Avoid Red Flags in Bank Account Applications | RB Swiss
How to Avoid Red Flags in Bank Account Applications
Opening a Swiss business bank account requires banks to understand your company, its owners, business activities, and source of funds. Missing or inconsistent information can lead to additional compliance checks and delays.
Keep Ownership and Activities Clear
Banks need to identify shareholders and beneficial owners. Complex structures should therefore be clearly documented and have an understandable commercial purpose.
Your business model should also be specific. Explain what the company provides, where it operates, who its customers are, and how it generates revenue. RB Swiss Group's company formation services can help businesses establish a clear Swiss corporate structure from the beginning.
Document Your Funds
Be prepared to explain where company capital and expected payments originate. Depending on the business, supporting evidence could include contracts, invoices, shareholder funds, loans, or financial statements.
FINMA provides further information on Switzerland's anti-money laundering and due diligence framework.
Keep Everything Consistent
Company addresses, ownership details, expected turnover, countries of activity, and transaction volumes should be consistent throughout the application. Differences between your stated business model and expected account activity can generate additional questions.
Prepare Before Applying
Having corporate documents, identification, ownership information, and financial evidence ready can make the process more efficient.