Switzerland’s banking market is renowned for stability and innovation, combining global full-service banks with specialized private banks, cantonal champions, and digital-first players. The major institutions—UBS, Credit Suisse (now part of UBS), Raiffeisen, PostFinance, and leading cantonal banks—provide broad coverage in retail, corporate, private banking, and wealth management. Alongside them, regional banks and private partnerships deliver hyper-local expertise and bespoke advisory, while online brokers and fintech-led banks grow among internationally minded clients.
At Damalion, we guide clients through this landscape end-to-end: selecting the right bank, preparing a bank-ready pack, arranging compliance dialogues, and coordinating activation. Our inbound resources—such as Comprehensive guide to Swiss bank accounts and Acceptance playbook for Swiss bank accounts—show our cross-border approach, fully applicable to Swiss banks.
While national players operate across the Confederation, several cities concentrate financial and corporate activity:
- Zurich – financial powerhouse and global wealth hub
- Geneva – international finance, diplomacy, and private banking
- Basel – life sciences capital with strong banking roots
- Lausanne – Lake Geneva tech, education, and cantonal finance
- Lugano – Ticino’s lakeside gateway to Italian-speaking markets
Opening a bank account in Switzerland: practical onboarding notes
Whether you open a personal account or a corporate relationship, Swiss banks require a file that compliance and KYC/AML teams can process easily. Institutions verify identity, tax status, beneficial ownership, source of funds/wealth, and the purpose of the relationship before approval. A clear, consistent application saves time for both client and bank.
For private clients, everyday accounts normally require a valid passport or residence permit, proof of address, and tax residency details. Source of funds should be documented—salary statements, portfolio statements, sale contracts, or inheritance papers. For companies, banks typically request registry extracts, constitutional documents, UBO charts, signatory lists, and evidence of lawful control over the entity.
Swiss banks also assess how the account will be used—salary runs, supplier payments, custody activity, investment flows, or cross-border collections—seeking alignment between declared activities and supporting documentation. Larger groups may require enhanced due diligence for non-residents, complex structures, or sensitive sectors, whereas regional banks can be faster for local, straightforward use-cases.
Acceptance is never automatic: each institution applies its internal risk policy. With transparent documents, a concise business rationale, and realistic transaction expectations, the likelihood of approval rises materially.
Due diligence – common questions
What does due diligence mean in Switzerland?
It is the set of KYC/AML checks required to verify identity, beneficial owners, tax status, and the legitimate origin and purpose of funds.
Which documents are always requested?
Government ID, proof of address, tax residency self-certification, and documents evidencing source of funds and source of wealth.
What counts as source of funds?
Salary, business income, asset sales, investment proceeds, or inheritance—substantiated by official statements and contracts.
How do banks confirm beneficial owners?
Through registry extracts, UBO charts, and group/shareholder registers down to natural persons with control.
Do politically exposed persons (PEPs) get accepted?
Yes, subject to enhanced due diligence, senior approvals, and additional corroborating documents.
Can non-residents open a Swiss account?
Yes, but banks weigh ties to Switzerland, the use-case, and documentation quality; some private banks have minimum asset thresholds.
Why does a bank ask about expected payments?
To validate that counterparties, currencies, volumes, and geographies are consistent with your profile and supporting papers.
Are translations or apostilles needed?
Often for foreign corporate documents; banks may ask for certified translations and Hague apostilles to confirm authenticity.
Can the bank reject without detailed reasons?
Yes. Decisions reflect internal risk appetite and regulatory obligations, even when documents are complete.
How long does onboarding usually take?
From days to a few weeks for straightforward cases; more for non-resident or complex corporate structures.
To open your Swiss bank account, please contact your Damalion expert.
