Finding the best bank accounts in Switzerland
Choosing the best bank accounts in Switzerland requires careful evaluation of fees, services, and features that match your lifestyle and financial goals. The Swiss banking landscape offers exceptional diversity, from traditional banks with century-old reputations to innovative digital-only neobanks. With over 250 banks operating in Switzerland, residents can access world-class financial services backed by robust regulatory frameworks and deposit protection.
Swiss bank accounts combine legendary security, competitive services, and modern digital features. Whether you're a Swiss resident, international student, or expat professional, understanding your options ensures you select an account that minimizes costs while maximizing convenience and benefits.
Swiss banking landscape overview
Traditional banks vs digital banks
Traditional Swiss banks like UBS, PostFinance, and Raiffeisen offer comprehensive services through extensive branch networks, personalized advice, and a full suite of financial products. These established institutions excel at providing face-to-face consultations, wealth management, mortgage services, and complex financial planning.
Digital banks and neobanks including Neon, Yuh, Revolut, and Zak (Bank Cler) prioritize cost efficiency, user-friendly mobile apps, and streamlined services. These modern alternatives typically charge lower fees, often CHF 0 monthly, while offering features like instant notifications, budgeting tools, and competitive foreign exchange rates.
Key differences:
- Fees: Digital banks average CHF 0-3 monthly vs CHF 5-15 for traditional banks
- Branch access: Traditional banks offer 2,000+ branches nationwide vs digital banks' online-only model
- Services: Traditional banks provide mortgages, investment advisory, and insurance vs digital banks' focus on transactions and basic savings
- Account opening: Digital banks enable 10-minute online signup vs traditional banks requiring in-person visits
Major Swiss banks at a glance
UBS (Union Bank of Switzerland)
- Switzerland's largest bank following the 2023 merger with Credit Suisse
- Assets under management exceeding CHF 1.5 trillion
- Comprehensive banking services including private banking, wealth management, and retail banking
- Extensive global presence with branches in 50+ countries
- Account fees: CHF 5-15 monthly depending on account type and balance
PostFinance
- Switzerland's fifth-largest bank with 2.5 million customers
- Largest ATM network in Switzerland with 4,000+ locations
- Strong digital banking platform with mobile app and online services
- Account fees: CHF 5 monthly for standard accounts, free for youth under 26
Raiffeisen Switzerland
- Cooperative banking group with 210+ local banks
- Third-largest banking group by customer numbers
- Community-focused approach with personalized service
- Account fees: Vary by local branch, typically CHF 5-10 monthly
Zürcher Kantonalbank (ZKB)
- Largest cantonal bank with strong regional presence
- Full-service banking including mortgages and investment services
- AAA credit rating with cantonal guarantee
- Account fees: CHF 5-8 monthly for private accounts
Types of Swiss bank accounts
Private accounts (transaction accounts)
Private accounts serve as your primary banking hub for daily financial activities including salary deposits, bill payments, debit card transactions, and online banking. These accounts form the foundation of personal banking in Switzerland.
Typical features:
- Debit card (Maestro or V PAY)
- Online and mobile banking access
- Domestic bank transfers (often free or low-cost)
- Direct debit setup for recurring bills
- Account statements and transaction history
Fee structures vary significantly. Digital banks like Neon offer completely free private accounts, while traditional banks charge CHF 5-15 monthly. Many banks waive fees for students under 26, customers maintaining minimum balances (CHF 5,000-25,000), or those bundling multiple products.
For comprehensive analysis of transaction accounts, explore our private bank accounts guide.
Savings accounts
Savings accounts pay interest on deposited funds while maintaining reasonable access to your money. Swiss savings accounts typically offer interest rates from 0.0% to 1.5% annually, depending on account type, balance amount, and commitment period.
Account categories:
Standard savings accounts: Flexible access with modest interest rates (0.0-0.5% annually). Suitable for emergency funds requiring immediate availability.
High-interest savings accounts: Better rates (0.5-1.5% annually) but may require minimum balances (CHF 10,000+) or limited withdrawals.
