Transiting through Switzerland by coach with lots of cash

I decided to give my contribution here as I'm often crossing the border between Italy and Switzerland by train and sometimes by bus:

Border inspections both from Swiss and Italians authorities are very common (I would say between 50 and 70 per cent of the times); the typical question is whether you are carrying cash, valuables and securities, and they generally check your luggage as well.

Concerning Switzerland, it is true that officially you are not obliged to declare the money. However, if you are stopped you should be able to explain the origin of those monies. This ordinance from the Swiss federal council clearly states that they can seize your money if you refuse to provide information and/or there is a suspicion of money laundering or terrorist financing.

Swiss authorities are not known to be especially concerned about large amounts of money. Travelling by bus adds another layer to this story, I assume customs officers are more familiar with Western European businessmen bringing cash than bus passengers carrying their savings and I have no idea how they might react to this situation.

Note that unlike (most) goods, money (including cash in local or foreign currency but also travelers' cheques and negotiable instruments and, in some countries, casino chips and gold bars) can need to be declared even when travelling within the EU. It's up to each country and perfectly legal under EU law. As an example, French regulations in this respect are very extensive (see also this page in English from the French customs). This page from the EU Commission is not about travel within the EU but if you look up the form for Belgium, you will notice that it also covers entry to Belgium from another EU country.

It doesn't matter at all that there are no checks on the border, it's up to you to seek the proper authorities to volunteer that information. If you do not, you might not be found out immediately but might have to account for the provenance of the funds when you use them, even years later (say when you put them on a bank account to complete a large transaction, which the bank typically has to report to the authorities).

The whole purpose of transporting the money eludes me. Here's how to avoid it, because you maybe overlooked that option.

A Belgian bank account can be treated exactly the same in Italy as elsewhere in the Eurozone (e.g., while italians often got charged to use an ATM in Italy, and elsewhere, you'd get it free 2000KM from your home). So if you're moving, just keep your bank change your address (I'm with my original bank and not even in the Eurozone).

If you want to open an Italian account with this cash, it's far better to use a (free!) Euro SEPA transfer, as you'll have traceability --- money from you to you. No questions at border, no questions when depositing. If you need to pay an Italian, the same SEPA transfer applies.

Now if the Italian insists on being paid cash (probably to avoid taxes), he's letting you run the risk/trouble for it all. You may be in a catch-22, you cannot secure a property until you have the cash, and you cannot open an italian bank account without proof of address... This bind you cannot get out unless you have a trusted italian contact (who either allows you to use their address temporarily as residence, or you trust to receive the cash to then take out as paper money).

If I'd receive substantial money, I'd like to either get it digitally (as I'm legit/tax-paying), or be there when it's paid out at the bank so I'm not holding a stack of counterfeit money. The other way around, I want the receiver to be there in the bank, so they don't swap out my real cash then claim I gave them counterfeit.

How about taking a bus / train route that doesn't go through Switzerland? If you stay on the EU ground all the time you should experience no border checks whatsoever ? problem sorted.

Even if it's a couple EUR dearer it's probably worth it comparing to the difficulties with crossing the Swiss border twice.

Am I missing something here?