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Old 04.08.2015, 14:20
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Opening a bank account (as a tourist) what does it require?

I'm going to be in Switzerland for aprox half a year and would like to open a bank account while I'm there, I have Australian and French citizenship, is it possible to open one as a non resident? And if not and I can provide a statement from someone saying I'm residing by them with some sort of proof what else is required?

I did try to look at previous threads to find my answer but no luck, I did however find something about .. when I leave if it is possible to leave the account open, the post was quite old so if anyone has any new information I would greatly appreciate it!

Someone had mentioned that Basler Kantonal Bank allows you to keep an open bank account after you leave but others mentioning with UBS the monthly fee was ridiculous unless you have 50000chf in your account, thanks for any info.
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Old 04.08.2015, 14:25
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Re: Opening a bank account (as a tourist) what does it require?

A very old thread that I started: Postfinance account for non-resident (tourist). Things may have changed, but may be a useful starting point.
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Old 04.08.2015, 14:42
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Re: Opening a bank account (as a tourist) what does it require?

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I'm going to be in Switzerland for aprox half a year and would like to open a bank account while I'm there, I have Australian and French citizenship, is it possible to open one as a non resident? And if not and I can provide a statement from someone saying I'm residing by them with some sort of proof what else is required?

I did try to look at previous threads to find my answer but no luck, I did however find something about .. when I leave if it is possible to leave the account open, the post was quite old so if anyone has any new information I would greatly appreciate it!

Someone had mentioned that Basler Kantonal Bank allows you to keep an open bank account after you leave but others mentioning with UBS the monthly fee was ridiculous unless you have 50000chf in your account, thanks for any info.
I suspect you will need to hold a balance in excess of 50k probably in excess of 1 million. PostFinance may require less especially if you live in France, Germany or Italy.
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Old 04.08.2015, 14:43
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Re: Opening a bank account (as a tourist) what does it require?

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I'm going to be in Switzerland for aprox half a year and would like to open a bank account while I'm there, I have Australian and French citizenship, is it possible to open one as a non resident?
Good news - if you're here for half a year, you're a resident and need to register for a permit anyway. No issue with a bank account then.
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Old 04.08.2015, 17:11
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Re: Opening a bank account (as a tourist) what does it require?

How do you come to be here for half a year? As an Aussie tourist you can only be here for 3 months at a time, i.e. 90 days in then 90 days out before you can return again. Did you enter with a French passport? I hope so, because otherwise it may be very difficult to get permission to stay here beyond 3 months. Basically you need a pre-approved job offer or to be independently wealthy with no need to work.
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Old 04.08.2015, 18:55
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Re: Opening a bank account (as a tourist) what does it require?

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I suspect you will need to hold a balance in excess of 50k probably in excess of 1 million. . . .
Such sums would make the holder also eligible for other attractive benefits, such as a negative interest rate.
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Old 04.08.2015, 19:45
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Re: Opening a bank account (as a tourist) what does it require?

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Such sums would make the holder also eligible for other attractive benefits, such as a negative interest rate.
The amount does not need to be in cash, equities would be perfectly normal, it's a total relationship balance that counts.
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Old 04.08.2015, 20:15
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Re: Opening a bank account (as a tourist) what does it require?

Try it. I am always being surprised by people who don^t have any connection to Switzerland but have a bank Acc. here The dud€s in the banks will only say yes or no.Very discrete. They won`t call in the crime squad.
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Old 04.08.2015, 20:22
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Re: Opening a bank account (as a tourist) what does it require?

An absolute shed load of cash !

Bankers have to due due diligence now on provenance of funds (or equities, or anything else) which can cost upwards of Chf 10-20k, so unless you got serious money, as a non resident forget it.

Thank your respective governments for closing the loop hole, nothing to do with the Swiss this time !h
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Old 04.08.2015, 20:49
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Re: Opening a bank account (as a tourist) what does it require?

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An absolute shed load of cash !

Bankers have to due due diligence now on provenance of funds (or equities, or anything else) which can cost upwards of Chf 10-20k, so unless you got serious money, as a non resident forget it.

Thank your respective governments for closing the loop hole, nothing to do with the Swiss this time !h
Generally they don't seem to want more than a passport no, same for US institutions so I am surprised about the cost of due diligence at 10-20k.
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Old 04.08.2015, 20:51
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Re: Opening a bank account (as a tourist) what does it require?

