# VSB 20 Art. 5 — Bearer savings books - **Rubric (DE):** Inhabersparhefte - **Rubric (EN):** Bearer savings books - **Chapter:** 2. Kapitel — Identifizierung des Vertragspartners (1. Abschnitt: Allgemeine Bestimmungen) - **Scope:** Banks & securities firms (incorporated via [[GwV-FINMA Art. 35 - Identification, controlling person and beneficial|GwV-FINMA Art. 35]]) - **Status:** In force (since 1 January 2020) ## Description The opening of new bearer savings books (*Inhabersparhefte*) is prohibited. Existing bearer savings books must be terminated (*gekündigt*) on their first physical presentation. In addition, the person who makes withdrawals from a bearer savings book must be identified; deposits may no longer be accepted. ## Context & interpretation The SBA commentary on VSB 20 contains no section on Art. 5. ## FATF - [[FATF R.10 - Customer due diligence|FATF R.10]] — related: R.10 prohibits anonymous accounts; this article bans new bearer savings books and requires identification of whoever makes withdrawals from existing ones. ## Swiss counterparts - No direct counterpart in the GwG or GwV-FINMA notes of this map was identified. ## Part of - [[VSB 20]] ## Further AMLR connections - [[AMLR Art. 79 - Anonymous accounts - bearer shares|AMLR Art. 79]] — Both prohibit bearer or anonymous savings books. AMLR requires CDD before an existing one is used; VSB requires termination on first presentation and identification of whoever withdraws. *(direct)* ## Sources - VSB 20 (Vereinbarung vom 13. Juni 2018, in force 1.1.2020), Art. 5