Salary account

Seeing as bank charges for transfers abroad/overseas remain rather high, it is recommended that you open a salary account in Switzerland or Liechtenstein. By providing the IBAN number, payments can also be made in the EU area at domestic rates. Please note that when using a Swiss EC card abroad (including in Liechtenstein) an automatic fee is applied.

The three main banks in Liechtenstein:

VP Bank AG
Aeulestrasse 6
9490 Vaduz
Tel. +423 235 66 55                                          

LGT Bank AG
Herrengasse 12
9490 Vaduz
Tel. +423 235 11 22
 
LLB – Liechtensteinische Landesbank AG
Städtle 44
9490 Vaduz
Tel. +423 236 88 11
 
VPB has an automated cash dispenser on the Hilti Campus.

As a rule, opening a salary account with a Liechtenstein bank should be relatively easy, but this must be done at the bank branches in Vaduz. The banks will only ask that you present your passport and they would appreciate it if you made an appointment. By contrast, most Swiss banks also request that you present your Swiss foreign national residency permit (B permit) which you receive only 2 to 3 weeks after registering with the local municipality.

Salaries are paid in CHF into a salary account. It is possible for your salary to be split and transferred into two accounts. It is necessary to include the IBAN number for all accounts.

Here are some addresses of banks with branches in Buchs SG:
 
Raiffeisenbank Werdenberg
Bahnhofstrasse 12
9470 Buchs SG
Tel. +41 81 758 00 00
 
UBS AG
St. Gallerstrasse 5
9470 Buchs SG
Tel. +41 81 755 42 42
 
Credit Suisse AG
Bahnhofstrasse 48
9470 Buchs SG
Tel. +41 81 755 66 11
 
St. Galler Kantonalbank
Bahnhofstrasse 34
9470 Buchs SG
Tel. +41 81 756 36 66

EC Cards / Maestro cards (debit cards) / credit cards

In Switzerland and Europe, it is usual for people to have a Maestro card (EC card). You can use it to obtain money from any automated cash dispenser in the world and pay cashless in most shopping malls and gas stations. The corresponding amount of money is debited directly and immediately from the account. For transactions from abroad or at other bank companies, charges are calculated in varying levels.
 
Mastercard and VISA are the most common credit cards. If you want a credit card from another company, it is best to seek advice directly from your bank. Please note, however, that it is normal for a bank to request that foreigners pay very high amounts of cash or make large deposits, as security for the credit card, before the card is issued.
Employees who own a credit card for business expenses have the possibility to apply for a private credit card at advantageous conditions.
 
Since card payments are accepted in most places, you are not necessarily dependent on cash. However, there is no guarantee that every small business will accept payment by debit card or credit card. Therefore, it is advisable to carry some cash around with you.
For more information on card misuse, cash withdrawal limits and geoblocking, please contact your bank.
 

Postal account in Switzerland

It is also possible, and even very common, for people to have an account with the post office. In the same manner as a bank account, a postal account can be used to pay bills and obtain cash.

For additional information, contact the post office service directly at www.post.ch.
 

Standing orders/direct debits

Amounts for bills that have to be paid regularly (such as rent, telephone, electricity) can be transferred individually by means of a payment slip. However, it is more practical to set up standing orders via your salary account or to settle the bills by direct debit.

 

The amounts are then automatically debited from the account on the fixed dates and transferred. Your bank will help you to set this up.

Most banks also offer an Internet banking service that allows you to take care of your banking transactions online.