The main benefits of Swiss bank accounts include the low levels of financial risk and high levels of privacy they offer. Furthermore, Swiss law requires that banks have high capital requirements and strong depositor protection, which practically ensures that any deposits will be safe from financial crisis and conflict.
Likewise, people ask, why is a Swiss bank account so special?
The Banking Law of 1934 made it a criminal act for a Swiss bank to reveal the name of an account holder. Swiss bank secrecy protects the privacy of bank clients; the protections afforded under Swiss law are similar to confidentiality protections between doctors and patients or lawyers and their clients.
Are Swiss bank accounts illegal?
Nothing is illegal. Its just that Swiss Banks don't share customer information with the governments of any countries. As such, their is no tax info or account holder information with anyone, except the Swiss Banks.
Do Swiss bank accounts earn interest?
Oh, the SNB has a negative interest for "parking money" there. You may open an account in swiss bank with a minimum of $ 350-$550, plus the initial deposit &They offer a high interest rate. Moreover each bank have a different proposition for its cleints.