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Old 23.11.2012, 10:27
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Opening a swiss account

Hi,
I want to open a sole account in Basel. I have a B permit and want to pay a salary in. Does anyone have suggestions for good banks. Do all banks require you to have a min balance?
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Old 23.11.2012, 10:36
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Re: Opening a swiss account

Choose a bank that you can walk into and get an account. If you want free, look at banks like Postfinance, Migros, Coop.
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Old 23.11.2012, 10:39
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Re: Opening a swiss account

They don't require you to have a minimum balance but most will charge maintenance fees if you're below a certain threshold. For the beginning, UBS seems the best and only free option as they offer an introductory free package for one year after which you either cancel unneeded services or close the account altogether if you don't want to pay. Or start paying a small fee and keep all the services.

After the first year, USB requires 10K balance to waive the maintenance fees. You'll still have to pay for Credit/Debit cards which are, as part of the package, free for the first year.

PostFinance imposes the maintenance fees if you're below 7.5K from the day one.

These are the two banks I know and, as I mentioned, to minimize expenses, at the beginning you'd normally go with UBS for the first year and then move to PostFinance, either partially or completely.
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Old 23.11.2012, 10:53
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Re: Opening a swiss account

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After the first year, USB requires 10K balance to waive the maintenance fees. You'll still have to pay for Credit/Debit cards which are, as part of the package, free for the first year.
The 10K balance is required at the end of the month. I found that, after a while, as I was paid towards the end of the month, I could just scrape through to the start of the next month and then plunder the account without attracting a fee.
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Old 23.11.2012, 11:15
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Re: Opening a swiss account

UBS had a special offer last year but I'm not 100% sure they still have it as I couldn't quickly find it online. Sorry if I was recommending the package which doesn't exist anymore but with that package. The package was called "Basic Offering Pay and Save" and it was certainly free for the first year. Now, however, it looks like you have to pay for it from the very beginning: "The Pay and Save Basic Offering at an attractive all-in fee" (http://www.ubs.com/ch/en/swissbank/p...l.html#title_2).
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