How can we support you?
We use cookies to provide the best site experience.
Bank account in Switzerland: opening, costs, terms and conditions
Bank 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.
Want to know the cost and conditions?
Fill out the form: so, we can find the best options for you. We do not share your data with banks and third parties during the pre-check.
Leave a request - we'll call you back and clarify the details.
Opening 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 payment settlement. But this can vary significantly depending on the bank and the type of account.
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 15 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!
Frequently Asked Questions
We are a leading firm in providing quality and value to our customers. Each member of our team has at least 5 years of legal experience. We love what we do.
The average duration of the account opening process in Switzerland is typically between 1.5 to 2 months. However, it can take up to 3 months, depending on the client's circumstances and the bank's due diligence procedures.
The minimum cost of maintaining a Swiss bank account for foreign customers is approximately CHF 1,200 annually. This fee often includes charges related to payment settlements and other basic banking services.
Yes, the conditions for opening a Swiss bank account may vary depending on whether the applicant is a resident of the EU, Switzerland, or a third country. EU residents generally have conditions similar to Swiss residents, but specifics can vary by bank.
Opening a Swiss bank account with less than CHF 100,000 is generally not recommended, as the costs and conditions might outweigh the benefits. Additionally, a permanent income source is usually required for account maintenance.
Engaging a local law firm or intermediary can be beneficial when opening a Swiss bank account. These professionals can help navigate the lengthy compliance and onboarding procedures, ensuring a smoother process.
Politically exposed persons (PEPs) and individuals and entities on sanctions lists may face additional scrutiny and retention during the account opening process. This could lead to delays or even rejection.
Goldblum and Partners is an independent Swiss law firm based in Zurich. They assist clients in navigating the conditions for opening a bank account and provide advice on various banking services. The firm is recognized for its experience in banking and finance.
Swiss banks are renowned for their reliability and offer various banking products and services, including asset management and financing. Despite the negative deposit rates, Swiss bank accounts are considered a secure way to save and protect money from losses.
Before opening a Swiss bank account, consider whether you have a permanent income and whether the amount you plan to deposit is substantial enough (preferably over CHF 100,000). Also, consider the associated costs, which may include CHF 2,000-3,000 in account opening fees.
Contacts
We will call you back!