Hi,

I'm new to all this so apologise if there is a thread about this already.

I just need to know simply which is the best bank to open a new account with?

Need a standard current account with facilities for direct debits and standing orders and preferably good rates for transferring money back to the UK.

Thanks guys!

there are alot of Banks here...why dont you try PostFinance.

here is there website for more information https://www.postfinance.ch/

UBS is good too. Website and paperwork can be in English if specified when you open the account. Flat fee of CHF5 to send money via standing order to UK or another account in Switzerland. There may also be a charge from your UK bank for receiving and converting into UK pounds.

You can have both of course. We use the UBS as our main account for receiving salary, paying bills, etc, and the PO one is our savings/emergency stash. I have a standing order to transfer money from UBS to PO every month.

Thanks, this is very useful!

I hadn't thought about having more than one account because i like to keep things simple, but then again it kind of makes sense too.

I'll take a look at the sites and see what's best for the international transfers.

Well I just did it so we wouldn't run through all our money every month. But it's easy to set up, works quite well and means we have cash for deposits when we get a new car, any emergency vet or other bills and there will be future house repairs/renovations now too since we've bought a property here.

I just hope none of your family has US citizenship otherwise opening a bank account here is becoming nearly impossible.

Not if you are a citizen of the USA!!! You'll be treated as a second-class customer and you'll be assigned a "specially trained" advisor, rather than being able to pick someone you feel comfortable working with.

I am in the (long) process of trying to "divorce" from UBS (not easy because of my mortgages, etc.) for this reason.

I would suggest looking to one of the more customer-friendly retail banks (e.g. Migros Bank or Bank Coop) or simply dealing with the Post Office (Postfinanz).

I think they're all becoming the same JamesAG. PostFinance was quite happy to have US, but I saw something this morning that said they'd changed their minds and would be following the other banks in Switzerland. However, a new accord has just been signed by US and Switzerland which may, or may not, ease the pressure on this side of things. We'll just have to wait and see.

Thanks for the advice guys!

I'll check out the cantonal banks when i'm there. Although i feel 'safer' with the larger banks for some reason.

Another quick question. Can you use all ATM's/cashpoints to withdraw cash without any fees?

I've heard Postbank charge you to withdraw cash from other ATM's.

Also, are the cards normal VISA cards or a Swiss specific provider?

I have a 'poor' credit history in the UK. Will this effect me in CH?

Yes, you will get charged if you withdraw from ATM's that are not your bank's/PO's. UBS charge CHF3 for withdrawals.

Not sure what you mean by Swiss specific VISA cards? It will be issued by a Swiss bank like UBS, but you can use it worldwide the same as the UK ones. There will be the usual charges for purchases bought outside Switzerland and for converting into Swiss Francs, but that's the same anywhere.

I'm not sure about your rating. The Swiss are only now getting into using credit cards more; usually they pay cash or via a debit card. When we first came over 14 years ago very few places accepted credit cards and if they did it was usually their own brand credit card only and some still do that. Now more places are taking credit cards in general, but it is still much rarer than in the UK.