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Welcome to Switzerland! A new country, new opportunities – and a pile of paperwork that only seems to grow.
Between flat viewings, starting your new job, and first appointments with the authorities, one question often pops up within the first week – and becomes urgent fast: How can I open a Swiss bank account as an expat – quickly, easily, and without endless paperwork?
Many expats go through the same experience:
The new employer needs an IBAN.
The property agency wants a Swiss address and a bank statement.
The credit card from back home doesn’t always work – and when it does, it’s often expensive.
In short: Without a bank account, nothing works. And that realisation comes sooner than expected.
Table of Contents
- Banking in Switzerland: what expats should know
- Personal service, strong structures – is a traditional bank worth it?
- Why choose a traditional bank?
- And the downsides?
- Fast, affordable, digital – what neobanks offer expats
- Why choose a neobank?
- And the downsides?
- 6 steps to find the right bank
- The big comparison: which Swiss bank suits your lifestyle best?
- Can I open a Swiss account online?
- Account opened – what else should expats consider?
- Conclusion: the best bank for expats? The one that fits your life
Banking in Switzerland: what expats should know
Switzerland is known for its reliable banks. But the high standards and thorough verification processes can make things challenging for newcomers.
Good to know: As an expat, you can open a Swiss bank account – if you meet these three criteria:
Residence permit (type B or C)
Swiss residential address
Valid passport or ID card
Attention: Not every type of permit will do. Check your chosen bank’s website to see which documents they accept – or just give them a quick call.
In cities like Zurich, Basel or Geneva, many banks offer support in English – one less hurdle to clear.
Personal service, strong structures – is a traditional bank worth it?
Traditional banks stand for security and in-depth advice. If you prefer face-to-face service, paperwork, and everything in one place, they’re a solid choice.
The usual names:
UBS
Cantonal banks like ZKB or BKB
PostFinance
Raiffeisen
Why choose a traditional bank?
Branch network and advice: Access to physical branches across Switzerland with in-person guidance – great for new arrivals or complex queries.
Full range of services: One-stop shop for current accounts, credit cards, savings, investments, loans, etc. – ideal for expats looking to manage everything in one place.
Stability and trust: Large and cantonal banks are financially sound.
And the downsides?
Fees: Account management, cards and international transactions often come with higher fees. Currency conversions usually follow a less favourable internal rate.
Less flexibility: Opening an account or making changes can be slow and involve more red tape – not ideal for busy expats.
Lagging digitally: E-banking is functional but often less innovative or user-friendly than what neobanks offer.
If you’re short on time or allergic to paperwork, you may want to consider other options.
Fast, affordable, digital – what neobanks offer expats
Which is the best bank in Switzerland? This question shows up on forums and Google searches as often as “Where can I find good, cheap bread in Zurich?”. The answer: it depends on your needs.
Why choose a neobank?
Low fees: Digital accounts often have no monthly charges. International payments and card use tend to be cheaper, thanks to better exchange rates and fewer hidden fees.
Simple account opening: Sign up via smartphone or PC in minutes. Video ID replaces the trip to the branch – ideal when you’ve just moved.
Smart features: User-friendly apps with real-time notifications, spending insights and live chat support. Some even offer multi-currency accounts or instant transfers.
And the downsides?
No branches: No physical locations. If you need help with complex matters, the lack of in-person advisors might be a drawback. One exception is Alpian – clients get access to certified advisers via video call directly in the app.
Limited extra services: Digital banks focus on core offerings. Mortgage products or full-scale pension advice are often missing – though providers like Alpian are expanding in these areas. Always check what’s included.
Tech dependency: Everything happens via the app – so you’ll need your smartphone and an internet connection.
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Open your free multi-currency bank account in only 10 minutes.
6 steps to find the right bank
There’s no one-size-fits-all bank – only the right one for your needs. This checklist can help you choose:
Compare account fees, card costs and international transaction charges. Look for hidden currency conversion mark-ups if you spend in foreign currencies.
Make sure the bank offers services in a language you’re comfortable with (many support English).
Decide whether having branch access matters. If you want to manage everything via app, digital banks are ideal. If personal contact is important, a traditional bank may suit you better.
If you have income or assets in multiple currencies or travel often, choose a bank with multi-currency accounts or favourable foreign transaction conditions.
Is it a FINMA-regulated Swiss bank with deposit protection? Swiss institutions guarantee deposits up to 100’000 CHF. Foreign fintechs are subject to different rules – know the risks.
Need more than just a current account? Check whether the bank also offers credit cards, savings, investments or loans – or whether you’re okay using different providers for each.
The big comparison: which Swiss bank suits your lifestyle best?
Important note: The above information is based on publicly available sources (as of May 2025). Bank conditions can change at any time. This table is for general guidance only and does not replace personal research or advice. Contact the bank directly for up-to-date information.
Can I open a Swiss account online?
Short answer: Yes. Digital account opening is now standard at most banks. Especially with online banks like Alpian, the process is fast and simple.
How it works:
Register via website or app
Verify your identity via video call or ID upload
Digitally sign the agreement
Receive your IBAN and start banking
Time required: around 10–15 minutes.
You’ll need:
Swiss residence permit (B or C)
Swiss address
Passport or valid ID
With traditional banks, the process may take longer.
Account opened – what else should expats consider?
Taxes: Most expats pay withholding tax, deducted directly from your salary. Check if your home country has a double taxation agreement with Switzerland.
Pensions: Learn about the 3-pillar system. Alongside AHV and your occupational pension, a voluntary Pillar 3a often makes sense.
Currency management: If you earn or save in multiple currencies, monitor exchange rates and banking costs carefully.
Conclusion: the best bank for expats? The one that fits your life
The best bank isn’t the one with the longest product list – it’s the one that fits your lifestyle. If you’re busy, travel often and use multiple currencies, you need a bank that’s flexible and tailored to your needs.
With Alpian, you can open a fully digital Swiss account in minutes – including multi-currency access, fair exchange rates and personal guidance from financial experts. No paper forms, no hidden fees. Just banking designed to fit your life.
Open your free Alpian account today and start settling into Swiss life with confidence.
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