What are the benefits of private banking? (2024)

• Private banker access

  You may get a dedicated private banker as part of the service. Private bankers are experts in their field. They can use their deep experience to understand your financial situation and advise you in alignment with your goals.
  

• Personal banking products

  Private current and savings accounts combine the fundamentals of personal banking with exclusive features and sophisticated touches. Your Private banker could advise on your day-to-day banking and saving. And you might enjoy exclusive chequebooks and debit cards. The likes of borrowing and protection solutions may also be available.
  

• wealth management services

  When you become a client of a private bank, you might have wealth and assets you want to protect and grow. Private bankers are highly skilled in areas such as tax, trusts and estate planning. Working closely with private bankers, they could provide a roadmap to help you achieve your long-term goals and navigate complex areas.
  

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• Estate planning support

  Estate planning could help you to pass on as much of your assets as possible to your family or other beneficiaries in a tax-efficient way. Private bankers could create an estate plan, including factors such as property, investments, pensions and life insurance.
  

• tax planning advice

  Tax planning is focused on structuring your finances to ensure they’re as efficient as they can be. For example, if you’re combining different sources of income, or you run your own business. Once again, a private banker could consult on the best way to do this, making recommendations on complex tax structuring.
  

• Mortgages - Bespoke and complex lending

  One of the benefits of private banking is that private bankers are aware of the volatility of cash flow. A private banker can advise on bespoke lending, or look to the monetisation of existing assets such as investment portfolios or even luxury cars.
  

  Learn more about Coutts wealth management services

The value of investments, and the income from them, can fall as well as rise, and you may not get back what you put in. Past performance should not be seen as an indication of future performance. You should continue to hold cash for your short-term needs.

• First-class services

  When you bank with Coutts, you can access first-class everyday banking services such as current accounts and mortgages alongside more specialist financial services. An established investment house, we’re committed to helping you grow your wealth and manage your assets. You can rely on us wherever you are in the world, 24/7.
  

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• wealth management

  Our wealth management services centre on the expert, timely advice we offer to clients. We’re committed to understanding your needs – whether you want to protect or grow your assets or are focused on future planning. Our private bankers are qualified and accredited beyond what the industry requires and deeply experienced. Furthermore, they are part of a network that provides access to specialists in the most niche areas of wealth management.
  

• specialist planning services

  We don’t always know what’s around the corner. Plan for your future to secure peace of mind for you and your family. Use our financial planning services to write or update your will, consolidate your workplace pensions, or protect your income through life assurance, income protection cover and critical illness insurance.
  

• investment services

  Easily invest your money in our Personal Portfolio Funds with Coutts Invest. Our experts closely follow these five funds to help you make the most of your investments. Choose a risk level you’re comfortable with and decide how long you want to invest.
  

• the coutts network

  The Coutts Network is an exceptional community of clients who are helping to shape the future prosperity of the UK and beyond. They are trailblazers and pioneers, disrupters, and challengers. Joining the Coutts network opens access to a host of events and networking opportunities to hear from experts across sectors.
  

what are the benefits of private banking? - Faqs

• What is a private bank?

  A private bank is an elite banking service that caters to high-net-worth individuals (HNWIs). It’s usually an arrangement within a bank, rather than a separate bank – typically, a private bank will provide a one-to-to relationship with your own banking adviser. A private bank is what you might use to create efficient investing and borrowing plans – beyond your day-to-day current account – to help with your long term financial growth.

• Why is it called private banking?

  It is called private banking because you have to apply to become a client of a private bank and show you meet its eligibility criteria. The criteria relate to your wealth and assets. Generally, you must be a high-net-worth individual to use private banking services.
  

• How can private banking help me with estate planning?

  A private bank could help you with estate planning through its wealth management arm. Most private banks offer wealth management alongside day-to-day banking. A dedicated Private Banker could consider your property, pensions and other assets and create an estate plan.
  

• Can I access my private banking account online?

  You can often access your accounts online with a private bank in the same way as you can with a high-street bank, many banks offer online banking as an option. Take the example of Coutts. It may date back over 300 years, but it has an app for managing your accounts online via your smartphone.