What is the Best Swiss Bank in 2026?
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(Disclosure: Some of the links below may be affiliate links)
Unless you live entirely off the grid and get paid in cash, you need a bank account. But which Swiss Bank should you choose?
There are tons of Swiss banks. After all, Switzerland is the country of banks. However, contrary to popular belief, Swiss banks are not great!
Most Swiss banks are costly and offer poor service. You can find much cheaper and better banks in other countries. Fortunately, this situation is improving with new banks trying to break the status quo.
Which is the best Swiss bank? But first, let’s consider how to choose a bank!
How to choose a bank?
You can use many criteria to compare banks. We see the most important parameters. Of course, your needs may be different from mine. So, the best Swiss bank for me may not be the best for you!
The parameters will also depend on what you need. But here are the things most people need from a bank:
- A checking account to get their salary.
- A debit card to withdraw cash when you cannot use your credit card.
- Possibly, a savings account. But not everybody needs one. I have not used one in years.
You will also need a credit card. However, the best credit cards are not the ones you can get from a bank! I would encourage you to have a separate credit card from your bank account. If you do not know which one to choose, you can read about the best credit cards in Switzerland. So, for our comparison of banks, we will ignore credit cards.
The Base Price
First, you need to consider the price of the bank account. These days, you can find free bank accounts in Switzerland. So there is no reason to pay anything for a bank account!
You need to be aware that some Swiss banks have conditions that make it free. For instance, my current bank, Migros Bank, used to be free only as long as I had 7500 CHF in my bank account (this fee has since been waived). These limitations were not an issue for me, as I generally keep about 10,000 CHF on my account. But it could be an issue for people having less than that.
So, before you choose a bank account, you need to know how much you will keep in your account.
The price of features
The base price of a bank account is essential, but we should also consider the prices of the features.
First, you want a free debit card. You can find several banks with free debit cards, so there is no reason to pay for a debit card! You should not use it too much, of course. You should only use it to withdraw money. And you can use it if you cannot use a credit card.
Of course, you want to be able to do bank transfers in Switzerland for free! You do not want to pay extra money to pay your bills! You will also need bank transfers to send money to your broker (Interactive Brokers, for instance).
You may want cheap bank transfers in Europe in euros. This feature is not mandatory since you generally do not want to use your bank account for this. For this, you probably want to use a digital bank to save on fees and bad conversion rates.
Finally, you want to be able to withdraw some cash for free! There are always some cases where you will need cash, and you do not want to have to pay to get some money!
The security of the bank
Even if you do not keep much money in your bank account, you want your money to be safe.
For that, you should keep your money in a Swiss bank account. All Swiss bank accounts are insured for up to 100’000 CHF. If your bank goes bankrupt, you still get your money back.
You must ensure the money is kept in an institution with a Swiss banking license. You should not consider small startups that may not yet have a banking license.
If you are serious about security, learn how to secure your online finances!
Access to the bank services
For this one, it will highly depend on you. You need to decide how much access you want to your bank account.
Some people want an actual office with people in case they have an issue. I do not care about that. But that is not the case for everybody!
And also, sometimes, people want a local bank. They feel like they can trust a regional bank more. We have plenty of cantonal banks in Switzerland, and people seem to like them. This would be one of the last points I would use to compare the two banks. But if you want, that is something you can consider! I prefer to look at the ATMs of that bank rather than the bank itself.
Some people want a mobile application, and some, like me, prefer a web application. If you want a mobile or web application, you may want to ensure it works well, but you do not need to use your bank application a lot.
I use my bank account monthly to pay all my bills. Except for that time, I rarely check my bank account. As long as I can do that relatively quickly, I do not care how to do that. But I want to be able to do that from home.
But some people check their bank accounts daily. For these people, it is essential to have a powerful application that works well. If you are one of these people, I encourage you to find reviews of bank mobile apps and maybe demos so that you can get a feel for them.
One important thing is where you can withdraw money for free!
Features of the bank
Finally, the least important thing about a bank is its features.
You do not need anything fancy with your bank. For instance, I only use four features with my bank:
- Getting my salary in.
- Paying my bills by scanning them with my phone or computer.
- Transfer money to my broker.
- Withdraw cash from time to time.
That is it! And I do not think that people need any more features than that.
But if you need it, you could consider a few things.
One thing many people want to have is electronic bills. I do not like them. Using electronic bills will bind you with a bank. And that is bad. You want to be able to change to a new bank very easily. But some people like it and cannot live with it. So you could use that as an argument.
