If the Duke and Duchess of Sussex are going to spend a considerable amount of time in England, there are certain practical matters that must be addressed.
Where will the Sussex family live? Where will Archie and Lilibet go to school? Who will manage security? And, almost as intriguing, where will Meghan keep her English money?
Let us be clear: we have absolutely no idea where Meghan and Harry currently bank. Nor should we. Banking arrangements are private, particularly when the clients happen to be two of the most famous people in the world.
But Meghan is not going to be standing in the queue at a suburban high-street branch waiting to discuss an international transfer with the next available cashier.
The Duchess requires something more discreet, more personal and considerably more bougie.
Fortunately, England has several banks that have been looking after aristocrats, entrepreneurs, landowners, royal relations and fabulously wealthy eccentrics for centuries.
COUTTS: THE OBVIOUS ROYAL CHOICE
Coutts is probably the first name that comes to mind.
Founded in 1692, it has served noble families, industrialists, media magnates and internationally based clients with strong connections to Britain. Today, joining generally requires depositing or investing at least £3 million—or borrowing the same amount—within three months.
This is not a bank that attempts to entice customers with a free toaster.
Coutts offers dedicated private bankers, wealth management and the sort of highly personalized assistance required by people whose financial lives stretch across several countries, properties and business entities.
It also has precisely the right address: 440 Strand, London.
For Harry, Coutts would represent continuity and familiarity. For Meghan, however, it could offer something slightly different: access to a very old British institution without requiring her to enter a palace, consult a courtier or request permission from anyone wearing a ceremonial sash.
She would be participating in the establishment—but strictly on commercial terms.
Very Meghan.
C. HOARE & CO.: THE DISCREETLY ARISTOCRATIC OPTION
Then there is C. Hoare & Co., founded in 1672 and owned by the same family for twelve generations. It is Britain’s oldest privately owned bank and has counted Jane Austen, Lord Byron and John Dryden among its historic customers.
Even its beginnings are impossibly atmospheric. Founder Richard Hoare began safeguarding gold and valuables under the sign of the Golden Bottle before moving the business to Fleet Street in 1690.
C. Hoare & Co. is less immediately recognizable than Coutts—and that may be part of its appeal.
This is quiet wealth banking. Old-library, inherited-estate, handwritten-note-from-your-private-banker banking. The bank offers current and deposit accounts, lending, foreign exchange and philanthropic services, with considerable emphasis on personal relationships and individually tailored arrangements.
It also has an interesting alignment with Meghan’s public interests. Philanthropy is embedded in the bank’s identity, and its partners donate a portion of annual profits to charitable causes.
C. Hoare & Co. would not scream royal. It would whisper family office.
WEATHERBYS: THE ENGLISH-COUNTRYSIDE CHOICE
If Meghan truly intends to embrace English country life, Weatherbys may be the most aesthetically satisfying option.
The Weatherby family’s story began in 1770, when James Weatherby became secretary to the Jockey Club. The organization went on to become deeply entwined with British horse racing and the administration of thoroughbred bloodlines. Today, the family-owned group includes both a private bank and a specialist racing bank.
Could there be a more perfect bank for a duchess arriving in the countryside in a Range Rover, wearing a beautifully battered Barbour jacket, with polo ponies somewhere in the extended family arrangements?
Weatherbys Private Bank provides everyday banking, foreign exchange, lending, deposits, tax and investment advice, with every client assigned a named private banker and assistant.
It feels less palace and more paddock.
One can practically imagine the Weatherbys card resting beside Meghan’s keys as she stops at Daylesford for flowers, sourdough and an exceedingly expensive candle.
SHE MAY NEED MORE THAN ONE
Of course, the most realistic answer is that the Sussexes would use several financial institutions.
Their lives span Britain and the United States. Meghan is an American citizen with businesses and commercial interests, while Harry is a British prince with longstanding connections and obligations in the United Kingdom. Any English banking arrangement would have to accommodate international transfers, multiple currencies, investments, property expenses and American tax-reporting requirements. UK financial institutions must identify and report relevant American account holders under FATCA arrangements.
This would not simply be a matter of opening a little account for the electricity bill at the country house.
Still, if we are selecting on atmosphere alone, the choices are irresistible.
Coutts for the royal heritage.
C. Hoare & Co. for extraordinary discretion.
Weatherbys for country estates, horses and full English-aristocrat energy.
And perhaps an ordinary contactless account for those emergency moments when Meghan needs to buy a pair of Wellington boots, two hot chocolates and a last-minute school costume without telephoning her private banker.
Even a duchess occasionally requires Apple Pay.
photo by ChatGPT
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