Best UK bank accounts for millionaires

If you’re fortunate enough to have private wealth exceeding £1 million, you’ll need to make sure you manage your money effectively.

You’ll need an account that makes your money go further. This might be through interest on your balance, or access to wealth management and investment services.

You might also want a bank that gives you a dedicated relationship manager, or that helps you with trusted financial advice. In some cases, you can leverage your wealth to unlock extra perks only available to high-net-worth customers.

In this guide, we’ll run through some of the best UK bank accounts for millionaires. We’ll primarily be focusing on private banking solutions.

Also, if you’re looking for a reliable and cost-effective way to manage large sums across 40+ currencies, consider checking out the Wise account from the money services provider Wise. It’s not a bank account but offers some similar features, and your money is safeguarded.

With low, transparent fees*, great mid-market exchange rates, and secure, trackable transfers, Wise makes international money transfers and currency conversions simple and stress-free. Plus, you’ll receive dedicated support when sending large amount transfers.

Learn more about the Wise account

6 of the best UK bank accounts for millionaires

Now, let’s dive straight in with an at-a-glance comparison with some of the best UK bank accounts for millionaires:

Coutts Private Banking Current Account

Coutts & Co is one of the UK’s most famous private banks, and one of the oldest banks in the world. Today, it’s part of the NatWest Group’s wealth management division.

Coutts offers private banking, commercial banking and wealth management solutions.

Its Private Banking Current Account offers the following features and services:²

• Online and mobile banking through the Coutts Mobile app
• 10p donated by the bank to the Coutts Charitable Foundation every time you make a transaction
• Automatic sweep feature, which lets you manage balances between your Coutts Current Account and linked savings accounts.
• Overdraft facility
• Available in all major currencies, with linked debit cards for spending in multiple currencies.
• International payments.

The account comes with a £900 a year fee,² and is only available to those who meet Coutts eligibility criteria. You’ll need to either invest or borrow at least £1m with the bank, or deposit £3m into your account.¹

Your balance won’t earn interest in this account, but Coutts & Co does have a number of savings accounts that do pay interest.

HSBC Private Banking Account

The HSBC Private Banking Account is offered by the private banking arm of UK and international banking giant HSBC.

It comes with a number of features and perks, including:³

• Dedicated Relationship Manager
• Access to specialist financial advice through HSBC Private Banking Advisory Services
• 24/7 lifestyle concierge services provided by the Ten Group
• Worldwide travel insurance for you and your family
• Online and mobile banking
• Access to a Global Money Account and debit card
• International payments.

Best of all, there are no annual fees³ - however, fees will apply for some services and transactions (for example, international payments).

You won’t earn interest on your balance with this account, but HSBC does have many interest-paying savings accounts available to private banking customers.

You’ll be eligible for this account if you have savings and/or investments of at least £1.5 million with HSBC in the UK.³

C Hoare & Co Current Account

One of the oldest private banks in the UK, C Hoare & Co is owned by the Hoare family and has been a family-owned bank since it was founded in 1672.

Its personal Current Account offers the following features:

• Available in multiple currencies
• Plant-based debit cards
• Online and mobile banking
• Dedicated relationship manager
• In-credit interest of 0.50% (from April 2025)⁹
• International payments.

To hold a personal current account at C Hoare & Co, there’s a £50 monthly maintenance charge. However, this is waived for customers under 30 years old.⁵

You’ll need to meet high eligibility criteria to open this account, depositing at least £3m and investing at least £1m with the bank.⁴

Barclays Wealth Current Account

Part of the wealth management offering from major UK bank Barclays, the Barclays Wealth Current Account is designed for straightforward day-to-day banking.

Features include:⁶

• Available in multiple currencies
• 24/7 online banking, offering instant visibility across all wealth management products
• Arranged overdrafts
• Wealth debit card (available with GBP accounts) offering higher withdrawal limits of £2,000 a day
• Auto-sweep facility, which automatically moves surplus funds into interest-paying current accounts
• International payments.

The account doesn’t pay any in-credit interest, although Barclays has many savings accounts that do. It has no monthly or annual fee, and is available to applicants who have at least £500,000 in investable assets.⁶

If you’re looking for something a little more sophisticated, you can also contact the Barclays Private Banking team to find out about other accounts for high-net-worth individuals.

Club Lloyds Private Banking Current Account

Lloyds Private Banking is a subsidiary of the Lloyds Banking Group, one of the UK’s major financial services groups.

Its Club Lloyds Private Banking Current Account offers the following features:⁷

• In-credit interest of 1.50% AER on balances up to £3,999.99, and 3% AER on balances between £4,000 and £5,000
• Private Banking debit card - with no fees in the UK or abroad
• Personal arranged overdraft
• Online and mobile banking, plus access to the Lloyds Private Banking Service Centre
• One of four Lifestyle Benefits a year - choose from a Disney+ subscription, digital Coffee Club and Gourmet Society membership, cinema tickets or a magazine subscription.
• Access to exclusive products, enhanced rates and Specialist Lending team
• International payments.

As a Club Lloyds product, this account normally has a fee of £3 a month (increasing to £5 a month from 2nd June 2025). But this is waived for private banking customers, so there’s no account maintenance fee to pay.⁷

You’ll be eligible for this account if you have at least £250,000 in savings or investments or have a mortgage of at least £750,000 with Lloyds.⁷

Santander Private Current Account

Offered by UK bank Santander, part of the Spanish-owned Santander Group, the Santander Private Current Account offers the following features:⁸

• Dedicated Private Banker
• Access to enhanced savings rates and preferential benefits
• Premium Debit Card, with no fees in or outside of the UK
• In-credit interest of 3% AER on balances up to £25,000
• Access to global currency accounts
• 1% cashback on selected household bills, supermarket spending and day-to-day-travel
• Access to further cashback and discounts through Santander Boosts
• International payments
• Online and mobile banking, plus access to 10,000 branches in 11 countries.

The account comes with a £5/month fee,⁸ and you’ll need to meet certain eligibility criteria.

You must either have savings or investments over £500,000, or a gross annual income of over £250,000. Plus, pay in at least £1,500 a month and have two or more active Direct Debits.⁸

Wise - a global, low-fee alternative to private banking

Not quite ready for private banking, don’t meet the eligibility requirements, or simply looking for a cost-effective way to manage your money across multiple currencies? Don’t worry, as there are other solutions out there.

Open a Wise account and you can manage your money in 40+ currencies for low, transparent fees* and mid-market exchange rates. It's not a bank account but offers some similar features and your money is safeguarded.

Sign up with Wise for free 🚀

**Capital at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

Sources used:

Sources last checked on date: 18-Mar-2025