Switzerland has an extensive network of banks ranging from small regional ones to large banks that are spread worldwide and each one of them has its own requirements when someone wants to open a bank account. Swiss banks are famous for their privacy and stability and fall under the regulations of the Federal Banking Commission.
Banks provide different types of Swiss bank accounts depending on whether the customer is an individual or a legal entity, or if the customer is a resident or non-resident. Residents can opt for current accounts that are used for daily transactions such as shopping or bill payments, salary accounts and savings accounts that usually offer higher interests that the other two types of bank accounts.
Other types of accounts usually employed by non-residents that want their assets protected are the famous numbered accounts and dormant accounts:
Swiss bank accounts can only be opened by personally going to the chosen bank or by postal services or e-mail because certain documents will be required, thus making an online application impossible. It is important to know that each bank in Switzerland has its own procedures, but these are some of the usual documentation and questions clients will be required:
Another important aspect is that each Swiss bank will require a minimum amount of money to be deposited in the account.
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