Opening a Swiss bank account remains a strategic decision for US corporations and non-residents seeking financial stability, asset protection, and access to global markets. The landscape has fundamentally changed since the introduction of FATCA and CRS. Let me address the three most common questions upfront: > Who can open an account? US corporations, non-residents, and private individuals can open Swiss accounts if they meet strict KYC requirements, provide valid identification, proof of address, source of funds documentation, and comply with tax reporting obligations. "Swiss banks require full KYC, beneficial ownership disclosure, and U.S. tax compliance for U.S. clients." — Blake Harris Law, 2024. What is the minimum threshold? Minimum deposits vary dramatically—from CHF 5,000 for basic retail accounts to CHF 1,000,000 or more for private banking services, depending on the bank and client profile. "Corporate minimums commonly range from USD 250,000 to over USD 1 million, depending on the bank." — LFA Wealth, 2025. > What about confidentiality today? Swiss banking secrecy still protects clients from third parties and commercial espionage within Switzerland. However, for US tax authorities, automatic information exchange under FATCA means Swiss banks report account details directly to the IRS. "FATCA ended secrecy for U.S. persons; Swiss banks collect W‑9s and report annually." — Alper Law, 2025. Confidentiality exists, but not from your home country's tax office. > "Over the past two decades, I've guided more than 300 corporations through Swiss company registration and banking setup. The biggest misconception? That Swiss banking is about hiding money. It's not. It's about accessing a stable jurisdiction, sophisticated wealth management, and legal asset protection—all while maintaining full tax compliance." — Markus Pritzker, SwissFirma ## What is a Swiss bank account? Pros, cons, and key benefits A Swiss bank account is a financial account held at a bank domiciled in Switzerland, offering access to one of the world's most stable financial systems. Swiss banks provide services ranging from basic current accounts to sophisticated private banking mandates with multi-currency options, investment portfolios, and wealth structuring. For US corporations and non-residents, Swiss accounts serve multiple purposes: operational banking for international transactions, treasury management, asset diversification, and access to Swiss franc (CHF) stability. The Swiss financial system is backed by strong regulatory oversight from FINMA (Swiss Financial Market Supervisory Authority), robust capital requirements, and a long tradition of financial prudence. Key benefits include economic and political stability, protection against currency volatility through CHF exposure, access to global investment markets, and high-quality wealth management expertise. Swiss banks offer sophisticated services such as multi-currency accounts, custody services for securities, and tailored investment solutions. "Swiss banking benefits focus on lawful asset protection and professional management, not secrecy." — Alper Law, 2025. These advantages come with trade-offs. High entry barriers, strict compliance procedures, and mandatory tax transparency for US clients have reshaped the Swiss banking landscape. The era of anonymous numbered accounts for US persons is over.

Comparison of advantages and disadvantages of opening a Swiss bank account
Advantages (Pros)	Disadvantages (Cons)
Economic and political stability of Switzerland	High minimum deposit requirements (CHF 250,000 to CHF 2,000,000+)
Asset protection and diversification	High account maintenance and transaction fees
Highest level of service and expertise in wealth management	Strict KYC/AML compliance procedures
Access to global investment markets and multi-currency banking	No anonymity from US tax authorities under FATCA
Stability of Swiss franc (CHF) as safe-haven currency	Limited number of banks accepting US corporate clients

Opening a Swiss Bank Account: A Balanced View

Advantages (Pros)

✓
Economic and political stability of Switzerland
✓
Asset protection and diversification
✓
Highest level of service in wealth management
✓
Access to global markets and multi-currency banking
✓
Stability of Swiss franc (CHF) as a safe-haven currency

Disadvantages (Cons)

✗
High minimum deposit requirements (CHF 250k - 2M+)
✗
High account maintenance and transaction fees
✗
Strict KYC/AML compliance procedures
✗
No anonymity from US tax authorities under FATCA
✗
Limited number of banks accepting US corporate clients

