How to Open a Swiss Bank Account: The Ultimate 2025 Guide

Switzerland has been the epitome of financial reliability for centuries. While transparency laws have undergone major changes in the past decades, you can still get the best of Swiss banks: top-notch services, bulletproof asset protection, and investment options you will not find anywhere else. 

The question is, is it worth opening a bank account with Swiss banks for non-residents or expats? In reality, this can be one of the smartest moves you can make to preserve your wealth and gain global financial success. But the process can seem complex unless you have expert guidance.

We’ll talk about the benefits of Swiss banks, legal compliance, compare some top Swiss banks, and explain how to set up an account with our full support and expertise.

Key Takeaways:

• Opening a Swiss bank account as a non-resident, including US citizens, is legal and possible, but compliance with due diligence is essential.
• “Secret accounts” no longer exist. Present-day Swiss banking is all about transparency, so it adheres to AEOI and FATCA rules. But, there is still more privacy than in many other jurisdictions. 
• The process includes choosing the right bank, collecting documentation, and meeting minimum balance requirements.
• We handle everything for you, ensuring your account opening journey is smooth, legal, and efficient.

Why Open a Swiss Bank Account? Key Benefits

A bank account in Switzerland will make you part of a trusted financial system that boasts innovation and reliability. The country is rightfully considered one of the most prominent banking hubs globally, thanks to its unparalleled services and strong client protection. Local banks are ideally suited for managing personal wealth or international business.

Accounts with Swiss banks are popular for the following reasons:

• Unmatched Political & Economic Stability: The Swiss franc is one of the world’s most stable currencies, and Swiss banks are globally trusted.
• Privacy & Discretion: Although absolute secrecy is gone, Swiss banks still offer robust data protection, strict confidentiality policies, and a banking culture rooted in professionalism.
• Asset Protection: Swiss accounts shield your assets from political uncertainty, unstable currencies, and financial risks in your home jurisdiction.
• Investment Services: Swiss banks offer access to a wide variety of assets, including crypto, hedge funds, ESG investments, and multi-currency accounts. You benefit from world-class portfolio management and personalized strategies.
• Global Banking Access: With a Swiss bank account, you can transact worldwide with speed, confidence, and favorable exchange options.

Swiss bank accounts will help you preserve your wealth and invest globally while providing world-class services you are sure to appreciate.

Is Swiss Banking Right for You?

Swiss banking isn’t a fit for everyone. The benefits are substantial: privacy, stability, personalized investment advice, and serious wealth protection. But these come with minimum deposit requirements that reflect the cost of doing things properly in Switzerland.

For many private banks, the starting point is CHF 500,000. For asset management accounts, especially if you’re a US client, expect to need CHF 1–2 million. That’s not because you need to be ultra-wealthy—but because regulatory compliance, due diligence, and personalized service cost real money. Below that range, the experience may not be as smooth—or as worthwhile.

Can smaller deposits or minimums work? Yes. In some cases, we’ve helped clients open accounts in these situations. But these are exceptions—not the rule—and they work because we’ve spent years building relationships. 

But here’s the upside: when you meet the minimums, the value is real. You’ll have access to world-class portfolio strategies, direct contact with seasoned bankers, crypto integration (if you want it), and an international base of financial operations that is second to none.

If you’re serious about protecting your wealth and building a long-term financial structure, this is where you want to be. Otherwise, you may wish to contact us for other options that fit your goals and requirements. 

The Legality of Swiss Banking: Myths vs. Reality

Swiss banking has long had the shroud of secrecy and exclusivity about it. But what does that really mean in the era of dominant transparency?

Let’s see what is legal and how Swiss banks really operate in 2025.

Is It Legal for Foreigners & US Citizens?

Absolutely. Anyone, including US citizens, can open a Swiss bank account as long as they meet compliance standards. The idea that Americans cannot open accounts is a myth. However, due to FATCA rules, many Swiss banks are more selective. That’s where we come in: we know which banks accept US clients and how to stay compliant.

Can You Still “Hide Money” in Switzerland?

No, and you shouldn’t try. The era of anonymous Swiss bank accounts is over, and this is not a reason to open a bank account there. Switzerland now participates in major international transparency initiatives such as the Common Reporting Standard (CRS) and the US Foreign Account Tax Compliance Act (FATCA). Under these agreements, banks are required to share account details with foreign tax authorities. This makes it nearly impossible to hide undisclosed wealth.

Moreover, there is no point in trying to hide money. Present-day Swiss banks offer world-class financial services, providing you with legal bulletproof asset protection and as much privacy as is lawful. Personal services and elite investment opportunities are still accessible, and you don’t need to risk any compliance issues. Secrecy is no longer the center of attention, but strategy is, and we will help you with that.

How to Open a Swiss Bank Account: A Step-by-Step Process

Do you have to jump through many administrative hoops when opening a Swiss bank account? With our help, you will not notice them. Here are the steps to take to open an account:

Step 1: Research & Choose the Right Swiss Bank

We help you identify the best bank based on your nationality, goals, and the type of account you need, and what accounts the bank can offer—whether personal, investment, or business. Among the options:

• SYZ Bank: For crypto integration and flexible investing.
• Swissquote: Perfect for digital users and trading.
• Julius Baer or J. Safra Sarasin: Top-tier private banking.
• CIM Banque: Great for global entrepreneurs.

