Beginners Guide to Swiss Bank Accounts

Swiss-Bank-Accounts

Building wealth is something that most people strive to do, but it is all for nothing if your money is not adequately protected. This has resulted in the popularity of Swiss bank accounts among individuals concerned with protecting their wealth. Find out why this moving money method is becoming the preferred option.

How Much Money Do Swiss Banks Hold?

In order to get an understanding of why Swiss bank accounts offer more security, you have to understand the amount of sheer wealth that they hold. Swiss banks account for about $2.2 trillion dollars and this money is stored within the vaults of Swiss banks. The type of bank account that you can acquire may be either private or retail.

Trade in a Maserati for a Private Swiss Bank Account

Private banking is ideal for individuals with many liquid assets. This means that you have to have at least $300,000.00 in order to even open an account. This is not the same as opening an account at the local PNC bank. You often have to be given a special invitation to even open a private account at a Swiss bank. In some cases, you might even be required to deposit more than $1,000,000.00. Again, we are talking about real wealth and a lot of money.

Retail Banking

Retail banking in Switzerland is geared more toward the masses. This means that you can get access to checking, savings and personal loan accounts. It is vital that you prove identity before you are awarded a retail Swiss bank account. This can be done in a variety of methods including in person meeting, passport validation, notary certification or origin of funds documentation.

Swiss Bank Storage

There have been many famous items stored within the walls of the Swiss Bank vaults. Not only will you find gold, jewels, paintings and sculptures, but at one time a painting by Leonardo da Vinci was actually stored in a vault. This is said to be the most valuable item that has ever been stored within a Swiss Bank vault and it was originally painted in 1480 by Leonardo da Vinci.

Security You Can Count On

Swiss Banks are notoriously tight with security and make it a priority. The highest levels of security and secrecy can be found in Swiss banks. Your account is even labeled using numbers instead of your name, which offers protection that you can depend on.

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