How to Open a Swiss Bank Account in Person
Switzerland is renowned for its financial services industry, protective banking privacy laws and openness to foreign investment. Opening a bank account in person is not necessary for all the major banks in Switzerland, but it's possible to do so to ensure privacy or as a convenience when visiting the country. IRS regulations mandate that all US citizens report foreign bank accounts larger than $10,000.
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Instructions
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Gather extensive bank records and documentation of your income. Swiss banking laws restrict the depositing of money obtained through criminal activity. If you can't document the passage of your funds, a bank may refuse to allow you to open a deposit. You will also need a valid passport to travel to Switzerland and to present identification when you open an account.
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Choose the Swiss bank with which you would like to do business. The two largest Swiss banks are Credit Suisse and UBS, both of which offer customer service in English. There are hundreds of other major Swiss banks as well, but not all of them provide comprehensive international online banking service. Many of the smaller banks cater exclusively to high net worth individuals and aren't likely to open accounts for anything less than the equivalent of $1,000,000.
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Travel to Zurich, Switzerland, the capital of the country. Most of Switzerland is relatively rural apart from Zurich and its surrounding areas Geneva and Berne. Zurich is the financial center of the country, however, and all the major banks have retail locations there. Go to the bank that you have chosen to open an account.
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Select the type of account that you would like to open. The status of Switzerland as an international banking center makes foreign currency accounts more common than they are elsewhere. In most cases, you will be able to open accounts in US dollars, Swiss francs, Japanese yen, euros and all other major internationally traded currencies.
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Provide the documentation of your income and bank records when requested. After reviewing your material, your banker will decide whether or not to approve you for an account. Open your account, providing the minimum balance and paying all relevant fees.
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