In this article, we’re exploring the best bank in Switzerland for expats. We’ll share details on the top-rated institutions available, including the best banks in Switzerland for foreign non-residents, 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 bank in Switzerland for expats.
Table of Contents
- What Is the Best Bank in Switzerland for Expats?
- How to Choose the Best Swiss Bank for Expats?
- Frequently Asked Switzerland Banking Questions
- Do You Want to Open a Switzerland Bank Account?
What Is the Best Bank in Switzerland for Expats?
The best bank in Switzerland for expats depends on the banking needs of the individual. More specifically, the type of account they want to open, the type of services they are after, and how much money they can deposit.
An expat is an individual who resides outside of their country of origin for usually an extended period of time. Opening an international financial account with the best bank in Switzerland for non-residents provides accessibility and convenience to the needs of an expat during their time abroad.
Not all banks in Switzerland are expat-friendly. Knowing how to choose the right bank is an important step when applying for a Swiss bank account as an expat. We share exactly how to do this in the section below.
How to Choose the Best Swiss Bank for Expats?
Choosing the best Swiss bank for expats is a difficult process but 100% possible with preparation and careful consideration.
Banks in Switzerland, as mentioned above, are not all expat-friendly. Most banks here cater to high-net-worth individuals seeking tailored sophisticated banking services such as wealth management, investment banking, and estate planning. There are, of course, a few exceptions.
Some banks will open bank accounts for expats and non-residents, you just need to know how to find the banks in Switzerland that are for foreigners. You just need to know how to find them.
Here are five factors expats need to consider when choosing a Swiss bank to open an account with.
Factors to Consider When Choosing a Swiss Bank as an Expat
- Offers multicurrency accounts
- Has an accessible online banking platform
- Has no hidden fees
- Offers remote account opening
- Has a straightforward account opening process
- Has low international transfer fees
Selecting a bank requires careful consideration. You need to choose a bank that aligns with your expat banking needs, offers the financial services you are after, and supports your international lifestyle.
Nonetheless, opening a Swiss bank account as an expat provides accessibility and convenience for your everyday expenses while living abroad in Switzerland.
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 best bank in Switzerland for expats. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Which Bank Is Best for Non-Residents in Switzerland?
The bank that is 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.
Can a US Citizen Have a Swiss Bank Account?
Yes, a US citizen can have a Swiss bank account as long as they choose the right bank, meet the opening requirements, make a qualified deposit, and have a suitable client profile. Not all banks in Switzerland accept US citizens, so bank selection is going to be an important factor to consider when choosing where to open a Swiss bank account as a US citizen.
Which Swiss Bank Account Is Best?
The Swiss bank account that is the best depends on the person applying for the account. More specifically, their banking needs. Not all banks in Switzerland are created equal. Some banks only accept residents and domestic businesses, whereas others accept non-residents and private banking clients.
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.
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And “yes!” GlobalBanks IQ helps foreigners and non-resident individuals open bank accounts.
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To learn more about opening accounts with GlobalBanks IQ, use the link in the top menu. Or, contact us directly with any questions!
