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-   -   Keeping Swiss bank accounts after leaving (https://www.englishforum.ch/leaving-switzerland/290929-keeping-swiss-bank-accounts-after-leaving.html)

Feyr 25.03.2019 17:40

Keeping Swiss bank accounts after leaving
 
Is it possible to keep your bank accounts open after leaving?

I've asked around and most banks say no... but then... they don't come knocking on your door to see if you still live there.

Any thoughts on maintaining your accounts after leaving?

Guest 25.03.2019 18:00

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3055359)
Is it possible to keep your bank accounts open after leaving?

I've asked around and most banks say no... but then... they don't come knocking on your door to see if you still live there.

Any thoughts on maintaining your accounts after leaving?


You can do, but when they find out and they almost certainly will find out, the accounts get quickly closed. Various arbitrary expenses are levied by your bank for whatever reason and they then transfer any balance to where you ask it to be transferred (bank to bank) so if the money was undeclared it may give you a further headache.


Unless of course you have multi millions, then they will provide you with a very soft grade of toilet paper......

Feyr 27.03.2019 10:05

Re: Keeping Swiss bank accounts after leaving
 
Quote:

You can do, but when they find out and they almost certainly will find out, the accounts get quickly closed. Various arbitrary expenses are levied by your bank for whatever reason and they then transfer any balance to where you ask it to be transferred (bank to bank) so if the money was undeclared it may give you a further headache.


Unless of course you have multi millions, then they will provide you with a very soft grade of toilet paper......
How will they find out?

roegner 27.03.2019 10:10

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3055814)
How will they find out?


Because you no longer live at the address where you were registered before?

fatmanfilms 27.03.2019 10:19

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by roegner (Post 3055816)
Because you no longer live at the address where you were registered before?

Only if mail is not forwarded, long term mail forwarding is expensive so it's cheaper to pay the 30 CHF a month fees if you only have 1 bank.
As tax evasion is not a crime in CH they won't care on that front.

Feyr 27.03.2019 10:37

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by roegner (Post 3055816)
Because you no longer live at the address where you were registered before?

How often does your bank send someone to your address to check that you live there?

Feyr 27.03.2019 10:38

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by fatmanfilms (Post 3055821)
Only if mail is not forwarded, long term mail forwarding is expensive so it's cheaper to pay the 30 CHF a month fees if you only have 1 bank.
As tax evasion is not a crime in CH they won't care on that front.

Which bank has a 30CHF fee for international customers?

roegner 27.03.2019 10:38

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3055831)
How often does your bank send someone to your address to check that you live there?


Never, but they do send regular mail, donŽt they? So better to set up mail forwarding or pay as FMF said.

Feyr 27.03.2019 10:47

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by roegner (Post 3055834)
Never, but they do send regular mail, donŽt they? So better to set up mail forwarding or pay as FMF said.

Of course I get my mail forwarded. That's what I'm doing with the bank accounts I have in 3 other countries..

roegner 27.03.2019 10:54

Re: Keeping Swiss bank accounts after leaving
 
Well, with your nationality IŽd pay and tell them my new address. If they find out youŽre no longer in the country, they may well block your funds

Feyr 27.03.2019 11:29

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by roegner (Post 3055841)
Well, with your nationality IŽd pay and tell them my new address. If they find out youŽre no longer in the country, they may well block your funds

This is based on the assumption that the bank lets you pay to live elsewhere?

My bank does not formally allow this. Which bank are you talking about?

roegner 27.03.2019 11:36

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3055855)
This is based on the assumption that the bank lets you pay to live elsewhere?

My bank does not formally allow this. Which bank are you talking about?


What do you mean? A lot of banks allow you to keep your bank account even if you no longer live in that country and for that - with some banks - you pay more/a monthly fee

Feyr 27.03.2019 12:27

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by roegner (Post 3055860)
What do you mean? A lot of banks allow you to keep your bank account even if you no longer live in that country and for that - with some banks - you pay more/a monthly fee

I understand. So far I've asked at 3 banks, and 2 of them say no they don't do that, one of them say only if you have 500,000 CHF.

