Do millionaires have a bank account?

But instead of opting for the standard checking account, these millionaires have access to private banking opportunities and financial services tailored specifically to the money management needs of bank accounts for the wealthy. Two common perks embedded into these bank accounts for millionaires include waived fees and personal bankers.

How much money do you need for a bank account?

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.

Which bank is best for assets under $1 million?

Chase Private Client Checking is our top pick for assets under $1 million, while J.P. Morgan Private Bank makes sense for assets over $10 million. This article was subjected to a comprehensive fact-checking process. Our professional fact-checkers verify article information against primary sources, reputable publishers, and experts in the field.