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Open bank account with BSI Bank my review / experience!!

lavel

lavel

Offshore Agent
Mentor Group Gold
Sep 6, 2012
818
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#1
Being one of the oldest banks in Switzerland, I had no doubts securing my assets with Banca della Svizzera Italiana (BSI) Bank. I have been with them for 5 years and I have to say they have taken care of my investments well. Members of my family have been with the bank even longer and continue to stay with them until today.


Despite the constant change in world currencies and economic stability, this bank has remained stable and has even increased their net profit and client profit based on their annual reports as I have easily viewed on their website.


Transparency is highly valued by clients like me. Aside from providing personal banking services, BSI Bank specializes in asset management for both their private and institutional clients. In fact, investment and wealth management is the primary service they provide. They are not just a bank, but a financial institution with various offerings such as financial counseling, pension options, insurance products, portfolio management, Lombard loans, Residential mortgages, corporate financing, and other personal banking solutions.


Being a private banking client myself, I have personally experienced the security and simplicity of their banking process. Over the counter transactions are fast and easy but they also offer an e-banking service called BSI e-Connect which allows for a convenient viewing of my accounts and doing fast transactions online at any time of the day. It is very convenient. It is a very safe and secure way for me to do online transactions 24/7. Exclusive content for the invalid1c forum.


This means I can get some work done even when I wake up at 4 am and the connection is free of charge. The e-connect online site interface is very simple and professional-looking so it is easy for me to navigate and understand. They also have the BSI EAM (or external asset management) which can be also be accessed online. This gives me an easier way to manage stock market transactions online.


I have not tried their financing services yet but I have received assistance with the processing of their Lombard Loans. Their bank representatives are very professional and will assist you every step of the way. I like the fact that they have greater flexibility when it comes to penalties.Exclusive content for the invalid1c forum.


They have several branches located in strategic places such as Milan, Zurich, Geneva, Malta and several other areas, but their main branch is located in Lugano. Visiting a branch is probably the most reliable way to transact any important and urgent business with them. However, what I would appreciate more is an easier way to get in touch with any bank representative in case I am abroad and have some concerns regarding my accounts. They may need to add additional online features that will enable clients to get in touch with them even on mobile.


Being the oldest bank in Switzerland, BSI is already considered an institution in the Swiss banking industry. I believe any investor would not hesitate to put their money on one of their financial products and services. Their banking strategies and approach are also very traditional; true to their roots, they uphold the principles of old banking culture that is based on trust. They strive to get to know their clients well and assist them in any way they could, even when it comes to investment decisions. Exclusive content for the invalid1c forum.


I am very satisfied with how the bank has handled my accounts and with the security they have provided my assets. It is safe for me to say that like the rest of my family, I will be staying with BSI for my banking needs for a very long time.


Visit the bank website https://www.bsibank.com/
 
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#2
Thank you for the review, seems to be quiet good to bank with them. Your support is much appreciated :)
 
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#5
Another bank I will try once I'm ready with my company setup. That's a lot of great review's here.
 
#6
Transparency is highly valued by clients like me. Aside from providing personal banking services, BSI Bank specializes in asset management for both their private and institutional clients. In fact, investment and wealth management is the primary service they provide. They are not just a bank, but a financial institution with various offerings such as financial counseling, pension options, insurance products, portfolio management, Lombard loans, Residential mortgages, corporate financing, and other personal banking solutions.
Click to expand...
How do they handle this particular advertised service? I mean, what do they charge for it and what guarantess and insurance are in place?
 
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#8
How do they handle this particular advertised service? I mean, what do they charge for it and what guarantess and insurance are in place?
Click to expand...
They have the international required banking insurance guaranetees in place covering the mandatory EUR 20,000 for each person if not even EUR 100,000 not sure about it. No risk using them if you ask me.


