It is difficult to define the “best” bank, simply due to the individual preferences and needs that go into making these decisions but there are a few banks in Switzerland that have consistently stood out as some of the leading in the industry.
In reality, each bank has its own strengths, specialties and weaknesses, so it's important to align your choice with your individual financial needs and preferences.
When choosing a Swiss bank, consider factors such as the charges just to have an account, other charges for the services you may wish to use, the bank’s security, availability of services that you require, accessibility, online banking capabilities, customer service quality (including languages spoken), and any additional benefits or perks offered. Perks might include an introductory offer that will pay you to setup an account.
Below are some of the most popular options for banking services and institutions that have earned their reputation over the years.
UBS (Union Bank of Switzerland)
As the largest and probably the most well-known banks in Switzerland, UBS has a global presence and offers a range of financial services. From investment banking to retail banking, UBS caters to a diverse clientele. Its commitment to innovation and a wide range of offerings has made it popularly a preferred choice for both individuals and businesses when setting up their respective bank accounts.
Migros Bank
Migros Bank is associated with the Migros Cooperative Retail Group. It provides services such as savings accounts, personal loans, mortgages, and investment opportunities. Migros Bank is known for its customer-centric approach and competitive rates for banking fees.
PostFinance
As the financial arm of SwissPost, PostFinance is again one of the largest retail banks in Switzerland. It offers a wide range of banking services including savings accounts, payment solutions, mortgages, personal loans, and investment options. PostFinance is known for its accessibility and user-friendly online banking platform.
Raiffeisen Group
Raiffeisen is a cooperative banking group with a strong presence throughout Switzerland. It consists of numerous local Raiffeisen bank branches that offer services including savings accounts, personal loans, mortgages, and investments. The cooperative structure often allows for a more customer-oriented approach.
Cantonal Banks (subject to where you reside)
While some cantonal banks primarily focus on private banking, many also provide services for individuals and families. These banks can vary from canton to canton, but they often offer a range of retail banking services including savings accounts, loans, and mortgages.
Examples include Zurich Cantonal Bank (ZKB), Banque Cantonale Vaudoise (BCV), and Banque Cantonale de Genève (BCGE).
Please note that all content within this response has been prepared for information purposes only. This response does not constitute financial, legal or tax advice. Always ensure you speak to a regulated Financial Adviser before making any financial decisions.