What are the conditions and steps involved in opening a bank account in Switzerland?

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Some basic requirements

The conditions for opening a bank account in Switzerland as a foreign student may vary depending on the bank. However, here are some basic requirements that are generally necessary to open a bank account in Switzerland as a foreign student:

  • Valid ID: You will need to provide valid ID such as a passport or national identity card to prove your identity.
  • Proof of residence in Switzerland: You will need to provide proof of your address in Switzerland. This could be a utility bill or proof of residence from your educational establishment.
  • Proof of enrolment at a university or educational establishment in Switzerland: You will need to provide proof that you are enrolled at an educational establishment in Switzerland, such as a letter of admission or a student card.

It is important to note that some banks may require additional documents such as a bank reference from your home country or proof of income. It is advisable to check with the bank for specific requirements before opening a bank account.

Choosing the right bank: a few recommendations

Here are some of the most suitable banks for foreign students in Switzerland:

  1. All cantonal banks. For example: 
    1. BCV for Vaud, https://www.bcv.ch/fr/home/jeunes/produits/gestion-courante/formule-campus.html 
    2. BCGE for Geneva, https://www.bcge.ch/fr/jeunes 
    3. BCVS for Valais, https://www.bcvs.ch/prives/comptes-cartes/conto-pack/pack-formation 
  2. UBS: UBS offers a bank account for foreign students with a free debit card and online banking services. They also have multilingual customer service. https://www.ubs.com/ch/fr/private/accounts-and-cards/bundles/students.html?gclid=CjwKCAjw04yjBhApEiwAJcvNoSgnxs_sE6l58pOdatDfBLBFq5YzEdzuTJ-kQLTVglNlTjoOTQ3a_hoCqrAQAvD_BwE&ef_id=CjwKCAjw04yjBhApEiwAJcvNoSgnxs_sE6l58pOdatDfBLBFq5YzEdzuTJ-kQLTVglNlTjoOTQ3a_hoCqrAQAvD_BwE:G:s&s_kwcid=AL!355!3!653040206612!p!!g!!compte%20%C3%A9tudiant!19554902555!146244316258&campID=SEM-KEY4_BANKINGSTUDENTEN_PHRASE_STUDENTENKONTO_GENERIC_LEADS-CH-FRA-GOOGLE-PHRASE_STUDENTENKONTO-RSA-compte%20%C3%A9tudiant-p-c_19554902555_146244316258_653040206612_kwd-335619694457

  3. PostFinance: PostFinance offers a free bank account for foreign students with a free debit card and low transaction fees. They also have a mobile application for account management.
    https://www.postfinance.ch/fr/particuliers/besoins/bienvenue/package-bancaire/packages-bancaires-pour-jeunes-et-etudiants.html

Raiffeisen: Raiffeisen offers a bank account for foreign students with low fees and online banking. They also have multilingual customer service.
https://www.raiffeisen.ch/rch/fr/privatkunden/youngmemberplus.html?s_kwcid=AL!6209!3!570706031967!p!!g!!compte%20bancaire%20pour%20les%20jeunes&gclid=CjwKCAjw04yjBhApEiwAJcvNobg-e6WCdtOZtCD_hHDlrUDKNQwbVFsVZXhNWwWRItzdZO5dzWgLXBoCS4MQAvD_BwE

The benefits and fees of bank accounts for foreign students can vary depending on the bank. It is advisable to compare the offers of different banks and check the specific requirements before choosing a bank to open a bank account as a foreign student in Switzerland. 

You should also be aware that all online banks, such as Revolute or NEON (https://www.neon-free.ch/fr/), also work very well in Switzerland.

 

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