In the first part of this guide, you learnt about some of the main benefits of Swiss banking. You also discovered how to open a Swiss bank account, and how to use it for savings and investment purposes. In this second part, we deal with making deposits and withdrawals.
Deposits & Withdrawals
How can I deposit money in my Swiss bank account?
Once your account has been opened, you can deposit money to your account in several ways:
* Cash deposit
* Traveller’s check deposit
* Securities deposit
* Transfer from another account
* Receive a bank transfer
* Personal checks
* Bank checks
Selecting the most appropriate method of deposit depends on the amount deposited, the degree of confidentiality desired and the level of convenience.
Can traveller’s checks be tracked?
The issuing bank can discover where traveller’s checks were cashed. In fact, you are always required to reveal your identity when making a purchase with traveller’s checks. Since each check is identifiable by a unique number, it is possible to trace it. However, in practice this type of search is rarely conducted.
Can I make a deposit with a postal order?
At the time of writing this, there are no known restrictions in Switzerland regarding receiving deposits in the form of postal money orders to your Swiss bank account. However, you should verify that the postal system you are using allows you to send money to a foreign bank account.