How is a private bank different from a retail bank and is it any better?
Private Banks usually focus on wealthy individuals who have between 100-500 million yen in savings for their personal long term investment needs. These larger amounts often come from the sale of land or business holdings, especially IPOs. Many private banking customers have two or more bank or securities accounts at the same time. One private bank account is often for loans and time deposits. Other securities accounts are more for investment style products. They often keep a retail bank for every day needs like paying bills. How to best use your savings for low, medium or high-risk investments is what private bankers spend most of their time advising customers about.
Related Questions
- What should I do if my private sector contains both licensed retail pharmacies and licensed drug stores with substantially different prices?
- What products and services make Private Banking different from what I can get from the rest of the bank?
- How is a private bank different from a retail bank and is it any better?
