More than 2 million people, across the globe use PayPal for e-money transactions. For US citizens, there is absolutely no problem with paypal. Taken into account for Non-US citizens, there are some disadvantages with paypal in withdrawing your money.
1. You cannot deposit money into your credit card. Paypal says this is because of VISA and MASTERCARD regulations.2. Any Non-US, person with a paypal account, can transfer their money to any US bank account, free of any charge. But the biggest problem, is most of the amercian banks, will refuse to open an account for foreign nationals. The only way for a foreign resident is to incorporate a company in delaware or somewhere in US, and based on your company name, you can open get your US bank account opened, which indeed clears all the decks for paypal, merchant services etc. But this method is expensive.
Coming to withdrawal to your swiss bank account, you cannot withdraw funds from paypal directly into your swiss account. Either you must be a swiss national or you must have a valid address in switzerland, only then you can signup with paypal under the country switzerland, and have direct access to your swiss bank account. Also it is very imperative to have your account designated in CHF currency, else the bank would turn down your transfer. If you enter incorrect contact details or invalid bank details, if the bank denies their request, you will be penalised $20. Also it is very imperative to have your account designated in CHF (Swiss Franc) currency, else the bank cannot accept your funds resulting in chargeback. Both the bank and paypal will authenticate your true identity before transferring funds. What you have to do, is to act indirectly. Here are some ways we suggest...
1. Find somebody your friend, relatives in switzerland, who is a very trusted person. There is a good news for non-US persons, that paypal is not limited to US and available to many countries in europe like UK, France, Sweden, Germany, Netherlands, including switzerland, permitting remittance of funds to local bank accounts in that country. Since your trusted friend does have valid address in switzerland and by default they will have access to their swiss account locally. Transfer funds to them via paypal and in turn they will withdraw to their bank account and again wire it to your swiss bank account. Local bank transfers in switzerland are dead cheap, costs free or $1 per transfer. This is the fastest and private way of withdrawing your money to swiss bank account.
2. If you belong to a country, where paypal permits you to withdraw funds to your local bank account, then easily you can wire it to your swiss bank account. Visit http://www.paypal.com/ to find our which countries permit access to their local bank accounts. But this method is not safe, and will invade your privacy.
You can open a Swiss Bank account at http://www.offshorebankingadvisor.com/
