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Dear Moneyguru,
My wife and I live in Denmark. We've owned a chalet in Valais for 15 years now. We need a bank account in Switzerland from which we can pay bills. We have used the Banque Cantonale du Valais until now, but they now charge 30 francs per month. Is there a cheaper bank?
Thank you
Hi there,
Unfortunately, the constant increase in banking regulations has led most Swiss banks to charge ever higher non-resident fees to customers who reside outside of Switzerland. On average Swiss banks charge non-resident customers more than 300 francs of additional fees per year.
However, some banks make exceptions for exceptional customers (such as asset management customers and mortgage customers). Some banks do not charge non-resident fees to customer living in certain countries. You can find more information about bank fees for non-residents here.
It may work out cheaper for you to simply transfer money from your foreign bank account to pay bills.
Another option may be to declare your holiday home as a second residence in order to open a resident account at another Swiss bank.
Best regards from Moneyguru
