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Old 25.04.2012, 12:31
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Swiss Banks that allow accounts for US Residents

Does anyone know of a bank in CH that allows a US Resident to hold a basic account (not an investment account). I need a place to make small deposits for paying bills after I leave.

The Kantonalbank informed me today that they'll be closing my account after I leave CH. I've looked around at other banks, including Post, UBS and CreditSuisse, but I'm finding the same answer.
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Old 25.04.2012, 15:07
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Re: Swiss Banks that allow accounts for US Residents

I just received a packet in the mail yesterday from Migros bank informing me that they are changing their policy towards US customers.

In the packet, they mention they do have an offer for customers who are domiciled within the US.

Frankly, I haven't had the time to look over everything (and I'm sure I won't understand it 100% without some time) but it would be worth it for you to go and talk to them.
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Old 25.04.2012, 15:43
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Re: Swiss Banks that allow accounts for US Residents

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I just received a packet in the mail yesterday from Migros bank informing me that they are changing their policy towards US customers.

In the packet, they mention they do have an offer for customers who are domiciled within the US.

Frankly, I haven't had the time to look over everything (and I'm sure I won't understand it 100% without some time) but it would be worth it for you to go and talk to them.
Thank you kindly for the heads-up. I'll give them a hollah.
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Old 25.04.2012, 16:27
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Re: Swiss Banks that allow accounts for US Residents

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I just received a packet in the mail yesterday from Migros bank informing me that they are changing their policy towards US customers.

In the packet, they mention they do have an offer for customers who are domiciled within the US.

Frankly, I haven't had the time to look over everything (and I'm sure I won't understand it 100% without some time) but it would be worth it for you to go and talk to them.
I got the same packet from Migros Bank and just read the section on customers who are living in the U.S. If I am translating this correctly, I don't think it's possible with Migros. It says, 'keine strukturierten Produkte, nur grundpfandgedeckte Kredite'. To me, this means no accounts, except loan accounts. But I may be wrong.
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Old 25.04.2012, 16:29
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Re: Swiss Banks that allow accounts for US Residents

Could you open the account with someone who is living here, with both of your names on it?
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Old 26.04.2012, 02:11
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Re: Swiss Banks that allow accounts for US Residents

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Does anyone know of a bank in CH that allows a US Resident to hold a basic account (not an investment account). I need a place to make small deposits for paying bills after I leave.

The Kantonalbank informed me today that they'll be closing my account after I leave CH. I've looked around at other banks, including Post, UBS and CreditSuisse, but I'm finding the same answer.
I better recheck about the Post account I just opened. The woman at the counter thought not an issue. I did get a letter to sign confirming that I would abide my US reporting rules or something to that effect.
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Old 26.04.2012, 08:28
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Re: Swiss Banks that allow accounts for US Residents

I recently asked my Credit Suisse personal account rep what would happen if I moved back to the US, and he said I could keep my account open......for 62CHF per month! I wanted to tell to 'stick it', but didn't. I also have had the account open for two years, so this probably makes a difference also. For all you folks who think CH is has so many benefits, living in the fifth most expensive country in the world negates all those 'perceived benefits'....sorry to burst your bubble.
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Old 22.08.2012, 13:01
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Re: Swiss Banks that allow accounts for US Residents

FYI, yesterday I tried opening a bank account in USD at Postfinance and when I told them I was going to move to the 'States the consultant just replied: "no way".
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Old 04.06.2013, 18:00
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Re: Swiss Banks that allow accounts for US Residents

Re- Bumping.

If a new Swiss Resident is a US citizen, where can they still open an account?

Julius Bar is in the news now, CS and UBS have been...

Have any of you new people from the US been able to open an account, say.. this year?
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Old 04.06.2013, 19:14
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Re: Swiss Banks that allow accounts for US Residents

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Re- Bumping.

If a new Swiss Resident is a US citizen, where can they still open an account?

Julius Bar is in the news now, CS and UBS have been...

Have any of you new people from the US been able to open an account, say.. this year?
Hello,

I'm moving to CH in a couple of months and when I talked to my company HR, they said the company will open a bank account for me and if I wish to open a different one, that's up to me but it didn't sound there would be a problem as long as you live in CH.

If you can't keep your bank account in CH after you leave but need to pay bills, can you try with US bank account? If you open a Citi Gold (min deposit required.. I forgot.. maybe $5000 per month?), you can make international transfer for free. Maybe other banks offer something similar if you have a premium account.
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Old 04.06.2013, 19:46
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Re: Swiss Banks that allow accounts for US Residents

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Re- Bumping.

If a new Swiss Resident is a US citizen, where can they still open an account?

Julius Bar is in the news now, CS and UBS have been...

Have any of you new people from the US been able to open an account, say.. this year?
We opened one this year at CS AFTER receiving our B-permit. We couldn't prior. A lot of paperwork (IRS driven) but CS was easy to work with and very professional.
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Old 04.06.2013, 19:50
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Re: Swiss Banks that allow accounts for US Residents

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Have any of you new people from the US been able to open an account, say.. this year?
Postfinance, basic account with e-banking, opened about 6 months ago. No trouble.
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Old 04.06.2013, 20:24
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Re: Swiss Banks that allow accounts for US Residents

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Postfinance, basic account with e-banking, opened about 6 months ago. No trouble.
They're just in the process of sending out the now standard "If you're a US citizen, sign the W-9 or we can't do business with you anymore." letter. Someone over at IBS has just received theirs; it has to be sent back by the end of June.

