How to open a bank account in Switzerland
Planning a move to Switzerland? Or maybe you're a freelancer or cross border commuter being paid in CHF? In either case you probably need a way to manage your money in francs, and switch from CHF to EUR, GBP or any other currency you might need.
The Swiss banking industry is very developed - so it's no surprise that you'll be able to find an account from a bank there if you choose. However, if you're looking for an option with low fees and multi-currency flexibility, you might find you're better off with an alternative like Revolut or Wise. Specialist online and mobile accounts usually offer more currencies, and lower transaction costs, often with no monthly fee or minimum balance. More on that coming right up.
Key points: Online Swiss account opening
💡 Key points: Opening a Swiss account as a non resident | |
|---|---|
Eligibility | You can open a Swiss bank account online as a resident, or in a branch as a non-resident - or pick an account from a specialist alternative like Wise |
Non-resident options | Swiss banks may charge higher fees for non-resident account holders, or you may find your account is more restrictive compared to a resident account |
Currencies | Swiss bank accounts tend to offer balances in CHF and EUR, while specialist alternatives may also let you hold GBP |
Fees | In all cases, transaction fees are likely to apply - ongoing account charges may also be payable, depending on the account selected |
What documents do I need?
Swiss banks offer accounts which suit a whole range of different customer types. That means you'll find resident accounts for spending or saving, and a good range of non-resident accounts. It's worth knowing though that non-resident accounts may be aimed at cross border commuters looking to cut costs, or at high wealth individuals looking for a safe haven for their funds in CHF which is considered a very stable currency. Unsurprisingly, the features, fees and eligibility requirements for these very different account types vary significantly.
While banks in Switzerland used to be famed for protecting the anonymity of clients, that's no longer generally the case - so you can expect to be asked to provide a set of documents to open your account here, like everywhere else around the world. The exact details might vary, but typically, you'll need:
Government issued proof of ID
Proof of address - either in Switzerland or abroad
A recent payslip or bank statement to show the source of your funds
If the account is specifically for residents, proof of legal residence status in Switzerland will also be required
Proof of address must usually be from within the last 3 months, and may be a utility bill in your name, a bank statement or some official government correspondence. Your preferred bank will guide you through their process and let you know what to prepare.
Save the paperwork with alternative solutions like Wise or Revolut
If you don't have all the paperwork yet to open a resident's account in Switzerland, you might find you need to open an account as a non-resident. This is likely to mean higher monthly fees until you can provide a Swiss proof of address.
An alternative which can help cut costs - and often means no ongoing charges or minimum balance requirements - is to use a provider like Revolut or Wise. Get an account online or in the provider app, using your UK proof of address before you even leave for Switzerland. You'll instantly get access to an account which can hold and handle dozens of currencies, including CHF, EUR and GBP. It's easy, and can cut your costs and give you a more flexible account for travelling, living and working overseas.
Read more on Wise review and Revolut review.
How to open a bank account in Switzerland
Most big Swiss banks let you open an account online - and may even have application forms available in English. However, it's not always the case - and it's worth remembering that there are 4 official languages of Switzerland, so if you're opening your account in a branch you'll need to ask to speak to someone in English, if you can't get by with the local language in your area (French, Italian, German or Romansh).
All that said, once you've managed any language barriers the basic steps to open a bank account in Switzerland are pretty much the same as anywhere else in the world - typically:
Research banks and pick the right account for you
Check eligibility and gather all the required paperwork
Apply online or in branch
Pay your minimum opening deposit
Show your documents to complete the verification process
Can I open a bank account in Switzerland before arrival?
There are many non-resident accounts available from Swiss banks, which will allow you to get an account up and running before you move. However, these may come with higher fees, or be more restricted compared to a resident account. If you're moving to Switzerland you may find it makes more sense to open a multi-currency account in the UK prior to your move - and then add in a CHF resident account once you're settled in.
Choose a multi-currency account with an online specialist like Revolut or Wise, which will let you apply online from the UK, to transact in GBP, CHF and a whole range of other currencies, too.
Which account is best in Switzerland for foreigners?
Let's look at a review of the best bank accounts in Switzerland for foreigners, featuring accounts available to non-residents from 2 of the biggest banks in Switzerland and a couple of online providers for comparison.
