The Swiss universal bank offers all banking services which include lending business, property management and savings recommendation, payment dealings, deposit business, stock exchange dealings, underwriting business and financial analysis. Other countries separate their various banking activities. Laws passed by the official body are currently in progress in United States to liberalize the system. Swiss Interbank is an electronic payment system which is used by banks to handle electronic transactions.
One of the most notable services in Switzerland is considered to be banking. Swiss banks are popular for their very old system in banking confidentiality. Many of the bordering countries of Switzerland have also implemented equivalent banking structures. However there are numerous false impressions about bank secrecy and what policies are adopted by Switzerland related to it. Banking privacy was first introduced in Switzerland in 1934. It assisted German Jews who were trying to protect their money from being seized by Nazis.