Citibank has been named the “Best Bank for High-Net-Worth Families”.
Kiplinger’s third-annual edition of “The Best Bank for You” highlights national, regional and Internet banks, as well as credit unions. The magazine also selects standout institutions in five personalized categories: No-Fee-No-Fuss, Retirees, Families with Students, Frequent Travelers and High-Net-Worth Families.
This year, Citibank has introduced a range of new offerings, including Citi Wealth Advisor, a digital financial planning solution that helps Citigold clients create personalized financial roadmaps for major financial moments such as retirement, college and more, as well as commission-free trading for ETFs and new-issue U.S. Treasury purchases.
For reference, here are some of the specific services that the winner and runner-up furnish for their high-net-worth clientele, according to Business Insider:
- Citibank | For customers who keep at least $200,000 in deposit, retirement, and investment accounts, the bank offers access to its Citigold Package, which bears a variety of perks: reimbursement of out-of-network ATM surcharges in the US and internationally, waived foreign transaction fees on debit card transactions, and access to a relationship manager or financial adviser. They also include special experiences and insights, such as a “Culture Pass” offering free or discounted admission to institutions like the New York Philharmonic and Los Angeles Contemporary Museum of Art, as well as regular market-outlook seminars. For wealthy clients looking for the most tailored and personal banking experience possible, it also offers private banking.
- BBVA | The bank offers its “Premier Personal Banking” program to clients with a BBVA personal checking account who also maintain a minimum of $100,000 in deposits and investments. The program carries benefits including boosted limits for debit card purchases and ATM withdrawals, refunds of fees for domestic and international wire transfers, and access to a financial advisor. BBVA also offers several wealth management services, such as estate and insurance planning, brokerage options, and private banking. Like Citi, BBVA also offers a private banking service aimed at wealthy clients seeking a highly customized experience.
For a full list of Kiplinger’s top banks and credit unions, click here.