Is Credit Suisse doing the same?
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Old 04.06.2013, 20:26
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Re: Swiss Banks that allow accounts for US Residents

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They're just in the process of sending out the now standard "If you're a US citizen, sign the W-9 or we can't do business with you anymore." letter. Someone over at IBS has just received theirs; it has to be sent back by the end of June.

Is Credit Suisse doing the same?
Haven't received one yet.
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Old 04.06.2013, 21:31
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Re: Swiss Banks that allow accounts for US Residents

Yeah, it could take a while. I know UBS started sending theirs out in late 2011 or early 2012, but I only got mine in March this year. Came just a few days after I'd renounced.
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Old 05.06.2013, 01:24
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Re: Swiss Banks that allow accounts for US Residents

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I recently asked my Credit Suisse personal account rep what would happen if I moved back to the US, and he said I could keep my account open......for 62CHF per month! I wanted to tell to 'stick it', but didn't. I also have had the account open for two years, so this probably makes a difference also. For all you folks who think CH is has so many benefits, living in the fifth most expensive country in the world negates all those 'perceived benefits'....sorry to burst your bubble.
If Switzerland is the 5th most expensive, what are the first four?! Off to Google it now. Scary.
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Old 05.06.2013, 08:53
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Re: Swiss Banks that allow accounts for US Residents

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Yeah, it could take a while. I know UBS started sending theirs out in late 2011 or early 2012, but I only got mine in March this year. Came just a few days after I'd renounced.
For those interested, here's the "Geneva Lunch" article from Nov 2012 on UBS sending the IRS W-9 form and the infamous form where US Persons "agree to renounce protection under Swiss data protection laws “to the extent necessary for reporting …”."

http://genevalunch.com/2012/11/23/ub...ta-protection/

It was one year ago that "Geneva Lunch" published the article "Swiss banks step up efforts to identify, quarantine or avoid US citizens" describing a US citizen's banking difficulties in Switzerland. This was an eye-opener for many of us who learned for the first time of the tax war launched by the Obama administration against America's 6-7 million overseas citizens:

http://genevalunch.com/2012/06/21/sw...d-us-citizens/
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Old 05.06.2013, 09:34
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Re: Swiss Banks that allow accounts for US Residents

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For those interested, here's the "Geneva Lunch" article from Nov 2012 on UBS sending the IRS W-9 form and the infamous form where US Persons "agree to renounce protection under Swiss data protection laws “to the extent necessary for reporting …”."

It was one year ago that "Geneva Lunch" published the article "Swiss banks step up efforts to identify, quarantine or avoid US citizens" describing a US citizen's banking difficulties in Switzerland. This was an eye-opener for many of us who learned for the first time of the tax war launched by the Obama administration against America's 6-7 million overseas citizens:
Wow, gotta love this kinda country, the pinnacle of freedom and opportunity, which wages war on its own 'US persons' ilk to pay for Guantanamo and waging other wars half a world away. And that's when the country is drowning in deficit, Bernanke is running out of ink on money printing and IRS targets tea partyers and the likes of you having smth to do with Switzerland. This makes the movie 'Idiocracy' pale into insignificance.

In your shoes, guys, i would try my absolute best to shake off this 'freedom', get rid of your citizenship, get another one and then go to the bank. Don't tell me it's difficult - i have three myself, two of them acquired thru naturalization. Otherwise, good luck coz you'll need it, esp. outside your sweet home country.
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Old 05.06.2013, 10:27
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Re: Swiss Banks that allow accounts for US Residents

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Wow, gotta love this kinda country, the pinnacle of freedom and opportunity, which wages war on its own 'US persons' ilk to pay for Guantanamo and waging other wars half a world away. And that's when the country is drowning in deficit, Bernanke is running out of ink on money printing and IRS targets tea partyers and the likes of you having smth to do with Switzerland. This makes the movie 'Idiocracy' pale into insignificance.

In your shoes, guys, i would try my absolute best to shake off this 'freedom', get rid of your citizenship, get another one and then go to the bank. Don't tell me it's difficult - i have three myself, two of them acquired thru naturalization. Otherwise, good luck coz you'll need it, esp. outside your sweet home country.
Many of us have Groovy. But I'd keep an eye on your own countries in case they follow suit. A lot of countries are looking to, or already have, tax exchange of bank information agreements with Switzerland. If the penalties for client non-compliance end up being similar to the US (30% withholding tax on American transactions) then the banks may well be sending out letters to other foreigners. Unlikely I hope, but at the moment complacency regarding your financial situation could be asking for trouble.
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Old 05.06.2013, 16:15
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Re: Swiss Banks that allow accounts for US Residents

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Many of us have Groovy. But I'd keep an eye on your own countries in case they follow suit. A lot of countries are looking to, or already have, tax exchange of bank information agreements with Switzerland. If the penalties for client non-compliance end up being similar to the US (30% withholding tax on American transactions) then the banks may well be sending out letters to other foreigners. Unlikely I hope, but at the moment complacency regarding your financial situation could be asking for trouble.
And that's exactly the reason of my frustration, Medea! God forbids other countries adopt the 'Patriot' act forcing their citizens to file tax returns and top up the tax in some circumstances irrespective of one's residence. Am sure other countries are looking at FATCA with green eyes full of envy. No surprise that those who immigrate to the States these days are primarily low income semi-refugee style, whereas those who emigrate are middle class and above cutting the ties coz of government's shameless and intrusive checking on everything you do, down to what you searched today on google from your IP address, Mr Anderson.
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