However, a few banks (like UBS) provide fully-online account opening for residents of Switzerland. Wherever you’re trying to open an account, this task is bound to meet you with its challenges. Start your next-level banking experience with CSX. Each bank has its own steps for setting up an account, but knowing what basic information and documents you will need can help you get started in setting up your own Swiss bank account. Nonetheless, they can contact a Swiss bank online and resort to transactions via correspondence (the latter is usually done by post and rarely online). "The information is sufficient and helpful. But not all of them do. This law is called the Foreign Account Tax Compliance Act (FATCA), which requires the country to provide information about U.S. accounts in Switzerland. These fees are within the normal range, but there’s a way of getting around them. If there were more information about the tax system of Switzerland, it, "It helped to understand the minimum deposit requirement, which was an essential part of my decision. Can a Bangladeshi open an account in Swiss bank? The Swiss economy is known for its stability and neutrality when it comes to conflicts. Swiss bank accounts are safe, and there is a very low chance of theft. There are 32 references cited in this article, which can be found at the bottom of the page. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. There is currently no broadly accepted procedure for online identity verification in Switzerland. ", "I had no notion about this topic, thanks.". Some banks will require a new customer to verify his professional status. http://www.swconsult.ch/cgi-bin/banklist2.pl, http://www.business-standard.com/article/economy-policy/black-money-6-things-you-should-know-before-opening-a-swiss-bank-account-114102900135_1.html, http://blogs.wsj.com/moneybeat/2014/09/10/yes-you-too-can-have-a-swiss-bank-account/, http://www.premiumswitzerland.com/financial-news/banking/open-a-swiss-account.htm, http://www.expatica.com/ch/finance/banking-investments/How-to-open-a-Swiss-bank-account_102298.html, http://www.investopedia.com/ask/answers/08/swiss-bank-account.asp, http://www.businessinsider.com/hsbc-and-ubs-swiss-bank-account-and-tax-evasion-scandals-explainer-2015-2?r=UK&IR=T, http://www.expatica.com/ch/finance/Banking-in-Switzerland_100032.html, http://www.independenttraveler.com/travel-tips/money-and-insurance/the-best-way-to-carry-money-overseas, consider supporting our work with a contribution to wikiHow. Banks may also require new customers to show any relevant work contracts and tax returns as part of the employment verification process. Find out if you are eligible ; Swiss banks are serious about ensuring accounts held by non-residents are not used to take advantage of for the use of illegal activity. CIM Bank is a Swiss Private Bank based in Geneva, Wollerau and Lugano. Your account can be in almost any currency, although most choose the Swiss franc, U.S. dollar, Euro or Sterling, and there is often no minimum balance required to open an account. Swiss banks are known worldwide. Open Swiss Bank Account Online. 30% of worldwide assets are invested with Swiss banks. You can open your Personal swiss bank account , or Corporate bank account by postal mail without the need to travel to Switzerland. If you really can’t stand to see another ad again, then please consider supporting our work with a contribution to wikiHow. When you make transactions through links on this article, we may earn an affiliate commission. There’s sound reasoning behind that since, for a long period, America’s wealthy 1% has used it for tax evasion and hiding illegal money in the past. So, prepare for a lot of paperwork, some more, and some more. Potential customers living outside of Switzerland who wish to open a Swiss bank account but cannot visit a branch in person may be able to request an application package by mail. So, for whatever reason you might be interested in opening a Swiss bank account, we hope this helped you ease the process. Customers may be required to provide a valid passport as a means of identification. If you're trying to maintain a secret account, being issued a debit card or checkbook is an easy way to get caught. Individual accounts, open between December 31, 2010, and May 31, 2013, became subject to a one-off levy of between 21 and 41 percent. To learn how to access money in a Swiss bank account, keep reading! For example, bank representatives may request a copy of a contract proving that a house was sold to acquire the money in question, or receipts from securities sales, or a verifying statement from a bank you've done business with in the past. Whether you’re in Switzerland or abroad, there are some ground requirements that you’ll have to meet in order to settle this. So, you can expect a monthly maintenance fee from CHF 10 to CHF 30. He has over 40 years of experience in business and finance, including as a Vice President for Blue Cross Blue Shield of Texas. While a few decades back, Swiss banks wouldn’t disclose your wealth to international authorities now they have an agreement with the U.S. that makes that possible. The two major banks operate throughout the whole country and have headquarters in many international cities, so you won’t have to worry about moving and not being able to access your bank account. Check with the bank of your choice to see if you meet their requirements. Apart from the