Opening a Swiss bank account is often seen as a step toward financial security and international wealth management. However Easy Global Banking, understanding the associated costs is crucial for individuals and businesses planning to access Switzerland's renowned banking system. This guide provides a complete breakdown of the expenses you may encounter when opening a Swiss bank account.

Initial Account Opening Fees

Most Swiss banks charge an initial setup fee to cover administrative and due diligence costs. Depending on the bank and the type of account, this fee can range from CHF 100 to CHF 2,000 or more, especially for private or business accounts requiring extensive documentation.

Minimum Deposit Requirements

Swiss banks often require a minimum deposit to open an account, particularly for private banking clients or investment accounts. Minimum deposits can vary widely:

• Personal Accounts: CHF 5,000–CHF 10,000
• Private Banking Accounts: CHF 500,000 or more
• Business Accounts: CHF 10,000–CHF 50,000

These thresholds depend on the bank and the services offered.

Account Maintenance Fees

Monthly or annual maintenance fees are standard for Swiss bank accounts. These fees cover services such as account management, digital banking access, and customer support. Typical maintenance costs include:

• Standard Accounts: CHF 10–CHF 50 per month
• Private Banking Accounts: CHF 1,000–CHF 5,000 annually

Currency Exchange and Transaction Fees

Swiss bank accounts often support multiple currencies, but exchanging funds or making international transfers may incur additional charges.

• Currency Conversion Fees: Typically 0.5%–1.5% of the transaction amount.
• International Wire Transfer Fees: CHF 10–CHF 50 per transaction, depending on the amount and destination.

Additional Costs to Consider

1. Document Translation and Notarization: For non-residents, documents such as proof of identity and address may need translation or notarization, costing CHF 100–CHF 500.
2. Dormancy Fees: Some banks charge a fee if accounts remain inactive for an extended period.