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What is a Private Bank?
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Private Banks generally provide a much more personal and tailored set of services than high street banks. Opening a private bank account often involves a very large minimum deposit, and they can be geared towards providing financial services to individuals with large incomes or high personal wealth.
These services are often only offered to individuals with more than a certain minimum asset amount, often more than £250,000 in savings and assets, although some banks offer private baking services to clients with lesser amounts of savings.