Finding the best bank accounts in Switzerland
Here's the thing: the best bank account in Switzerland isn't some universal winner. It's whichever one fits how you actually use your money.
After testing Swiss banks for years (and yeah, building GetRates because I got tired of everyone giving generic advice), I've learned this: the choice basically comes down to whether you need physical branches or you're cool banking entirely online.
Someone who sends money abroad monthly needs something completely different than someone who just wants a free debit card. Simple as that.
What makes a Swiss bank account good?
Three things matter, and honestly, everything else is noise: fees, digital experience, and how you access your money.
Let's talk fees first. Digital banks charge CHF 0 monthly. Traditional banks? CHF 15 or more. Do the math: that's CHF 180 a year you're throwing away if you pick wrong. Not exactly retirement-threatening, but why pay for nothing?
Digital features determine whether banking feels smooth or makes you want to throw your phone. Real-time notifications, instant TWINT payments, a mobile app that doesn't feel like it was designed in 2008. These things save you actual time every week.
And here's what people don't admit: ATM and branch access matters way more than you think. That "free" account stops being free real quick when you're paying CHF 5 every time you need cash in your own neighborhood.
Top Swiss banks compared
Digital banks (the free ones)
Neon charges exactly zero francs monthly and has a genuinely good mobile app. No branches, obviously, but for daily stuff it works great. Just know you'll be solving any issues via chat, not face-to-face.
Yuh is the interesting one. Free banking plus you can invest through the same app. It's backed by PostFinance and Swissquote, so you get neobank features without worrying about whether your bank will exist next year.
Zak (Bank Cler) gives you free accounts with actual traditional bank backing. It's basically the best of both worlds if you want digital convenience but feel better knowing there's a real bank behind it.
Revolut crushes it for international stuff. Multi-currency accounts, exchange rates that don't rip you off, perfect if you travel constantly or get paid in foreign currencies.
Traditional banks (when you need humans)
PostFinance runs Switzerland's biggest ATM network. We're talking 4,000+ locations. At CHF 5 monthly, it's honestly pretty reasonable if you use cash regularly.
Raiffeisen is that community-focused option with 210+ local cooperative banks. Fees bounce around CHF 5-10 monthly depending on where you are, but you get that local bank feel.
UBS is now Switzerland's biggest bank after absorbing Credit Suisse. CHF 5-15 monthly gets you everything from mortgages to wealth management. It's the full package.
Zürcher Kantonalbank (ZKB) offers full-service banking with a cantonal guarantee (which is actually a big deal for safety). Super strong in Zurich, competitive rates on savings.
Want deeper detail on transaction accounts? Check our private bank accounts guide.
Types of Swiss bank accounts
Private accounts (your everyday account)
This is your main banking account. Salary goes in, bills go out, debit card attached. You know, the basics.
What you get:
- Debit card (Maestro or V PAY)
- Online and mobile banking
- Domestic transfers (usually free or cheap)
- Direct debit for bills
- Account statements and history
Here's what this costs: Digital banks like Neon charge nothing. Traditional banks want CHF 5-15 monthly. Most banks will waive fees if you're under 26, keep a minimum balance (CHF 5,000-25,000), or bundle products. But let's be honest, keeping CHF 25,000 sitting in a checking account just to avoid a CHF 5 fee is pretty silly.
Savings accounts
Savings accounts pay you interest for keeping money there. Swiss rates run 0.0% to 1.5% annually, which isn't exactly exciting, but it beats zero.
Your options:
Standard savings accounts: You can grab your money whenever. Interest rates are modest (0.0-0.5% annually). Good for emergency funds.
High-interest savings accounts: Better rates (0.5-1.5% annually), but you'll need CHF 10,000+ sitting there or you'll hit withdrawal limits. Worth it if you have the cash to park.
Youth savings accounts: Surprisingly competitive rates for kids and young adults. Some banks hit 2% for youth accounts, which is actually decent.
Fixed-term deposits: Lock up your money for 1-5 years, get 1-2% guaranteed. Pull it early and you'll pay penalties. Only makes sense if you're absolutely sure you won't need the cash.
For the full breakdown on savings accounts, hit up our best savings accounts page.
Specialized accounts
Youth and student accounts: If you're under 26-30, these are basically free money. No monthly fees, free debit cards, sometimes they throw in travel insurance or mobile phone insurance just because. Milk this while you can.