| Bank (opens in new tab) | Address | Activities |
|---|---|---|
| UBS Group AG | Bahnhofstrasse 45, 8001 Zurich | Global universal bank providing retail, corporate, wealth management, and investment banking under one roof. |
| Credit Suisse (now part of UBS) | Paradeplatz 8, 8001 Zurich | Legacy multinational franchise known for wealth management and corporate & investment banking capabilities. |
| Raiffeisen Switzerland | Raiffeisenplatz 4, 9001 St. Gallen | Cooperative network offering community banking, SME lending, and everyday retail services nationwide. |
| PostFinance Ltd. | Mingerstrasse 20, 3030 Bern | Retail payments specialist with strong e-banking, CHF accounts, and cards for residents and businesses. |
| Zürcher Kantonalbank (ZKB) | Bahnhofstrasse 9, 8001 Zurich | Canton-backed lender delivering retail, corporate, and private banking across the Zurich region. |
| Banque Cantonale Vaudoise (BCV) | Place St-François 14, 1003 Lausanne | Universal banking in Vaud spanning mortgages, SME finance, and asset management for local clients. |
| Banque Cantonale de Genève (BCGE) | Quai de l’Île 17, 1204 Geneva | Geneva’s cantonal bank active in retail, trade finance, real estate lending, and wealth services. |
| Berner Kantonalbank (BEKB/BCBE) | Bundesplatz 8, 3001 Bern | Regional universal bank emphasizing mortgages, SME relationships, and local investment solutions. |
| Luzerner Kantonalbank (LUKB) | Pilatusstrasse 12, 6002 Lucerne | Lucerne’s cantonal bank focused on retail banking, housing finance, and advisory for entrepreneurs. |
| St.Galler Kantonalbank (SGKB) | St. Leonhard-Strasse 25, 9001 St. Gallen | Regional lender combining everyday banking with investment and pension advisory for households and SMEs. |
| Graubündner Kantonalbank (GKB) | Susenbergstrasse 29, 7001 Chur | Chur-based cantonal bank serving the canton with retail, corporate, and wealth services attuned to local needs. |
| Thurgauer Kantonalbank (TKB) | Bankplatz 1, 8570 Weinfelden | Thurgau’s regional bank offering current accounts, mortgages, SME finance, and investment products. |
| Basellandschaftliche Kantonalbank (BLKB) | Rheinstrasse 7, 4410 Liestal | Basel-Landschaft’s cantonal bank supporting local families, property owners, and small businesses. |
| Basler Kantonalbank (BKB) | Güterstrasse 118, 4002 Basel | Urban universal bank for the Basel region with strong retail, corporate, and investment solutions. |
| Banque Cantonale du Valais (BCVs) | Place des Cèdres 8, 1951 Sion | Valais lender financing homes, tourism, and SMEs while offering everyday accounts and savings. |
| Banque Cantonale Neuchâteloise (BCN) | Place Pury 4, 2001 Neuchâtel | Neuchâtel’s state bank focused on retail banking, local business credit, and investment guidance. |
| Banque Cantonale de Fribourg (BCF) | Bd de Pérolles 1, 1701 Fribourg | Fribourg’s universal bank providing day-to-day banking, mortgages, and corporate financing. |
| Banca dello Stato del Cantone Ticino (BancaStato) | Piazza Governo 4, 6501 Bellinzona | Ticino’s cantonal bank delivering retail services, SME support, and mortgage lending in Italian-speaking Switzerland. |
| Zuger Kantonalbank (ZGKB) | Bahnhofstrasse 1, 6301 Zug | Regional bank in Zug serving individuals, property investors, and entrepreneurs with tailored financing. |
| Schwyzer Kantonalbank (SZKB) | Bahnhofstrasse 3, 6431 Schwyz | Schwyz’s universal bank offering classic retail services, mortgages, and pension solutions. |
| Aargauische Kantonalbank (AKB) | Bahnhofplatz 1, 5001 Aarau | Aargau’s cantonal bank financing households and SMEs with a full range of banking products. |
| Nidwaldner Kantonalbank (NKB) | Stansstaderstrasse 54, 6370 Stans | Nidwalden’s regional bank with a focus on savings, lending, and advisory for local clients. |
| Obwaldner Kantonalbank (OKB) | Sarnenstrasse 19, 6060 Sarnen | Obwalden’s community bank providing daily banking, mortgages, and SME lending. |
| Glarner Kantonalbank (GLKB) | Hauptstrasse 21, 8750 Glarus | Glarus lender known for straightforward retail products, property finance, and digital channels. |
| Schaffhauser Kantonalbank (SHKB) | Vorstadt 53, 8201 Schaffhausen | Schaffhausen’s regional bank combining personal service with modern retail and SME banking. |
| Migros Bank AG | Seidengasse 12, 8001 Zurich | Consumer-centric bank offering everyday accounts, mortgages, investments, and pensions. |
| Bank Cler AG | Aeschenplatz 3, 4052 Basel | Retail bank with a digital mindset delivering simple accounts, savings, and lending solutions. |
| Julius Baer | Bahnhofstrasse 36, 8001 Zurich | Pure-play private bank focusing on discretionary mandates, advisory, and family wealth services. |