So my question is, which bank do you use which lets you keep your account open for 30 CHF/month.

Guest 27.03.2019 13:21

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3055814)
How will they find out?

Who knows, a simple mistake, something you say, maybe never but also maybe they do and you’ll have to accept the consequences and charges with little to say, apart from, thakyou.

henrikh 27.03.2019 14:06

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3055879)
I understand. So far I've asked at 3 banks, and 2 of them say no they don't do that, one of them say only if you have 500,000 CHF.

So my question is, which bank do you use which lets you keep your account open for 30 CHF/month.

My account was at UBS.
They allowed me to keep my account after leaving CH, on an increased monthly fee, but I don't remember exactly how much it was.
But I think was it less than 30 CHF / month. Maybe 20 or 25. Not sure.

Treverus 27.03.2019 15:47

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3055879)
I understand. So far I've asked at 3 banks, and 2 of them say no they don't do that, one of them say only if you have 500,000 CHF.

So my question is, which bank do you use which lets you keep your account open for 30 CHF/month.

Quote:

Originally Posted by henrikh (Post 3055904)
My account was at UBS.
They allowed me to keep my account after leaving CH, on an increased monthly fee, but I don't remember exactly how much it was.
But I think was it less than 30 CHF / month. Maybe 20 or 25. Not sure.

Guys... those were the old days. In the last ten years have compliance people taken over banking. Paper work for non resident clients has quadrupled and a lot of small fish arent worth keeping. We were informed by our bank that they decided to cancelt our contract about a year and a half after we left the country. Fun fact: It was a staff account, the wife was actually still employed by that bank, just not in CH (!).

Swiss banking is by now something only for private banking clients. And since there is automatic exchange of information is there not much sense in keeping accounts around the world...

henrikh 27.03.2019 16:02

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Treverus (Post 3055941)
Guys... those were the old days.

What I wrote before (I left CH and kept my account at UBS without any issue) was in 2017.

fatmanfilms 27.03.2019 19:42

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3055832)
Which bank has a 30CHF fee for international customers?

Post finance & Credit Agricole. Credit Agricole is about the only option if you don't live in CH & want an account.

Feyr 27.03.2019 21:54

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Treverus (Post 3055941)
Guys... those were the old days. In the last ten years have compliance people taken over banking. Paper work for non resident clients has quadrupled and a lot of small fish arent worth keeping. We were informed by our bank that they decided to cancelt our contract about a year and a half after we left the country. Fun fact: It was a staff account, the wife was actually still employed by that bank, just not in CH (!).

Swiss banking is by now something only for private banking clients. And since there is automatic exchange of information is there not much sense in keeping accounts around the world...

Eh, I personally know people who make 30k a month and pay no taxes, although their money isn't in a Swiss bank, it's somewhere else. Tax evasion isn't dead, it's just stepped up.

Also not everyone wants a separate bank account to evade taxes. You might want to keep your money offshore to protect yourself from civil lawsuits.

Personally, part of my incentive is just the novelty of a swiss banking account, and facilitation of international transfers.

Blueangel 27.03.2019 22:10

Re: Keeping Swiss bank accounts after leaving
 
Quote:

Originally Posted by Feyr (Post 3056045)
Personally, part of my incentive is just the novelty of a swiss banking account, and facilitation of international transfers.

You were told earlier in the thread that the main obstacle is your nationality, and to be frank, I fail to see any novelty in having a Swiss bank account. It's not as if it's a numbered Swiss account, and your savings would a hell of a lot more interest elsewhere.

My partner kept his Swiss accounts open for over 3yrs after he left, and changed his address to the UK with them. Mind you, they were also his employer. 6mths after he closed his accounts, we moved back here :D


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