In “Swiss Bank Accounts: Steuerflucht oder Service und Qualität?” in the June issue of News ‘n Views, we referred to the research report Swiss Bank Accounts by Professors at the University of St. Gallen.
The question was “why do foreign nationals deposit their money is Swiss banks? Is it because they want to avoid taxes at home or the higher quality and service they get from Swiss banks?
In response to the article, one of our readers wrote:
Some of the main reasons people hold accounts with Swiss banks despite the usually higher costs are
- they do not trust their own governments or government policies (they consider Switzerland safer)
- they do not trust their own currencies
- there are upheavals in their geography (e.g. Middle East)
Good points!
Thanks for the feedback!
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