Why swiss Bank is Famous for Black Money?

Hello everyone, here we are going to talk about Swiss Bank. When a person hear the name of this bank the only thing that come to our mind is Black Money. When any kind Fraud occur we hear the name of Swiss Bank and Government also tell that he is going to bring all the black money from Swiss Bank.

Swiss Bank is located in Switzerland and was established in 1872 as Basler bankverein. According to Switzerland banking law bank officials cannot disclose the name of account holder name unless and until Swiss court order them. Swiss court give the order only when there is a criminal charge on account holder name for example money laundering, fraud etc. The account in Swiss Bank are secretive account. Anyone who open a bank account in Swiss Bank he has to complete his KYC as normal bank do. But they never reveal the identity and address of account holders name. The account is in coded digits. In bank statement the account holder name is also not disclosed to any one.

Here Swiss Bank keep all the secrets. Therefore many people prefer to open a bank account in Swiss Bank. Many countries had opposed the method of Swiss Government. But Swiss Government never listen to them. UBS and Credit Sussie are two Swiss bank present in Switzerland where most of the people open their bank account but there are more than 400 Swiss Bank are present.

Most people open their bank account in UBS and it has more that $2.5 trillion amount of money in it, which is nearly equal to India's GDB. Swiss Bank has high liquidity because they don’t involve in commercial loan. Here the chance of liquidity crush is very low. Therefore money are very safe in Swiss Bank. One of the benefits of Swiss Bank is Swiss franc currency which is very stable because Swiss government wants to neutral in world wide political conflicts. Therefore the don’t give any interest to their account holder else they charge fee from account holder.

Minimum deposit of Swiss Bank is $50,000. Many people open a account because they want to their black money. Basically they need a Agent who need to change the Indian rupees to Swiss franc and keep it in Swiss Bank. Practically it is very difficult to bring the black money to India.

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