myths and facts about swiss bank's accounts

hey guyz this is bhushan today i am gonna write some myths about swiss bank's account and some facts about it. recently in india the main topic of our freaking news channel is corruption. although 300lacs,crore on paper figure is still in swiss bank from indian politicians (remember its onpaper figure and in india we can not trust on paper because this figure is a statement about how onpaper is true in india its far more than that as per experts point of view)

• Swiss bank accounts are only for millionaires.
• Money invested in Switzerland yields no interest.
• It's impossible to open an account in Switzerland by correspondence.
• Swiss bank accounts are very expensive to maintain.
• It is difficult to close a Swiss bank account.
• Swiss bank accounts attract only criminals and dictators.
• Numbered accounts are anonymous.

1. Swiss bank accounts are only for millionaires

This is not true. The majority of our clients are not major manufacturers or movie stars, but everyday people (business people, computer engineers, civil servants, etc.). Swiss banks are no longer only for stars.
You can open a Swiss bank account with a deposit of only 5,000 Swiss francs. We even offer accounts with no minimum balance. even lots of businessmen from us and uk are opening their account and save some bucks while crisis.

2. Money invested in Switzerland yields no interest

Nothing could be more untrue. You can invest your money worldwide from your account in Switzerland through investment funds, bonds, the stock market, the purchase of metal values, raw materials, derivatives and many other types of investments. Swiss bankers are among the best finance managers in the world, so it comes as no surprise that they manage over 35% of offshore holdings.

in another meaning If you maintain your account in Swiss Francs you will earn a small amount of interest, but will then have to pay the Swiss withholding tax. For this reason, most account holders that don't live in Switzerland have their Swiss bank account in some other currency such as U.S. Dollar, British Pound or Euro. When you do this, your money can be put into a money market fund and will earn interest there..

3. It's impossible to open an account in Switzerland by correspondence

lolz. Most of the accounts that we offer can be opened by correspondence as long as you comply with our opening procedures and provide us with the necessary documents. What is more, your banking relations can be conducted by correspondence, using the telephone, Internet banking, bank transfer and credit cards. That said, we encourage our customers to meet with their banker at least once in order to get acquainted and see where their money is held.

in another meaning Because Swiss anti-money-laundering law requires you prove where your money is coming from, many certified documents are required in order to open an account. These include authenticated copies of your passport; documents explaining what you do for a living such as tax returns, company documents, professional licenses, etc.; proof of where the money you are depositing is coming from such as a contract from the sale of a business or house; and all of the typical personal information about yourself such as your birth date, a utility bill to prove your residence, all contact information, and, of course, your name. They'll also want to know what you want to do with the money once you have the account.

If you're opening your account by mail, you'll need to have the bank applications sent to you to complete and sign along with the rest of the documents mentioned above.

One difference between opening an account in person and doing it by mail is the requirement of an apostille on the authenticated copy of your passport (and no, a driver's license won't be accepted as proof of your identity).

An apostille is a seal used to certify that an official document is an authentic copy. In most countries, you can get it from a notary public but sometimes notaries aren't familiar with them. If this happens you must either find another notary who is, or find out what other authority in your country can issue apostilles. Any country that participated in the Hague Convention designates an authority that can issue apostilles (e.g., in the United States, the office of the state's secretary is authorized to do this). The most important thing is to always make sure the seal says APOSTILLES.

4. Swiss bank accounts are very expensive to maintain

This is not true. Most of the accounts we open don't charge a cent in annual fees. Even if you would like additional services such as retained correspondence or numbered banking relations, the annual fees are very reasonable. Minimum balances vary greatly by type of account (i.e., a few thousand dollars to one million dollars or more). And, banks charge differing fees based on the types of transactions and the account type you have. For example, on a basic account, international bank transfers (outgoing) might cost $3 or $4 each. They may also charge $5 to $10 when you deposit international checks to your account. Annual account maintenance costs are charged based on the number of entries in your account statement and are sometimes in the neighborhood of 0.5 Swiss Francs (i.e., $0.41) per entry. it is far more cheaper than our banks law

5. It is difficult to close a Swiss bank account

You can close your Swiss bank account at any time with no restrictions or cost. You can get your money immediately and invested money as soon as it is liquidated. On the contrary. You can close your account in Switzerland whenever you wish and without any restriction. You will pay no financial penalty. If need be, you will just have to realize your investments. Contrary to many onshore banking practices, your money is not held hostage by Swiss banks. 

6. Swiss bank accounts attract only criminals and dictators

The vast majority of Swiss bank account holders are honest people who want to keep their savings in a country renowned for its stability. Swiss banks are extremely cautious regarding politicians who wish to open an account and they systematically refuse to accept any money that is of dubious origin or poorly founded. and ya politcians are not a good looking sign a people they are criminals but one can not comment that swiss bank accounts holders are also criminal.

7. Numbered accounts are anonymous

There are no anonymous accounts in Switzerland. A numbered account is an account that is identified solely by a number, rather than a name, in order to preserve the strictest confidentiality possible during teller transactions or bank transfers. Only the bank manager and a few select people know the identity of numbered account holders. Numbered accounts are usually not as easy to open. They typically require that you physically go to the bank in Switzerland. They also typically require an initial deposit of at least $100,000 and cost about $300 per year or more to maintain. And remember, they're still not anonymous since there has to be a connection at some level between who you actually are and your account.

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