Relocating to Switzerland: how to plan your finances

There’s a lot to organize if you decide to move to Switzerland: finding somewhere to live, getting a job and sorting out the necessary insurance. Opening a Swiss bank account is one of the most important first steps to take to make sure you can manage your finances smoothly and get off to a good start in Switzerland. This account will serve as the basis for receiving your salary and paying the rent, bills and everyday expenses.

Think ahead: Do you need an account just for yourself, or for your family as well? Would you generally prefer to make digital payments, or would you also like to use cash? Which cards and digital solutions would work best for your daily life? You will find everything a lot easier with a bank that combines digital simplicity and personalized advice – especially when you first arrive.

Tip: Start off with one account and card. You can add more products or services later on to fit your needs.

Depending on your requirements, there are various different types of accounts available. The important thing is to choose an account that suits your residency status, your income and your current situation in life.

Here are three standard types of account that will help you to manage your finances in Switzerland easily and efficiently. 

Personal account

A personal account is your main account for receiving your salary and pensions, paying bills and making transfers, as well as withdrawing cash in Switzerland and abroad. At UBS, you automatically get access to modern card and payment solutions – either in Swiss francs or as a personal account EUR for payment transactions in euros.

This will allow you to manage your daily banking transactions easily, securely and reliably.

Savings account

A savings account is the perfect complement to a personal account and offers an easy way to build up savings. Whether for unexpected events, major investments or personal goals: regular saving provides stability and security.

That’s why personal accounts and savings accounts are the most common types of accounts.

Current account

A current account is a good option if you process payments in several different currencies. It’s ideal for large transactions in Swiss francs, euros, US dollars or British pounds, as well as for international payment and securities transactions.

Opening a bank account in Switzerland is relatively simple. At most banks, it can be done either online or in person at a branch. You will need to have the necessary documents ready, such as your identity document, proof of residence and residence permit. If you’re unsure which documents are required, we recommend making an appointment in advance at your chosen branch.

Appointment with a client advisor

A personal consultation can help you to find the right account. Our advisors will let you know in advance what documents (e.g. your identity document, proof of residence and residence permit) you’ll need and how to prepare.

Opening an account via app

You can also open your account digitally – quickly and flexibly, without having to schedule an appointment. At UBS, you can open an account in just three steps.

Step 1

Download the UBS Mobile Banking App. 

Step 2

Confirm your identity. You will need to have your ID card or passport ready. Your identity will then be verified via selfie or video call.

Step 3

Open the UBS Access App and use it to log in to your new account.

Even after opening an account, you may still find it useful to speak to us in person so that you can take advantage of all the services available for new account. We will be happy to advise you.

Even though cash is still accepted in many places in Switzerland – and is even required in some cases –, the Swiss Payment Monitor 2/2025 (in German) reveals a clear trend: Only about a third of payments in Switzerland are still made in cash. The vast majority of transactions now take place via card and mobile payments. 

Nowadays, it is very difficult to handle everyday banking transactions in Switzerland without a card or a mobile solution. Do you already know which type of card is best for you?

UBS Debit Card

Cashless payments using cards or smartphones are now an integral part of everyday life in Switzerland. According to the Swiss Payment Monitor, the debit card is the most popular payment method in terms of the total number of transactions.

This is hardly surprising, given the many benefits that come with a debit card: flexibility, efficiency and low costs make the UBS Debit Card the perfect everyday companion.

UBS Credit Cards

Credit cards offer a combination of flexibility and security – two key benefits in everyday life. Unlike payments by debit card, payments by credit card are not debited directly from your account; instead, you make purchases on credit. Depending on the provider, you pay your credit card bill at the end of each month.

UBS Credit Cards are particularly appealing to expats because they offer such easy integration into the Swiss banking system, and include travel insurance and access to the UBS KeyClub bonus program. The UBS Credit Card is directly linked to your UBS account and the UBS Mobile Banking App. This makes it easier to open an account and allows you to block cards, adjust limits and make online payments – all in one place. You can also keep a constant overview: you can easily view the payments you’ve made and refunds you’ve received in Mobile Banking.

Paying bills isn’t usually much fun. That’s why it’s so important for payment transactions to be simple, efficient, secure and reliable.

Paying bills with QR payment slips

QR-bills are the current standard in Swiss payment transactions. They contain all the information needed for a payment in the form of a scannable QR code. This QR code can easily be scanned using online banking or a banking app.

QR payment slips help reduce the likelihood of errors in bank transfers. They also save paper and help you to process payments faster and more efficiently.

eBill: electronic invoices

With eBill, you receive bills directly in your Digital Banking app – where you can check, approve and pay them in just a few clicks. eBill is now the established digital invoice standard in Switzerland.

Standing orders

Standing orders are ideal for regular payments such as rent, health insurance premiums or leasing installments. Once they have been set up, they are carried out automatically but can be adjusted as needed.

UBS Digital Banking lets you do much more than just manage your banking transactions anytime, anywhere. Your data is all stored in a single central location. Every transaction is automatically recorded in UBS Digital Banking and can be viewed at any time.

E-Banking

With online banking at UBS, you can make transfers, pay bills and manage your accounts conveniently from your computer – securely and easily. UBS continuously invests in state-of-the-art security technologies to provide the best possible protection for your financial transactions.

Mobile Banking

Everything under control, wherever you are: with the UBS Mobile Banking App, you can make payments, check bills and keep track of your account movements and debits from your UBS Debit and Credit Cards – easily and securely.