Swiss Bank diposit Insurance

Who can open a Swiss bank account?

In principle, any adult person can open up an account at a financial institution in Europe. However, banking institutions book the right to reject customers. For instance, a bank may refuse to offer financial providers to a so-called "politically-exposed person" that the bank thinks might present as well great a reputational danger if they had been to become customer. A bank may also refuse to begin a banking romantic relationship whether it offers doubts about the roots of the potential customer's funds simply because Swiss banks are not allowed legally to simply accept money which they know or even must presume originate through criminal offense.

Swiss banks have deposit insurance

Deposits on a Swiss bank account are guaranteed by a collective organisation financed by the banks. The limit is of CHF 100'000 per account holder (equivalent to $90,000 or EUR 68,000 or £63,000). It also protects non-Swiss residents who have accounts in Switzerland. It also covers deposits on foreign currencies, up to the equivalent of CHF 100'000. If a client has several acccounts in the same bank, the global limit is CHF 100'000. If a client has several accounts in different banks, the limit is CHF 100'000 per bank. All banks we work with are members of this organisation.