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Old 10.04.2017, 20:16
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Non resident bank account

I have tried to open a bank account with UBS, CS and the Cantonal Bank in GE, but to no avail (despite being told 2x by bank staffers that BCGE that it is possible).

Any advice on how and where this can be done? I will move to GE permanently in July/Aug, but already working remotely for a Swiss based organisation.
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Old 10.04.2017, 20:41
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Re: Non resident bank account

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I have tried to open a bank account with UBS, CS and the Cantonal Bank in GE, but to no avail (despite being told 2x by bank staffers that BCGE that it is possible).

Any advice on how and where this can be done? I will move to GE permanently in July/Aug, but already working remotely for a Swiss based organisation.
What was the reason they gave you?? No address in Switzerland, no permit?
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Old 10.04.2017, 20:47
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Re: Non resident bank account

'Not resident yet'.
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Old 10.04.2017, 20:52
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Re: Non resident bank account

Why? Wait until you move here and then open an account. I think non-resident accounts are now only allowed for people living in countries neighbouring Switzerland usually so the UK wouldn't qualify. And you'd probably have to have been resident here first to open the account and then asked to keep it on when you move to France, Germany, Austria, Italy or Lichtenstein.

Since FATCA and now the European equivalent, keeping a bank account when you're no longer resident is getting more difficult.
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Old 10.04.2017, 20:55
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Re: Non resident bank account

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Why? Wait until you move here and then open an account. I think non-resident accounts are now only allowed for people living in countries neighbouring Switzerland usually so the UK wouldn't qualify. And you'd probably have to have been resident here first to open the account and then asked to keep it on when you move to France, Germany, Austria, Italy or Lichtenstein.

Since FATCA and now the European equivalent, keeping a bank account when you're no longer resident is getting more difficult.
Not true at all. You just need an appropriate amount of money and be prepared to pay the fees.
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Old 10.04.2017, 20:58
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Re: Non resident bank account

Why? Earning money in CH already, and since I am planning to move there in a few months, the idea of getting paid into a UK account, and then transferring said funds back to CH when I move seems silly. Also, I thought I could use the CH earnings on CH expenses I'll incur before moving, such as rental deposit, etc.
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Old 10.04.2017, 21:01
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Re: Non resident bank account

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Why? Earning money in CH already, and since I am planning to move there in a few months, the idea of getting paid into a UK account, and then transferring said funds back to CH when I move seems silly. Also, I thought I could use the CH earnings on CH expenses I'll incur before moving, such as rental deposit, etc.
I tried opening a bank account in the UK, no luck either without being resident.

Open a CHF bank account with your current bank and have your salary paid there. Then you have CHF when you arrive here. Easy nowadays.

And if you are not paid in CHF, multiple threads here on how to convert your GBP into CHF best with the least costs
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Old 10.04.2017, 21:22
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Re: Non resident bank account

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Not true at all. You just need an appropriate amount of money and be prepared to pay the fees.
Well, UBS says quite clearly in its Help section.

"How can I open an account or custody account?

If you are not yet a UBS client and wish to open an account or custody account, please visit one of our UBS branches and bring the following documents with you:

Valid passport or ID card
Proof of residence for clients who have recently moved to Switzerland from abroad
Residence permit for foreign clients domiciled in Switzerland"

So can't be done without being a resident here with them. Not possible to do it online either.

PostFinance might be an option and cheaper than Credit Suisse.

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I tried opening a bank account in the UK, no luck either without being resident.

Open a CHF bank account with your current bank and have your salary paid there. Then you have CHF when you arrive here. Easy nowadays.

And if you are not paid in CHF, multiple threads here on how to convert your GBP into CHF best with the least costs
Nor can we change our existing UK accounts to anything else, even though we've been banking with them for decades.
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Old 11.04.2017, 01:10
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Re: Non resident bank account

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So can't be done without being a resident here with them. Not possible to do it online either.
Of course it can, you are just reading the rules for the average joe public. Rock up with 3m - 5m and solid evidence of the source and you will be accommodated.
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Old 11.04.2017, 07:14
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Re: Non resident bank account

Maybe, but likely not relevant in the OP's case. Otherwise they'd have a Swiss bank account by now.
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Old 11.04.2017, 08:08
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Re: Non resident bank account

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Of course it can, you are just reading the rules for the average joe public. Rock up with 3m - 5m and solid evidence of the source and you will be accommodated.
Much less than that. 500k would get you started. The fees as a percentage of wealth might put you off though.
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Old 11.04.2017, 08:36
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Re: Non resident bank account

I opened a non resident account with UBS 2-3 months ago (there's a thread on here somewhere).

Costs 30CHF more than the normal account (can't remember if it's per month or per year). Rocked up at UBS in Zurich, got bounced around a few branches until I found one that was "big enough" to handle non-resident accounts (their words).

Side room, got asked for:
- passport
- employment contract
- UK address

and was good to go. Got told that if I had more than 10k deposit the account would be cheaper, but my initial deposit was 1GBP (test amount - was using currencyFair* for the first time).

Was also told that once I moved here, I would just have to show my B permit and they would change the account and address, and stop charging me the 30CHF.

One thing to note - they wont give you a "real" credit card with a non-resident account. You get one of those pre-paid ones.

Once I moved here, I did just that, now waiting for my new credit card.

If you want I can find details of the branch and lady I spoke to.
M

* If anyone is thinking of using currencyFair, let me refer you - we both get 45-euro and a free transfer...
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Old 11.04.2017, 12:06
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Re: Non resident bank account

Thanks for the info Spinal. Can you get me the contact details of the person who helped you: She might be able to refer me to someone at the relevant branch in GE.
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