There are different laws to open a Swiss bank account. The very first important law is that if you are not a citizen of Switzerland, you must be at least 18 years old. You can open your account in any currency. Normally people choose American dollars currency.

Choice of bank and account type

It depends upon your investment that what type of account you want to open. For privacy and security reasons choose a bank in Switzerland that has also a branch in your country. The type of account depends on your investment and function of your account. They also provide you safe deposit box so that you can deposit your important documents and other items. Select a type of account that suits your needs and you do not need to pay extra money.

Interest giving accounts

If you maintain your account in Swiss Francs you can earn a small amount of interest. You can also earn interest if you select any other currency like US dollars or British Pounds or Euro. They will put your money into money market fund and will earn interest there.

Account opening

You can open your desired account by filling the application and also providing the necessary documents along with your application. Read the full story

On Wednesday it has been announced by Bank of America that it will pay back the $45 billion it received from the Troubled Assets Relief Program, or TARP.

In response to the positive news from America’s largest bank both the U.S. dollar and euro has shown a rise.

The announcement has highlighted the speedy recovery of U.S. banks that received bailout funds.

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