Swiss Banks: Which Is the Best?

Switzerland hosts more than 200 banks, and there is no one bank which ranks tops in every category.

The scope of services and cost efficiency provided by a bank usually varies between specific product categories and different banks perform best in different fields (read up on the best Swiss insurance companies here).

Private accounts, business accounts, 3a retirement account rates, savings account rates, medium term notes, bank loans, mortgages, stock trading, private banking – the services provided by banks are numerous.

But the chances of finding one bank which offers the most favorable conditions available across all of its products are slim. Using different banks to handle different aspects of your financial life has the added benefit of distributing risk across multiple institutions.

Even within a product category – mortgages for example – your specific customer profile can make a big difference in the conditions you receive. Getting free quotes and reviewing them before you settle on a banking product is generally a smart move.

If, on the other hand, you prefer a one-stop solution to banking, then getting a package deal which bundles several banking services makes sense. Many banks offer discounts and rewards programs to package deal customers.

Measuring offers by the following simple criteria is essential to choosing the right bank:

• Costs: Choose a bank which does not charge high fees for the products and services you need.
• Interest rates: Choose a bank with high yield rates for the interest-bearing products you want. Comparing rates on a regular basis is important because interest rates can change.
• Scope of services: Choose a bank which can deliver the full range of services you need, whether these are online or mobile banking tools, access to multiple stock exchanges or securities categories in online trading, credit card benefits, online banking security or sustainable investment policies.
• Service: Choose a bank which has a solid track record for customer satisfaction and solid customer service.
• Bank security: Investing your money in a creditworthy bank is essential – but the creditworthiness of banks is difficult to gauge. Large rating agencies publish official Swiss bank creditworthiness ratings. However, only a handful of Swiss banks are rated, and the accuracy of ratings is subject to controversy.
• Location: If you plan to visit the bank in person from time to time, you can make life easy on yourself by choosing a bank with a branch office near you.

Try out the leading Swiss bank comparisons now:
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