Having a Swiss bank account is useful for anyone living in Switzerland, and in many cases it is an absolute necessity. That is also true for refugees – especially if you want to work in Switzerland. But as a person with refugee status, you may find yourself unable to open accounts at some Swiss banks. Here, moneyland.ch explains the factors which play a role in opening a Swiss bank account as a refugee.
Which refugee permit you have will affect your ability to open accounts at many Swiss banks. If you are a refugee and do not have permanent residence in Switzerland (C permit), you will have one of the following permits:
- B permit: recognized refugee
- F permit: Temporarily admitted refugee
- N permit: Asylum seeker whose application for asylum is being processed.
- S permit: Vulnerable person
Holding a B permit gives you the highest chances of being able to open an account at most banks. In many cases, you have to visit a branch office in person and present both your refugee permit, and your passport. While you may be able to open a bank account with a debit card, you typically cannot get a credit card or a prepaid credit card. However, the Debit Mastercard and Visa Debit cards issued by Swiss banks can be used for both in-store and online payments.
The terms and conditions for refugees at many Swiss banks are shown here:
- Aargauische Kantonalbank: Refugees can open a bank account at the Aargauische Kantonalbank. If you have an S permit, you have to visit a branch office to open your account. You must present a B, F, N, or S permit along with your passport of ID card. If you are eligible for an S permit, an official confirmation is sufficient. Refugees with S permits do not have to pay account fees or debit card fees.
- Bank Cler: Refugees can open a bank account at Bank Cler. You need to bring a valid identification document (passport or ID card) along with your B, N, F, or S permit. If you have residence in Switzerland, you can open an account either online or at a branch office. Services available to refugees include private accounts, savings accounts, debit cards, and online banking. Refugees are not eligible for credit cards and loans.
- Basellandschaftliche Kantonalbank: If you have an F, N, or S permit, you can open a private account or a savings account. If you have a B permit, you can use all of the bank’s products and services. To open an account, you need to visit a branch office and present a valid identification document (passport or ID card) and your refugee permit (or confirmation of your status from the immigration authorities).
- Basler Kantonalbank: If you are a refugee and are resident in northwestern Switzerland (Basel-Stadt, Basel-Landschaft, Thierstein, Dorneck, Fricktal), you can open an account at the Basler Kantonalbank regardless of which residence permit you have. You have to visit a branch office in person with an official identification document (ID card or passport) and your refugee permit. If you have an F or N permit, you also have to bring a proof of residence certificate. A mobile phone number or email address is required for account opening. Refugees can get a bank package which includes a private account, debit card, and online banking. Credit cards are not available to refugees.
- Berner Kantonalbank: Only B and S permit holders can open accounts at this bank. N and F permit holders are not eligible. You have to visit a branch office in person and present a valid ID (passport or ID card) along with your B or S permit. You can use private accounts, youth accounts, savings accounts, youth savings accounts, debit cards, ATM cards, and online banking. Limitations may apply to other services.
- Credit Suisse: If you have a B, F, or N permit, you can open a bank account at Credit Suisse. You need to provide your refugee permit and a valid passport of ID card. If you have an S permit, you can get the CSX Black banking package without being charged any package fees. Visit a Credit Suisse branch and present your S permit and ID (passport of ID card) to open an account.
- Banque Cantonale de Genève: To open an account with the cantonal bank of Geneva, you first have to phone the Netbanking hotline and make an appointment at a branch office. You need to bring your B, F, N, or S permit and an identification document to the appointment.
- Graubündner Kantonalbank: You can normally open an account if you have a B, N, F, or S permit. You must visit a branch office with your residence permit and a passport or ID card. Limitations may apply on a case-by-case basis.
- Luzerner Kantonalbank: Anyone with a B, F, N, or S permit can open an account at the Luzerner Kantonalbank. To open an account, you must visit a branch office with your ID card or passport, and your Swiss residence permit. If you are still waiting for your residence permit, you can bring a confirmation from the immigration authorities that your application for refugee status has been accepted. Compared to what is available to permanent residents (C permit), the product selection is very limited, especially for N, F, and S permit holders.
- Migros Bank: If you have a B permit, you can use all of the services offered by Migros Bank. If you have an F, N, or S permit, you can only use a private account with a debit card and online banking. You can find a list of Migros Bank branch offices which handle account-opening for refugees here. You have to visit one of these branches in person and bring an official identification document which includes a photograph of yourself. You also have to bring your F, N, or S permit. You must provide the address of your residence in Switzerland. If you leave Switzerland for good, you must close your account.
- Postfinance: Every legal resident of Switzerland has the right to open a bank account at the Swiss postal bank. You need to provide an official ID (depending on where you come from this may have to be a passport and not an ID card) and your residence permit (B, F, N, or S). If you have not received your residence permit yet, you can also bring a municipal certificate of residence or a document from the immigration authorities confirming that you have been registered, as long as these documents are less than three months old. The account opening can be done online or at a branch office. If you have an F, N, or S permit, you cannot get Postfinance credit cards and prepaid credit cards. If you have a B permit, you can get a prepaid cards right from the start, and can apply for a credit card once your Postfinance bank account is at least six months old.
- Raiffeisen: Only refugees with B and S permits can open accounts at Raiffeisen banks. If you have one of those permits, you can open an account through any channel, including online. To open an account, an official identification document (which includes a photograph of you) and your B or S permit are required. However, individual Raiffeisen cooperatives may have their own restrictions.
- Schwyzer Kantonalbank: If you have an S permit, you can open a private account with a debit card at an SZKB branch office. If you have a B, F, or N permit, you can only open a bank account if you have a Swiss work permit in addition to your residence permit. You have to show your work permit in order to open an account. In every case, you have to bring your residence permit and your passport (a translation is also required if the text in your passport is not written in Latin characters). Credit cards are not available to refugees.
- St.Galler Kantonalbank: Applications are processed on a case-by-case basis.
- Thurgauer Kantonalbank: The standard rule is that you have to live in the region (primarily Thurgau) and have a B permit. Refugees from Ukraine with S permits can also open an account. You cannot open an account if you have an F or N permit, or if you have an S permit but are not from Ukraine.
- UBS: As a refugee with a B, F, or S permit, you can open a UBS bank account. You have to visit a UBS bank in person and bring your residence permit. If you have an F permit, you can only open an account if you also have a valid employment contract (or a document from the social security office confirming that you are self-employed). If you have an N permit, you cannot open an account at UBS.
- Valiant: Refugees with F or S permits can get a private account with a debit card from Valiant bank. You have to go to a Valiant branch office personally, taking your F or S permit and an identification document with you. Offers which include credit cards are not available to refugees.
- Banque Cantonale du Valais: If you have a B permit, you can use all of the services offered by this cantonal bank. If you have an F, N, or S permit, you an open a private account with a debit card. If you do not have residence in Switzerland, you have to visit a branch office in person. You need to provide a passport or other official ID (a driver’s license, for example). In some cases, a copy of your application for asylum is required.
- Zürcher Kantonalbank: Offers for refugees may vary. Each application is processed on a case-by-case basis.
Swiss banks may run special promotions which target specific groups of refugees. For example, banks may offer free or discounted accounts and services to refugees from a specific country.
More on this topic:
Financial guide to Switzerland for refugees
A guide to opening a Swiss bank account as a foreigner
Compare Swiss private accounts now
