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Banking

There is no best Swiss bank. There is a best combination for your life

A new resident usually needs two things: a bank that makes everyday Switzerland easy, and a financial institution that can handle the complexity of international wealth.

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Contents
  1. Cantonal banks
  2. UBS
  3. Raiffeisen
  4. Digital banks
  5. Private banks
  6. Five questions to ask

Sometimes one bank can do both. Often it is better not to force it.

Cantonal banks

There are 24 cantonal banks. 21 have an unlimited cantonal state guarantee; the Bern, Vaud and Geneva institutions do not have the same unlimited guarantee structure.

For the surrounding context, see Swiss banking hub.

Cantonal banks are strong for local payments, mortgages and a relationship anchored in the canton. International products and cross-border servicing vary.

UBS

After the Credit Suisse takeover, UBS is the country’s sole global-scale Swiss universal bank. It combines retail banking, wealth management, securities, credit, foreign currencies and a global network.

The trade-off is price and scale. A classic UBS current-account relationship costs around CHF 144 a year in 2026, rising to CHF 240 in an international-use configuration. Always check the current price sheet before you rely on a precise fee.

If this decision changes the viability or sequence of your move, a Swiss relocation strategy consultation can apply it to your own facts.

Raiffeisen

Raiffeisen’s cooperative model is highly local. Membership commonly involves a cooperative share and can provide member benefits. It is often an excellent everyday or mortgage bank, while internationally complex portfolios may fit better elsewhere.

For the surrounding context, see opening a Swiss bank account.

Digital banks

They can reduce everyday banking and FX costs dramatically. The limitations are service depth, complex onboarding, mortgages, business relationships and private-banking needs.

Private banks

A private bank becomes interesting when you are buying advice, credit, portfolio management, estate coordination and a relationship, not when you only need an IBAN.

For the surrounding context, see Swiss banking costs.

Five questions to ask

  1. Does the bank accept my nationality and tax residence, especially if I am a US person?
  2. Do I need a mortgage or business bank relationship later?
  3. Which currencies will I receive and spend?
  4. How much cash will sit above CHF 100,000?
  5. Do I want investment advice, or simply custody and execution?

The most resilient answer is often two institutions with different jobs.

Every option above assumes a Swiss address. Without one the comparison that matters is between countries rather than between Swiss banks, and FreedomBanking compares 31 banking jurisdictions open to non-residents.

Contents

Your case is not the standard case.

Which bank will take you, and on what terms, depends on your profile and on when in the move you ask.

Book a Swiss strategy consultation