great transport system, quality of life, and colorful culture, Switzerland is a country well-known for its banks. Be aware that unless a bank has earned a status of qualified intermediary (QI), that bank may have to report the owner of an account and all money received from the United States to the IRS, if the account holder is a US citizen. All you need to do is create a Transferwise online account, and from there, everything will go smoothly. Can I open a Swiss bank account online if I live in South Africa? Can I open a Swiss bank account if I am Sri Lankan and live in Saudi Arabia? Discover the secrets of what only a few dare to say in the public: Where & How the Rich and Famous invest their money safely. Replies. As specified by The Balance, non-residents usually don’t use swiss banks for daily activities. Say this isn’t one of your problems, you can still be estimated as ‘politically exposed’, and that essentially means they think of you as sketchy or you have some public scandals behind you. file Form TD F 90-22.1 by June 30th of each year to inform the IRS of the location of any foreign accounts that were in excess of $10,000 at any point during the previous year. Alongside their, for their banking system. To start things off, a non-resident would have to contact a Swiss bank and request an application package—which, to a resident, is the equivalent of walking into a bank and asking to open a bank account. Apart from being the most capitalized and safest, swiss banks offer accounts in all major currencies, and they include low levels of financial risk. Yes, but you must be of at least 18 years of age, and only a small minimum initial deposit of 5,000 CHF/EUR/USD is required. Hello How much does it cost to open a bank account with you and does it support Iraq or not and what are the advantages and guarantees. An overview of our bank accounts: Open a personal account or savings account online - in less than 12 minutes! Cantonal Banks operate in cantons—meaning they don’t mix with residents of other cantons. [2] Make sure you have nothing of the sort in your background, and you can get started with your account. Some banks require customers to use Swiss francs (CHF). Nevertheless, now they’re more cautious and much more regulated when it comes to non-Swiss residents who want to open Swiss bank accounts. Nonresidents of Switzerland must be at least 18 years old to open a Swiss bank account, and that's about the only restriction. According to Swiss law, nonresidents of Switzerland who would like to open a Swiss bank account must be at least 18 years old. First, we have to mention that Swiss Law enables non-residents to open a Swiss bank account at least 18 years old. Research source To this day, Swiss banks are one, if not the safest, places in the world to store your money. wikiHow is where trusted research and expert knowledge come together. Though conditions for eligibility may include nationality, it is not a conditio sine qua non, meaning there are other far more important requirements that must be met. 2. Happy banking in Switzerland! Can I open a Swiss account online from India? He has over 40 years of experience in business and finance, including as a Vice President for Blue Cross Blue Shield of Texas. He has a BBA in Industrial Management from the University of Texas at Austin. No matter how great you may be on paper, there are some countries Switzerland won’t do business with. Can a Canadian open a Swiss bank account? This article has been viewed 724,459 times. Documents provided by the potential customer will need to be authenticated, either by a notary, an employee of the Swiss bank, or an employee of a correspondent bank that the Swiss bank is willing to work with. Your Swiss employer will insist on paying your salary into a Swiss bank account, and to avoid international transfer charges, you will almost certainly prefer to pay your rent and utilities from a Swiss bank account. A photocopy of your official, government-issued passport would have to be certified by an approved institution and sent to the bank you wish to do business with. There are also a number of international banks based in Switzerland, as well as a host of international banks with branches in Switzerland. Many private banks will not accept new clients unless that client is willing to invest a minimum of CHF 250,000 ($265,896.64 in US dollars, or 230,704.37 Euros). *This article may contain affiliate links. No, however you can open an account in Pakistan, Russia, and North Korea. What are the most popular Swiss banks for foreigners wishing to open a legal account? Save my name, email, and website in this browser for the next time I comment. Now there are strict policies in place to prevent that from happening. Switzerland now has a law—which was first an agreement between Switzerland and the U.S.