If you’re moving to Switzerland for work, study, or long-term residence, opening a local bank account is one of the first steps to settling in. A Swiss account will make it easier to receive your salary, pay rent and bills, and manage day-to-day expenses in Swiss Francs.

Switzerland’s banking system is world-famous for its security and reliability, but the process for newcomers is straightforward once you know what to expect.

Currency in Switzerland

Switzerland’s official currency is the Swiss Franc (CHF), often written as “Fr.” or “SFr.”

Although the country sits in the heart of Europe, it is not part of the Eurozone. Some shops near borders accept Euros, but all local transactions are done in Francs.

A local account lets you avoid conversion fees, pay bills easily, and make seamless payments using Swiss digital systems such as Twint, the country’s most popular mobile payment app.

Best Banks in Switzerland for Newcomers

Switzerland’s banks are known for reliability, discretion, and modern online services. Here are the top options for expats and new residents in 2026:

UBS

One of the largest and most international Swiss banks.

• Perk for newcomers: Dedicated expat packages and English-language online banking.

• Why choose it? Perfect for professionals or anyone needing international transfers and global access.

Credit Suisse (now part of UBS Group)

After merging with UBS, Credit Suisse services remain active and widely used.

• Perk for newcomers: Access to UBS infrastructure and global banking network.

• Why choose it? Trusted for international clients who require multiple-currency accounts.

Raiffeisen Bank

A cooperative bank with strong regional presence across Switzerland.

• Perk for newcomers: Personal service and local support in smaller towns.

• Why choose it? Great if you prefer face-to-face banking and community-oriented service.

PostFinance

Run by the Swiss Post, PostFinance offers easy, low-cost banking.

• Perk for newcomers: Straightforward account setup and full English website.

• Why choose it? Excellent for students and residents looking for simple, digital-first banking with low fees.

Migros Bank

Part of the Migros retail group, known for user-friendly online banking.

• Perk for newcomers: Transparent pricing and English-language options.

• Why choose it? Ideal for people who value efficiency and low maintenance costs.

Neon / Revolut (Digital Banks)

Modern app-based banking alternatives with full mobile functionality.

• Perk for newcomers: Quick sign-up, low fees, and no need to visit a branch.

• Why choose it? Perfect for freelancers, digital nomads, or anyone seeking flexibility and multi-currency management.

Documentation Needed

To open a Swiss bank account, you’ll need to present a few essential documents. Requirements vary slightly depending on your nationality and residence status, but generally include:

1. Valid Passport or National ID – Proof of identity.

2. Swiss Residence Permit (Ausländerausweis) – Required for non-Swiss citizens living or working in the country.

3. Proof of Address in Switzerland – Rental agreement, utility bill, or residence registration certificate.

4. Employment Contract or Proof of Study – Confirms your purpose of stay and source of income.

5. Initial Deposit – Some banks require a small opening balance (typically CHF 100–500).

If you haven’t received your residence permit yet, certain banks may allow you to open a temporary or non-resident account.

Tips for Opening a Bank Account in Switzerland as a Foreigner

• Decide between a resident and non-resident account: Non-resident accounts are easier to open from abroad but may come with higher fees.

• Ask for English support: Major banks like UBS, PostFinance, and Migros offer English documentation and apps.

• Compare fees carefully: Swiss banking is secure but not always cheap. Look at monthly maintenance, ATM withdrawal, and international transfer fees.

• Bring printed copies: Most banks still require paper copies of IDs and contracts during onboarding.

• Enable e-banking: Online and mobile banking are standard in Switzerland and will simplify all your payments.

• Get Twint: Once your account is active, download Twint, the Swiss mobile payment app used everywhere, from cafés to rent payments.

• Bank hours: Most branches operate Monday–Friday, 8:30 AM to 4:30 PM, and are closed on weekends.

Final Thoughts

Opening a bank account in Switzerland is an essential step to integrating smoothly into Swiss life. With its stable economy, secure financial system, and digital efficiency, managing money in Switzerland is both safe and convenient.

Traditional banks like UBS, Raiffeisen, and PostFinance provide strong personal support, while modern options like Neon and Revolut offer digital simplicity and lower costs.

Once your account is open and linked to Twint, you’ll be ready to handle payments, transfers, and savings, just like a local in one of the world’s most trusted banking environments.