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Credit Union Swiss bank accounts provide strict privacy, total confidentiality and are also tax-free.

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Merchant Credit Guide Co With a Swiss bank account you can also earn interest in the currency you wish to hold your account in (USD, CHF and EUR). You can also receive an international credit card and a numbered account if you choose.

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Apply Online For Credit Card Typical Swiss bank account clients

The same sentiment is shared by the Swiss National Bank who raised interest rates by 25bp yesterday, bringing the mid point of their target range to 2.5 percent.

By Card Credit Debt Debt Guide Typical Swiss bank account clients come from all walks of life, from international consultants and sales representatives to expatriates and computer programmers. In fact, anyone seeking to gain financially (possibly through trading in the capital markets, the sale of real estate, inheritance, or an insurance policy), or who wants to protect their estate in the event of divorce or inheritance, can take advantage of the benefits of Swiss banking.

Bank references can also be useful. As part of the account opening process, the credit application form includes a reminder that bank references may be requested from time to time. It can be informative to obtain a credit reference on a new customer when starting a trading relationship. There will be a fee to pay and banks tend to stick to standard phrases, so you might need to read within the lines for a guarded warning. Remember the bank's loyalty is to its customer not the enquirer.

Credit Repair Does it cost anything to open my Swiss bank account?

Active Credit Credit Guide Opening a Swiss bank account is often free of charge.

Credit Score Which documents do I need to open a Swiss account?

Bad Car Credit Guide Loan Opening a Swiss bank account has never been easier.

Bad Credit Loan Before you arrive in Switzerland, you will be asked you to bring with you some of the following documents:

Passport

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You might also be asked to send an authenticated copy of your passport's photo page, showing your passport number, before you arrive.

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These documents show what you do for a living, for example a copy of a current bank statement, contract of employment or tax return. The exact documents required depend on the nature of your professional life.

Business Credit Card
Origin of deposits

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These documents show the financial origin of your deposit. For example if you are depositing funds from the sale of a house, you might be asked to send proof of the sale, a copy of the real estate agent's listing, or similar.

Credit Card Application
Personal Information

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You are usually requested to provide only basic personal information.

Credit Card Offer This information is required in compliance with Swiss anti-money-laundering laws and to understand your banking needs. All your information should be held in strict confidence.

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Swiss bank accounts for US residents

Bad Credit If you live in the US you can still open a Swiss bank account. However, there are some considerations.

Collection Collection Complete You should not invest in any US securities from your Swiss bank account if you want to keep this account private. Also, you cannot invest in most investment funds such as mutual funds.

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Complete Credit Guide Higher To obtain a credit card for your Swiss bank account, you will be required to make a security deposit. Depending on the bank you choose, this deposit can be as much as 1.5 to 2 times your monthly credit limit. For example, if you have a maximum monthly limit of USD 5,000, you will be asked to deposit anything from USD 7,500 to USD 10,000. This security is held in another account at the bank and invested in a fund. Your deposit will be returned to you when you cancel your credit card and pay any outstanding bills.

Chase Credit Card Question 1: Can I get a credit card without a security deposit?

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No. No bank will agree to issue a card without a security deposit.

Bad Credit Home Loan Question 2: Can the security deposit be used to pay credit card bills?

Bad Credit Personal Loan No. Bills are sent to you, and you must pay them separately. If this is inconvenient, you can always authorise your bank to debit the amount from your account and they will hold the bill until the next time you visit the branch.

Credit Score Guide In the next installment, we deal with making deposits to and withdrawals from your Swiss bank account.

Online Credit Report Fiorenzo Fontana

Credit Guide online trading, currency trading, financial service

Bad Credit Debt Consolidation About the Author

Credit Guide Process Fiorenzo has held several senior positions in the financial services industry as a trader and analyst at UBS. Fiorenzo has built a career spanning more than 25 years in investment banking and capital markets trading. Mr. Fontana is a citizen and resident of Switzerland and a graduate of the Chiasso Business School, Switzerland.

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