Our Take on Bank CIC Private Account CHF
CHF 73 per year, 0.03% interest, and a 1.5% surcharge abroad. The numbers tell the story.
The Bank CIC Private Account ranks #24 among Switzerland's 45 private accounts. It's a traditional banking option from a mid-sized Swiss bank with a total annual cost of CHF 73. The tiny interest rate and steep foreign surcharges make it a niche choice at best.
Are the Fees Worth It?
You're paying CHF 25 for account management plus CHF 48 for a Visa Debit card, totaling CHF 73 per year. That's above average for what you get. Domestic payments and SEPA transfers are free, and non-SEPA payments cost CHF 4 each. Those per-transaction rates are standard.
The 0.03% interest rate is technically more than zero, but on CHF 50,000 that's CHF 15 per year. After subtracting the CHF 73 in fees, you're in the red. This isn't a savings vehicle by any measure. You're paying for basic transactional banking, nothing more.
What Actually Stands Out
Honestly, there's no standout feature here. Bank CIC offers a standard private account with Visa Debit, mobile banking, and online banking. It works. But nothing is remarkable compared to the 23 accounts ranked above it in our database.
The Visa Debit card is more widely accepted internationally than Mastercard in certain regions, which is a minor advantage. There's no age restriction, making the account open to everyone. Bank CIC has branches in Basel, Geneva, Lausanne, Lugano, Neuchatel, and Zurich, offering some in-person access.
What Most Reviews Miss
A 1.5% surcharge applies to all card payments and cash withdrawals abroad. Spend CHF 3,000 on vacation, and that's CHF 45 in surcharges on top of the CHF 5 per ATM withdrawal. For international use, this account is genuinely expensive.
The CHF 48 annual debit card fee is significantly higher than the CHF 20-40 range most competitors charge. Combined with the foreign surcharge, Bank CIC becomes one of the pricier options for anyone who travels. Even domestically, the total cost underdelivers compared to free or cheaper alternatives.
The Bottom Line
Bank CIC's private account is functional but uncompetitive. At CHF 73 per year with a 1.5% foreign surcharge and negligible interest, there are better options in nearly every scenario. See our best bank accounts in Switzerland ranking to find them.
Verdict: Below average. Hard to recommend unless you specifically need Bank CIC's branch locations in major Swiss cities.
Pros
- No minimum deposit required
- Modern mobile and online banking
- Free SEPA payments
Cons
- Annual management fee (CHF 25)
- Annual debit card fee of CHF 48
- No contactless payment
- Age restriction: There are no limitations.
Account Details
At a Glance
Account Mgmt
CHF 25/year
Interest Rate
0.03%
Debit Card Fee
CHF 48/year
Currency
CHF
Fees & Costs
Fees & Costs
Account Opening Fee
No fee
Account Mgmt
CHF 25/year
Debit Card Fee
CHF 48/year
Cash Withdrawal (Abroad)
CHF 5
Outgoing Payment (CH)
No fee
SEPA Payment
No fee
Non-SEPA Payment Abroad
CHF 4
Banking Features
Banking Features
Mobile Banking
Available
Online Banking
Available
Debit Card Options
Key Features
- High interest rate of 0.03%
- Mobile banking available
- Online banking available
- Debit Visa included
- Free cash withdrawals in Switzerland
- Low minimum deposit requirement
Age Requirement
No age restrictions
Withdrawal Terms
Withdrawal Terms
Account Closure
Free of charge
Additional Information
Additional Information
- 1.5% surcharge on foreign currencies
Calculate Your Annual Cost
Annual Cost Breakdown
You Pay Per Year
CHF 73
Rating by Category
Compare to Similar Accounts
Frequently Asked Questions
- Does Bank CIC's private account pay interest?
- Yes, 0.03% per year on the balance. Tiny in absolute terms (CHF 3 per CHF 10,000 held a full year, before tax) but worth noting because most private accounts in our database pay zero. Don't open the account for the interest, treat it as a marginal bonus on the balance you'd hold anyway.
- What's the total cost of pulling cash abroad with the CIC Visa Debit?
- CHF 5 per ATM withdrawal abroad plus a 1.5% surcharge on the foreign currency conversion. Pulling CHF 200 from a Bangkok ATM costs you CHF 5 fixed plus about CHF 3 in surcharge. For frequent travel, a Neon, Yuh or Wise card is far cheaper.
- Can I withdraw a large amount from the CIC account without notice?
- Up to CHF 500,000 per year without notice, with 3 months' notice for larger amounts. That's an annual cap, not a monthly one, so timing matters: a CHF 600,000 sale-of-property withdrawal needs to be planned across the calendar boundary. For everyday use, the cap is irrelevant.
How We Rated This Account
Wondering why Bank CIC Private Account CHF got its score? We rate Checking (Everyday) Accounts accounts using a weighted formula. Here's what counts.
Same formula for every account in this category. No exceptions.
Ready to Open?
Open the Bank CIC Private Account CHF today and start enjoying its benefits.