Banking

From Swisswiki

General

Forget the clichés of numbered account and anonymity. For everyday banking, you will have to furnish a passport or ID card to open an account. Non-Swiss nationals will have to provided proof they are allowed here (Permit B etc.)

Swiss banks operate in 'real time' just as most European banks. This means that a deposit to your account appears there within seconds - there is no waiting for anything to clear. Clearing does take place every day for inter-bank transactions though.

Generally, you are not permitted to overdraw your account, but this will depend on your financial status with the bank. If you need a loan (Kredit) then you must apply for it, not just take it.
Swiss banks do not generally use paper cheques/checks - for the last 10-15 years all over Europe, the use of cheques has become increasingly rare. The UK remains a somewhat unique exception in this case.

Incoming Sterling/Dollar cheques/checks will attract stiff charges (8 francs each). Payments from abroad should preferrably be made electronically. Paying bills, other than standing orders and direct debits, are made by a 'payment order form' to your bank. Bills are usually accompanied by a payment slip, orange for bank-payments or red for postgiro payments. Naturally both of these can be conveniently processed online with all Swiss banks.