RBC Private Banking (2024)

FAQs

How do I qualify for private banking in RBC? ›

RBC Private Banking clients are typically business owners, entrepreneurs, wealthy families, corporate executives or other professionals with a minimum of $1 million in investable assets or an overall net worth of $3 million.

Grow Your Wealth with Confidence

Full Rebate of RBC Private Banking Package Monthly Fee: The standard $125 RBC Private Banking monthly fee will be reimbursed each month. Note: In order to qualify for the standard monthly fee rebate on your RBC Private Banking package, you must also hold an eligible RBC credit card ³.

Having at least $250,000 in investable assets is the minimum you'll need to qualify for private banking. But even if you have that kind of money, this service may not be right for you.

The estimated total pay range for a Private Banker at RBC is $61K–$189K per year, which includes base salary and additional pay.

Private bankers are highly skilled in areas such as tax, trusts and estate planning. Working closely with private bankers, they could provide a roadmap to help you achieve your long-term goals and navigate complex areas.

Annual earnings

If your salary is R600 000 or more a year, before bonus or incentives, you're welcome to apply for Private Banking from Investec.

JP Morgan private bank minimum requirement is $10 million. Chase private bank minimum requirement is an average beginning day balance of $150,000 or more. Morgan Stanley private bank minimum requirement does not exist.

“Many millionaires opt for private banking services that provide personalized attention and a dedicated relationship manager. Wealth management accounts may include a suite of financial services such as investment management, estate planning and tax advisory,” she added.

In Canada, RBC was recognized as having the "Best Private Banking Services Overall" for the fourth consecutive year, winning the number one ranking in 21 out of 34 categories including Best Local Bank, Services for the High Net Worth (US$ 1M to US$ 10M), Relationship Management, Privacy and Security, Lending/Financing ...

How much do RBC employees get paid? ›

The average RBC salary ranges from approximately $44,243 per year for Personal Banker to $131,777 per year for Director of Product Management. Average RBC hourly pay ranges from approximately $17.82 per hour for Conseiller(e) Clientèle to $79.74 per hour for Senior Product Designer.

Private bankers earn huge incomes managing the finances of high-net-worth individuals (HNWI), but with reasonable hours and less stress. Their clients typically boast a net worth of seven figures or more.

Generally, “clients need to have a substantial amount of investable assets, typically in the millions, to qualify for private banking services,” Collins said. To meet the asset requirement, the bank may count your checking and savings accounts along with investments and retirement funds.

RBC VIP Banking. An all-inclusive package designed to simplify your banking including unlimited transactions, credit card rebates, unlimited debits at other bank ATMs, and much more. Monthly Fee: $30.00.

To help us put you in touch with the right private banker, can you confirm if are you currently residing in the UK? Clients are required to maintain at least £1m in investments or borrowing (mortgage), or £3m in deposits.

Private banking minimum requirements are generally around $250,000 in investable assets, though some banks will set the bar higher than others. Let's take a look at some examples: Bank of America private bank minimum requirement is $10 million.