Private bank status revoked? Forum
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Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
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ggqkhwaofnpoyqpmis
- Posts: 9
- Joined: Wed Sep 02, 2020 4:00 pm
Private bank status revoked?
I was at one of the firms that work with Citi to provide "private bank" accounts to associates. I've recently left for an in house position. Does anyone know whether the private bank status will be revoked as I'm no longer at the firm? I'm not otherwise qualified (i.e. not enough cash in account) for a private bank account. Thx.
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Anonymous User
- Posts: 432547
- Joined: Tue Aug 11, 2009 9:32 am
Re: Private bank status revoked?
No, it won't be revoked (I know). Just curious, what is it that you like about the relationship that you cannot get from other places.
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Anonymous User
- Posts: 432547
- Joined: Tue Aug 11, 2009 9:32 am
Re: Private bank status revoked?
Depends on if your new in-house position also has a relationship with Citi. If it doesn't, they'll either slowly transition you to the retail bank, or you can talk to your banker and see if they'll keep you (especially if you have a healthy balance in their account).
@above: I (not OP) like the no-fee no-minimum accounts, low down-payment no-PMI mortgages, and some little logistical perks like for cash or international travel (I hate dealing with logistics). I don't use their credit cards though, there are just better options.
@above: I (not OP) like the no-fee no-minimum accounts, low down-payment no-PMI mortgages, and some little logistical perks like for cash or international travel (I hate dealing with logistics). I don't use their credit cards though, there are just better options.
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ggqkhwaofnpoyqpmis
- Posts: 9
- Joined: Wed Sep 02, 2020 4:00 pm
Re: Private bank status revoked?
Thank you both for the responses (although they seem to be inconsistent?? 
)
I'd like to keep the status because I plan to get a vacation home/permanent WFH home when all the real estate craziness subsides, and their low down payment/no PMI mortgage seems interesting. I also believe my Citi Prestige card has a lower annual fee (not 100% sure about this one).
)I'd like to keep the status because I plan to get a vacation home/permanent WFH home when all the real estate craziness subsides, and their low down payment/no PMI mortgage seems interesting. I also believe my Citi Prestige card has a lower annual fee (not 100% sure about this one).
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Anonymous User
- Posts: 432547
- Joined: Tue Aug 11, 2009 9:32 am
Re: Private bank status revoked?
I kept my Citi private client status/account after leaving to clerk. I asked my Citi rep about this before leaving and he said the only difference is income/employment verification. If you take out a mortgage with Citi (or do anything else that requires income verification) while you're still with your firm, they just make sure you're on the firm website. If you leave your firm, they do the normal employment checks before they send the loan (i.e. calling HR and requesting income verification).
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AntipodeanPhil
- Posts: 1352
- Joined: Fri Apr 08, 2011 7:02 pm
Re: Private bank status revoked?
I think we all now know why OP is so keen to keep private bank status.
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