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Old 30.07.2008, 17:24
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Opening a bank account for non-resident

Hello,
I'm a non-resident and I live in EU. I do not work nor live in Switzerland and I'd like to open a bank account there. I spent 2 days reading this forum and found recommendations for these banks: UBS, Raiffeisen and Postfinance.
I've called to each of them and got these replies:

Raiffeisen - they do not open account for non-residents

Postfinance - they do open accounts for non-residents but just from countries directly neighbouring with Switzerland (my country doesn't)

UBS - they do open accounts for non-residents, but you need to deposit at least 50.000 Euros in the first 12 months


My question is - do you know any bank that has lower minimum deposit for non-resident accounts?

Thanks
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Old 31.07.2008, 21:06
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Re: Opening a bank account for non-resident

hi, i work for credit suisse.. you can open an account anytime at credit suisse..u dont need a minimum deposit as a non-resident. if you live in switzerland you have less account fees to pay. if you live outside of switzerland you'll have to pay an account fee of approx. 140sfr. per year to hold your account up to assets of 50'000swiss francs. if you deposit more than 50k you wont be charged with any fees. so thats the info that i can give you at the moment.


My question is - do you know any bank that has lower minimum deposit for non-resident accounts?

Thanks[/quote]
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Old 31.07.2008, 22:20
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Re: Opening a bank account for non-resident

I opened a salary account at CS a few weeks ago and was told the minimum was 15,000 CHF to avoid fees. (I am a US citizen with a B permit).
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Old 31.07.2008, 22:29
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Re: Opening a bank account for non-resident

it sucks to hi haven: I can`t open a account for my pension (AHV) grrrrrrrrrrrrrrrrrrrrrrrrrrrrr
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Old 01.08.2008, 17:12
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Re: Opening a bank account for non-resident

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hi, i work for credit suisse.. you can open an account anytime at credit suisse..u dont need a minimum deposit as a non-resident. if you live in switzerland you have less account fees to pay. if you live outside of switzerland you'll have to pay an account fee of approx. 140sfr. per year to hold your account up to assets of 50'000swiss francs. if you deposit more than 50k you wont be charged with any fees. so thats the info that i can give you at the moment.
Hi Natasha, thanks for your reply. Today is holiday in CH, so I'll call them tomorrow or on monday.
Does the account supports also investment services?? Like investing money into a stock fund..
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Old 04.08.2008, 13:22
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Re: Opening a bank account for non-resident

I've called today to CS and got connected to a private banking department and they told me, that minimal amount for opening a bank account is 1.000.000 EUR.

So do you have any other suggestions where could I open a non resident account? Thanks...
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Old 05.08.2008, 10:59
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Re: Opening a bank account for non-resident

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Does the account supports also investment services?? Like investing money into a stock fund..
Hi, I'm also non-resident, but EU (dansih) citizen and would like to open an account to secure my capital against divorce etc. So it sounds like Thomasss and I want the same. I also want to invest this money in stocks. But will I need a numbered account, to avoid my name being registered in Denmark? (when I buy stocks on the danish stock exchange, they are registered in my name - and suddenly it's not so secret.)
I plan on investing 50,000 - 90,000 eur initially.
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Old 05.08.2008, 18:39
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Re: Opening a bank account for non-resident

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Hi, I'm also non-resident, but EU (dansih) citizen and would like to open an account to secure my capital against divorce etc. So it sounds like Thomasss and I want the same. I also want to invest this money in stocks. But will I need a numbered account, to avoid my name being registered in Denmark? (when I buy stocks on the danish stock exchange, they are registered in my name - and suddenly it's not so secret.)
I plan on investing 50,000 - 90,000 eur initially.
I don't want to sound rude, but to the banks that kind of money is peanuts and it would cost them more to administer your account than they would make on it. So I expect that you will find it very hard to find a bank interested in this.....

Good luck,

Jim.
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Old 06.08.2008, 07:46
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Re: Opening a bank account for non-resident

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I don't want to sound rude, but to the banks that kind of money is peanuts and it would cost them more to administer your account than they would make on it. So I expect that you will find it very hard to find a bank interested in this.....

Good luck,

Jim.
Thanks for replying, but I think you mean Private Banking, which I know that I don't have nearly enough money for. But what I want, is a personal account and the ability to trade stocks online. I'm not even interested in the asset management they offer people with e.g. 1,000,000+ eur. I want to handle it myself.
I know people who have opened accounts just to deposit earnings from online poker, in very smal sums compared to what I want to put.
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Old 07.08.2008, 10:14
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Re: Opening a bank account for non-resident

I think you will find that Swiss banks are becoming increasingly edgy about opening accounts from non-residents (unless it is REALLY worth their while) due to pressure from the EU (tax evasion). Numbered account, no name, etc. etc is just the right kind of terminology to have them running for cover....
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Old 08.08.2008, 10:44
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Re: Opening a bank account for non-resident

Hello! I am a Spanish citizen now moving to Switzerland for job reasons. I need to open a bank account as soon as i get to Luzern in order to be able to find an appartment and have my funds here.
Anyone could advise me a good bank for a resident (i have no clue what kind of permit my company is getting me and i cant ask, they are on holiday) EU citizen with little money for initial transfer (like 5-6 thousand euro)? I just want a savings account to pay my bills and such.