Youth savings accounts: Competitive rates for children and young adults, encouraging savings habits early. Some banks offer up to 2% for youth accounts.
Fixed-term deposits: Lock funds for 1-5 years in exchange for higher guaranteed rates (1-2% annually). Early withdrawal typically incurs penalties.
For detailed savings account comparisons, visit our best savings accounts page.
Specialized accounts
Youth and student accounts: Free or heavily discounted accounts for individuals under 26-30. Features include no monthly fees, free debit cards, and sometimes bundled benefits like travel insurance or mobile phone insurance.
Salary accounts: Designed for receiving salary payments with free incoming transfers and discounted services. Some employers negotiate preferential banking terms with specific banks.
Joint accounts: Shared accounts for couples or families with multiple authorized users. Both parties have equal access and responsibility.
Foreign currency accounts: Hold balances in USD, EUR, GBP, or other currencies to avoid conversion fees. Useful for expats receiving foreign income or frequent travelers.
Key factors when comparing bank accounts
Monthly fees and charges
Base account fees represent the most visible cost. Calculate your annual banking costs by multiplying monthly fees by 12, then adding transaction charges.
Fee comparison:
- Digital banks: CHF 0-3 monthly (Neon: CHF 0, Yuh: CHF 0, Revolut: CHF 0-14)
- Traditional banks: CHF 5-15 monthly (UBS: CHF 5-10, PostFinance: CHF 5, Raiffeisen: CHF 5-10)
- Premium accounts: CHF 20-50 monthly with enhanced services
Additional charges to consider:
- Domestic transfers: CHF 0-2 per transaction
- International transfers: CHF 5-15 plus foreign exchange markup (0.5-2.5%)
- ATM withdrawals abroad: CHF 5-10 per withdrawal
- Paper statements: CHF 3-5 monthly (digital statements typically free)
- Account closure fees: CHF 0-50
Interest rates on savings
Swiss savings rates remain low by international standards but vary significantly across institutions. As of 2025, typical rates include:
- Standard savings: 0.0-0.5% annually
- High-interest savings: 0.5-1.0% annually
- Fixed-term deposits: 1.0-2.0% annually (depending on term length)
Interest calculation matters. Some banks calculate interest monthly, others annually. Compound interest accelerates growth over time. On a CHF 50,000 balance:
- At 0.5%: CHF 250 annual interest
- At 1.0%: CHF 500 annual interest
- At 1.5%: CHF 750 annual interest
Digital banking capabilities
Mobile apps have become essential for modern banking. The best bank accounts in Switzerland offer intuitive apps with comprehensive features:
- Real-time transaction notifications
- Instant payment capabilities (TWINT integration, QR-bill payments)
- Spending analytics and budgeting tools
- Digital receipt storage
- Instant card freezing/unfreezing
- Biometric authentication (fingerprint, face recognition)
- Contactless payment support (Apple Pay, Google Pay, Samsung Pay)
Online banking platforms should enable account management, transfers, payment setup, document access, and service requests without branch visits.
ATM and branch access
ATM availability affects daily convenience. Switzerland has approximately 7,000 ATMs nationwide.
Network access:
- PostFinance: 4,000+ ATMs (largest network)
- Bancomat network: 3,000+ ATMs shared by major banks
- Raiffeisen: 1,000+ ATMs at local branches
- Digital banks: Rely on partner networks, may charge withdrawal fees
Branch access considerations: Traditional banks operate 2,000+ branches for in-person services. Digital banks have no physical branches but offer video consultations and phone support. Consider your preference for face-to-face interactions when selecting accounts.
Customer service and language support
Swiss banks typically provide service in German, French, Italian, and English. Multilingual support proves crucial for expats and international residents.
Service channels:
- Phone hotlines (often 24/7 for emergencies)
- Email and online contact forms
- In-app chat (increasingly common with digital banks)
- Video consultations
- In-person appointments at branches
Response times vary from immediate phone support to 24-48 hours for email inquiries. Premium accounts often include priority service with dedicated relationship managers.
Who should choose which account type?
