As we explained in our blog on How to Open a Swiss Bank Account, it makes good sense for any individual to hold a significant portion of their assets in Switzerland.
But which bank should you choose?
Choose from One of Almost 20 Banks IAP Deals with
As a medium-sized financial intermediary, we enjoy rewarding relationships with almost 20 banks in Switzerland. Each bank we deal with offers different types of services. But generally speaking, we work together with banks that can broadly be categorized into three types:
- Private Banks or Online Traders with a full range of research, brokerage, and investment services and which generally allow payments transactions
- Private Banks or Online Traders with a full range of research, brokerage, and investment services but only allow a limited number of payment transactions
- Banks that allow commercial transactions and also offer Trade Finance-related products and services
Let Us Help You Find a Bank That Suit Your Needs
Deciding which services are most important to you will lead you to the bank that best fits your needs. However, not every bank provides top-notch quality and you may find it useful to ask for recommendations within your network. Of course, you may alternatively wish to ask us for our opinion.
Due to the regulatory challenges of cross-border banking, banks are increasingly being pushed by regulators to narrow down soliciting and marketing clients to a few selected key markets (where they also have license if deemed necessary). Which bank to choose will therefore depend very much on whether the country in which you reside is considered to be an active target market for the respective bank.
The overview below can serve as a helpful guide. Feel free to call us or send us an email if you have any questions.
Overview of Selected Swiss Banks’ Target Markets
Source: Institut für Finanzdienstleistungen Zug IFZ, Vermögensverwalter Guide 2018