How to open a bank account in Switzerland from Ireland

Boasting stunning mountain landscapes, a strong economy, and close ties to the EU, it’s no wonder that people cast their eyes towards Switzerland as a country to live, work, and invest in. In terms of finances, their banking system is somewhat legendary but if you’re thinking about opening a Swiss bank account it’s important to understand your options for managing money across borders.

Let’s run you through the basics of how to open a Swiss bank account from Ireland, focusing on what’s possible as a non-resident. We’ll also introduce you to the Wise Account, an easy way to hold, send, and spend in a range of currencies including Euros and Swiss francs.

Wise: EUR and CHF
in one account 🌏

Can I set up a bank account in Switzerland from Ireland?

The Swiss banking system is quite foreigner friendly and as a non-resident you’re able to set up a bank account there, provided the bank allows it.¹ Generally it’s the major retail banks who have the infrastructure to support accounts for people living abroad, including:

• PostFinance
• UBS
• CIM Bank

The exact process for opening an account depends on the bank but as with most, it involves providing information and documentation about you and your finances.

Whether or not you have to appear in person as part of the process is also up to the bank. Some support online applications and video call meetings, enabling you to open a Swiss bank account without ever leaving Ireland.

Is there a minimum balance required to open a Swiss account?

The requirement for a minimum account balance is also up to the bank so can vary depending on the institution and account type.

As an example, the biggest bank in Switzerland is UBS and for their Personal account they don’t have a minimum required balance.² They do have a monthly account maintenance fee though, which varies based on your balance and whether you choose to have your banking documents delivered electronically or on paper

What documents and requirements to open a bank account in Switzerland as a non-resident?

Switzerland has strong anti-money laundering laws so you can expect to have to provide quite a bit of documentation during the account opening process and have some kind of face to face identity verification, which may be done in person or through a video call.

Here’s an idea of the types of documents you may be asked to provide¹:

• Authenticated copies of your passport
• Income source information such as tax returns or company documents
• Personal information such as residential address and contact details.

Wise Account: Manage Euros and Swiss franc in one account

Managing your finances in a new country can be a challenge, especially if you need a bank account before you even set foot there. If you're searching for a simple way to handle both Swiss francs and Euros from Ireland, the Wise Account could be a great option.

With Wise, you can hold and exchange money in over 40 currencies and get local account details for 8+ of them, including EUR. For other currencies like CHF, you can receive money via the SWIFT system.

When exchanging money Wise is upfront about costs. You get the mid-market exchange rate, the same one you normally find on Google, without any hidden markup. Instead, there’s just a small variable fee that’s always shown before you confirm a transfer, making the whole process transparent.

Once your Wise Account is set up, you can also get a Wise card for spending in 150 countries. You can set up Swiss franc in your account, so when you use it in Switzerland it automatically deducts from your CHF first, and when you’re in Ireland it takes from the EUR. You can spend as a local in multiple countries.

If there isn't enough money in the specific currency, it seamlessly converts from another currency at the mid-market rate, helping you avoid unnecessary fees.

Here’s what else you get with the Wise Account:

• No fees to open or maintain your personal account
• Access to your account via the Wise app or website
• Free virtual cards for mobile payments
• Two free ATM withdrawals of up to 200 EUR each month.³

Open your Wise Account
for free 🚀

What is the benefit of a Swiss bank account?

Swiss bank accounts have some notoriety for their privacy and while that’s an important factor, it’s not the only benefit¹:

• The Swiss economy is considered quite stable and the country has a policy of neutrality, offering some insulation from global events.
• There are national laws requiring banks to maintain high capital and strong protection for depositors. This acts to protect your money when events like a financial crisis or conflict do take place.
• Many banks offer the opportunity to open accounts with currencies other than CHF, for example Euros.
• Legally Swiss banks can’t disclose information about your account without your permission, with the only exceptions being if a government agency states you’re involved in a criminal act or there’s a financial issue like a divorce or bankruptcy procedures.

Sources used:

1. Investopedia - How to Open a Swiss Bank Account and Advantages in Having One
2. UBS - Personal Account
3. Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks.

Sources last checked on date: 17 February 2025