Finance in Zurich
Banking & Wealth Services for Expats
Zurich is Switzerland's financial capital with UBS, Credit Suisse, and innovative neobanks (Yapeal, Neon, Revolut). ReloFinder helps you compare providers and open accounts efficiently. We connect you to trusted partners — we don't provide banking services ourselves.
ReloFinder is a comparison platform. We help you evaluate relocation providers and choose the right agency for your needs. We do not deliver these services ourselves.
Need Help Setting Up Your Zurich Finances?
Get expert support for banking, wealth management, and tax planning
Our relocation partners with us and gives free consultations to users
Why Finance in Zurich Matters for Expats
Global Banking Hub
Paradeplatz houses UBS & Credit Suisse headquarters. Access world-class private banking, wealth management, and comprehensive financial services.
Learn moreNeobank Options
Yapeal, Neon, and Revolut offer English-friendly digital banking with fast onboarding (1-3 days), no minimum balance, and multi-currency support.
Compare neobanksPrivate Banking & Wealth
CHF 1+ million: Access UBS Wealth Management, Credit Suisse Private Banking, Julius Baer. Portfolio management, estate planning, alternative investments.
Explore wealth servicesProgressive Tax System
Canton Zurich: 25-35% combined income tax. Wealth tax 0.1-0.5%. Pillar 3a retirement savings (CHF 7,056/year) tax-deductible. Professional planning essential.
Tax detailsDocumentation Requirements
Passport, Swiss permit (B/L/C), Zurich address proof, employment contract. Traditional banks require more docs; neobanks streamline the process.
See checklistInsurance & Compliance
Health insurance mandatory within 3 months (CHF 300-500/month). Expert guidance via Expat-Savvy.ch.
Get insurance helpNeobanks vs Traditional Banks
| Provider | Swiss IBAN | Onboarding | Multi-Currency | Min. Balance | Typical Use |
|---|---|---|---|---|---|
| Yapeal | ✅ Yes (CH) | 1-3 days | ✅ Yes | None | Salary + daily banking |
| Neon | ✅ Yes (CH) | 1-3 days | Limited | None | Basic account + bills |
| Revolut | ⚠️ LT IBAN | Instant (app) | ✅ Excellent (30+) | None | FX + intl. transfers |
| UBS | ✅ Yes (CH) | 1-3 weeks | ✅ Yes | Varies | Full-service (loans, investing) |
| Credit Suisse | ✅ Yes (CH) | 1-3 weeks | ✅ Yes | Varies | Full-service, private banking |
| Raiffeisen | ✅ Yes (CH) | 1-2 weeks | ✅ Yes | Low | Mortgages, local presence |
Recommended hybrid approach: Use Swiss neobank (Yapeal/Neon) for salary & bills with CH IBAN + Revolut for FX and international transfers. Add UBS/Credit Suisse/Raiffeisen later for mortgages, investments, or wealth management.
Documents Checklist
Essential for All Banks
- Valid passport (6+ months validity)
- Swiss residence permit (B, L, C, or legitimation card)
- Proof of Zurich address (rental contract or Kreisbüro confirmation)
Additional (Traditional Banks)
- Employment contract (showing salary, role, employer)
- Recent salary slips (2-3 months if already working)
- Tax returns or wealth statements (for private banking)
- Business docs (for company accounts)
💡 Pro tip: Arriving soon? Start with Yapeal/Neon for immediate banking (1-3 days), then layer a traditional bank (UBS/CS/Raiffeisen) later if you need mortgages, investments, or wealth management.
Your Zurich Finance Setup Process
Choose Banking Strategy
Basic expats: Neobank (Yapeal/Neon) + Revolut. Middle-income: Add UBS/CS premium. HNWI (CHF 500k+): Private banking via agency introductions.
Gather Required Documents
Passport, permit, address proof (all banks). Employment contract & salary slips (traditional banks). See checklist above for complete list.
Open Account & Activate Payments
Neobanks: Download app, upload docs, activate in 1-3 days. Traditional: Branch appointment, account opens in 1-3 weeks. Provide IBAN to employer for salary.
Tax Consultation (Zurich Canton)
Arrange consultation within 3 months. Understand 25-35% combined rates, wealth tax, pillar 3a deductions (CHF 7,056/year). Agencies coordinate with Zurich tax advisors.
Insurance Setup via Expat-Savvy.ch
Health insurance mandatory within 3 months (CHF 300-500/month). Expert guidance at Expat-Savvy.ch. Compare providers: Helsana, CSS, Swica, Sanitas.
Explore Zurich Banking
Paradeplatz & Traditional Banking
Zurich's Paradeplatz (Parade Square) is the epicenter of Swiss banking:
- UBS headquarters: World's largest wealth manager, expat banking services, English-speaking staff at major branches
- Credit Suisse: Private banking for HNWI, investment services, premium accounts
- Raiffeisen: Cooperative bank, competitive mortgage rates, local presence across Zurich
- Bahnhofstrasse: Flagship branches of all major banks connecting Paradeplatz to main train station
Traditional banks require employment contracts, residence permits, and often significant deposits (CHF 50k-250k for private banking).
