Navigating Swiss Banking as an American Expat: A Persistent Challenge

It’s a difficult landscape for US nationals in Switzerland – but we strive to make it easier

For American nationals living in Switzerland, gaining access to even the most basic banking services remains surprisingly difficult. Despite Switzerland’s standing as a premier global financial center, many Swiss banks have become increasingly hesitant to accept US citizens as clients. This reluctance is largely driven by the high cost and complexity of complying with US regulations—particularly FATCA (Foreign Account Tax Compliance Act), which requires foreign banks to report detailed financial information on American account holders. As a result, Americans frequently encounter limited access, higher fees, or outright denial when seeking everyday financial services.

New fees reinforce the burden of compliance

The latest example of this growing challenge comes from Zürcher Kantonalbank, one of Switzerland’s largest cantonal banks. As of this year, the bank has introduced a new quarterly fee of CHF 90 specifically for US clients, citing the added costs of regulatory compliance. This amounts to CHF 360 per year—roughly USD 450 at current exchange rates. For example, even an American student at the University of Zurich, using a local bank account to cover daily expenses and rent, must now absorb this annual surcharge simply due to their citizenship.

Alpen Partners International – American clients are our focus

At Alpen Partners International, we understand these challenges and provide tailored solutions. As a Swiss-based, SEC-registered investment advisor, we are able to serve US nationals in the US, Switzerland, and abroad. Through our strong network of Swiss private and retail banks that accept American clients—when introduced through us as a trusted intermediary—we can facilitate access to essential services, including current accounts, mortgages, transactional banking, and global investment solutions.

A trusted partner for cross-border financial needs

Our award-winning Private Clients Services team has deep expertise in serving American individuals and families. Whether you need a straightforward bank account, financing for a home, or cross-border wealth management, we simplify the process and keep up with compliance at every step. In a world where being American can often complicate international banking, Alpen Partners International contributes to your peace of mind with dependable financial solutions for American clients in the US, in Switzerland, and abroad.