{{cta:cta-1}} ## Navigating Swiss banking regulations: FATCA, CRS, AML, and KYC explained Understanding the regulatory framework is essential before opening a Swiss bank account. Four key systems govern Swiss banking for international clients: FATCA, CRS, AML, and KYC. FATCA (Foreign Account Tax Compliance Act) is US legislation enacted in 2010 requiring foreign financial institutions to identify and report accounts held by US persons to the IRS. Swiss banks must collect Form W-9 from US clients and report account balances, income, and ownership details annually. "Switzerland is transitioning to FATCA Model 1 in 2027 after the 2024 agreement." — Taxes for Expats, 2025. On June 27, 2024, Switzerland and the US signed an updated FATCA agreement, transitioning from Model 2 (direct bank-to-IRS reporting) to Model 1 (bank-to-Swiss-tax-authority-to-IRS), effective 2027. This enables reciprocal automatic exchange of information. For authoritative guidance on FATCA requirements, consult the IRS official page at irs.gov/businesses/corporations/summary-of-key-fatca-provisions. CRS (Common Reporting Standard) is the OECD's global framework for automatic exchange of financial account information, implemented by Switzerland since 2016. Under CRS, Swiss banks identify account holders' tax residencies and report relevant data to the Swiss Federal Tax Administration, which exchanges it with over 100 participating jurisdictions. CRS complements FATCA but covers all tax residents, not only US persons. For CRS implementation details, refer to the OECD resource at oecd.org/tax/automatic-exchange/crs-implementation-and-assistance. AML (Anti-Money Laundering) procedures are mandated by Swiss federal law and FINMA regulations. Banks must verify the identity of clients, understand the nature and purpose of business relationships, assess risks, and monitor transactions continuously. "Banks increasingly demand enhanced due diligence for high‑risk clients and complex corporate structures." — Easy Global Banking, 2025. Enhanced due diligence applies to politically exposed persons (PEPs), clients from high-risk jurisdictions, and complex corporate structures. KYC (Know Your Customer) is the foundation of Swiss banking compliance. For US corporations, KYC requires submission of articles of incorporation, shareholder registers identifying ultimate beneficial owners (UBO), board resolutions, financial statements, and detailed documentation of the source of funds. "Banks require shareholder registers identifying UBOs, typically owners above 10–25%." — Easy Global Banking, 2025. For individuals, banks require passport copies, proof of address (utility bills or lease agreements not older than 3–6 months), CV, and evidence of income or wealth origin.

No Anonymity from Tax Authorities

How Swiss Banks Report Account Information

US Person / Corporation

Account at Swiss Bank

Swiss Bank

Reports to:

Swiss Federal Tax Administration

IRS (USA)

