Skip to headerSkip to main contentSkip to footer
Get our Free E-newslettersGet our Free E-newsletters
Kiplinger logoLink to homepage
Get our Free E-newslettersGet our Free E-newsletters
Subscribe to Kiplinger
Subscribe to Kiplinger
Save up to 76%
Subscribe
Subscribe to Kiplinger
  • Store
  • Home
  • Investing
  • Retirement
  • Taxes
  • Personal Finance
  • Your Business
  • Wealth Creation
  • More
    • Podcasts
    • Economic Outlooks
    • Tools
  • My Kiplinger
    • Kiplinger's Personal Finance Magazine
    • The Kiplinger Letter
    • The Kiplinger Tax Letter
    • Kiplinger's Investing for Income
    • Kiplinger's Retirement Report
    • Store
    • Manage My E-Newsletters
    • My Subscriptions
  • Home
  • banking
banking

Best Banks for High-Net-Worth Families

by: Lisa Gerstner
June 6, 2017

iStockphoto

With their wealth-management and private-banking offerings, a lot of banks are courting clients with significant assets.

We looked for banks that don't require you to be a multimillionaire to take advantage of generous benefits for keeping a high deposit or investment balance.

Our top picks host a broad range of no-fee accounts and services, and they have wide networks of branches.

  • The Best Bank for You, 2017

1 of 3

BEST: Citibank

With its Citigold package, Citibank rolls out the red carpet for those who keep a combined $200,000 or more in deposit, in­vestment and retirement accounts with the bank.

Citigold customers have access to a banking relationship manager and a financial adviser, as well as to wealth-management seminars, outlook events on the markets and the economy, and private dining, sporting and concert events. Citigold perks include the option to open multiple free Citigold checking accounts (0.03% interest rate); unlimited refunds of out-of-network ATM fees; free standard checks, cashier’s checks and money orders; a free or discounted safe-deposit box; increased interest rates on savings accounts; discounts on mortgages and other loans; $4.95 online stock trades with Citi's investing services; and a waiver of the standard $75 annual fee on an investment account. Citigold members can also earn the highest level of Thank­You rewards points -- redeemable for travel, cash back and other items -- for having a monthly direct deposit and meeting other requirements.

Citigold is especially attractive for international travelers. You'll pay no foreign-exchange fee on debit card transactions, and you can make free transfers from your account to other Citibank accounts in certain countries.

  • 29 Ways to Earn 1% - 10% on Your Money in 2017

2 of 3

RUNNER-UP: Bank of America

Bank of America has several tiers of wealth management and private banking services. Merrill Lynch Wealth Management is dedicated to those with assets of $250,000 to $10 million and comes with guidance from a financial adviser. U.S. Trust, Bank of America Private Wealth Management focuses on clients with $3 million or more in investable assets seeking advice on such issues as trust and estate planning and philanthropy.

But for those who keep as little as $20,000 in bank and investment accounts, BofA's Preferred Rewards program offers benefits. The most-generous perks go to those with a balance of $100,000 or more: unlimited ATM fee refunds; a 75% bonus on cash back or points earned with eligible bank credit cards; free checks; the ability to hold up to four checking and four savings accounts with no monthly fees; discounts on loans; a 20% rate boost on a money market deposit account; and up to 100 free stock trades monthly in a Merrill Edge investment account.

  • Time-Tested Tactics to Build Your Wealth

3 of 3

The Best Banks and Credit Unions for You, 2017

iStockphoto

.kip-slideshow ul.kip-list-nobullet li {font-size: 14px;margin-bottom: 0;line-height: 1.5;}

These stellar banks and credit unions are making all the right moves to win satisfied customers:

  • Best National Banks
  • Best Credit Unions
  • Best Banks for Retirees
  • Best Banks for Frequent Travelers
  • Best Banks for Millennials
  • Best Banks for Military Personnel
  • Best Internet Banks
  • Best Regional Banks
  • Best Banks for Students
  • banking
  • wealth management
  • management
Share via EmailShare on FacebookShare on TwitterShare on LinkedIn

Recommended

33 States with No Estate Taxes or Inheritance Taxes
retirement

33 States with No Estate Taxes or Inheritance Taxes

Even with the federal exemption from death taxes raised, retirees should pay more attention to estate taxes and inheritance taxes levied by states.
February 24, 2021
18 States With Scary Death Taxes
inheritance

18 States With Scary Death Taxes

Federal estate taxes are no longer a problem for all but the extremely wealthy, but several states have their own estate taxes and inheritance taxes t…
January 24, 2021
Are There Cracks in Your Pension Plan?
retirement

Are There Cracks in Your Pension Plan?

You're counting on pension benefits in retirement. But how secure is your pension plan? We offer some guidance, including a pension calculator, to hel…
December 28, 2020
Doug Glanville on Race, Sports — and Personal Finance
personal finance

Doug Glanville on Race, Sports — and Personal Finance

Kiplinger contributor (and former Major League Baseball player) Doug Glanville shares insights from years playing the game — and investing. Also, what…
December 22, 2020

Most Popular

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer
Coronavirus and Your Money

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer

The IRS has an online tool that lets you track the status of your stimulus checks.
February 19, 2021
Want More Tax-Free Retirement Income? One Man’s Whole Life Decision
life insurance

Want More Tax-Free Retirement Income? One Man’s Whole Life Decision

Whole life insurance might not be something that’s on your retirement planning radar, but for this client, here’s how it served his need to control ta…
February 23, 2021
The Current Plan for $1,400 Checks
Coronavirus and Your Money

The Current Plan for $1,400 Checks

Here's what you need to know about the stimulus check plan currently being considered in Congress for President Biden's COVID-relief package.
February 18, 2021
  • Customer Service
  • About Us
  • Advertise With Us (PDF)
  • Privacy Policy
  • Cookie Policy
  • Kiplinger Careers
  • Accessibility
  • Privacy Preferences

Subscribe to Kiplinger's Personal Finance

Be a smarter, better informed investor.
Save up to 76%Subscribe to Kiplinger's Personal Finance
Dennis Publishing Ltd logoLink to Dennis Publishing Ltd website
Do Not Sell My Information

The Kiplinger Washington Editors, Inc., is part of the Dennis Publishing Ltd. Group.
All Contents © 2021, The Kiplinger Washington Editors

Follow us on InstagramFollow us on FacebookFollow us on TwitterConnect on LinkedInConnect on YouTube