In this article, we’re exploring the largest retail banks in Switzerland. We’ll share details on how to open accounts with major institutions and the largest banks in Switzerland and answer common questions we receive from people exploring this topic.
This article is part of our free series on the largest 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 largest retail banks in Switzerland.
Table of Contents
- What Are the Largest Retail Banks in Switzerland?
- How to Open Accounts With Retail Banks in Switzerland?
- Frequently Asked Switzerland Banking Questions
- Do You Want to Open a Switzerland Bank Account?
What Are the Largest Retail Banks in Switzerland?
The largest retail banks in Switzerland include well-managed and stable financial institutions such as UBS and Julius Baer, with CHF 1.5 trillion and CHF 400 billion in total assets.
These financial institutions cater to various banking clients, offering a wide range of retail banking services and products. Such services include savings accounts, chequing accounts, investment products, attractive financing, and much more.
Depending on your client profile, banking needs, and deposit level, there are additional retail banks in Switzerland worth considering. We share four of these Swiss retail banks below.
Largest Retail Banks in Switzerland
- UBS
- Julius Baer
- Zurcher Kantonalbank
- Raiffeisen
Not all banks in Switzerland, including the largest foreign banks in Switzerland, are created equal. This is especially important to know if you are opening as a foreign non-resident.
It’s important to understand your banking profile and financial needs before applying for an account so you can ensure you are choosing a bank that aligns with your client profile, has requirements you can meet, and offers the services you are after.
Knowing which banks, branches, and bankers to approach, is also an important step to successfully opening bank accounts in Switzerland. We share details on how to open an account with a retail bank in Switzerland in the following section.
How to Open Accounts With Retail Banks in Switzerland?
Opening accounts with retail banks in Switzerland is an easy process as long as you choose the right bank, meet the opening requirements, and have a suitable client profile.
For non-residents, the account opening process requires overcoming strict onboarding procedures, meeting specific requirements, and depositing a significant amount of money.
Most non-residents can expect deposit requirements in the range of USD 500,000 and USD 3,000,000. The exact amount you are expected to deposit depends on the bank, the account type, and your required banking services.
Below is a list of the six common requirements non-resident applicants need to meet to successfully open an account with a retail bank in Switzerland.
Swiss Account Opening Requirements
- Government-issued identification
- Proof of residency
- Proof of address
- Proof of income or source of wealth
- Bank reference letter
- Qualifying deposit
It’s important to directly compare all of the account opening options available to you so you can find the one that will realistically open accounts for you.
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 largest retail banks in Switzerland. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
What Is the Best Private Bank in Switzerland?
The best private bank in Switzerland depends on the applicant looking to open accounts. This is because not all banks in Switzerland accept the same clients, offer the same services, or provide the same level of quality or value. As a result, one private bank in Switzerland may be better suited to one client than another. This is why bank selection is critical when choosing where to open a private bank account in Switzerland.
Which Swiss Bank Is the Best?
The Swiss bank that is the best 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.
What Are the Biggest Banks in Switzerland?
One of the biggest banks in Switzerland is UBS Group AG. UBS Group AG has been in existence since June 1998. It is now the number one leading bank in the world and the largest bank in Switzerland, with total assets surpassing CHF 1.5 trillion.
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!
