One of the most important principles of wealth management is the concept of security. A wealth management philosophy that doesn’t include security is like a castle floor-plan that forgot to include the concept of security — it’s worthless.
Fundamental to your financial security is “cash” security — having the ability to actually access your funds, or to have an emergency store of funds, is vital to having any real level of financial security at all. After all, who cares what you’re bringing home every year if you can’t actually access the funding.
In order to enhance your financial security, you might consider learning how to open a Swiss bank account.
Step One: Pick the Bank
There are hundreds of banks throughout Switzerland, but for decades there were only four that were famous for holding currency for foreigners. After a couple of mergers and business-war as usual, these Big Four became the Big Two:
- The Swiss Credit Bank (Zurich)
- The Union Bank of Switzerland (UBS)
You can pick others, of course, but these are the two biggest. For the record, UBS is currently in legal quagmire with the US Justice Department, which is suing them to have access to the financial information of US citizens suspected of hiding assets and funds.
Step Two: Contact That Bank
If you’re still interested in opening the Swiss bank account, you’ll need to actually contact the bank directly. You’ll need to contact them, typically through phone or email, and request that they send you the write papers for you to fill out and return.
You’ll need to have your papers (your signature specifically) authorized by the Swiss Consulate, or another affiliated bank found in the United States or wherever your home country is. This takes a little time, but it’ll pay off in the end with your increased security.
Step Three: Add Your Funding
This is the easiest step. You care wire your money to the account directly, send a money order to the bank, or contact your bank and see if they have any other special options made available to you. If they do, then you can obviously go that route.
In the end, financial security is the foundation of your lifestyle security. And the foundation of financial security is always having a source of funding at your disposal — one of the biggest reasons for you to consider a Swiss bank account.
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