In this article, we’re exploring Swiss bank account opening charges. We’ll share details on the common supporting documents and Switzerland banking requirements, including the operating fees you can expect when opening a Swiss bank account as a non-resident.
This article is part of our free series on Switzerland account opening requirements. 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 Swiss bank account opening charges.
Table of Contents
- What Are Examples of Swiss Bank Account Opening Charges?
- Frequently Asked Switzerland Banking Questions
- Do You Want to Open a Switzerland Bank Account?
What Are Swiss Bank Account Opening Charges?
Swiss bank account opening charges will depend on the bank you choose to open an account with, the type of account you want to open, and the financial services you intend to use.
Applicants applying to open a bank account in Switzerland will be charged account opening fees. These fees, while they will vary between banks, will range from a few hundred to several thousand Swiss francs.
Individuals looking to open private bank accounts or tap into wealth management services will be charged significantly higher account opening fees.
It’s important to note that Swiss banks will also charge for verification of supporting documents, ongoing account maintenance, transactions, currency exchange, and much more.
Here is a list of the nine most common fees Swiss banks will charge for opening and operating bank accounts in Switzerland as a non-resident.
Expected Swiss Bank Account Opening and Operating Charges
- Compliance and due diligence fees
- Document verification fees
- Minimum initial deposit
- Account maintenance fees
- Private banking fees
- Wealth management fees
- Wire transfer fees
- ATM withdrawal fees
- Credit card fees
Requesting an updated fee schedule of the Swiss bank account opening fees from your chosen bank will be an important factor to consider when applying to open an account. Doing so allows you to make an informed decision on whether or not you are choosing a suitable financial institution that aligns with your banking profile.
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.
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Frequently Asked Switzerland Banking Questions
Below are a few of the most common questions we receive from people exploring Swiss bank account opening fees. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can a US Citizen Open a Swiss Bank Account?
Yes, a US citizen can open a Swiss bank account as long as they choose a suitable bank, meet the opening requirements, and make a sizeable deposit. Not all Swiss banks accept US citizens, and of the ones that do, not all offer remote account opening. Bank selection will be an important factor to consider when choosing where to open a Swiss bank account as a US citizen.
Do Swiss Banks Charge Fees?
Yes, Swiss banks charge fees. The fees will vary between financial institutions, account types, and banking services but often include, account maintenance fees, private banking fees, transaction fees, credit card fees, and ATM withdrawal fees. It’s important to request an updated fee schedule from your chosen bank before applying to open an account.
What Is the Minimum Balance to Open a Bank Account in Switzerland?
The minimum balance to open a bank account in Switzerland will depend on the person applying to open the account, the bank they choose, and the type of financial services they are after. Banking in Switzerland is often reserved for high-net-worth individuals who are willing and able to make sizeable deposits in the range of USD 500,000 to USD 3,000,000.
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.
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!
