Partner account Switzerland

Hello,

My girlfriend and I would like to have each of our private accounts with our own cards and everything, but on top of that we would like to have a joint (partner) account to which we would both send money from our paychecks (60%/40% based on our salaries) and pay all collective expenses like rent, common insurance, groceries, eating out, etc. - it should have 2 debit cards (for her and for myself) and the ability for both of us to make payments/transactions from internet banking.

Is there such a product on the market? Thank you.

Regards,

Jozef

Good day

In principle, there are four possibilities:

1. you and your girlfriend each open a bank account. However, this is not a real joint account.

2. you or your girlfriend open a single bank account and give the other person power of attorney over the account. This is also not a real joint account. Possible advantage: Uncomplicated. Disadvantage: In case of dispute, one person can simply "kick out" the other.

3. the real joint account or "Compte Joint": the account is in the name of both persons. You both have individual signing rights. So you both can independently access and decide on the account balance without the consent of the other person. (Possible disadvantage: In case of death, the heirs of the other person can then have a say, but you can prevent this with an exclusion clause).

4. a collective account. Both persons have a collective right to sign. Both persons can only dispose of the account with the consent of the other person. 

Which solution is best for you also depends on your individual situation. 

Compare accounts

The actual joint account is offered by many larger Swiss banks and usually does not differ in terms of fees from a normal private account. 

For this purpose, it is best to use the private account comparison on moneyland.ch with debit card. (In your case, there is usually an annual fee for an additional debit card).

Note: For adult personal accounts, the "mobile bank" Neon is often the cheapest at the moment, but you can't set up a joint account there yet. 

Best regards from Moneyguru

More info:
Account comparison including debit card

Most Swiss banks give you the option of opening a joint account. This is called a "compte joint" or "Gemeinschaftskonto." Some banks call it a "Partnerkonto."

Basically, it is a standard private account, so many banks don't advertise couple accounts separately. But when you open the private account, you state that you want it to be a joint account. You then have to give both of your information, and you both have to sign.

Joint accounts have a number of advantages because both of you have full authority over the account on your own. Each of you has full authority to make transactions on your own without both of you having to sign. In the event that one partner becomes indisposed or dies, the account stays open and the other partner can continue to use it.

Other options are:

• You open a personal account and simply give your partner a power of attorney to access it. This is simple and doesn't require your partner's involvement, but their access if limited (and blocked in the event of your death).
• You can get a "family" banking package. This generally comes with a couple of accounts, a couple credit cards, and a couple debit cards. Possible issues that typically all included accounts are joint accounts, and you may find cheaper/better solutions individually.