More info from Wiki you can find below: [h=4]By EU country[/h] As from October 2008, many EU countries were in the process of increasing the amounts covered by their deposit insurance schemes. Since these amounts are typically encoded in legislation, there was a certain delay before the new amounts were formally valid. Countries have varied in their approach; some have permanently increased the amount, while others have implemented temporary measures. [6]


BelgiumEUR 100,000 (*)100% Fonds de Protection / Beschermings Fonds / Protection Fund [12]Previously 20.000 EUR before 2009.
BulgariaEUR 100,000100%December 31, 2010Bulgarian Deposit Insurance FundSavings limit was EUR 51,129 in the period: April 15, 1998 ? December 31, 2010. Effective from 31 December 2010, the limit is 196,000 BGN (100,000 EUR). Article 23 (7) of the Bank Deposit Guarantee Law says that the guaranteed amount for foreign currency deposits shall be paid out in Bulgarian levs (BGN) calculated using the Bulgarian National Bank's exchange rate on the first day of paying out of guaranteed deposits.
CyprusEUR 100,000100%September, 2000Deposit Protection Scheme
Czech RepublicEUR 100,000100% Deposit Insurance FundPreviously (since 2002), the insured amount was 90% of deposits up to EUR 25,000; in 2008 it was increased to 100% of deposits up to EUR 50,000. Effective 2011, the limit was increased to EUR 100,000. Credit unions covered since 2006.[13]
DenmarkOrdinary deposit guarantee scheme applies after September 30, 2010, covers up to DKK750,000100% Garantifonden for indskydere og investorer, The Guarantee Fund for Depositors and Investorshttp://www.indskydergarantifonden.dk


For the two-year period from October 5, 2008 to September 30, 2010 an unlimited governmental guarantee for deposits has been added.[14][15]
FinlandEUR 100,000100%1998Deposit Guarantee FundIncreased from EUR 25,000 to EUR 50,000 on October 8, 2008[16] and to EUR 100,000 on January 1, 2011.[17]
FranceEUR 100,000[18]100%25 juin 1999Fonds de Garantie des D?p?ts (FDG)Unlimited state guarantee?


Following the Irish legislative change to unlimited state guarantee, and the German announcement of unlimited support, the French President declared on 13 October 2008 that "The government will not let any French bank fail",[19] in a speech that was posted on the official website www.gouvernement.fr. This political commitment has so far held (rescue of the Franco-Belgian bank DEXIA)
GermanyEUR 100,000100%Jan 01, 2011

  • Private Banks: Entsch?digungseinrichtung deutscher Banken GmbH (EdB)
  • Public Banks: V?B-Entsch?digungseinrichtung GmbH
  • Brokerage companies: Entsch?digungseinrichtung der Wertpapierhandelsunternehmen (EdW)
The 4 banking associations run voluntary additional guarantee schemes, which go beyond the European minimum of EUR 100,000.


For instance for BdB member banks, "The protection ceiling for each creditor is 30% of the liable capital of the Bank..."[20]


An unlimited state guarantee was announced in October 2008 (and extended in July 2009). The legal details are nevertheless unclear.[21] "It is a political declaration" said Torsten Albig.[22]

  • Bundesverband deutscher Banken BdB (for private banks)
  • Bundesverband ?ffentlicher Banken Deutschlands V?B (for public sector banks)
  • Bundesverband der Deutschen Volksbanken und Raiffeisenbanken BVR (for co-operative banks)
  • Deutscher Sparkassen- und Giroverband DSGV (Savings banks)
GreeceEUR 100,000100%October 2008 Was 20,000 EUR, increased in October 2008
HungaryEUR 100,000100% National Deposit Insurance Fund (NDIF)
IrelandUnlimited[23][24] September 2008Central Bank and Financial Services Authority of IrelandAmount raised to unlimited in September 2008
ItalyEUR 100,000100%March 24, 2011 (effective May 7, 2011)Fondo Interbancario di Tutela dei Depositi (FITD)Amount decreased from EUR 103,291.38 (ITL 200,000,000).[25]
NetherlandsEUR 100,000[26]100%October 7, 2008DepositogarantiestelselBefore October 7, 2008 coverage was 100% of first EUR 20,000, 90% of next EUR 20,000 (hence a compensation of up to EUR 38,000).
PolandEUR 100,000 (corresponding amount in PLN)[27]100%30 December 2010Bankowy Fundusz Gwarancyjny (BFG)Amount raised from EUR 50,000 on 30 December 2010
PortugalEUR 100,000100%November 2008Fundo de Garantia de Dep?sitosAmount raised from EUR 25,000 to EUR 100,000 in November 2008.[28]


