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Classic Swiss bank account
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Classic Swiss bank account
  75 years old Swiss bank with excellent personalized service and a wide array of services. Perfect for investing money in the strictest privacy. The bank's headquarters are in a very elegant building with a discreet entrance.
  • Personalized service
  • Very discreet
  • Low minimum balance requirements
  • Dollar, Sterling, Euro and Swiss francs accounts available
  • Open by mail or in person
  • Wide array of investments available 
  • Investments accessible even with low amounts
  • Mail retaining
  • Visa and Mastercards available with moderate security deposits
  • Safe deposit boxes

The set-up fee for this account is 899.00 Swiss francs (equivalent to $776 or EUR 594 or £417). This one-time fee is fully refundable if the bank rejects your application.


 About the bank
 

75-year-old Swiss private bank with offices in several Swiss cities. Specialized in private wealth management for Swiss and international clients, this established Swiss bank also offers the full range of banking services. It has a dedicated staff and personalized services and represents traditional Swiss private banking at its best.

Although conservative in its business policies and appearance, the bank has a dynamic staff and excellent facilities. Safe deposit boxes in the bank's vault are available on the premises. The bank's main shareholder is another, very large bank.

You will be assigned a dedicated multilingual Swiss banker that will be your contact person. You can meet your account officer in one of the bank's elegant branches in private meeting rooms by appointment. Service level is both personal and discreet.

We receive a constant stream of praise from our clients about this bank and are confident of the quality of the service you will receive and highly recommend it.

 
 Minimum balance
 

The bank expects you to deposit no less than 5,000 Swiss francs (equivalent to $4,300 or EUR 3,300 or £2,300) within 3 months of opening the account and to  maintain this balance for as long as you keep the account. This is a rather reasonable minimum balance with regards to the quality of the service offered.

Some services require a higher minimum balance: Debit card and Internet Banking require a minimum balance of 10,000 Swiss francs (equivalent to $8,600 or EUR 6,600 or £4,600) and for a credit card no less than 40,000 Swiss francs (equivalent to $35,000 or EUR 26,000 or £19,000)

You do not need to make a deposit the day you open the account although this is recommended.

Please note that the bank targets clients who wish to use at least part of their deposits for savings or investment. If all you want is a credit card and have no intention of ever leaving any money on the account to be saved or invested, this account is not for you. If, however, you plan to deposit money regularly on the account and plan to spend only part of it, leaving the rest as your savings, this is a terrific account that you can keep all your life.

 
 Setup mode
 

You can open this account by mail or in person.

To open by mail, you need to fill out an application on this site and pay the account set up fee. The procedure takes about 10 days and we will need to mail you contracts which you need to send back signed along with the other documents explained below. More ...

To open in person, you need to take an appointment with us in Switzerland, Monday to Friday and come with the documents explained below. We will go together to the bank and open the account in approximately 1 to 3 hours. More ...

The documents needed to open an account (by mail or in person) are your passport, a utility bill and documents about the economic origin of the money you intend to deposit. If opening by mail, you will need to authenticate a photocopy of your passport according to our instructions.

If your deposits exceed 500,000 Swiss Francs (equivalent to $431,000 or EUR 331,000 or £232,000) you need to come personnally to the bank at least one time within the first 6 months of opening your account.

This account can be opened as a corporate account under the following conditions:

  • An additional one-time 500 Swiss francs charge is payable on top of the set-up fee (equivalent to an extra $431 or EUR 331 or £232).
  • We need apostilled documents for the company including a corporate resolution to open a bank account in Switzerland and a document proving that you are entitled to operate this account on the behalf of the corporation. The exact corporate documents we need depend on the jurisdiction where your company (offshore or onshore) is incorporated. We will send you a list of the exact documents we need when we get your order.
  • The minimum balance to be maintained at all times is 100,000 Swiss Francs (equivalent to $86,000 or EUR 66,000 or £46,000).
  • The account may not be used as a current account, but rather for saving money over the long run. It is acceptable to use the account partly for commercial purposes as long as the minimum balance is exceeded AND at least half of the money you deposit remains on the account as long term investments. We understand that some clients require a current account to receive and send payments with no intentions of ever leaving any substantial amount on the account but this account could not be used in that way.
  • We need to know precisely who are the ultimate beneficial owners of the company and what business it is engaged in.
 
 Internet banking
 

Online banking system available as soon as your balance reaches 10,000 Swiss francs (equivalent to $8,600 or EUR 6,600 or £4,600) for viewing your balance, checking your statements online, and following your investments. System available in English, French, Italian and German. Online bank transfers are not possible yet but this facility should be coming soon.

Security of the system is provided by a military-grade encryption. You will receive a James Bond like mini computer the size of a keyring. This device generates a new number every 30 seconds. This number is unique to your account and will be verified by the bank's server when you log in along with your personal password and account number. Once identified, the system let you access your account statements from anywhere in the world.

If you open the account in person you can usually access your account from the internet within an hour.

