Switzerland is known for many things, chocolates and banks being some of them. As we live in the 21st century, it’s almost impossible to imagine a world without banks. They’re a significant part of people’s lives, countries’ behaviors, and international organizations’ relations. Swiss banks are some of the most famous worldwide, and for good reasons: they have great features, special offers, and relatively affordable prices.

Best Banks in Switzerland

Compiling a list of the best banks in Switzerland is quite a complicated task; they’re all outstanding. However, we have listed some which stand above the rest in what they bring to the table, so grab a bar of tasty Swiss chocolate and enjoy learning about the best banks in Switzerland. 

UBS Group AG

UBS Group AG was founded in 1998 after merging the Union Bank of Switzerland with the Swiss Bank Corporation. The company mainly advises and recommends products for private clients, wealth management, corporate clients, and institutions. UBS’ headquarters are in Zurich, while seven offices are spread worldwide. 

The bank offers many features with its banking packages, including personal accounts, savings accounts, credit cards, debit cards, digital banking, bonus programs, and other additional products. Maintenance fees start from CHF 5 per month with free cash withdrawals in UBS ATMs for a personal account. UBS’ net income for 2021 was CHF 6.419B. 

Julius Baer

Julius Baer, founded in 1890, is a banking group with headquarters in Zurich and over 20 locations worldwide. The bank helps its corporate clients with wealth management, accumulation, and preservation. Their focus is on investment advice and expertise, ensuring the client achieves their goals and objectives. Since this bank is an investment bank, it offers services and products mostly to immensely wealthy clients.

Raiffeisen Switzerland

Raiffeisen is one of the largest Swiss banks with around 3.6 million customers and 1.9 million cooperative members. There are 823 Raiffeisen locations in Switzerland, offering their clients individual advice on pensions, homeownership, investment, and insurance solutions. 

The bank has plenty of products and services to make their customers’ lives easier. These include payments and savings accounts, e-banking, memberships, insurance, and bonuses. Opening a private account is free of charge; however, annual fees are CHF 60. Raiffeisen Switzerland had a 2020 net income of CHF 763 million

Banque Cantonale de Genève (BCGE)

banque-cantonal-geneve (1)

The BCGE is the cantonal bank of Geneva and was founded in 1861. It has 21 branches in the region and assists individuals, companies, and institutions. From day-to-day banking activities to mortgage financing, business loans, and financial management, the BCGE aims to do everything it can to relieve its customers’ financial worries.

Some of the services and products BCGE offers its clients are daily management, savings, e-banking, and the Youth Portal. Opening a personal bank account is free of charge, while the annual maintenance fee is CHF 36. BCGE’s net income for 2020 was CHF 105 million.

Credit Suisse Group AG

Credit Suisse is one of the safest Swiss banks and has branches in 50 countries worldwide. It was founded in 1856, and its headquarters are in Zurich. The company deals with private clients, corporates, and institutions on investment banking, accounts, mortgages, and savings. 

If you’re asking yourself which Swiss bank is best for foreigners, this one could be it. Credit Suisse offers its customers three different packages: Bonviva Silver, Gold, and Platinum, within which you have debit cards, credit cards, savings accounts, private accounts, and insurance. Opening a personal bank account is free of charge, with annual management fees being CHF 60. Credit Suisse’s net income for 2021 was CHF 2.6 billion. 

EFG International

EFG International is an investment bank founded in 1995. Its headquarters are in Zurich, and it has 40 branches worldwide. EFG operates in private banking, wealth management, asset management, and investment solutions. 

Some of EFG’s services include cards, current accounts for banking activities, accounts in foreign currencies, foreign exchange, investment in precious metals, and trading services. 

EFG International’s prices and fees are much higher than other banks due to it being an investment bank. Personal accounts are free of charge; however, annual maintenance goes up to CHF 2400. 

Bank J. Safra Sarasin

J. Safra Sarasin, founded in 1841, is a private bank focused on investment. Its primary aim is investment advisory and asset management for individual and institutional clients. Its headquarters are in Basel, with 25 locations around the world. 

The bank offers numerous services to its clients: wealth management, pension funds, investment funds, trading, and e-banking. J. Safra Sarasin’s bank account ownership also comes with high fees, with the minimum balance being 1 million US dollars. 

