Case: Opening a private account with a Swiss bank
What was the client's request?
The client's capital was stored in cryptocurrency in a wallet. The requirements were:
- legalisation of capital;
- conversion to fiat currency;
- transfer to a reliable bank for further purchase of real estate.
Why couldn't the client do this on their own?
They already had a standard current account, but they needed an investment solution. Swiss banks strictly regulate the origin of funds, especially crypto assets. Trying to work things out with banks on your own without pre-approval can lead to rejections and delays.
What solution did we offer and why?
- We selected a Swiss bank with an investment focus and a high level of trust.
- We conducted a pre-approval so that the client would know all the conditions in advance.
- We developed an optimal fund transfer scheme:
- transfer of crypto assets to a neobank with an English EMI licence that supports crypto transactions;
- subsequent transfer of funds to an account in a Swiss bank.
Were there any difficulties?
The main difficulty was working with funds originating from cryptocurrency.
Thanks to the pre-approved scheme and partner channels, the procedure went smoothly.
Case duration
Four weeks from the date of application to the activation of both accounts.
What specialists were involved?
Compliance expert (crypto flows and AML);
consultant on international banking law.
Result
The client received:
- a private account in a Swiss bank with access to investment instruments;
- integration with crypto assets through an intermediary neobank;
- a reliable solution for investing and storing capital without personal presence.