Young professionals and students
Best options: Digital banks and youth accounts from traditional banks.
Recommended accounts:
- Neon (CHF 0 monthly, excellent mobile app)
- Yuh (CHF 0 monthly, integrated investment options)
- PostFinance Smart Account (free under 26)
- UBS Youth Account (free under 25)
Why these work: No fees preserve limited budgets while mobile-first interfaces match digital-native lifestyles. Youth accounts often include travel insurance and mobile phone insurance as bundled benefits.
Families and middle-income households
Best options: Traditional banks with comprehensive services and competitive fees.
Recommended accounts:
- PostFinance E-Finance Account (CHF 5 monthly, extensive ATM network)
- Raiffeisen Private Account (CHF 5-10 monthly, local service)
- Bank Cler Zak Account (CHF 0 monthly, digital with traditional bank backing)
Why these work: Balance between cost and service. Access to mortgages, investment products, and financial planning as families build wealth. Branch access for complex questions and in-person support.
Expats and international professionals
Best options: Banks with strong international capabilities and multi-currency features.
Recommended accounts:
- UBS Personal Account (strong international presence, CHF 5-10 monthly)
- Revolut (multi-currency accounts, competitive FX rates, CHF 0-14 monthly)
- PostFinance International Account (good international services, CHF 5 monthly)
Why these work: Frequent international transfers, multiple currency holdings, and global ATM access matter for expats. English-language support and online account opening simplify onboarding for new Swiss residents.
For complementary financial products, consider exploring credit cards for international use that pair well with international banking needs.
High-net-worth individuals
Best options: Private banking services from major Swiss banks.
Recommended accounts:
- UBS Wealth Management Account (including legacy Credit Suisse private banking services)
- Julius Baer Private Banking
- Pictet Private Banking
Why these work: Dedicated relationship managers, investment advisory, estate planning, and exclusive services justify higher fees (CHF 50-200+ monthly). Access to alternative investments, structured products, and comprehensive wealth management.
Frequent travelers
Best options: Accounts with low foreign transaction fees and good FX rates.
Recommended accounts:
- Revolut (best FX rates, multiple currencies, CHF 0-14 monthly)
- Neon (competitive foreign ATM fees)
- UBS with multi-currency options
Why these work: Minimize costs on international ATM withdrawals and foreign currency purchases. Some accounts include travel insurance, making them natural companions to travel credit cards for maximum trip benefits.
Opening a bank account in Switzerland
Required documents
Swiss residents need:
- Valid ID (Swiss ID card or passport)
- Proof of address (utility bill, rental contract, or residence confirmation)
- Employment verification (work contract or pay slips)
- Tax information (sometimes required)
Foreign residents additionally need:
- Valid residence permit (B, C, or L permit)
- Work permit documentation
- Proof of Swiss address (rental contract or hotel confirmation)
- Sometimes employer letter or job contract
International students should provide:
- Student visa
- University enrollment confirmation
- Proof of sufficient funds (scholarship letter or bank statements)
- Swiss address (student housing or rental)
Application process
Digital banks (5-15 minutes):
- Download mobile app
- Enter personal information
- Video identification (passport scan and selfie)
- Sign terms digitally
- Receive account details within 2-3 days
Traditional banks (1-2 weeks):
- Schedule branch appointment or apply online
- Attend in-person meeting with documents
- Complete application forms
- Await approval (3-5 business days)
- Receive debit card and account details by mail
Processing times vary from immediate approval for digital banks to 1-2 weeks for traditional banks conducting thorough background checks.
Deposit protection
Swiss banking regulations protect deposits up to CHF 100,000 per customer per bank through the Swiss Bankers Association's depositor protection scheme. This guarantee applies automatically to all Swiss-licensed banks.
Safety considerations: Switzerland's banking system ranks among the world's safest with strict regulatory oversight from FINMA (Swiss Financial Market Supervisory Authority). Major banks maintain capital ratios well above regulatory minimums.
Methodology
Our banking experts analyze Swiss bank accounts through systematic evaluation of key factors affecting customer value and experience.
