Frequently
Ask Questions to Open Swiss Bank Accounts
Swiss
banks have earned a reputation around the world for providing sophisticated
and discreet banking services. There are about 400 banks in Switzerland.
Some banks specialize in only a few banking services, whereas others
provide a wide range. As in most of continental Europe, individuals
usually buy and sell stocks and bonds through their banks. The Swiss
banks have a long reputation for managing investment portfolios for
their clients, and providing other services such as estate planning,
wealth management, trust companies, etc., for individual customers.
How much does it cost to open an account with you?
Opening a Swiss account with us costs only U$D
149,
now , and it is an one time fee. This includes our intermediation services
No hidden costs!
What bank will the account be opened with?
This is a protected information.
However, we can assure it is one of the major Swiss banks. It is member
of Swiss Banker Association.
Can you describe me briefly the opening procedure?
The procedure is very simple.
1. First you order our services from the order page.
2. After paying our USD 149 (limited time offer) fee
by Bank wire, or Western Union or credit card, you should send an email
confirming the payment and we will send you another e-mail containing
a form that you must compile and send back to us.
3. We will pass this information to the Swiss bank and this is where
our service ENDS. Further communications will occur between you and
the bank only, without our intermediation.
4. After few days (depending on where you live) you will receive an
envelope from the bank containing some forms to compile, the terms and
conditions of your account, and an envelope to send back to the bank
the compiled forms with copy of passport legalized by notary public.
5. When the bank will receive your envelope your new account will be
operative.
The timeframe for all these steps is anywhere from 1 to 2 weeks, depending
on your location. A customer from France wrote us that the Opening Kit
arrived in three days from Switzerland, another customer from India
told us that it took 5 days to reach her location.
Why should I open an account in Switzerland?
Switzerland is a stable, neutral country with centuries of democratic
tradition. Swiss Franc is a currency backed by gold and the most stable
in the world. The banking sector is so regulated that it's almost impossible
to lose money if you put it in Switzerland. The quality of the banking
services is excellent and you can manage your account from the comfort
of your home, from any part of the world.
Will my account be stable? Are the Swiss Banks you are working with
really cooperating in opening accounts for non-Swiss residents?
Sure. First, all the accounts are insured by the Swiss Government. Regarding
working with non-Swiss residents : that's normal routine for Swiss Banks.
They have clients from all over the world.
What is special
about Swiss bank secrecy?
Banks in most countries are prohibited from divulging information about
their clients, and the provisions of the Swiss law follow the same lines.
Swiss law is especially strict on any breech of confidentiality, whether
in banking or in other commerce. The banking act adds a special section
(introduced in 1934, in order to protect accounts of Germans, especially
German Jews, from Nazi confiscation) which makes it a criminal offense,
with the possibility of an individual going to jail, for the bank or
its employee or agent to improperly divulge any confidential information.
These portions of the banking law have been interpreted, both in practice
and by the courts, to make it a serious offense to divulge any information
about a bank customer to a third party, including official requests
of foreign governments, except in some very special and clearly defined
situations. Swiss bank secrecy is reinforced by a constant awareness
of the seriousness of the bank's obligation to maintain confidentiality,
starting with bank employees having to sign the secrecy portion of the
banking act as a condition of employment. Both individuals and the banks
are prosecuted if a lapse is discovered; this keeps awareness of bank
secrecy high and and lapses rare. While this culture of absolute discretion
is integral to the Swiss banks, the branch offices outside of Switzerland
must operate according to the law of the particular jurisdiction, which
may not provide so much protection.
Do I need special documents to open a Swiss bank account?
No. Only an copy of your passport legalized is required. In case of
a business account, the bank may require apostilled Articles of Association
and/or Commercial register extract. It depends on which kind of company
or business do you have. If you want to know exactly which documents
you need for your business account contact us specifying exactly the
typology of your business (Association, LLC, Cooperative etc..)
Are the Bank accounts insured?
Yes, the Bank accounts are fully backed by the Swiss government.