Some people also want to transfer transactions to their fancy budgeting tools, such as YNAB or Personal Capital. Once again, I do not think this is useful. You do not need any fancy budgeting tool. You need a simple spreadsheet. And you can even have some budget applications for free! I do not understand people willing to pay for a budgeting tool.
Managing your budget with a simple spreadsheet will take you fifteen minutes a month! But if you want, this could limit your bank choice. I do not think it is a good argument, but that is up to you!
Some banks have even more features than that. Some banks try to do your budget for you, for instance. Some banks have features to automate bank transfers between accounts. But do you need that? Ultimately, deciding which feature is worth it will be up to you.
The two Best Swiss Banks
Based on these arguments, here are the two best Swiss banks:
- Alpian is the best digital Swiss Bank.
- Migros Bank is a good traditional Swiss Bank.
I decided to choose one digital bank and one standard bank. Because some people do not yet want to move to a digital bank, I can understand them. And as it turns out, there are still some great Swiss Banks!
Furthermore, digital banks currently have more limitations. So, it still makes sense to have a traditional bank account.
And, of course, there are other Swiss banks than these two. And some of them are pretty good. But I would rather not give you a list of too many banks. That would be a waste of time for you and me! There is more value in a shorter list with two good banks.
The Best Digital Swiss Bank in 2026: Alpian
Alpian is a premium digital bank, aiming to help affluent people with their money without paying the outrageous costs of traditional private banks.
Use the code POORCH to receive up to a 120 CHF reward.
Alpian was founded in 2022. Alpian is an entirely digital bank. That means they do not have any office that you can walk in. Of course, they have some form of customer service. But all your operations will need to go through the mobile app.
Given its wide range of features and low price, Alpian is currently the best digital Swiss bank.
If you open a Alpian account, please use the code "POORCH" during the registration process, and you will receive up to 55 CHF.
The Base Price
Price is where Alpian excels! The base price of a checking account with Alpian is free! That’s right. You will not pay any management fees! And you do not need a specific amount of money on your account for this to be valid!
Not all operations are free. For instance, you will still have to pay to transfer money abroad or receive money in foreign currencies, but these are exceptional events.
The price of features
The price of features at Alpian is also excellent!
You can make free payments in CHF in Switzerland. These payments are for all our bills and money transfers!
With the card, you can purchase things online and abroad in foreign currencies for 0.20% only! These cheap purchases abroad are probably one of the most significant advantages of Alpian.
Alpian does not offer a Maestro card. Instead, it provides a Visa Debit card. You will need to pay 60 CHF to get your card delivered.
You can also use your Alpian card with Google Pay and Apple Pay. So you can pay in many shops.
Finally, you will have to pay 2 CHF for each withdrawal. This can be a significant disadvantage.
The safety of the bank
All Swiss bank accounts are insured for up to 100,000 CHF. Since Alpian is licensed by FINMA, you get this deposit protection in your account.
So, as long as you do not have over 100,000 CHF, your money is fully insured!
Access to the Bank
Access to the features of the bank is entirely on your phone. That means that your bank is always in your pocket!
You can use all ATMs in Switzerland to withdraw money, which is great because this is not the case for many banks!
Another great thing is that the website is entirely translated into all national languages and English! The application itself is also available in English! If you are an expat and do not yet speak one of the national languages, this could be essential to you!
Finally, customer service is available by email and by phone. For banking features, you cannot talk to people directly in person. But there are some in-person services if you want to do wealth advisory services.
Features
Overall, Alpian has more than enough features for most people. The mobile application is excellent and easy to use.
You can:
- Scan your QR bills to pay them
- Pay e-bills
- Hold multiple currencies in the app
- You can get virtual cards in the app
This should be enough for many people. There are two main features currently missing:
- Alpian does not have a TWINT app, so you need to use the TWINT prepaid app.
- You cannot export statements from the app; you need to wait until you get your PDF statement at the end of the month.
A good traditional Swiss bank in 2026: Migros Bank
If you prefer a standard brick-and-mortar Swiss bank, Migros Bank is an interesting option. I am using Migros Bank as my main bank account.
I would not say Migros Bank is the best traditional bank because it has some significant issues (mostly its apps). However, options in traditional banks are not great.
You can get both individual and joint accounts with Migros Bank. The conditions are the same.
One thing you need to be aware of is that the application is not available in English. If you are an ex-pat and do not speak one of our national languages, I recommend going with Alpian instead.
The Base Price
We start with the base price. Checking and savings accounts are free.
