Got offered the opportunity to open an account in Citi Private Bank - I guess they have a special group for poor lawyers. Has anyone opened one of these before? I do not even come close to the asset requirements I see online. But I looked at the fees they sent and they don't even reimburse for things like ATM fees, but if I open a regular account with 50k, I would get those reimbursed, so curious about what kinds of benefits they offer that would make me want to join.

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$50k to get ATM fees reimbursed? You’re right to ask because if they’re just offering a bank account, that’s ludicrous. They better be offering something else like financial planning, investment management, estate planning, etc. Otherwise, LOL.

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If you want a mortgage, being a Citi PB client will be helpful in getting a good rate, at least when rates were in the 4-5% range, which is when we bought our first “big house.”

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Citi PB has a $25M minimum and they still don't waive ATM fees?

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Yeah, I opened up a CPC account a while back to get the JPM reserve card :). At my old firm there was a Chase branch in the lobby and one of the bankers there would open those accounts for anyone that wanted them, though I thought I remember the min was 100k, but can't really remember. But my account was closed a little while later since I never put in the minimum. Still have the reserve though :).

We got better refinance rates through Citi Private Bank (and had to open a bank account to get the rate). We don’t use it as our primary though, since frankly the bank account perks were not worth it.

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No, the $50k is to get ATM fees reimbursed in their regular bank, like if I just walked into a branch and opened up an account. This account that they're "offering" me doesn't seem to have any ATM fee reimbursements, regardless of what you have in the account.

I have other bank accounts that reimburse ATM fees with no minimum balance requirement (and until I got this "offer" I kind of thought that was pretty standard now-a-days).

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