What is it Really Like to Open a Swiss Bank Account?
Our founder, Dale Janée, lived in Switzerland 3 years after launching Savvy Sleepers Luxe Satin Pillowcases for Hair, Skin & Lashes. As part of our 'Nappuccino Event' this week, she's sharing her experience below about how difficult it is to open a Swiss bank account. Plus, we have the answer if you've ever wondered if you can open a Swiss bank account from the US?
If you've seen the movie Wolf of Wall Street, you may remember Leo's character deciding to open a Swiss bank account in Geneva. If only it was so glamorous in real life, although there were some details that stay true to the movie. Especially the serious vibe of opening the account.
I lived in Zürich for nearly three years and realized quickly how much I took Bank of America ATM's on every corner for granted. Of course, Bank of America doesn't exist in Switzerland and I met expats who had a difficult time opening a local bank account because there are more rules and restrictions for Americans opening bank accounts. But you need one if possible, especially for every day basics like paying rent and buying groceries.
After I got married, because my husband was working in Zürich and already had an account there, I was able to open my account at UBS. Apparently, they are very strict when it comes to Americans opening accounts.
I had no idea how 'serious' the meeting would be opening the account from start to finish. It's not like I had a purse full of gold bars. More like a couple bags of Haribo Goldbären. When you walk into a UBS branch in Switzerland, you are greeted, everyone is professional, and it's clear that privacy is very important. We were escorted to a conference room in the bank...
I couldn't believe the goodies during our meeting which included lots of signatures, Nespresso coffee, a small shot glass of water and Swiss chocolate carefully packaged in UBS boxes. along with sides of sugar and cream. Now onto the bank account details. Unfortunately Venmo didn't work while I was living in Switzerland so to pay people, everyone has an IBAN number and you can simply transfer money to people's account. This would be very difficult if you don't have a Swiss bank account while living there.
So now that we've moved to Dallas, Texas did I get to keep my UBS Swiss bank account? No way! They made me close it within 30 days of moving, but I'll never forget that very official day and the custom chocolate from Sprüngli and cappuccinos at the bank. Thanks for reading and if you're wondering is it possible to open a Swiss bank account from the US? The answer is yes. It just depends on how much you have to deposit into your account. Hint: Gold bars help. :)
Don't forget our Nappuccino Event Ends tomorrow and we can all use a little more sleep after the election stress. Buy 2 - Get 1 Nappuccino Free. Details Here. Our Luxe Satin Pillowcases are ulta-smooth for hair, skin & lashes.