So, im a student who has just arrived in switzerland (since thursday, 27th july) and I will be working for DOW chemials in Horgen. The problem I have is that I cant find a Swiss bank that accepts a minium deposit of under CHF 10,000. Im only a student so you know I dont have that amount of money.
Does anyone on this board know, or have a bank account which doesnt require a minium deposit, or has a low minuim deposit, say CHF 600. Thanks.

Hey,

I landed the same day . I opened a UBS bank account. I got an account wherein If I opt for online statements, and your balance is less than 10k, then theres only a charge of 2 francs a month which is fair enuf i guess.

Hi Tino,

I think that once you have a permit/ausweis, then you can open an account. The minimum 10k limit applies to non-residents as far as I know.

=DM=

oh my bad.... sorry tino and thx dm

try ZKB....they are pretty friendly (just dont go to the big one on bahnhoff strasse in Zürich..go to a smaller one...they probably also have students rates or special accounts.

You can open an account with a passport and a work contract, if you are for the EU, coz rules are different. If you're from Oz or the USA etc then you'll already have your permit.

My personal tip here (based on experience of her indoors and I) is to go to Glattburgg UBS or Uetlihof Credit Suisse for an account - they're used to foreigners wandering in asking for bank accounts . Another UBS branch would not give me an account without my permit (which took 3 weeks +), but Glattbrugg did.

And with UBS and CS you can have all your paperwork in English, if it suits you. It is straight forward.

That's my 2 pennies worth.

do you have a letter that says you will be employed? If so, make an appointment with UBS. With me this worked, I did not have a permit yet.

My suggestion:

Try the Swiss Post Finance.

Plus, if I am correct, anyone can open an account. CHF 100.- and a passport is all you need. Of course, this would be a very limited account and there are costs involved.

Personally, I use the Post Finance and Yellownet for (almost) all my banking. Am very satisfied with the flow of information and the response times involved.

Bests
Scott

My other half tried that as well, but you can't get a postcard (= EC/Maestro/Switch) with an "L" permit, or so they said in a letter when we queried this. UBS will give you one though...

I could not even open a Post account without a permit. They sniffed at that!
But once you have one, it is a good second account to have.

ok cool. Thanks for giving a little help!

I went to ZKB, asked for an account, bare in mind that I dont even work yet.
The same day I wanted to register with the Gemeinde and she told me to pass by them so that they could just write that I was going to be registered... so they did. With a piece of paper from the Gemeinde and my passport, I've opened a bank account in 20 minutes.

No deposit required.

whats the Gemeinde?

Town hall.

Tino, the Gemeinde is the little area in which you live. Do you have a home address? When does your placement at DOW begin?

I too use post finance (the post office).

Not too keen on UBS as they charge you a lot of money if you have less than 10K (to Swiss and non-Swiss alike).

Post finance is free

Postfinance costs 2 chf per month if using internet only, otherwise it costs 6 chf per month. UBS costs 2 if internet, so that is the same.

Limit above which you do not pay this, 7500 for postf, 10000 for UBS.

UBs charges for transfers if you have less than 10k, post does not. Charge is 30ct.

Er dunno about that, but I got a simple UBS account with Maestro (ItTook 3.2 minutes to get ) and I have a Buisness account with all the bells and whistles with Zurcher Kantonalbank ( A few weeks to get ) and didnt put anything like those fiqures down ( maybe 100 in each ) or had any hassle at all. I got the B permit and a whitey white smile.

Theres an Arab Bank in Zurich, Im sure they would be happy to have your money and supply you with good banking if the Swiss Banks dont want your custom.

I plan to arrive in CH from US end of this month. Looks like opening a bank account in CH is by no means easy..... can't I just walk in and say "I'd like an account" and have a free checking account with a visa/MC debit card that can double for purchases online?

Also what is maestro? And do I get all the money I want as cash? Where should I do the money exchange...I emember being ripped off at the airport and bahnhoff when I was there the last time.

Please let me know ASAP. I do not plan to get too much cash (since I dont have too much!!)

Also, someone here mentioned that if you have a contract for a good salary opening an account might be smooth.... what is 'good'?

Please let me know!

A contract of employment will get you a bank account. A maestro is one rung down the evolutionary level from a debit card, in other words you can't use it online. Banks like Corner Bank will give you a Visa Debit card for 50 CHF a year.

The Maestro still means you can use it online with some places, like some hotels in Europe etc etc, you're just restricted from sites like Amazon. You can still pay your bills, standing orders and so on are fine. Online banking still works as usual


They are quite happy to give you a bank account, whether it's UBS, Credit Suisse or the post office, they just don't like giving you
a credit card with an L permit, although I have heard of people getting them.

Hope this eases the anxiety. Not to worry, they want your money.