How to open a bank account in Liechtenstein from the UK? [2022]

Gert Svaiko

17.08.22

4 minute read

Considering a move to Liechtenstein? One of the first things you’ll need is a Liechtenstein bank account. Read on for everything you need to know, including the documents you’ll need and the best Liechtenstein banks for expats.

Boasting sprawling mountain vistas, historic sites and plenty of room for outdoor sports, this tiny Germanic country has lots to offer to UK expats. This includes fabulous cuisine, friendly people, a rich culture, quality healthcare and a strong economy. It also has good job prospects, especially in its thriving financial services sector.

If you’re planning to work, study or travel to Liechtenstein, check out the Wise Multi-Currency account. With Wise, you can convert British pounds effortlessly into Swiss franks or euros at a fair exchange rate and manage your money between the UK and Liechtenstein – and in 50+ currencies around the world.

Learn more about the Wise Multi-Currency account

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.

What’s the currency used in Liechtenstein?

The official currency of Liechtenstein is the Swiss franc (CHF). However, the euro (EUR) is also accepted across the country.¹

Which documents do I need for opening a bank account in Liechtenstein?

The exact documents you’ll need to open an account in Liechtenstein will vary from bank to bank, and by your desired account type. But here’s what most banks will ask to see:²

Valid passport
Proof of address - such as a recent utility bill
Contact details

Can a non-resident from the UK open a bank account?

You don’t need to be living in Liechtenstein, or a citizen of the country, to open a bank account there. Many banks, such as Bank Frick³ and Liechtensteinischen Landesbank (LLB)⁴, offer accounts and services to non-residents.

However, you might find your account options limited as a non-resident. The application process may also be a little more complicated, requiring higher deposits or more documentation.

So, you’ll need to do a little research to find out what your options are as a foreign citizen living outside Liechtenstein.

Can I open an account from abroad?

A number of Liechtenstein banks offer the option to open an account online, or at least start the process. This includes Bank Frick³, which offers an online application and onboarding service for new customers.

However, there are some restrictions depending on where you live. For example, at Liechtensteinische Landesbank, you can only use the online application process (including video ID verification) if you live in Liechtenstein, Switzerland, Austria or Germany.⁴

So for UK residents, this means that you’ll need to call up the bank to open the Liechtenstein bank account and then visit a branch in person with your identity documents.

Banks in Liechtenstein – which one should I choose?

As it’s such a small country, there are only 15 private banks in Liechtenstein.⁵ Similarly to banks in Switzerland, many specialize in private banking, investment and wealth management.

This can make things a little tricky for expats moving to Liechtenstein, especially if you’re looking for an everyday current account. Many accounts are targeted towards high wealth individuals, so require large initial deposits and minimum account balances.

However, there are some retail banks in Liechtenstein that offer everyday current accounts. Here’s a bit of information about each.

To manage your money with ease between the UK and Liechtenstein, check out Wise. With Wise Multi-Currency account, you can send and convert money from GBP to CHF or EUR at a fair exchange rate – the mid-market exchange rate.

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.

Liechtensteinischen Landesbank (LLB)

Founded in 1861⁵, Liechtensteinischen Landesbank (LLB) is one of the largest and oldest banks in the country. Its headquarters are in Vaduz, and the bank has branches in Balzers, Eschen along with 19 ATMs⁶ around the country.

LLB offers a number of retail banking products, including a private, current, youth and student account. There are also combi-banking packages available. Features include online and mobile banking, a debit card, and a choice of currencies.

Fees⁷	Current account	Private account	Student account
Quarterly account balancing fee	8 CHF/£6.97*	8 CHF/£6.97*	Free
ATM charges	Free at LLB ATMs 2-5 CHF/£1.74-£4.35* for withdrawals abroad	Free at LLB ATMs 2-5 CHF/£1.74-£4.35* for withdrawals abroad	Free at LLB ATMs 2-5 CHF/£1.74-£4.35* for withdrawals abroad
Debit cards	50 CHF/£43.52* a year	50 CHF/£43.52* a year	Free
International transfers	10 CHF/£8.70* - payments up to 15,000 CHF/£13,055* 20 CHF/£17.42* - payments of 15,000+ CHF/£13,055+*	10 CHF/£8.70* - payments up to 15,000 CHF/£13,055* 20 CHF/£17.42* - payments of 15,000+ CHF/£13,055+*	10 CHF/£8.70* - payments up to 15,000 CHF/£13,055* 20 CHF/£17.42* - payments of 15,000+ CHF/£13,055+*

*1 CHF = 0.8703 GBP (16-08-2022)

Bank Frick

A family-run private bank established in 1998, Bank Frick is headquartered in Balzers but also has a branch in London, UK.⁸

It specialises in private banking, asset management, investment advisory services, and estate management. However, it does offer a Private Basic Bundle for day-to-day banking. This includes a current account (in a choice of currencies), online banking access and a personal advisor.⁹

Private Basic Bundle	Fees¹⁰
Quarterly account maintenance fee	50 CHF/£43.52*
ATM charges	Free in CHF at ATMs in Liechtenstein 2-3.50 CHF/£1.74-3.05* for other currencies and withdrawals abroad
Debit cards	50 CHF/£43.52* a year
International transfers	5 CHF/£4.35* for payments of up to 5,000 CHF/£4,352* 10 CHF/£8.71* for payments of 5,000+ CHF/£4,352*

*1 CHF = 0.8703 GBP (16-08-2022)

VP Bank

Founded in Vaduz in 1956¹¹, VP Bank has grown into an international banking group with a presence in Switzerland, Luxembourg, Singapore and Hong Kong.

VP Bank offers private banking alongside specialized asset management and investment advisory services. For personal customers, there’s a choice of three banking packages - Basic, Comfort and Premium. The first two are restricted to people living in Liechtenstein, while the Premium package can be opened by anyone.¹²

Each package comes with personal, foreign currency and savings accounts, online banking, debit cards and a number of other perks.

Fees¹³	Basic	Comfort	Premium
Monthly account fee	10 CHF/£8.70*	15 CHF/£13.06*	50 CHF/£43.52*
ATM charges	Free for VP Bank ATMs and CHF withdrawals 5 CHF/£4.35* for EUR withdrawals and overseas ATMs	Free for VP Bank ATMs and CHF withdrawals 5 CHF/£4.35* for EUR withdrawals and overseas ATMs	Free for VP Bank ATMs and CHF withdrawals 5 CHF/£4.35* for EUR withdrawals and overseas ATMs
Debit cards	40 CHF/£34.81* a year	40 CHF/£34.81* a year	40 CHF/£34.81* a year
International transfers	Free for CHF and EUR in EU payments 8 CHF/£6.96* for other currencies + fixed fees for third-party charges	Free for CHF and EUR in EU payments 8 CHF/£6.96* for other currencies + fixed fees for third-party charges	Free for CHF and EUR in EU payments 8 CHF/£6.96* for other currencies + fixed fees for third-party charges

*1 CHF = 0.8703 GBP (16-08-2022)

If you’re planning a move to Liechtenstein, you’ll find that the country’s banking sector is open to expats and foreign citizens. However, many accounts and services are aimed at high wealth clients, so it could be tricky to find an ordinary bank account that suits your needs.

Still, there are some options for you to open an account in Liechtenstein or check out Wise and manage your money across borders with ease and convenience.

Sources used:

Sources last checked on date: 17-Aug-2022

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.