How much does it cost to open and operate a Swiss corporate bank account for a company with frequent business payments?
Last update: 24 January 2024
In essence, the costs for opening and administering a corporate bank account in Switzerland with a foreign nexus correspond to your business's regulatory risk classification:
- Complexity of the company setup: Self-standing business with direct beneficiaries or group enterprise with corporate shareholders
- Ownership and management structure: Number of beneficial owners and company directors and their place of actual residence and effective management
- Geography of operations: G7 countries or emerging markets
- Type of company, type of industry, type of activity: Holding or operating company, start-up or established businesses, services or trade, old or new economy, manufacture or processing, B2B or retail
- Reputational risks: Low-profile or media exposure involving key company decision makers
- Daily payment traffic: Volume, frequency and urgency
- Quality of supporting documents: Complexity, source language and ready availability of corroborating evidence such as corporate documents, financial statements, audit reports, commercial contracts and invoices
- Usage of specialized payment instruments: Guarantees, letters of credit (LCs), documentary collections
Fair Pricing
A fair pricing takes into account the substantial costs for human and software ressources carried by the financial institution in order to provide regulated services while at the same time enabling the client to succeed.
Every payment is unique. No single pricing solution fits all customer types. 360pay determine the fee structure with their customers on an individual basis taking into account every company's special circumstances and payment needs.
360pay's fixed costs to open and manage a corporate business bank account in Switzerland, once regulatory approval is in place, are as follows:
- Account opening fee: CHF 2,000 upon IBAN issuance
- Account maintenance fee: CHF 2,000 per year
- Payment traffic: A percentage on payment traffic invoiced quarterly
- Foreign exchange spread above interbank rate: 0.30%