Information on Secure Swiss Millennium Bank Accounts

Swiss Millennium bank accounts offer high interest rates.

A Millennium bank account is an overseas bank located in Switzerland. It is a subsidiary of United Trust of Switzerland and is licensed but not FDIC insured.

High Interest Rates

Millennium bank in Switzerland offers the highest interest rates on Certificates of Deposit, paying around eight percent or more depending on the amount of deposit according to Online Savings Account.

Details

Millennium bank is regulated by the International Financial Services Authority and is listed as a licensed bank. Millennium bank operates under its parent company, the United Trust of Switzerland.

FDIC

Swiss bank accounts are located outside of the United States and therefore are not covered under the Federal Deposit Insurance Corporation (FDIC). Depositors should be aware of this fact. Deposits made to Millennium bank or any other banks overseas are not covered by insurance protection, therefore investing in an overseas account contains some risk.

References

• Businessweek: Is Millennium Bank too Good to be True?
• Online Savings Account: Millennium Bank Interest Rate
• The Stock Masters: Millennium Bank Too Good to be True