Swiss Bank Account Questions

jinkster

He may not be paranoid, robbed a bank or anything else illegal.

Hiding money from your potential wife/ girlfriend maybe his point and I have to agree with it.

Not sure how it can be done but I guess someone will have already done it or can offer advice on here.

NFH

If you have more than the equivalent of CHF 10,000 and need a EUR account, UBS's EUR accounts are very good - no charges for incoming/outgoing SEPA payments, Maestro card, and all normal banking facilities. Much better than many accounts in the Eurozone. The only downside is the interest rate, which is 0.25% on the current account and 0.5% on the savings account, otherwise I'd use UBS for my EUR.

gfplux

Hello Arteta.
Even if you were able to open a Swiss bank account without a paper trail you then have other issues to consider.
What currency you keep the money in.
privacy might mean no interest being paid.
There will be high bank charges.

Why not open a private safety Box in a UK bank and just pay the rent on the box and keep your money in cash in the box.

As you will earn no interest you will not need to pay UK tax.
You will be the only person who will know about the cash.

meer53

What a strange post !

After going through a divorce and all the financial trauma that this entails, i detest people who try to conceal their assets. If you don't agree with your financial settlements then discuss it in a civilised manner, you'll be found out anyway, it's not worth it. And what sort of person thinks about this scenario BEFORE they get married ? I wouldn't trust you as far as i could throw you !

datostar

gfplux wrote: »

Why not open a private safety Box in a UK bank and just pay the rent on the box and keep your money in cash in the box.

As you will earn no interest you will not need to pay UK tax.
You will be the only person who will know about the cash.

If the OP's Frederick Forsyth/Ian Fleming lifestyle was to result in his untimely demise by assassination, circular saw, laser beam or whatever no-one would know about his stash unless he set up some complex arrangement with secret codes, sealed letters etc. if no-one heard from him for a certain time. Swiss Banks do seem have benefited greatly from this kind of thing in the past when no-one ever turns up to claim the money. Same with safe deposit boxes.

c-m

There are many reasons to hold a bank account in a country not associated with you or with a bank not associated with your country. For example in the even of war, terrorism, natural disaters or any other when the **** hits the fan scenario.

NFH

c-m wrote: »

For example in the even of war, terrorism, natural disaters or any other when the **** hits the fan scenario.

Indeed, and that's why CHF often strengthens in such scenarios. Swiss banks are probably the safest in the world.

intranicity

NFH wrote: »

Indeed, and that's why CHF often strengthens in such scenarios. Swiss banks are probably the safest in the world.

True, even the Nazi party new that before and during WW2 and stashed loads in Swiss Banks............

agsnu

dzug1 wrote: »

No there isn't. And yes I would suggest that most swiss accounts (for foreigners) are for tax evaders or other law breakers.

Being non-domiciled for UK tax is not illegal.

powerone

Ahh a good old James Bond story, love it!!

Dont take too much cash out of the country. The dogs at the airpots and other exit routes are now trained to smell money! Much like the wife.

Swiis Franc is one of the safest currencies in the world. Well was until I wrote this.

You might want to look at this group

http://www.postfinance.ch/en.html