Are Swiss bank accounts still private?

Private from the public and private litigants, yes. Private from tax authorities, no. Switzerland participates in CRS and complies with FATCA, so a US person's account information is reported to the IRS automatically.

Does a Swiss account protect assets from creditors?

Not by itself. An account in your own name is still an asset a creditor can pursue and a court can order repatriated. Swiss stability complements an asset protection structure but does not replace one.

Can US persons open Swiss accounts?

Yes, though fewer banks accept Americans due to FATCA compliance costs. Those that do require full US tax disclosure. See our page for US persons.

Why use a Swiss account then?

For stability, wealth preservation, currency diversification, and discretion from the public. The strongest use is as the banking layer beneath an offshore trust or LLC that owns the account.

Does a Swiss account reduce my taxes?

No. A US person reports Swiss account income and pays US tax on it. FBAR and FATCA reporting apply. Swiss banking offers stability and preservation, not tax reduction.

What is the minimum to open a Swiss account?

It varies widely by bank, from modest amounts at some institutions to several hundred thousand or more at private banks. See our how-to-open page for detail.

Should the account be in my name or a structure's?

For asset protection, held by an offshore trust or LLC rather than personally. This combines Swiss stability with the jurisdictional separation that protects against enforcement.

Swiss Bank Accounts | Complete Guide 2026

Q: Is Swiss banking secrecy gone?

The form that shielded accounts from foreign tax authorities has ended. Swiss law still strongly protects account information from the public and casual inquiry, but not from a tax authority entitled to it.

What a Swiss account offers

Switzerland has been the world's benchmark for private banking for over a century, and the core of what it offers is unchanged: exceptional political and economic stability, a strong currency, deep expertise in wealth preservation, and a banking system built around protecting and growing capital over generations. For clients whose priority is stability and preservation rather than yield, a Swiss account remains a serious option. What has changed is the secrecy dimension — and understanding that change is essential to using a Swiss account correctly.

What changed with banking secrecy

Swiss banking secrecy, in the form that shielded account information from foreign tax authorities, has ended. Switzerland now participates in the OECD Common Reporting Standard and complies with the US Foreign Account Tax Compliance Act. A US person's Swiss account information is reported to the IRS automatically. The privacy that remains is real but narrower: Swiss law still strongly protects account information from the public, from private litigants, and from casual inquiry. It no longer shields anything from a tax authority entitled to the information. Anyone choosing Switzerland for secrecy from the IRS is working from an outdated picture that no longer exists.

Banking vs asset protection

A Swiss bank account is a place to hold wealth, not a structure that protects it from creditors. An account held in an individual's own name — however stable the bank — is still an asset a determined creditor can pursue, and a US court can order the individual to repatriate. The stability and discretion of Swiss banking complement an asset protection plan; they do not constitute one. The strongest use of Swiss banking is as the banking layer beneath a proper structure — an offshore trust or LLC that owns the account — combining Swiss stability with the jurisdictional separation that actually defeats enforcement. See offshore asset protection for the structures.

In this section

Swiss bank accounts for US persons — access, FATCA, reporting, and which banks accept Americans
How to open a Swiss bank account — the process, documentation, and minimums

General information only. Confirm current banking and reporting requirements with the specific bank and a qualified CPA.