Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 08.12.2018, 23:59
Newbie
 
Join Date: Oct 2018
Location: Zurich
Posts: 5
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
Wonder woman has no particular reputation at present
Can a non resident open a bank account in Switzerland?

Hi
one of my cousins would like to open a savings account in Switzerland, but she is not living here. Do you know which bank allows this for non residents? Do they ask for a minimum amount?
tIA!
Reply With Quote
  #2  
Old 09.12.2018, 09:29
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Switzerland
Posts: 20,462
Groaned at 354 Times in 269 Posts
Thanked 14,918 Times in 8,573 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: Can a non resident open a bank account in Switzerland?

Probably a minimum amount and high monthly fees as well. Check the banks' websites to see who may or may not allow this these days.
Reply With Quote
  #3  
Old 09.12.2018, 11:08
Member
 
Join Date: Jun 2013
Location: Northwest CH
Posts: 144
Groaned at 4 Times in 3 Posts
Thanked 193 Times in 81 Posts
Kaloid123 has earned the respect of manyKaloid123 has earned the respect of manyKaloid123 has earned the respect of many
Re: Can a non resident open a bank account in Switzerland?

I have heard lots depends upon citizenship. EU citizens usually well accepted, but the dreaded USA passport makes the banks very shy (unless you have mega money to but on account.)
Some brokerages like SwissQuote will take non-resident accounts (but have to do full ID, anti-money laundering check, etc) where one can get trading rights plus credit cards to access cash in account.
Good luck!
Reply With Quote
  #4  
Old 09.12.2018, 16:35
Neko's Avatar
Junior Member
 
Join Date: Sep 2017
Location: Vaud
Posts: 87
Groaned at 0 Times in 0 Posts
Thanked 54 Times in 34 Posts
Neko is considered knowledgeableNeko is considered knowledgeableNeko is considered knowledgeable
Re: Can a non resident open a bank account in Switzerland?

When I was living outside Switzerland but planning to move in I opened an account with La Poste / Postfinance. Was living in the EU at the time, no problem but soon after few years ago they introduced higher fees, eg to post documents. It's the most basic of accounts with online access.



Since 2017 they introduced a monthly non-dom fee, CHF25 a month: https://www.postfinance.ch/en/privat...count-chf.html
Reply With Quote
  #5  
Old 20.12.2018, 23:33
Forum Veteran
 
Join Date: Feb 2012
Location: Zürich
Posts: 919
Groaned at 3 Times in 3 Posts
Thanked 524 Times in 319 Posts
ChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond repute
Re: Can a non resident open a bank account in Switzerland?

The German "Sparkasse Hochrhein" offers a bank account with a Swiss IBAN. This account thus looks like a "normal" Swiss account, but it's with a German bank.


I don't even know which (if any) deposit protection scheme applies.


However, I know that they accept a lot of customers, including people who don't even live in Europe.


I explained it within this article (towards the end):
https://steemit.com/banking/@cafunke...to-switzerland


Actual account can be found here:
https://www.sparkasse-hochrhein.de/d...iro-swiss.html
Reply With Quote
  #6  
Old 21.12.2018, 13:13
Spinal's Avatar
Forum Veteran
 
Join Date: Dec 2016
Location: Zurich
Posts: 787
Groaned at 6 Times in 5 Posts
Thanked 655 Times in 303 Posts
Spinal has an excellent reputationSpinal has an excellent reputationSpinal has an excellent reputationSpinal has an excellent reputation
Re: Can a non resident open a bank account in Switzerland?

Short answer: Yes it is possible.

Long answer:
Depends on citizenship and residence.

If your cousin has any ties to the USA, Russia, China or some African countries, you'll need to goto specialist banks (e.g. private banks), who will do it with minimum deposit amounts (usually 250k-2mio, depending on the bank).

If EU citizen/resident, it's much easier. Walk into UBS at Paradeplatz and ask for an account to be opened. Bring a passport. Pay something every month (iirc 25chf a month or so)
Reply With Quote
  #7  
Old 22.12.2018, 11:46
Forum Veteran
 
Join Date: Feb 2012
Location: CH
Posts: 2,304
Groaned at 87 Times in 73 Posts
Thanked 2,002 Times in 1,123 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
Re: Can a non resident open a bank account in Switzerland?

Quote:
View Post
The German "Sparkasse Hochrhein" offers a bank account with a Swiss IBAN. This account thus looks like a "normal" Swiss account, but it's with a German bank.
So do about 100 other banks from around the world, you can shop from the master list. Swiss IBAN only means they're in an intimate business relationship with the SNB, nothing more

Quote:
I don't even know which (if any) deposit protection scheme applies.
Not the swiss one

Quote:
one of my cousins would like to open a savings account in Switzerland, but she is not living here.
But why? Interest is shit and fees are enormous
Reply With Quote
This user would like to thank ivank for this useful post:
  #8  
Old 09.12.2018, 11:08
Today only's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Europe
Posts: 7,841
Groaned at 859 Times in 588 Posts
Thanked 9,795 Times in 4,648 Posts
Today only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond repute
Re: Can a non resident open a bank account in Switzerland?

