Which Swiss Bank for foreigners not living in Switzerland?

Which Swiss bank allows opening bank account for foreigners not living permanently in Switzerland?

Some of my family members living in Poland would like to deposit Swiss Francs in Switzerland.

Have anybody gone through the procedure of opening such bank about with relatives or friends?

Unless they’re HNWI or UHNWI I’m not sure it’s worth it/easy.

First you’d need the bank to accept you as a customer (they don’t have to, the more money you bring/fees you’re going to pay the more likely they will accept tho), and then most banks charge pretty hefty fee for foreign residents.

Maybe taking a step back, what are they trying to achieve?

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Yes, you can open a bank account as a foreigner, but as @nabalzbhf writes, there are quite high fees (easily CHF 30 per month).

Why not opening an CHF account with Revolut/Wise and store the Swiss Francs there?

Thank you. They want to open an account in Switzerland for geographical diversification in case Russia goes further.

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Just checked four banks, Poland will definitely be on the white list.

ZKB: https://www.zkb.ch/media/zkb/dokumente/legal/preisuebersichten/preisuebersicht-konditionen-privatkunden.pdf (page 12)

Migros Bank: Migros Bank GebĂĽhren fĂĽr Privatkunden - Migros Bank

Berner Kantonalbank: https://www.bekb.ch/-/media/bekb/portal/documents/preisuebersicht-chf.pdf?vs=26&sc_lang=de&hash=38FB973BC8FA81B2F9669C022D7084D8 (page 26)

Liechtensteinische Landesbank (LLB): Privatkonto - das Konto fĂĽr alle | LLB

In case your relatives are not ready to pay these fees, it could make sense to continue with another provider, e.g. Wise. Converting PLN to CHF could be a first step, afterwards one could open an account in CH or LI.

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Swissquote?

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Postfinance 25chf/m as well

Try Swissquote. They do accept residents of many countries, and do not charge extra non-resident fees. But if you want the account to be “in Switzerland” you would have to make sure they give you an account at the Swiss Swissquote bank, and not their Luxembourg subsidiary.

This does not seem to justify wanting to converting cash from EUR to CHF though? Unless the expectation is for the EUR to crash overall

Your captain reports: the currency of Poland is Polish złoty.

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At fees of Fr 30 per month and interest of 0.1% next years (if you’re lucky), breakeven is Fr 360’000. :cry: If you can’t get back the WHT it’s 500’000.

But ja, I understand breakeven/cost is secondary, the reason is safety in crisis.

Nevertheless , another (cheaper) solution would be you open a safety deposit box at your bank for them (Fr 80 p.a. gets you there), and bundle nice crisp CHF notes in sealed envelopes for them. Be sure to label them nicely in case you should pass.

Or stack little physical gold bars (100g, 250g).

One could even say this is more crisis-resistant than the CH bank account.

Ah, 20th century solutions for 21st century problems.

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Wouldn’t that solution mean that our colleague would need to take CHF notes/metals with them across the border, declare them appropriately etc, then deposit them (in their name) to a safety deposit box in CH? Feels more complicated/less safe than a person from PL wiring money to CH.

Also, irrelevant, CHF80/year for a deposit box?! In Greece it’s EUR300/year!

Edit: scetchy politics in your country or outside of it is a problem from the time we lived in caves :wink:

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Be aware, that the deposit box is insured only to a certain value.

Also with @Mirager : taking bank notes or gold across multiple borders is not very wise.

OP’s relatives should see the CHF 30 p.m. for a Swiss bank account as an insurance premium.

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More irrelevance, sorry OP, I thought safety deposit boxes cannot be insured because by design, people don’t tell what’s in them :wink:

But regardless, I’d imagine that robbing a bank is not really possible…though…watch The Bank Job, great film, real story, it’s a film with Jason Statham, without being what came to be known as a Jason Statham Film.

You have to check for the so called „Haftungsobergrenze“ in the contract for a safe. In case something happens, the bank is liable for normally up to CHF 50k. If you want to deposit more, I would insure it (e.g. through your household insurance).

This may be helpful to watch for OP: https://www.youtube.com/watch?v=0Q-Y-r75FOM. They mentioned there Dukascopy, which seems to be a Swiss bank…I’ve heard for the first time about :wink: .

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