Bank Account for Nomads

Hi Moneyguru,

I will be deregistering in Switzerland in two months after which I will spend 2-4 years traveling the world. I just found out that it is impossible to keep a bank account (at Migros Bank or Postfinance, for example) without having a permanent place of residence. Now I am clueless as to how to work out having some sort of bank account during my years as a nomad. I would appreciate any recommendations you could make. Thank you.

Hi there,

The general rule is that you are required to be resident in Switzerland.

However, there are some banks which offer options for nomads. Some Swiss banks give you the option of giving power of attorney over your account to a resident (a trusted friend or relative, for example), thus enabling you to keep your account without having a permanent place of residence.

Both the Zürcher Kantonalbank and the Luzerner Kantonalbank provide this option, according to bank representatives. If there is a person whom you would trust with access to your account, ask the bank of your choice whether they provide this option.

Best regards from Moneyguru

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