What is numbered account?
Numbered bank accounts are offered by Swiss banks to the majority of their clients. Typically the account will also have a codename attached to it for the convenience of both the banker and customer. This avoids confusion between banker and customer as to which account is being discussed. The feature of numbered accounts is that the customer’s name does not appear on bank statements. Only the number and code-name appear. This means that if bank statements are lost or stolen, it will not be immediately obvious as to who is behind the account. Although numbered accounts may seem to grant some anonymity, Swiss law now requires all banks to know the identity of their customers. However, in the case of a numbered account, the customer’s identity will only be known to a small group of people in the bank, on a “need to know” basis. Also the customer’s name does not appear on the bank’s computer thus preserving confidentiality in the case of cybercrime. Numbered accounts may not be used to hid
