Best Banks for High Net Worth [2025]: Not Only for Millionaires

The best banks for high-net-worth individuals offer personalized service in return for your sizable deposit. They might offer wealth advisors, advice on taxes and trusts, and more.

I recommend Wells Fargo for high-net-worth relationship banking if you intend to stay loyal to one bank and Chase Private Client Checking℠ if your total investable assets fall within a range of $150,000 and $1 million and you want dedicated customer support. Many private banks have higher minimum balance requirements, so Chase Private Client Checking℠ is where you could get started with private wealth management if you have fewer assets.

If your assets are above $10 million, I recommend J.P. Morgan Private Bank as one of the best banks for its award-winning variety of services and experience with managing large amounts of wealth.

If you're not yet a millionaire, you can still find great banks offering high APYs that don't require a six-figure deposit.

How we evaluate products

To determine the best banks for high-net-worth individuals, we researched the top U.S. banks that offer exclusive perks and benefits to private banking clients and wealthy individuals. We evaluated the minimum balance requirements, features, and services offered by each bank.

We also considered the unique needs and preferences of high-net-worth individuals when it comes to banking. Based on these factors, we compiled a list of banks that could fit the needs of those individuals. Keep in mind that our list is not comprehensive and doesn’t follow a certain order. Our aim is to provide a starting point for anyone who is researching this subject.

Compare the best banks for high-net-worth individuals

Bank service	Minimum balance	Great for
Wells Fargo Premier Checking	$250,000 to avoid the $35 monthly fee	Individuals with many Wells Fargo accounts
Chase Private Client Checking℠	$150,000 to avoid the $35 monthly service fee	Priority support
J.P. Morgan Private Bank	$10 million	Dedicated support specialists
Citigold Private Client	$1 million	Assets greater than $1 million
Goldman Sachs Private Wealth Management	$10 million	Assets greater than $10 million
Morgan Stanley Private Wealth Management	$10 million	Investing benefits

Wells Fargo Premier Checking

I can see this premium account being a good fit for you if you're loyal to Wells Fargo. You can open it even if you don't have millions of dollars because it only requires a minimum deposit of $25, although you'll need a balance of at least $250,000 to avoid the $35 monthly fee.

This high-net-worth bank account is ideal for people who choose Wells Fargo for many of their financial needs because it offers preferred rates on select loans, Platinum Savings accounts, and CDs. It also waives many banking service fees, including foreign transaction, monthly (with qualifying linked balances), and ATM fees. You'll receive discounts on foreign currency exchanges, automated investment portfolios, and Wells Fargo Advisors as well.

I wouldn't recommend Wells Fargo Premier Checking if you don't plan to bank, invest, and open other accounts, like credit cards and/or loans, with Wells Fargo. You should also consider other options from this list if you can't waive the monthly maintenance fee or want more professional support besides a dedicated banker. You'd receive a more exclusive wealth-planning experience from Goldman Sachs and a team of specialists from Chase Private Client.

Read our Wells Fargo Premier Checking review

Chase Private Client Checking℠

I recommend Chase Private Client Checking℠ if you have nearby Chase branches that offer Private Client services, especially if you already bank with Chase. It's the best option on this list for priority support because Chase Private Client Checking℠ customers can use the Private Client phone line to reach specialized bankers who can help answer questions and resolve issues. Account holders also enjoy priority support for personal finance, loans, and business needs.

You might also find Chase Private Client Checking℠ benefits valuable if you travel internationally, as Chase won't charge you a fee at non-Chase ATMs worldwide and will refund ATM fees charged by the non-Chase ATMs. It also won't charge for certain wire transfers.

Chase Private Client Checking℠ comes with a $35 monthly service fee unless you meet the $150,000 balance requirement. This applies to any combination of your checking account and linked qualifying deposit or investment accounts, or if you have a linked Chase Platinum Business Checking account.

J.P. Morgan Private Bank

J.P. Morgan Private Bank makes sense if you value personalized service and having access to your own advisors. Clients receive dedicated support from J.P. Morgan team members, including a relationship manager, and client service professionals for any questions they have about J.P. Morgan or Chase products and services.

This is premium relationship banking, and you can generally only qualify to join if you have at least $750,000 in qualifying assets with J.P. Morgan Chase. Clients can withdraw local cash in different countries with fee-free access to ATMs worldwide.

