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Old 15.04.2009, 17:43
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Change of bank

I am a foreigner (inside the EU) having an account at UBS, feeling a bit unsecure about their future, and currently thinking of trying to move my assets/funds to another Swiss bank, perhaps Credit Suisse. Now, I got ahold of this account through an aqquaintance of mine setting up an appointment in Switzerland for me, getting me the account that way by travelling there and meeting them. Thus, I have no connections at all in Switzerland at all, and I have no idea of how to even approach CS or any trusthworthy private bank that would have me at all. How would I even go about this, and would it help that I would be moving the funds from UBS there, instead of bringing in money from abroad? The total value of the funds moved would be well into 6 figures, if that is of importance.

Any suggestions and thoughts about this in general would be helpful.
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Old 15.04.2009, 17:44
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Re: Change of bank

Oops, apparently I cannot edit my posts, but I would like to add that I would have no real problems travelling to Switzerland again for this purpose.
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Old 15.04.2009, 18:04
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Re: Change of bank

As you may have read in the press, Swiss banks have become a lot more careful and checks on new clients mandatory (against money laundering and terrorist activities).
You will almost certainly have to come to Switzerland to open a new account and identify yourself accurately.
Decide which city suits you best and find the local branch of the bank that appears the most trust-worthy to you. At that stage, call them and ask to speak to a manager, explaining what your problem is. Closing your account at UBS and taking your money elsewhere should not prove too much of a problem, once you have gone through their due diligence procedures (including a rough idea as to how the money came into being in the first place).
Regards.
Lorenza
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Old 15.04.2009, 18:06
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Re: Change of bank

well into 6 figures eh! you are lucky.

depends what you use the account in UBS for? if it as a wealth management/off shore/tax haven facility type thing then getting proof of the amounts you have there and then approaching any private bank (CS included) in CH would probably work. and i'm sure they would love to have you.

in person with proof of identity would probably be best. take a walk down Banhofstrasse in Zurich and take you pick of a bank you like the look of and see what they offer you!

if the UBS account is more of 'current account' type where you are not hiding anything from anyone then simply ask CS for an account, they allow people to open 'offshore' accounts of this type from abroad if you prove your identity and source of funds. then simply transfer the sum and close the account.

with the amounts you are alluding too just ringing someone up on a number on a web page for a bank of your choice and explaining the situation will get you talking to the right people pretty quickly. this is what CH is infamous for! (c;
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Old 15.04.2009, 18:09
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Re: Change of bank

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Oops, apparently I cannot edit my posts
that will sort itself out as you increase your number of posts!
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Old 15.04.2009, 18:27
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Re: Change of bank

When I went to the credit-suisse site recently, it asked me to confirm that I'm swiss resident... never seen that before.
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Old 15.04.2009, 18:32
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Re: Change of bank

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When I went to the credit-suisse site recently, it asked me to confirm that I'm swiss resident... never seen that before.
its been on most of the bank sites that i have visited. can't remember CS. as no doubt you are aware it is to cover their [whats the plural of ass? asses looks wrong (c;] in providing information that could be used for tax evasion in different countries.
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Old 15.04.2009, 19:02
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Re: Change of bank

We just opened our account on Tuesday with Credit Suisse. We looked into UBS but they, as of Tuesday, were not very amenable to opening an account where the only deposits would be by transfer from the USA. (My husband's salary is, and always will be, deposited into a USA account.)

Credit Suisse, on the other hand, had no problem opening an account and providing debit and credit cards, so long as a) we were there in person to open the account and b) we provided proof of our B permits and passports.

As far as opening an account via telephone, i.e. not in person, I cannot speak to ease of execution in the current climate.
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Old 15.04.2009, 19:52
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Re: Change of bank

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I am a foreigner (inside the EU) having an account at UBS, feeling a bit unsecure about their future, and currently thinking of trying to move my assets/funds to another Swiss bank, perhaps Credit Suisse. Now, I got ahold of this account through an aqquaintance of mine setting up an appointment in Switzerland for me, getting me the account that way by travelling there and meeting them. Thus, I have no connections at all in Switzerland at all, and I have no idea of how to even approach CS or any trusthworthy private bank that would have me at all.
Just fill in the account opening form on the website. It will tell you what information you need to supply with the application. I recently opened an account abroad without going to that country. I needed certified passport copies, certified bank statements and certified utility bills. Some banks wanted salary information, so I avoided them. UBS were happy to certify the documents for me. You may also need proof of where the funds came from ie inheritance, house sale, savings from earnings to prove that the funds weren't generated illegally.
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