The system is easy to use and very secure.

 
 Mail retaining
 

Available for only 100 Swiss francs a year (equivalent to $86 or EUR 66 or £46).

The bank can hold all mail and not send you anything unless you specifically request it. You can either pick up your statement in Switzerland or ask them to be mailed anywere you like in bulk, for instance once a year.

 
 Credit cards
 

EC/Maestro International debit card
'Maestro' debit card which enables you to withdraw cash all over the world at cash machines. Monthly withdrawal limit up to 10,000 Swiss francs (equivalent to $8,600 or EUR 6,600 or £4,600). Available when you reach the minimum balance on your account. No additional security deposit is required. The card costs only 20 Swiss francs a year (equivalent to $17 or EUR 13 or £9.28). Cost to withdraw cash at ATMs outside Switzerland is 5 Swiss francs per withdrawal (equivalent to $4.31 or EUR 3.31 or £2.32). A minimum balance of 10,000 Swiss francs (equivalent to $8,600 or EUR 6,600 or £4,600) is needed to obtain a debit card.

International Visa and Mastercard credit cards 
You can obtain an international credit card which can be used all over the world to pay in stores, hotels, restaurants, online shops, etc… You will need to deposit a security of 40,000 Swiss francs (equivalent to $35,000 or EUR26,000 or £19,000 ) to obtain the card. The security can be invested and is part of the minimum balance for the account.

Credit cards are available in Swiss francs, Euros and US dollars. Annual costs for entry level card (Swiss franc silver Mastercard) cost 100 Swiss francs a year (equivalent to $86 or EUR 66 or £46). Cost to withdraw money at cash dispensers outside Switzerland is 2.5% with a 10 Swiss francs minimum (equivalent to $8.63 or EUR 6.61 or £4.64 ).

Mastercard
Visa
 
 Investments
 

The bank prides itself in offering tailor-made investment services. You can get your own portofolio with Swiss & international stocks and bonds. The banker can manage everything on your behalf or you can tell him directly what you want to buy. You can also buy precious metals such as gold as well as mutual funds and fixed term deposits.

  • Money market funds starting at 5,000 Swiss francs (equivalent to $4,300 or EUR 3,300 or £2,300)
  • Term deposits starting at 70,000 Swiss francs (equivalent to $60,000 or EUR 46,000 or £32,000)
  • Establishement of a bond / stock portfolio with/without the advise of the bank starting at 20,000 Swiss francs (equivalent to $17,000 or EUR 13,000 or £9,300)
  • Access to any mutual fund starting at 5,000 Swiss francs (equivalent to $4,300 or EUR 3,300 or £2,300)
  • Precious metal investments starting at 5,000 Swiss francs (equivalent to $4,300 or EUR 3,300 or £2,300)
  • Full management of your money by the bank under your general instructions starting at 100,000 Swiss francs (equivalent to $86,000 or EUR 66,000 or £46,000)
 
 Banking charges and expenses
 

Bank transfers: 15 Swiss francs per international outgoing transfer (equivalent to $13 or EUR 9.92 or £6.96).

Incoming bank transfers are free of charge.

The bank does not issue checkbooks as we do not use cheques in Switzerland.

The maintenance of the account costs a minimum of 36 Swiss francs a year (equivalent to $21 or EUR 16 or £11). A small charge for each line in your account statement will be made at the end of the year. Unless you have many operations on your account, the total maintenance charge should not exceed approximately 100 Swiss francs a year (equivalent to $86 or EUR 66 or £46).

Depositing cheques: 25 Swiss francs per cheque (equivalent to $22 or EUR 17 or £12). The funds are credited to your account only when the cheque has cleared. It takes about 2 weeks for international cheques to clear.

 
 Account officer language
  - French
- German
- English
- Italian
 
 Available currencies
  Any currency
 
 Restricted countries
  If you live in one of the following countries you cannot open this account: Afghanistan, Albania, Colombia, Cook Islands, Dominica, Egypt, Grenada, Guatemala, Indonesia, Marshall Islands, Myanmar, Nauru, Nigeria, Niue, St. Vincent, The Philippines, USA.
 
 Restricted citizenships
  If you are a citizen of one of the following countries you cannot open this account: Afghanistan, Albania, Colombia, Cook Islands, Dominica, Egypt, Grenada, Guatemala, Indonesia, Marshall Islands, Myanmar, Nauru, Nigeria, Niue, St. Vincent, The Philippines, USA.
 
 Set-up fee
 The one-time setup fee to open this account is 899.00 Swiss Francs (equivalent to $776 or EUR 594 or £417).
  
   
 

The information contained in this website is not meant to substitute qualified legal advice given by a specialist knowing your particular situation. We can accept no responsibility for the consequences of decisions made following information found on this website. Micheloud & Cie is not a bank and neither sollicits nor accepts deposits. Currency conversion and interest rates provided on this website are listed for informational purpose only and may not be up-to-date. More >>

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