—that makes tax evasion highly improbable. Those being your documentation and eligibility. These have their differences in size, requirements, and what they provide. British account holders with long-standing accounts could agree to pay a one-off levy to HMRC of up to 41% of their income. ", "Helped me to decide immediately not to open any bank account anywhere in the world. banking, swiss banking, Swiss bank account opening, banking system and banking secrecy information. Please help us continue to provide you with our trusted how-to guides and videos for free by whitelisting wikiHow on your ad blocker. Change location You are about to change the … Opening a Swiss bank account from abroad. According to the Swiss law, non-residents who want to open a Swiss bank account must be at least 18 years old. X Also, know that some Swiss banks won't offer a general savings account if you're a foreign citizen, so you may only have access to investment opportunities or wealth management options. Privacy is a big reason people resort to banks in Switzerland, but as mentioned before, Switzerland isn’t the place for movie-like, top-secret accounts anymore. It allows you to have up to 23 different currencies in your account, including GBP, USD, AUD, CNH and PLN. To learn how to access money in a Swiss bank account, keep reading! Swiss banks are happy to have foreign residents as customers. Businessmen who want to open a bank account in Switzerland should know that there is no requirement regarding a minimum balance, but once the owner starts depositing cash there is a minimum balance he must maintain, and that varies according to the bank and type of account. Citizens of certain countries are prohibited from opening Swiss bank accounts. Swiss banks offer economic security, confidentiality, and asset protection. 2. While that fame mostly comes from investment banking and accounts holding millions, if living in Switzerland has sparked an interest in you, or you want to open a Swiss bank account, then you would like to know how their banks work. Swiss banks have a reputation for providing anonymity, safety, and have earned the tax haven name. Swiss banks allows access to the corporate accounts by post, courier, telephone, or via the Internet. If you’re moving to Switzerland or just someone interested in owning a bank account in Switzerland, you probably want to tackle the account opening issue head-on. As per Financial Times, a private bank is a term that refers to private banking services and they are often private banks that are usually shared corporations. Very few Swiss banks will open accounts for people without walking into the Switzerland bank. Taking that into consideration, the card you’ll first want to get from a Swiss bank is a debit card; you can use this card for day-to-day things like withdrawing cash or paying in shops. Otherwise an account manager will most likely be fluent in one of Switzerland's four major languages: German, French, Italian, or Romansh. It is actually a criminal offense in Switzerland for a banker to reveal private information about bank clients, which in the past was a huge perk for anyone wishing to conceal ill-gotten money or valuables. In this case, your legal income and nationality won’t do much for you, and you’d still be unable to open a Swiss bank account. Advantages for your day-to-day banking. Most banks are governed by the laws of the nation in which a given branch is located, not by the laws of the head office's nation. It depends on the bank at which you are trying to open an account, but you will be able to find some free ones if you look hard enough. However, as mentioned by Expatica, if you want a credit card, you’ll have to wait for two months, and in those two months, deposit the maximum limit of your credit card twice. Negative interest has been applied since 22 January 2015 and currently corresponds to the SNB policy rate. The majority of Swiss banks generally require that you either visit a branch office in person or send a certified copy of an identification document by mail. Opening a bank account in Switzerland as quickly as possible following your arrival is highly recommended. For virtual bank accounts you will need to enter a videocall in which you have to … Furthermore, if you happen to leave Switzerland, they will ask you to close the account altogether. Banking in Switzerland: How To Open a Swiss Bank Account [2020]. If privacy is a factor, consider going with a bank that does not have branches in your home country. As for standard accounts, your information is safe with the bank, but your name will continue to be on your financial paper trail. Opening a Swiss bank account online. Another Swiss bank is the Swiss National Bank; however, you can’t open an individual account here. It is worth noting that some Swiss banks are reluctant to offer general savings accounts for foreign citizens. Certain banks may allow you to complete this process by mail. has sparked an interest in you, or you want to open a Swiss bank account, then you would like to know how their banks work. Most Swiss banks will open you an account only if you deposit at least a million Swiss francs. Showing proof of employment helps banks know that the money being deposited into an account has not come from illegal activities. Now the actual Swiss bank account interest rates stand at -0.75%. As is the case with most banks, there are some fees to take care of once you set up your account. However, the days when Switzerland banks served for providing top-secret accounts are gone. CSX: Open your account via app, from CHF 0 Account, card, and much more. Opening a Swiss bank account can be achieved in the following straightforward options; walking into a Swiss banks and dealing directly with customer service, online applications which are simple and easy to use or employing the services of an offshore agent or intermediary. By using our site, you agree to our. Personal accounts, currency exchange, Maestro cards in Swiss francs, savings accounts and pension plans: