Why do the rich put their money in Swiss banks? The reason is exposed

UBS manages the largest private wealth in the world, with half of the world’s billionaires as its clients. The main reason why the rich want to put their money here is that it is arguably the safest bank in the world, and why it is the safest is clear when you look at where UBS’s vaults are located.

Headquartered in Zurich, Switzerland, UBS has been the largest banking group in Europe in terms of assets since 2002. With more than 140 years of wealth management experience and a vast network around the world, they have a special benefit in terms of confidentiality.

Swiss banks are only subject to international court checks and no other country has the right to access their clients’ information. It is also possible to open anonymous accounts, which means that even bank employees do not know the identity of their clients.

This is a very safe feeling, which is why many people often associate it with money laundering and tax havens. After 2014, however, Switzerland sent out a message that it was willing to automatically hand over details of foreigners’ accounts to other countries. This is in order to jointly combat tax evasion, provided that the information exchanged is only relevant for tax purposes.

What makes Swiss banks safe actually has something to do with the country in which it is located, which is not very big. However, it is a permanently neutral country and will not be affected by war. Naturally, property here will not be lost due to war.

Switzerland’s location makes it easy to defend and difficult to attack, and it is also just between the four countries of Germany, France, Italy and Austria. No matter who wants to take down Switzerland, the other three countries will not sit idly by.

(Swiss bank import gate)

World War II was the fastest growing period for Swiss banks. Although there was little money in Switzerland at that time, many nobles went to live there. This place is undoubtedly a good place to hide money, the security of a neutral country, and not afraid of being privately swallowed by the local. So many people have been depositing their money in Swiss banks, thinking that the end of the war can also have a retirement money.

The two wars have made Switzerland an international financial center, and no one will ever touch Switzerland again. The Swiss banks in Switzerland are naturally safe, whether it is the Jews or the Germans, everyone has money here, moving is moving the interests of everyone.

Why is the Swiss bank the safest bank in the world? You see where the vault is built, you will understand.

Why do you say that Swiss banks are the safest banks in the world? You see where the vault is built, you understand. (Image source: Adobe stock)

The last thing you need to look at is where the Swiss banks’ vaults are located. Switzerland has spent the better part of a century digging holes for security purposes, building over 7 million square meters of underground bomb shelters. There are thousands of these bunkers, which also have everything, and the level of protection is said to be anti-theft and radiation.

But with the end of the war, in order to save money, part of the military bunkers were closed. Swiss banks are very clever, it funded the acquisition of some of the unwanted, and in the Alps near and international certain places built a large number of underground vaults, bunkers and storage facilities used as their own vaults, for the preservation of its control of gold bullion.

World War II to get the deposit can be put in, in the depths of the ground is the safest, can not find and can not take out. Inside, even if there is a network, but also the highest level of protection, these are the source of the security of the Swiss banks, mainly because of the location is good.

The Swiss banking group has gained a huge share internationally and has excellent brand loyalty because of its reputation for strong capitalization, customer confidentiality policies and banking discretion. Likewise, UBS has been criticized for its promotion of tax non-compliance and offshore finance.