Service | Wise | Revolut | PostFinance | UBS |
|---|---|---|---|---|
Currencies covered | 40+ currencies, including CHF, EUR and GBP | 30+ currencies including CHF, EUR and GBP | CHF or EUR | CHF or EUR |
Non-resident accounts available | Yes | Yes | Yes | Yes |
Open online | Yes | Yes | Depending on your circumstances | Yes |
Maintenance fee | Free | Up to £45/month | 25 CHF/month for non resident | From CHF 5/month |
International transfers | Low fee, varies by currency | Fee varies by currency and payment value | SEPA transfers are free Other online payments from 2 CHF | SEPA transfers from 0.3 CHF Other payments from 5 CHF |
*Details correct at time of research - 15th May 2025
*Profiled accounts are PostFinance Smart Account (CHF/EUR) and UBS Personal Account (CHF/EUR) - other account options are available from these providers, which have their own fees and features
Wise
12 million+ million customers from all around the world trust Wise to help them save when they send money overseas, and for cheap and convenient multi-currency accounts. You can open a Wise account using proof of address documents from the UK, to get local CHF bank details and start to receive, send and exchange Swiss francs right away.
In fact, with the Wise Account you can hold and manage 40+ currencies, get a linked international debit card, and account details for 20 currencies including CHF. That means you can get paid easily through local transfers. And to help you save, Wise currency exchange uses the mid-market exchange rate with no markups.
Wise account | |
|---|---|
Account | Multi currency account from the UK and many other countries |
Eligibility | Online account opening from the UK and many other countries |
Is Wise safe? | Safe to use with 2 factor authentication, manual and automatic anti fraud tools and 24/7 customer service |
Fees | No account opening or maintenance fees, currency conversion fee from 0.48% |
Linked debit card | For spending in CHF, and internationally |
Limits | Sending limits of 1 million GBP from GBP and 1.3 million CHF from CHF |
Wise is great for: | Wise may not be for you if: |
|---|---|
✅ Set up an CHF account balance before leaving the UK ✅ Low costs on currency conversion to and from CHF ✅ Debit card for spending and withdrawals ✅ Flexible management of many currencies | ❌ You need credit services or loans ❌ You prefer in person banking services |
How to open an account with Wise
Download the Wise app or open the Wise desktop site
Click Sign up and create an account with your email, Facebook, Google or Apple ID
Follow the prompts to enter the details needed
Upload a snap of your ID and address documents
Once your account has been verified you can open a CHF or EUR balance in the app, by tapping + and then selecting the currency of your choice
Revolut
Revolut offers a range of accounts you can use to hold, exchange and send 25 currencies including CHF. Different Revolut account tiers are available, including plans with no monthly charges, and options with monthly fees which come with higher levels of no fee transactions and more perks.
Depending on the account you choose you'll be able to get some no fee weekday currency exchange which uses the Revolut exchange rate, and extras like budgeting and savings tools, lounge access and travel perks.
Revolut account | |
|---|---|
Account | Multi currency account from the UK and many other countries |
Eligibility | Online account opening from the UK and many other countries |
Is Revolut safe? | Safe and trusted service which offers products all over the world for 50 million + customers |
Fees | Maintenance fees from 0 GBP to 45 GBP/month, with fair usage and out of hours costs on some currency conversion |
Linked debit card | For spending in CHF, and internationally |
Limits | Variable limits on sending payments, which can depend on your account tier and type |
Revolut is great for: | Revolut may not be for you if: |
|---|---|
✅ Choosing different account plans depending on your preferences ✅ No fee transactions every month ✅ Ways to send and spend in 25+ currencies ✅ Card services with varied options depending on your tier | ❌ You need credit services or loans ❌ You prefer in person banking services |
How to open an account with Revolut
To open an account with Revolut:
Download the Revolut app
Enter your phone number and set a PIN - you'll get a verification message from Revolut
Use the verification code to access the app and enter the details needed to create your account
Upload the required documents for verification
You can deposit funds and use your account once verified
PostFinance non-resident account
If you're looking for a CHF account to use while living in Switzerland, PostFinance can help with a CHF account that's open to both residents and non-residents. It's worth noting that non-residents will pay an additional 25 CHF/month fee, plus transaction fees which include international ATM fees and charges when you want to send money overseas.
PostFinance CHF accounts also come with a debit card, online and mobile banking and some domestic fee free withdrawal options.
