The Best Private Banks for Wealthy People

What are the best private banks for wealthy people and which ones should you avoid?

When choosing a bank, most people tend to go for the brand rather than the actual service. I've seen this happen many times in the last decade, where people go for the big banks in the US or Switzerland before doing any real research.

I'm not saying that these banks are necessarily bad but they`re just not for everyone, especially if you are a high net worth global citizen, working with old school and established banks will most definitely cause you a lot of headaches down the road because they are just not set up to serve your international needs.

What you should do instead is focus on more specialized private banks that already have systems in place for serving an international clientele and who generally focus on providing the best service instead of brand building.

#nomadcapitalist #internationalbanking #bankingadvice
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ABOUT NOMAD CAPITALIST

Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".

Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.

Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.

DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[zandermccoll]

0:37 Introduction
1:50 Reasons for avoiding US Banks
3:00 Reasons for avoiding Swiss Banks
4:30 Reasons for avoiding Liechtenstein Banks
5:09 Reasons for avoiding Megabanks (HSBC, Citi, Chase)
5:49 Recommendations
(Eur: BNP Paribas, Credit Suisse)
(Asia: Bank of Singapore, DBS, KEB Hana)
(Middle East: Lebanon banks)
7:50 Book ad

[nadpul]

Thanks for mentioning Lebanon, as a Lebanese person who grew up there and lived in the western world banking was the pride of the country for the longest time, service reliability stability and secrecy were top notch. Unfortunately now it is a disaster so be careful from approaching our banks.

[jadsrouji]

I was seriously following your great content and truly surprised of what I heard coming across this video; Lebanese banks?!! So strange that the video is posted 8th of October just 9 days before the total collapse of the whole Lebanese banking sector. Objectively and based on some previous facts the Lebanese banking sector showed remarkable risk indicators for the few past years before witnessing what happened in October 2019

[AcademiaEliteGold]

I think this is a GREAT video...but...Please...same video for mid-wealthy...or light-wealthy....500k to 2M

[facemuch]

That Lebanon comment just didn’t age well .

[HowMoneyWorks]

"I have three dollars" - Patrick Star

.... and me. But I'm watching this video so that's cool

[tporcheron]

I think the main question you need to ask is your needs. If investment products, corp set up. handling of corporate stock is important. Hard to beat caymans or Ireland still.

[chickey]

"If everyone can get an account there then no one can get an account there..."
What an outstanding way of describing it! Commonness for all.

[financialprivacy]

One of your best videos! I share your view. However we are quite satisfied with BOG. As you know there wealth department moved in a magnificient ancient building on Liberty Square Tbilisi. Their welcome is warm and service is very high level (at least for the private bankers we have there). In Europe we like Austria and Luxembourg.

[agatyou]

Lebanese bank??? 😂😂😂 What about Madagascar or Haiti private banks? What a joke

[fmac]

"Like building a Luxury Car in a Ford Chassis"

Jags and Volvos from 00" drop a tear.

[lelocle]

Nomad Capitalist has officially "jumped the shark"...

[lialbrown]

From personal experience there are a lot of Juice in Swiss banks, have to avoid them as much as you can because they sell you twice in a split second

[margyiphillips]

Good morning Prof. I see I was quite early with only 24 viewers in class so far😁. I have saved this video in my playlist. One day day.

[klwtherd]

I'm not surprise Andrew mentioned a few banks in the Middle East. I would think they would give you top service for little fanfare. I mean when was the last time a bank in that region defaulted? Like never. 😉

[andrewwalker]

Hi Andrew-- I have had a different experience with Swiss Banks- the first two I worked with we just as you describe... but I have been using a Swiss bank that has just been outstanding and not too expensive. If you want details, let me know.

[haythere]

does credit Suisse still do private banking

[adidevbose]

Can you make a video of where to store your money if you have a net worth of $0.12? I heard UTM (under the mattress) bank is wonderful

[albertinsinger]

If you want to pay huge bank charges then go with private banking. If you actually want to make some money then you need to be with a broker.

[shree]

How about Asian branches of Swiss banks?