Provisions of Decree-Law Article 166 says "According to article 12 of Decree-Law No. 211 ? A/2008, of 3 November 2008, until 31 December 2011, the limit shall be increased from ? 25,000 to ? 100,000". Article 2 of the Decree-Law No. 119/2011 set the limit of ?100,000 as permanent [29]
SlovakiaEUR 100,000100%1 November 2008Deposit Protection FundCredit unions are not covered.[30]
SloveniaEUR 100.000100%July 28, 2010Slovene: Banka Slovenije, the central bank of the Republic of Slovenia[31]


The Bank of Slovenia joined the Eurosystem in 2007, when the euro replaced the tolar.
SpainEUR 100,000100%1998Fondos de Garant?a de Dep?sitos (FGD)Deposits guaranteed up to ?100,000. Two separate schemes for retail banks and savings banks[32]
SwedenEUR 100,000100%December 31, 2010National Debt Office ? Deposit InsuranceFrom October 2008 to December 2010, amount was SEK 500,000.[33]
United KingdomGBP 85,000100%Jan 01, 2011Financial Services Compensation SchemeAmount raised from 35,000 to GBP 50,000 effective October 7, 2008. Before October 1, 2007 coverage was 100% of the first GBP 2,000 and 90% between 2,000 and GBP 35,000.[34]



Country Savings limit Coverage Valid since Deposit insurance organization Comments and previous amounts
 
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#10
Thank you for sharing taxraider, it's a good overview and reading to calm down.
 
#12
They have the international required banking insurance guaranetees in place covering the mandatory EUR 20,000 for each person if not even EUR 100,000 not sure about it. No risk using them if you ask me.


More info from Wiki you can find below: [h=4]By EU country[/h] As from October 2008, many EU countries were in the process of increasing the amounts covered by their deposit insurance schemes. Since these amounts are typically encoded in legislation, there was a certain delay before the new amounts were formally valid. Countries have varied in their approach; some have permanently increased the amount, while others have implemented temporary measures. [6]


BelgiumEUR 100,000 (*)100% Fonds de Protection / Beschermings Fonds / Protection Fund [12]Previously 20.000 EUR before 2009.
BulgariaEUR 100,000100%December 31, 2010Bulgarian Deposit Insurance FundSavings limit was EUR 51,129 in the period: April 15, 1998 ? December 31, 2010. Effective from 31 December 2010, the limit is 196,000 BGN (100,000 EUR). Article 23 (7) of the Bank Deposit Guarantee Law says that the guaranteed amount for foreign currency deposits shall be paid out in Bulgarian levs (BGN) calculated using the Bulgarian National Bank's exchange rate on the first day of paying out of guaranteed deposits.
CyprusEUR 100,000100%September, 2000Deposit Protection Scheme
Czech RepublicEUR 100,000100% Deposit Insurance FundPreviously (since 2002), the insured amount was 90% of deposits up to EUR 25,000; in 2008 it was increased to 100% of deposits up to EUR 50,000. Effective 2011, the limit was increased to EUR 100,000. Credit unions covered since 2006.[13]
DenmarkOrdinary deposit guarantee scheme applies after September 30, 2010, covers up to DKK750,000100% Garantifonden for indskydere og investorer, The Guarantee Fund for Depositors and Investorshttp://www.indskydergarantifonden.dk


For the two-year period from October 5, 2008 to September 30, 2010 an unlimited governmental guarantee for deposits has been added.[14][15]
FinlandEUR 100,000100%1998Deposit Guarantee FundIncreased from EUR 25,000 to EUR 50,000 on October 8, 2008[16] and to EUR 100,000 on January 1, 2011.[17]
FranceEUR 100,000[18]100%25 juin 1999Fonds de Garantie des D?p?ts (FDG)Unlimited state guarantee?


Following the Irish legislative change to unlimited state guarantee, and the German announcement of unlimited support, the French President declared on 13 October 2008 that "The government will not let any French bank fail",[19] in a speech that was posted on the official website www.gouvernement.fr. This political commitment has so far held (rescue of the Franco-Belgian bank DEXIA)
GermanyEUR 100,000100%Jan 01, 2011

  • Private Banks: Entsch?digungseinrichtung deutscher Banken GmbH (EdB)
  • Public Banks: V?B-Entsch?digungseinrichtung GmbH
  • Brokerage companies: Entsch?digungseinrichtung der Wertpapierhandelsunternehmen (EdW)


The 4 banking associations run voluntary additional guarantee schemes, which go beyond the European minimum of EUR 100,000.


