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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.

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.

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.

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 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).

ggqkhwaofnpoyqpmis wrote: ↑

Tue Jun 01, 2021 2:04 pm

my Citi Prestige card

I think we all now know why OP is so keen to keep private bank status.