Dear investors! You have learned much about the accounts from my previous post (#2), and now you are ready to open one. Which Bank is the best for you? I made my investigation on the topic and will now share the most precious information with you. Make some notes!
In the banking sector in Switzerland, there are more than 200 banks. Each canton (the administrative unit of Switzerland) has its own banking institution. Swiss banks are known for their high level of economic security, as well as minimal financial risks.
To assess the stability of the banking sector the National Bank mainly focuses on major financial institutions: Credit Suisse and UBS, as well as domestic commercial banks. As was also mentioned in post #3 The Swiss Government created the list of “too big to fail” banks that accumulate the most amount of money and are supported by the Government by law.
Currently, this list includes UBS, Credit Suisse, Raiffeisen, PostFinance, and the Zurich Cantonal Bank.
Let’s have a look at the most stable of the most popular banks:
Union Bank of Switzerland
It’s a large financial holding company in Switzerland, with branches in different countries. Today, the bank works with more than 60 European, Asian, African, and Arab countries, and serves more than 3 million private and corporate clients. The bank allows you to manage your own wealth, and assets, arrange cards, mortgages, and not only. On the official website, you can find the bank branch in your country and go to the site where you can find all the necessary information about services.
Many foreign investors and entrepreneurs strive to open an account at UBS Bank, because of the most modern protection system and favorable conditions for asset management.
If you open an account in UBS bank, which is for free itself, you can use free cash withdrawals in UBS ATMs with no limit, online banking, and monthly service fees from 3 CHF to 9 CHF.
Credit Suisse
Credit Suisse Group AG is in second place after UBS Bank among the largest financial conglomerates in Switzerland. The main services are personal and investment banking. There are three packages to choose from that provide everything you need for day-to-day services, as well as a handy app to streamline banking transactions.
An account with Credit Suisse will be the most suitable option for private wealthy individuals as well as large corporations.
Zürcher Kantonalbank
As the 4th largest bank in the country, it has a solid database of customers. The main areas of operation are account management, payment transactions, card issuance, investment business, etc.
PostFinance
One of the country’s leading financial companies with about 3 million clients. The bank allows you to make payments at home and abroad. Here you can get bank cards, and accounts, use e-banking, invest, and apply for loans. Using the application with the same name, the bank’s clients can perform the usual financial operations.
Besides the above-mentioned banks, there are very popular Banks such as Migros Bank (valid only for all residents), and Julius Bank (specialized in providing a wide range of financial services to high net worth individuals as well as corporate clients).
I hope that the banks named will meet your needs and you will find the most suitable one for you! If you have forgotten or do not know how to open an account in Switzerland, read my previous posts here:
