Banking in Switzerland as a Brit

Your Swiss employer will want a Swiss account for your salary, and your landlord will want the rent from one. Opening it is mostly straightforward once you're registered; the trickier part is keeping the UK side ticking over.

The short version

Open a Swiss account after you've registered at your Kreisbüro or Gemeinde. Banks want your passport, your residence permit (or proof it's on the way) and a Swiss address.
Expect questions about where your money comes from. Swiss banks take anti-money-laundering rules seriously, and a UK house sale or inheritance needs paperwork.
Swiss deposits are protected up to CHF 100,000 (about £91,100) per client per bank by the esisuisse scheme [1]. That's a different figure from the UK's FSCS limit.
Keep at least one UK current account for UK income, direct debits and your credit file. Some UK banks restrict accounts for customers living abroad, so ask yours before you go.
Your UK State Pension can be paid into a Swiss or UK account; payments to a Swiss account are converted with a 0.39% charge [5].

Choosing a Swiss bank

Zurich is the home of big-name banking, but for everyday money most residents choose between four kinds of bank:

Type	Examples	Good for
Big bank	UBS	Branches everywhere, English-language service, mortgages and investments under one roof
Cantonal bank	Zürcher Kantonalbank	A local, public-law institution of the canton of Zurich [2]; strong on mortgages and 3a accounts
PostFinance	PostFinance	Postal bank with counters across the country
Digital banks and app-based accounts	Several Swiss and foreign providers	Low fees, quick set-up, card spending abroad

The differences that matter day to day are monthly account fees, card fees abroad and what you pay to send money to the UK. Swiss banks often charge a monthly package fee that's waived above a certain balance or with a salary paid in. That's a culture shock for anyone used to free banking back home in Blighty, so compare the price lists before signing.

You'll also meet Twint, the Swiss payment app used for splitting bills, paying at market stalls and settling up for the Sunday football. It links to a Swiss account, which is another reason to open one early.

Opening an account: what to bring

Every bank sets its own list, but expect to show:

Your passport.
Your Swiss residence permit, or the confirmation from the Kreisbüro or Gemeinde that you've registered and your permit is being issued. Our guide to registering with the Gemeinde explains that step.
Proof of your Swiss address, usually your tenancy agreement or the registration confirmation.
Your employment contract or a recent payslip, especially if you want a credit card.
Your tax residence and tax number. Under the international rules on exchanging account information, the bank will ask where you're tax resident. If you're still UK resident in your first months, say so honestly; it's normal in a move year. Your UK National Insurance number may be asked for as a UK tax reference.

Many banks now let you open an account by app with video identification, though some want you to come into a branch if your permit hasn't arrived. If you've been in Switzerland only a few weeks, a bank that accepts the registration confirmation saves a lot of waiting.

Source of funds. Bringing in a large sum, from the sale of a house in Hertfordshire, for example, will prompt questions. Have the completion statement, solicitor's letter or bank statements ready. It's not personal; it's how Swiss banks keep FINMA, the financial regulator, happy.

A Swiss credit card usually needs a few months of salary history. Until then, a debit card and Twint will get you through.

Keeping your money safe

The Swiss deposit protection scheme, esisuisse, protects client deposits up to CHF 100,000 per client and per bank if a bank fails [1]. All banks with a branch in Switzerland must be members [1]. Two things to know:

The limit is per bank, not per brand, so check which legal entity holds your money. esisuisse says the scheme protects balances up to CHF 100,000 per client and per legal entity [1].
FinTech institutions are different. esisuisse warns that if a FinTech institution goes bust, client assets are "neither privileged nor subject to deposit protection" [1]. Check what licence any app-based provider holds before you park your savings there.

esisuisse also publishes warnings about firms falsely claiming to be authorised Swiss banks [1]. If you're offered a "Swiss private bank account" by cold call or social media, assume it's a scam until proven otherwise.

Keeping your UK account alongside

Keep at least one UK current account. You'll want it for:

UK income: rent from a UK flat, a UK pension, dividends.
UK bills: a mortgage, insurance, a phone contract or subscriptions you're keeping.
Your UK credit file, which helps if you ever come home. See your UK credit file while you're away.

Some UK banks limit what they offer customers living abroad, or close accounts when they learn you've moved. Ask your bank about its policy before you go, update your address honestly, and keep a UK correspondence address and mobile number if you can. Our guides to keeping a UK bank account when you live abroad and keeping a UK mobile number and address go into detail.

Tax on UK interest. Once you're non-resident, UK savings interest may still be UK income [3], and as a Swiss resident you must also declare it, and the balance, on your Swiss return if you're in ordinary assessment. Switzerland taxes wealth, so your UK savings count. The UK and Switzerland have a double taxation agreement to stop you paying twice [4].

Moving money from the UK

The pound-to-franc rate moves every day, and the gap between the rate you're quoted and the mid-market rate is where most of the cost hides.

Compare the total cost. Look at the exchange rate margin as well as the fee. A "free" transfer with a poor rate can cost more than one with a fee.
Use IBANs. Swiss accounts use IBANs beginning CH; UK transfers to Switzerland go via the international payments system, not Faster Payments.
Big sums. For a house deposit or school fees, ask your bank about larger transfers and make sure the receiving Swiss bank is expecting the money and has your source-of-funds paperwork.
Regular transfers. If you're moving money monthly to pay a UK mortgage, a standing arrangement saves time.

Our guide to sending money between the UK and abroad explains the options without recommending any firm.

Your State Pension. You can have it paid into a Swiss account in francs or a UK account in pounds, every 4 or 13 weeks. Payments into an overseas account are converted with a 0.39% conversion charge [5].

Pillar 3a and your bank. Swiss banks and insurers also run Pillar 3a accounts, the tax-deductible pension savings plan [6]. See our guide to Pillar 2 and Pillar 3a.

Which bank's app is least painful is a perennial debate in our community group for Brits in Switzerland, along with how long the permit took and how to split a pub bill by Twint.

Pound conversions use the Bank of England spot rate of 5 November 2026 (£1 = CHF 1.0976). Banks named here are examples, not recommendations. If a UK firm offers you investments or "expat banking" from abroad, check it on the FCA Register and Warning List first [7].

Banking in Switzerland as a Brit: opening an account, keeping your UK one and moving money