Why Swiss Bank s favorite of the rich

by Madhvi Bansal
Published: Last Updated on
Swiss Bank s favorite of the rich

Whenever there is a money fraud involved, media always highlights the presence of Swiss Bank in it. That’s why all the illicit money is apparently stashed. Though swiss bank accounts are not just for millionaires, criminals or government officials, but a large chunk of them do own an account in the bank.

Money is super safe

The Swiss bank offers full guarantee that your money is safe with it. In case of any untoward incident, the bank holds the responsibility to return your money in full which proves the reliability of the institution.

Security and Privacy

When you open an account with the Swiss Bank, the bank does not have the authority to reveal or even acknowledge that you have an account with them. This secrecy is one of the hallmarks of Swiss Bank as nobody wants the world to know where their money is hidden.

Strong economy and Currency

Having an account in a country like Switzerland is extremely safe as it is far away from any economic crisis. Switzerland has a very solid economy and an equally solid currency. The Swiss Franc is one of the safest currencies in the world with 40% gold reserve backing at all times  and the Swiss Economy is unlikely to be affected by economic issues that greatly affect other nations.

Ease of opening an account

It is a myth that opening an account with Swiss Bank is difficult and only for the filthy rich. However, all it takes is that you have to be 18+ and that you should have a valid passport. Some banks may additionally require income proofs, minimum deposits etc. but that does not make them inaccessible.

Diversifying portfolio

The rich and wealthy  are always on the lookout on how to best diversify their portfolios and minimize risk. Holding an account in Swiss bank is one of the best ways  to internationalize your savings and diversify the risk of your portfolio.

International reputation

A Swiss bank account holder holds a good reputation in the international business community. Once you hold an account in the Swiss bank, you are always welcome in the international community as a reliable individual.