Before you start

Registration confirmation or permit card
Passport
Address in the canton
Employment contract, sometimes requested

Step-by-step

1
Register first, then apply
The registration confirmation is normally sufficient proof of residence. Waiting for the plastic permit card to arrive delays your first salary payment for nothing.
In personWho: You
2
Choose the bank tier that matches your needs
Berner Kantonalbank is the cantonal bank; UBS and Raiffeisen cover the universal side; Neon, Yuh and Zak are materially cheaper for ordinary current-account use and are widely used by Swiss residents, not just newcomers.
OnlineWho: You
3
Declare US person status before you apply
FATCA reporting leads several Swiss banks to decline US citizens and green-card holders or to restrict services. Establish which institutions accept US clients before you submit anything formal.
In personWho: You
4
Learn the QR-bill and set up eBill
Rent, health insurance, tax instalments and the Serafe fee arrive as QR-bills you scan in the banking app. Registering for eBill is the standard way to stop the first missed deadline.
Mobile appWho: You
5
Open a rent deposit account if your landlord requires one
Swiss deposits are held in a blocked account in the tenant's name, capped at three months' rent for residential tenancies, and released only with both signatures or a court order. Your bank opens it; the landlord cannot hold the money directly.
In personWho: You

Documents you’ll need

Passport
Registration confirmation or permit
Proof of address
Employment contract, sometimes requested

Things most newcomers don’t know

Nothing in Switzerland debits itself, and that is the first month's classic mistake.

QR-bills arrive on paper or in eBill and sit there until you act. Rent, the health insurance you are legally required to hold and the Serafe broadcasting fee all work this way. People arriving from countries where direct debit is the default miss the first one without noticing.

Source: SIX — the Swiss QR-bill payment standard

US citizens should confirm a bank accepts US persons before applying.

FATCA obligations lead a number of Swiss institutions to decline US clients outright. A formal refusal is awkward to explain to the next bank and can hold up a salary payment for weeks. A phone call first avoids the whole sequence.

Source: Swiss banking practice under FATCA

The rent deposit is your money in a blocked account, not the landlord's.

Swiss law caps a residential deposit at three months' rent and requires it to sit in an account in the tenant's name. A landlord asking for a transfer to their own account is not following the rule, and getting the money back at the end is much harder once it is mixed with theirs.

Source: Swiss tenancy law on rent deposits

Swiss retail banking has real monthly fees, which arrivals from the EU find surprising.

Free current accounts as offered in Germany or the Netherlands have no equivalent at the traditional Swiss banks. Maintenance charges, card fees and per-transaction costs are normal, and the digital challengers are the mainstream answer rather than a workaround.

Source: Swiss Bankers Association

Common mistakes to avoid

Applying before completing your registration.
For US persons: applying without confirming the bank accepts US clients.
Missing QR-bill deadlines because nothing auto-debits.
Paying a rent deposit into the landlord's own account instead of a blocked account in your name.
Assuming free banking as in the EU.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.