via FATCA

100+ Jurisdictions

via CRS

### Is it legal for a US corporation or citizen? Yes, absolutely legal. "Opening a Swiss account is legal when you meet KYC and U.S. tax reporting obligations." — Blake Harris Law, 2024. Opening a Swiss bank account is fully permitted under US and Swiss law, provided all tax reporting obligations are met. The key requirement is transparency. US persons—including citizens, green card holders, and tax residents—must disclose foreign accounts to the IRS. Swiss banks operating under FATCA agreements are legally obligated to report US client data, making concealment impossible and illegal. Compliance, not secrecy, is the foundation of legality. ### US reporting requirements: FATCA and FBAR US corporations and individuals with Swiss accounts face two primary reporting obligations: FBAR (FinCEN Form 114) must be filed by any US person with financial interest or signature authority over foreign accounts if the aggregate value exceeds USD 10,000 at any point during the calendar year. "FBAR is required if foreign accounts exceed $10,000 at any time during the year." — Halbert Hargrove, 2024. FBAR is submitted electronically to FinCEN (Financial Crimes Enforcement Network) via the BSA E-Filing System, not to the IRS. The deadline for 2024 accounts is April 15, 2025, with an automatic extension to October 15, 2025. Penalties for non-compliance are severe: up to USD 10,000 for unintentional violations and "Willful FBAR violations can incur penalties up to 50% of the account balance." — Halbert Hargrove, 2024. Form 8938 (FATCA reporting) is filed with your annual tax return if foreign financial assets exceed specified thresholds. "Form 8938 applies to single filers starting at $50,000 year‑end or $75,000 anytime." — Greenback Tax Services, 2024. For single taxpayers residing in the US, the threshold is USD 50,000 at year-end or USD 75,000 at any point during the year. For married couples filing jointly, thresholds are higher. Form 8938 requires detailed disclosure of account balances, income, and financial institution information. Both FBAR and Form 8938 are mandatory. Failure to file can result in substantial penalties, criminal charges, and IRS enforcement actions. Swiss banks will not open or maintain accounts for US clients who refuse to comply with these requirements. ### Global CRS standard and AML/KYC procedures The Common Reporting Standard (CRS) is the OECD-developed framework for automatic exchange of financial account information, effective since January 1, 2016. Over 100 countries participate, including Switzerland. Under CRS, Swiss banks must identify account holders' tax residencies through self-certification forms, verify this information against KYC documents, and report account balances, interest, dividends, and sales proceeds to the Swiss Federal Tax Administration annually. This data is then exchanged with the tax authorities of the account holder's residence country. CRS complements FATCA but is broader in scope, covering all participating jurisdictions. For US corporations, this means Swiss banks report to both the IRS (under FATCA) and potentially to other tax authorities if the corporation has tax residency or operations in CRS-participating countries. AML and KYC procedures in Swiss banks include: - Customer identification: Verification of identity documents (passport, corporate registration certificates) through notarized copies or biometric scans. - Beneficial ownership disclosure: Identification of all individuals owning more than 25% of a corporation or exercising control. - Source of funds verification: Documentation proving the legal origin of deposited funds (sales contracts, tax returns, audited financials, inheritance documents). - Risk assessment: Evaluation of client risk profile based on jurisdiction, business activity, transaction patterns, and PEP status. - Ongoing monitoring: Continuous review of transactions to detect unusual or suspicious activity, with mandatory reporting to FINMA for suspected money laundering. > "In 2025, many Swiss banks require proof of economic substance, like office leases or employees." — Easy Global Banking, 2025. Swiss banks use systems like World-Check to screen clients against PEP databases and sanctions lists. Enhanced due diligence applies to high-risk clients, requiring additional documentation, interviews, and approval from senior compliance officers. ## Types of Swiss accounts: for individuals, corporations, and trusts Swiss banks offer multiple account types tailored to different client needs. Understanding