There are many banks and account types in Switzerland. There are some universal banks in which there are all types of accounts and facilities are available for their clients and there are also some specialized banks, which deals only in specific field. Following are some details of different banks and account types in Switzerland.

Two largest banks in Switzerland

There are almost 400 banks in Switzerland and out of these 400 banks there are two large banks;

• Union Bank of Switzerland, after its merger with Swiss Bank Corporation, it is also called UBS AG.
• Credit Suisse Group

  

These two banks are managing the 50 percent of the account sheet of Switzerland banking business. They are handling the main economy of Switzerland.

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Mention Swiss bank account and heads turn and people tend to get more attentive. First thing that comes to mind is filthy rich people. Swiss bank accounts are usually associated with drug and corruption money due to popular media and fictional movies. This lead me into a quest for truth among all the myths surrounding Swiss bank accounts. It was only a matter of understanding Swiss people and their legal and banking system. All myths evaporated as facts came forward to clear the mist. let me share what I found about Swiss bank accounts.

Only millionaires can have Swiss bank accounts

This is most popular of the myths. It is not true that Swiss Accounts are only for very rich people. In fact most of the people holding Swiss Bank accounts are not leading industrialists or movie stars. It is everyday people. businessmen, IT professionals, engineers, doctors and government employees etc. Gone are the days when Swiss bank accounts were only for rich.

Barrier to entry are considerably low. Minimum amount to open an account in Swiss Bank is just 5000 Swiss Franc. There are even Swiss accounts available where you don’t need to maintain a minimum balance.

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