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Old 08.04.2015, 08:28
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Cash payments into bank

I am selling a boat & the buyer wants to give me 50% in SFR cash. Is there any problem paying a large amount of cash into a Swiss bank? I know that in most countries there is limit - typically 10000 Euros but my amount is much more than that.
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Old 08.04.2015, 08:50
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Re: Cash payments into bank

It depends.

Typically large sums of cash paid in by individuals may get flagged - however it will depend on the transactions that are "normal" for the account.

For example if I tried to pay 50,000chf into my account questions would be asked and I may have to demonstrate why that amount was provided in cash and the source of that cash.

If you are a secondhand car dealer though, you may well pay in 50,000chf in cash every other day, so no flags.
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Old 08.04.2015, 08:58
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Re: Cash payments into bank

I don't think there's a limit as such, rather for larger sums you have to show the source of the cash. I paid £26,000 cash into a UK account not that long ago, and had to do this to comply with EU anti money-laundering regulations. I don't know if they also apply within CH (due to some bilateral agreement perhaps).

My guess is that putting a few tens of thousands of francs into a Swiss bank will be fine, since they don't view poverty as shameful.
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Old 08.04.2015, 09:00
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Re: Cash payments into bank

When opening an account with UBS the other day they asked if I would be making a large transfer. They guy I was speaking to said an amount over 20,000 would be highlighted for money laundering checks.

You might want to have a copy of the boat registration documents, and a signed contract with the buyer that you can present to the bank as proof that the money is coming from a legitimate source, and then you should have no problems.
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Old 08.04.2015, 09:19
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Re: Cash payments into bank

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When opening an account with UBS the other day they asked if I would be making a large transfer. They guy I was speaking to said an amount over 20,000 would be highlighted for money laundering checks.

You might want to have a copy of the boat registration documents, and a signed contract with the buyer that you can present to the bank as proof that the money is coming from a legitimate source, and then you should have no problems.
That it self won't show that it has come from a legitimate source - it shows that a legitimate asset was sold which has lead to the OP having the cash. The source of the cash remains unknown. (But I do get what you are trying to say).
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Old 08.04.2015, 10:41
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Re: Cash payments into bank

An guy walks into a Swiss bank, goes to the teller, brings his face close to the glass and whispers, "I would like to deposit a million"

The Swiss bank teller replies in a normal volume, "Sir, there's no need to whisper. Poverty is nothing to be ashamed of in Switzerland."
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Old 08.04.2015, 10:44
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Re: Cash payments into bank

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An guy walks into a Swiss bank, goes to the teller, brings his face close to the glass and whispers, "I would like to deposit a million"

The Swiss bank teller replies in a normal volume, "Sir, there's no need to whisper. Poverty is nothing to be ashamed of in Switzerland."
A few years ago the registered taxable assets of Zollikon tipped over the 1,000,000chf per person mark - that was for every man, woman and child registered
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Old 08.04.2015, 11:03
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Re: Cash payments into bank

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A few years ago the registered taxable assets of Zollikon tipped over the 1,000,000chf per person mark - that was for every man, woman and child registered
Poor, poverty-stricken Zollikon. Its neighbor Zumikon has average taxable assets of CHF 2'564'000 per taxpayer, and Rüschlikon, across the lake, came in at CHF 3'510'000 (2013):

http://blog.tagesanzeiger.ch/datenbl...lionen-franken
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Old 08.04.2015, 11:56
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Re: Cash payments into bank

The bank wants to ensure that it can't be implicated in money laundering. So long as they can show they complied with regulations, they don't actually care where the money comes from.
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Old 08.04.2015, 13:49
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Re: Cash payments into bank

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The bank wants to ensure that it can't be implicated in money laundering. So long as they can show they complied with regulations, they don't actually care where the money comes from.
Agree .. I did my AML refresher training very recently
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