Citi Private Bank | Private banking for global citizens (2024)

FAQs

What is the minimum requirements for Citibank private banking? ›

What is the minimum for Citi Private Bank? Citi Private Bank has a total net worth requirement of $10 million USD. What is the difference between private banking and wealth management? Private banking is a variety of wealth management that typically addresses the wealthiest clients and their families.

Citigold Private Client is designed for customers who plan to sustain a Combined Average Monthly Balance of $1,000,000+. Minimum Combined Average Monthly Balance Range must be met within three (3) calendar months. What happens if I don't maintain the Citigold Private Client required Combined Average Monthly Balance?

Citi Private Bank is the private banking division of Citibank; it provides banking services to high-net-worth individuals, family offices, law firms, and other institutions.

Private banking offers personal services to individuals or families.

At most banks, the minimum requirement is approximately $250,000 in investable assets, although some banks may require more. If you meet the criteria and choose private banking, your bank will connect you with a personal advisor to help you manage your money.

Private banks typically have strict eligibility criteria. To become eligible for private banking services, clients must meet specific financial thresholds, usually at least $1 million in liquid assets. The main objective of private banking is to provide clients with excellent service and privacy.

JP Morgan Chase's private bank has been raising the minimum amount of assets you need to become of its clients slowly and steadily for many years. Early this year, it announced that the minimum asset level to remain a private banking customer would double from $5m to $10m.

Global reach

The Private Bank is part of Citi, one of the world's largest financial institutions. With a network spanning nearly 160 countries and jurisdictions across six continents, Citi serves over 100 million consumers and an institutional client base of around 13,000.

Typically, a high-net-worth individual has assets of between $1 million and $5 million. Those with multi-million dollar fortunes, generally assets of at least $30 million, are sometimes identified as ultra-HNWI (UHNWI). The term “net worth” factors in liquid or investable assets.

Citi was named Best Private Bank for Ultra High Net Worth Clients, Best Private Bank for Wealthy Women, and Best Private Bank for Diversity and Inclusion.

Who owns Citi Private Bank? ›

Ida leads Citi's private banking activities globally, overseeing the delivery of wealth management strategies to ultra-high net worth families and their businesses. She is also a member of the Global Wealth Management Leadership Team. Previously, Ida led the Private Bank in North America.

You should consider Citi if you prefer extensive ATM and branch accessibility, both domestically and abroad. Citi will also serve you better if you're looking for a big bank with higher rates. Chase, however, may be a better option for you if branch accessibility and a great mobile app are a priority.

J.P. Morgan Private Bank is named 2024's “World's Best Private Bank” for the fifth year in a row. For its ninth annual World's Best Private Banks Awards, Global Finance Magazine ranked J.P. Morgan Private Bank* first overall.

Citigold Private Client is designed for clients who maintain a minimum combined average monthly balance of at least $1,000,000 in eligible linked deposit, retirement, and investment accounts^†.

Citi Private Bank was named Best Private Bank for Ultra High Net Worth Clients, Best Private Bank for Wealth Women and Best Private Bank for Diversity and Inclusion. Citi was presented with three major awards at the Financial Times, PWM Global Private Banking Awards 2023, held in London on the 9^th November.

Citigold is Citigroup's "mass affluent" banking and investment product, aimed at people who have over $50,000 in investable assets. Private Bank is aimed at rich people, and provides apparently far better services, and advice.

C Hoare and Co's requirements are slightly higher, £3m in deposits and £1m of lending, as is the criteria for SG Kleinwort Hambros (owned by the French company Société Générale), at £2m or more in investable assets. But you can access private banking with less than millions.

To open an account all UK clients and expats are required to save £3m+ or borrow (such as through a mortgage) or invest more than £1m with Coutts. To become an international client, you are required to save, borrow or invest more than £3m with us, depending on your country of residence.