Understanding the fees and minimum deposits for private banking is critical before making a commitment. This article outlines common structures in Singapore.
Private banks in Singapore generally require:
- Minimum deposit: USD 1–5 million, depending on bank.
- Account fees: Annual charges for services, sometimes waived for larger clients.
- Transaction costs: Fees for investments, FX, and structured products.
- Advisory charges: For bespoke investment planning.
Transparency varies, so prospective clients should always request a detailed breakdown before committing.
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Written by: BankOpen Singapore Editorial Team
The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions.
The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions.
Disclaimer: The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.