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Bank account in Switzerland: opening, costs, terms and conditions
Bank account in Switzerland is account in Switzerland is one of the best ways to save your money and protect it from any losses. Despite the negative deposit rates, accounts in Swiss banks are not only a symbol of reliability but also open up the possibility of using other banking products and services - financing and asset management.
Opening of a bank account does not involve any significant problems or restrictions. However, banking compliance and onboarding procedures are quite long, require attention to the information provided by the client. The assistance of the local law firm or intermediary might be often helpful in these processes.
Opening of a bank account does not involve any significant problems or restrictions. However, banking compliance and onboarding procedures are quite long, require attention to the information provided by the client. The assistance of the local law firm or intermediary might be often helpful in these processes.
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Opening of a bank account in Switzerland.
Standard banks' conditions.
Conditions
Minimum deposit of CHF 20'000. The conditions for residents of the EU, Switzerland and third countries may vary. In a high-level bank, you will be asked to deposit at least CHF 250,000 permanently on the account, and on average about CHF 1 million.
Terms
The average duration of all procedures is up to 3 months (usually about 1.5 - 2 months). Politically Exposed Persons, individuals and legal entities from sanctions lists, or those who were previously rejected in the bank account opening will face retention.
Costs
The minimum cost of maintaining an account per year (bank charges) for foreign customers is CHF 1200 - this, sometimes, includes fees for payments settlement.
The process of bank account opening in Switzerland begins with the correct assessment of the capabilities.
It is not worth starting the process if you do not have a permanent income, if this is your only savings or the amount you want to deposit at your account is less than CHF 100'000.
In most EU countries, the minimum amount of state deposit guarantee is just EUR 100'000. Considering that the cost of an account opening with a Swiss bank will be at least CHF 2-3'000 - this becomes impractical.
It is not worth starting the process if you do not have a permanent income, if this is your only savings or the amount you want to deposit at your account is less than CHF 100'000.
In most EU countries, the minimum amount of state deposit guarantee is just EUR 100'000. Considering that the cost of an account opening with a Swiss bank will be at least CHF 2-3'000 - this becomes impractical.
Goldblum and Partners
We will help you not only to deal with the opening conditions but will also advise you on all the services that bank employees may offer you.
You may have slightly fewer funds than the minimum amount to open an account. But, having a permanent source of income, it is still possible to open an account if the communication with the bank is correct.
You may have slightly fewer funds than the minimum amount to open an account. But, having a permanent source of income, it is still possible to open an account if the communication with the bank is correct.
Why are we your best choice?
- European levelA Swiss law firm with an office in Zurich.1
- ExperienceOver 13 years of practice2
- RecognitionRecognized by international ratings in Banking and Finance3
- ObjectivityIndependent consultant: we are not affiliated with any banking group and do not give preference to anyone4
- HonestyThere are no intermediaries and overpayments - we are in Switzerland, and you get all the information first hand!5
Why us?
Goldblum and Partners is an independent law firm. We do not give preference to any bank.
This means that we work only for you and your tasks - no overpayments, no hidden "sales" of bank services.
We do not force you to buy anything from the bank or give them money for management - only your goals matter to us.
Contact us today - we speak several languages, work with more than 30 Swiss banks (and their Client Desks, focused on different regions of the world).
Our firm is highly ranked by international legal ratings. We will always be glad to see you in our office in Zurich!
This means that we work only for you and your tasks - no overpayments, no hidden "sales" of bank services.
We do not force you to buy anything from the bank or give them money for management - only your goals matter to us.
Contact us today - we speak several languages, work with more than 30 Swiss banks (and their Client Desks, focused on different regions of the world).
Our firm is highly ranked by international legal ratings. We will always be glad to see you in our office in Zurich!
Contacts
We will call you back!