Swiss Banking from A to Z
Discover Swiss Banking from A to Z: Our compact glossary explains all key terms used in the Swiss financial world in clear, simple language.
Aa
Account set
Account sets combine the most important banking services (private account, debit card, credit card) at an attractive price. Zuger Kantonalbank offers three main account sets: Basic, Comfort, and Premium – each tailored to different banking needs and lifestyles
ATM
You will find several Zuger Kantonalbank ATMs in the canton of Zug. You can withdraw money (EUR und CHF) or change the PIN on your bank cards.
Asset management
Asset management means delegating investment decisions to experienced professionals. Based on your personal goals and risk profile, your portfolio is professionally managed and continuously monitored – so you benefit from expertise without having to handle day-to-day management yourself.
Bb
Bank client confidentiality
Bank client confidentiality is a Swiss tradition aimed at protecting customer data.
Cc
Cantonal bank
There are 24 cantonal banks in Switzerland. They are independent banking institutions with close ties to their regional areas of activity. Most of them (including Zuger Kantonalbank) have an unlimited state guarantee.
Credit card
A widely accepted payment method that enables you to make purchases in shops, restaurants and online – and also abroad. Credit cards are convenient but should not be used for cash withdrawals, as this may incur relatively high fees. For withdrawing cash, it’s better to use your debit card instead. Zuger Kantonalbank offers its own range of credit cards tailored to different needs.
Currency
Switzerland’s national currency is the Swiss franc (in German: Schweizer Franken). The official abbreviation is CHF or Fr. One Swiss franc is divided into 100 centimes (in German: Rappen).
Custody account
A custody account is used for the safe custody of securities such as shares, bonds, or investment funds. Securities transactions such as purchases and sales can also be conducted via the custody account.
Dd
Debit card
Payments made with a debit card are deducted directly from your bank account. You can use it to withdraw cash from ATMs or to pay in shops, restaurants, and other points of sale. Debit cards are widely and frequently used in Switzerland for everyday purchases.
Please note: If you withdraw cash from an ATM that does not belong to Zuger Kantonalbank, fees may apply. However, withdrawals in CHF from ATMs of other cantonal banks across Switzerland are free of charge.
Ee
EC card
Although these cards were discontinued some time ago, some people in Switzerland still refer to them when talking about debit cards.
Ff
Financing
Home financing includes all the financial steps involved in buying or building a home. ZugerKB offers personalised advice from experts with an in-depth understanding of the Zug property market. Through its regional network, the bank also provides additional information and support to help you make well-informed decisions.
See also keyword: mortgage
Fund savings plan
A fund savings plan lets you invest regularly in selected investment funds—starting with small monthly amounts. Each fund is managed by a professional fund manager and follows a specific investment strategy. You can choose from various funds depending on your goals and risk profile.
Fund savings plan - Zuger KantonalbankIi
IBAN
The International Bank Account Number (IBAN) is an international, standardised notation for account numbers and is widely used in Switzerland and the European Union. People can transfer money to your account if you provide them with your name, address and your IBAN – nothing more is required. You will find your IBAN on your debit card.
Interest
Interest is the amount paid or received for borrowing money. Anyone taking out a loan (e.g. a mortgage) pays interest to the bank. Anyone depositing money in a savings account receives interest from the bank. The interest is expressed as a percentage and depends on the agreed interest rate. The currently applicable terms and conditions can be found on our website.
Accounts – Zuger Kantonalbank Mortgage interest rates – Zuger KantonalbankInvestment advisory
Zuger Kantonalbank offers tailored investment advice based on your personal goals and risk strategy. You benefit from expert guidance, regular portfolio reviews, and access to a wide range of investment solutions.
Investment advisory – Zuger KantonalbankJj
Joint account
A joint account is a bank account shared by two or more individuals, typically used by couples or family members. All account holders have equal access to the funds and can make deposits, withdrawals, and payments independently, unless otherwise agreed. Joint accounts offer convenience for managing shared expenses.
Ll
Land Registry
The Land Registry keeps the official land register in Switzerland. It records legal ownership of real estate, including details about the property, rights of way, mortgages, and other encumbrances. When buying or selling property, entries in the land register are legally binding and essential for transferring ownership.
