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  #21  
Old 04.09.2019, 13:58
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Re: Bank recommendation

The problem is, now the bankers can go to jail if the account is miss-handeled or miss used so all the bankers are scared of opening accounts for non domiciled persons. Too compensate, the charge fees to discourage you and make it very difficult for people worth less than 20 mio
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  #22  
Old 04.09.2019, 14:05
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Re: Bank recommendation

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Never had an issue with this. You merely need to provide a CH mailing address. Plenty of people do it and we personally know several.
And I know Swiss people who tried this when moving abroad while maintaining a Swiss address, and it didn't work.

Tom
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  #23  
Old 04.09.2019, 14:28
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Re: Bank recommendation

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Never had an issue with this. You merely need to provide a CH mailing address. Plenty of people do it and we personally know several.
So involved in election fraud and bank fraud, anything else you'd like to tell us about.

OP, do not do as suggested here - as several others have pointed out, it is an incredibly stupid idea and could potentially land you and others in jail or massively out of pocket.

Maybe see if your Swedish bank will let you open a CHF account and use your maestro card when visiting here.
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Old 04.09.2019, 15:45
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Re: Bank recommendation

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Do you actually have real examples of what you are hinting at
Yes.
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Not notifying the bank on changes (and that includes your residential address) can easily lead to having your bank account blocked.
Fully aware of this. Though there it needs to be said that if you have special arrangements it's a different story. Moreover, the bank actually has to check residence, if this is not EVER done, how are the bank going to know?!
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And I know Swiss people who tried this when moving abroad while maintaining a Swiss address, and it didn't work.
This is quite possible. Our experience has been the opposite to yours.
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So involved in election fraud and bank fraud
Wrong! As usual you are incorrect - and on both counts.
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  #25  
Old 04.09.2019, 15:48
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Re: Bank recommendation

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Wrong!
Wrong is giving unqualified advice to the OP who could face severe sanction, had they followed your ridiculous advice.

Have a word with yourself and avoid pontificating on subjects about which you clearly have very little knowledge.

Better to remain silent and have people think you a fool, than open your mouth and remove all doubt.
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  #26  
Old 04.09.2019, 15:51
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Re: Bank recommendation

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I'm not domiciled in Switzerland, but spend quick a bit of my time there, so I thought it would be convenient to also have a transaction account there. I've been in contact with PostFinance and they seems to be willing to open an account for me, but they have an extra fee of 25 CHF per account for non-domiciled persons. So I'm wondering if there are any better alternatives? I'm not interested in a virtual bank, like Revolut and the like. But looking for a traditional bank with CHF and EUR accounts and possibility to interact with them in English.
The 25chf for postfinance is the cheapest I know of. but maybe someone knows something cheaper.
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Old 04.09.2019, 15:58
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Re: Bank recommendation

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Fully aware of this. Though there it needs to be said that if you have special arrangements it's a different story. Moreover, the bank actually has to check residence, if this is not EVER done, how are the bank going to know?!
The "special conditions" are usually only afforded to those high net worth people, not the run-of-the-mill current accounts. If you have those "special conditions" the bank usually sends out KYC requests periodically so any falsification is quickly found out.

Can you please share actual facts of the conditions of these accounts (maybe the type of account run by PF?) of these "friends" of yours in order to add some substance to the thread otherwise it's just meaningless.

Asking "how are the bank going to know" is pretty naive, though, especially in these modern times of super-careful regulating. If the bank is even mildly suspicious that stuff doesn't stack up it will block the account if it doesn't receive a satisfactory answer.

A returned mail is enough to do this.
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  #28  
Old 04.09.2019, 16:03
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Re: Bank recommendation

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The "special conditions" are usually only afforded to those high net worth people, not the run-of-the-mill current accounts. If you have those "special conditions" the bank usually sends out KYC requests periodically so any falsification is quickly found out.

Can you please share actual facts of the conditions of these accounts (maybe the type of account run by PF?) of these "friends" of yours in order to add some substance to the thread otherwise it's just meaningless.

Asking "how are the bank going to know" is pretty naive, though, especially in these modern times of super-careful regulating. If the bank is even mildly suspicious that stuff doesn't stack up it will block the account if it doesn't receive a satisfactory answer.

A returned mail is enough to do this.

And nowadays you need to add your TIN before any account is opened. That will clearly give away your home country.
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  #29  
Old 04.09.2019, 16:20
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Re: Bank recommendation

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And nowadays you need to add your TIN before any account is opened.
Do you have a reference for that at all? I feel this is another generalization as I have not seen this on the forms for opening accounts. If the field was there, it certainly wasn't mandatory.
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  #30  
Old 04.09.2019, 16:30
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Re: Bank recommendation

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Do you have a reference for that at all? I feel this is another generalization as I have not seen this on the forms for opening accounts. If the field was there, it certainly wasn't mandatory.
https://www.ubs.com/global/fr/about_...l-clean-en.pdf

Since the automatic exchange of information came into force in 2017 this has been a requirement for new account holders..
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  #31  
Old 04.09.2019, 16:31
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Re: Bank recommendation

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Do you have a reference for that at all? I feel this is another generalization as I have not seen this on the forms for opening accounts. If the field was there, it certainly wasn't mandatory.
Tax Information Number

Nothing secret or unusual. On most basic account opening docs.
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  #32  
Old 04.09.2019, 16:34
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Re: Bank recommendation

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Since the automatic exchange of information came into force in 2017 this has been a requirement when opening new accounts.
This may explain why we were not asked for this, as the last account that we opened was just before this came into force.
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Tax Information Number Nothing secret or unusual. On most basic account opening docs.
I never said it was secret or unusual. Prior to 2017 though this was definitely not required.

