7 thoughts on “How to Open a Swiss Bank Account”

  1. I am an American citizen/resident and I had no problem opening a Dynamic Savings Account (currently paying 1.75% interest) via mail with SwissQuote Bank, S.A. earlier this year. I was approved even after the whole Swiss banking scandal became a household topic.

    They only required a notarized copy of my American passport and the completion of a two-page application. No proof of residence or origination of funds were required. Their account setup was fast and simple and they even called me on their dime to see how the account was working for me. Their service has been better than any local bank that I have ever used and I can keep any amount of funds with them as there is no minimum balance, no initial deposit requirement and no maintenance fees associated with this account. As the U.S. economy continues to self-destruct, I feel secure in knowing that I have a legitimate non-U.S. Dollar offshore bank account where I can build my savings privately, securely and confidently.

    There seems to be a popular online myth that SwissQuote requires its clients to "waive bank secrecy" in order to open an account. I know from first-hand experience that this inaccurate and, in fact, SwissQuote provides the same level of banking secrecy that all Swiss banks are required by law to provide according to the Swiss Banking Act of 1934. This misunderstanding apparently comes from an incorrect reading of Section 4 of the SwissQuote EU Tax Information Notice. Note how only those EU clients who expressly request in writing that SwissQuote send tax information to the client's home country on their behalf instead of withholding it anonymously at a potentially higher rate are affected:

    "Swissquote Bank's customers may choose between automatic deduction at source from payments of the affected interest and voluntary declaration of those interest payments. If customers have not expressly chosen declaration, Swissquote Bank will make the deduction from payments of affected interest, and will transfer the deduction to the Federal Tax Administration, which will

    redistribute it to the tax authorities in the customer's country of residence. No information on these customers will be sent to the tax authorities, and banking secrecy will thus be completely preserved…For customers who have expressly opted for declaration by completing the declaration form provided by Swissquote Bank, the bank will declare the interest payments covered by the Agreement to the Federal Tax Administration giving, in particular, the customer's name and address, and his or her account number. The Federal Tax Administration will then send this information to the tax authorities in the customer's country of residence. The customer therefore expressly waives banking secrecy in this particular context."

    I am able to maintain an account in Euros and/or Swiss Francs and I can make purchases/withdraw funds worldwide using their Swiss-issued MasterCard or Visa. This credit card which has an annual fee of CHF100.00 actually acts like a debit card since the "credit limit" on the card is equal to 50% of the account balance. Wiring money to the account is as easy as withdrawing funds since SwissQuote provides its account-holders with its SWIFT Code SWQBCHZZXXX and an account number formatted similarly to the sample IBAN number CH4408781000012345600. Online services such as Montreal-based AlertPay allow users to easily and inexpensively wire money between multiple bank accounts so this eliminates the need for users to pay for exorbitant bank wire fees.

    All in all, I would highly recommend SwissQuote to anyone who is interested in obtaining a Swiss bank account with no upfront cost and without the hassle of paying an online broker hundreds of dollars to setup an account that actually costs nothing except for a little time and effort.

  2. It is better to be proud but to be powerful, because the powerful persons them use fighting and battling, to kill to some body, a proud person them use to lawyer person, to can right to some body powerful with out making fighting and killing many innocent persons, as a like the powerful Swiss bank directors, them use fighting and battling, to can be thief’s, the Swiss people, them going straight to a country, to can assassinate to some body proud owner, for the Swiss people to can be thief, the Swiss people them are nasty powerful people, in the moist there it is the believing that a proud person them must to be more expensive that power, that a proud bank client, he may be, them can right to some body Swiss bank worker and director, as powerfully, with a single fine lawyer, after the proud person he prove, he does a legal owner and client from the Swiss bank, the nasty thief director from the Swiss bank, them can reject that Cain as proud, a lawyer he can sent to a powerfully nasty director for being thief, from some body proud person, it is an adoption of the Swiss system it is not a rule, as suppose to be the Swiss system them are out of communism, them are out of politics, as suppose to be the Swiss bank system. them are a neutral system, to make safe of some bodies legal money, yes the Swiss bank system them are have the rights to make investigation of the legal process, of the some client banked money, if it is the decision from the Swiss bank system, but after that investigation, the Swiss bank system them doesn’t have the right to stole that legal proud money, as by example there it is the believing that many Swiss bank workers, them find that, the money in the Swiss bank from the American business men mr. Howard Hughes, and his son Ludwig he owned a legal clean money, but it is clean only for his son and relatives, but the Swiss workers them want to stole that money to the mr Howard Hughes son, after them find out, it is clean money, them want to stole that money, the Swiss worker them want to say it is them clean money for them also, the Swiss workers them are fighting to many relatives from mr Howard Hughes, to stole, it is the believing that the nasty Swiss bank workers, them want to send to kill to many from the Howard Hughes family, for the Swiss nasty workers to can be thief’s, the international police them must to make notice of that, plus the united nation them must to make notice of the Swiss thief people, for them to make the properly changes, the Swiss nasty bank workers them want to kill any relative, many them are in the puberty and them are in any Cain race, the Swiss bank workers them want and to avoid, to any witness public, of that robbery. It is the believing that the mr Howard Hughes money it can be change from a bank to another, it like from Swiss to Italy or to Jewish bank for better safe and in the most for proud.


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