Opening a Swiss Bank Account

The romance of opening a Swiss bank account has been made legendary by its perception in the media and in Hollywood. When we watch the movies, occasionally someone, such as a professional thief, will have a Swiss bank account because it is a safe way to keep their money hidden from the rest of the world. Knowing this, most of us don’t realize that opening a Swiss bank account is not just reserved for people who have something to hide. All can benefit from opening a Swiss bank account, not just the wealthy or the dishonest.

So how do you go about opening a Swiss bank account? Don’t let the fact that the bank is in a foreign country discourage you. Most Swiss banks actually welcome foreign bankers and the regulations for who can have a bank account in Switzerland are not all that strict. Knowing that, it helps to understand that there is a serious asset to having a bank account in Switzerland. They have strict laws in place that prevent multiple people from accessing your accounts. That makes Swiss bank accounts extra private.

The first thing you need to do when opening a Swiss bank account is to locate the bank that you would like to do business with and found out what you need to do in order to have an account with them. Banks to check include The Swiss Credit Bank (Zurich), The Union Bank of Switzerland, The Bank Leu (AG) (Zurich), The Swiss Bank Corporation (Basel), and The Swiss Volksbank (Bern). It is possible to go about opening a Swiss bank account by mail. However, this would mean that you may need to send some money or a check over the mail and that isn’t always reliable. To initially open the account, it is better to show up at the bank in person, especially if your initial deposit is rather large.

Swiss bank accounts are desirable for not only the wealthy, but for everyone, especially if they are concerned with privacy. Before starting the account, check into the regulations and rules to make sure you are completing the process correctly. When it comes to opening a Swiss bank account, it is best to do it in person if it is for large amounts.