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Moving to Geneva- bringing cash/opening bank account

Hello,


I'm moving to Geneva next month and I'm wondering what to do for the first few days regarding accessing my money in USD.


Should I bring a limited amount in USD until I can open a bank account in Geneva and then transfer more money? Where should I exchange USD to CHF? ATM, bank or a currency exchange place? 


Thank you!

The text you are quoting:

Hello,


I'm moving to Geneva next month and I'm wondering what to do for the first few days regarding accessing my money in USD.


Should I bring a limited amount in USD until I can open a bank account in Geneva and then transfer more money? Where should I exchange USD to CHF? ATM, bank or a currency exchange place? 


Thank you!


Glenn AMay 26, 2018 @ 18:52
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Re: Moving to Geneva- bringing cash/opening bank account
Post 1

I suggest you bring some amount in USD and in Swiss franc as well if you can exchange in your country. That will help you the first few days until you open a USD account, if the bank lets you do so, as they have different regulations depending on what you do, where you are from, etc.


Moreover, if you open a USD account you will have to pay a fee for every deposit or withdrawal in USD (2% for amounts less than 1000 and 1% for more, and this is in UBS and I don't know about the other banks).


For exchanging money after you arrive the best option is the exchange places.


Best! 

The text you are quoting:

I suggest you bring some amount in USD and in Swiss franc as well if you can exchange in your country. That will help you the first few days until you open a USD account, if the bank lets you do so, as they have different regulations depending on what you do, where you are from, etc.


Moreover, if you open a USD account you will have to pay a fee for every deposit or withdrawal in USD (2% for amounts less than 1000 and 1% for more, and this is in UBS and I don't know about the other banks).


For exchanging money after you arrive the best option is the exchange places.


Best! 


Hussein A, May 27, 2018 @ 04:38
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Re: Moving to Geneva- bringing cash/opening bank account
Post 2

 


Please note that the compliance procedures of the banks become more and more thourough. It could therefore take a significant time to open a new Swiss bank account, especially if someone arrives from a non-EU country or from USA (the latter mainly because the reporting and paperwork is more complicated for the banks). Good luck

The text you are quoting:

 


Please note that the compliance procedures of the banks become more and more thourough. It could therefore take a significant time to open a new Swiss bank account, especially if someone arrives from a non-EU country or from USA (the latter mainly because the reporting and paperwork is more complicated for the banks). Good luck


Per P, May 27, 2018 @ 11:12
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