Closing Swiss bank accounts when leaving Switzerland
Close salary, joint and unused accounts about 2-4 weeks after your final Swiss payments and tax retentions are settled - typically the month after departure. Keep one Swiss CHF account open for 6-12 months to receive trailing items (final salary, tax refund, deposit return, pension correspondence), then close it once everything has cleared.
Overview
Closing accounts in the wrong order strands money, breaks standing orders for a final invoice, or leaves you without a Swiss IBAN when the tax office or pension fund needs to pay you. A simple sequence avoids all of it.
Closing accounts in the right order
- 1
List every Swiss account and policy
Salary account, joint account, savings, brokerage, pillar 3a, vested-benefits, life-insurance and credit cards. For each, note the IBAN, balance, linked direct debits and standing orders.
- 2
Redirect or cancel standing orders and direct debits
Health insurance, rent (deposit refund), Serafe, telecom, electricity, tax instalments, alimony, charitable orders. Move recurring CHF-side obligations to the kept account before closing the others.
- 3
Update your IBAN with employers, tax office and pension fund
Final salary, withholding-tax refund, vested-benefits and 3a pay-outs all need a valid IBAN. Many cantonal tax offices accept a foreign IBAN; pension foundations accept SEPA and often global wires.
- 4
Close salary and unused accounts first
Once the final salary and any bonus have cleared (typically 1-2 months after the last working day), close salary, joint and unused savings accounts. Keep written confirmation of closure - some Swiss banks charge dormancy fees if the closure was not properly recorded.
- 5
Keep one Swiss CHF account for 6-12 months
A single low-cost account (e.g. PostFinance, Yuh, Neon or a cantonal bank that supports non-residents) catches trailing items: tax refund or balance, deposit return from your landlord, late bonus, pension correspondence.
- 6
Convert or close once everything has cleared
After the final tax assessment and deposit refund, either close the remaining account or convert it to a non-resident account if you have ongoing Swiss ties (property, pension under management, family). Inform the bank of your new tax residence to keep CRS reporting accurate.
Frequently asked questions
Should I close my Swiss bank account when I move abroad?+
Close salary and unused accounts within a couple of months. Keep at least one CHF account for 6-12 months to receive tax refunds, deposit returns and pension correspondence - then close it once everything has cleared.
Can I keep my Swiss bank account after leaving Switzerland?+
Yes, many Swiss banks (PostFinance, Yuh, several cantonal banks, IBKR Switzerland) accept non-resident clients, often with higher fees or restricted products. Update your tax residence with the bank so CRS reporting is correct.
How long does it take to close a Swiss bank account?+
Usually 1-3 weeks once you have signed the closure instruction, balance is zero (or transferred) and no pending transactions remain. Keep the closure confirmation - it is occasionally needed for the new country's tax authority.
What happens to my Swiss IBAN at the tax office after I leave?+
The cantonal tax office can usually pay refunds to a foreign IBAN, but it is slower and a wrong digit can mean a 6-12 month delay. Keeping one Swiss account open during the final assessment year is the safer option.