What exactly is a Swiss bank account?

They're not just for VIPs or the deposed prince of Zamunda. Anyone, as long as you're 18 years old or older and relatively well-off, can have an account. You don't have to personally go to Switzerland to open one; many banks let you mail or fax your information. But most require you have a minimum balance, ranging from a few thousand to the millions.

Neither the bank officers or employees can give away any of your personal data, not even to the Swiss government, except when drug trafficking or the like is associated with the account. Breaking this law results in very steep penalties. This idea was reinforced when Hitler declared that any German holding money in foreign banks would die. Swiss bankers became even more secretive.

Plus, Switzerland's economy doesn't have the dramatic, emotional whirlwind, we-got-three-minutes-to-live, GET TO DA CHOPPA structure that some other countries (right here) do. Other than being really stable, they haven't gone to war since 1505. So they're also really boring. In the event of a bank failure, you're guaranteed all your money, thanks to the Depositor Protection Agreement governed by the Swiss Bankers Association. It's like the FDIC on steroids.

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