Private Banks in Australia
Compare leading private banks and their services in Australia
Market Overview
Market Size
AUD 850 billion
Total private banking assets under management
Regulatory Body
ASIC (Australian Securities and Investments Commission)
Primary financial regulator
Average Management Fee
0.5% - 1.5%
Typical fee range for wealth management
Private Banks in Australia
| Bank | Minimum Investment | Management Fee | Key Services | Heritage | |
|---|---|---|---|---|---|
| $1,000,000 | 0.45% - 1.35% |
| Since 1856 | Get Matched | |
| £1,000,000 | 0.50% - 1.45% |
| Since 1896 | Get Matched | |
| AUD 1,000,000 | 0.55% - 1.25% |
| Since 1969 | Get Matched | |
| NZD 1,000,000 | 0.40% - 1.20% |
| Since 1835 | Get Matched | |
| NZD 1,500,000 | 0.50% - 1.30% |
| Since 1817 | Get Matched | |
| $2,000,000 | 0.50% - 1.50% |
| Since 1862 | Get Matched | |
| AUD 2,000,000 | 0.60% - 1.40% |
| Since 1835 | Get Matched | |
| AUD 2,500,000 | 0.70% - 1.50% |
| Since 1817 | Get Matched | |
| AUD 3,000,000 | 0.65% - 1.35% |
| Since 1858 | Get Matched | |
| $5,000,000 | 0.60% - 1.75% |
| Since 1799 | Get Matched | |
| $5,000,000 | 0.65% - 1.85% |
| Since 1935 | Get Matched | |
| $5,000,000 | 0.60% - 1.75% |
| Since 1865 | Get Matched | |
| AUD 5,000,000 | 0.65% - 1.45% |
| Since 1911 | Get Matched | |
| $10,000,000 | 0.75% - 2.25% |
| Since 1869 | Get Matched |
Requirements and Documentation
Minimum Investment
AUD 1,000,000
Typical minimum investment requirement
Required Documentation
- Driver's License/Passport
- Proof of address
- Source of wealth
- Financial statements
Key Regulations
Corporations Act
Banking Act
Anti-Money Laundering Act
Privacy Act
Frequently Asked Questions
What is the minimum investment for private banking in Australia?
Minimum investments for private banking in Australia typically start from AUD 1,000,000, varying by bank and services required.
How are private banks regulated in Australia?
Private banks in Australia are regulated by ASIC (Australian Securities and Investments Commission) under strict regulatory frameworks ensuring client protection and financial stability.
What are the typical management fees in Australia?
Management fees for private banking in Australia typically range from 0.5% - 1.5%, depending on the bank and portfolio size.
What services do private banks in Australia offer?
Private banks in Australia offer comprehensive wealth management services including investment advisory, estate planning, tax optimization, and family office services.
How do I open a private bank account in Australia?
Opening a private bank account in Australia requires meeting minimum investment thresholds, providing extensive documentation, and undergoing comprehensive due diligence processes.
What are the tax implications of private banking in Australia?
Private banking in Australia involves complex tax considerations including reporting requirements, tax optimization strategies, and compliance with international regulations like CRS and FATCA.
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