Swiss financial institutions are required to report information regarding accounts held by clients whose country of tax residence has signed an agreement for the automatic exchange of information with Switzerland to the Federal Tax Administration (FTA).

After receiving this information, the FTA exchanges it with the reportable administration of the client’s country of residence.

Information is only exchanged with partner jurisdictions.

The list of partner jurisdictions can be found by clicking here.

The new Swiss Financial Services Act (FinSA) entered into force on 1 January 2020. With a transition period of two years, most of the requirements will be applicable as of January 2022.

Documents

Are my deposits covered by the deposit insurance scheme?

Yes, like any bank or securities dealer in Switzerland, BankMed (Suisse) SA is required to sign the Agreement by Swiss Banks and Securities Dealers on Deposit Insurance and as such is a member of esisuisse.

Client deposits held with Swiss branches of the bank are protected for up to CHF 100,000 per client, per bank.

Deposits also include medium-term notes held in the name of the depositor at the issuing bank.

All relevant information on the deposit insurance can be found at www.esisuisse.ch

Documents