Swiss banks are happy to have foreign residents as customers. You can hold an account in Swiss francs or in a range of other world currencies. Each bank will set the minimum deposit amount for opening the account, so you will need to find a bank that will accept the amount of funds you have.

$1 million
Minimum Deposit: The minimum deposit to open a Swiss bank account is typically $1 million or the equivalent in another currency. If that amount is out of a client’s range, there are many excellent offshore banking options with minimum deposits as low as $1000 or less.

Cost of Opening a Swiss Account As is the case with most banks, there are some fees to take care of once you set up your account. These fees are within the normal range, but there’s a way of getting around them. So, you can expect a monthly maintenance fee from CHF 10 to CHF 30.

If you do, opening an account at a bank or credit union is straightforward. The interest they pay for savings accounts You usually need to make an initial deposit between $25 and $100 to open a savings or checking account. Find out how much you must keep in the account at all times to avoid or reduce fees.

It’s possible to set up a Swiss bank account before you come to the country, but you’re likely to be asked for extensive notarized documentation. It may be easier to start your application online and provide the required documentation to open the account in person once you’re in Switzerland.

List of All Banks Savings Account Interest Rates and Minimum Balance 2021

Swiss National Bank

By keeping money in Swiss banks, one would earn lower levels of interest and consequently, would pay a lower amount of tax on their interest income. By this, they could evade the high taxes that they would have been obliged to pay if they had deposited their money in their nation.

While switching incentives are not as plentiful as they used to be, there are still several banks that will give you money for opening an account.

• HSBC Advance.
• First Direct.
• Halifax Reward.
• Virgin Money.
• Santander.
• Nationwide.

– UBS. Union Bank of Switzerland merged with the Swiss Bank Corporation in 1998, forming UBS AG Zurich and Basel. – Credit Suisse. Credit Suisse Group AG, which has its corporate headquarters in Zurich, is the second-largest bank in Switzerland with more than 878 billion Swiss francs in assets. – Swiss Raiffeisen. – Zurich Cantonal Bank. – Julius Baer.

UBS Group AG came into existence in June 1998, when Union Bank of Switzerland, founded in 1862, and Swiss Bank Corporation , founded in 1872, merged. Headquartered in Zurich and Basel, it is Switzerland’s largest bank.

How Swiss Bank Accounts Work. ­James Bond enters a Swiss bank in Spain and is frisked before he can meet with the banker. In the “Da Vinci Code,” a triangular-shaped key activates a robotic arm that pulls a safety deposit box from the wall in a Swiss bank in Paris to ultimately reveal the secret to Christianity .

The main benefits of Swiss bank accounts include the low levels of financial risk and high levels of privacy they offer. The Swiss economy is one of the most stable in the world, and has not been involved in any conflicts in hundreds of years.