Starting now, you can now open a basic Swiss bank account online with UBS if you have the latest biometric passport.
UBS is the first bank in Switzerland to allow individuals to open a basic bank account online by using a biometric passport and an electronic signature through UBS's Key4 offering, Switzerland's largest bank announced Tuesday.
The bank said that the banking services, including a prepaid card, are available for individuals over 15 years old and the application can be completed in minutes around the clock, using the UBS mobile banking app.
Business Accounts for Start-ups
Previously, opening an account online required video identification, which is no longer necessary. Once authorized, the account is immediately activated and the prepaid Key4 card can be updated and used digitally.
In addition, UBS is offering business accounts for start-ups, that will be available within four days from application through its UBS key4 business offering. These will be free of charge for the first year, and clients can also use an electronic signature.
Key4 Pensions
UBS is also holding out the prospect of the next expansion of the platform. Starting in November, private customers will be able to open a fund account from their smartphone, invest directly in selected funds and manage them independently directly on their smartphone - starting with a minimum sum of 50 francs.
The online offering is yet another service UBS has bolted onto its Key4 offering. At the end of September, UBS expanded its offering to 3a retirement accounts which are private pensions used to augment the first two pillars of Switzerland's retirement and pension accounts, as finews.com reported.
