A list of banks in Switzerland

Planning a move to Switzerland? Whether you’re going there to study, work or visit family, you might find it useful to open a Swiss bank account.

But which bank is the right one for you? To help you decide, we’ve put together a list of banks in Switzerland. This includes some of the biggest and most popular retail banks, along with info on the different accounts available.

Remember though, a bank isn’t the only way to manage your money internationally.

Open a Wise multi-currency account online and you can manage your money in 50 currencies, including Swiss Francs (CHF). You’ll benefit from low fees and fair exchange rates on all transactions.

But first, let’s take a brief look at how banking works in Switzerland.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Banking in Switzerland (an overview)

The banking system in Switzerland is made up of over 250 banks, and multiple fintech companies.¹ Banks and financial services are a major contributor to the Swiss economy, so there’s lots of choice.

There are a handful of major high street banks, with branches throughout the country. These tend to open between 8am and 5pm, Monday to Friday, and many have multilingual staff on hand to help.¹

To open a bank account in Switzerland, you’ll need to have your ID and other documents ready. This will include your ID, proof of address and proof of residency (unless you’re applying for an overseas account.¹

Accounts with Swiss banks do tend to come with some fees. This includes monthly admin fees of around 5-15 CHF, and annual debit card fees of between 20-50 CHF.¹

You’ll also be charged if you use your Swiss debit card outside of the country, as well as for making international transfers from your Swiss bank account.¹

To avoid these expensive fees, consider using an alternative such as the Wise multi-currency account and debit card. It’s ideal for international transactions, and could save you a bundle.

Top banks in Switzerland

Now, let’s take a look at some of your options when it comes to choosing a bank in Switzerland.

Many of the banks in Switzerland are private banks, aimed at high net worth clients and offering wealth management and investment services. Here, we’ll be focusing on high street, retail or international banks offering everyday banking services in Switzerland.

Bank name²	Operational HQ
UBS	Zürich
Credit Suisse	Zürich
Raiffeisen (co-operative bank)	St. Gallen
Migros Bank AG	Zürich
PostFinance	Bern
Zürcher Kantonalbank (Zurich Cantonal Bank)	Zürich
Banque Cantonale de Genève (BCGE)	Geneva
Banque Cantonale Vaudoise (BCV)	Lausanne
Luzerner Kantonalbank	Lucerne
Basler Kantonalbank	Basel

UBS

Established more than 160 years ago, the UBS Group is the biggest bank in Switzerland and one of the largest private banks in the world.

However, it also offers a number of everyday banking services, including accounts, banking packages and credit cards.

Popular options include the UBS personal account and current account, along with the UBS Me banking package. This lets you choose which products and services you need, as part of a tailored package.

UBS also offers savings, investments and pensions, along with wealth management services.

Credit Suisse

Although Credit Suisse recently collapsed and is in the midst of a takeover by UBS,³ it is still operating as a retail bank. It’s the country’s second-largest bank, with a wide-reaching international presence.

For personal customers, Credit Suisse offers a choice of accounts and cards. This includes CSX, an all-in-one account and card package. There’s also dedicated accounts for children and young people, such as the Viva Kids and CSX Young accounts.

Credit Suisse also offers credit cards, savings, mortgages, investments, pensions and financial planning services.

Raiffeisen (co-operative bank)

One of the many cooperative banks operating across Europe, Raiffeisen (Switzerland) is a cooperative of cooperatives. With branches across Switzerland, it has become one of the country’s most popular banks.

Raiffeisen offers a full choice of accounts, credit cards, savings solutions and banking packages. This includes the Membership, Club and YoungMemberPlus package (for people aged 12 to 26). It also offers a private account, and has its own payments app - Raiffeisen TWINT.

Migros Bank AG

Founded in 1958, Migros Bank is part of the Federation of Migros Cooperatives (MGB) and is known for its customer-first approach.

The bank offers a choice of everyday and savings accounts, including its popular Private Account. There’s also a dedicated account for young people under 25, and an interest-earning savings account.

Migros Bank can also help you with mortgages, investments and loans, as well as providing financial services for businesses.

PostFinance

One of the leading financial institutions in Switzerland, PostFinance is a subsidiary of Swiss Post Ltd and has a history going back around 100 years.

It offers a wide range of accounts, packages and cards, and even has a product recommendation tool to help you find the right solution for you.

Its accounts include a private account in CHF (also available in EUR or foreign currency) and a savings account. PostFinance also offers Smart and SmartPlus banking packages, along with dedicated youth and student accounts.

Zürcher Kantonalbank (Zurich Cantonal Bank)

This is one of the largest of the many cantonal banks in Switzerland. These are government-owned banks which only offer accounts to residents of the Swiss canton (region) they operate in. So essentially, they’re local banks.

Zurich Cantonal Bank offers basic and premium banking packages, along with dedicated products for young people such as its ZKB Young and ZKB Student packages.

The bank also offers mortgage, real estate, pension and investment services,

Banque Cantonale de Genève (BCGE)

With accounts available only to residents of Geneva, BCGE caters to both personal and business customers.

It offers online and mobile banking, through which you can manage accounts such as the BCGE Private Account. The bank also has a Duo package, consisting of both a debit and credit card.

Banque Cantonale Vaudoise (BCV)

Based in Lausanne and providing services to residents of the Vaud canton, BCV has a full range of products for personal and business customers.

This includes its Direct, Classic and Premium banking packages, along with dedicated solutions for families. For young people, there are accounts available for every age group, ranging from children to students.

Luzerner Kantonalbank

Serving the Swiss canton of Lucerne, Luzerner Kantonalbank offers a number of everyday accounts, cards and other financial services.

Popular accounts include its Private Account, and Private Account Blu for young people up to 26 years old. There’s also a Savings Account available, alongside investment accounts and fund savings plans.

Basler Kantonalbank

Basler Kantonalbank serves the canton of Basel-Stadt, with products available for businesses and personal customers.

There’s a huge range of accounts, cards and packages to choose from. This includes the Classic and Comfort banking packages, Private Account and Education-Plus Account for people in training aged 26-30.

There are also dedicated youth and children’s accounts available at Basler Kantonalbank.

Top online bank accounts in Switzerland

Along with traditional banks, Switzerland also has a number of digital banks to choose from. This includes:

• Neon. A Swiss-based mobile money app, Neon offers a choice of free and pay monthly plans. This includes the carbon-neutral ‘Green’ account for 5 CHF a month, which comes with a sustainable wooden card and trees planted for card spending.⁴
• Revolut. The app-based Revolut offers a choice of monthly plans, including a free Standard plan. All include a debit card and basic banking services, with more perks and features added the more you pay for your monthly plan.
• N26. N26 offers an app-based current account and a choice of monthly plans. This includes a free Standard plan which comes with a virtual card.

Manage your money internationally? Check out the Wise multi-currency account

If you want to send money overseas or use your card when you travel, you could find it expensive with a Swiss bank account.

Luckily, there’s a money-saving alternative available. Open a Wise multi-currency account and you can send money worldwide for low fees and fair exchange rates.

You can even get an international debit card for spending in 175 countries, including Switzerland. It automatically converts your money to CHF at the mid-market exchange rate, whenever you spend.

This makes it ideal for travellers, expats, overseas students and anyone else living an international life.

Join Wise today

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

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Sources used:

1. Expatica - Banking in Switzerland
2. Wall Street Mojo - Top banks in Switzerland
3. BBC News - UK banking system 'safe' after Credit Suisse rescue
4. Neon - Compare accounts

Sources last checked on date: 17-Apr-2023