Banks have long competed for wealthy clients by offering “premier” or “private” services. Wells Fargo is no exception, advertising its Premier Banking program as an exclusive tier of financial service. The pitch is simple: maintain a large balance, and in exchange, you’ll receive dedicated advisors, waived fees, and priority access. For retirees or households managing large savings, the idea sounds like VIP treatment. But the real question is this: who benefits more—the customer, or the bank? A closer look reveals that the perks often come with hidden trade-offs.
