Difference Between Swiss Bank and Normal Bank
Banks all over the world perform some of the most important functions that are related to our finances. To provide various kinds of financial services which make our lives easier. The primary purpose of banks is holding money for people as safekeeping and lend it to those who need it.
There some banks that are present all over the world and provide their services globally. The most renowned banks are the Swiss Banks and a significant chunk of the world’s deposits are held in these banks.
There are some differences between the normal banks and the Swiss banks that are quite obvious. The normal banks ask you to provide them with your financial details, particularly the details regarding the sources of the funds.
The Swiss Banks do not require their clients to show their sources of funds and will cater to all kinds of clients.
Using a court order, governments can get access to information regarding a clients financial data of a particular bank. However, it is not as easy to get the information from the Swiss Banks who go to great lengths to protect the data of their clients and will only provide it to the authorities if absolutely necessary.
Most normal banks will not accept money that has come from illegal means and will require at least some documentation proving the legality of the money. The Swiss Banks carry a lot of illegal money from all over the world and are not bothered about their means of earning.
Instructions
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Swiss Bank
These are the banks for the rich that offer special safe keeping services as well as long term accounts for holding cash.
There are many options that are available in these banks including special features such as safe deposit boxes that can last for a hundred years or more without being operated or special accounts to which are only accessible with the help of an account number.
These banks are known to be notorious to shield black money and provide protection to people who keep that type of money in these banks.
- Image Courtesy: forexzig.com
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Normal Bank
Normal Banks provide financial services such as safekeeping and lending money to their clients. These banks require proper paperwork as you are required to reveal the source of your funds.
You need to be present in person to operate the bank account in certain cases and will need a signed check in order to withdraw funds. There are procedures in place that must be followed.
- Image Courtesy: online.wsj.com