Postfinance account | |
|---|---|
Account | Accounts available for both Swiss residents and non-residents |
Eligibility | Non-residents can open the Smart or Smartplus Account in CHF for an easy way to manage your money in Switzerland |
Is Postfinance safe? | Yes. PostFinance is a large and reliable bank |
Fees | Smart account from 5 CHF/month, SmartPlus from 10 CHF/month, plus 25 CHF/month if you're not resident |
Linked debit card | For spending in CHF, and internationally |
Limits | Various limits including an annual ATM withdrawal limit of 50,000 CHF |
Postfinance is great for: | Postfinance may not be for you if: |
|---|---|
✅ Options for resident and non-resident customers ✅ Extensive branch network ✅ Some customers can apply online ✅ Low fees as a resident customer | ❌ You're looking for the lowest monthly cost as a non-resident ❌ You need multi-currency services |
How to open an account with PostFinance
Most resident customers can open their account online, but as a non resident you're likely to need to visit a branch in person. There's a tool on the PostFinance website which guides you as to the opening methods available based on your situation.
UBS non-resident account
UBS has a broad range of accounts for all purposes, some of which are offered to non-residents. You may find you have a broader range of non-resident accounts available if you're a cross border commuter and live in one of the countries neighbouring Switzerland. Many account packages are designed with this customer in mind, while other non-resident accounts may be more aimed at high wealth individuals, with a steep minimum balance requirement.
UBS account | |
|---|---|
Account | Range of accounts for both non-resident and residents in Switzerland |
Eligibility | Different accounts available for Swiss residents, cross border commuters and non-residents - talk to UBS directly to find the right account for you |
Is UBS safe? | UBS is a safe bank which is trusted by huge numbers of customers around the world |
Fees | Monthly account fees depend on the account and whether you need digital or paper statements |
Linked debit card | For spending in CHF, and internationally |
Limits | Various limits apply on transfers and transactions, which vary based on your selected plan |
UBS is great for: | UBS may not be for you if: |
|---|---|
✅ Good branch and ATM network ✅ Various different account services including ones with low monthly fees ✅ Credit and loan options ✅ Broad selection of products to suit different customer profiles | ❌ You want to avoid ongoing fees entirely ❌ You need to hold and exchange foreign currencies |
How to open an account with UBS
Open your UBS account online or in app if you're a Swiss resident. You can also open an account as a non-resident by making an appointment with a branch to set up your account face to face.
What are the costs?
There's a whole range of banking products available from Swiss banks. This means you have a good choice, but it also means you'll need to read all the details carefully. Some accounts are low cost, and meant for everyday spending. But - in particular with non-resident accounts - there are some which are aimed at people looking to deposit large amounts of money (100,000 GBP and up for example), which have high minimum deposit requirements and may also have some restrictions on usage.
Read your account's terms and conditions before you make any decisions. In particular look out for costs like these:
Minimum deposit requirement
Monthly maintenance fee
Out of network ATM fees
International transfer fees
Receiving fees for domestic and international payments
Foreign transaction fees
Tips for sending money between the UK and Switzerland
International payments with a bank can be pricey. If you're moving your money across borders check out these tips to save:
Compare the exchange rate you're offered against the rate you find on Google to see if a markup has been added
International transfer fees can vary depending on whether or not you're sending within the SEPA area
Review the terms and conditions of your specific account to check if it's cheaper to send your payment online - this is usually the case
Don't forget that third party fees may be deducted as the payment is processed, and can mean your recipient gets less than you expect
In many cases you'll find that using a specialist international money transfer company will net you a better exchange rate and a lower overall fee compared to your bank. They may also get your money where it needs to be faster. Compare a few before you send your payment.
How to transfer money to Switzerland from the UK without a local bank account
If you're relocating to Switzerland you may need to send frequent payments to and from CHF. Thisi can get expensive - and the fees are often added to the exchange rate rather than being shown transparently. That makes them hard to spot.
You'll need to shop around to find the best option for you - here are some to consider. In this comparison we've modeled a payment of 10,000 GBP to CHF to give you a feel for your options.
