Go Back   English Forum Switzerland > Help & tips > Leaving Switzerland  
Reply
 
Thread Tools Display Modes
  #1  
Old 06.10.2010, 21:13
Newbie 1st class
 
Join Date: Oct 2010
Location: Adliswil
Posts: 11
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
gsasha has no particular reputation at present
Leaving Switzerland - keeping the bank account

I'm going to leave Switzerland at some point, but I very much like the nice service I get from my UBS account... Is it possible to keep it? Any rasons for doing or not doing this (costs, taxes, etc.)
Reply With Quote
  #2  
Old 06.10.2010, 21:14
acmilan's Avatar
Forum Veteran
 
Join Date: Aug 2008
Location: San Donato Milanese
Posts: 612
Groaned at 15 Times in 10 Posts
Thanked 805 Times in 350 Posts
acmilan has a reputation beyond reputeacmilan has a reputation beyond reputeacmilan has a reputation beyond reputeacmilan has a reputation beyond repute
Re: Leaving Switzerland - keeping the bank account

need to still have a registered address in switzerland in order to be able to keep it open. otherwise it has to close.
Reply With Quote
  #3  
Old 06.10.2010, 21:14
Forum Legend
 
Join Date: Apr 2008
Location: Zurich
Posts: 3,707
Groaned at 72 Times in 51 Posts
Thanked 3,938 Times in 2,123 Posts
rainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond repute
Re: Leaving Switzerland - keeping the bank account

Quote:
View Post
I'm going to leave Switzerland at some point, but I very much like the nice service I get from my UBS account... Is it possible to keep it? Any rasons for doing or not doing this (costs, taxes, etc.)
What's your nationality?
Where do you move?
Reply With Quote
  #4  
Old 06.10.2010, 21:24
Newbie 1st class
 
Join Date: Oct 2010
Location: Adliswil
Posts: 11
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
gsasha has no particular reputation at present
Re: Leaving Switzerland - keeping the bank account

I move to Israel.

One thing I don't really understand: even if I must close the account, I'll need it in the interim period, to take care of stuff during my move... I can't just take out the moneyI have as cash and ride with it.
Reply With Quote
  #5  
Old 06.10.2010, 21:26
acmilan's Avatar
Forum Veteran
 
Join Date: Aug 2008
Location: San Donato Milanese
Posts: 612
Groaned at 15 Times in 10 Posts
Thanked 805 Times in 350 Posts
acmilan has a reputation beyond reputeacmilan has a reputation beyond reputeacmilan has a reputation beyond reputeacmilan has a reputation beyond repute
Re: Leaving Switzerland - keeping the bank account

Quote:
View Post
I move to Israel.

One thing I don't really understand: even if I must close the account, I'll need it in the interim period, to take care of stuff during my move... I can't just take out the moneyI have as cash and ride with it.
well then just close it shortly before you go. do you know have an account back in israel? you can just transfer your money back into your israeli account. that is what im doing...but not to israel lol
Reply With Quote
  #6  
Old 06.10.2010, 21:51
RetiredInNH's Avatar
Forum Veteran
 
Join Date: Apr 2007
Location: New Hampshire, USA
Posts: 2,264
Groaned at 13 Times in 5 Posts
Thanked 1,481 Times in 747 Posts
RetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond reputeRetiredInNH has a reputation beyond repute
Re: Leaving Switzerland - keeping the bank account

There have been many threads on this topic, and clearly different banks have different approaches.

I know that PostFinance allows non-resident accounts: I have a PostFinance account and live in the States. I can do my banking securely from home, in English.

If UBS does not allow you to keep your account (ask UBS, not EF ) I suggest that you open a PostFinance account.
Reply With Quote
  #7  
Old 06.10.2010, 21:56
mabern's Avatar
Forum Veteran
 
Join Date: Sep 2007
Location: V.South West of Zurich
Posts: 1,193
Groaned at 7 Times in 6 Posts
Thanked 417 Times in 285 Posts
mabern has an excellent reputationmabern has an excellent reputationmabern has an excellent reputationmabern has an excellent reputation
Re: Leaving Switzerland - keeping the bank account

You can keep it open until a date you set in the furure to take care of all the income or expenses for a few months at least!
Perhaps not long term though as you would probably need a different type of account or the deposit could get eaten up by the charges...
Reply With Quote
  #8  
Old 06.10.2010, 21:57
fatih.erol's Avatar
Senior Member
 
