Question Liechtenstein private banking

[JohnnyDoe]

Actually it is not only 1%. Think bigger. It is 10% for ten years which means $1M fee for a $10M portfolio

so what? Is 1% per year changing your life? (actually the fee is lower with private banks, but the substance doesn't change)

 

[turtle]

so what? Is 1% per year changing your life? (actually the fee is lower with private banks, but the substance doesn't change)

In the long term yes. $1M will make a difference to afford your new yacht.

 

[JohnnyDoe]

In the long term yes. $1M will make a difference to afford your new yacht.

if you count your pennies, yes it makes a difference. In yacht terms, for a modest 70 foot yacht it equals to about 130 full tanks, or 1300 hours of use.

 

[turtle]

if you count your pennies, yes it makes a difference. In yacht terms, for a modest 70 foot yacht it equals to about 130 full tanks, or 1300 hours of use.

I don't know your point but this is about saving a million USD, not a penny. If you're dealing with small portfolios, it will not be worth it, it is better to spend your time on your business growth but if you're dealing with 8 figure portfolios, they make a huge difference.

 

[Fred]

The Bendura and all LI bank fees are crazy. Custody fees 0,35%, stock market purchase 1,90% and many other fees! No thanks.

They have actually 3.5% Custody Fee.

What we have seen so far banking with them was a Russian Passport Holder with BVI Company and an EU Passport Holder with Panama Company.

They definitely "bank" high risk case and I put bank with ".." because actually they don't bank you but rip you off with fees.

 

[nobel]

They have actually 3.5% Custody Fee.

Right, the custody fees at 0,35% per year and broker fees 1,90% are clearly too much. Remember, Interactivebrokers has only 0,05% broker fees and no custody fees. I prefer free custody fees (IB) or very minimal like Swissquote and the money is just as safe. I don't need "Private Banking" I do it myself.

 

[troubled soul]

Right, the custody fees at 0,35% per year and broker fees 1,90% are clearly too much. Remember, Interactivebrokers has only 0,05% broker fees and no custody fees. I prefer free custody fees (IB) or very minimal like Swissquote and the money is just as safe. I don't need "Private Banking" I do it myself.

100%...........You have to change with time....seems private bank still living in stone age.....in Digital age this charges are not justify at all....Digital age you do not required that much of men power for accounting.....no wonder why Number of private Swiss bank decreasing day by day

 

[turtle]

Right, the custody fees at 0,35% per year and broker fees 1,90% are clearly too much. Remember, Interactivebrokers has only 0,05% broker fees and no custody fees. I prefer free custody fees (IB) or very minimal like Swissquote and the money is just as safe. I don't need "Private Banking" I do it myself.

PV is good if you invest at least $5M. Otherwise IB, Swissqoute, Saxo are more than enough and cheap.

 

[hokus]

PV is good if you invest at least $5M. Otherwise IB, Swissqoute, Saxo are more than enough and cheap.

Where is the benefit with 5m$?

 

[JohnLocke]

Where is the benefit with 5m$?

It's only applicable if you are looking for a place to deposit your money which should not be at your home country.

 

[turtle]

Where is the benefit with 5m$?

They will lower fees for high amounts. You can get better service than online brokers with reasonable fees. IMO 2 benefits are the most significant.

You can benefit from the safety of a big private bank. UBS, DBS, Chase, Citi etc.. they all safer than 20 year old online brokers.

You don't have to waste time with customer service for your requests. You can simply call/whatsapp your RM for any request and it will be prioritized. Let's say you need to sign some document, the document will come to your doorstep for signing.