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. Read the rest of this entry »

Barclays’ offshore banking solutions are often chosen by British expatriates who already have a business relationship with the bank before they leave the UK and who are aware of the bank’s pedigree and reputation. All in all Barclays offshore banking division services the main requirements of the individual and corporate client, and because Barclays have a good industry recognised reputation from Standard and Poors, Fitch and Moodys their offshore and international client base is apparently growing. The focus of the private and premier banking services available from the offshore division of the bank is the provision of a first class service for the management, protection and growth of a client’s wealth. Barclays International and Private Banking Division offer offshore and private banking solutions to those with cross border needs, the Division is a part of the 300 year old UK based Barclays financial institution. Offshore corporate banking services available from Barclays offer corporate clients or intermediaries the ability to streamline cross border trading and banking. Read the rest of this entry »

FICTION: Offshore banking can’t be that good because they can’t really pay the high interest rates they offer. If they could really pay those rates then U.S. banks would try to be competitive and have the same interest rates.

FACT: Examine closely the financial statements of any U.S. Bank. You will see that their “gross” profits against customer deposits can range from 25% to 40% — but — they have laws written in stone to limit the interest amount they can pay customers on their deposits. The U.S. banks place their earnings into unnecessary frills and non-productive expenditures like fancy buildings etc., while offshore banking facilities don’t do this and share their profits with their customers.

Read the rest of this entry »