We'd recommend J.P. Morgan Private Bank to you if you have a hefty sum to deposit and value high-quality, concierge-level customer service.

Citigold Private Client

Citigold Private Client makes sense if you want a comprehensive solution for your finances and have passed the $1 million mark in assets.

We would especially recommend it if:

• You want access to a full wealth team, including a wealth advisor, wealth relationship manager, financial specialists, and service teams.
• You appreciate lifestyle benefits, such as access to exclusive experiences, complimentary admission, and invitations to private events.
• You want unlimited refunds on ATM fees at non-Citibank ATMs worldwide.

Citigold Private Client doesn't make sense if you don't meet the balance requirements. I would also consider whether you will actually use the lifestyle benefits. If not, the strict requirements for this account may not be worth it.

Goldman Sachs Private Wealth Management

Goldman Sachs Private Wealth Management makes sense if you have over $10 million in investable assets and prefer curated financial support.

I think you might find Goldman Sachs Private Wealth Management benefits valuable if:

• You want a low client-to-advisor ratio: Clients receive support from wealth advisors that are immersed in your world.
• You want personalized financial solutions: Goldman Sachs wealth advisors use a holistic approach to provide you with financial services that meet your unique needs.
• You want global support: Goldman Sachs has offices in the Americas, Europe, Middle East, Africa, and Asia.

Goldman Sachs Private Wealth Management doesn't make sense if you can't meet the high minimum balance requirement.

Morgan Stanley Private Wealth Management

Morgan Stanley Private Wealth Management makes sense if you fall on the higher end of the high-net-worth individual range, such as $10 million or more in assets, and is ideal if you're looking for investment-related perks.

Morgan Stanley owns E*TRADE, a renowned online broker known for its cutting-edge stock-trading platform. With Morgan Stanley Private Wealth Management, you'll receive personalized wealth management and investing strategies, including custom solutions and advising. For example, the Art Resources Team at Morgan Stanley could help you manage your art portfolio.

Private Wealth Management customers can expect personalized solutions for all their financial needs, with benefits that even extend to lifestyle perks and cybersecurity.

Morgan Stanley Private Wealth Management doesn't make sense if you can't meet its minimum balance recommendations of at least $10 million.

How high-net-worth individuals should choose a bank

If you're a high-net-worth individual, I would recommend considering these factors before choosing the best bank for you.

Requirements

The minimum balance requirements can vary by millions of dollars for banks designed to service high-net-worth individuals. For example, you need at least $150,000 for Chase Private Client Checking℠, but Goldman Sachs Private Wealth Management requires at least $10 million.

Your choice of a bank could depend in large part on the amount of wealth you want to manage. I would choose a bank that caters to ultra-high-net-worth individuals if you have over $30 million in assets, as it will have professionals experienced in handling such large amounts of money.

Fees

I always encourage people to look at fees when opening any new account, and it's no different for high-net-worth individuals. Be sure to consider any applicable bank fees and additional pricing for the services you're looking to access from a financial institution, such as making wire transfers or purchasing certificates of deposits (CDs).

Some banks might charge fees for simply having you as a client. That's the case with Chase Private Client Checking℠, which charges a $35 monthly service fee if you don't meet certain requirements.

Services

Make sure to have a clear understanding of your own personal finance needs and goals before selecting a bank. Then look at what services the bank offers to see if they align. Common private banking services include:

• Brokerage accounts
• Cash management
• Investment management and investment services
• No foreign exchange or transaction fees on debit card purchases
• No foreign exchange fees
• Fee-free ATM withdrawals
• Deposit accounts
• Personalized solutions

Benefits and perks

Many banks for high-net-worth clients provide lifestyle benefits on top of wealth management services. This could include discounts on brands, invitations to exclusive events, and access to lifestyle advice or concierge services.

I recommend not only looking into the benefits and perks offered by the banks you're considering but also giving thought to which benefits you will actually use. It's not helpful to have discounts on brands that you don't shop for, for example.

FAQs

Bottom line

Chase Private Client Checking℠ is easily the top choice on our list if you want increased personal banking support but don't have more than $1 million in assets. For ultra-high-net-worth individuals, J.P. Morgan Private Bank is an excellent award-winning choice that requires you to have at least $10 million in assets.

For more help finding the right bank for you, check out recommendations for the best banks.