Priority banking vs. Private banking: What’s the difference?

What's the difference between priority banking and private banking, do you know?
Many aspiring Nomad Capitalists often aren't familiar with what separates one service from the other, and Andrew is here to set the record straight.
Going offshore will require you to look for mass-market retail banking, but we're here to talk about the next level that is particularly valuable for entrepreneurs and that's priority banking.
Andrew talks about advantages of priority banking and why it's a solid choice for businessmen looking to expand offshore.
To find out more about the turning tides of banking, keep watching this video:
• Bank Accounts and Prio...
In general, priority banking ensures you get better service, lower fees, as well as higher interest rates.
What then, are the perks of private banking?
Private banks are handling your money for you, which might be easier, but it gives you less flexibility in your transactions.
To find out the minimums for both types of banking, as well as what might work better for your financial needs, keep watching the video.
What is your choice - priority or private banking? Share your thoughts with us in the comments.
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ABOUT NOMAD CAPITALIST
Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.
Andrew started Nomad Capitalist to help people like you follow his five magic words: "go where you're treated best". He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.
He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.
As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.
Nomad Capitalist's CZcams channel is based on Andrew's vision that focusing on the end result, rather than the latest shiny object, is the best way to actually obtain the benefits of the Nomad Capitalist lifestyle.
About Andrew: www.nomadcapitalist.com/about/
Our website: www.nomadcapitalist.com
Our blog: www.nomadcapitalist.com/blog/
Work with Andrew: www.holanomad.com/
Facebook: / nomadcapitalist
Subscribe: czcams.com/users/subscription_...

[@atulchikodikar1551]

Very Insightful. Clean and clear explanation. Nice video.

[@mengoingabroad8576]

Thanks for a clear and honest exposition!

[@theandrewhenderson]

Thanks for watching.

[@RogueInAsia]

Thanks Andrew for the thorough explanation as always : )

[@theandrewhenderson]

Thanks for watching.

[@nomadcapitalist]

Thanks for the feedback, Walid. :)

[@eccentricity00]

andrew is brilliant

[@87solarsky]

Can you recommend free priority / private banking options, or are they ALL and entirely without exception fee paying?

[@Holdeenio]

Very helpful Andrew, thank you. I'm from the UK 🇬🇧 and would like to understand more from your experience, as to why it wouldn't be advantageous to also open credit cards with these banks internationally? I have watched quite a few of your videos lately and understand your strategy is to buy assets in cash and that's great, but as long as it's not in the USA 🇺🇸, surely it wouldn't hurt most to build credit internationally? Especially if they have different strategies to you, or wish to implement more aggressive investment opportunities.
Many thanks. 👍

[@hotdrj]

Priority banking: You can meet with someone, you get better interest, there are no call centers... so Priority banking is what everyone got in the 1980's?

[@matbiatch]

do they do mass-market retail banking in Singapore?

[@safirahmed]

It may bd better to avoid countries with issues paying standard bank account customers.

[@jerryjohnson8566]

I’m 80 and have few memo that problems under stress.

[@NitayNostrasifu]

Was just going for HSBC Premier, what do you recommend?

[@theandrewhenderson]

Don't do it.

[@MrYogidoo]

Nordnet or Avanza ?

[@ScottAshmead]

So my take away from this is that if you are American and don't have 100k to start a priority bank account, then you are better starting it off in America until you can get to that level to move your company over to another country. Did I misunderstand?

[@theandrewhenderson]

There are still a decent number of mass market banks that accept US citizens.

[@ScottAshmead]

Thanks for the response and clarification Andrew.

[@gracegrace3288]

Are you single?