Best Private Banking Options

[rowena]

Interesting. Do you have a direct experience with them? and if so, what are their fees if you don't mind me asking?

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.

As someone who, in my previous life, used to promote "investment products" to Swiss banks, I would never advise to open a management account with them.

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

since ur in the UAE, their banks are the safest and when your in good terms with them, they serve you best

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

- 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- Online banking and mobile banking are outdated and old.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.

 

[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- Online banking and mobile banking are outdated and old.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]

As someone who, in my previous life, used to promote "investment products" to Swiss banks, I would never advise to open a management account with them.

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]

Care to elaborate?

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

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]

If anyone is looking to cash out crypto, then can go with Citigold IPB UK. They will question you and ask for statements(bank and exchange statements) but you will have no issues. You can open completely remote(email + video conf).

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]

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.

Go with directly Citigold IPB UK or SG.

 

[cuno]

Go with directly Citigold IPB UK or SG.

what experience do you have with them?

 

[rowena]

what experience do you have with them?

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.