these categories helps you select the right structure for your objectives. ### Personal accounts for non-residents Personal accounts are designed for individuals, including non-residents and US citizens. These accounts support savings, investments, and international transactions. Current accounts provide high liquidity with debit cards, online banking, and multi-currency options (CHF, USD, EUR, GBP). Interest rates are typically low (0.01% to 0.25% annually) but offer flexibility for daily transactions. Savings accounts offer slightly higher interest rates with withdrawal restrictions. Minimum balances vary from CHF 1,000 to CHF 50,000 depending on the bank. Investment accounts require higher minimum deposits (CHF 250,000 to CHF 500,000) and provide access to managed portfolios, ETFs, bonds, and alternative investments. These accounts are ideal for wealth accumulation and diversification. "Remote onboarding uses biometric ID and live video verification, though some cases still require in‑person meetings." — Taxes for Expats, 2025. Non-residents can open personal accounts remotely through video identification in many banks, though some still require in-person visits for high-value accounts. ### Corporate accounts for US entities Corporate accounts serve the operational and treasury needs of businesses. For US corporations, these accounts facilitate international payments, currency management, and capital structuring. Operational accounts handle day-to-day transactions: payroll, supplier payments, and client receipts. Multi-currency functionality is standard, allowing corporations to hold CHF, USD, EUR, and other currencies in a single account. Escrow accounts are used for M&A transactions, contract settlements, and capital deposits during company formation. Swiss banks act as neutral custodians, releasing funds only when contractual conditions are met. Capital deposit accounts are required for Swiss company registration. When forming a GmbH or AG, the share capital must be deposited in a Swiss bank, which issues a confirmation letter to the Commercial Register. US corporations must provide comprehensive documentation: articles of incorporation, shareholder registers with UBO details (individuals owning more than 10–25% depending on bank policy), board resolutions authorizing account opening, audited financial statements, and proof of business activity (contracts, invoices, tax filings). ### Accounts for trusts and foundations Trusts and foundations use Swiss accounts for asset management, estate planning, and wealth preservation. These structures require specialized accounts due to their legal complexity. Investment accounts for trusts hold diversified portfolios managed by trustees or professional wealth managers. Minimum deposits typically start at CHF 500,000. Deposit accounts provide secure storage for cash reserves, with interest rates varying by currency and term. "Transparency rules extend to trusts; anonymity for U.S.‑connected structures has effectively ended." — Alper Law, 2025. Swiss banks apply enhanced due diligence to trust and foundation accounts, requiring full disclosure of settlors, beneficiaries, trustees, and protectors. Transparency requirements under CRS and FATCA extend to these structures, eliminating anonymity for US-connected trusts. ### The truth about numbered Swiss accounts for US clients Numbered accounts are often misunderstood. They are not anonymous. A numbered account is an internal bank identifier that replaces the client's name in operational systems, limiting access to account details among bank staff. This enhances confidentiality within the bank but does not provide anonymity from tax authorities. "Numbered accounts do not provide anonymity from tax authorities under FATCA." — Alper Law, 2025. Under FATCA and CRS, Swiss banks must report the full identity, account number, balance, and income of US clients to the IRS, regardless of whether the account is numbered. The bank knows the client's identity, and so does the IRS. Numbered accounts offer privacy from third parties (competitors, family members, commercial espionage) but zero protection from tax authorities. For US corporations and citizens, numbered accounts are a legacy feature with no practical benefit in the current regulatory environment. ## How to open a Swiss bank account: a step-by-step guide Opening a Swiss bank account for a US corporation or non-resident involves six sequential steps. The process typically takes 4 to 12 weeks, depending on document completeness and bank due diligence.

