Banks for High-Net-Worth Clients

These banks go out of their way to make sure that high-net-worth customers who keep large account balances get top-tier treatment.  

This is part of Kiplinger Personal Finance Magazine's 2024 best bank for you rankings. See lower down on this page for more categories. 

Citibank

Why it won: Citi's relationship banking packages layer on unique perks.  
Standout account: The Citigold program comes with financial planning, fee waivers, special access to events and more.
Where it is: More than 650 U.S. branches, with many in the Chicago, Los Angeles, New York City, Miami, San Francisco and Washington, D.C., metro areas.

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Overview:
Thanks to its Citigold banking package, Citibank is a perennial winner in our ranking of banks for high-net-worth customers. Those who maintain at least $200,000 in Citi deposit, retirement and investment accounts qualify, and they enjoy a bevy of extra benefits. You can work with a team of representatives who provide financial planning and investment guidance. Plus, get complimentary or discounted admission to certain museums and cultural institutions, such as the New York Botanical Garden and Museum of Modern Art, as well as access to special events, such as private dinners with renowned chefs. Citigold lounges — which are in a handful of cities around the U.S. as well as a few international locations — offer customers free Wi-Fi and refreshments. Each year, get up to $200 in reimbursement for certain subscriptions and memberships, including Amazon Prime, Costco Wholesale, Hulu, Spotify Premium, TSA Precheck and Global Entry. 

When it comes to everyday banking, Citigold customers can take advantage of numerous fee breaks: You pay no monthly service fee on your checking account and no extra charges for online wire transfers, standard checks, cashier’s checks, money orders, stop payments and foreign transactions using your debit card. And Citi reimburses all out-of-network ATM fees worldwide. 

If you have $1 million or more in qualifying accounts, you’re eligible for Citigold Private Client, which offers enhanced benefits, including a $400 annual subscription reimbursement and advanced wealth-planning services.

Citizens Bank

Why it won: The premium checking accounts from Citizens offer plenty of freebies and other compelling rewards.  
Standout account: Private Client Checking provides elevated benefits, including a dedicated team of wealth management professionals.
Where it is: About 1,100 branches in 14 states in New England, the Mid Atlantic and the Midwest. (Terms and rates are for customers in Rhode Island.)

Overview:
Customers who use Quest Checking can take advantage of free personal checks, cashier’s checks, money orders, wire transfers and stop payments. Plus, you pay no foreign-transaction fees when you use your debit card overseas. You also get higher interest rates on savings accounts and money market accounts, as well as discounted fees on mortgages and other loans. If you have at least $5,000 in total monthly deposits into your checking account or keep at least $25,000 in combined deposit and investment balances with Citizens, you skip the account’s $25 monthly fee. 

Those who keep $200,000 or more in deposit and investment balances can upgrade to Private Client Checking, which provides additional perks, such as a dedicated team of advisers from Citizens Wealth Management and up to $10 reimbursed monthly for the fees that out-of-network ATM operators charge for using their machines. 

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Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.