What is Private Banking? How to do it

It is not allowed to open in China at this time.

Private Banking. However, individuals are allowed to take a stake in the bank, but not to have a controlling stake.

Banking.

China Merchants Bank's "private bank card" is a debit card issued to customers who meet the standards of China Merchants Bank's private bank card, and is an ultra-high-end brand in the field of China Merchants Bank's debit card.

Become a VIP customer of China Merchants Bank's private bank card to demonstrate your distinguished status

VIP check-in service worldwide.

Exclusive access to health and medical services.

Golf driving range services.

High-end art appreciation.

Global Connected Banking.

Private banking investment advisory services.

Exclusive service**.

If you have a deposit of more than 5 million in the Bank of China, you can open a private bank.

At present, there are no private banks in China.

To open a private banking service, a client must have at least US$1 million in liquid assets, while in general, clients must deposit between US$2 million and US$5 million. Many billionaires with tens or even hundreds of millions of dollars often need to use more than 1 private banking service.

Private banking targets private customers who have wealthy assets or high incomes"Private banks have a high bar of entry, and their customers are not general public customers, but wealthy people in society, or high net worth customers.

The financial assets of private banking customers are generally more than US$1 million, which is much higher than the threshold of VIP wealth management business of foreign banks.

Private banking services often combine a variety of financial services such as trust, investment, banking, tax advisory, etc. The average annual profit margin of this service can reach 35%, which is much higher than that of other financial services.

In 2008, the Bank's private banking became the first private banking institution in China to be licensed by the China Banking Regulatory Commission (CBRC). At present, it has set up more than 400 private banking service institutions in China, established service networks and service teams in 21 overseas countries and regions, basically formed a global service network covering Asia, Europe, North and South America, Australia and New Zealand, and provided eight systems, including asset management, alternative investment, discretionary mandate, consulting, financial management, cross-border finance, wealth inheritance and value-added services. Customers with financial assets equivalent to more than RMB 8 million (inclusive) in our bank can sign up as private banking customers, please contact the Private Banking Service Center for details.