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Old 20.12.2010, 17:08
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Opening a bank account in Basel

Hi guys,

I'm moving from Germany to Basel to work. I wonder which bank and what kind of account I should apply, particularly considering I will come back to Germany for shopping all the time. Since I will be paid in swiss franks, how can I shop with euros? I'd rather not keep a German bank account, based on the previous experiences.

Also what's the best way to transfer my euros from Germany to Switzerland?

Thanks!
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Old 20.12.2010, 17:11
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Re: Opening a bank account in Basel

There are many such threads in the same subforum :

http://www.englishforum.ch/finance-banking-taxation/

Postfinance offers cards in CHF and Euro and appears decent for a transaction account. Their E-finance is pretty neat too.

Welcome to the forum.
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Old 20.12.2010, 17:18
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Re: Opening a bank account in Basel

Hi,

you can do the following:

- keep your German bank account and associated bank card (Maestro card, I presume)

- Open two accounts in Basel:
1) one account in CHF, to which you will receive the salary. You will have also associated Maestro card
2) one account in EUR, which should be in SEPA. If it's in SEPA, then transfers from/to your German account will be free or extremely cheap.


Then you use the following rule:
- pay with Swiss bank card card (or in cash) when in Switzerland
- pay with German bank card (or in EUR cash) when in Germany (EU).


Converting from CHF to EUR account online (in the same bank) is giving you good exchange rate. Much better than taking EUR banknotes out of ATM, or paying with your CHF bankcard in EU. So you should periodically move money from CHF account to EUR account (bank exchange rate applied); and then transfer it to Germany (this is free, or .3 CHF per transaction at UBS).

Cheers!
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Old 21.12.2010, 16:54
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Re: Opening a bank account in Basel

Thank you both for very useful information.
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Old 21.12.2010, 16:59
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Re: Opening a bank account in Basel

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Thank you both for very useful information.
You should also check with your future employer - sometimes they have low cost arrangements with certain banks.
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Old 22.12.2010, 18:00
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Re: Opening a bank account in Basel

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Hi guys,

I'm moving from Germany to Basel to work. I wonder which bank and what kind of account I should apply, particularly considering I will come back to Germany for shopping all the time. Since I will be paid in swiss franks, how can I shop with euros? I'd rather not keep a German bank account, based on the previous experiences.

Also what's the best way to transfer my euros from Germany to Switzerland?

Thanks!
Shopping in Germany becomes more and more interesting because of a cheap euro. What Swiss customs say, if one bring week groceries foe the family over the border? What about shoos?
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