Salary accounts: Built for receiving your paycheck. Free incoming transfers, discounted services. Some employers have deals with specific banks, which might be worth checking out (or might be a trap, see the mistakes section below).
Joint accounts: For couples or families. Everyone has equal access, everyone has equal responsibility. Which means everyone can drain it, so choose your account partners wisely.
Foreign currency accounts: Hold USD, EUR, GBP, whatever, without getting hammered by conversion fees. If you're an expat getting paid in foreign currency or you travel constantly, these make a lot of sense.
Best bank accounts by user type
Best for expats and foreigners
Look, opening a bank account in Switzerland as a foreigner requires a residence permit (B, C, or L) and a Swiss address. Some banks make this painless, others make you feel like you're applying for state secrets.
Go with these:
- Neon: Online signup in literally 10 minutes with video ID. Done.
- UBS: Solid English support and they're used to dealing with international people.
- Revolut: Easiest onboarding by far. Works even while you're waiting for your Swiss permits to process.
What you'll need: Valid ID, residence permit, proof of address, sometimes employment docs. Digital banks process this way faster than making appointments at branches.
Best for students
Pretty much every bank offers free accounts if you're under 26-30. Take advantage.
Best picks:
- Neon: Free no matter what (age doesn't matter)
- PostFinance Smart Account: Free under 26
- UBS Youth Account: Free under 25, plus some bundled perks
Pro tip: Just go for zero fees. Don't overthink it. Your needs will totally change after graduation anyway, and switching banks costs nothing.
Best for families
Families usually need accounts that can handle shared expenses, savings accounts for kids, and the occasional branch visit when things get complicated.
Solid choices:
- PostFinance: Massive branch network when you need actual humans
- Raiffeisen: Community banking vibe, family-friendly products
- ZKB: Good family packages, savings bonuses for kids
Best for frequent travelers
If you travel internationally, you're probably hemorrhaging money on exchange fees and ATM charges without realizing it. The right account fixes this.
Travel-smart options:
- Revolut: Best exchange rates, period. Multi-currency accounts.
- Neon: Competitive foreign ATM fees
- Yuh: Good rates plus Swiss banking stability
Pro tip: Pair your bank account with a travel credit card for insurance and rewards. Double dipping works.
Do Swiss bank accounts pay interest?
Most Swiss checking accounts pay zero percent interest. They're built for transactions, not growing your money.
Where you actually earn interest:
- Standard savings accounts: 0.3-0.8% annually
- High-interest savings: 0.8-1.2% annually
- Fixed-term deposits: 1.0-1.5% annually
If you care about earning interest (and you should), open a separate savings account. Don't expect your checking account to do anything except sit there.
Better yet, look into pillar 3a products for tax-advantaged savings. Your contributions reduce your taxable income, which is basically free money.
Hidden costs most people miss
Monthly fees are right there in your face. The hidden costs? Not so much.
Watch out for these:
- Paper statements: CHF 3-5 monthly (just go digital, seriously)
- Domestic transfers: CHF 0-2 per transaction at some banks
- International transfers: CHF 5-15 plus a 1-2.5% exchange rate markup
- Foreign ATM withdrawals: CHF 5-10 every single time
- Account closure fees: CHF 0-50 (yes, they charge you to leave)
Here's the thing: That "free" account charging CHF 5 for foreign ATM withdrawals? If you travel monthly, you're paying CHF 60 a year. Meanwhile, a CHF 5/month account with free international ATMs costs you CHF 60 but saves you way more if you're a traveler.
Do the math based on how you actually use your account, not what sounds good.
Swiss deposit protection explained
Swiss banks protect your deposits up to CHF 100,000 per person per bank. This covers all Swiss-licensed banks through the Swiss Bankers Association scheme.
How safe is your bank?
- Cantonal banks (like ZKB): Extra cantonal government guarantee on top
- Major banks (UBS, PostFinance): Systemically important, crazy strict capital requirements
- Digital banks: Same CHF 100,000 protection as everyone else
FINMA regulates all of them. Switzerland's banking system is genuinely one of the safest in the world. Unless you're keeping more than CHF 100,000 in a single bank (in which case, spread it around), you're fine.
How to open a Swiss bank account
Digital bank process (10-15 minutes, seriously)
- Download the app
- Fill in your info
- Do video identification (scan passport, take selfie)
- Sign electronically
- Get your account details in 1-3 days
Done. That's it.