Fee analysis
We calculate total annual costs including monthly fees, transaction charges, ATM fees, and foreign currency markups. This comprehensive cost analysis reveals true account expenses beyond advertised monthly fees.
Service assessment
We evaluate digital banking platforms, customer service quality, branch accessibility, and additional services like investment access, credit facilities, and financial planning tools.
User experience research
We review mobile app ratings, online banking interfaces, account opening processes, and customer feedback to assess real-world usability and satisfaction.
Feature comparison
We compare account features including interest rates, payment methods, international capabilities, and integrated services to identify accounts delivering superior value propositions.
Frequently asked questions
What is the best bank in Switzerland for foreigners?
UBS offers excellent services for foreigners with English-speaking support, international expertise, and straightforward account opening for residence permit holders. PostFinance also provides good international services with multilingual support. Revolut and Neon provide easier digital onboarding for expats. Requirements typically include a valid residence permit, Swiss address, and identification documents.
Are Swiss bank accounts free?
Many Swiss bank accounts offer free options. Digital banks like Neon, Yuh, and Zak charge CHF 0 monthly fees. Traditional banks often waive fees for customers under 26, those maintaining minimum balances (CHF 5,000-25,000), or bundling multiple products. Standard accounts from traditional banks typically cost CHF 5-15 monthly.
Which Swiss bank has the lowest fees?
Neon, Yuh, and Zak (Bank Cler) offer the lowest fees with CHF 0 monthly charges for basic accounts. Among traditional banks, PostFinance provides competitive pricing at CHF 5 monthly with free accounts for youth under 26. Compare total costs including transaction fees, not just monthly charges, on our bank account comparison tool.
How much money do you need to open a Swiss bank account?
Most Swiss bank accounts require no minimum opening deposit. You can open accounts at Neon, PostFinance, or Raiffeisen with CHF 0. However, some accounts require minimum balances to waive monthly fees: UBS (CHF 25,000), ZKB (CHF 15,000), or specific savings accounts (CHF 10,000+). Check specific requirements with your chosen bank.
Can I have multiple bank accounts in Switzerland?
Yes, Swiss residents commonly maintain multiple accounts for different purposes: transaction accounts for daily expenses, savings accounts for emergency funds, and specialized accounts for foreign currency or investments. Multiple accounts help organize finances but ensure you minimize total fees and meet any minimum balance requirements.
Do Swiss banks pay interest on checking accounts?
Most Swiss private accounts (checking accounts) pay 0% interest as they're designed for transactions rather than savings. Some banks offer minimal interest (0.01-0.25% annually) on high balances. For interest earnings, open dedicated savings accounts offering 0.5-1.5% annually. Compare rates on our best savings accounts comparison.
What is the difference between UBS and PostFinance?
UBS ranks as Switzerland's largest bank with over CHF 1.5 trillion in assets following the 2023 Credit Suisse merger, focusing on wealth management, retail banking, and investment banking globally. PostFinance operates as a retail-focused bank with 2.5 million customers, offering the largest ATM network (4,000+ locations) and strong digital banking services. UBS provides comprehensive wealth services and global presence, while PostFinance excels at accessible, cost-effective retail banking with fees from CHF 5 monthly.
Should I choose a traditional bank or digital bank?
Choose traditional banks (UBS, PostFinance, Raiffeisen) if you value in-person consultations, need comprehensive services like mortgages and investment advisory, or prefer branch access. Choose digital banks (Neon, Yuh, Revolut) if you prioritize low fees (CHF 0 monthly), excellent mobile apps, and purely digital interactions. Many Swiss residents maintain both: traditional banks for primary banking and digital banks for specific use cases like travel.
How do I close a Swiss bank account?
Account closure typically requires written notice to your bank, either online, by mail, or in person. Withdraw or transfer remaining balances, cancel direct debits and standing orders, and return debit cards. Some banks charge closure fees (CHF 0-50). Digital banks enable online closure within the app. Allow 2-4 weeks for complete closure. Keep closure confirmation documents for tax records.