our range of services - the only one of its kind in Switzerland - offers secure, flexible and, above all, easy banking. If you’ve set up the account, getting this card should be a walk in the park. economictimes.indiatimes.com/magazines/panache/fancy-yourself-a-numbered-swiss-bank-account-heres-how-you-can-get-one/articleshow/44979525.cms, thebalance.com/how-swiss-bank-accounts-work-4156553, expatica.com/ch/finance/banking/how-to-open-a-swiss-bank-account-102298/, treasury.gov/resource-center/tax-policy/treaties/Documents/FATCA-Agreement-Switzerland-2-14-2013.pdf. Switzerland has been able to have an international focus throughout the twentieth century and has become a leading financial center. So, if you tend to move often, and are moving from a canton to the other, they will ask you to change banks. These banks specialize in wealth management for private international clients and it would not be economically feasible for them to open smaller accounts.We have clients who deposit more than a million Swiss francs. tradingeconomics.com/switzerland/interest-rate#:~:text=Interest%20Rate%20in%20Switzerland%20averaged,percent%20in%20January%20of%202015. Same as any other bank in the world, Swiss banks require a certain amount of paperwork and documentation. Many banks, even in Switzerland, must now verify the identity of the account holder and all sources of income. Opening a Swiss bank account is challenging for non-residents trying to open accounts overseas, where they won’t seem to find everyday services of Swiss banks in other countries. While that fame mostly comes from investment banking and accounts holding millions, if living in Switzerland has sparked an interest in you, or you want to open a Swiss bank account, then you would like to know how their banks work. Most foreign swiss account holders have their bank account in other currencies from Swiss Francs; otherwise, they’ll have to pay the Swiss withholding tax. Given that, Swiss bank account opening may seem a bit tricky at first, but once you get the gist of the essential requirements, it will ease up. Regardless of your nationality and source(s) of income, your application for a Swiss bank account may be rejected if you are deemed to be a “politically exposed” person - someone who has been involved in a scandal or has a publicly dubious reputation. This article was co-authored by Michael R. Lewis. Switzerland is known for its impressive banking system, including its legendary privacy policies. After all, even righteous citizens appreciate the additional layers of privacy that Swiss banking offers. We offer our clientele tailored services along with a deep understanding of each client's needs. History. Banks will ask for thorough verification to make sure you are eligible to hold an account offshore. But if you're a frequent visitor to Switzerland, or you’re planning to move there, you’ll have to step away from the silver screen, and become familiar with the realities of banking in Switzerland. Who can open a bank account in Switzerland? Before you try to open a Swiss Bank account, keep in mind that citizens from certain countries, like Russia and Iraq, are barred from opening an account, and your application may be denied if you've been involved in a public scandal. A passport is needed to open an account; a driver's license will not be accepted. Yes, assuming they meet the financial requirements (along with any other requirements that a particular bank might have). Whether that happened due to the Embargo Act or other political exclusions, that automatically loses your eligibility. In Switzerland, the Swiss National Bank (SNB) takes decisions for interest rates. Most Swiss banks will not open accounts for foreign residents or will make the process impossibly difficult. Hey, Swiss bank account opening can be very easy, If you want to open an account for yourself online without any hassle, just follow this link: Which documents will I need? COPYRIGHT © 2020 STUDYING IN SWITZERLAND. After taking these steps, you will be provided with an account manager to guide you through the process. Benefit from our experts knowledge & advice - either in private banking or in corporate banking - and enjoy a smooth banking experience. However, if you switch to electronic banking statements, take a mortgage with the said bank, or have a hefty amount of deposits, these fees will be either reduced significantly or waived. Opening a Swiss joint account. While Swiss banks may not be as exciting as they are depicted in spy movies and action thrillers, they are still extremely well run and impressively private. The remarkable political and economic stability of Switzerland is a guarantee of security when opening a bank account, deposit funds and invest. Thanks to all authors for creating a page that has been read 724,459 times. Fundamentals of Swiss bank account exceptional popularity. Instead, Swiss banks focus on providing foreign citizens with investment opportunities and wealth management specialties. % of people told us that this article helped them. Based on The Economic Times, numbered accounts serve for hiding your identity from the papers—meaning numbers appear where your name would typically be. However, some banks, including UBS and Credit Suisse, will accept investments below CHF 50,000 ($53,179.33 US dollars, or 46,140.87 Euros). Swiss bank account opening process for US clients (How-to with a Swiss SEC-registered investment