Zurich Cantonal Bank

zurich-cantonal-bankThe Zurich Cantonal Bank (ZKB) was founded in 1870 and is one of the largest Swiss banks. The company deals with investor relations, private banking, commercial banking, and asset management while also having institutional clients. Although its headquarters are in Zurich, the bank also operates nationally and internationally. 

Some of the Zurich Cantonal Bank services include investment strategies, real estate advice, and financial advice and support in all matters. Opening a ZKB bank account is free of charge, and annual maintenance fees are CHF 12. ZKB’s net income for 2021 was CHF 942 million. 

Basler Kantonalbank

Basel’s Cantonal Bank (BKB), founded in 1899, has around 50 branches spread across Switzerland. The bank deals with private and business customers, focusing mainly on mortgages, investments, loans, start-ups, trading, and business consulting.

Bank packages range from Classic, Comfort, and Premium while offering discounts to young people and students. Opening an account with BKB is free of charge, with monthly maintenance costs ranging from CHF 1 to CHF 5, depending on membership type. Some of the services BKB offers to its clients include financial planning and inheritance advice. BKB’s net profit for 2021 was CHF 110.6 million. 

Migros Bank AG

Migros Bank was founded in 1958 and manages 67 locations in Switzerland. Migros works with individual customers and companies, focusing on mortgages, loans, stock exchange, corporate finance, and real estate services. 

Migros offers plenty of services to its clients, mainly e-banking, pension funds, residence advice, financial advice, and car financing. Opening a private account with Migros is free, with CHF 36 annual maintenance payments. Migros’ profit for 2020 was CHF 1.7 billion. 


vontobel-bankVontobel is an investment bank with headquarters in Zurich. With branches in 21 locations worldwide, Vontobel’s attention is on asset management, wealth management, and digital investing. 

The bank works with private customers and corporations. It offers services that range from investment strategies, extensive financial planning, pension solutions, and digital access to portfolios and products. 

Because this bank deals mainly with higher-income individuals and institutions, the annual maintenance fee is CHF 2,320. Vontobel’s profit before taxes in 2020 was CHF 321 million

Luzerner Kantonalbank

Luzerner Kantonalbank (LUKB), founded in 1850, is another significant cantonal bank in Switzerland. Like other Switzerland banks, LUKB also works with private customers and institutions. Its services include cash management, payment transactions for companies, pension funds, inheritance advice, and e-banking. 

Opening an account with LUKB is free of charge, with monthly maintenance payments from CHF 2 to CHF 3, depending on your total balance. In 2021, LUKB had a net profit after taxes of CHF 246.4 million.

How To Choose a Bank?

how-to-choose-your-bankYour financial activity is one of the essential parts of your life. Because everybody uses their money and treats their finances differently, bank choices also differ from person to person. To choose a bank, you have to look at its features, base prices, feature prices, security, and access to services. 

The features of the bank

Bank features are quite a crucial criteria to fulfill. Some essential bank features are:

  • Convenient branch locations
  • Convenient ATM locations
  • Good customer service
  • E-banking
  • Withdrawal of cash
  • Transfer of money

The Base Price

Base prices of bank accounts are the first thing that attracts or discourages clients. In Switzerland, most banks do not charge for opening a bank account; however, they could have minimal balance rules with which you have to be careful. 

As for maintenance fees, annual payments usually have to be made unless you have a certain balance in your account. For example, if you have more than CHF 5,000 in your account, you won’t have to pay the monthly management fee. 

The price of features

To choose the right bank, you’re going to need to look at the prices of its features. First of all, you’ll need a free debit card with your bank account. After that, you need the lowest possible costs for transferring money and paying your bills. You’ll also need to look out for e-banking and cash withdrawal fees.

The security

No matter how much money you keep in your bank account, you’ll want to keep it safe. Luckily, all banks in Switzerland, including the ones in this article, are insured up to CHF 100,000. Any money lost up to that point is covered, so you should be fine.  

Access to services

As for service access, most people prefer a bank with locations and ATMs inside or near their neighborhoods. Another critical part of this criteria is e-banking. Having a bank that supports online access makes everything much easier, and you won’t have to get out of your house to complete payments. 

Bottom Line

We’ve gone through Switzerland’s largest, safest, most significant banks, and you’ve probably finished your chocolate by now. So, to sum it all up, Swiss banks are some of the best in the world, and their success impacts the whole country. And no matter which one of these banks you choose, rest assured knowing you’ve made the right decision.

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