Swiss bank accounts provide strict privacy, total confidentiality and are also tax-free.
With a Swiss bank account you can also earn interest in the currency you wish to hold your account in (USD, CHF and EUR). You can also receive an international credit card and a numbered account if you choose.
Typical Swiss bank account clients
Typical Swiss bank account clients come from all walks of life, from international consultants and sales representatives to expatriates and computer programmers. In fact, anyone seeking to gain financially (possibly through trading in the capital markets, the sale of real estate, inheritance, or an insurance policy), or who wants to protect their estate in the event of divorce or inheritance, can take advantage of the benefits of Swiss banking.
Does it cost anything to open my Swiss bank account?
Opening a Swiss bank account is often free of charge.
Which documents do I need to open a Swiss account?
Opening a Swiss bank account has never been easier.
Before you arrive in Switzerland, you will be asked you to bring with you some of the following documents:
Passport
You might also be asked to send an authenticated copy of your passport's photo page, showing your passport number, before you arrive.
Financial background
These documents show what you do for a living, for example a copy of a current bank statement, contract of employment or tax return. The exact documents required depend on the nature of your professional life.
Origin of deposits
These documents show the financial origin of your deposit. For example if you are depositing funds from the sale of a house, you might be asked to send proof of the sale, a copy of the real estate agent's listing, or similar.
Personal Information
You are usually requested to provide only basic personal information. This information is required in compliance with Swiss anti-money-laundering laws and to understand your banking needs. All your information should be held in strict confidence.
Swiss bank accounts for US residents
If you live in the US you can still open a Swiss bank account. However, there are some considerations. You should not invest in any US securities from your Swiss bank account if you want to keep this account private. Also, you cannot invest in most investment funds such as mutual funds.
Security deposit
To obtain a credit card for your Swiss bank account, you will be required to make a security deposit. Depending on the bank you choose, this deposit can be as much as 1.5 to 2 times your monthly credit limit. For example, if you have a maximum monthly limit of USD 5,000, you will be asked to deposit anything from USD 7,500 to USD 10,000. This security is held in another account at the bank and invested in a fund. Your deposit will be returned to you when you cancel your credit card and pay any outstanding bills.
Question 1: Can I get a credit card without a security deposit?
No. No bank will agree to issue a card without a security deposit.
Question 2: Can the security deposit be used to pay credit card bills?
No. Bills are sent to you, and you must pay them separately. If this is inconvenient, you can always authorise your bank to debit the amount from your account and they will hold the bill until the next time you visit the branch.
In the next installment, we deal with making deposits to and withdrawals from your Swiss bank account.
Swiss Family Robinson Part 1
It can happen to even the best of us. I have seen professional photographers lament over the loss of photos they took at an event. In the old days of film cameras, it was quite difficult to lose an image. As long as the settings were correct, the film recorded the subject and was then processed and printed. The camera had just a few settings, and if the photographer took reasonable care, you were good, But in this day of digital cameras, everything is controlled by a computer, one in the camera, one in the lens, and one in the flash. The computers will do a pretty good job of preventing errors, but they cannot eliminate them. At least, if the photographer looks at the LCD on the back of the camera, you can be pretty sure that things are working ok.
1. Make sure that all your batteries are fully charged. This is critical, not just to make sure your camera can take photos on the day, but to also protect the photos you take and be sure the memory card does not become corrupt.
2. Make sure that you have enough memory cards to hold all of the photos you will be taking on the day. Have a number of cards and swap between them so you do not lose a whole days event on the one card.
3. Before you start the days event, make sure that you format the memory cards and get them prepared for the days event. Always format in the camera you will be using.
This is the continuation from part 1 of this article.
4. Never use a memory card in more than one kind of camera without formatting the card. You can not only damage a memory card but you may lose the images you have already taken by using the card in a camera other than a camera of the same make and model as the one you used to format the card. Most cameras will write the file a little differently, and so if you use the card in a different camera, you again run the risk of losing images. If you intend to use a card in a different camera, that make sure that you copy all the files onto your computer, and then format the card in the other camera before use.
5. Part of the reason for item 1 above (fully charged batteries), is not just to make sure you have enough power to take photos during the days event, but also to ensure that the camera will not power off during writing a file to the memory card. If the camera battery fails while writing a file, you will not only lose that image, but the rest of the images on the card may be lost forever. A memory card is just like a computer hard drive. It has a directory and file structure so that the camera and your computer know where the files are, how many files are on the card, and how big the files are. If the camera fails during writing a file to the card, it can corrupt the card, just like a hard drive crash. Also, never take a card out of the camera while the file is still being written to the card. Always make sure that if you need to remove the card after taking a photo, wait a few seconds to make sure the file has been written to the card to avoid problems.
6. When it comes time to move your photos onto your computer's hard drive, I suggest that you use a memory card reader and not the camera. Again, it is always possible that the camera's battery could fail during the process to copy the photos over to your hard drive. If the card does become corrupt, you could potentially lose all the images. It is generally accepted i the industry that a memory card reader is faster than your camera when transferring files. Card readers are very inexpensive, and you have a choice of using a multi format reader or one designed just for the card type your camera uses. The price of memory card readers are so cheap, you can carry one with you and use it to show clients during the shoot. If you have a computer available, it is the most pleasing way to see the photos you have taken.
So, if you would really like to lose all those treasured photos, if you really want to have the hassle of explaining to your client, family or friends that you have lost all of the images you took, then just ignore these tips. You will lose some money, some friends and have to endure the wrath of some potentially very angry people. Good word of mouth advertising cannot be bought. So, if you do have a problem during the event, you will miss out on a lot of income that you could've made over the years. There are wedding photographers who consistently make well into the 6 figure income. And in the US alone, the wedding photography market is in excess of five billion dollars a year. Not a bad market to be in.
So, if you follow these simple steps, you will ensure that your images will be saved, and everyone will live happily ever after. OK, well, maybe we do not need to be that melodramatic, but I am sure you get the picture (pun intended). Your clients will be happy, you will be happy, and your wallet will be happy. Plus, you get the benefit and the pride of knowing that you did a good job and that a small part of you will live on and be enjoyed by generations of people looking at your photos. Like a fine art painter, your photos will be seen and enjoyed by generations of people. It just does not get better than that. Enjoy.
Both Fiorenzo Fontana & Tom Jackson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Fiorenzo Fontana has sinced written about articles on various topics from Finances. . Fiorenzo Fontana's top article generates over 1900 views. to your Favourites.
Tom Jackson has sinced written about articles on various topics from Family Travel, Wedding Photography and Computers and The Internet. Tom Jackson began his career by shooting weddings. He is a consultant to the graphic design, advertising and publishing industries, teaching digital technology. You can get more info on photography and see. Tom Jackson's top article generates over 135000 views. to your Favourites.
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