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How do you come to be here for half a year? As an Aussie tourist you can only be here for 3 months at a time, i.e. 90 days in then 90 days out before you can return again. Did you enter with a French passport? I hope so, because otherwise it may be very difficult to get permission to stay here beyond 3 months. Basically you need a pre-approved job offer or to be independently wealthy with no need to work.
I don't think she's actually arrived yet.
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Old 04.08.2015, 21:30
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Re: Opening a bank account (as a tourist) what does it require?

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An absolute shed load of cash !

Bankers have to due due diligence now on provenance of funds (or equities, or anything else) which can cost upwards of Chf 10-20k, so unless you got serious money, as a non resident forget it.

Thank your respective governments for closing the loop hole, nothing to do with the Swiss this time !h
how come due diligence costs so much?
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Old 04.08.2015, 23:08
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Re: Opening a bank account (as a tourist) what does it require?

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how come due diligence costs so much?
Because hiding money is not so difficult and crooks are relatively devious so to check fully costs a lot of money.

Try opening a company with a foreign shareholder and see the reaction, very little interest unless you can prove the turnover will be in excess of Chf 10mio.....

(There are other ways around the problem though )
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Old 05.08.2015, 07:54
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Re: Opening a bank account (as a tourist) what does it require?

Its called "Know Your Client" (KYC) - not related to KFC - within the bigger institutions.

The RM will need to know both the client: where are they from? their history? their business interests? their reasons for opening an account? why Switzerland? who are they known by? who do they know? who recommended the bank? etc etc

And also where the money came from: asset sale? company sale? gambling? sale of narcotics? inheritence? etc etc

I am sure that smaller (boutique) banks will take on clients with less stringent tests but I am not sure they are what the OP is looking for.

Many wealthy people of the generation above mine will have Swiss accounts - and for UK residents, many of them were declared a few years ago in the amnesty. For the vast majority of non-Swiss resident Swiss accounts there is nothing suspicious about having a Swiss account.
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Old 05.08.2015, 18:53
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Re: Opening a bank account (as a tourist) what does it require?

Thanks guys for the reply, so yeah I'll probably only be there for 4 months and won't be a resident and yes I'll be entering on my french passport (EU) so no problems. I definitely don't have 50000 chf, just wanted to make life simple and use a local bank account but seems like it's much more difficult.

In France where I was a resident all I had to do was show proof of residency but I had a whole bunch of other issues when the teller signed me up for house insurance that I never asked for.
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Old 05.08.2015, 19:05
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Re: Opening a bank account (as a tourist) what does it require?

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Thanks guys for the reply, so yeah I'll probably only be there for 4 months and won't be a resident and yes I'll be entering on my french passport (EU) so no problems. I definitely don't have 50000 chf, just wanted to make life simple and use a local bank account but seems like it's much more difficult.

In France where I was a resident all I had to do was show proof of residency but I had a whole bunch of other issues when the teller signed me up for house insurance that I never asked for.
Your not resident in CH, it's never very easy to open an account in a country you don't live in, unless there is a good reason such as owning a property or working there.
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Old 05.08.2015, 19:30
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Re: Opening a bank account (as a tourist) what does it require?

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Thanks guys for the reply, so yeah I'll probably only be there for 4 months and won't be a resident and yes I'll be entering on my french passport (EU) so no problems. I definitely don't have 50000 chf, just wanted to make life simple and use a local bank account but seems like it's much more difficult.

In France where I was a resident all I had to do was show proof of residency but I had a whole bunch of other issues when the teller signed me up for house insurance that I never asked for.
You won't be here for 4 months because you're not allowed to be here that long. The maximum time for a tourist, with or without the need for a visa, is 90 days. This applies to EU nationals as well. If you want to be here longer than that then you must register as being resident here.
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Old 06.08.2015, 10:12
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Re: Opening a bank account (as a tourist) what does it require?

It's okay Ill be in and out of the country
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Old 06.08.2015, 10:14
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Re: Opening a bank account (as a tourist) what does it require?

Well, then just make sure you´re 90 days in and then 90 days out
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Old 06.08.2015, 11:13
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Re: Opening a bank account (as a tourist) what does it require?

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Well, then just make sure you´re 90 days in and then 90 days out

That's Schengen, not just Switzerland
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