I am from the United States, can I open an account in USD?
Sure! Our accounts have a multicurrency feature. You can have your main
account in USD, EUR, CHF.
Will I be able to do all banking operations?
Yes. All the operation can be done trough an intuitive and complete
online banking interface.
Do I need to come in Switzerland in person to open an account?
No. You can apply online trough this website. There is no need to come
in Switzerland in person.
Can I fax you the necessary documents to open an account?
No. Our is only an introductory service : we introduce you to the bank
and all the correspondence will be between you and the bank. Usually
the opening process is done via snail mail.
Can I have a credit card?
Sure, once your account is opened you can request a credit card.
How much is the minimum deposit for a credit card?
The minimum deposit is decided individually, usually it must be equal
to the credit card monthly credit. So if your credit card has for example
a $5.000monthly spending limit, your minimum balance must be $10.000.
Do I have to pay taxes on the money I deposit/invest in Switzerland?
There are no taxes on the money you invest or deposit in Switzerland.
We are speaking about Swiss taxes only and we advise you to check with
your local fiscal laws to see if you would be liable for taxes in your
country upon accounts held in Switzerland.
How can I withdraw money from my Swiss account?
You can withdraw money from your Swiss account trough a bank transfer
to a bank account in your country or using your Credit Card or exchanging
a check in a local bank or alternatively you can come in Switzerland
and take the money in person.
Who uses Swiss bank accounts?
Consultants, sales representatives, expatriates, businessmen, computer
programmers, Webmasters, Private Investors, Analyst, etc.. People who
benefit from a large financial gain (real estate sale, inheritance,
proceeds of an insurance policy), or who want to protect their estate
in the event of divorce or inheritance, also value Swiss bank accounts.
How can I deposit money in my Swiss account?
You can deposit money in person or trough a bank transfer.
Exactly which currencies can I use from my transactions?
You can use : CHF Swiss Franc, EUR European Euro, USD American Dollar
I heard that Swiss banks need a proof of the economic origin of the
funds. Is that true?
This is true only for very big sums, to prevent money laundering. Usually
banks will require this kind of proof if you will deposit something
like $1,000,000 or more.
Can I cash checks?
Sure, you can cash checks in person or by mail.
Will my account get interest?
Yes, but every currency gets its own interest rate in its sub-account.
What are the "Private
Banks?"
Private banks are those which are not incorporated, and hence the entirety
of their partners' assets are available to meet the liabilities of the
bank. These banks have a very long tradition in Switzerland, dating
back to at least the revocation of the Edict of Nantes (1685). They
are primarily associated with portfolio management for private clients.
Most have become incorporated companies, so the term is rarely strictly
true anymore. The term "private banking" is used more loosely to encompass
all the banking services provided to clients in the area of portfolio
and other wealth management services. These services are directed primarily
at "high net-worth individuals", and there are a number of "private
banks" who refuse any account of less than $ 1 million (or equivalent).
Why
your prices are so low? Usually companies charge from $199 to $1000
for a Swiss account!
Because we don't like to overcharge our customers and we sustain that
everyone has the right to his/her privacy and to secure his/her money.
Swiss accounts are not only for millionaires.
I want to open a Swiss account but I am concerned about my privacy.
If I use your services is my personal data at risk?
Absolutely not! Your privacy is 100% protected in many ways with us!
We act only as an intermediary and our job ends the exact moment we
will pass your information to the bank. From that moment all the communications
and all the correspondence will be between you and the bank. We will
not be informed by the bank about the status of your application, nor
we will be informed about your financial situation or banking data.
Your personal data and your correspondence with us is maintained strictly
confidential .
It's possible that the bank will reject my application?
Yes, the possibility exists but it's very, very remote. Nobody of our
clients was rejected so far, and we opened hundreds of accounts. Usually
a bank rejects an application only if the applicant is an international
criminal , or he/she comes from third-world, "risky" countries like
North Korea or Iraq.
Do you offer a money back guarantee?
Sure. If the bank will reject your application, we will refund your
money entirely.