Best Private Banking Options

[rowena]

Yes, my recommendation‍ is based on real experience. Their banking fees are not expensive but investment fees are⁠ expensive. They also charge negative fees for EUR like all big banks.

Swiss banks⁣ are good for wealthy people(min $10M) because wealthy people are more interested in protecting their⁢ wealth than fees.

UAE banks are safe but not a good place to keep your funds for the︂ long term because;

- UAE banks employ lots of inexperienced staff. It is very hard︃ to get good service including private banking.
- Online banking and mobile banking are outdated︄ and old.
- UAE banks can freeze your money easily because of disputes, governmental problems,︅ etc.

 

[csp dubai]

UAE banks employ lots of inexperienced staff. It is very hard to get good service‌ including private banking.
- Online banking and mobile banking are outdated and old.
- UAE‍ banks can freeze your money easily because of disputes, governmental problems, etc.
i a kind⁠ of agree , i think best place is singapore but very hi chips for entrance⁤

 

[Silvio]

Care to elaborate?

What was the issue: products are bad\risky\high fees and don't generate⁠ alpha? Or maybe all of the above

 

[daxbr]

Let me just mention‍ one issue and that should give you an idea what they were depositing into their⁠ discretionary accounts. Their commission was 50%.

 

[iknowwhatyoudid]

For someone who is also a UAE resident thinking about cashing out, would you recommend⁤ opening directly with Citigold IPB UK or opening a saving account with a local branch,⁣ deposit $200k and then request access to Citigold IPB UK?

By default, I'm reluctant to⁢ share detailed information with bankers in the UAE, people here come and go easily.

 

[rowena]

Go with directly Citigold IPB UK or SG.

 

[cuno]

what experience‌ do you have with them?

 

[rowena]

I have no‌ experience but I know people use them. They allow incoming crypto related transfers as long‍ as you provide necessary documentation/source of funds. You can use them for cash out. The⁠ bank is safe we're talking about CITI but I don't recommend investing with IPB because⁤ investment fees are a ripoff.