Step 2: Understand Eligibility & Gather Required Documents

Swiss banks have strong compliance rules. You’ll typically need:

• A valid passport
• Recent proof of address (e.g., utility bill)
• Source of funds (salary slips, sale agreements, dividends, etc.)
• Tax Identification Number (TIN)
• Application forms (we’ll fill them in for you)

Our experts guide you in collecting and submitting these documents. We also provide pre-checks to ensure everything is acceptable.

Step 3: Complete the Application & KYC Process

Swiss banks follow anti-money laundering rules and detailed KYC checks. Once your forms and documents are ready, we submit them to the bank and arrange the next steps regarding opening the bank account.

Reality Check on Online Opening

While Swiss banks offer remote onboarding, few offer fully online applications. Instead, expect a certified video call, notarized documents, or a compliance interview. We coordinate all of this for you.

Step 4: Meet the Minimum Deposit Requirement

Swiss banks require a minimum deposit and a minimum balance to maintain accounts. It is often considerably high, meaning it is only worth it if you have a high level of money to invest and store, but, as we already explained, the level of security, privacy, and service is exception. Examples:

• SYZ Bank & Swissquote: CHF 500,000 deposit
• Julius Baer: Often starts at CHF 1 million

Some banks offer lower requirements, especially for digital accounts, although sometimes the level of service and opportunities decrease. We’ll strive to match you with a bank that suits your profile.

Step 5: Finalize and Fund Your Account

Once your application is approved, you’ll receive instructions to transfer your funds, and you will have officially opened a Swiss bank account. We’ll assist with all formalities.

Understanding the Costs and Timelines

Swiss banking is not cheap, but it’s worth it, as you pay for quality, security, international opportunities, and privacy. Here’s what to expect:

• Annual account maintenance fees: Vary by bank and account type.
• Transaction fees: Charged per wire or foreign exchange transaction.
• Custody fees: Applicable for investment accounts.

Timelines range from 2 to 8 weeks from submission of the application, depending on your documents, profile, and the bank selected.

Special Considerations for US Citizens

Swiss banking is available to potential clients from the United States, but it comes with some extra steps. Because of US tax laws, Swiss banks must take additional precautions when working with US citizens, and thus, some banks do not work with US citizens. These regulations don’t make it impossible to open a bank account in Switzerland as an American, but they do require careful planning and full transparency.

FATCA Compliance is Non-Negotiable

The Foreign Account Tax Compliance Act (FATCA) requires Swiss banks to report U.S.-held accounts to the IRS. We’ll help you meet all FATCA standards to avoid penalties.

FBAR Reporting Requirements

US citizens with foreign accounts over $10,000 must file the FBAR (Foreign Bank Account Report), even if the funds remain untouched. Non-compliance can result in substantial penalties, both civil and criminal. We work closely with tax professionals to help you navigate FBAR rules smoothly and ensure you stay on the right side of IRS requirements.

U.S. persons (citizens and residents) with foreign financial accounts totaling more than $10,000 at any time during the year are mandated to file an FBAR (FinCEN Form 114), even if no income is generated or the funds remain untouched. Failure to comply can result in serious civil penalties up to $10,000 per violation for non-willful outbreaks and much more severe civil or criminal exposure for willful violations. Our team collaborates with tax professionals to guide you through FBAR requirements accurately and avoid potential IRS enforcement.”

Best Swiss Banks for Non-Residents & Expats

Choosing the right bank can be overwhelming, as each bank can offer different benefits that fit certain requirements better than others. We help you compare with the following chart:

Bank Name	Best For	Minimum Deposit (Est.)	Remote Opening	Key Feature
SYZ Bank	Crypto + Classic Investments	CHF 500,000	Yes	Private banking with digital asset integration
Swissquote	Trading & Digital Services	CHF 500,000	Yes	Leading Swiss digital bank
CIM Banque	Global Entrepreneurs	CHF 10,000	Yes	Business-friendly onboarding
Julius Baer	High-Net-Worth Individuals	CHF 1 million	Case-by-case	Discretion & global presence
J. Safra Sarasin	Wealth & Legacy Planning	CHF 1 million+	Case-by-case	Sustainability + stability
Pictet, Gonet, BCGE	Wealth Management & Stability	CHF 500,000+	Case-by-case	Boutique & personalized services

Note: “Best” is subjective. These are typical estimates; there may be variations for deposits (higher or lower) and opening requirements, depending on your circumstances and changes from the banks. Our experts help you choose based on your goals and will explain what you can expect.

Get Expert Help Opening Your Swiss Bank Account

Opening a Swiss bank account is much easier (and much safer) when you have the right experts by your side. Swiss banks are selective, and requirements can vary dramatically depending on your nationality, the type of account, and your source of funds. Our job is to take the stress and guesswork out of the process so you can focus on your financial goals while we handle everything behind the scenes.

We work directly with leading Swiss banks and know their onboarding procedures inside out. Whether you’re aiming for a multi-currency trading account with Swissquote or a high-end private banking relationship with SYZ, Julius Baer, or J. Safra Sarasin, we match you with the institution that fits you best.

Here’s what our full-service support includes:

• Bank selection based on your needs and profile
• Pre-approval checks to avoid rejections
• Help with collecting and reviewing all required documents
• Guidance through compliance procedures and due diligence
• Coordination of remote onboarding and interviews
• Submission, follow-up, and finalization of your account

We also liaise with banks directly to ensure the fastest possible timelines and clear communication at every step.

Ready to open your account? Let our team help you today.

Schedule your free consultation now!

Frequently Asked Questions