How to open a Swiss bank account

Opening a Swiss bank account in the internet age is a very easy thing to do. The main reason for opening a Swiss bank account is for the extreme security and privacy Swiss Banks uphold thanks to Swiss laws that have been in effect for over 75 years.

Contrary to popular belief, opening a Swiss bank account does not always mean that you are a tax evader, criminal, or money launderer. Swiss bank accounts can protect one's money from prying relatives, nasty divorce settlements, lawsuits, and more. Some people just want a Swiss bank account because of the allure and mystery often attached to Swiss bank accounts, but whatever your reasons it is relatively easy to find a bank and open an account.

You'll want to start your search online and be sure to look for trusted and well known Swiss banks. UBS and Credit Suisse are two of the largest Swiss banks and have sprawling international networks available. Many Swiss banks like most banks these days will allow you to set up and open an account online securely. The initial deposits may be higher for some accounts and some accounts may come with annual fees. Obviously you'll need to have an existing account through which to transfer money to your new Swiss bank account with.

10 years ago opening a Swiss bank account may have included visiting the bank of your choice in person, paying hundreds of dollars a year in fees, and putting down a few thousand dollars as an initial deposit. As the internet has allowed online banking to explode, you can now open a bank account at thousands of banks around the world wherever you are. Offshore bank accounts are available to anyone with money that needs a place to be kept, Swiss banks have a lot of competition these days.

Sticking to trusted and insured banks is always the way to go. While most banks today have secure online banking and security features in place, a Swiss bank account comes built in with some of the strictest privacy laws in the world.

Never wire money or deposit money to any site or bank without first verifying that the bank or site is secure and licensed to do banking. Making sure deposits are insured is also a good idea and be mindful that not all banks may be insured or may have deposit insurance limits. Read reviews and ask questions about the Swiss bank you choose before providing any personal information. Once you've found a good Swiss bank and open an account you'll enjoy financial privacy at a level found only in Switzerland.