Best Banks for High-Net-Worth Clients 2024
These banks welcome high-net-worth clients who keep large balances in their accounts, showering them with fee breaks and access to financial-planning services.
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.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
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.
Kiplinger's Best Banks
- Best National Banks
- Best Internet Banks
- Best Credit Unions
- Best Banks for Retirees
- Best Banks for Travelers
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.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.
-
What's Better Than Investing in Crypto? These 'Boring' Picks
Cryptocurrency may be good for a thrill, but older investors are better off with assets like bonds, guaranteed annuities, CDs and maybe dividend-paying stocks.
By Ken Nuss Published
-
Four Actions to Lessen Retirement Stress for Women (and Men)
Saving for retirement is anxiety-inducing for everyone, especially women. Following this four-part action plan can help improve your financial security.
By Nicole Stokes, CLTC®, CLU®, ChFC®, M.A., RICP® Published
-
What's Better Than Investing in Crypto? These 'Boring' Picks
Cryptocurrency may be good for a thrill, but older investors are better off with assets like bonds, guaranteed annuities, CDs and maybe dividend-paying stocks.
By Ken Nuss Published
-
Four Actions to Lessen Retirement Stress for Women (and Men)
Saving for retirement is anxiety-inducing for everyone, especially women. Following this four-part action plan can help improve your financial security.
By Nicole Stokes, CLTC®, CLU®, ChFC®, M.A., RICP® Published
-
Year-End Retirement Tax Planning Actions if You Have $1 Million or More
Consider implementing these four strategies before December 31 to potentially improve your tax situation for this year and the future.
By Joe F. Schmitz Jr., CFP®, ChFC® Published
-
Five Simple Strategies to Ensure a Happy Retirement
Employer retirement plans are great, but individual responsibility plays a huge role in retirement success. Here's how to empower yourself.
By Romi Savova Published
-
25 Financial Moves to Consider Before December 31
Tidying up your financial house before the New Year kicks off will put you in a great position to have a financially satisfying and successful 2025.
By Jonathan I. Shenkman, AIF® Published
-
Five Side Hustles You Could Turn Into a Full-Time Business
You might be able to capitalize on your expertise in ways you haven't thought of, possibly even leading to quitting your 9-to-5 job to do what you love.
By Anthony Martin Published
-
Stock Market Today: Nasdaq Nabs New High After Jobs Data
The S&P 500 also closed at its highest level ever, while the Dow Jones Industrial Average was pressured by another down day for UnitedHealth stock.
By Karee Venema Published
-
Rebound in Jobs Growth Keeps Fed on Track: What the Experts Are Saying
Jobs Report No nasty surprises in the November payrolls data leaves a quarter-point cut in play.
By Dan Burrows Published