How to Open a Bank Account in Switzerland as a Foreigner (2025 Guide)
How to Open a Bank Account in Switzerland as a Foreigner (2025 Guide)
Switzerland is known for its stable economy, world-class banking system, and financial privacy. Whether you’re an expat, a student, or a new employee relocating to Switzerland, opening a Swiss bank account is a crucial step toward settling in the country.
Why Open a Swiss Bank Account?
- To receive your salary if you’re employed in Switzerland
- To pay rent and utility bills
- To get health insurance coverage (many providers require a Swiss account)
- For daily purchases and online payments
- To start saving or investing locally
Can Foreigners Open a Bank Account in Switzerland?
Yes, absolutely. Switzerland is expat-friendly and allows foreigners—including non-residents—to open bank accounts. However, the process differs slightly depending on your residency status:
- Residents (with a Swiss address and permit): Easier, more banks to choose from, full access to services
- Non-residents: Fewer options, often higher fees, but still possible (especially with digital banks)
Documents Required
To open a bank account in Switzerland, you’ll typically need:
- Valid passport or national ID
- Proof of Swiss address (rental contract or utility bill)
- Residence permit (for residents)
- Employment contract or enrollment certificate (if applicable)
- Initial deposit (varies by bank)
Non-residents may be asked for additional documentation, such as proof of income or tax residence.
Best Swiss Banks for Foreigners (2025)
Here are some of the most expat-friendly banks in Switzerland:
- UBS – Largest bank, many English-speaking branches, comprehensive mobile banking
- Credit Suisse – Good for international clients, wide range of financial services
- PostFinance – Government-backed, beginner-friendly, low fees
- Raiffeisen – Ideal for residents, community-focused, strong local presence
- Neon – Mobile-only bank, no monthly fees, great for digital nomads
Tip: Use www.comparis.ch to compare bank fees, account types, and services.
Step-by-Step: How to Open an Account
- Choose your bank based on fees, services, and language support
- Gather documents as listed above
- Book an appointment online or visit a branch
- Complete KYC (Know Your Customer) checks – identity verification and purpose of account
- Deposit initial funds and activate online/mobile banking access
Most major banks also offer English-speaking staff or online applications in English.
Can You Open an Account Online?
Yes! Some banks and fintech platforms offer fully online account openings, especially for residents:
- Neon and Zak: 100% mobile-based, great for young expats
- UBS: Online application, followed by video identification
Note: Non-residents may still be required to appear in person or provide notarized documents.
Fees and Minimum Balances
- Monthly account fees: CHF 0 – 15
- ATM withdrawals: Free at own bank, CHF 2–5 at others
- International transfers: May incur extra charges
- Minimum balance: Usually CHF 0 – 5,000 (varies by bank)
Tax Compliance and Transparency
Swiss banking secrecy is no longer what it once was. Today, Switzerland complies with global transparency laws (like CRS and FATCA). This means:
- Your account may be reported to tax authorities in your home country
- Always declare foreign accounts to remain compliant
Final Thoughts
Opening a Swiss bank account as a foreigner is straightforward if you have the right documents and choose the right provider. Whether you need an account for daily expenses or long-term savings, Switzerland offers a secure and efficient banking environment.
Need help comparing banks? Visit comparis.ch or check each bank’s website for updated expat account options.
