Originally Posted by Webby

Just thinking about this thread - it's too naive and amateurish and worth extra comment.

For folks to be defining what they would like to see in their own private Swiss bank account - online banking, "established bank", no more than $20K min account balance blah - while it is also clear there is a need to defraud revenue agencies - they seriously need a grip on reality.

Swiss private banks are not interested in people working at a level of $20K min deposits - they are investment banks and not the local Bank of America. They also don't have "branches" in other countries.

They also want to know exactly who their clients are and meet them personally - and also know where the account funds are coming from.

In this instance, it's not a matter of the credibility of the bank - they existed long before a few countries, - but more relevant is the credibility of the client.

Finally, anyone who still lives in a high-tax regime (specially, a "resident" or "citizen") and expects the benefits of eg Swiss private banking is living in lala land. 99.9% chances are that the scenario is little more than basic fraud/tax evasion.

Flip side of the coin, there are Swiss banks - "normal" one's used by Swiss nationals and others who may have online banking. There is little "private" about them and same as an account in any bank.

The only *real* valid use for individuals (or most corps) to legally use "private banking" (unless this was fully disclosed - which then kills the need in the first instance), is to reside in a no-tax area, where this issue is not on the table and not "illegal". (There other scenarios which are legal, but they are miles above the amateur level of this thread).

There are also other areas as well as "popular" Swiss banking institutions for investment. On average, they have more security/privacy than most banks in the world and rated far higher than most "branded" banks, - but ain't gonna discuss that here - it would not be relevant.