Free Bank Account Switzerland

Good morning,

I would like to open bank account in Switzerland.

Do you know which bank is offering a private bank account for free with deposits of 10000-30000 CHF? Do you know if I need to go directly to the bank to open the account or is it possible to open an account online?

I am planning to come to Switzerland in June.

Which bank will be the cheapest regarding fees of private bank account. Thank you very much.

Best Regards

Good morning

Generally, there is no free private account in Switzerland. Depending on how you want to use your account, different fees apply. You can see the fees of relevant Swiss private accounts for your user profile in the private account comparison tool on moneyland.ch.

Generally, you still have visit the bank in person if you want to open a bank.

Most importantly: Swiss banks charge additional fees to customers who live outside of Switzerland. You can find the most important information on Swiss bank fees for non-resident customers here.

Best regards

Dear All,

I would like to ask to open online bank account, I am non-resident of CH but in Poland, I am looking for a free of charge bank account without any fees. Does any bank offer a free bank account? I would like to keep saving money in Euro.

How much money in Euro do I need to be free of charge? And also with a free bank card? What about the payment costs?

What kind of documents do I need? Should I come to a bank in Switzerland anyway?

>I am non-resident of CH ... looking for a free of charge bank account

Such accounts don't exist

> How much money in Euro do I need to be free of charge?

A few millions that you'd be willing to deposit at zero interest rates might interest a banker or two to cut you a "free" deal...

Hi wojt20061,

Many Swiss banks offer euro savings accounts with ATM cards (not debit cards) and generally do not charge annual fees for these - although credit interest paid for your savings varies between very low and non-existent. However, as a non-resident, you will be charged non-resident fees by most Swiss banks, which can be very high. You can find an explanation and download a comparison of non-resident fees in the moneyland.ch guide to non-resident fees.

Currently, Swiss banks are not keen on accepting new non-resident customers due to increasing international regulations. While acceptance rules vary from bank to bank, you will generally find it difficult to find a Swiss bank willing to open an account for you. However, there is no Swiss law against banks accepting non-resident customers, so you are free to apply for accounts if you so choose.

Best regards from Moneyguru

To the point of the original of the original post, there are several bank accounts which work out basically free to use if you only use them for local banking. A couple of "cantonal banks" offer accounts with no annual fees for people who are willing to use online banking. You can generally withdraw money at the bank's own ATMs free of charge. You normally have to pay if you want a Maestro card (a debit card), but most banks offer a free "bank card" which you can use at their ATMs.

Check out the online only account from the Aargauische Kantonalbank with no annual fee. The online banking is decent with all the functions of the normal paid account, and you can use the ATMs from any cantonal bank to withdraw money. If you don't need the Maestro card then you don't pay annual fees.

Bank Cler offer an app-based account (ZAK) which includes a Maestro card and credit card and has no annual fee. Wire transfers are limited to Europe only. If that isn't a problem for you then I would recommend this account as a user. The bank has offices all over Switzerland and the customer service is good.

There is also another Swiss app-based account called Neon which comes with a Maestro debit card and doesn't have an annual fee. I haven't used it, but have a workmate that does and seems happy with it.

Both Neon and ZAK have some nice features. Honestly if all you need is a basic account to get your salary, make transfers from and pay or withdraw with a card, both of these will do for you. Both are really free if you only make Swiss transactions. Both Neon and ZAK only let you transfer money to SEPA countries.

If you travel much, Neon has an advantage of a fairly low spread on currency exchanges (1.5% markup on the interbank rates). I don't know what spread Bank Cler uses. Also the Neon debit card has a 1.8% foreign transaction fee and the ZAK debit card has a 1.50-franc foreign transaction fee. So Neon is maybe a bit better for small payments and ZAK for larger card payments outside Switzerland.

Neon is also cheaper for withdrawals outside Switzerland, as you pay 2 francs per withdrawal and with ZAK you pay 5 francs per withdrawal.

As your main bank in Switzerland though, I think Neon has some disadvantages. Neon has no bank branches or ATMs and you only get 2 free withdrawals per month, then 2 francs per additional withdrawal. Those are negatives for me.

Considering that both ZAK and Neon are free, I think the ZAK account from Bank Cler gives you more. It does all that Neon does, plus you get a free credit card linked directly to your account. You can deposit cash into your account at branches and many ATMs and you don't pay to withdraw your money at Bank Cler ATMs which you find in any Swiss city. You can also withdraw euros at Bank Cler ATMs. You can walk into a bank and get help if you need anything.

Hope this helps