| Pictet & Cie | Route des Acacias 60, 1211 Geneva | Partnership private bank providing wealth management and institutional asset management globally. |
| Lombard Odier & Co | Rue de la Corraterie 11, 1204 Geneva | Heritage wealth manager offering bespoke portfolios, sustainable strategies, and family office support. |
| Bank Vontobel | Gotthardstrasse 43, 8002 Zurich | Investment-led bank combining asset management, advisory, and structured investment solutions. |
| Bank J. Safra Sarasin | Elisabethenstrasse 62, 4051 Basel | Private bank recognized for sustainable investing, brokerage, and tailored advisory. |
| Union Bancaire Privée (UBP) | Rue du Rhône 96-98, 1211 Geneva | Geneva private bank with strong alternative investments and institutional asset capabilities. |
| EFG International | Bleicherweg 8, 8001 Zurich | Entrepreneur-focused private bank delivering global wealth planning and investment services. |
| Mirabaud & Cie | Boulevard Georges-Favon 29, 1204 Geneva | Geneva house offering high-touch wealth management, brokerage, and asset management. |
| Swissquote Bank | Chemin de la Crétaux 33, 1196 Gland | Online bank and broker providing multi-asset trading, savings, and digital investing. |
| Hypothekarbank Lenzburg | Bahnhofstrasse 2, 5600 Lenzburg | Regional bank known for mortgages, SME finance, and open-banking technology initiatives. |
| FlowBank | Rue du Rhône 114, 1204 Geneva | Digital bank and broker offering online trading, custody, and multi-currency accounts. |
| Dukascopy Bank | Route de Pré-Bois 20, 1215 Geneva | Online bank specialized in FX/CFD trading, multi-currency accounts, and payment cards. |
| Banque SYZ | Quai des Bergues 1, 1201 Geneva | Independent Swiss private bank focused on active management and discretionary mandates. |
| Edmond de Rothschild (Suisse) | Rue de Hesse 18, 1204 Geneva | Private bank combining entrepreneurial wealth management with private markets expertise. |
| Bordier & Cie | Rue de Hollande 16, 1204 Geneva | Family-owned private bank delivering bespoke portfolios and multi-jurisdiction solutions. |
| Rahn+Bodmer Co. | Talstrasse 15, 8001 Zurich | Zurich private bank offering traditional wealth stewardship with modern investment tools. |
| Maerki Baumann | Dreikönigstrasse 6, 8002 Zurich | Owner-managed private bank focusing on investment counsel, custody, and crypto-related services. |
| Banque Bonhôte | Rue du Musée 8, 2000 Neuchâtel | Neuchâtel private bank specializing in discretionary management and thematic strategies. |
| Banque Heritage | Route de Chêne 61, 1208 Geneva | Geneva private bank delivering bespoke wealth planning and multi-asset investment access. |
10 Best Things to Do in Zurich, Switzerland in 24 Hours
Tick off Zurich’s highlights with lakefront strolls, Old Town lanes, and easy viewpoints.
- Grossmünster – climb the tower for classic city panoramas. Jump to map
- Fraumünster – admire Chagall’s stained-glass windows and serene nave.
- Uetliberg – ride up to Zurich’s local mountain for sweeping alpine views.
- Bahnhofstrasse – stroll the luxury boulevard from Hauptbahnhof to the lake.
- Lake Zurich cruise – see the city skyline from the water.
- Zurich Opera House – catch a performance or tour the landmark venue.
- Lindenhof – pause at the hilltop park above the Limmat.
- Swiss National Museum – dive into Swiss history beside the main station.
- Niederdorf (Old Town) – wander medieval alleys and cozy cafés.
- Kunsthaus Zürich – explore the city’s premier art collection.
10 Best Hotels in Zurich, Switzerland
- Baur au Lac – lakefront grande dame with private park and Michelin cuisine.
- The Dolder Grand – hilltop resort blending art, spa indulgence, and skyline views.
- Widder Hotel – boutique luxury across restored medieval townhouses.
- Storchen Zürich – historic riverside hotel with a chic rooftop terrace.
- Park Hyatt Zurich – contemporary five-star in the business quarter.
- La Réserve Eden au Lac Zurich – Philippe Starck-reimagined icon with yacht-club vibe.
- Mandarin Oriental Savoy, Zurich – revived classic steps from Paradeplatz.
- Atlantis by Giardino – urban resort beneath Uetliberg with acclaimed dining.
- Kameha Grand Zurich – playful design-led stay in a modern district.
- Alex Lake Zürich – intimate lakefront suites with private boat transfers.
10 Best Things to Do in Geneva, Switzerland in 24 Hours
Blend lakeside icons with Old Town charm and international landmarks.
- Jet d’Eau – the soaring lake fountain and city emblem. Jump to map
- Jardin Anglais & Flower Clock – Geneva’s watchmaking tribute in blooms.
