Numbered Accounts
Numbered accounts ensure a high level of security since it will use a number instead of your name for all bank communication. This means that your bank statement will not show your name; instead it will be replaced with a code number or a pseudonym. Under the Swiss Law this is absolutely legitimate provided your Swiss bank is aware who the owner of the account is. This greatly enhances your financial privacy. You are assigned a personal banker once you open an account and only the higher management officials in Switzerland and your personal Swiss banker will know the true identity of the account holder. One thing to notice is that whether it is a personal name account or a numbered account, Swiss banking rules handle both types of accounts with equal respect and maintain the same set of secrecy laws for both.
High regard and respect for personal property is what distinguishes Switzerland from others. The Swiss Government will not repossess or freeze assets based on Legal Fishing Missions from Overseas Attorneys.
One of the exceptions, however, is that the Swiss Banking Secrecy law does not protect account holders and their funds if the client has committed a criminal offense as recognized by the Swiss law.
Here is a list illustrating how a numbered account enhances your financial safety:
- Only a few people know the identity of the account holder. Everyone else at the bank only sees the code number.
- When a transfer is requested to any bank around the world, in case of a numbered account, it would only mention: “By order of one of our clients”. No name is sent to the receiving bank.
Non-residents can also open a Swiss account. However, they will be subjected to their own country’s regulation with respect to foreign bank accounts. Although there is no legal restriction in Switzerland which prevents any non-Swiss client from opening an account with a Swiss bank, residents of some countries may be forbidden by their own nation to have such accounts.