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Old 07.11.2019, 17:06
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Relocating to Switzerland soon. With whom to bank with?

Hi,

I'll be relocating to Switzerland and surely be looking to open a new bank account. Where I come from (UK) there are many free bank account options to chose from, but after going through info here in this forum I see that these type of accounts are almost non existent...
What would you recommend for a foreign expat that has just moved to Switzerland? Would something like Revolut or Cler work for me?
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Old 07.11.2019, 17:25
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Re: Relocating to Switzerland soon. With whom to bank with?

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Hi,

I'll be relocating to Switzerland and surely be looking to open a new bank account. Where I come from (UK) there are many free bank account options to chose from, but after going through info here in this forum I see that these type of accounts are almost non existent...
What would you recommend for a foreign expat that has just moved to Switzerland? Would something like Revolut or Cler work for me?
I can'r recommend a bank but if you are not proficient in one of the local languages, I'd choose a bank (at least at the beginning) where they operate additionally in English - so you can read the terms, conditions, online features and so on and understand them fully.
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Old 07.11.2019, 17:30
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Re: Relocating to Switzerland soon. With whom to bank with?

Unless you're holding US-American citizenship, you'll be able to choose from all banks pretty much.

If you want a no-frills bank, CLER with their "Zak" isn't too bad. Otherwise, Migrosbank is pretty solid overall if you want a bit more services. It depends a lot to which area you're moving, what kind of services you want (stock deposit, trading, easy access overseas etc.)

Obviously CS and UBS are the two big banks here, but I would probably not recommend them for a simple account.
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Old 07.11.2019, 17:32
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Re: Relocating to Switzerland soon. With whom to bank with?

When I moved here, the relocation company said use UBS.


I did, never had an issue, everything in English, good website etc.
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Old 07.11.2019, 17:35
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Re: Relocating to Switzerland soon. With whom to bank with?

Cantonal bank
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Old 07.11.2019, 17:50
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Re: Relocating to Switzerland soon. With whom to bank with?

I like UBS. Everything in English, internet banking is great., they were awesome helping us with mortgage and buying our apartment. It's not free, but me and husband pay 15 francs a month between us for all our accounts and credit cards.
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Old 07.11.2019, 18:04
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Re: Relocating to Switzerland soon. With whom to bank with?

Thanks all, I'll do some more research but for a no-frills bank account it looks like Cler might be the one.
I do speak some French and I can understand it both spoken and read so I should be fine I believe.
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Old 07.11.2019, 18:49
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Re: Relocating to Switzerland soon. With whom to bank with?

+1 for UBS. We were invited to watch Morgestreich from the first floor of their branch at Marktplatz.
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Old 07.11.2019, 18:59
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Re: Relocating to Switzerland soon. With whom to bank with?

UBS for me too. You get 1yr of free banking with the “individual package”. It is supposed to be 15chf per month after the 1st yr I think but I’m here nearly 2yrs and still haven’t paid this monthly fee.

You need to also set yourself up on Transferwise so that you can transfer money out of Switzerland cheaply, also I recommend Monzo for UK banking as there are no fees abroad, unlike other banks like NatWest etc... Personally not a fan of Revolut as it is basically a pre-paid credit card, not a Bank but each to their own...
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Old 07.11.2019, 20:15
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Re: Relocating to Switzerland soon. With whom to bank with?

We have postfinance, which works well and they provide info in English
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Old 07.11.2019, 20:33
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Re: Relocating to Switzerland soon. With whom to bank with?

We have Post Finance and UBS, the latter is a requirement as my OH is an employee.
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Old 07.11.2019, 21:26
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Re: Relocating to Switzerland soon. With whom to bank with?

+1 for UBS, for the 10 CHF per month package I am happy with what they offer.

Great service so far (been a customer for the last 10 years)
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Old 07.11.2019, 22:51
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Re: Relocating to Switzerland soon. With whom to bank with?

I went with Raiffeisen when I moved here. Nothing in English which was a drawback. The biggest selling point was the bank card giving you access to loads of museums. We have only been here a few months and have saved a fair chunk of change this way.
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