Traditional bank process (1-2 weeks because bureaucracy)
- Schedule appointment or apply online
- Show up with all your documents
- Fill out forms
- Wait 3-5 days for approval
- Wait more for your debit card to arrive
Required documents
Swiss residents need:
- Valid ID (Swiss ID or passport)
- Proof of address (utility bill or rental contract)
- Sometimes employment verification
Foreign residents also need:
- Valid residence permit
- Work permit docs
- Maybe an employer letter
The Swiss State Secretariat for Migration has official info on residence permits if you're still waiting on yours.
Common mistakes when choosing a bank
Mistake 1: Just using your employer's bank
Look, when you're new and your employer suggests a bank, it's tempting to just go with it. But that convenience can cost you real money if their recommended bank charges way more than alternatives. Always compare.
Mistake 2: Dismissing digital banks
Digital banks like Neon and Yuh match or beat traditional banks on features while charging CHF 0 monthly. Being skeptical of "new" banks? That skepticism costs you CHF 60-180 a year in unnecessary fees. They're properly regulated, properly insured, and they work.
Mistake 3: Not doing the total cost math
A bank screaming "FREE ACCOUNT!" might charge you for every ATM withdrawal, paper statement, and transfer. Add it all up based on how you'll actually use it. The headline price isn't the real price.
Mistake 4: Thinking you need just one account
Most Swiss residents I know have 2-3 accounts. One for daily transactions, one for savings, maybe a digital bank for travel. Each one optimized for different things. It's not complicated and it saves money.
My approach to Swiss banking
After testing most Swiss banks over the years, here's what I actually use (not what I tell people they should use, what I personally do):
Primary account: Traditional bank with branch access for complex stuff like mortgages and business banking
Daily transactions: Digital bank app for instant payments and TWINT
Travel and international: Revolut for foreign currency and overseas ATMs
Savings: Separate high-interest account (not my transaction bank)
This multi-account setup costs me less than a single "all-in-one" account would, and I get better features for each specific thing I need. It's not complicated once you set it up.
Frequently asked questions
What is the best bank in Switzerland?
There isn't one. For lowest fees, Neon and Yuh charge CHF 0 monthly. For branch access, PostFinance has the biggest ATM network. For expats, UBS does international well. No bank wins everything. Use our comparison table above and pick based on what you actually need.
Which Swiss bank is best for foreigners?
UBS and PostFinance handle foreigners well with English support and international experience. Neon and Revolut make online signup way easier. You'll need a valid residence permit, Swiss address, and ID no matter what. Digital banks process faster than traditional branches.
Are there free bank accounts in Switzerland?
Yep. Neon, Yuh, and Zak are all CHF 0 monthly. Traditional banks offer free accounts if you're under 26 or keep minimum balances (CHF 10,000-25,000). Free accounts work just fine for normal transaction stuff.
What is the cheapest bank account in Switzerland?
Neon, Yuh, and Zak are all free. Among traditional banks, PostFinance is CHF 5 monthly. But here's the catch: total cost depends on your usage. Some free accounts hammer you on ATM withdrawals or international transfers. Do the math.
Can I open a Swiss bank account as a non-resident?
Not really. Most Swiss banks need valid residence permits. UBS and some private banks will take non-residents for wealth management if you have serious money (think CHF 100,000+). Tourists and short-term visitors are basically out of luck for standard accounts.
Which bank has the best interest rates in Switzerland?
Cantonal banks and specialized savings accounts usually top the list. Checking accounts pay 0% interest. Savings accounts range 0.5% to 1.2% depending on type and balance. Check our savings account comparison for current rates. Or better yet, look at pillar 3a accounts for tax-advantaged returns.
How do I switch banks in Switzerland?
Open your new account first. Then move your direct debits and standing orders (most banks help with this). Takes 2-4 weeks typically. Only cancel your old account after everything transferred successfully. Keep the closure paperwork for tax records.
Is UBS or PostFinance better?
UBS if you need wealth management, international services, or complex banking. CHF 5-15 monthly. PostFinance if you want straightforward retail banking with Switzerland's biggest ATM network (4,000+ locations) and lower fees (CHF 5 monthly). Pick based on complexity vs. simplicity.
What happened to Credit Suisse accounts?
Credit Suisse merged with UBS in 2023. If you had a Credit Suisse account, you now have a UBS account. Same services, different name. Everything transferred over.