The price of features
Most of the features you use are free with Migros Bank.
First, you can make payments for free in CHF in Switzerland. So you can pay your bills and transfer money for free!
The Visa debit card is free. You must pay 30 CHF per year if you want an additional card. Migros Bank even has a free credit card. However, it is not among the best credit cards available.
Withdrawing money in all the places I mentioned before is free of charge. You can withdraw money as many times per month as you want! But if you want to withdraw from another ATM, you will pay 2 CHF per withdrawal.
However, SEPA payments in euros are not free! You will pay 0.30 CHF per payment in EUR abroad. I think this fee is a bit disappointing. But it should not be an issue if you do not get too many incoming payments.
You should not use the Migros Bank card to make payments abroad. They will be costly. Alpian is much better for this.
The safety of the bank
Migros Bank is a licensed Swiss bank. As such, your money is protected for up to 100,000 CHF. This protection is the best security you can get for your money in Switzerland.
Access to The Bank
Since Migros Bank is a standard brick-and-mortar Swiss bank, you can access its service in offices. That means you can do transactions in the office and get customer support there. Actual customer support is the main difference with a fully digital bank.
There are plenty of Migros Bank offices in Switzerland. If you live in a city, you should have access to one. Otherwise, the nearest town should have one!
And, of course, you will also have access to the bank services through the Migros Bank mobile application. And they also have a desktop application for Windows and Mac.
Finally, if you want to withdraw money, you have many choices! You can withdraw cash with your Migros Bank debit card in:
- Migros Bank offices
- Migros shops
- Migrolino shops
- Migrol shops
- Denner shops
This list makes up many places where you can withdraw money! It takes time to get used to it since people are used to withdrawing cash from banks. But now, I always withdraw money in Migros shops.
Features
For features, nothing is missing with Migros Bank.
All the basic features are here. You can get report statements in PDF, scan bills with your phone, and access electronic bills (e-bills).
Migros Bank also has an e-banking platform. However, you still need your phone to log in to your e-banking, but the advantage is that it supports every computer (since it is web-based), and you can use a big screen.
The new applications came in 2023. At the beginning, it was even worse than the old ones. But they have gotten better. As of 2025, the apps are now in a good state.
Swiss Banks Summary
We can summarize our findings with this comparison table of the best Swiss banks:
|
Best Digital Bank
|
Good traditional bank
|
|
4.5
|
4.0
|
|
Free
|
Free
|
|
|
|
|
- Pay abroad for cheap
- Transfer money abroad for a good fee
- Everything from your phone
- Good mobile application
- Cannot deposit cash easily
- Mobile-only
- High limits
- Good withdrawals
- Can deposit cash easily
- Mobile and desktop applications
- Expensive purchases abroad
- Expensive transfers abroad
- Poor mobile app
And here are the compared fees of both banks:
| Bank | Alpian | Migros |
|---|---|---|
| Management fees | 0 CHF | 0 CHF |
| Incoming transfer | 0 CHF | 0 CHF |
| SEPA payment | 0 CHF | 0.30 CHF |
| Foreign currency or abroad payment | About 0.20% | About 2.0% |
| Foreign currency transfer | About 0.20% | About 2.0% |
Alternatives
Of all the banks I considered, these two were the best.
There is one group of banks we need to mention: cantonal banks. Cantonal banks are generally providing great value for money. I did not mention any cantonal bank in this article because they are, by definition, local banks. I would have to make one article per canton.
But for instance, the Zuger Kantonalbank provides excellent value, and so does the Freiburg Kantonalbank from my canton, Fribourg. You can also read my Zürcher Kantonal Bank review for an example.
I have also reviewed other brick-and-mortar banks, such as Raiffeisen and PostFinance.
And I also compared some other digital banks like Neon, Yapeal and Yuh. But they are not as good as Alpian. If you want me to compare other Swiss banks, please let me know in the comments below, and I will see what I can do.
What about the most famous Swiss bank, UBS (my UBS review)? These banks are not bad, but they are expensive. I do not believe they provide enough value to justify their price. So, you can get much better value for your money by using the two best Swiss banks I have outlined in this article. In fact, even traditional banks are starting to create digital packages to compete with digital banks:
So, it is great to see that better digital banks have a positive impact on the overall banking offer.
Comparison tool
If you want to find the best bank for your needs, you can use our bank comparison tool.
Conclusion
Alpian is a premium digital bank, aiming to help affluent people with their money without paying the outrageous costs of traditional private banks.
Use the code POORCH to receive up to a 120 CHF reward.
