Where do millionares bank?

[cpals]

Is there a certain bank that the majority of the ultra-wealthy go to? Has special benefits, only for the elite, etc...

Something that just popped in my head today.

 

[miketheidiot]

:roll:

 

[Sheepathon]

Switzerland.

 

[JustAnAverageGuy]

I would assume many banks.

 

[KillyKillall]

That depends...are you seeking a bank and fit this scenario? If so...send me a PM and I'll let you know where to wire the money.

 

[Caesar]

Bank of Nigeria

 

[aplefka]

I'm sure there are banks that are insured over $100,000. Plus, can't you just open another account and that account is insured to $100,000? I suppose it would suck balls to have like 50 accounts at $100,000 but small price to pay for being rich.

 

[cjgallen]

Originally posted by: Sheepathon
Switzerland.

 

[LuckyTaxi]

the ultra rich would not leave all or most of their money in the bank. they put it in mutual funds, real estate, retirement accounts, etc...

 

[DainBramaged]

Originally posted by: Sheepathon
Switzerland.

 

[mugs]

I'm pretty sure they don't keep their money in bank accounts

 

[intogamer]

Originally posted by: DainBramaged

Originally posted by: Sheepathon
Switzerland.

why is sqitzerland the captial of banks?

 

[EyeMWing]

Originally posted by: aplefka
I'm sure there are banks that are insured over $100,000. Plus, can't you just open another account and that account is insured to $100,000? I suppose it would suck balls to have like 50 accounts at $100,000 but small price to pay for being rich.

http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html Read it.

 

Most wealthy people have liquid assets, meaning the money doesn't really exist.

 

[jerryjg]

by" Millionaire", in assume you mean "multimillionaire", cause millionaire isnt a relevant term anymore, since most middle class working people are working to be millionaires( that is toatal assets during their lifetime = 1 million). But actual "millionaires" - upper midle class-are working to have about 1 million dollars liquidible assets( cash, jewels, precious metals,stocks, bonds) in addition to their real propert assets.thats the way i intereprit it in the new economy.

 

[jerryjg]

oh yea....Austria

 

[LuckyTaxi]

Originally posted by: SampSon
Most wealthy people have liquid assets, meaning the money doesn't really exist.

yea im worth $430,000 in real estate but i got nothing in the bank!

 

Originally posted by: lilcam

Originally posted by: SampSon
Most wealthy people have liquid assets, meaning the money doesn't really exist.

yea im worth $430,000 in real estate but i got nothing in the bank!

Most likely the bank holds a lein on the property, you own nothing.

 

[cmv]

Yes. They all put their money in one bank. That way if it fails there they are okay. Wait...

 

[jabamayne]

Most wealthy people private bank with companies like JP Morgan Private Bank, Citigroup Private Bank, and Goldman, Sachs & Co. Bank...

 

[sygyzy]

Originally posted by: SampSon
Most wealthy people have liquid assets, meaning the money doesn't really exist.

That is not what liquid means.

 

Originally posted by: sygyzy

Originally posted by: SampSon
Most wealthy people have liquid assets, meaning the money doesn't really exist.

That is not what liquid means.

Yea I figured I had the wrong terminology.

 

[Koenigsegg]

Under their mattress.

 

[jabamayne]

Originally posted by: cmv
Yes. They all put their money in one bank. That way if it fails there they are okay. Wait...

Banks like Citigroup Private Bank (Citigroup Inc.) are $250,000,000,000 companies with assets close to $1,000,000,000,000 and I highly doubt they will fail...

 

[z0mb13]

Hedge funds