adviser) Published on February 4, 2020 February 4, 2020 • 17 Likes • 4 Comments Most national banks allow you to view their websites in English, making it easy to research your options as well as ask for an application pack. Banks may verify the listed address of a potential customer by sending some type of correspondence through the mail. However, whichever bank you end up choosing, you’ll have a guaranteed safety that comes with it. ft.com/content/01927da8-d451-11e7-a303-9060cb1e5f44. In addition to the top 10 Benefits offered by a Swiss bank account opening, you will receive an Offshore Banking & Financial Survival Kit full of applicable Insider Information. If you are moving to Switzerland, opening a bank account is one of the first things you will need to do. Some Swiss banks are now also refusing American customers, in general, due to sweeping investigations by the United States Department of Justice. account that any person can open at a bank in Switzerland (including cantonal banks One of the most secretive accounts is what is known as a. ", "This wikiHow is the best information source. Although Swiss banks don’t offer the same privacy as before, they still provide numbered accounts for those interested. Speaking of partners: If you would like to open a joint account with your husband or wife or anyone else, each account holder must be identified separately and you might also be asked to sign tax compliance forms. Other than that, there aren't a lot of restrictions. How much does it cost to open up a Swiss bank account? Swiss banks are known worldwide. Last Updated: February 6, 2020 Alongside their delicious food, beautiful places, and quality watches, the Swiss are also known for their banking system. The information was secured under a deal on undeclared Swiss bank accounts held by UK residents, which entered into force in January 2013. Other than that, there aren’t a lot of restrictions. We can help you get an account opened without the need to travel. In today's world, however, concerns about terrorism and smuggling have forced the authorities in Switzerland to reject clients whom they believe to be involved in illegal activities. Learn whether you're eligible for a Swiss bank account. How to Open a Swiss Bank Account. Dukascopy is a free virtual Swiss bank account that you can open from many places in the world, also for non Swiss residents. file Form 1040, Schedule B, Part III, declaring that you are opening a foreign bank account. With the opening of Swiss bank account, the clients receive a guarantee of secrecy, service in major international languages, the possibility of receiving credit / debit cards in their private name or in the name of their companies. Monthly fees for personal accounts tend to range anywhere from 10 to 30 Swiss Francs (CHF), though customers can usually have these fees reduced or waived by switching to electronic banking statements, taking out a mortgage with the bank, or depositing a sizable amount of money into that account. All in one app. What is the general annual interest rate for a bank deposit in Switzerland? Swiss Private Bank since 1990 Login e-banking Open an account × Maintenance. These bank accounts require a significant sum of money for maintenance and have some restrictions of their own, which is why fewer people opt for them. If you are eligible, visit an operational bank branch in person or through a representative, and provide necessary documentation, such as a valid passport and proof of address and income. Under the deal, Swiss banks were obliged to declare account details to HMRC. Investors with private Swiss bank accounts may wish to avoid getting a debit card or checkbook if privacy is an issue. This article has been viewed 724,459 times. Swiss accounts’ main benefits are their privacy and stability; nonetheless, you may get a debit or credit card for spending. Credit cards and Carte Maestros tend to have annual fees that range up to 3 Swiss Francs. References. Such services tend to have more optimized processes in place that will save you time and money. Free, fast and easy! This can be for any number of reasons, such as official embargoes (with countries like Russia and Iraq, for example) and other political exclusions. We know ads can be annoying, but they’re what allow us to make all of wikiHow available for free. This is to prevent money acquired through illegal activities from being stored in Swiss bank accounts. Include your email address to get a message when this question is answered. And due to tax-evasion crackdowns by the US Department of Justice, some Swiss banks are refusing to do business with A… Where in North Carolina can I open a Swiss bank account? {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/b\/bc\/Open-a-Swiss-Bank-Account-Step-1-Version-4.jpg\/v4-460px-Open-a-Swiss-Bank-Account-Step-1-Version-4.jpg","bigUrl":"\/images\/thumb\/b\/bc\/Open-a-Swiss-Bank-Account-Step-1-Version-4.jpg\/aid195069-v4-728px-Open-a-Swiss-Bank-Account-Step-1-Version-4.jpg","smallWidth":460,"smallHeight":345,"bigWidth":"728","bigHeight":"546","licensing":"
