Last Updated: 04/18/2025
Northern Trust Private Banking Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.05%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $100
Minimum Balance to Earn APY
$1
Northern Trust Private Banking Account Review
Northern Trust Private Banking Account is offered by The Northern Trust Company, a bank founded in 1889 and based in Chicago, IL. Northern Trust Private banking are available in 18 states and Washington, DC.
Are savings accounts from The Northern Trust Company federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Does The Northern Trust Company offer a signup bonus?
Northern Trust Private Banking Account doesn't offer a signup bonus.
What is the minimum initial balance for Northern Trust Private Banking Account?
The minimum initial balance to open a Northern Trust Private Banking Account is $100.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Combined Balance to Avoid Monthly Maintenance Fee | Starting at $1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does The Northern Trust Company offer?
Northern Trust Private Banking Account offers an APY of 0.05% (APY stands for annual percentage yield, rates may change).
What features and perks does Northern Trust Private Banking Account offer?
This account includes the following features:
- Fraud monitoring - Northern Trust Private Banking Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
- Free Bill Pay - Bill Pay allows you to receive ebills directly to your account and pay them easily from your account.
- Nationwide ATM network - Withdraw money and check your balance from wherever you are.
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What fees does Northern Trust Private Banking Account charge?
This account charges a monthly maintenance fee of $1. You can also waive the fee by keeping a combined balance of $1.
- Outgoing domestic bank transfers come with a $1 fee.
- Incoming domestic bank transfers come with a $1 fee.
- Outoing international bank transfers come with a $1 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
- Incoming international bank transfers come with a $1 fee.
- Northern Trust Private Banking Account charges a $1 fee for an early account closure. Contact Northern Trust Private Banking Account for more details on what is considered an early closure.
How can I open a Northern Trust Private Banking Account?
Follow these simple steps to open a Northern Trust Private Banking Account:- Visit the Northern Trust Private Banking Account website.
- Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
- Check the information is accurate and submit your application.
- Make an initial deposit of at least $100.
How can I close a Northern Trust Private Banking Account?
Follow these simple steps to close a Northern Trust Private Banking Account:- Visit the Northern Trust Private Banking Account website.
- Cancel or transfer any automatic payments and recurring transactions.
- Request the closure of the account and ask for a confirmation letter.
- Withdraw the balance in your Northern Trust Private Banking Account.
- Wait for your closing statement to arrive in the mail.
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