just been reading about what banks do the wealthy use and honestly it's pretty different from what regular people deal with. like, if you've got serious money, you're not just opening a random checking account. you're looking at private banking divisions that actually have your back with dedicated advisors and all that.

so apparently the big move for millionaires is getting into private banking. J.P. Morgan Private Bank seems to be the go-to for a lot of ultra-wealthy people - they get you connected with a whole team of strategists and advisors, plus access to investments you won't find anywhere else. kind of a concierge service vibe but for your money.

Bank of America's private side requires a $3 million minimum but throws in stuff like a private client manager and trust services. then there's Citi Private Bank which is more global-focused and needs $5 million minimum. apparently you get perks like aircraft financing and alternative investments with that one.

what's interesting is Chase Private Client is way more accessible - only $150,000 minimum if you want to avoid fees. so if you're a high earner but not quite ultra-wealthy yet, that might be the entry point. unlimited ATM refunds and no wire fees are solid perks.

the thing is, what banks do the wealthy use really comes down to what you need. some want global reach, others want that intimate relationship feel. the article mentions smaller regional banks are actually stepping up their game too, offering private banking services without the massive minimums.

kind of makes sense - if you're managing real wealth, you want someone who actually knows your situation and isn't just treating you like account number 47382. that personal touch seems to be what separates the good private banks from the rest. worth exploring if you're at that level, i guess.