Accounts & Cards
March 13, 2024 - Benjamin Manz
Most Swiss banks charge special non-resident fees to customers who live outside of Switzerland. Get informed about these fees and about affordable Swiss banks for non-residents in this guide.
The majority of Swiss banks add markups to their basic account fees for customers who do not live in either Switzerland or Liechtenstein. That generally also includes the nearly 750,000 Swiss citizens who live abroad.
Banks justify these additional fees by citing the higher administrative and regulatory costs of customer relationships with people living in foreign countries.
On average, Swiss banks charge foreign customers non-resident fees of around 300 francs per year and banking relationship, on top of regular banking fees. But there are sizeable differences between the non-resident fees charged by different Swiss banks. Non-resident fees range between 120 and 720 francs per year, so comparing is worth it.
A good first step is to compare the standard fees of Swiss bank accounts to find the basic costs that apply to all customers, including those in Switzerland. Once you find the cheapest account for your needs, the next step is to check that bank’s additional fees for non-residents.
You can request a free overview of the non-resident fees charged by Swiss banks in PDF format at the foot of this article.
Limitations vary depending on which country you live in
Some Swiss banks have lower non-resident fees for customers who live in Austria, France, Germany, or Italy. Customers living outside of Europe may pay higher fees than those in many European countries.
Some Swiss banks only let you open a bank account as a non-resident if your assets surpass a certain threshold. Some Swiss banks generally do not accept applicants who live outside of Europe – particularly residents of the United States.
The Zürcher Kantonalbank, for example, only accepts customers who reside in European countries. The Thurgauer Kantonalbank limits its non-resident customer base to customers in Austria and Germany. The St. Galler Kantonalbank only accepts customers who live outside of Europe if they are Swiss citizens.
Non-resident fees are waived in some cases
Some Swiss banks waive their non-resident fees for exceptionally good customers, such as those with large account balances or a mortgage. That often applies to asset management customers as well. The terms and conditions for waivers vary between banks.
There are also Swiss banks that waive their non-resident fees for young customers, and for customers who only have rental security deposit accounts, pillar 3a accounts, or vested benefits accounts.
Swiss neobank Yuh is another exception: If you live in Austria, France, Germany, Italy, or Liechtenstein, you can open a Yuh account without any non-resident fees.
Opening a Swiss bank account as a non-resident
Most Swiss banks require you to visit a Swiss branch office in person in order to open a bank account. If you do not live in Switzerland, you will not be able to open accounts online at most Swiss banks. But there are a few exceptions: The banks and neobanks in the table below let you open a Swiss bank account online.
| Bank | Residents of these countries can open accounts online | |
|---|---|---|
| Conventional banks | ||
| CA next bank | France, Germany, Italy | |
| Neobanks | ||
| Coop Finance Plus | Cross-border workers from summer 2024 | |
| Neon | Cross-border workers from summer 2024 | |
| Yapeal | Austria, France, Germany, Italy, Liechtenstein | |
| Yuh | Austria, France, Germany, Italy, Liechtenstein | |
Non-resident fees at UBS
UBS normally charges customers about the age of 20 a non-resident fee of 360 francs per year if they live outside of Switzerland and Liechtenstein. Students and young adults are exempted from this fee. If you live in Austria, France, Germany, or Italy, the fee will be waived as long as at least 500 francs are deposited into your account every month. However, the non-resident fees vary between different UBS divisions, and can be much higher than the standard non-resident fee. For example, UBS Wealth Management charges a non-resident fee of 330 francs per month.
Non-resident fees at Raiffeisen
Non-resident fees at Raiffeisen vary between individual Raiffeisen banks, normally ranging between 240 and 600 francs per year. Some Raiffeisen banks waive their non-resident fees if your total assets at the bank exceed a certain threshold. Because many different banks make up the Raiffeisen group, it is best to inquire directly at your branch office.
Non-resident fees at the Zürcher Kantonalbank
The Zürcher Kantonalbank (ZKB) charges a non-resident fee of 90 francs per quarter, which comes to 360 francs per year.
Non-resident fees at Postfinance
Postfinance charges 25 francs per month per private account or business account. The same fee applies no matter which foreign country you reside in. Important: The fee is charged per account – not per customer relationship. Only accounts designed for financial transactions have this fee. You do not pay additional non-resident fees for savings accounts, pillar 3a accounts, and vested benefits accounts.
Non-resident fees at Migros Bank
Customers of Migros Bank who live in countries bordering Switzerland pay 300 francs per year (60 francs per year if their account balances exceed 7500 francs). Residents of all other countries pay 360 francs per year.
Non-resident fees at Bank Cler
Bank Cler customers who live in foreign countries pay a non-resident fee of 20 francs per month, which comes to 240 francs per year. The non-resident fee is waived if you have a mortgage or a construction loan, or if your assets at the bank exceed 100,000 francs.
You can find the non-resident fees of other Swiss banks in the comparison that you can request using the form below. You will receive the comparison in PDF format by email.
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Bank accounts for foreigners in Switzerland
