SGKB Private Account

No age restriction and no account management fees. But the CHF 50 debit card changes things.

The SGKB Private Account ranks #23 among Switzerland's 45 private accounts. Offered by the Cantonal Bank of St. Gallen with no age restriction, it's a mid-range option from a well-established cantonal institution. At CHF 50 per year total, it does the basics reliably.

What Does CHF 50 Per Year Get You?

Account management is free. The CHF 50 annual debit card fee is your only cost. That's above the Swiss average of CHF 30-40 for a debit card, but you're getting a Mastercard Debit with full mobile and online banking. Domestic payments and SEPA transfers are both free.

Non-SEPA international payments cost CHF 4 each. Cash withdrawals at SGKB ATMs are free, but third-party ATMs in Switzerland cost CHF 2 and abroad it's CHF 5. Account management is also available in EUR, which adds flexibility if you receive or send euros regularly.

What Actually Stands Out

No age restriction is genuinely unusual. Most cantonal banks require you to be 20, 25, or even 30 years old. SGKB imposes no minimum age, making this accessible to teenagers, students, and older adults alike. If you're looking for an account without an age barrier, this removes a common obstacle.

The Cantonal Bank of St. Gallen carries a cantonal state guarantee, providing security beyond the standard CHF 100,000 deposit insurance. The EUR account option and free SEPA transfers make it practical for cross-border banking within Europe.

What Most Reviews Miss

The CHF 50 debit card fee is notably higher than competitors. Several cantonal banks offer debit cards at CHF 30-40. Over five years, that's CHF 50-100 extra compared to cheaper alternatives. Worth considering if the debit card fee is your primary cost driver.

Zero interest on your balance means your money doesn't work for you here. There's no contactless payment feature listed either, which is increasingly a dealbreaker for everyday purchases. For a bank in a tech-forward region like St. Gallen, this gap is surprising.

The Bottom Line

SGKB's private account is a reliable, age-restriction-free cantonal bank option with free SEPA payments and EUR account support. The CHF 50 card fee pushes it slightly above the pack. To find the best fit for your situation, use our find the best bank account for your needs tool.

Verdict: A solid cantonal bank account open to any age. The above-average debit card fee is the main drawback.