Open a Bank Account in Switzerland

Swiss banking is legendary, but the days of numbered anonymous accounts are long gone. Compliance is brutal.

• The Catch-22: To get an apartment, you need a Swiss bank account. To get a Swiss bank account, you need a residence permit. To get a residence permit, you need an apartment.
• The Solution: Most expats start with a borderless account like Neon or Yuh, or use UBS, which has a specific onboarding package for new arrivals holding an employment contract before they secure an apartment.
• The "American Problem": Due to FATCA, many Swiss cantonal banks (ZKB, BCV) will flat-out refuse US citizens. You will be forced to use UBS or Credit Suisse, and you must sign extensive waivers allowing them to report your balances to the IRS.