Fee | Exchange rate | Amount received | Transfer speed | |
|---|---|---|---|---|
Wise | 33.11 GBP | Mid-market rate | 11,110.19 CHF | 60%+ of transfers are instant, 80%+ arrive within an hour* |
Xe Money Transfer | Register an account to see a fee and rate quote | Rate includes a markup | Register an account to see a fee and rate quote | Variable delivery times |
OFX | No fee | Rate includes a markup | 11,008.47 CHF | Same day in most cases |
Currencyfair | 4 CHF | Rate includes a markup | 11,079 CHF | Variable delivery times |
*Details correct at time of writing - 15th May 2025 (*The speed of transaction claims depends on individual circumstances and may not be available for all transactions)
As you can see, in this example the recipient gets more with Wise, even though Wise has the highest fee. That's because Wise does not add a markup on the exchange rate but passes the mid-market rate on to customers. This is more transparent and makes it easier to compare your options - and can also be cheaper.
Can you keep using your UK bank account in Switzerland?
You'll need to check with your own bank if you can keep using your UK bank account in Switzerland because different banks will have their own rules. Often if you leave the UK you'll need to close your bank account as residency in the UK is required. If you are able to keep your account, check the fees for using it. Foreign transaction fees may apply on card spending for example, which can be pretty expensive.
Wise services like Wise and Revolut, you can open an account in the UK or Switzerland, and continue using it in both countries - the account will support GBP and CHF, and offer debit cards that can be used for spending and withdrawals in both countries.
What is a Swiss bank account needed for?
You may need a CHF or EUR account in Switzerland to pay for rent, utilities, everyday essentials and services if you're moving there. A CHF account can also allow others to pay you if you're a freelancer, cross border commuter or own a business.
Benefits of opening a bank account in Switzerland
Opening a CHF or EUR account can bring a few benefits if you need to transact in Switzerland often:
Make payments in CHF and EUR without incurring currency exchange costs
Hold a balance in CHF, and access preferential exchange rates
Get paid a salary, benefits or other payments in CHF
Get a local Swiss credit card and build your credit history
How to open a bank account online in Switzerland
You can often open your Swiss bank account online or in an app once you live in Switzerland, but you'll often need to visit a branch as a non-resident. Check out your preferred bank's processes, which usually involve completing an application from and uploading an image of your ID documents.
If opening your account digitally is important to you you might find that you're better off with a provider like Wise or Revolut which offers a fully digital application process.
How much money do you need to open a Swiss bank account?
Unless you pick a premium account type which requires a high minimum deposit, you'll probably find that there's no fee for opening your Swiss bank account. However, most Swiss bank accounts have monthly charges, and there are also likely to be transaction fees, including ATM and payment fees which can be pretty steep, especially for international transactions. Monthly fees may be higher if you're a non-resident customer.
It's worth investing the time to read the account fee schedule carefully before you get started, to make sure you don't run into any unexpected charges when you transact.
Is it possible to open a fee-free account in Switzerland?
Most Swiss bank accounts have monthly costs as well as a selection of transaction fees which depend on how you use your account. These costs may not look like the bank fees you're used to, so reading the account terms and conditions is essential.
If you're looking for an international account which has transparent pricing for services, compare the bank options you're considering against Wise and Revolut, as specialist services with clear and simple pricing and low costs.
Conclusion: Open a bank account online Switzerland
Opening a bank account in Switzerland isn't likely to pose too many problems. However, you'll want to look over the account features and fees carefully to make sure you're not hit by high monthly fees or minimum balance requirements.
One key issue with most standard Swiss bank accounts is that you'll only be able to hold one currency in them - usually either CHF or EUR.
If you want a more flexible account which lets you hold more currencies, check out an online and mobile specialist like Revolut or Wise. These modern alternatives are designed to serve people with an international lifestyle, and often have better exchange rates than banks, and low transaction fees when you're moving money across borders.
Open a Swiss bank account online FAQs
Can a foreigner open an account in Switzerland?
Yes. There are Swiss bank accounts for residents and non-residents - however non-residents may pay extra monthly fees to get an account.
How much do I need to open a bank account in Switzerland?
Non-resident accounts from Swiss banks usually have a monthly fee, and a minimum opening deposit requirement. Accounts aimed at high wealth individuals have especially high minimum deposit requirements. Online specialists often offer accounts with no monthly fees, no minimum deposits, and low transaction charges.
Can I open a Swiss bank account online?
Yes - you can often open Swiss bank accounts online if you're a resident - or you can choose an online and mobile alternative account from a provider like Wise or Revolut.
Can I open a bank account in Switzerland before landing?
Non-resident accounts are available from Swiss banks, which you may be able to set up before you arrive. However, you'll probably want to switch to a regular resident account once you're settled in Switzerland, as non-resident accounts can be expensive and restricted.