Quote:
View Post
Hi
one of my cousins would like to open a savings account in Switzerland, but she is not living here. Do you know which bank allows this for non residents? Do they ask for a minimum amount?
tIA!



Usually Chf 500'000.--



I don't know of any banks here willing to open for non residents unless you are in the position where the bank calls you to inquire whether you would like to consider opening an account with them.


Unfortunately the "peanut" accounts no longer are interesting for them to administer, due diligence and prove of origin costs are far too onerous
Reply With Quote
  #9  
Old 21.12.2018, 15:17
omtatsat's Avatar
Forum Legend
 
Join Date: Oct 2007
Location: Timbuktoo/Zürich
Posts: 8,361
Groaned at 1,598 Times in 869 Posts
Thanked 3,712 Times in 2,363 Posts
omtatsat omtatsat omtatsat omtatsat omtatsat
Re: Can a non resident open a bank account in Switzerland?

Quote:
View Post
Hi
one of my cousins would like to open a savings account in Switzerland, but she is not living here. Do you know which bank allows this for non residents? Do they ask for a minimum amount?
tIA!
If you are a rich Russian holigarch the they would love to open an account for you. NO questions asked!
Reply With Quote
The following 5 users groan at omtatsat for this post:
  #10  
Old 21.12.2018, 15:31
Today only's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Europe
Posts: 7,841
Groaned at 859 Times in 588 Posts
Thanked 9,795 Times in 4,648 Posts
Today only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond repute
Re: Can a non resident open a bank account in Switzerland?

Quote:
View Post
If you are a rich Russian holigarch the they would love to open an account for you. NO questions asked!

That's about the lat person they'll open an account for !
Reply With Quote
The following 2 users would like to thank Today only for this useful post:
  #11  
Old 22.12.2018, 14:22
omtatsat's Avatar
Forum Legend
 
Join Date: Oct 2007
Location: Timbuktoo/Zürich
Posts: 8,361
Groaned at 1,598 Times in 869 Posts
Thanked 3,712 Times in 2,363 Posts
omtatsat omtatsat omtatsat omtatsat omtatsat
Re: Can a non resident open a bank account in Switzerland?

Quote:
View Post
That's about the lat person they'll open an account for !
don't you believe it . They suck ...... for these people!
Reply With Quote
  #12  
Old 23.12.2018, 17:17
Today only's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Europe
Posts: 7,841
Groaned at 859 Times in 588 Posts
Thanked 9,795 Times in 4,648 Posts
Today only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond repute
Re: Can a non resident open a bank account in Switzerland?

Quote:
View Post
don't you believe it . They suck ...... for these people!

I'm sure you know best Omtatarse
Reply With Quote
This user would like to thank Today only for this useful post:
  #13  
Old 22.12.2018, 03:15
Junior Member
 
Join Date: Dec 2016
Location: Hong Kong
Posts: 32
Groaned at 1 Time in 1 Post
Thanked 11 Times in 7 Posts
HKCH has no particular reputation at present
Re: Can a non resident open a bank account in Switzerland?

Quote:
View Post
Hi
one of my cousins would like to open a savings account in Switzerland, but she is not living here. Do you know which bank allows this for non residents? Do they ask for a minimum amount?
tIA!
Swiss citizen but don't live in CH (yet). Tried to open an account with Raffeisen - impossible (at least when we tried). Tried CreditSuisse, and they had some option, if I pad a fee AND deposited minimum 500 CHF/month to some saving scheme.

I just wanted a normal checking account that I could transfer to and from - not even with a credit card (but a debit card would have been nice, though, as not all shops accept VISA/mastercard/AMEX, especially not when from abroad)
Reply With Quote
  #14  
Old 23.12.2018, 15:48
Forum Veteran
 
Join Date: Feb 2012
Location: Zürich
Posts: 919
Groaned at 3 Times in 3 Posts
Thanked 524 Times in 319 Posts
ChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond reputeChrisNeedsToKnow has a reputation beyond repute
Re: Can a non resident open a bank account in Switzerland?

Quote:
View Post
...I just wanted a normal checking account that I could transfer to and from...
For this purpose I can re-recommend Sparkasse Hochrhein.


https://www.sparkasse-hochrhein.de/d...iro-swiss.html


Althoug it's a German bank, their "Giro Swiss" offer provides you with a normal Swiss IBAN allowing for "normal" domestic Swiss transactions. (It is most specifically NOT just a foreign currency account!)

I know folks resident in Panama who managed to open it, so I guess it's relatively easy.
Reply With Quote
The following 2 users would like to thank ChrisNeedsToKnow for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Opening a Bank Account for non-resident (non-SEPA nationals) magikarp Finance/banking/taxation 3 04.02.2018 10:22
open a bank account [non-resident] kgini Finance/banking/taxation 7 28.08.2014 10:28
Bank account for resident&non-resident dimli Finance/banking/taxation 0 11.10.2010 14:05
Foreign non-resident wanting to open a bank account Tweener Finance/banking/taxation 16 16.05.2010 13:13


All times are GMT +2. The time now is 15:51.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0