Have you ever wondered how to open a Swiss bank account? Intimidated by the thought of having to navigate the system of tax havens and banking regulations in a different language? Don’t let the Alpine vistas of Switzerland shelter you from the realities of banking on the other side. Here is the definitive guide to opening a Swiss Bank Account.
Contents
The Requirements
The “Swiss Rout” of successful banking abroad is not for the faint-hearted! To open a Swiss bank account, you would have to take the following steps:
Provide Credentials Proving Your Identity
You must prove your identity by providing the official documentation such as a passport and utilities/cable bill. You might also have to provide proof of your residency or tax status. It’s no wonder that many bankers in Switzerland are very finicky about who they accept as customers!
Do Your Research
You must research and select the type of bank account that will suit your needs the most, and decide on which Swiss bank you will be using to open and manage the account. It might be helpful to speak to a qualified financial advisor beforehand.
Gather References
It’s standard practice in Switzerland for the bank to require two or three character references before approving a banking application. This process is usually done by the bank but may sometimes require an in-person visit to the bank’s offices.
Your Application Process
Once you’ve got all the documentations ready, you can start the application process. All the procedures will take a few weeks. The bank, typically, would start its check with your identity documents, obtain the necessary references and analyze the source and origin of the deposited funds. After passing all these steps, your application would be approved and you will be able to open your Swiss Bank Account.
It’s worth trying the application process of a Swiss bank account for the sake of having a Swiss bank behind you- especially if you’re looking to save for a special event such as retirement or a holiday. Plus, the Swiss bank can provide you with many useful services such as currency exchange and additional accounts.
Opening a Swiss Bank Account can be a difficult process but it’s worth the effort in the end. With diligence and dedication, you can take advantage of all the benefits that come with banking in Switzerland. Keep in mind that the documents and references required are essential to get the approval from the Swiss bank. After your application is approved, you’re ready to start your banking activities with your Swiss account!
And there you have it – the essentials of opening up a Swiss Bank Account. You’ll be sure to “Swiss” it in no time!