Migros Bank: Swiss retail bank account
Marcus Altenburg, Published
Migros Bank is a retail bank based in Zurich, founded in 1958. It works with international clients, so a non-resident can open an account here when the source-of-funds file is clean. As a retail bank, it typically expects little or nothing for residents, though non-resident access is limited — as of July 2026, and not a published per-bank figure.
About Migros Bank
Retail and commercial banking primarily for customers resident in Switzerland; non-resident onboarding is limited and not a standard offering.
| Type | Retail bank |
|---|---|
| Head office | Zurich |
| Founded | 1958 |
| Legal name | Migros Bank AG |
| Assets | CHF 60.9 billion total assets (as of 2024) |
| Employees | around 1,620 (2023) |
| Part of | Federation of Migros Cooperatives |
| Capital ratio | above 20% |
| Service languages | English, German, French, Italian |
| Regulator | FINMA (Swiss Financial Market Supervisory Authority) |
| Non-residents | Accepts international clients |
- Founded in 1958 by Gottlieb Duttweiler within the Migros cooperative movement.
- Wholly owned by the Federation of Migros Cooperatives; around 70 branches nationwide.
What Migros Bank offers
- Everyday banking, debit and credit cards
- Savings and investment accounts
- E-banking and TWINT
- Mortgages
- Pillar 3a retirement accounts
Can a non-resident open an account at Migros Bank?
Yes. Migros Bank assesses each non-resident applicant on source of wealth, source of funds and risk profile, and runs an English-language service for international clients. The decisive factor is a documented source of funds, not nationality. Assemble the evidence (tax returns, sale or employment records, a clear paper trail) before you approach the bank.
How to open an account at Migros Bank
- Confirm your profile and the account type. Agree the type of relationship — personal, private-banking or corporate — and the likely minimum with a relationship manager.
- Assemble the documents. A valid passport, proof of address dated within three months, and evidence of the source of your funds and wealth (full checklist below).
- Verify your identity. Residents can usually start online or in a branch; a non-resident normally attends one in-person meeting at a Swiss office.
- Compliance review, then go-live. The bank runs its onboarding, AML and source-of-funds checks, then opens the account and issues access. Expect case by case once the file is complete.
Requirements: resident vs non-resident
| Requirement | Swiss resident | Non-resident |
|---|---|---|
| Typical minimum | Little or none | Limited / case by case |
| Identification | Branch visit | Branch visit, where accepted at all |
| Indicative timeline | one to two weeks | case by case |
| Remote opening | Sometimes | Rarely — usually one Swiss visit |
Documents you will need
- a valid passport or national identity card;
- proof of residential address dated within the last three months (utility bill, bank statement or official letter);
- evidence of the source of funds and source of wealth (tax returns, employment or sale contracts, business records, inheritance documents);
- a FATCA/CRS self-certification, plus beneficial-ownership declarations where a company or structure holds the account.
How your money is protected
Deposits at Migros Bank, as at every Swiss bank, are covered by the Swiss depositor-protection scheme (esisuisse) up to CHF 100,000 per client, per bank. Securities held in custody remain the client's property and are segregated from the bank's own balance sheet, so they are returned in full even if the bank fails. Migros Bank is supervised by FINMA, and reports a capital ratio of above 20%.
Is Migros Bank a fit for a non-resident?
As a retail bank, Migros Bank is built around customers resident in Switzerland. A non-resident without a Swiss footing will usually find a private or online bank the more realistic route.
If you would rather have this handled than explained, we prepare the source-of-funds file and introduce you to a suitable bank, and we can incorporate the company an account often sits behind. You can also compare Migros Bank with 35 other Swiss banks.
Official website: Migros Bank.
FAQ
Frequently asked questions.
01Can a non-resident open an account at Migros Bank?
Yes. Migros Bank is a retail bank in Zurich that works with international clients. As with any Swiss bank, approval turns on a documented source of funds and the bank's own onboarding checks, not on nationality alone.
02What kind of bank is Migros Bank?
Migros Bank is a retail bank, part of Federation of Migros Cooperatives, founded in 1958, based in Zurich. Founded in 1958 by Gottlieb Duttweiler within the Migros cooperative movement.
03What is the minimum to bank with Migros Bank?
There is no published per-bank minimum. As a retail bank, Migros Bank typically expects little or nothing for residents, though non-resident access is limited. The realistic entry point depends on the relationship rather than a fixed rule (as of July 2026).
04How long does it take to open an account at Migros Bank?
Typically one to two weeks for a Swiss resident and case by case for a non-resident, measured from a complete file. The compliance and source-of-funds checks are the main variable, not the paperwork itself.
05Can I open a Migros Bank account remotely, without visiting Switzerland?
Usually not entirely. Migros Bank normally expects a non-resident to attend one in-person meeting at its Swiss office; the rest of the process runs remotely.
06How are deposits at Migros Bank protected?
Cash deposits are covered by the Swiss depositor-protection scheme (esisuisse) up to CHF 100,000 per client, per bank. Securities held in custody are your property and are segregated from the bank's own balance sheet, so they are returned in full even in an insolvency. Migros Bank is supervised by FINMA.
07Does Migros Bank serve clients in English?
Yes. Migros Bank runs an English-language service alongside German, French, Italian, so a non-resident can be onboarded and advised in English.
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