Mm
Mobile Banking
With the Mobile Banking app from Zuger Kantonalbank, you can access your account and custody account anytime, anywhere – even while on the go. The app offers a convenient and secure way to manage your finances, whether you're checking your balance, making payments, or monitoring your investments.
Mortgage
A mortgage is a loan secured by property – typically used to finance the purchase of a home. The choice between a fixed-rate and a variable mortgage can be challenging. That’s why we work with you to develop a tailored solution that reflects your personal situation and the current interest rate environment.
Mortgage calculator
One of our most popular online tools is the mortgage calculator. It shows you whether a property is affordable for you based on your annual income and equity by calculating your projected mortgage interest costs. It thus helps you to make a well-considered decision.
Oo
Old-age and survivors’ insurance (OASI)
The OASI is the first “pillar” of the Swiss pension system. It provides basic financial security for people in retirement, as well as benefits for surviving spouses and orphans in case of death. Contributions are mandatory for all individuals working in Switzerland and are deducted directly from the person’s salary.
#ZugerKBlog: Let us introduce you to our Swiss pension system
Online banking
Online banking in Switzerland is mostly referred to as e-banking. Zuger Kantonalbank’s online banking (E-Banking and Mobile Banking) offers secure, 24/7 access to your accounts and investment portfolio from any location. You benefit from a wide range of digital services so that you can manage your finances conveniently and efficiently.
Pp
Payment slip
These traditional slips have now been replaced by the modern QR bill, which combines all relevant payment information in a single, scannable format and is valid throughout Switzerland.
Pension fund
A pension fund is part of Switzerland’s “second pillar” of pension provision. It is a mandatory occupational pension plan for employees, funded by both employer and employee contributions. The pension fund helps ensure financial security after retirement and may also provide benefits in case of disability or death. The amount saved depends on the person’s salary and contribution years, and funds are typically managed by professional institutions.
PIN
A personal identification number (PIN) is a four to six-digit numerical code used to confirm transactions with your debit or credit card. It can be changed at an ATM.
Private account
The private account is ideal for everyday use – e.g. for your salary, payments or securities purchases. Zuger Kantonalbank offers private accounts in CHF and EUR. Take a look at our account sets too, which include debit cards and/or credit cards as well as the private account.
QR bill
Payments in Switzerland are currently being digitalised in line with the ISO 20022 standard. The QR bill has been in use since 1 July 2020. You can recognise it by the Swiss QR code, which contains all the information needed for easy, automatic and efficient payment. The new QR bill has replaced the traditional payment slips.
Rr
Rent deposit account
In Switzerland, when renting an apartment, office, or other premises, a deposit (or security deposit) is often required. The amount is placed in a blocked account under the tenant’s name and serves as security for the landlord against unpaid rent or damage. At the end of the tenancy, the deposit is released.
Ss
3rd pillar / Savings 3a
The “third pillar” is the voluntary private pension component of Switzerland’s pension system. Contributions to a Pillar 3a account are tax-deductible up to a certain limit, and the funds are typically invested in accounts or investment products. The money is locked in until retirement age but can be withdrawn early under specific conditions.
Savings account
This is an account for your short and medium-term savings goals. It allows easy access to your funds and helps you to achieve your financial goals flexibly and securely.
Standing order
A standing order is an instruction given to the bank to make regular fixed payments from your account to a particular beneficiary. It is ideal for recurring payments such as rent, insurance premiums or association membership dues.
Swiss National Bank
As an independent central bank, the Swiss National Bank (SNB) is responsible for the country's monetary and currency policy. It ensures price stability and thus contributes to a stable Swiss economy.
Tt
TWINT
You can use TWINT in many shops, farm shops and at markets or to pay for parking. Payments are made by scanning QR codes or using Bluetooth, and the app links directly to your bank account. TWINT is widely accepted across Switzerland. You can also use it to transfer money to other TWINT users. The Zuger Kantonalbank TWINT app is available on the Google Play Store and the App Store.
Zz
Zuger Kantonalbank
Zuger Kantonalbank is the leading financial institution in the Zug economic region. With 14 branches – at least one in every municipality in the canton – we have a local presence for our clients wherever they are.