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Bank Account Contract

Bank Account Contract Template for Switzerland

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Key Requirements PROMPT example:

Bank Account Contract

"I need a Bank Account Contract for a Swiss corporate client establishing multiple currency accounts with online banking services, to be implemented by March 2025, including provisions for multiple authorized signatories and international wire transfers."

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Document background
The Bank Account Contract serves as the foundational document establishing the legal relationship between a Swiss bank and its clients. This contract is essential for any individual or entity seeking to open and maintain a bank account in Switzerland, whether for personal, business, or investment purposes. The document comprehensively covers account operations, services, fees, and regulatory compliance requirements under Swiss law, including specific provisions required by the Swiss Federal Banking Act, Anti-Money Laundering regulations, and Data Protection laws. It reflects Switzerland's sophisticated banking environment and strong tradition of banking privacy while incorporating modern banking practices and digital services. The contract is designed to protect both the bank's and client's interests while ensuring compliance with Switzerland's strict banking regulations and international standards.
Suggested Sections

1. Parties: Identification of the bank and account holder(s), including full legal names and addresses

2. Background: Brief context of the agreement and the banking relationship being established

3. Definitions: Key terms used throughout the agreement, including banking-specific terminology

4. Account Services: Core banking services provided, including account types, currency, and basic operations

5. Account Operation: Rules for operating the account, including deposits, withdrawals, and payment processing

6. Customer Instructions: Methods and requirements for giving instructions to the bank, including authorized signatures

7. Fees and Charges: Standard banking fees, account maintenance charges, and payment processing fees

8. Interest: Interest rates applicable to the account, calculation methods, and payment frequency

9. Account Statements: Frequency and format of statements, verification procedures, and dispute resolution

10. Security and Access: Security measures, online banking access, and authentication requirements

11. Data Protection and Banking Secrecy: Handling of personal data and banking information under Swiss law

12. Anti-Money Laundering Compliance: Customer due diligence requirements and ongoing monitoring obligations

13. Termination: Conditions and procedures for closing the account by either party

14. Governing Law and Jurisdiction: Application of Swiss law and jurisdiction for disputes

Optional Sections

1. Joint Accounts: Additional terms for accounts with multiple holders, used when account has multiple parties

2. Overdraft Facility: Terms for overdraft services, included when overdraft facility is offered

3. Payment Cards: Terms for debit/credit cards linked to the account, included when cards are issued

4. Electronic Banking Services: Detailed terms for online and mobile banking, included when such services are provided

5. Foreign Currency Accounts: Additional terms for foreign currency holdings, included for multi-currency accounts

6. Investment Services: Terms for investment-related services, included when investment services are offered

7. Safe Deposit Box: Terms for safe deposit box services, included when such service is provided

8. Special Instructions: Any specific instructions or arrangements unique to the customer

Suggested Schedules

1. Schedule of Fees and Charges: Detailed list of all applicable fees, charges, and commission rates

2. Interest Rate Schedule: Current interest rates for different account types and balance tiers

3. Required Forms: Standard forms including signature cards and tax declarations

4. General Banking Conditions: Standard terms and conditions applicable to all banking relationships

5. Electronic Banking Terms: Detailed terms and conditions for electronic banking services

6. Data Privacy Notice: Detailed information about data processing and privacy protection

7. Cut-off Times: Schedule of cut-off times for various banking transactions

8. Specimen Signatures: Authorized signatures for account operation

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































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Relevant Industries

Banking and Financial Services

Corporate Services

Legal Services

Wealth Management

Private Banking

Retail Banking

Investment Banking

Financial Technology

Professional Services

International Trade

Corporate Treasury

Financial Consulting

Relevant Teams

Legal

Compliance

Client Services

Account Management

Operations

Risk Management

Treasury

Corporate Secretariat

Data Protection

Financial Control

Customer Relations

Regulatory Affairs

Relevant Roles

Legal Counsel

Compliance Officer

Relationship Manager

Account Manager

Banking Operations Manager

Chief Financial Officer

Treasury Manager

Corporate Secretary

Risk Manager

Data Protection Officer

Chief Legal Officer

Banking Services Director

Client Services Manager

Operations Director

Financial Controller

Corporate Treasurer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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