How to Open a Swiss Bank Account: The 6-Step Process

Select Bank

Research banks that accept US clients (e.g., UBS, Julius Baer).

Prepare Docs

Gather corporate, personal, and source of funds documents.

Submit & KYC

Submit application and undergo due diligence checks.

Sign Agreements

Sign documents online or in-person after approval.

Deposit Funds

Transfer the required minimum initial deposit.

Activate Account

Receive credentials and start using your account.

> "The opening process follows six steps: choose bank, prepare documents, KYC, sign, fund, activate." — Easy Global Banking, 2025. {{cta:cta-1}} ### Step 1: research and select the right bank Not all Swiss banks accept US corporate clients. FATCA compliance costs and regulatory complexity have led many banks to exit the US client segment. "Banks with U.S. client infrastructure include UBS, Julius Baer, Pictet, and Vontobel." — Easy Global Banking, 2025. Focus on banks with established US client infrastructure: UBS, Julius Baer, Pictet Group, Vontobel, and Swissquote. Consider your objectives: - Private banking for wealth management and investment advisory (minimum CHF 500,000 to CHF 2,000,000). - Retail banking for basic services (minimum CHF 5,000 to CHF 50,000). - Corporate banking for operational accounts and treasury management (minimum CHF 100,000 to CHF 500,000). Evaluate fees, service quality, investment options, and the bank's willingness to work with your jurisdiction and business model. Some banks impose higher minimums or refuse clients from certain industries (crypto, cannabis, high-risk jurisdictions). ### Step 2: prepare the required document package Documentation requirements vary by client type but follow a standard framework. For individuals: - Notarized copy of valid passport - Proof of address (utility bill, lease agreement, or bank statement not older than 3–6 months) - CV or professional summary - Documentation of source of funds (employment contracts, tax returns, sale agreements, inheritance documents, investment statements) - Tax residency certificate (if applicable) For US corporations: - Articles of incorporation or certificate of formation - Certificate of good standing from the state of incorporation - Shareholder register identifying all beneficial owners (individuals owning more than 10–25%) - Board resolution authorizing account opening and designating signatories - Audited financial statements or tax returns (last 2–3 years) - Business plan or description of commercial activity - Proof of source of funds (contracts, invoices, bank statements showing revenue) - IRS Form W-9 (for FATCA compliance) All documents must be in English, German, French, or Italian. Translations may be required, and some banks request notarization or apostille certification. ### Step 3: KYC, due diligence, and application submission Submit your application through the bank's online portal, relationship manager, or authorized intermediary. The bank initiates KYC and due diligence procedures: - Identity verification: Passport and address confirmation through notarized documents or video identification. - Beneficial ownership check: Verification of UBO identities and ownership percentages. - Source of funds review: Assessment of the legal origin of deposited funds to prevent money laundering. - Risk screening: Checks against PEP databases, sanctions lists (OFAC, EU, UN), and adverse media. - Economic substance verification: For corporations, proof of actual business operations (office lease, employment contracts, supplier agreements) to demonstrate legitimate activity. Banks may request additional information, conduct video interviews, or require in-person meetings. Enhanced due diligence applies to high-risk clients, extending the process by several weeks. Under CRS, the bank must obtain a self-certification form confirming your tax residency. If not provided at account opening, the bank must collect and verify this information within a reasonable timeframe. Failure to comply can result in account restrictions or closure. ### Step 4: sign documents (online or in-person visit) Once due diligence is complete, the bank issues account agreements, terms and conditions, and fee schedules. Signing options include: - Remote signing: Electronic signature via platforms like DocuSign, combined with video identification. - In-person signing: Visit to the bank's office in Switzerland, required by some banks for high-value accounts or complex structures. Most banks now accept remote signing for standard accounts, but private banking clients often undergo an initial in-person meeting to establish the relationship and discuss investment strategies. ### Step 5: deposit initial funds and activate the account After signing, transfer the minimum deposit to activate the account. Minimum amounts vary: - Retail accounts: CHF 5,000 to CHF 50,000 - Private banking: CHF 500,000 to CHF 2,000,000 - Corporate accounts: CHF 100,000 to CHF 1,000,000 Funds can be transferred via international wire transfer (SWIFT), with currency conversion handled by the bank. Once the deposit is confirmed, the bank activates the account, issues online banking credentials, and assigns a relationship manager (for private banking clients). ## Financials: costs, deposits, and statistics ### Swiss bank account minimum balance and initial deposit requirements Minimum deposit requirements depend on the bank and account type. There is no universal standard, and thresholds have increased significantly since FATCA implementation.

Comparison of approximate minimum deposit thresholds for different banking types in Switzerland in 2025
Banking type	Approximate minimum deposit	Best for
Private banking	CHF 500,000 to CHF 2,000,000+	High-net-worth individuals and corporations seeking wealth management, investment advisory, and estate planning
Wealth management	CHF 250,000 to CHF 500,000	Affluent clients requiring portfolio management and financial planning
Retail/digital banking	CHF 5,000 to CHF 50,000	Mass-market clients needing basic banking services with limited investment options