Join Date: May 2008
Location: Zurich
Posts: 391
Groaned at 1 Time in 1 Post
Thanked 193 Times in 106 Posts
fatih.erol has made some interesting contributions
Re: Leaving Switzerland - keeping the bank account

well, i believe you can keep it open for some period after you leave, so that money like apartment renting deposits can be transferred to there. and then they will close it, after transferring the whole amount to an account in your home bank, with minor transfer fees.

of course, if you are talking about millions, i am sure there can be a way ;-) maybe, simply rent a post box for communication... also, i think, they have some laws that would give them the right to confiscate the money if the account holder hasn't done any operations for a while..
Reply With Quote
  #9  
Old 06.10.2010, 22:06
Forum Legend
 
Join Date: Apr 2008
Location: Zurich
Posts: 3,707
Groaned at 72 Times in 51 Posts
Thanked 3,938 Times in 2,123 Posts
rainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond repute
Re: Leaving Switzerland - keeping the bank account

Quote:
View Post
I move to Israel.

One thing I don't really understand: even if I must close the account, I'll need it in the interim period, to take care of stuff during my move... I can't just take out the moneyI have as cash and ride with it.
You being from Israel, I suggest you have a talk with a rep from your bank.

It would only be a big problem if you were from the US.

There are often a lot of "special" exceptions for Israeli citizens.

That said, I don't think it is a problem holding a Swiss bank account with no address in Switzerland (with the noted exception of people with a US-address).
Reply With Quote
  #10  
Old 06.10.2010, 23:19
Newbie 1st class
 
Join Date: Oct 2010
Location: Adliswil
Posts: 11
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
gsasha has no particular reputation at present
Re: Leaving Switzerland - keeping the bank account

Thanks everybody!
Reply With Quote
  #11  
Old 03.02.2011, 10:02
Junior Member
 
Join Date: Aug 2007
Location: Paris
Posts: 49
Groaned at 0 Times in 0 Posts
Thanked 13 Times in 7 Posts
Bricin has no particular reputation at present
Re: Leaving Switzerland - keeping the bank account

As a US citizen with a UBS account I can confirm that:
  1. If you move to an EU country UBS will keep the account open
  2. If you move to the US UBS will ask you to close the account
I am following up with PostFinance, their Online Set account looks like what I need. The confusing part is that you can apply online but you need to validate your ID in Switzerland. Which means the process seems to be apply, get the forms in the US, go to the US, get the forms, fly back to CH, validate ID.

Does anyone know: if I walk into PostFinance can I open the account immediately?
Reply With Quote
  #12  
Old 03.02.2011, 10:15
Forum Legend
 
Join Date: Dec 2006
Location: Zurich
Posts: 4,921
Groaned at 184 Times in 120 Posts
Thanked 8,531 Times in 2,866 Posts
Kittster has a reputation beyond reputeKittster has a reputation beyond reputeKittster has a reputation beyond reputeKittster has a reputation beyond reputeKittster has a reputation beyond reputeKittster has a reputation beyond repute
Re: Leaving Switzerland - keeping the bank account

Quote:
View Post
Does anyone know: if I walk into PostFinance can I open the account immediately?
That's what I did with a German friend of mine a few years back but I don't know if you still can. All they needed from her was a piece of identification.
Reply With Quote
  #13  
Old 03.02.2011, 12:10
miss_bean's Avatar
Forum Veteran
 
Join Date: Sep 2008
Location: Zurich
Posts: 525
Groaned at 3 Times in 3 Posts
Thanked 464 Times in 224 Posts
miss_bean has an excellent reputationmiss_bean has an excellent reputationmiss_bean has an excellent reputationmiss_bean has an excellent reputation
Re: Leaving Switzerland - keeping the bank account

Quote:
View Post
That's what I did with a German friend of mine a few years back but I don't know if you still can. All they needed from her was a piece of identification.
Yes we did the same this year. The account can be opened immediately, it takes couple of days to get the account details by post.
you can even open it online.

http://www.postfinance.ch/en/priv/pr...chf/apply.html
Reply With Quote
  #14  
Old 04.02.2011, 19:58
Newbie
 
Join Date: Feb 2010
Location: Lausanne
Posts: 1
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
elisemweerd has no particular reputation at present
Re: Leaving Switzerland - keeping the bank account

You should be able to keep it open...

My parents have an UBS account and neither of them lives in Switzerland...

But the service is great, they speak fluent english so why not just give them a call and ask?
Reply With Quote
  #15  
Old 04.02.2011, 20:44
Newbie 1st class
 
Join Date: Apr 2010
Location: Basel
Posts: 12
Groaned at 0 Times in 0 Posts
Thanked 15 Times in 3 Posts
mabelpaulsiva has no particular reputation at present
Re: Leaving Switzerland - keeping the bank account

Quote:
View Post
I'm going to leave Switzerland at some point, but I very much like the nice service I get from my UBS account... Is it possible to keep it? Any rasons for doing or not doing this (costs, taxes, etc.)


