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Old 30.11.2015, 00:54
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Opening a Swiss bank account - anything I should pay attention to?

I just arrived in Switszerland and need to open a bank account as soon as my work permit has been granted (should be any day now )

What I need is a simple bank account where my employer can debit my salary and my landlord can credit my rent from. As interest rates on savings accounts in CH are around 0,0% anyway, I don't think I need a separate savings account.

My question: I am looking for a bank without any hidden costs when holding the account. Are there any (big) differences between banks regarding costs?
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Old 30.11.2015, 01:12
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Re: Opening a Swiss bank account - anything I should pay attention to?

They probably will charge you for the 'free' debit card.
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Old 30.11.2015, 04:37
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Re: Opening a Swiss bank account - anything I should pay attention to?

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What I need is a simple bank account where my employer can debit my salary and my landlord can credit my rent from. As interest rates on savings accounts in CH are around 0,0% anyway, I don't think I need a separate savings account.
Maybe credit your salary and debit your rent?

In the end it depends what services you need on top of a current bank account. IMO there is not much difference, but check the forum as this was discussed often. Some people prefer PostFinance as it seems to be the cheaper solution
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Old 30.11.2015, 08:03
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Re: Opening a Swiss bank account - anything I should pay attention to?

usually everything is very well written, and you can read the contract, nothing is hidden.
postfinance is free for example once you have 7.5k in total for private account or 25k for private account plus, you get a postfinance card to withdraw money at ATMs for free and pay in switzerland, additional savings account with more interest rate are also free. + 50 chf/year for the credit card.
I think other banks will have similar offers. I suggest going through the websites of banks that are close to you.
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Old 30.11.2015, 12:56
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Re: Opening a Swiss bank account - anything I should pay attention to?

Some banks charge a fee for any transaction done at an ATM that is not their own. Therefore, if you want to save that kind of fee, it is worth seeing which banks are physically near your home or workplace. But that's hard to know while you're still trying to find a home, for example.
Migros (the big supermarket chain) has its own bank. And they Charge such an additional fee for using a non-Migros ATM. However, you can also draw cash with no charge at every Migros shop, at the till or at the customer services desk! And that means a huge network throughout Switzerland.
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