Apply Now

Monthly Budget

International students can open a bank account in Geneva, Switzerland. Having a local bank account is essential for managing daily expenses, paying rent, and receiving funds. Here's a guide to help you through the process:

To open a bank account in Geneva, you'll typically need the following documents:

  • Valid Passport
  • Swiss Residence Permit (e.g., Permit B or L)
  • Proof of Address in Geneva (such as a rental contract or utility bill)
  • Student ID or Proof of Enrollment from your educational institution

*Some banks may also request additional documents, such as a visa or proof of income. It's advisable to contact the bank beforehand to confirm their specific requirements. 

Here are some banks in Geneva that are known to be accommodating to international students:

  • Banque Cantonale de Genève (BCGE): A cantonal bank offering a range of services suitable for students.
  • PostFinance: Known for its accessibility and straightforward account opening process.
  • UBS: Offers the "UBS me" banking package tailored for young people and students, which includes free account management if all documents are delivered digitally.
  • Credit Suisse: Provides student accounts with various benefits and online banking options.

*It's recommended to visit the bank's website or contact them directly to understand the specific services and benefits they offer to students.

If you prefer digital solutions, consider the following:

  • Yuh: A digital banking app backed by Swissquote and PostFinance, allowing account opening without monthly fees.
  • Wise (formerly TransferWise): While not a traditional bank, Wise offers multi-currency accounts and debit cards, which can be useful for managing finances internationally.

Opening a bank account in Geneva as an international student is a straightforward process, provided you have the necessary documentation. It's advisable to initiate this process soon after your arrival to facilitate financial transactions during your stay.

Example of a monthly budget estimate for students in Geneva

  • Rent : CHF 750 - 1200
    Monthly rental charges vary widely in Geneva, both in private accommodation and student residences. Single apartments range from CHF 750 (room in a shared apartment) to CHF 1200 (studio) per month. Other accommodation options with a wider pricing range may be located further from the Institute.

  • Food: CHF 400 - 800
    Budgeting for food depends on many personal choices, including how food shopping and preparation is organised, cooking in versus ordering or eating out, and dietary restrictions. Less expensive options, such as discount supermarkets (Lidl, Aldi, Denner) or food shopping in France can reduce expenses.
    At the beginning of each semester, students can sign up for an initiative called La FARCE. The annual membership fee is CHF 20 and members receive weekly free groceries once a week.

  • Public transport:
    Under-25-year-olds who meet certain criteria can apply for a free Unireso travel pass
    12 February, 2025

    Courtesy of the State of Geneva, Unireso travel passes for the Geneva public transport network (TPG) are now available free of charge for the following people:

    - 18–24-year-olds (inclusive) who live in the Canton of Geneva and:
    . are enrolled in an educational establishment in the Canton of Geneva
    . are enrolled in an educational establishment outside the Canton of Geneva
    . earn less than 50 000 CHF per year

    - 18–24-year-olds (inclusive) who live outside the Canton of Geneva and:
    . are enrolled in an educational establishment in the Canton of Geneva
    . under-18-year-olds who live in the Canton of Geneva

    To get your travel pass, you will need to provide proof of your status. This includes proof of address for those living in Geneva and, for students, an education certificate from your institution.
    Applications for the free travel pass can only be made online (if you have a SwissPass) or in the Rive, Cornavin and Lancy TPG ticket offices. For more information, visit the TPG website.

  • Mobile phone: CHF 25 – 50
    Most students purchase either a prepaid or monthly cell phone plan. Most students pay around CHF 30 a month for standard cell phone service.

  • Other costs: CHF 200+
    Additional costs such as toiletries, clothes, activities, entertainment.

  • Monthly cost total: CHF 1,460 – 2,720 +, in addition to the health insurance annual deductible.