Why Swiss Bank is So Special?

Why rich people from all over the world like Swiss banks to keep their money?

Its main reason, the reputation of Swiss banks in maintaining customer confidentiality. Swiss Bank will not reveal any information to anyone about how much money is deposited in Swiss banks.

The head of the Association of Swiss private bankers Michelle De Robert explained to the BBC a few years ago how the privacy policy works.

The way a doctor or lawyer maintains the confidentiality of his or her client, here is too, he said. A Swiss banker is not obliged to give any information of his customer, it is against of law.

That's why Switzerland has become a major center of world banking services. There are over three hundred banks and financial services providers. Among these, the two largest banks are Credit Suisse and UBS.

How Swiss Bank Protects their Customer's Privacy?

In the movie, the thriller novel or in the media, there is an old-fashioned idea that Anonymous account is opened in Swiss banks.

Switzerland is famous for photo copyright ‘globecartoon.com’ Image caption, cheese and banking. But in reality this is not true.

The Swiss Bankers Association says on their site, there are no anonymous accounts in Switzerland. The bank account of a bank may be identified only by the number, but only a few officers of the real identity bank of this customer will know.

But this tight policy of Swiss banks has eased many in recent years due to pressure from different countries of the world.

Many opted Swiss banks, especially for tax evasion, or to keep money earned through corruption or crime. Many corrupt politicians, businessmen or renowned stars have transmitted money in Swiss banks. Such news has been published in the media over the past several decades.

But the pressure on Switzerland has increased in recent years to take action against such money laundering. From the United States to the European Union, many have demanded that Switzerland's banks must disclose the information of their customers in a special case. They had to admit that they had to give up.

Switzerland became a major center of banking services all over the world, its history is quite long.

It is said that, in the 1930s when the Jews were in the face of correctness of the Nazis in Germany, Swiss banks started their business by keeping them in secret bank accounts.

But before that, in 1934 first Swiss banks made the secret of protecting their customers' law. Some politicians and businessmen in France have kept their huge money in the Swiss bank. That information was leaked from the bank. Then Swiss banks take these steps to protect their customers' privacy.

In the scope of this Privacy Act, the banks of Switzerland are growth with full of flowers. Starting from the corrupt dictator of the Third World, a wealthy merchandise tax evasion of Europe and America, everyone chose to keep their money hidden in the Swiss banks.