Salary account Switzerland EU citizien

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  • Benutzernamegregor4
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  • Registriert seit12/22/22
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I am a foreigner (Polish), I work and live in Switzerland. I am looking for a simple, preferably free swiss account to receive salary for work. I don't need any card. Generally, I only need this Swiss account for one transfer per month. I have a Revolut account in Swiss francs to which I want to transfer my salary from another (Swiss) account.

Unfortunately, the employer insisted that I open an account in Switzerland smiley

 
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  • Benutzernameharold
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  • Registriert seit1/24/17
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I recommend the Neon Free account if you will only be receiving your salary and then transferring it out. This account comes with a debit card and you can make local and international transfers. Transactions in euros (transfers and card transactions) are very favorable. You can only open this account via an app. It has no basic account or card fees. The bank behind it is the Hypothekarbank Lenzburg.

If you want a bank with physical branch offices, there are regional banks which offer what they call salary accounts (Lohnkonto). These often do not have a basic account fee, if you deliberately exclude the debit card.

 
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  • Benutzernameozzymac10
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  • Registriert seit7/14/23
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As a foreigner living and working in Switzerland, there are several options you can explore for a simple, preferably free Swiss account to receive your salary

Online Banks: Consider online banks such as Neon, Zak, or Yapeal. These digital banks often offer free basic accounts with no minimum balance requirements. 

Traditional Swiss Banks: While some traditional banks may have account maintenance fees, it's worth checking if they offer basic accounts without extra charges. UBS and Credit Suisse are two prominent Swiss banks that may have options suitable for your needs.

Alternative Banking Services: Services like TransferWise, now known as Wise, provide borderless accounts that allow you to hold and receive funds in multiple currencies. This could be an option to consider, as they offer Swiss IBANs and low-cost currency conversions.

 
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  • Benutzernamesmartfreddy
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  • Registriert seit1/24/17
  • Beiträge29

Wise and Revolut are good for making transfers to other countries or paying by card outside of Switzerland, because they have good exchange rates and low/no foreign transaction fees.

But they are not useful for receiving a salary in Switzerland. You do not get your own Swiss account with your own Swiss IBAN.

Wise and Revolut do have their own Swiss bank account that you can transfer money into to load your account. But you can only transfer to their accounts from a bank account in your name, and you need to provide an identification code as a reference/note. So they cannot be used as a Swiss salary account because your employer cannot deposit your salary through Wise's and Revolut's Swiss bank accounts.

You may find a Swiss employer that is willing to transfer to a foreign account (your Wise or Revolut account), but then it's an international transaction, with the costs and currency exchanges that come with that.

I recommend you open a free Swiss private account. In addition to Neobanks, there are also conventional Swiss banks that offer those. Then open a separate account with Wise. Transfer money from your Swiss bank account to Wise's Swiss bank account to load your Wise account. Then transfer the money to Poland or whichever other country using Wise. This setup will give you everything you need.