Do Banks record all phone calls? (Financial lawyer clarifies)
This video answers the question of whether you can make a recording of your conversation with the bank without the participants’ knowledge, if such a recording is legal and if it may be used later in a trial.
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I made this video because many of my foreign customers ask me again and again if they can record their conversation with the bank. They ask me if this is legal in Switzerland. With such a recording, my clients want to prove that the banker has guaranteed the performance of certain investments.
Switzerland has very strict legislation protecting privacy. The federal law on data protection is one of the strictest laws worldwide. Personal calls may only be taken if all parties agree. But there are exceptions to this. There are situations where you may be recorded.
Example to understand the Recording Law: Do banks record all phone calls?
Let’s say you walk into the lobby of a bank. Everyone must expect they will be recorded when they are in a bank lobby. Whoever looks closely will even notice the location of the camera that is recording them. The same is true in a supermarket. Again, one should not expect to find themselves in a place of privacy. If you are in the bank’s toilet, however, you can well expect that this is a place of protected privacy. If you make calls to bankers, they can also expect to have their privacy protected.
Certain calls with the bank are not protected, and are recorded. In particular, phone calls to dealers are always recorded. However, the bank must explicitly point out here that they reserve the right to record the conversation before it takes place. This means that any recording of a telephone conversation without the express consent of the participants is illegal. It may not be used in legal proceedings.
If you record a situation in which privacy can be generally expected, then you risk to be prosecuted, and under certain circumstances liable for damages.
Recording is only allowed where everyone can easily recognise that no privacy exists.
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