Opening Accounts With Banks in Switzerland for Foreigners

Opening accounts with banks in Switzerland for foreigners is 100% possible as long as they choose the right bank, meet the opening requirements, and have a suitable client profile.

In this article, we’re exploring the banks in Switzerland for foreigners. We’ll share details on how foreigners can open accounts with renowned financial companies, including the best banks in Switzerland, and answer common questions we receive from people exploring this topic.

This article is part of our free series on the best banks in Switzerland. You can access this series right now by using the link above.

In addition to detailed account opening guides, this free series on Swiss banking also discusses the largest banks in Switzerland, Switzerland’s opening requirements, the costs of banking in Switzerland, and much more. Use the link above to start exploring all of your free Swiss banking content right now.

Alternatively, use the table of contents to continue exploring more information on the best banks in Switzerland for foreigners.

Table of Contents

  1. Are There Banks in Switzerland for Foreigners?
  2. How Can I Open a Swiss Bank Account as a Foreigner?
  3. Frequently Asked Switzerland Banking Questions
  4. Do You Want to Open a Switzerland Bank Account?

Are There Banks in Switzerland for Foreigners?

Yes, there are banks in Switzerland for foreigners. These banks include foreign-owned banks, private banks, and other financial institutions that offer multi-currency accounts, investment options, and wealth management services.

Here is a list of five popular financial institutions that open bank accounts for foreigners.

Foreign Banks in Switzerland for Foreigners.

  1. Barclays
  2. BNP Paribas
  3. Deutsche Bank
  4. J.P. Morgan Chase Bank
  5. Société Générale

Opening a bank account as a foreigner or trying to find the best bank in Switzerland for expats requires preparation and careful consideration. We share details on how to open a Swiss bank account as a foreigner in the next section below.

How Can I Open a Swiss Bank Account as a Foreigner?

Determining how to open a Swiss bank account as a foreigner depends on various factors, including the bank you choose, the type of account you want to open, and your banking profile.

The requirements for opening a Swiss bank account as a foreigner also depend on your country of citizenship, country of residence, the financial services you are after, and your deposit level.

Here is a closer look at the common seven requirements foreigners can expect when opening a Swiss bank account.

Requirements for Opening a Swiss Bank Account as a Foreigner

  1. Government-issued identification
  2. Proof of residency
  3. Tax Identification
  4. Bank statement (from current bank account)
  5. Bank reference letter (not always required)
  6. Professional reference letter (not always required)
  7. Qualifying deposit

If you are interested in learning more about banking in Switzerland, don’t forget to visit our comprehensive guide on banking in Switzerland, available in the link above.

Alternatively, if you would like to explore all of your offshore banking options, download our free guide and compare Switzerland to some of the top banking jurisdictions available.

Do You Want to Explore All Your Offshore Banking Options?

Frequently Asked Switzerland Banking Questions

Below are a few of the most common questions we receive from people exploring the banks in Switzerland for foreigners. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.

What American Banks Are in Switzerland?

There are five American banks in Switzerland. These five American banks include J.P Morgan (Suisse), CitiBank (Switzerland), Bank Morgan Stanley Ltd, and Goldman Sachs Bank AG. Each of these banks offers a variety of different banking services and products including wealth management, private banking, investment banking, and more.

Can Foreigners Open Bank Accounts in Switzerland?

Yes, foreigners can open bank accounts in Switzerland as long as they choose the right bank, meet the opening requirements, make a qualifying deposit, and have a suitable client profile. Bank selection is an important factor to consider when choosing where to open a bank account in Switzerland as a non-resident.

Which Bank Is Best for Non-Residents in Switzerland?

The bank that is the best for non-residents in Switzerland depends on the person applying for the account. More specifically, their citizenship, residency, banking needs, and deposit level. Not all banks in Switzerland are suitable for every client type. The best bank for you is likely to be different for another client type. Choose banks that accept similar client types, align with your banking needs, and have requirements you can meet.

Do You Want to Open a Switzerland Bank Account?

If so, you can access GlobalBanks IQ and start the process of applying in Switzerland in a few clicks.

GlobalBanks IQ is our flagship international bank account opening solution. It gives you instant access to the…

+ Expert insights on which banks to choose & why

+ Step-by-step reports to open bank accounts in the best banking hubs

+ GlobalBanks international bank database & detailed bank profiles

+ Tried & tested banks for high-risk, offshore, & non-resident clients

+ Plus, get YOUR most pressing bank account opening questions answered by our team!

And “yes!” GlobalBanks IQ helps foreigners and non-resident individuals open bank accounts.

In fact, GlobalBanks IQ even helps non-resident, foreign & offshore entities open bank accounts.

To learn more about opening accounts with GlobalBanks IQ, use the link in the top menu. Or, contact us directly with any questions!

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GlobalBanks Team
GlobalBanks Team

The GlobalBanks editorial team comprises a group of subject-matter experts from across the banking world, including former bankers, analysts, investors, and entrepreneurs. All have in-depth knowledge and experience in various aspects of international banking. In particular, they have expertise in banking for foreigners, non-residents, and both foreign and offshore companies.

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