Neobank Details (Yapeal, Neon, Revolut)
Digital-first banking revolutionizing expat finance in Zurich:
- Yapeal: Swiss FINMA-licensed, CH IBAN, multi-currency, English app, instant onboarding, sustainability focus
- Neon: Swiss digital bank via Hypothekarbank Lenzburg, free account, cashback programs, excellent UX
- Revolut: Multi-currency champion (30+ currencies), real-time FX, crypto support, Lithuanian IBAN (LT prefix)
Hybrid strategy: Use Swiss neobank for salary (CH IBAN required by employers) + Revolut for spending and currency exchange. Add traditional bank later for mortgages/investments.
Private Banking & Wealth (CHF 1M+)
Zurich leads globally in private banking and wealth management:
- UBS Wealth Management: World's largest wealth manager, global investment platform
- Credit Suisse Private Banking: Discretionary portfolio management, alternative investments
- Julius Baer: Swiss private banking specialist, art financing, family office services
- Lombard Odier & Pictet: Independent Swiss banks, estate planning, cross-border expertise
Services: Portfolio management, retirement planning, estate planning (trusts, inheritance), tax-efficient investing, mortgages for property purchases. Relocation agencies facilitate introductions to private bankers.
Zurich Tax Overview (25-35% Combined)
Canton Zurich progressive tax system:
- Federal tax: 0-11.5% (applies nationwide)
- Cantonal tax: 2-15% (varies by municipality)
- Municipal tax: 2-10% (varies)
- Combined: ~25-35% in Zurich city (lower in suburbs like Zollikon, Küsnacht)
- Wealth tax: 0.1-0.5% on worldwide net assets
Tax-deductible: Pillar 3a retirement savings (CHF 7,056/year), mortgage interest, professional expenses, commuting costs. Declaration deadline: March 31. Agencies coordinate with Zurich tax advisors for double taxation treaties and optimization.
Insurance Essentials (Mandatory Health)
Swiss health insurance mandatory within 3 months of arrival:
- Premiums: CHF 300-500/month basic coverage (Zurich canton, varies by age and franchise)
- Providers: Helsana, CSS, Swica, Sanitas, Assura
- Franchise options: CHF 300, 500, 1000, 1500, 2000, 2500 (higher franchise = lower premiums)
- Expert consulting: Expat-Savvy.ch compares providers and explains coverage options
Other insurance: Household contents (CHF 100-300/year), personal liability (CHF 50-100/year, highly recommended), vehicle (mandatory for cars), life/disability (optional, common for families).
Key Facts for Zurich Finance
Frequently Asked Questions
Which banks in Zurich are most expat-friendly?
Most expat-friendly: Neobanks (Yapeal, Neon) for English apps and fast setup; Revolut for multi-currency. Traditional banks: UBS and Credit Suisse offer English support for premium/private banking; Raiffeisen provides local presence with competitive rates.
How do I open a bank account as an expat in Zurich?
Neobanks (Yapeal, Neon): Download app, upload documents (passport, permit, address proof), activate in 1-3 days. Traditional banks: Book branch appointment, bring employment contract and documents, account opens in 1-3 weeks. Most employers require Swiss IBAN (CH prefix).
What neobanks can expats use in Switzerland?
Yapeal (Swiss FINMA-licensed, CH IBAN, multi-currency), Neon (Swiss digital bank, free account, cashback), Revolut (multi-currency champion, 30+ currencies, real-time FX, crypto support). All require Swiss residence permit.
Is Revolut accepted in Switzerland for daily use?
Yes, widely accepted for purchases and ATMs. However, Revolut provides Lithuanian IBAN (LT prefix) which most Swiss employers won't accept for salary. Solution: Use Swiss neobank (Yapeal/Neon) for salary, Revolut for spending and currency exchange.
What documents are required to open an account in Zurich?
Mandatory: Valid passport (6+ months), Swiss residence permit (B/L/C), proof of Zurich address. Traditional banks also require employment contract and salary slips. Neobanks need only passport, permit, and address proof for basic accounts.
Where can I get help with insurance and tax planning in Zurich?
Health insurance (mandatory): Expat-Savvy.ch provides specialized consulting, comparing providers (Helsana, CSS, Swica). Premiums CHF 300-500/month. Tax planning: Relocation agencies coordinate with Zurich tax advisors for progressive cantonal rates (25-35% combined) and wealth tax optimization.
Trusted Zurich Finance Partners
Expert agencies with banking and wealth management experience
Prime Relocation
🏆 Preferred Partner- Bank account opening (neobanks & traditional banks)
- Introductions to UBS/Credit Suisse wealth managers
- Tax planning coordination & insurance setup
Our relocation partners work with us and provide free consultations
Other Trusted Zurich Specialists
Anchor Relocation
Zurich banking expertise with corporate client focus and wealth management introductions
Auris Relocation
Comprehensive relocation services helping expats navigate Zurich finance setup
ReloFinder is a Comparison Platform
We help you evaluate relocation providers and choose the right agency for your needs based on services offered, expertise, and client reviews. We do not deliver these services ourselves — we connect you with trusted agencies who specialize in Swiss relocations.
Ready to Set Up Your Finances in Zurich?
Get expert support for banking (Yapeal, Neon, Revolut, UBS, Credit Suisse), wealth management, tax planning, and insurance. Our trusted agencies ensure seamless financial setup in Switzerland's financial capital.
✓ Banking setup • ✓ Wealth management • ✓ Tax planning • ✓ Insurance via Expat-Savvy