What will happen to your funds if the US bank where you have a relationship closes or merges with another? Do you really feel your funds are safe? After all, should something happen to the institution where you have banked for numerous years, your FDIC insurance will only cover $100,000. If you have more than that amount invested in the bank, you may be in trouble. An alternative may be a Swiss bank account.
If your money is not safe, it really doesn’t matter how much you have. Another question you may have is: are your funds readily accessible should you need to take them out?
We are living in very troubled times in the United States and a major concern of many recently is whether we be able to get to our funds if the bank with whom we have a relationship gets into trouble. Another concern you may have is whether the control that the federal government seems to want to take over our money does indeed happen.
A Swiss bank account may be your answer. Two major Swiss Banks have been around for a long, long time and also will honor discretion. It should be noted that the US Department of Justice has attempted suing a Swiss bank for the names of US clients that they suspect are hiding assets and funds in these banks. To date, they have not been successful, so not only are your funds safe; you can have access to those funds as well.
Two banks in Switzerland worthy of consideration are the Union Bank of Switzerland and the Swiss Credit Bank (Credit Suisse).
The first step is to make contact with them and request the required documentation. As with any bank, your signature will need to be validated by showing the proper identification to the Swiss Consulate or an affiliated bank in the states. The next step is to wire transfer the funds. The bank that you choose may have some alternates for deposit.
A Swiss bank account just may be the safety factor that you are looking for. And for the time being until the United States can provide the safety and security for your money, it may be the best way to go.