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Adam Abdellaoui
Of Counsel
Your consultant
Migros— Bank account opening in Switzerland
Date of last update: 12 January 2026
Migros Bank serves approximately 1.2 million customers as Switzerland's 10th largest financial institution, holding CHF 60.916 billion in assets as of 2024 — Migros Bank Annual Report (2024). Founded in 1958 by Gottlieb Duttweiler within the Migros cooperative movement, the bank positions itself as "the bank for people," offering transparent pricing and customer-centric solutions. Unlike traditional private banks, Migros Bank provides free everyday banking integrated with the Cumulus loyalty program. The bank operated around 70 Swiss locations and employed over 1,620 full-time equivalents at end-2023 — Migros Bank Annual Report (2024).
Many branches sit within Migros supermarkets, making banking accessible during regular shopping hours. For detailed information about the bank's history and mission, visit the official company overview.
Many branches sit within Migros supermarkets, making banking accessible during regular shopping hours. For detailed information about the bank's history and mission, visit the official company overview.
+41 (44) 5152530
Migros Bank Overview
Establishment
Founded 1958
By Gottlieb Duttweiler
Market Position
10th Largest
Financial institution in CH
Customer Base
1.2 Million
Private & Corporate clients
Total Assets
CHF 60.9 Bn
Migros Bank Annual Report (2024)
Financial Strength & Stability (2024)
Annual Profit
CHF 282m
Net profit for 2024
Customer Deposits
CHF 46bn
Total client assets
Customer Loans
CHF 50.6bn
Total lending volume
Capital Ratio
> 20%
High stability indicator
Industry Recognition
Cumulus Visa Credit Card rated 8.3/10 "Very good" in moneyland.ch customer satisfaction surveys (2024 & 2025).
Privatkonto M+ Fees & Conditions
Account Management 0 CHF (Free)
Visa Debit Annual Fee 0 CHF
Cumulus Credit Card Fee 0 CHF
Withdrawal at Migros/Denner/VOI 0 CHF
Domestic ATM (Non-Migros) 2 CHF
International ATM 5 CHF
Postal Paper Statements 1.50 CHF per document
Note: To avoid paper statement fees, deactivate the paper statement option under «Statements» settings in the E-Banking app.
How to open a Migros Bank account
01
Choose Account
Select standard private account or the M+ bundle (includes savings account and cards).
02
Digital Application
Download the E-Banking app. Process takes 10-30 minutes. Requires Swiss residence/workplace.
03
Information & ID
Complete verification via selfie and photo ID upload within the app.
04
Activation
Account activated after document review. No minimum deposit required for residents.
Important for Non-Residents
The M+ account is strictly for Swiss residents. Non-residents or those moving to Switzerland should contact support (+41 58 234 50 50) for branch appointments.
E-Banking & Mobile App
iOS & Android TWINT Integration Google Pay eBill & QR-Bill 2-Factor Authentication
Desktop Login via QR Code
1
Click 'Login' on migrosbank.ch and enter your contract number.
2
Open the Migros Bank E-Banking app on your smartphone or tablet.
3
Select 'QR-Code-Login am Computer' in app and scan the screen code.
Maria Werner
Of Counsel – specialized in corporate law and tax law
info@goldblum.ch
+41 (44) 5152530
Wealth & Retirement (2026)
Vorsorgekonto 3a
Max Annual Contribution (Employees) 7,258 CHF
Self-Employed Limit max. 36,288 CHF (Up to 20% of earned income)
Investment Insights
- Performance: Customer investment deposits grew 7.2% to 16.9 billion CHF in 2024.
- Strategy: Bank recommends 3-5% portfolio allocation to gold for diversification.
- Sustainability: Migros Pension Fund's sustainability index delivered 5.7% returns (through Oct 2025).
Contact & Support
Headquarters
Migros Bank AGSeidengasse 12
8001 Zürich
Switzerland
Helplines
Private Clients / Cards
+41 58 234 50 50
Mon-Fri 8:00-17:30
E-Banking Support
+41 848 845 400
Available 24/7
Frequently asked questions
Migros Bank operates on a transparent pricing model with most everyday banking services provided free of charge. The M+ account bundle includes zero annual fees, free debit card, and no charges for standard transactions like transfers, eBills, or TWINT payments. Specific operations may incur fees according to the official tariff schedule: 2 CHF for ATM withdrawals at non-Migros locations within Switzerland, 5 CHF for international ATM withdrawals, and service-specific charges for specialized transactions.
Migros Bank implements multi-layered security protocols for online banking protection. Two-factor authentication requires both login credentials and a registered device for access, with QR code scanning available for desktop login through the mobile app. All data transmission uses TLS (Transport Layer Security) encryption when technically possible. The bank operates continuous monitoring systems with anti-fraud measures to detect suspicious activity.
Migros Bank primarily serves Swiss residents and does not maintain specific programs for non-resident account opening as of 2026. Swiss banking regulations do not obligate banks to provide services to non-residents, leaving each institution to establish its own policies. Individuals planning to relocate to Switzerland should contact the bank at +41 58 234 50 50 to discuss account opening procedures once residence permits are secured.
Immediately block your card through the E-Banking mobile app or by calling the emergency hotline at +41 58 234 50 50 (available during business hours Monday-Friday 8:00-17:30). For 24/7 E-Banking support, contact +41 848 845 400. After blocking, order a replacement card directly through the mobile application or online banking portal.
You can only open a M+ bank account online. If you are 18+ and your place of residence and place of work are in Switzerland, you can open a M+ bank account online right now. The overall digital process takes between 10 and 30 minutes approximately. If you would rather open your account in a branch, comparable accounts and cards are available at any Migros Bank location.
You can only open a M+ bank account online. If you would rather open your account in a branch, comparable accounts and cards can be opened at any Migros Bank branch location.
To avoid paying the postage fee for paper statements, register for free in the one app and deactivate the paper statement option under «Statements» > «Statement settings». You can activate email notification and/or push notification upon receipt of a statement. Statements can be opened and downloaded as PDF files in your one app.
To log in via QR code: click 'Login' on migrosbank.ch, enter your contract number, open the Migros Bank E-Banking app on your smartphone, choose 'QR-Code-Login am Computer', and scan the QR code displayed on your computer screen.
You can apply for up to 3 additional cards free of charge for adults in your household who have the same residential address. Points collected with additional cards are credited to the primary card Cumulus account.
Adam Abdellaoui
Your personal contact
Of Counsel
Contact us to learn more about opening a Swiss bank account
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