What documents do you need to open a Swiss bank account
Blog
How to Open a Swiss Bank Account as Expats & Non-Residents (2025)
Learn how to open a Swiss bank account in 2025. Discover the requirements, benefits, and expert tips for setting up your account in Switzerland.
Particulier
Professionelles
Introduction
Switzerland is well known for financial stability and privacy, which makes it a popular place for banking around the world. For expats and non-residents, knowing how to open a Swiss bank account is important for keeping money safe, managing finances across countries, and using global banking services easily.
Swiss banks are also known for being careful, reliable, and professional. From Zurich to Geneva, they offer services for many types of clients, whether you are moving for work, studying, or planning to invest in the long term. Learning how Swiss banking works will help expats follow the rules and avoid common mistakes.
Why Swiss Banks Are Trusted Worldwide
Swiss banks are trusted because they follow strict rules and strong regulations. The Swiss Financial Market Supervisory Authority (FINMA) ensures that banks operate safely and protect clients’ money.
For expats, Swiss banks offer useful services like multi-currency accounts, online banking, and easy international transfers. These features make it simple to manage money in Switzerland and in other countries.
What Documents Do You Need to Open a Swiss Bank Account?
Being well-prepared can save you from long delays. Swiss banks follow strict national and international rules to prevent fraud and tax evasion, so they will only process your application once every document is in order. Having your paperwork ready is one of the most important steps when learning how to open a Swiss bank account.
Standard documents you’ll need
Whether you live in Switzerland or abroad, these are the essential documents required by all banks:
- Valid passport or national ID: You’ll need a certified copy of your ID or passport. Some banks may ask for notarization or require you to verify your identity in person.
- Proof of address: This can be a recent utility bill, a government-issued letter, or a signed rental contract. If you’ve just moved, relocation or accommodation services in Switzerland can often help you obtain valid proof of address.
- Proof of income or employment: Provide your employment contract, recent payslips, or official investment statements. These documents show that your funds come from legal sources.
- W-9 or W-8BEN forms: These forms are needed to comply with international tax laws (FATCA). US citizens must complete a W-9 form, while non-U.S. applicants usually fill out a W-8BEN.
Extra documents for non-residents and business owners
If you’re a non-resident, you’ll likely need to sign a Declaration of Compliance confirming that you are up to date with tax duties in your home country.
For business accounts, banks will also ask for:
- Your company’s Articles of Association
- Business registration documents
- Details that verify the company’s real owner and ownership structure
Tips to make verification faster
Be clear about why you’re opening the account—whether it’s for salary deposits, investment, or international trade—and provide supporting proof. Send all your documents at once and make sure they’re readable and complete. Incomplete or unclear files are the most common reason Swiss bank applications get delayed.
How To Open a Swiss Bank Account? (Step-by-Step Guide)
Opening a Swiss bank account is easier when you follow a clear plan. These five steps will help you meet all requirements and activate your account smoothly.
Step 1: Choose your preferred Swiss bank
Think about whether you need a global, full-service bank like UBS for wealth management or a digital bank with lower fees for everyday use. Your choice should balance services, costs, and convenience.
To make the decision easier, check out this guide on the best bank account options for expats in Switzerland. It explains the pros and cons of different banks for newcomers.
Step 2: Prepare your documents
Collect your passport, proof of address, and financial documents. Digitize them in advance so you can upload them quickly. Having everything organized will make the process faster, especially if applying online.
Step 3: Submit your application
You can submit your application in person if you are already in Switzerland. Many banks also offer online or hybrid applications, which are convenient for expats who are still planning their move.
Step 4: Verification process and compliance checks
This step can take the longest. Banks perform KYC (Know Your Customer) and AML (Anti-Money Laundering) checks. They verify that your funds are legal and that you pay taxes correctly in your home country.
Be ready to answer questions about your income, business, or large deposits. Answer promptly and transparently to avoid delays.
Step 5: Deposit your minimum balance and activate your account
After approval, the bank will provide the final documents to activate your account. Transfer the required initial funds as stated by the bank. Once the deposit is processed, your Swiss bank account is fully active and ready to use.
What Are the Benefits of Having a Swiss Bank Account?
Opening a Swiss bank account is not just about prestige. It offers practical benefits that make it a smart choice for anyone managing money internationally. Understanding these advantages shows why learning how to open a Swiss bank account is an important step for expats, non-residents, and global professionals.
High security and privacy standards
Swiss banking laws still protect client information strongly. Your personal data is kept private under strict Swiss privacy rules, and unauthorized access is very difficult.
On top of legal protections, Swiss banks use advanced security systems and IT infrastructure. This combination is why many people trust Swiss banks to manage their savings and investments safely.
Currency diversification (CHF, EUR, USD)
Switzerland is a major global financial center, and its banks offer multi-currency accounts. You can hold Swiss Francs (CHF), Euros (EUR), US Dollars (USD), and sometimes other currencies in one account.
This feature helps expats manage money across countries and protect themselves from currency changes without constantly moving money between banks.
Stable banking system protected by Swiss regulations
FINMA, the Swiss Financial Market Supervisory Authority, regulates all banks in Switzerland. FINMA enforces rules on capital, liquidity, and stability to make sure banks operate safely.
Because of this strong oversight, Swiss banks have stayed stable even during global financial crises, making them a safe place to keep your money.
Convenient for cross-border transfers
Swiss e-banking is fast, secure, and widely trusted. Banks use advanced systems for international payments, salary transfers, and wealth management.
For anyone sending or receiving money across borders, Swiss banking is often faster, cheaper, and more reliable than many other countries. This makes it a great choice for expats, international workers, and business owners.
Who is Eligible to Open a Swiss Bank Account?