My husband just enquired at UBS today, think it depends on where you come from and if the country has set any restrictions. Also a minimum amount may apply. In our case, we are from Malaysia and there seems to be no restrictions. So maybe worthwhile just to chat with them. Best wishes!
Reply With Quote
  #16  
Old 13.05.2013, 11:24
Junior Member
 
Join Date: Nov 2012
Location: Lugano
Posts: 32
Groaned at 0 Times in 0 Posts
Thanked 4 Times in 4 Posts
Adenosin82 has no particular reputation at present
Re: Leaving Switzerland - keeping the bank account

Quote:
View Post
There have been many threads on this topic, and clearly different banks have different approaches.

I know that PostFinance allows non-resident accounts: I have a PostFinance account and live in the States. I can do my banking securely from home, in English.

If UBS does not allow you to keep your account (ask UBS, not EF ) I suggest that you open a PostFinance account.
I think that this has changed (this thread is pretty old). I called PostFinance about this a couple of weeks ago and they told me that I could only keep my account opened in very specific cases. I do not remember the conditions (having some business in Switzerland, being a Swiss citizen, things like that) but being a Spaniard finishing a job in Switzerland and going back to the UK did not fulfill any of them.

I think I would like to keep a Swiss bank account when I leave... has anybody verified lately if UBS or Credit Suisse would allow this for an EU-national leaving for an EU country?

Thanks!
Reply With Quote
  #17  
Old 01.06.2013, 18:16
grantley's Avatar
Member
 
Join Date: Dec 2007
Location: Belmont-sur-Lausanne
Posts: 175
Groaned at 1 Time in 1 Post
Thanked 58 Times in 42 Posts
grantley has made some interesting contributions
Re: Leaving Switzerland - keeping the bank account

I am leaving Switzerland for the UK. I spoke to the UBS and there is no problem at all in keeping my accounts. All communications will be via eBanking.
I can even keep a credit card as long as I deposit the equivalent of my spending limit which will be helpful given that it will take a while to get one in the UK.
Reply With Quote
This user would like to thank grantley for this useful post:
  #18  
Old 02.06.2013, 09:04
Forum Veteran
 
Join Date: Jan 2013
Location: Vaud
Posts: 505
Groaned at 3 Times in 3 Posts
Thanked 332 Times in 217 Posts
slingb is considered knowledgeableslingb is considered knowledgeableslingb is considered knowledgeable
Re: Leaving Switzerland - keeping the bank account

Quote:
View Post
I am leaving Switzerland for the UK. I spoke to the UBS and there is no problem at all in keeping my accounts. All communications will be via eBanking.
I can even keep a credit card as long as I deposit the equivalent of my spending limit which will be helpful given that it will take a while to get one in the UK.
But your monthly fee will be CHF 40 per account?
Reply With Quote
  #19  
Old 04.06.2013, 11:44
Newbie
 
Join Date: Apr 2013
Location: Zug
Posts: 6
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 1 Post
burnbe has no particular reputation at present
Re: Leaving Switzerland - keeping the bank account

I know this thread is a little old, but just wanted to add...We are soon to be leaving Switzerland and going back to the states. We have been told that our account can stay open for a reasonable time to tie off loose ends (make final payments, receive balances, etc), but that our cards will be destroyed before we go.
Reply With Quote
  #20  
Old 05.06.2013, 14:03
Newbie
 
Join Date: Aug 2011
Location: Zurich
Posts: 8
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
black2 has no particular reputation at present
Re: Leaving Switzerland - keeping the bank account

I can confirm grantley comment.
I'm leaving Switzerland, going to Spain. I can keep my UBS account open as long as I want. Whenever your assets are below 50000CHF you have to pay maintenance fee of 30CHF per month.
You also have to go in person to the office to communicate them your new address abroad.
Hope this helps.
Reply With Quote
Reply

Tags
bank account




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
When leaving...close bank account hollisterb Leaving Switzerland 127 25.05.2015 14:16
Keeping Swiss credit cards and bank account when leaving evilshell Leaving Switzerland 11 10.05.2010 17:49
Retaining bank account when leaving Switzerland TheCaptain Finance/banking/taxation 5 05.05.2009 23:09
Opening a U.S. bank account from Switzerland? gurutalon Other/general 9 17.09.2006 14:14


All times are GMT +2. The time now is 05:45.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0