In the primary part of this guide, you learnt approximately some of the main benefits of Swiss banking. You additionally determined how to open a Swiss bank account, and a way to use it for savings and investment purposes. In this 2nd element, we cope with making deposits and withdrawals.

Deposits & Withdrawals
How can I deposit cash in my Swiss bank account?

Once your account has been opened, you can deposit cash on your account in numerous methods:

Cash deposit
Traveller’s test deposit
Securities deposit
Transfer from any other account
Receive a bank switch
Personal checks
Bank exams
Selecting the maximum suitable technique of deposit depends on the quantity deposited, the degree of confidentiality favored and the level of comfort.

Can traveler’s checks be tracked?

The issuing bank can discover in which vacationer’s checks had been cashed. In reality, you’re always required to show your identification whilst creating a purchase with vacationer’s tests. Since each test is identifiable via a completely unique number, it’s miles viable to trace it. However, in practice this form of seek is rarely conducted.

Can I make a deposit with a postal order?

At the time of penning this, there aren’t any acknowledged regulations in Switzerland regarding receiving deposits inside the form of postal cash orders in your Swiss bank account. However, you should verify that the postal device you’re using allows you to send cash to a foreign financial institution account.

Can I make a deposit to my Swiss financial institution account through Western Union?

Western Union’s offerings are handiest for people wishing to switch cash to different individuals. At the time of writing this, it is believed now not to be feasible to apply Western Union to deposit money to a Swiss bank account.

How can I withdraw cash from my account in Switzerland?

There are numerous ways you can withdraw money from your Swiss financial institution account:

Credit card
Cash withdrawal
By traveller’s tests
Bank transfers

Selecting the most suitable technique of deposit relies upon on the amount deposited, the diploma of confidentiality favored and the level of convenience.

Which credit cards can I use with my Swiss Bank Account?

For the fastest access in your Swiss bank account, a credit score card offers the liberty to get entry to your funds, 24 hours a day. Wherever you’re, you could withdraw coins discreetly from ATMs.

How can I get a credit card?

You can gather a credit card so long as you’re making a protection deposit. Swiss banks do not behavior credit score inquiries: the safety deposit is considered to provide the safety the bank requires.

Which credit score card gives the most confidentiality?

Most banks offer credit playing cards without the financial institution logo. Nevertheless, experts can become aware of your bank by means of the first four digits of your credit card range.

If you desire to avoid any connection to the financial institution, you may, in a few instances, request a card be issued by using an organization aside from your financial institution.

It is unlawful for credit score card organizations to offer any facts on cardholders. Just like the banks themselves, credit card corporations are certain by Swiss expert secrecy.

How do I use a credit card discreetly?

Discreet cardholders will:

Use their credit card exclusively at ATMs

Avoid the use of their card in shops, eating places and overseas*

Never pay for offerings in their u . S . A . Of house*

The credit score card slip issued at some point of transactions carries data approximately your account: identity of the financial institution (or at the least the u . S .), your first name and remaining call.

Bank transfers

Generally, it takes or 3 working days to transfer cash out of your Swiss bank account to an account in every other industrialised united states of america. However, this timeline may additionally range due to motives past the control of your Swiss bank.

These delays can also arise from a number of motives:

The nature of your switch

The way in which you transmit your request for charge on your financial institution affects the time it takes to complete a transaction. If you send your request for your bank via everyday submit, it need to take two or three running days to technique your order. Using on line banking offerings even though significantly reduces this put off.


Currently, ninety% of all banks global use the SWIFT network to perform worldwide bank transfers. SWIFT is a computerised gadget which permits banks to exchange internationally known messages that imply credited quantities and authorise debits.

Some banks in developing nations are not affiliated with the SWIFT community and transmit this form of information by using telex. As a end result of this, the time taken to switch your cash can be greatly not on time.

Affiliated Banks

SWIFT best transmits a message. In order for the operation to be completed effectively, the receiving financial institution need to have an account at the pinnacle workplace of the issuing financial institution. Generally, every major bank holds direct bills at the top offices of different foremost bank and thus an interbank switch can without problems and fast be made.

If the receiving bank does not have an account with the issuing financial institution, the twine switch should go through an affiliated bank which can link the two banks. Sometimes, it is necessary to name upon numerous affiliated banks with a view to switch the cash to the very last receiving bank. This may additionally take longer and each middleman may additionally price a fee for their offerings.


A cord switch need to take vicinity thru one of the countries which issues the forex. For instance, a wire switch in US greenbacks paid to an Italian financial institution should bypass thru an middleman in the United States. As a end result of this, the operation may additionally take longer, depending on the foreign money being transferred.

*SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a employer integrated under Belgian law, whose headquarters is placed in Brussels. Its position is to facilitate worldwide banking operations via a very powerful laptop network. SWIFT become based in 1973 by using 239 banks in 15 distinctive countries and now greater than 7,125 establishments in 192 nations join it.

Check books

Checks and test books are very hardly ever used in connection with a Swiss financial institution account. Your financial institution can put together bank assessments in your behalf, but this is not often smart. The purpose for that is that a check issued by using your Swiss bank informs some of people that your Swiss account exists, which imperils your confidentiality. Furthermore, it takes numerous weeks for a check to be completely processed.

If you desire to withdraw finances from your Swiss financial institution account, we’d endorse the usage of your credit playing cards as that is faster, extra efficient and a greater discreet.


All Swiss banks are obliged to ensure that any statistics held about you or your account is precisely confidential.

Swiss bank secrecy is one of the strictest within the global and is a part of an historic Swiss lifestyle of privacy. Under Swiss law any banker who well-knownshows records about you with out your consent runs the risk of a prison sentence.


The simplest exceptions to this rule are in regard to critical crimes such as arms smuggling and drug trafficking. In the occasion of accusations of tax evasion, your privateness is still guaranteed in Switzerland as failure to report profits or assets isn’t always seemed as a crook offence in Switzerland. This manner that neither the Swiss authorities, nor any other government, can accumulate information approximately your financial institution account. Should they desire to acquire this type of information, they must first persuade a Swiss choose that you have committed a critical crime punishable beneath the Swiss Penal Code.

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