📋What you'll learn in this guide:
- Bank Comparisons: UBS vs PostFinance vs Neon vs Yuh
- Document Checklist: What you need to open an account
- Fee Comparison: Who charges for debit cards & transfers
- Our Recommendation: Best combo for new arrivals
Opening a Swiss bank account is one of your first tasks after arriving. But with so many options, how do you choose? Here's our comprehensive guide.
What You'll Need
Before visiting any bank, gather these documents:
Required Documents
- Valid passport: Must be current.
- Swiss residence permit: Or confirmation of Anmeldung.
- Proof of address: Rental contract usually suffices.
- Employment contract: Not always required, but helps with credit checks.
Traditional Banks
UBS
Best for: Full-service banking, international transfers, mortgages
- Account fee: CHF 5-10/month
- Debit card: CHF 40/year
- Wide ATM network
- English-speaking support
Credit Suisse (now part of UBS)
Existing accounts continue, but new accounts go through UBS.
PostFinance
Best for: Low fees, integration with Swiss Post
- Account fee: CHF 5/month
- Free domestic transfers
- Post office access
- Excellent app
Cantonal Banks (Kantonalbanken)
Best for: Local services, often lower fees
Each canton has its own bank. ZKB (Zurich) and BCGE (Geneva) are popular with expats.
Digital Banks
Neon
Best for: Tech-savvy expats, zero fees
- Account fee: Free!
- No minimum balance
- Great app
- Swiss IBAN
- Limited physical services
Yuh
Best for: Investing + banking combo
- Account fee: Free
- Built-in investment platform
- Partnership with Swissquote
- Modern interface
Revolut (Swiss IBAN)
Best for: Multi-currency, travelers
- Great exchange rates
- Multiple currency accounts
- Limited Swiss integration
Comparison Table
Bank Comparison Table
- Neon: Free. Best app. No physical branches.
- Yuh: Free. Investing focus. CHF 9 for card (one-time).
- PostFinance: CHF 5/mo. Great network (Post offices).
- UBS: CHF 5-10/mo. Full service. Global access.
Our Recommendation
Start with Neon or Yuh for day-to-day banking. They're free, modern, and you can be set up in days.
Add a traditional bank later if you need mortgages, investment products, or prefer in-person service.
Frequently Asked Questions
Can I open an account before arriving?
Most banks require you to be physically present in Switzerland. Neon and Yuh allow you to start the process remotely but need Swiss address verification.
Do I need to speak German/French?
All major banks offer English support. Digital banks especially cater to expats.
What about TWINT?
TWINT is Switzerland's mobile payment system. All banks listed above support it. Set it up immediately – you'll use it everywhere.
Which bank is easiest for new expats without Swiss credit history?
Digital-first options like Neon and Yuh are often easier to start with, then you can add a traditional bank later if you need mortgages or complex products.
Should I keep one bank or use two banks in Switzerland?
Many expats use two: one low-fee daily account plus one full-service bank for branch support and long-term products.
Good luck with your banking journey! For more finance tips, check out our Swiss Taxes Guide and Pillar 3a Guide to start saving money immediately.
Put This Into Action
If you move money across currencies regularly, compare costs with the Currency Tool, then plug your Swiss baseline into the Cost of Living Calculator so bank fees do not quietly erode your monthly plan.