Which Bank Is the Cheapest?

Many bank customers are surprised at the high fees they pay for using a bank account, the high costs of using credit cards, and the low interest earned from savings accounts. But in spite of that, many consumers continue to use just one bank.

Swiss tend to be loyal to their main bank. In a representative moneyland.ch survey in 2025, a high 63 percent of participants said that they have not changed banks in the past 10 years. But how much is that loyalty costing them?

For its 2026 Swiss Banking Costs Study, online comparison service moneyland.ch analyzed offers from nine major Swiss banks. For the analysis, moneyland.ch calculated the total annual costs, accounting for both fees and charges, as well as credits in the way of interest earned and rewards from customer loyalty programs. 

The study is based on the assumption that the following banking services are used:

• Private account and debit card
• Savings account
• Credit card
• Using payment cards for foreign transactions
• Pillar 3a investment solution

These are among the most widely-used banking services, and many bank customers get all of them from a single bank. That makes this study relevant for a large part of Switzerland’s residents.

The price of convenience: Between 491 and 821 francs

The differences in the cost of getting all your services from one bank vary broadly between banks. Migros Bank is the cheapest, with total costs of 491 francs per year. Next in line are the Zürcher Kantonalbank (597 francs) and Valiant (607 francs). The most expensive bank has total costs of nearly 1000 francs per year.

Using multiple banks can save you up to 229 francs

Although many consumers prefer to use just one bank, getting certain banking services from other banks can be financially advantageous. “It is perfectly possible to continue using your main bank for key services, while using more favorable offers from other banks for specific services,” clarifies moneyland.ch personal finance expert Ralf Beyeler.

For that reason, the moneyland.ch study also calculated the costs of using the most favorable service provider for each service individually. The results show that using multiple banks can drastically reduce the total costs.

The moneyland.ch calculations show that customers who use the most favorable offers from each bank end up with a credit of 229 francs per year, instead of costs. That is because the interest and rewards earned are higher than the total costs for the services used.

Big differences between banking services

Differences in costs can be larger or smaller, depending on the bank service in question. Many banks offer private accounts and debit cards without basic annual fees. For customers who do not use paid services like cash withdrawals and international bank transfers, these accounts cost zero francs per year. “Because of that, the potential to save on private accounts and debit cards is very low” says Ralf Beyeler from moneyland.ch.

But the savings potential is much higher for other banking services. For the profile used for the calculations, the difference between the lowest and highest costs are 101 francs for using payment cards for foreign transactions, 180 francs for savings accounts, and 216 francs for credit cards. The biggest differences are seen in pillar 3a investment solutions, where moving to the most favorable offer can save between 395 and 740 francs per year for the profile used.

It is interesting to note that apart from Bank WIR, the cheapest service providers for using payment cards for foreign transactions are primarily neobanks like Alpian and Wise. For the pillar 3a too, online-only service providers like True Wealth, Liberty Green, Viac, Finpension, Neon, and Frankly have exceptionally favorable pricing.

Using multiple banks makes more financial sense

The analysis shows that customers who get all their banking services from just one bank often pay much more than those who use a combination of different service providers.

By moving just a few services to other providers, bank customers can achieve noticeably cost savings. Potential to save is particularly high for pillar 3a solutions, credit cards, and savings accounts.

Investment solutions have the highest savings potential

Some bank customers use the stockbrokerage solutions offered by their primary bank to buy and hold investments like stocks, mutual funds, and ETFs. These customers could save a lot of money by using the most affordable stockbrokers instead. For an investor matching the “Occasional trader” profile with a portfolio worth around 45,000 francs and a total of 12 trades per year, Saxo Bank is currently the cheapest, with costs of 68 francs per year. The stockbrokerage services from major banks cost between 345 and 855 francs per year for the same profile.