Account, TWINT, sending money home: banking for newcomers
Big bank or smartphone bank? And how do you send money cheaply back home?
Redaktion swissexpat · 4 July 2026 · 5 min
Your first Swiss bank account can be opened faster than you think – the trick is to choose the right one and keep foreign-exchange costs under control.
Choosing an account type
Traditional banks offer branches and personal advice, but often charge CHF 5–15 per month. Smartphone banks usually charge no fees, can be opened in minutes and are perfectly adequate for day-to-day use. Many expats hedge their bets: a main account with a smartphone bank, later adding a cantonal bank for mortgages and pillar 3a.
The Swiss payments landscape
- TWINT: the ever-present mobile-payment system – from market stall to garage
- QR bill: scan invoices instead of typing them out
- eBill: invoices land straight in your e-banking – no more paper
- Debit card replaces cash almost everywhere
Sending money back home
Transfers from your home bank to accounts abroad are often expensive (poor exchange rate plus fees). Specialist transfer services usually cost a fraction – compare the actual rate, not just the headline fee. With regular payments, the difference can add up to several hundred francs a year.
It’s not the account fee that makes you poor, but the exchange rate nobody reads.
Editorial note. Status July 2026. No financial advice.
This article belongs to the “Arrival” phase. In the member area we calculate its deadlines for your own date and your canton. Create account