Swiss private banks require large deposits, but neobanks like Neon and Yuh open remotely. What non-residents can open, documents needed, and CRS notes.
Foreigners can bank in Switzerland through two routes. Traditional private and retail banks such as UBS and PostFinance usually demand a high minimum deposit and an in-person or video identification, with strict non-resident scrutiny. Digital banks neon and Yuh open online with just a passport and proof of address, no minimum balance — the realistic option for most non-residents and travelers.
Swiss private banks are renowned for custody and cross-border wealth management, but minimum deposits typically start at CHF 250k–1M and require a source-of-funds explanation and compliance questionnaire. They suit clients with substantial assets who need multi-currency custody and trust structures, not ordinary account openers.
neon is a Swiss neobank that opens remotely for EU/EEA passport holders, offering a Swiss IBAN, a free debit card, and Apple Pay. Yuh, a joint venture of PostFinance and Swissquote, adds stocks, crypto, and multi-currency wallets. Both are covered by Swiss deposit insurance (esisuisse, up to CHF 100k).
Neobanks typically need only a valid passport, proof of address within 3 months (utility or bank statement), and a phone number. Traditional banks additionally require a tax-residency declaration and occupation/income source. All non-Swiss tax residents are subject to CRS exchange.
Switzerland joined CRS in 2017; non-resident account data is exchanged with the account holder’s tax-residency country. Declare your tax residency truthfully at opening to avoid freezes or penalties. Switzerland has no capital-gains tax for private investors, though banks withhold some interest tax.
Yes. Neobanks neon and Yuh accept non-residents; traditional private banks do too, but with high deposit and compliance bars.
Yes, esisuisse covers up to CHF 100k per customer per bank, including neobanks and traditional banks.
Yes. Under CRS, non-resident account data is exchanged with your tax-residency country. Declare accurately at opening.