Finance explainer

Private Banking Explained

Private banking generally refers to personalised banking and wealth services for higher-net-worth clients. The services offered and eligibility thresholds vary by institution.

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Core functions

Services can include cash management, transfers, investment management, custody, lending and financial planning. A relationship manager often coordinates the client's access to products and specialists.[1]

International private banking

Private-banking relationships may involve domestic or international customers. A cross-border relationship does not by itself identify which services a particular institution is authorised to provide.[1]

A service description

The term describes a client-service model. It does not mean that a bank is family-owned, establish a corporate succession, or explain why a particular family sold or acquired an institution.[1]

Regulation and accountability

The FFIEC manual sets out specific US due-diligence requirements for qualifying private-banking accounts involving non-US persons. It distinguishes that legal definition from the broader range of services marketed as private banking.[1]

References

Sources & further reading

Sources checked 23 September 2026. Dates below refer to publication or the cited record. Company and family publications are labelled separately from independent reporting.