The best Swiss bank is currently Alpian. And a good traditional bank is Migros Bank.
The choice of a Swiss bank currently boils down to whether you want a digital bank. If you want a digital Swiss bank, you can go with Alpian. If you prefer a Swiss bank with an office, choose Migros Bank.
These Swiss banks are cheap and offer a good set of features. I have used both banks. We currently use Migros Bank as our main joint account.
There are a few things that keep me at Migros:
- The fact that my mortgage is at Migros Bank.
- The web interface can be very helpful.
- The lack of a real TWINT app.
Overall, Alpian is better than Migros Bank for me.
Learn more about these Swiss banks with my detailed reviews:
If you open a Alpian account, please use the code "POORCH" during the registration process, and you will receive up to 55 CHF.
What about you? Which of these two Swiss banks do you prefer?
More reading
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7 Simple Steps to Change Bank Account in 2026
Switch banks easily. Follow these 7 simple steps to change your bank account in Switzerland without stress and start saving on banking fees.
Neon vs Revolut: Which is best for you in 2026?
Neon and Revolut are both digital bank accounts with free payments abroad. So between Neon vs Revolut, which should you choose? We find out!
Learn easy ways to optimize your finances and save thousands in Switzerland with our exclusive e-book. Learn about the most cost-effective financial services tailored for savvy residents and expats!
Get Your FREE Swiss Money-Saving Guide
Hi Mr. Poor Swiss,
Great article, I agree with the online banks but not with the standard banks. Personally I use Credit Agricole and it has many advantages compared to Migors: Free withdrawal at all ATMs in Switzerland, free incoming transfer, English App, good EUR rate, free transfers to SEPA, 0.3% interest rate on your savings… And yes you need to keep 20k CHF, but given that your safety money should cover 6-9 months of expenses that is not so much…
Hi Alex,
Thanks for sharing your experience with Credit Agricole. It is indeed very interesting.
However, as you said, you need to keep 20k CHF. Personally, I am only keeping 2 months of expenses as an emergency fund. This is significantly lower than 20K. So I would have to pay 15 CHF per month which is too high for me.
But it’s true that for people with larger emergency funds, CA is a very good choice.
Thanks for stopping by!
Hello Mr. ThePoorSwiss
I currently have UBS bank, it has a lot of useful features, but I find quite disappointing its 10/15 CHF price per month (10 if you have 10k+ CHF).
Do Migros and Neon bank offer:
> Saving accounts (i.e. I receive my salary in my main account, and I move a portion in one of the saving accounts for emergencies, holidays, etc) keeping the rest in the main account for daily expenditures
> Some sort of mobile app for fast payments (I usually receive stuff to pay in that orange/red bill and I use the camera to maka a picture of a code and automatically pay it)
Thank you!
Hi Alessandro,
Yes, Migros Bank offers a savings account. I personally keep everything in the default account, but you can have several accounts if you want.
And yes too, they have a mobile app (not a great one but it does the job well enough). You can scan bills from the app without issues.
I should make this more clear in the article, thanks for mentioning this.
Hi Mr PoorSwiss,
I’ve discovered your blog while searching more info about Revolut and that was useful. I have already found many interesting articles in your blog and I am still discovering it. Thank you for sharing your knowledge and experience!
By the way, in the end I have opened a Revolut account and so far I am quite satisfied. Today I opened a Neon account (I have used your reccomendation code, thanks!), as I am planning to move away from my current (expensive!) bank ASAP.
Just a note: As of May 1st 2020, Neon will charge 10 CHF for the issuing of the first plastic card. Not much, but perhaps worth mentioning.
Cheers,
Gabri
Hi GabriS,
I am glad you found my articles useful :) And thanks for using my code!
Thanks for letting me know about the fee, I need to update the posts about Neon to make this clear.
Thanks for stopping by!
Thank you for such detailed analysis! However I would like to point that Neon has a 10kCHF a month withdrawal limitation which prevents me from using it as the only bank account. This limit is generally not a problem, but in case you change broker or buying a house, you might find such limit disastrous.
What limits are there with neon?
The current daily transaction limit is 24’000 CHF. With your card, you can withdraw up to 1’000 CHF cash per day, spend 5’000 CHF online and another 5’000 CHF in stores every day but your monthly max limit is 10’000 CHF.
Hi Dmytro,
That’s interesting, I never thought this was a problem. I was thinking this only applied to transactions with the card.
Are you sure this apples with everything? In the case of a house or a car, you could do a bank transfer.
I am going to ask them about that.
