Private bank accounts worldwide
April 17, 2024 ⚊ 1 Min read ⚊ Views 18 ⚊ BUSINESS
Private bank accounts
Private banking is a set of financial and banking services typically offered to wealthy clients — also known as high-net-worth individuals — by a bank or other financial institution. In comparison to usual checking accounts, a private bank account is traditionally opened with the expectation that the bank will manage the money for you. If you are looking for a secure and prestigious bank for wealth management or other private banking services, the Confidus team can help you find the most efficient solution to fit all your needs.
Opening a private bank account requires a certain amount of paperwork and there will be a procedure to go through. While the main condition for opening a private bank account is being able to deposit a certain amount of cash, there are cases when applicants are denied a private bank account for other reasons. Every year, approximately 5% of applications are turned down due to suspected fraud or illegal activities.