Also, any of those banks open saturdays? i arrive friday evening and i'd like to open the account sat morning. Hm now that i think about it i wont have my residence papers the weekend i arrive.

I am worried that i wont be able to get an appartment if i dont have a bank account!

Help!
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Old 08.08.2008, 11:35
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Re: Opening a bank account for non-resident

To open a bank account for non Swiss Resident, at least in the Zurich area, you can open an account for a minimum of 25,000 CHF but you will have to come down to Zurich to do that. Most of the private banks will not open an account for you unless you have a minimum of 250,000CHF.

My advise is to come over to Zurich and check out the banks. It is easier to do business with people face to face than over the telephone. Due to money laundering laws, the source of your money will need to be verifeid by the banks and how you intend to fund the account.
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Old 30.12.2008, 01:22
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Re: Opening a bank account for non-resident

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To open a bank account for non Swiss Resident, at least in the Zurich area, you can open an account for a minimum of 25,000 CHF but you will have to come down to Zurich to do that. Most of the private banks will not open an account for you unless you have a minimum of 250,000CHF.

My advise is to come over to Zurich and check out the banks. It is easier to do business with people face to face than over the telephone. Due to money laundering laws, the source of your money will need to be verifeid by the banks and how you intend to fund the account.
Thanks. I need to get up and running quickly. Does anyone know what UBS need to open an account for you? I'll probably give them a call tomorrow too, but I would like to check with somebody who has had experience as I'd hate to fly out there only to be caught out. Thanks.
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Old 01.01.2009, 20:46
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Re: Opening a bank account for non-resident

When I tried to open my bank account with UBS before moving to CH (same idea as others mentioned before: open a bank account to allow me to pay the deposit for my future apartment) they wanted a significant deposit (something > 25k CHF) & my passport. But I decided not to proceed and to wait for my permit. I think the procedures are similar with Credit Suisse, but the deposit is higher. When I finally did open my account they asked for my passport & work permit.

But better call them as such requirements can change with immediate effect.

I doubt they are really keen on "normal" investors from abroad (I mean those not investing several millions) because of all the tax and money laundring issues.

BTW, the banks are closed until Jan 5th (the 2nd Jan is a bank holiday in CH).
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Old 02.01.2009, 18:29
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Re: Opening a bank account for non-resident

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Postfinance - they do open accounts for non-residents but just from countries directly neighbouring with Switzerland (my country doesn't)
I opened an account with Postfinance while living in Romania, which even by a wide definition of "neighbouring" wouldn't qualify.
No minimum amount at all; no problems, everything went smoothly.
PF is not very "sexy" but nowadays that's a quality in a bank...
Obviously though numbered accounts are not among the options, but I don't think you'd find that anywhere in CH anymore.
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Old 07.01.2009, 12:29
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Re: Opening a bank account for non-resident

Saw this thread just after receiving the new conditions (2009) from CS.
It does repeat some of the replies on this thread, but the attachment shows an overview of current minimum assets, respective charges etc for residents and non-residents.
Attached Files
File Type: pdf kontosortiment0708_en.pdf (323.2 KB, 2143 views)
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Old 25.01.2009, 14:57
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Re: Opening a bank account for non-resident

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Hello,
I'm a non-resident and I live in EU. I do not work nor live in Switzerland and I'd like to open a bank account there. I spent 2 days reading this forum and found recommendations for these banks: UBS, Raiffeisen and Postfinance.
I've called to each of them and got these replies:

Raiffeisen - they do not open account for non-residents

Postfinance - they do open accounts for non-residents but just from countries directly neighbouring with Switzerland (my country doesn't)

UBS - they do open accounts for non-residents, but you need to deposit at least 50.000 Euros in the first 12 months


My question is - do you know any bank that has lower minimum deposit for non-resident accounts?

Thanks
what are the annual Postfinance charges?
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Old 25.01.2009, 14:59
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Re: Opening a bank account for non-resident

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what are the annual Postfinance charges?
You will find answers to all your Post Finance questions here.
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Old 25.01.2009, 20:04
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Re: Opening a bank account for non-resident

I hope I am not off-topic, but I have question the other way around. Can we as resident of CH, open a bank acount abroad, specifically for example in HSBC in UAE (Dubai)? Their website says it is for UAE residents, but I have heard it might be possible for at least Saving account (Interest rate is 5-6% there, a lot better than here).
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Old 27.01.2009, 12:58
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Re: Opening a bank account for non-resident

The choice has to be down to finding an individual you like and the organisation supporting them. CS isn't free, but the individuals I've dealt with get a thumbs up from me for service.
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