Almost everyone can open an account, but the required process depends entirely on where you currently live. Swiss banks warmly welcome clients who can pass their strict compliance checks, known as KYC (Know Your Customer).
The major distinction is between accounts for residents and non-residents. This key difference significantly affects the documents you need, the initial deposit requirements, and the fees you will be charged.
1. Swiss citizens and residents
If you already hold a B or C residence permit, opening an account is surprisingly easy and quick. Your proof of residence makes the initial compliance checks much simpler, as you are already registered in the country.
2. Foreigners and expats
Expats often move to major employment centers like Geneva or Zurich. They require local Swiss accounts for their salary payments and all daily expenses. Banks are highly skilled in processing the necessary documentation for this specific group.
If you're planning your relocation, checking Relocation Genevoise is a smart first step. Our services can help you find suitable housing, which is often a required document before you can finalize opening a resident bank account.
3. Cross-border workers
Known locally as "Frontaliers," these individuals live in neighbouring countries but commute to work in Switzerland. They specifically need a Swiss Franc (CHF) account to receive their salaries efficiently, avoiding extra foreign currency conversion costs.
4. International students
Many major Swiss banks offer specific student accounts with greatly reduced or sometimes waived monthly fees. To qualify, you must provide clear proof of enrolment at a recognized Swiss school or university.
5. Entrepreneurs and business owners
Business accounts demand more rigorous KYC and Anti-Money Laundering (AML) checks than personal accounts. The bank will focus heavily on validating the company's true beneficial owners and confirming the legal source of all operating funds.
6. Retirees and long-term visitors
Individuals with long-term visitor permits are also welcome to apply. However, you must be ready to clearly justify your specific source of wealth and recurring income to satisfy all regulatory requirements.
How Much Does It Cost to Open a Swiss Bank Account?
Opening a Swiss bank account is a smart move for those seeking financial security and global access, but it comes with costs to plan for. Non-residents typically need a minimum deposit between CHF 5,000 and CHF 50,000, depending on the bank and service level. Monthly maintenance fees usually range from CHF 10 to CHF 50, and private banking clients may face higher requirements.
Fees also vary by account type. A personal account is more affordable, while business or investment accounts cost more due to extra compliance steps. Major banks like UBS and Credit Suisse offer full-service banking at higher prices, whereas PostFinance provides simpler, lower-cost options. Digital banks such as Revolut Switzerland, Zak, and Neon are increasingly popular for their low fees and ease of use.
To save on fees, always maintain your minimum balance, choose e-banking packages, and consolidate your accounts under one provider. These small adjustments help you enjoy Swiss banking’s security and reliability—without unnecessary expenses.
Best Swiss Banks for Expats and Non-Residents in 2025
UBS is one of the best Swiss banks
The best choice depends entirely on your primary goal: full-service wealth management or low-cost daily banking. Here are the key options for anyone figuring out how to open a Swiss bank account successfully.
Traditional Swiss banks
- UBS: This is the largest universal bank in Switzerland. It is the top choice for comprehensive wealth management and high-net-worth individuals, benefiting from a massive global network.
- PostFinance: Owned and operated by the Swiss Post. It is widely accessible and used for everyday personal and business accounts. Non-resident fees can be surprisingly steep, so always check their exact rate card carefully.
- Zürcher Kantonalbank (ZKB): A very strong, reliable cantonal bank. They offer excellent, localized support, which is perfect if you are living in or frequently near the Canton of Zurich.
Digital / Neo-Banks
- Revolut: An excellent multi-currency and mobile-first solution. It is especially useful for recent arrivals or frequent expats who travel across borders often.
- Zak: A mobile-only bank backed by Bank Cler. It offers fee-free CHF accounts and very simple mobile management, though it focuses primarily on Swiss residents.
- Neon: A popular, modern digital bank known for its transparency and simple app-based account management. Like Zak, its best features are geared toward those with Swiss residency.
FAQ
The time frame varies significantly. For a resident with all the perfect documents, it may take one to two weeks. For non-residents, the compliance stage (KYC/AML) is longer, typically taking four to eight weeks, depending on the complexity of your funds' source validation.
Conclusion
Learning how to open a Swiss bank account is a detailed process that strongly rewards preparation and patience. Ultimately, the Swiss banking system delivers stability, critical currency diversification, and a high level of security that few other financial centers worldwide can truly match.
Whether you are an expat starting a new job or an international investor securing wealth, this meticulous process ensures your assets are placed in one of the world’s most trusted environments. For tailored guidance and streamlined relocation services, don't hesitate to reach out to our expert team via the contact form below.
If you’re planning a move or need help opening your account, our team at Relocation Genevoise can guide you through every step. You can also explore our relocation services to make your transition to Switzerland smoother.
Lucas
Blog & News
Our latest articles
Find our latest news, articles, and expert advice to help you choose the best insurance solutions.
Particulier
Everything You Need to Know About the Geneva Transport Card in 2025
The essential 2025 guide to the Geneva Transport Card (GTC). Get free, unlimited use of buses, trams, trains, and lake boats across Geneva's UNIRESO zone.
Louis-Marie Tortiello
3 December 2025
3 minutes read
Particulier
Cost of Living in Geneva (2025): What You Should Expect as an Expat
Moving to Geneva in 2025? Get a quick guide to monthly costs, from rent and LAMal insurance to groceries and transport, with comparisons to Zurich and London.
Lucas
26 November 2025
5 minutes read
Particulier
Swiss Culture and Traditions: A Simple Guide for Newcomers (2025)
Learn essential Swiss culture and traditions, from etiquette to regional differences, plus practical tips to help newcomers settle with confidence.
Lucas
19 November 2025
5 minutes read