"Private banking minimums often start around USD 500,000 for U.S. clients." — LFA Wealth, 2025. Private banking clients typically require CHF 1,000,000 or more to access full-service mandates, including dedicated relationship managers, bespoke investment strategies, and global market access. Retail accounts offer lower minimums but limited services and higher fees relative to balance. For US corporations, banks often impose higher minimums (CHF 250,000 to CHF 500,000) due to FATCA compliance costs and regulatory risk. ### Cost of opening and maintaining an account: all fees and charges Swiss banking is not cheap. "Fees for account setup and maintenance vary by bank and are higher for complex U.S. cases." — Easy Global Banking, 2025. Fee structures include: Account opening fees: CHF 500 to CHF 2,000, depending on complexity and client type. Annual maintenance fees: CHF 300 to CHF 1,500 for retail accounts; CHF 1,000 to CHF 5,000 for private banking. Transaction fees: 0.5% to 1% per international transfer, plus currency conversion fees of 0.2% to 0.4%. Asset management fees: 0.5% to 1% annually on assets under management, with performance-based fees for active strategies. Custody fees: 0.1% to 0.5% annually for securities held in custody, varying by asset class (equities, bonds, alternatives). Inactivity fees: CHF 50 to CHF 200 per quarter if account balance falls below minimum or no transactions occur. Additional charges apply for payment cards, wire transfers, currency exchanges, and special services (tax reporting, legal documentation, estate planning). For US clients, banks may impose higher fees to offset FATCA compliance costs, including annual reporting, IRS coordination, and enhanced due diligence. ### Interest rates and high-net-worth banking statistics Interest rates on Swiss deposits remain low in 2025, reflecting the Swiss National Bank's monetary policy and global economic conditions. Current deposit rates: - CHF savings accounts: 0.1% to 0.25% annually - USD accounts: 1.75% to 2.00% annually (for balances up to USD 100,000) - EUR accounts: 1.50% to 1.75% annually Switzerland manages approximately CHF 8.4 trillion in assets under management (AUM) as of 2024, according to the Swiss Bankers Association Banking Barometer 2024. This figure includes domestic and international client assets, reflecting Switzerland's position as a global wealth management hub.

Assets Under Management (AUM) in Switzerland

Source: Swiss Bankers Association, Banking Barometer 2024

2020 2021 2022 2023 2024

High-net-worth clients (HNWI) with over USD 1 million in investable assets represent the core of Swiss private banking. These clients seek diversification, currency stability, and access to alternative investments (private equity, real estate, hedge funds). ## Best Swiss banks for foreigners and US citizens Not all Swiss banks welcome US corporate clients. FATCA compliance burdens and regulatory risks have led many institutions to exit the US market. However, several major banks maintain robust US client services.

Comparison of leading Swiss banks for US corporate clients and non-residents in 2025
Bank	Specialization (best for)	Approximate minimum deposit	Key services for corporations/HNWI
UBS	Global wealth management and corporate banking	CHF 500,000+	Multi-currency accounts, investment portfolios, M&A advisory, treasury management, FATCA-compliant reporting
Julius Baer	Private banking for international entrepreneurs	CHF 500,000 to CHF 1,000,000	Wealth structuring, alternative investments, family office services, global market access
Pictet Group	Wealth management and alternative investments	CHF 500,000 to CHF 1,000,000	Private equity, real estate, hedge funds, estate planning, philanthropy advisory
Vontobel	Investment solutions and private markets	CHF 250,000 to CHF 500,000	Active asset management, private credit, structured products, thematic investing in Switzerland

