Opening a Bank Account: Which is Best for me?

Dear Moneyland

First, thank you very much for your service; The info resources are very valuable, and the UX is nice. 

A few quick questions: 

• Is it better to set up as a USA or Israel citizen? I am both, so if there is some difference then it would be nice to know.
• Would a savings or a checking account be better? I would like a somewhat liquid account, but does not need to be full access. 
• Which CH banks like working with foreigners the most?

Many thanks :)
Ben 

Hi there,

Swiss banks typically do not accept new non-resident customers. Many banks make exceptions for applicants who sign up for their wealth managment services.

Many Swiss banks do not accept individuals who are tax residents of the US (including US tax residents residing outside of the US). Here too, exceptions may be made.

Banks typically process applications from non-residents on a case-by-case basis, so you can certainly apply for the account of your choice. In the best case, your application may be approved. If you still want to open a Swiss bank account you should first compare checking accounts to find the best deal. Then, contact the bank of your choice or apply online.

Important: Most Swiss banks charge additional account fees to non-residents. You can compare these non-resident fees here:
Swiss bank non-resident fee comparison

Brokerage accounts provide an alternative. In Switzerland, many stock brokers are registered banks. Some of these are more flexible than other banks with regards to accepting non-resident applicants.

Some Swiss neobanks accept new customers who are residents of countries that border Switzerland.

You can compare brokerage accounts offered by licensed Swiss broker banks here.

Best regards from Moneyguru