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\n<\/p><\/div>"}. Open your account in Switzerland online at any time, or arrange a consultation. How to open a bank account from the US for a US tax-resident. We use cookies to make wikiHow great. To most of us, opening and operating a Swiss bank account might sound like something direct from a spy film. Swiss banks are known to be some of the best, most reliable and stable financial institutions in the world. Why open a Swiss bank account? If you know you will require an account manager who speaks a language other than the major languages of Switzerland, it's best to call ahead and make the necessary arrangements. Can someone from Bangladesh open a Swiss bank account? We permanently search banks with the best conditions and price-ratio and we will manage your account opening with minimal reference requirements. X Look for the Bank that Meets Your Needs. Apart from this, there aren’t a lot of limitations. Simply complete and send this form. You can hold an account in Swiss francs or in a range of other world currencies. This article was co-authored by Michael R. Lewis. If for any reason, you or someone you know are in immediate need of money but are afraid that the transfer is going to cost an arm and a leg, you can always turn to money-transferring services like Transferwise to make transfers to & from Swizterland* at any time, and chances are that they will be more affordable to you. Others permit the use of US dollars, euros, and other forms of currency from around the world. ", "This was a great way to find out the essentials of opening a Swiss bank account from the US. It’s not that all banks in Switzerland swore off of offshore clients. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. Check with the bank you wish to do business with to see what form(s) of currency they accept if exchanging into other currencies is a concern for you. This serves for verification of identity and sources of income, whose purpose is separating them from any illegal work their potential client might have in their portfolio. Make sure you get an account from a popular bank (UBS AG, Credit Suisse, and Julius Baer Group) to ensure safety. Alongside their delicious food, beautiful places, and quality watches, the Swiss are also known for their banking system. Choosing the right bank for you is an important step that will save you time and cut the chances of you having to go through different banks. It only takes 10 minutes. You can do this by getting notarized copies or an Apostille stamp, or you can visit either a local branch of your Swiss account or the correspondent bank they chose for you. Can I open a Swiss account? In a financially unstable world having a Swiss bank account can make the difference between protecting your assets or losing everything, you have overnight. Bank representatives may ask for documentation to verify the origin of income. Opening and Using Swiss Bank Accounts. He has a BBA in Industrial Management from the University of Texas at Austin. Bank branches in major cities tend to have at least one account manager who speaks a foreign language, including English. Each bank will set the minimum deposit amount for opening the account, so you will need to find a bank that will accept the amount of funds you have. If you’re looking to open a bank account in Switzerland, the documentation you’ll need is: However, if you’re looking to open a Swiss account from abroad, you’ll need to get your documents authorized. Due diligence procedures in Swiss banks and fight against money laundering and funds derived … The account can be opened in almost any currency, the most popular being the Swiss franc, U.S. dollar, Euro or Sterling. SNB’s role is to supply the Swiss economy with Swiss banknotes and is in charge of coin distribution. Any time you write a check or use a debit card, it creates a traceable path back to your bank account. Swiss banks are known worldwide. Opening a Swiss Bank Account has never been that simple: fill the online form, sign and send back your documents! These benefits make swiss banks the most economically stable and secure place where you can store your money. This video will disclose a misconception. In fact, Transferwise services are provided online, which means that you can use the said services from the comfort of your house. New customers will be asked to verify their identity and address. I'm an Irish citizen living in the UK. So, it is important to hire a professional person to assist in opening a Swiss bank account. Your email address will not be published. Open your Swiss Bank Account online - Private, Corporate or Investment Bank Account in Switzerland, complete a simple form to open your personal account online. No, however you can open an account in Pakistan, Russia and North Korea. Being one of the main industries in Switzerland since its foundation, Swiss banks have a reputation for providing their clients with unmatched expertise and banking quality. Note that to open a bank account in Switzerland as a non-resident, you must be at least 18 years old. The bank would be concerned that if that sort of person became a client, he or she might pose too great a risk to the bank's reputation. It’s possible to open a bank account before you move to Switzerland, but this can be labor-intensive and time-consuming. It's true that there are some striking differences to the Swiss banking system. Research source Your option is to open an account at cantonal banks, private banks, and the two big Swiss banks (UBS Group AG and Credit Suisse Group AG). [1] While that fame mostly comes from investment banking and accounts holding millions, if. Swiss Bank Accounts and Nonresidents of Switzerland . 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