UBS is the largest Swiss bank by assets under management (approximately CHF 4.2 trillion in 2024), offering comprehensive services for US corporations, including operational accounts, treasury management, and investment banking. UBS has extensive FATCA compliance infrastructure and a dedicated US client division. Julius Baer specializes in private banking for entrepreneurs and HNWI, with strong presence in Asia, Middle East, and Europe. The bank focuses on personalized wealth management, alternative investments, and family governance. Pictet Group is a privately owned bank with over 200 years of history, offering wealth management, asset management, and alternative investments. Pictet manages CHF 724 billion in assets (2024) and provides tailored solutions for ultra-high-net-worth clients. Vontobel emphasizes investment solutions and private markets, with CHF 288 billion in assets under management (2024). The bank targets clients seeking active asset management, private equity, and structured products. All four banks accept US corporate clients but require full FATCA compliance, enhanced due diligence, and higher minimum deposits compared to non-US clients. ## Core services: Swiss private banking, wealth management, and asset protection Swiss banking is not merely about holding cash. It provides access to sophisticated financial services designed for wealth preservation, growth, and intergenerational transfer. Private banking offers personalized relationship management, with dedicated advisors who understand your financial goals, risk tolerance, and family dynamics. Services include bespoke investment portfolios, tax-efficient structuring, estate planning, and philanthropic advisory. Wealth management encompasses portfolio construction, asset allocation, and ongoing monitoring. Swiss banks provide access to global markets (equities, bonds, commodities, real estate) and alternative investments (private equity, hedge funds, infrastructure). Multi-currency accounts allow clients to hold CHF, USD, EUR, GBP, and other currencies, hedging against currency risk. Asset protection strategies include legal structuring (trusts, foundations, holding companies), diversification across jurisdictions, and custody services for physical assets (gold, art, collectibles). Swiss law protects client assets from creditors, political instability, and currency devaluation in home countries. For US corporations, Swiss accounts facilitate international expansion, currency management, and capital structuring. Holding CHF provides a hedge against USD volatility, while access to European markets simplifies cross-border transactions. ## Common mistakes US companies make when opening an account and how to avoid them ### Underestimating the complexity and duration of KYC procedures Many US corporations expect a quick account opening process similar to domestic banking. Swiss banks, however, conduct exhaustive due diligence that can take 4 to 12 weeks or longer. Mistake: Submitting incomplete documentation or failing to provide detailed source of funds evidence. Solution: Prepare a comprehensive document package in advance, including audited financials, shareholder registers with UBO details, board resolutions, and business activity descriptions. Work with a Swiss corporate advisor to ensure all requirements are met before submission. For detailed guidance, visit Bank account in Switzerland: your next steps. ### Incomplete or incorrect US tax reporting (FBAR/FATCA) Failure to file FBAR or Form 8938 is the most common compliance error among US clients. The IRS imposes severe penalties, including fines up to 50% of account value for willful violations. Mistake: Assuming the Swiss bank handles US tax reporting on your behalf. Solution: Understand that FBAR and Form 8938 are your responsibility, not the bank's. Consult a US tax advisor specializing in foreign accounts to ensure timely and accurate filing. Set calendar reminders for April 15 (FBAR) and tax return deadlines (Form 8938). ### Choosing a bank not specialized in US clients Many Swiss banks have exited the US client market due to FATCA costs. Applying to these banks results in automatic rejection or account closure after opening. Mistake: Selecting a bank based solely on reputation or fees without verifying US client acceptance. Solution: "Common mistakes include underestimating KYC, poor FBAR/FATCA compliance, and choosing banks without U.S. expertise." — Easy Global Banking, 2025. Research banks with established US client divisions and FATCA compliance infrastructure. UBS, Julius Baer, Pictet, and Vontobel are reliable options. Avoid smaller regional banks that lack the resources to manage US regulatory requirements. {{cta:cta-1}} ## Ready to secure your assets? Get expert consultation Opening a Swiss bank account is a strategic decision requiring careful planning, regulatory compliance, and expert guidance. Whether you are a US corporation seeking operational banking, a non-resident looking for asset protection, or a high-net-worth individual planning wealth transfer, Swiss banking offers unparalleled stability and expertise. At SwissFirma, we specialize in guiding international clients through Swiss company formation and banking setup. Our team of licensed Swiss lawyers and financial advisors provides end-to-end support, from document preparation to account activation. For detailed next steps, visit Bank account in Switzerland: your next steps. Contact us today to discuss your Swiss banking needs and receive a personalized roadmap for account opening. Disclaimer: All content on this website is provided for information purposes only and does not constitute legal, tax, or financial advice. We accept no responsibility for any loss or damage arising from reliance on this information. Consult a qualified advisor before making financial decisions.

How to open a Swiss bank account: complete guide for US corporations and non-residents in 2026