Personal Finance Bank accounts

Can I keep my Swiss bank account when I leave Switzerland?

Gert Svaiko

10.01.25

Read time 2 minutes

If you’re a UK expat living in Switzerland but you’re planning to move abroad, you’ll need to get your finances in order before you go.

A key question is whether or not you keep your Swiss bank account open when you move abroad - or if you’re even allowed to.

In this handy guide, we’ll run through all the info you need to know on whether you can keep a Swiss account once you leave the country.

And if you’re looking for a cost-effective way to manage your money across borders then check out the Wise account from the money services provider Wise. It’s an international alternative to a bank account that lets you manage your money in currencies including British pounds, Swiss francs, euros and more.

Learn more about the Wise account 💰

Can I keep my Swiss bank account after leaving Switzerland?

Yes, you can keep your Swiss bank account open when moving abroad.¹ However, it really does depend on which bank you have an account with.

Some Swiss banks will let you keep the account open under certain conditions, such as:

Having a mortgage or other financial products with the bank
Receiving a Swiss pension
Moving to a neighbouring country or a particular EU/EEA country.

Others will require you to close your account.

If you are able to keep your account, it’s important to note that many Swiss banks charge extra fees to non-residents. These fees differ between banks, but you can expect to pay around 360 CHF a year.²

If you’d rather close the account and avoid these fees, just make sure to arrange a money transfer for any remaining balance to a new account first.

And if you’re worried about no longer having a way to send and receive Swiss francs (CHF), remember that there are alternatives to banks available.

💡 Read more: The best UK bank accounts for travelling and travel insurance

How to manage your Swiss bank account from abroad

If you’re registered for online banking (and mobile banking too, if available), you should be able to manage your Swiss account remotely in much the same way as when you were living in the country.

Just make sure you give the bank your new overseas address, so you can receive statements and other important documents in the post.

You’ll also need to keep enough of a balance in the account to cover any fees. Swiss bank accounts tend to have a small monthly fee, and then there are those non-resident customer fees we discussed earlier.

Alternatives to keeping a Swiss bank account

If you’ve decided to close your Swiss bank account and start afresh in your new country, you’ll need to open a local bank account there.

But there are alternative options available too. You could see if your Swiss bank operates in the country you’re moving to, or if it can offer you an international bank account. If you’re already familiar with the bank and its products, you might find it a smoother transition rather than starting a new relationship with an unfamiliar bank.

You could also look into digital banks, money apps and money services providers such as Wise, Revolut and N26. All are set up to work internationally and let you do everything using just your smartphone.

Wise account – an alternative to a bank account

If you want a truly international account that works pretty much anywhere, check out the Wise account. It's not a bank account but offers some similar features and your money is always safeguarded.

You can open a Wise account online and start managing your money in multiple major currencies, including GBP, EUR, CHF and many more. When sending money internationally or converting currency, you’ll only pay a low, transparent fee* while also getting the mid-market exchange rate every time.

You can also get the Wise card to spend in currencies from the moment you arrive. It works in countries and automatically converts your pounds to the local currency whenever you spend, only adding a tiny, upfront currency conversion fee – or it’s free if you already have the currency in your Wise account.

Here’s an overview of the main benefits for using Wise:
Fast and easy setup with no physical paperwork Dedicated support for large transfers Sophisticated security and anti-fraud measures Low, upfront, transparent fees* and the mid-market exchange rates Fully trackable transfers Fast transfer times Two-factor authentication and real-time notifications

Sources used:

Moneyland - Leaving Switzerland: Important Financial Questions Answered
Moneyland - Swiss Bank Fees for Non-Residents Explained

Sources last checked on date: 19-Dec-2024

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.