Opening a Swiss bank account is one of the first things you'll want to sort out — virtually all employers require a Swiss IBAN (starting with "CH") to pay your salary, and you'll need it for rent, utilities, and health insurance premiums. The good news: it's genuinely straightforward, especially if you go the digital route. Register at your commune first, though — most banks require proof of Swiss address.
Fintech options (fastest to open)
Neon and Yuh are app-based Swiss bank accounts you can open entirely from your phone — no branch visit, no paperwork. You'll need a B or C residence permit and a Swiss address. Scan your ID, do a quick video selfie for identity verification, and you're typically up and running the same day. Neon is the most popular choice among English-speaking expats because its app is fully in English. The free tier charges CHF 2.50 per ATM withdrawal; paid plans (from CHF 5/month) include free withdrawals and better foreign currency exchange rates. Yuh (backed by Swissquote) offers a free account with a built-in investing feature — great if you want a secondary account for savings or investing alongside your main account. Both are real Swiss banks with deposit protection up to CHF 100,000 via esisuisse.
Cantonal banks (Kantonalbanken)
Here's something most expats don't know about: Switzerland has 24 cantonal banks, one for almost every canton, and most come with an unlimited state guarantee — meaning your deposits are backed by the canton itself, not just the standard CHF 100,000 insurance. ZKB (Zürcher Kantonalbank) in Zurich and BCGE (Banque Cantonale de Genève) in Geneva are the big ones for expats. Cantonal banks offer a good middle ground between fintechs and the big private banks: reasonable fees, solid English support in cities, and a strong local presence with plenty of branches and ATMs. Many expats use a cantonal bank as their main salary account.
PostFinance
PostFinance is owned by Swiss Post and is one of Switzerland's largest retail banks, with around 2.5 million customers. It has a massive network — every post office in the country doubles as a PostFinance branch. The basic account costs about CHF 5/month, the website and app are available in English, and you can open an account online. It's a solid, no-surprises choice for everyday banking.
Big private banks
UBS is the largest bank in Switzerland (it absorbed Credit Suisse in 2023). Raiffeisen is a cooperative bank with strong local roots. Both are established names, but they're more expensive — UBS charges CHF 8–13/month for its basic package. They're worth considering if you need services like mortgage advice, business accounts, or a personal banking relationship. For simple salary-in, bills-out banking, a fintech or cantonal bank does the job at a fraction of the cost.
What you'll need to open an account
Every bank will ask for: - A valid passport or national ID card - Proof of Swiss address — your commune registration certificate (Anmeldebestätigung) works best, or a signed rental contract - Your work contract or other proof of income - Your residence permit (or confirmation that it's being processed) For digital banks, you'll go through a quick video identification process. For traditional banks, bring the originals to your appointment.
Practical tips
Don't overthink this — you can always switch later. Many expats open a Neon account to get their IBAN quickly for their employer, then take their time deciding whether they also want a cantonal bank or PostFinance. For international transfers (sending money to or from your home country), Wise is popular alongside your Swiss bank account — their exchange rates and fees are much lower than traditional banks. Note that Wise doesn't provide a Swiss IBAN, so it's a complement, not a replacement. One thing to be aware of: Switzerland participates in Automatic Exchange of Information (AEOI) with over 100 countries, meaning your Swiss bank will report your account details to your home country's tax authority. This is standard and nothing to worry about — just make sure you're declaring everything properly on both sides.