Depends on your definition of an emergency fund:
20 CHF on my current account - a day or two’s worth of food? (I even had to dip into it, this month).
A credit card?
For yearly expenses, I have a standing order that transfers 1/12 of the budgeted yearly total to (kind of) a savings account each month. As I’m paying my health insurance at the end of the year and into my 3rd pillar at the beginning of the next year, this “savings” account will fill up over the course of the year. Strictly speaking these funds are budgeted, so not an emergency fund, I suppose? But I could postpone my third pillar contribution if anything unexpected came up.
If, on the other hand, something happened in January or February, right after I emptied that account, I may be screwed? 