| There is a common misconception that
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| | to refrain from making any business
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| people who cannot store their unaccounted
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| | transaction through their Swiss accounts,
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| wealth in their own country open accounts
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| | to keep their account privacy
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| in Swiss banks. Even though this may be
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| | intact.DepositA security deposit is
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| true to an extent, Swiss banks are well
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| | needed in case the customer wants to
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| known for their sophisticated and
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| | obtain a credit card. Approximately 1.5
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| discreet banking services.Many of the
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| | to 2 times the monthly credit limit is
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| rich and famous like film stars, business
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| | demanded, depending on the bank the
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| entrepreneurs, top government officials,
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| | customer chooses. This deposit is
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| presidents, etc, are reputed to have
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| | returned when the customer decides to
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| Swiss bank accounts. Then again, it is
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| | discontinue the credit card, and has paid
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| also said one need not be a
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| | all outstanding
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| multi-millionaire to open a Swiss bank
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| | bills.ConfidentialityThere are legends
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| account.Brief Background of the Swiss
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| | about mysterious numbered accounts in
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| Banking SystemOne of the most prosperous
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| | Swiss banks. Some high security bank
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| and economically advanced nations,
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| | accounts are given pseudonyms or special
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| Switzerland has the world's largest gross
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| | names instead of issuing them in the name
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| domestic product (GDP). There are nearly
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| | of the customer, to preserve the
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| 400 banks in Switzerland, which range
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| | anonymity of the customer. This number or
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| from the "Two Big Banks", to smaller
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| | name is used wherever the customer is
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| banks, serving single communities or
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| | referred. Moreover, even bank employees
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| selective clients. Considered as the
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| | are expected to respect the customer's
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| world's largest offshore financial
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| | privacy, the failure of which could land
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| center, the Swiss banking sector is
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| | them in prison for several
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| renowned for its privacy, stability and
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| | months.However, Swiss banks, being very
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| protection of their customer's
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| | particular about preventing money
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| information and assets. The Federal
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| | laundering, crosscheck the authenticity
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| Banking Commission (FBC) regulates these
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| | of the information provided by the
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| banks.Opening a Swiss AccountOften freely
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| | customer. If, during the scrutiny, the
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| available, a Swiss bank account provides
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| | bank finds the information of a potential
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| total confidentiality, strict privacy,
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| | or existing customer connected to some
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| and is tax-free. However, certain
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| | criminal activity, a Swiss judge or
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| documents are required as proof to open a
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| | prosecutor issues a lifting order. These
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| Swiss account. For example, people who
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| | investigations could include
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| are not residents of Switzerland need to
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| | international criminal investigation for
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| furnish their passports, along with a
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| | tax fraud, insider trading, or the
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| passport size photograph. Depending on
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| | infamous terrorist financing of recent
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| the profession, a current bank statement
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| | times.Closing of an AccountDespite a few
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| would be required to determine the
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| | negative notions about Swiss banking,
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| client's current financial condition.
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| | closing an account is said to be easier
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| Along with this, certain personal
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| | than expected. No financial penalty is
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| information, like the date of birth,
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| | demanded, and neither is the money held
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| country of origin, etc., is also
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| | hostage, like it is done in other off
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| required.A useful feature of Swiss
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| | shore banking.To conclude, the secrecy
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| banking is that it can also be done via
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| | and discreet nature of Swiss banking
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| correspondence as long as the customers
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| | makes them convenient and dependable.
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| follow bank rules and regulations. The
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| | This not only helps customers to save
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| bank and customer could interact through
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| | money, but also is a viable means of
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| the Internet, telephone or snail
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| | attaining economic superiority in the
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| mail.However, a drawback of Swiss banking
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| | business world and society as a whole.Joe
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| is that non-residents are expected to pay
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| | Kenny writes for the Credit Card Guide,
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| a hefty amount as deposit, and, the
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| | offering the latest UK credit cards,
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| smaller accounts are more expensive to
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| | visit today for introductory 0% balance
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| maintain. There is a clause especially
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| | transfers and start clearing credit card
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| for US citizens wherein they are expected
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| | debt today.
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