Thanks for pointing that out.
P.S. I removed all your other duplicate comments. I hope it was a mistake you posted them several times.
Hey there!
Did they ever replay back? I’m just moving to Switzerland and need to open a bank and changing my broker. So this limit could be an annoying problem
Hi Yaron,
I am not sure what you mean with replay back?
The limit for transactions is 30’000 per day. So you can spend 60’000 in two days, 90’000 in three, …
But the monthly limit for the card is 10’000 CHF, which is per month.
Not sure that answers your question though.
Thank you for doing this analysis, which as a recent arrival in Switzerland I found v helpful. I was all set to open a Neon account when I noted the following in their list of fees: CHF 100 per hour plus all external fees for administration of dormant accounts and “special investigations” (including complaints regarding payments. See p.4 here: (https://www.neon-free.ch/media/neon_services_and_prices.pdf).
Needless to say, I find that quite shocking. That’s an extortionate amount for what is essentially customer service. I asked if the amount gets refunded if a payment complaint is upheld but they refused to confirm, saying only that they’ve not relied on this clause before. I am somewhat worried that if you query a payment on your card, you face a somewhat unlimited exposure to Neon stinging you on fees.
Just thought I’d flag as that really puts me off the idea of opening such an account.
Hi AFB,
This is quite interesting. I agree that this is very expensive. I never saw that before.
On the other hand, this is something that should almost never happen. I never had to use such services for any of my previous banks. So I do not think I will need to use them.
But I still agree that’s too much for customer service.
Thanks for sharing!
Hello,
Great article.
I am also at the Migros Bank, but I just called them to ask about “the fee of 0.20 CHF for each incoming transfer” and they told me it is not the case if the money is coming from Switzerland…
Strange…
Let me know if I understood what you explain properly.
Thanks a lot for your great articles…and your amazing blog
Hi Cat,
You are absolutely right! I have been using this account for a while and I have never had a fee of 0.20 CHF.
But I completely forgot to update the article.
Thanks for sharing the details. I actually did not know it was only for outside Switzerland.
I will update the article accordingly.
Thanks for stopping by!
Love the article and the blog Mr. The Poor Swiss. This is especially helpful since I am moving to Geneva early next year. I think you should update the article about the 0.20 CHF because I would have missed it if it wasn’t for this comment :)
Hi Sak,
Thanks for the kind words and the suggestion. This fee was already present on the article, but I have tried to emphasize this point on the Migros Bank part.
Thanks for stopping by!
Hello
Did you try Bank Cler ( ZAK ) which also seems a free option? Can you compare it with Neon and Migros?
Hi Rgc,
I did not try it personally no. I think their offer is quite similar to the offer of Neon. But they do not have an English translation. This is why I did not talk about them.
But they are also free for basic usage.
Thanks for stopping by!
I was with UBS but I moved over to BKB 04 years back and I love the change. Their website is great, their mobile application is amazing and the service is good as well. Have no reasons to complain or go back to UBS. Did you consider BKB or any of the Kantonal Banks at all?
P.s. enjoy reading your posts. You are doing a great job 👍🏾
Hi Sharma,
Thanks for the kind words :)
I tried to check as most banks as possible and take the best (the cheapest one) out of the lot.
I just looked at their prices and it seems that it’s not free. The cheapest account seems to be 1 CHF per month with some extra for the debit card. How much do you pay for your bank account?
Thanks for stopping by!
I’ve opened a bank account at Migros half a year ago and the 2-factor authentication is a joke. There is a solution though, after one transfer, you can mark the receiver as trusted and you don’t need a 2nd device to confirm it. You can say it’s good somewhere, but also bad.
Hi Andras,
I completely agree. Their 2-factor authentication is the worst thing I have ever seen. I almost closed my account right away after I saw this.
I did that for every one of my receivers since I do not have a second device to confirm it. Every time I do have to confirm, I have to use my work laptop.
It’s not two-factor authentication in my mind, and it’s just bad design.
I am glad I am not the only one thinking like that!
Thanks for stopping by!
Al in all, Raiffeisen is the cheapest bank as we take advantage of the free entrances to many museums in Switzerland for the rainy days with our kids ;-)
These benefits from Raiffeisen’s Member Plus program more than compensated the annual fees
Hi Judit,
That’s a good point! I didn’t consider all the possible advantages of some banks. As long as you use enough these advantages, especially with kids, I am sure there are some other banks that can be very interesting. I have heard a lot of good things about these Museum passes in Raiffeisen.
Thanks for sharing :)