If you use the Child & Co sort code you get the fancy card and chequebook, but no the Private Banking service
You have to physically go into their branch on Fleet Street to open an account with them properly
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Ah, I see. It’s interesting that they’re they’re considered to be the bank of choice within legal circles.
Well I certainly have the diluted version.
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I’m pretty sure it’s due to their proximity to legal firms and the fact that private banking is really one of those services which is to save you time, because that’s what you’re short of
It seems from some forums though that all these private banks have really no fixed criteria, it’s all about relationship
For instance the CEO of Coutts said that he would sooner take an entrepreneur with 500k from his first company sale, with great prospects, before someone with a dwindling inherited wealth
Meanwhile C Hoare & Co I hear you need two people who already have em established relationship, but it seems they actively hunt customers at mixers too and allow the filthy rich people to give them a call, they really don’t care about how many people recommend you because they want to speak to you before offering an account. They need to know you’re a good fit.
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That’s right - Adam & Company is another brand under the RBS umbrella, based in Scotland, which is run independently too.
As @Recchan says of Child & Co, the legal connection is due to their proximity, especially to prominent Inns of Court, so they seem to be well-used by barristers. That creates a network effect which is probably part of the reason they also have a large customer base in the larger legal field.
A Child & Co private banking account would be more akin to Coutts than RBS, the personal version we have is just for fun really.
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Yep @Seb i see child’s and co as well as Coutts a lot whilst paying counsel fees. Even had one with a monzo account .
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Now that’s a hell of a contrast 
Not sure I’d want large sums of money flowing through a Monzo account…
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I also spotted a barrister with a Monzo account in the early days, in about 2017!
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Yeah I think to sum it up, RBS aren’t stupid.
They can offer a lesser service with RBS Private Banking because you can sign up for less.
Coutts, Child & Co, Drummonds etc, they’ve been running rich families for over a century now and pass down accounts and the people don’t leave because of that special relationship
You don’t get away with standardised service. They will bend over backwards.
I think I remember reading about a Private Banker who’s client forgot his wallet and it was still in London, so they withdrew some cash and took it to him to avoid causing their client hassle (can’t remember what bank)
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If you’re a lawyer I suppose you’d just sue Monzo 
no hassle
The monzo account I saw was recently but it’s interesting to see the accounts they use.
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It wasn’t Robert Rinder you were paying by any chance, was it? I feel like the hot coral would suit him 
I’ve relocated the RBS conversations to an umbrella thread, leaving this one to concentrate on Private Banking.