Business Savings Accounts in Switzerland Explained

While most people are familiar with personal savings accounts, many business owners are not aware that banks also offer savings accounts for companies. This moneyland.ch guide provides the most important information about savings accounts for companies, and compares offers from a number of Swiss banks.

How much does a business savings account cost?

Banks generally do not charge fees for opening a savings account. Most also do not have basic, ongoing account fees, though some banks do charge account fees. Some charge a fee per transaction after you reach a certain amount of transactions. For example, the Berner Kantonalbank charges a basic, ongoing fee of 4 francs per year. The Banque Cantonale du Valais charges 1.5 francs per transaction you make after reaching the threshold of 25 free transactions per year.

You may also be charged incidental fees such as fees for physical account statements if you choose to receive these by mail. Some banks only charge you for postage, while others also charge a fee for each physical statement (one franc, for example). Some banks charge for all account statements except the annual account statement. 

There are also banks that charge a fee for the annual statement you get at the end of each year. For example, Bank SLM charges a five-franc fee for this statement.

Fees for closing your account are also common. The fees vary between banks. Among others, the Basler Kantonalbank, Zuger Kantonalbank, and Bank Gantrisch charge 20 francs to close your account. Bank SLM and Bank EKI charge 10 francs.

How much interest do banks pay for money in business savings accounts?

Business savings accounts normally have higher interest rates than current accounts for businesses. Banks often give you a higher interest rate when you get the savings account as part of a business bank package. The average interest rates are different for different account balance tiers (see Table 1). The average rates shown in the table do not account for business bank packages. Typically, current accounts for businesses do not yield interest at all. 

Table 1: Average interest rate for Swiss business savings accounts by account balance tier

Source: Interest rates as published by 16 Swiss banks. Date: February 18, 2025.

The table below (Table 2) shows the interest rates of business savings accounts included in the moneyland.ch analysis.

Table 2: Interest rates of Swiss business savings accounts

Source: Interest rates published by the banks themselves. Date: February 18, 2025.

Can we open a business savings account on its own without a current account at the same bank?

Some banks require you to open a business account (current account) before you can open a business savings account. But there are other banks, like Migros Bank, that let you open a savings account on its own.

If a bank only lets you open a business savings account in combination with their current account, then it is advisable to compare the costs of the current account as well. The interactive business account comparison on moneyland.ch makes it easy to compare current accounts for companies.

Are there business savings accounts that are denominated by foreign currencies?

Most Swiss banks that have savings accounts for companies offer them in both franc-denominated and euro-denominated varieties. A few banks, like Raiffeisen Switzerland, offer business savings accounts denominated in other currencies as well (US dollars, for example).

Are there limitations for withdrawals from Swiss business savings accounts?

The general rule is that the higher the interest rate is, the tighter the limitations on withdrawals are. Withdrawal limitations vary broadly between offers. Some banks only let you withdraw money from your account at the end of the required notice period. Common withdrawal limits are 50,000 francs per month, 50,000 francs per year, and 100,000 francs per year. Refer to Table 3 for detailed information.

If you want to withdraw more money than the limit allows for, you have to give notice in advance, in keeping with the required notice period. If you fail to give the required notice, you will be charged a penalty fee for the withdrawal. Many banks charge a penalty fee equal to two percent of the portion of your withdrawal that exceeds the limit.

Example: A company has a business savings account at the Aargauischen Kantonalbank (AKB). There is a 100,000-franc annual limit for notice-free withdrawals. A 60-day notice period is required for withdrawals above that amount. The company withdraws 150,000 francs for an urgent investment without giving the required notice. The bank charges the client a two-percent penalty fee on the excess 50,000 francs. So the company pays a 1000-franc penalty for the withdrawal.

Which notice periods apply to business savings accounts?

Typically, banks require notice either one month or three months before the withdrawal. There are also banks that require two months, six months, or twelve months of notice. The table below (Table 3) shows the conditions and notice periods for withdrawing money from the analyzed business savings accounts. 

Table 3: Overview of withdrawal limits and notice periods for business savings accounts

Source: Data published by banks. Date: February 20, 2025.

What is the difference between a business current account and a business savings account?

There are a number of differences between business current accounts and business savings accounts. These include:

• Interest: Business savings accounts normally yield more interest than business current accounts.
• Withdrawal limitations: Current accounts do not normally have any limitations on withdrawals at all. Business savings accounts, on the other hand, almost always have limitations.
• Transactions: Unlike business current accounts, business savings accounts are not really suitable for making financial transactions. Many banks only let you transfer money to and from your other accounts at the same bank. Banks that do allow transfers to other accounts typically charge high fees for these transfers.

Can I open more than one business savings account?

Most banks only allow you to open a single business savings account. Banks that offer business savings accounts in different currencies or with different notice periods may let you open different kinds of savings accounts. Bank WIR lets you open up to five business savings accounts.

Does the Swiss bank depositor protection scheme cover business savings accounts?

Yes, bank depositor protection applies to both personal and business customers. If your bank were to go bankrupt, your account balance would be protected up to a limit of 100,000 francs. That limit is for all account balances at that bank that are registered to the same customer, including savings accounts, private accounts, current accounts, and business accounts. It also applies to medium-term notes in the same customer relationship.  

Are there any alternatives to business savings accounts?

Medium-term notes for companies are an alternative to business savings accounts. These notes are offered with fixed terms of between two and 10 years. The interest rate remains fixed for the full bond term. Some banks only offer medium-term notes in combination with a business account at the same bank.

Important: Money invested in medium-term notes cannot be withdrawn until the end of the fixed term. Cashing out medium-term notes ahead of schedule is possible, but banks charge high penalty fees.

Other aspects to consider before using business medium-term notes include:

• Minimum investment: Many banks only issue medium-term notes with a minimum face value of 5000 francs.
• Interest rates are only available on request: Banks do not openly publish the interest rates for investments that exceed a certain threshold (commonly 100,000 or 500,000 francs). For larger amounts, you will have to request a quote to find out the interest rate.
• Costs: Most banks do not charge any fees for medium-term notes.
• Denominations: Typically, each medium-term note has a face value of 1000 francs.

More on this table:
Compare Swiss business accounts now
Compare Swiss business loans now
Key tips for choosing a business loan