For instance for BdB member banks, "The protection ceiling for each creditor is 30% of the liable capital of the Bank..."[20]


An unlimited state guarantee was announced in October 2008 (and extended in July 2009). The legal details are nevertheless unclear.[21] "It is a political declaration" said Torsten Albig.[22]

  • Bundesverband deutscher Banken BdB (for private banks)
  • Bundesverband ?ffentlicher Banken Deutschlands V?B (for public sector banks)
  • Bundesverband der Deutschen Volksbanken und Raiffeisenbanken BVR (for co-operative banks)
  • Deutscher Sparkassen- und Giroverband DSGV (Savings banks)


GreeceEUR 100,000100%October 2008 Was 20,000 EUR, increased in October 2008
HungaryEUR 100,000100% National Deposit Insurance Fund (NDIF)
IrelandUnlimited[23][24] September 2008Central Bank and Financial Services Authority of IrelandAmount raised to unlimited in September 2008
ItalyEUR 100,000100%March 24, 2011 (effective May 7, 2011)Fondo Interbancario di Tutela dei Depositi (FITD)Amount decreased from EUR 103,291.38 (ITL 200,000,000).[25]
NetherlandsEUR 100,000[26]100%October 7, 2008DepositogarantiestelselBefore October 7, 2008 coverage was 100% of first EUR 20,000, 90% of next EUR 20,000 (hence a compensation of up to EUR 38,000).
PolandEUR 100,000 (corresponding amount in PLN)[27]100%30 December 2010Bankowy Fundusz Gwarancyjny (BFG)Amount raised from EUR 50,000 on 30 December 2010
PortugalEUR 100,000100%November 2008Fundo de Garantia de Dep?sitosAmount raised from EUR 25,000 to EUR 100,000 in November 2008.[28]


Provisions of Decree-Law Article 166 says "According to article 12 of Decree-Law No. 211 ? A/2008, of 3 November 2008, until 31 December 2011, the limit shall be increased from ? 25,000 to ? 100,000". Article 2 of the Decree-Law No. 119/2011 set the limit of ?100,000 as permanent [29]
SlovakiaEUR 100,000100%1 November 2008Deposit Protection FundCredit unions are not covered.[30]
SloveniaEUR 100.000100%July 28, 2010Slovene: Banka Slovenije, the central bank of the Republic of Slovenia[31]


The Bank of Slovenia joined the Eurosystem in 2007, when the euro replaced the tolar.
SpainEUR 100,000100%1998Fondos de Garant?a de Dep?sitos (FGD)Deposits guaranteed up to ?100,000. Two separate schemes for retail banks and savings banks[32]
SwedenEUR 100,000100%December 31, 2010National Debt Office ? Deposit InsuranceFrom October 2008 to December 2010, amount was SEK 500,000.[33]
United KingdomGBP 85,000100%Jan 01, 2011Financial Services Compensation SchemeAmount raised from 35,000 to GBP 50,000 effective October 7, 2008. Before October 1, 2007 coverage was 100% of the first GBP 2,000 and 90% between 2,000 and GBP 35,000.[34]



Country Savings limit Coverage Valid since Deposit insurance organization Comments and previous amounts
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Thank you for sharing, how easy are they to open account with and requirements please?
 
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#13
I failed completly to get an account with them! I was visiting them last week just to get informed that they don't take any foreign clients without any references! It's a good way to secure their existing customers but for me it was just crap. Anyway, I had a great pleasure in Switzerland.
 
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#15
They have several branches located in strategic places such as Milan, Zurich, Geneva, Malta and several other areas, but their main branch is located in Lugano. Visiting a branch is probably the most reliable way to transact any important and urgent business with them. However, what I would appreciate more is an easier way to get in touch with any bank representative in case I am abroad and have some concerns regarding my accounts. They may need to add additional online features that will enable clients to get in touch with them even on mobile.
Click to expand...
That's cool we may only need to travel to Zurich whcih isn't far away from me ;)
 
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#17
I failed completly to get an account with them! I was visiting them last week just to get informed that they don't take any foreign clients without any references! It's a good way to secure their existing customers but for me it was just crap. Anyway' date=' I had a great pleasure in Switzerland.[/quote']
What business are you into and why did they declined your application ?
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