Posted on 20 January 2011
Tags: account, account holder, accounts, America, amoun, Auditing, auditor, bank, bank account, Bank Accounts, Bank secrecy, banker, bankers, banking, Banking in Switzerland, banking laws, bankrupt, bankruptcies, Banks, banks in switzerland, Business_Finance, capacity, citizen, conditions, country, court, credit, criminal proceedings, Deposit account, different methods, Economy of Switzerland, employee, Ethics, EUR, European Union, Federal law, Federal Reserve System, government, Inheritance tax, interest, investmen, Law of the United States, laws, laws and regulations, legal formalities, Offshore bank, private citizen, regulations, savings, savings banks, securities, Swiss, swiss bank, swiss bank account, swiss bank account exemptions, swiss bank account laws, swiss bank account regulations, Swiss Bank Accounts, swiss banker, swiss bankers association, Swiss banks, swiss federal banking commission, swiss government, Switzerland, taxation, Terms And Conditions, UBS, united states, USA, With-holding
Opening an account in Swiss banks is accompanied with some rules, laws, and regulations. The basic rule is about the age of account opener, that if the account opener is a national of any other country, other than Switzerland, that account opener should be above 18 years old. The exemption and taxation on your amount is also done under certain rules.
Laws and Regulations of Swiss Banks
In Switzerland, nobody, even the Swiss government is allowed to reveal any information regarding accounts or account holders until an account holder is not a criminal.
But in USA even a private citizen has an easy access to it, i.e. in America any one; even a normal citizen can get information of any account holder. The Swiss banker’s requirement of client confidentiality is found in Article 47 of the Federal Law on Banks and Savings Banks, which came into effect on November 8, 1934. In the books of banking laws, this article act is defined as;
“Anyone acting in his/her capacity as member of a banking body, as a bank employee, agent, liquidator or auditor, as an observer of the Swiss Federal Banking Commission (SFBC), or as a member of a body or an employee belonging to an accredited auditing institution, is not permitted to divulge information entrusted to him/her or of which he/she has been apprised because of his/her position.”
Exceptions of Swiss bank accounts
It is discussed in Swiss Bankers Association that no bank is allowed to provide the information and details of any account to any one.
Read the full story
Posted on 09 January 2010
Tags: auto insurance, auto loans, budget, capacity, car dealer, Car dealerships in North America, car financing, car loan, credit, credit history, Credit Score, Finance, insurance, Personal Finance, privare lender, private lender
Handle your view for the Auto Financing by avoiding the three very important factors. These “Do Nots” are as important as the Dos, that were discussed in the previous articles.
1. Don’t Cross your capacity
Do not overlook your budget when going for car financing. Highlight all your expenses before deciding how much you can afford for a car payment. Keep in mind, if your miss your single payment, you can hurt your credit score to the notable level, which will further get you into the higher interest loan. Thus your capacity in terms of paying back the loan is the very first and one of the most significant factors that you should be taken care of, when applying for a car financing.
Read the full story
Posted on 15 April 2009
Tags: 4 cs of credit, bank, bank loan, business owner, capacity, capital, cash and assets business owner, character, Collateral, crdit, four cs of credit, machinery
Banks look carefully at borrowers, if you are a business owner with poor personal credit, you may be thinking that corporate credit is simply unavailable to you.
This is not true! In fact, the process of establishing good business credit may even help you improve your personal credit because you will have a better understanding of how credit lending works.
In the credit world, there is what’s known as the “Four C’s” of Credit—four things banks look at to determine your creditworthiness. These “Four C’s” apply to individuals and to businesses, and they are:
Character
Character is that when a bank judges your business’s character, it is looking at your size include;
Location
Years in business
Number of employees
Stock performance
You will need at least 4 trade references to obtain a business FICO score , factors that will affect your credit score include:
Late payments
Delinquent accounts
Available credit
Total debt
This is why it is very important that as a business you have a physical address, a business phone, answered professionally during business hours, and a business license (if your state requires one).
Read the full story