- Old Town (Vieille-Ville) – cobbled streets and intimate squares.
- St. Pierre Cathedral – towers, archaeology site, and Reformation heritage.
- Reformation Wall – monumental tribute in Parc des Bastions.
- Palais des Nations – tour the UN’s European headquarters.
- Red Cross Museum – immersive humanitarian storytelling.
- Carouge – bohemian district with Sardinian flair.
- CERN – science exhibits at the world’s largest physics lab.
- Bains des Pâquis – swim, sauna, or fondue by the lake.
10 Best Hotels in Geneva, Switzerland
- Four Seasons Hotel des Bergues – 1834 lakeside icon with rooftop spa.
- Beau-Rivage Genève – family-owned palace facing the Jet d’Eau.
- Mandarin Oriental, Geneva – refined riverside retreat on the Rhône.
- The Ritz-Carlton Hotel de la Paix – Art Deco chic on Quai Mont-Blanc.
- Fairmont Grand Hotel Geneva – resort-style complex on the lakefront.
- Hotel d’Angleterre – boutique elegance with postcard views.
- La Réserve Genève Hotel & Spa – secluded parkland luxury with boat shuttle.
- Hotel President Wilson – contemporary glamour and lavish spa.
- The Woodward – all-suite lakefront hideaway with haute dining.
- Hôtel Métropole Genève – Left Bank classic with rooftop lounge.
10 Best Things to Do in Basel, Switzerland in 24 Hours
Art, architecture, and Rhine-side living define Basel’s effortless charm.
- Basel Minster – Gothic landmark with river vistas. Jump to map
- Old Town & Marktplatz – cobbles, boutiques, and markets.
- Town Hall (Rathaus) – vivid façade and historic courtyard.
- Tinguely Fountain – kinetic whimsy by the theater.
- Spalentor – storybook city gate from the 14th century.
- Mittlere Brücke – historic bridge linking the banks.
- Kunstmuseum Basel – Switzerland’s oldest art museum.
- Fondation Beyeler – modern masterpieces in a serene park.
- Rhine swim & ferries – float downstream or ferry across.
- Zoo Basel – beloved city zoo with diverse habitats.
10 Best Hotels in Basel, Switzerland
- Grand Hotel Les Trois Rois – historic Rhine-side palace with three-star dining.
- Hotel Basel – upscale Old Town base with a cozy brasserie.
- Der Teufelhof Basel – art-hotel pairing culture, cuisine, and theater.
- Volkshaus Basel – design-driven boutique by Herzog & de Meuron.
- Hotel Krafft Basel – timeless boutique on the Rhine promenade.
- Hyperion Hotel Basel – modern high-rise by the Messe.
- Pullman Basel Europe – polished comfort near Congress Center.
- Basel Marriott Hotel – contemporary rooms and sizable meeting space.
- GAIA Hotel Basel – family-run hospitality steps from the station.
- Mövenpick Hotel Basel – sleek new build with city-view spa.
10 Best Things to Do in Lugano, Switzerland in 24 Hours
Sunny Ticino mixes Mediterranean style with Swiss ease on a glittering lake.
- Lake Lugano cruise – glide past villages and mountain peaks. Jump to map
- Monte San Salvatore – funicular to 360° views.
- Monte Brè – sunlit summit with hiking trails.
- Parco Ciani – elegant lakeside gardens and paths.
- Old Town & Piazza della Riforma – arcades, cafés, and piazza life.
- LAC Lugano – contemporary arts center on the waterfront.
- Gandria – postcard village reached by boat or trail.
- Morcote – exquisite lakeside village with terraced gardens.
- Swissminiatur – Switzerland in miniature at nearby Melide.
- Olive Grove Trail – gentle hike with lake panoramas.
10 Best Hotels in Lugano, Switzerland
- Hotel Splendide Royal – Belle Époque grandeur on the lakeshore.
- Grand Hotel Villa Castagnola – lush park setting with private lido.
- Villa Principe Leopoldo – hillside suites and panoramic dining.
- The View Lugano – yacht-inspired all-suite boutique.
- Swiss Diamond Hotel – lakeside escape with beach and spa.
- Villa Sassa Hotel, Residence & Spa – wellness-oriented hilltop retreat.
- Kurhaus Cademario – altitude spa hotel with vast views.
- LUGANODANTE – smart urban base by Piazza Cioccaro.
- Hotel de la Paix – classic villa near lake and center.
- Suitenhotel Parco Paradiso – spacious suites and scenic dining.