Last edited by Clocker; 04.09.2019 at 16:55.
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  #33  
Old 04.09.2019, 16:38
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Re: Bank recommendation

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This may explain why we were not asked for this, as the last account that we opened was just before this came into force.I never said it was secret or unusual. Prior to 2017 though we this was not required.
They are asking for it retrospectively. Again, it might depend on your type of account, but their compliance will be working its way round.

We've got accounts going back years and years and we've had to reach out to them to get them to fill in the info.
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  #34  
Old 04.09.2019, 16:39
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Re: Bank recommendation

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This may explain why we were not asked for this, as the last account that we opened was just before this came into force.I never said it was secret or unusual. Prior to 2017 though we this was not required.
Nobody said that. And now it is a requirement and it was widely published.
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  #35  
Old 04.09.2019, 16:42
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Re: Bank recommendation

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The "special conditions" are usually only afforded to those high net worth people, not the run-of-the-mill current accounts.
Exactly - usually. This is the key word. There are always exceptions. The accounts I know of are basic/current accounts and some have been open for nearly 20 years.
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Nobody said that.
Nobody said what?
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And now it is a requirement
This has already been said, so already aware.
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Old 04.09.2019, 17:16
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Re: Bank recommendation

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Exactly - usually. This is the key word. There are always exceptions. The accounts I know of are basic/current accounts and some have been open for nearly 20 years.
So, just to recap, you know people who no longer live in Switzerland, who still have their bog-standard current accounts with PF they took out 20 years ago and they don't need to maintain a minimum balance and they don't get charged for them because the bank still thinks they are resident in Switzerland, and has no clue that they left?

Is that a fair summary?

If this is the case it's not an "exception". The account holder hasn't declared their new location to the bank. Pure and simple.

I hope they didn't move to the US.
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  #37  
Old 04.09.2019, 17:29
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Re: Bank recommendation

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This may explain why we were not asked for this, as the last account that we opened was just before this came into force.I never said it was secret or unusual. Prior to 2017 though this was definitely not required.
Well we’re not prior to 2017 anymore!

It’s better to say nothing at all than to give out erroneous information, especially something which may land the OP in hot water.
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  #38  
Old 04.09.2019, 17:34
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Re: Bank recommendation

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So, just to recap, you know people who no longer live in Switzerland, who still have their bog-standard current accounts with PF they took out 20 years ago and they don't need to maintain a minimum balance and they don't get charged for them because the bank still thinks they are resident in Switzerland, and has no clue that they left?
Is that a fair summary?
If this is the case it's not an "exception". The account holder hasn't declared their new location to the bank. Pure and simple.
I hope they didn't move to the US.
One of them (a relative of mine from the UK) has never even lived in Switzerland, but does own inherited property here. The account (a standard PF current) has always been domiciled at our address, so when we moved each time, that account moved with us. The property is rented out and the rent is paid into this account so it's not dormant. There's a fair bit of money in the account, but not millions.

My husband had a standard PF account for several years. We didn't have to provide proof of residence or a TIN to open it. We only closed it because we no longer thought it worth it with the introduction of fees in January this year.

Another couple of accounts are domiciled with us for colleagues. One in the UK, one in Italy. Both want to keep Swiss accounts with money in but not pay the ridiculous CHF 25 per month. I don't blame them. One has PF only (but several accounts in different currencies), the other has PF and another bank.

None of them moved to the US, so no issue there.
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  #39  
Old 04.09.2019, 19:33
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Re: Bank recommendation

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Correct. Only those who sign up to the account whilst actually resident will be within the law I think. What happens afterwards though is another matter. I am quite sure a lot of people leave and the account stays open without a change of address, at least not an immediate one.
Residence however can be obtained essentially by being here for a minimum of one day and if you open the account on that day you'd be within the rules. Any stay of up to 3 months doesn't require a permit either, so no permit will be needed for the bank either.
Total nonsense. If a bank discovers this they will simply freeze it and report it as a money laundering suspect and good luck trying to get it back. Your choice, your money at risk.
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Old 04.09.2019, 19:54
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Re: Bank recommendation

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Do you have a reference for that at all? I feel this is another generalization as I have not seen this on the forms for opening accounts. If the field was there, it certainly wasn't mandatory.
This thread refers: https://www.englishforum.ch/finance-...on-number.html
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