Private banking XFS has strong links with the Geneva private banks and some in Zurich where a face to face introduction can be made. We need our clients to complete the Customer Information Profile (CIP), as we then complete the 90-page document some of the banks require, and paves the way for out clients to open an account with the minimal fuss
Cantonal banking XFS has links to the cantonal banking system, Switzerland has 26 cantons but only 24 cantonal banks, Canton Zurich being the largest, followed by Canton Vaud which also has an international footprint, and then Canton Zug and Canton Uri, the remaining cantonal banks are very small
Retail Banking – there are only two retail banks in Switzerland UBS and Credit Suisse, XFS are very well known to UBS at the Corporate Director level We can open bank accounts in other jurisdictions other than Switzerland
FX Rates we can guide on this as depend on the bank, what is know is the spread will vary, they all use the midmarket rates and then use their spreads, the spread can vary from 3.5% to 10% and course there is the transaction fees, these also vary with bank to bank. Our associates rate is stated as the rate without any banking spreads example UK/Euro rate 1.2 mid-market rate 1.19, bank rate after spread 1.148
ACCOUNT HOLDERS
XF Services can function as Nominee account holders for the client, taking written instructions from the client before taking any actions, for and on behalf of the client
XF Services will manage the banks and reporting banks to the clients on a regular basis, we will be introducing a system for the clients to review their details online.
XF Serverices are known for producing Business Plans to acquire funding and distinct and diverse loans to facilitate acquisitions, property purchases and to assist in the general day to day trading activities of the business. We will conduct all the due diligence and compliances.