Hi all,
I am an European citizen who recently settled in Switzerland after working in quite a few European countries. I am now considering buying an apartment in Switzerland.
Because I worked all over, I have several bank accounts scattered all around Europe, each holding my savings of 2-3 years. Also, my parents intend on giving me some money as well. All this electronic cash needs to be brought back to Switzerland. If I do simple IBAN transfers, what kind of scrutiny should I expect? I don't think there is anything illegal in transferring large amounts of money like that, and the money was certainly acquired legally, but at the same time I am guessing it could look like money laundering?
Can anyone point me to some guidelines? What would a banker consider suspicious?

Anything over US$ 10'000 needs to be scrutinised. It depends on where the money has come from as to how much scrutiny!

My experience is that Swiss banks don't care but we had our sterling account blocked twice after transferring the proceeds from sale of our house and then our savings. They wanted proof of the house transaction and our salaries.

You will have to declare the source, and may have to provide evidence. I did, when I paid £26K in cash into a UK bank.

Our tax consultant as well as the banker told us that we can bring upto CHF 100,000 into Switzerland....no questions asked. Any amount above that will be subject to a small tax but don`t think any questions will be asked. The Swiss banks don`t care how much you bring in!!

You can also talk to the bankers here and they will guide you along. We talked to 2 different banks and they gave us some good adv.

agreed. Im my experience no one cares.

Well I hope the AMLO of the bank you're transfering money to doesn't see this! Cos it sounds dodgey as!

Why would you assume it would look like money laundering if you know full well that it's you're own money that you rightfully earned and saved for 2-3 years... The only reason anyone would think it might look like money laundering is if it actually is! We are not money laundering experts here and I certainly don't want to implicate myself in aiding a money laundering operation!

It is not only the banks that will ask.

Where are you declaring your taxes and have all these small accounts been fully declared previously?

CH taxes are on all global assets. Although in itself the additional tax you may pay may not be that great, you do run the risk of being fined, on top of a request for back taxes, if the authorities think you are trying to pull a fast one.

Clearly donations/inheritance falls outside of funny business, however, it still needs to be declared.

It really does depend how much you are talking about. That said, I've transfered amounts up to 10,000 CHF without any queries.

Indeed I transfered money from the UK to a value of 50,000 CHF without questions asked by the bank. But these have been from UK mainlaind (vs. off-shore accounts) to CH accounts, and I was a customer for several years prior to this.

In my experience, it is a legit question posed by the OP.

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