Cash Out

The term "cash out" denotes the process of converting non-cash assets into cash. In Switzerland, the closure of or full removal of assets from a checking or savings account is often referred to as the “balancing” or “cashing out” of the account balance (“saldieren” or “Saldierung” in German).

You can generally close a single account, such as a checking account, without having to give up your other accounts or services at the same bank.

While you can open an account at most banks without paying a fee, many banks charge you fees when you close your account.

The one-off costs of closing an account are accounted for in the checking account and bank package comparisons on moneyland.ch.

More on this topic:
Unbiased Swiss checking account comparison
Comprehensive Swiss savings account comparison
Swiss bank package comparison

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Benjamin Manz is CEO of moneyland.ch and an independent expert on banking and finance.