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Migros Bank review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Migros Bank suits people banking in Swiss francs who want everyday costs kept low: a monthly fee of CHF 0 on the private account and a conversion fee of 0% on the prepaid card. The savings side is easy access at a variable rate of 0.05%, credited once a year.

Key facts

Best for
Everyday Swiss franc banking with a monthly fee of CHF 0.
Monthly fee
CHF 0↗
Currency conversion fee
0%↗
Free ATM withdrawals
CHF 0↗
Transfer fee
Free (0) for account transfers and domestic payments via e-banking; no fees for ATM withdrawals or Visa Debit card payments from a Privatkonto↗
Legal entity
Migros Bank AG↗
Headquarters
Switzerland↗
Founded
1958↗
Support channels
Email, Chat, Phone, Help-centre↗
Audience
Expats
Pricing model
No monthly fee
Features
Free ATM withdrawals
Official website
migrosbank.ch

Savings

Headline rate
0.05%↗
Rate type
Variable↗
Access terms
Savings account held in CHF only, for private individuals aged 25 and over, interest credited once a year on 31 December↗
Account kind
Easy access↗

Money transfer

Delivery time
Same business day when entered before 15:00, otherwise next business day morning↗
Payout methods
Bank↗
Fee to send 1,000
CHF 0↗

Facts checked September 26, 2026, 7 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • A monthly fee of CHF 0 on the private account, in a category where 91.7% of brands charge nothing.
  • The prepaid card converts at 0%, well under the site median conversion fee of 0.5%.
  • Transfers cost CHF 0, and ATM withdrawals and Visa Debit card payments from a Privatkonto carry no fees.
  • Support runs on email, chat and phone, so phone and email are both open.

Cons

  • The savings account is held in Swiss francs only, so it cannot take other currencies.
  • Interest is credited once a year at year end rather than as it accrues, and the account is for adults.
  • The savings rate of 0.05% is variable, as variable lists, so the return is not locked for a term.
Migros Bank

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Scored 9.5 / 10 by VaultCue.

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Who it suits

  • People who live and spend in Swiss francs and want a private account billed at CHF 0 a month.
  • Expats in Switzerland, since the private account lists expats as its audience.
  • Holders who want cash parked without a lock, accepting a variable rate of 0.05% credited once a year.

Who should look elsewhere

  • Euro only households: Migros Bank is headquartered in Switzerland, while AXI Card and Skrill both charge €0 and €0 in euro.
  • Savers chasing a locked rate: the savings rate here is variable, variable, so XTB at a monthly fee of €0 is the one to weigh first.
  • Anyone wanting interest paid through the year, since the savings account credits it once a year at year end.

Rates and terms

The savings account pays a headline rate of 0.05%. The rate type is variable, variable, so nothing is locked for a fixed term. The site median for headline rates is 3%, which puts this rate at the floor of the market rather than near the top of it.

How Migros Bank compares

Where Migros Bank is available

Available
Switzerland
Licence in Switzerland
Eidgenoessische Finanzmarktaufsicht (FINMA), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the private account cost to keep?+

The private account has a monthly fee of CHF 0, and the pricing model is no monthly fee, no monthly fee. Site monthly fees run €0 to €449, so there is little to save on the account itself. Transfers are a separate line, at a transfer fee of CHF 0.

What does it cost to send money or convert currency?+

Transfers and domestic payments carry a fee of CHF 0. Payments entered in time are sent the same business day; later ones go out the next business day morning. Payouts run to bank accounts, so money is paid out by bank transfer rather than collected in cash.

Are there ATM and card fees on a Privatkonto?+

ATM withdrawals and Visa Debit card payments from a Privatkonto carry no fees. The prepaid card lists a conversion fee of 0% and an ATM allowance of CHF 0, so there is very little to pay on the card side either.

What interest does the savings account pay?+

The savings account advertises a headline rate of 0.05% with a rate type of variable, variable. The site median headline rate is 3%, so this account pays close to the floor of the market and is built for holding cash rather than growing it.

How often is savings interest credited, and who can open the account?+

Interest is credited once a year, at the end of the year, rather than monthly. The account is for adults holding Swiss francs, and the account kind is easy access, easy access, so the balance stays available without a term.

Who regulates Migros Bank?+

Migros Bank AG, Migros Bank AG, is headquartered in Switzerland and is supervised by Eidgenoessische Finanzmarktaufsicht (FINMA). A bank licence is a different arrangement from an e-money account, because deposits sit with the bank itself. Across the site, 635 brands are licensed.

How do I reach support?+

Support runs on email, chat and phone: email, chat, phone and a help centre. That mix matters for the audience the private account targets, expats, because an account holder abroad can phone as well as write. Payouts from the account are made to bank accounts.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Deposit protection, Currencies.

Migros Bank

Migros Bank

Everyday Swiss franc banking with a monthly fee of CHF 0.

9.5/10See alternatives