What is the private banking criteria in Australia? How much money do you need?
The criteria may vary depending on the financial institution, but are typically based on the amount of assets the customer has with the bank, for example, at least A$1 million.
What is the difference between a private and premium banking?
Premium banking services may have slightly lower eligibility thresholds compared to private banking. While clients still need to meet certain criteria related to wealth and income, they might not be as stringent as those for private banking.
You can also place free funds on a savings account.
Calculate your future income on a savings account (example):
| Amount, $ | Rate, % | Accrued %, $ |
| 25,000 | 3.75% | 938 |
| 25,000 | 3.80% | 950 |
| 25,000 | 3.85% | 963 |
| 60,000 | 3.90% | 2,340 |
| 60,000 | 3.95% | 2,370 |
| 60,000 | 4.00% | 2,400 |
| 120,000 | 4.05% | 4,860 |
| 120,000 | 4.10% | 4,920 |
| 120,000 | 4.15% | 4,980 |
| 240,000 | 4.20% | 10,080 |
| 240,000 | 4.25% | 10,200 |
| 240,000 | 4.30% | 10,320 |
You can make more detailed calculations using the financial calculators on our website.
What services do Australian banks offer for private banking?
Australian banks offer a wide range of specialized services for private banking clients.
- Access to Exclusive Benefits: preferential pricing, priority service at branches, access to exclusive events and networking opportunities, and premium credit card offerings.
- Estate Planning: structuring assets, minimizing tax liabilities, and ensuring their wealth is transferred according to their wishes
- Banking and Lending Services: personalized banking solutions, customized lending products such as mortgages and lines of credit, and preferential interest rates.
- Concierge Services: travel booking, event planning, lifestyle management, and access to exclusive events and experiences.
- Risk Management: insurance products such as life insurance, income protection, and asset protection strategies to safeguard against unexpected events.
- Retirement Planning: developing retirement income strategies, maximizing retirement savings through superannuation and other vehicles, and planning for a comfortable retirement lifestyle.
- Tax Advisory Services: tax planning strategies, advice on tax-efficient investment structures, and assistance with compliance requirements.
- Wealth Management: investment advice, portfolio management, asset allocation strategies, and access to exclusive investment opportunities
See the similar FAQ about Australian banks:
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Details of companies offering the financial services:
ANZ Bank
Head office’s address: 833 Collins Street
Contact center: 13-13-14
Phone: 61-3-9683-9999
Mail address: 833 Collins Street Docklands, Melbourne
Web-site: http://www.anz.com
Swift code: ANZBAU3M
Financial institution code: ANZ
Stock code: ANZ
ABN: 11 005 357 522
BSB: 015-891
Bankwest
Head office’s address: 300 Murray St
Contact center: 61-131719
Phone: 61-8-9449-2840
Mail address: Bankwest PO Box E237 Perth WA 6841
Web-site: http://www.bankwest.com.au/
Swift code: BKWAAU6P
ABN: 48 123 123 124
BSB: 325-185
CommBank
Head office’s address: 201 Sussex Street
Contact center: 13-22-21
Phone: 61-2-8055-4001
Mail address: Level 10, Tower One, Darling Park, 201 Sussex Street
Web-site: https://www.commbank.com.au/
Swift code: CTBAAU2S
Stock code: CBA
ABN: 48 123 123 124
HSBC Bank
Head office’s address: 00 Barangaroo Ave
Contact center: 1-300-555-727
Phone: 1-3-4313-7690
Mail address: Level 36 Tower 1 International Towers Sydney 100 Barangaroo Ave, Sydney, New South Wales, 2000
Web-site: http://www.hsbc.com.au
Financial institution code: HBA
ABN: 48 006 434 162
Macquarie Bank
Head office’s address: 345 Queen Street
Contact center: 1800-442-370
Phone: 61-2-8232-3333
Mail address: GPO Box 2520 Sydney NSW 2001
Web-site: http://www.macquarie.com.au
Swift code: MACQAU2S
Financial institution code: MBL
Stock code: MQG
ABN: 46 008 583 542
BSB: 185-300
NAB
Head office’s address: 800 Bourke Street
Contact center: 13-22-65
Phone: 61-3-8566-7023
Mail address: Level 4, 800 Bourke Street, Docklands, VIC
Web-site: http://www.nab.com.au/
Swift code: NATAAU3303M
Financial institution code: NAB
Stock code: NAB
BSB: 086-027
Westpac Bank
Head office’s address: 275 Kent Street
Contact center: 13-20-32
Phone: 61-2-9155-7700
Mail address: 275 Kent Street, Sydney, NSW
Web-site: https://www.westpac.com.au/
Swift code: WPACAU2S
Financial institution code: WBC
Stock code: WBC
ABN: 33 007 457 141
BSB: 032-063