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  • Economy

Swiss banks and the Swiss Abroad


Since 2008, Swiss nationals living abroad have been experiencing difficulties opening and maintaining bank accounts in Switzerland. Some have even been shown the door by banks with whom they have always had a business relationship. A number of institutions allow banking relationships to exist, but impose different fees for those living in Switzerland from those living abroad. Some require a minimum account balance. To get an overview of all the policies applied by financial institutions with regard to customers living outside Switzerland, the Organisation of the Swiss Abroad (OSA)carried out a survey.

These indications reflect the situation at the time of the survey and may be subject to change by the institutions surveyed. The institutions surveyed stated that their policies are not related to the nationality of their customers but to where they are resident. They all require that customers present themselves in person to open an account in Switzerland, with the exception of Swissquote, which instead requires various documents to be presented. A declaration of tax compliance, possibly including proof that the funds in question have been declared, is generally required by all institutions. There are sometimes additional requirements for opening an account such as links or regular stays within the bank’s area of operations. A table showing more detailed results is available on the Organisation of the Swiss Abroad’s website. > Consultation > Living abroad > banks