Switzerland has the reputation of a rich and highly developed country. However, this does not mean that there is no need for temporary workers. On the contrary, the Swiss job market is insatiable with lower and middle level workers. If you take up a temporary job in Switzerland, you will need to visit the bank shortly after your arrival. How to open a bank account in Switzerland?
Staying in Switzerland – what is worth remembering?
First of all, we must remember that Switzerland is not a member of the European Union, but belongs to the Schengen area. This means that entry to this country is not subjected to additional formalities. Staying for up to 3 months is possible on the basis of a passport or ID card.
However, if the purpose of going to Switzerland is to work for more than 90 days, we must obtain the appropriate permit. The employer applies to the Cantonal Office for a permit. Only after approval by the office, the employee may apply for a work visa.
Work / entry visa
After receiving the above-mentioned permit, you must apply for a work visa.
Such applications are processed at the nearby Swiss Embassy.
To the application, attached must be:
- work permit in Switzerland
- original and a copy of a valid passport
- photos
- visa fee – about EUR 57
Citizens of the European Union should have no problem with obtaining a similar work permit (and later a visa), it is only a formality.
In addition, immediately after arrival (up to a maximum of 14 days), it will be necessary to find an apartment and make a registration.
Check How to obtain French citizenship?
Working in Switzerland – conditions, earnings
In Switzerland there is no fixed national minimum wage. Everything is regulated individually with the employer. The amount of remuneration consists of, among others: experience, position, job, place of work (canton) or knowledge of the language. As for the last one, there are 3 official languages in the country:
- German
- French
- Italian
The vast majority of residents – approx. 70% – speak German. Therefore, knowledge of the German language will significantly facilitate your job searching and increase the chance of getting better earnings.
The average hourly rate in Switzerland ranges from CHF 30-40 gross (EUR 31-41).
Monthly average in Switzerland
| Position | The amount of monthly salary |
| Waiter / Waitress | CHF 3100 / EUR 3178 |
| Cleaning lady | CHF 3500 / EUR 3589 |
| Builder’s assistant | CHF 3800 / EUR 3896 |
| Mechanic | CHF 4400 / EUR 4511 |
| Plumber | CHF 4900 / EUR 5024 |
| Electrician | CHF 4700 / EUR 4819 |
| Truck driver | CHF 4100 / EUR 4204 |
| Welder | CHF 5600 / EUR 5742 |
| Bricklayer | CHF 5500 / EUR 5639 |
| Guardian/carer of the elderly people | CHF 6000 / EUR 6152 |
| Construction manager | CHF 6300 / EUR 6460 |
| Doctor | CHF 13 000 / EUR 13 329 |
| Financial analyst | CHF 8200 / EUR 8408 |
Fixed cost of living in Switzerland
Assuming that the person works and lives permanently in Switzerland, the following monthly expenses can be identified:
- Renting an apartment – on average, about CHF 1300-1500 (about EUR 1333-1538). This is the amount we will pay for a studio or a small 2-room apartment.
- Serafe – CHF 335 (about EUR 343) per year. It is a compulsory radio and television subscription. Regardless of whether in the apartment there is a TV or radio, we have to pay.
- Tax – on average around CHF 850 (around EUR 872). The amount may vary due to the different canton’s tax percentages (ranging from 4.5% in Zug to 16% in Neuchâtel).
- Health insurance – approx. CHF 330 (EUR 338). Every resident should have health insurance, regardless of whether he is working or not.
- Sim card, Internet – for the cheapest package (8 GB) we will pay about CHF 20 (about EUR 21). Additionally, you have to pay CHF 20 for activating the sim card (one-time payment).
- Swiss Half Fare Card – CHF 120 per month (EUR 123). This ticket entitles you to a 50% discount on all types of public transport.
Bank account in Switzerland – how to open it?
Before we get into the details of setting up an account in a Swiss bank, it is worth answering the key question: why is it worth setting up an account in a foreign workplace at all?
Quite often, employees make the same mistake by not opening a foreign bank account. What a pity! First of all, it is a significant inconvenience for the employer (accounting department). Secondly, for international transfers, an additional fee must be paid, and the processing time is about 2-3 days. Immediate transfers are made via external applications, services for which must also be paid.
In conclusion, the lack of a local account is completely unprofitable for the employer. What’s more, people without such an account may not be taken into account at all in the next stages of recruitment.
Remember! Opening an account in a foreign bank is only a formality that will facilitate your staying in the country, and will also improve all payroll processes at the place of employment.
How to open an account in Switzerland in 2022?
The process of opening a bank account in Switzerland is practically no different from opening an account at a Polish bank. Usually, we start with online registration and then a visit to the bank to verify the data (although in some banks data verification also takes place online, but there are also banks that oblige you to visit them directly).
The account will be automatically opened in Swiss francs, but some banks offer an additional option to withdraw funds in EUR.
| Service | Sample fees |
| Account management | CHF 5-20 / month (EUR 5-21) |
| Credit card | CHF 50-200 / year (EUR 51-206) |
| Cash withdrawal at other ATMs | CHF 2-4 / one-time fee (EUR 2-4) |
| Cash withdrawal abroad | CHF 5-10 / one-time fee (EUR 5-10) |
Who can open an account with a Swiss bank?
An account in a Swiss bank can be opened by a Swiss citizen and its resident (i.e. a person holding a residence permit type B and C).
Important! Non-residents of Switzerland also have the option of opening a bank account in Switzerland, but this involves making a high deposit (the amount is determined individually in the selected bank, sometimes we are talking about hundreds of thousands or even millions of francs). Apart from that, additional fees may apply when maintaining the account, and in turn, the range of services is quite limited.
Bank account in Switzerland – necessary documents
It is necessary to present a document that confirms our legal stay in Switzerland. Apart from that, you must attach:
- completed application (online or offline)
- employment contract
- statement of earnings
- lease agreement + registration
- Swiss contact number (needed to activate the account)
A bank account is opened immediately after data verification (often within one day). However, the waiting period for a bank card is about a week. Added to this is the shipping time to the home address.
Does a bailiff from a foreign country have access to a bank account in Switzerland?
Yes. Due to the agreement between Switzerland and EU countries, it is possible to provide bank details of foreign debtors. The more so, as Switzerland is very strict in this respect; in-depth customer verification is the order of the day at every Swiss bank.
Swiss banks – list
Below is an example of a list of the most popular Swiss banks. However, we recommend that you read the offer of each bank immediately after arrival / ask residents which bank they recommend and only then make the final decision.
- https://www.neon-free.ch/en/
- https://www.postfinance.ch/en/private.html
- https://www.ubs.com/global/en.html
- https://www.group.pictet/
- https://www.dreyfusbank.ch/en/about-us
- https://www.reichmuthco.ch/
- https://hyposwiss.ch/en/
Remember! Not in all banks there is a possibility for a foreigner to open an account.
