How does a Swiss Bank account work?
A non-Swiss national must be at least 18 years of age to open an account in a Swiss bank. The application can be made by mail or in person. Usually, there is no minimum balance required to open a Swiss bank account. However, once the account holder starts making transactions, it becomes mandatory to maintain a minimum balance. This amount can differ from bank to bank and varies for different types of accounts. Account holders also have the facility to withdraw money in any currency. Switzerland’s [ Images ] Anti-Money Laundering law requires a number of certified documents and a proof of income source. A Swiss bank account can be closed at any time without any restrictions or fee. What are the advantages of a Swiss bank account? Here are some of the advantages of Swiss bank accounts: Privacy – Swiss bank accounts offer privacy akin to doctor/patient confidentiality or client/attorney confidentiality. Swiss law forbids bankers to disclose the existence of your account or any other infor
