By Rene Philippe Raymond Dubout · · Updated Getting into an SRO takes months. Getting a bank account for an SRO company can take longer, and sometimes never happens. Ask anyone who has set up a Swiss financial intermediary: the regulator is rarely the problem. The bank is.
Why banks say no
For a Swiss bank, an SRO company is a financial intermediary that moves other people’s money. That is exactly the client profile its compliance department is paid to worry about. Before opening an account, the bank wants to understand everything:
- who the beneficial owners are and where their money comes from
- what the company will do, for which clients and in which countries
- how its anti-money laundering file works in practice, not just on paper
- whether crypto is involved, and how much
A new company with no history, foreign shareholders and an international client base ticks every box on the bank’s risk list. Many banks simply don’t open these files. Those that do take their time.
The chicken-and-egg problem
The SRO wants to see a credible business, and a business needs a bank account. The bank often wants to see SRO membership first. Founders get stuck between the two, paying for an office, a director and compliance while nothing moves.
The routes that work, if you know where to knock
There are Swiss banks that accept financial intermediaries. There are also regulated payment institutions and EMIs, in Switzerland and in the EU, that open accounts for SRO companies. But they don’t advertise it, their appetite changes from one quarter to the next, and each one wants to see the file presented its way. Knock on the wrong door with the wrong file, and the refusal stays on record when you try the next one.
FintechLex knows which institutions are open to which business models today, and prepares the file so it passes the first time. Or you take the short cut: buy a company that already has its accounts, and skip the hardest step entirely.
Bank accounts for a Swiss VASP
For a Swiss VASP, the crypto side makes everything harder. The bank will ask where the crypto comes from, who controls the private keys and how the travel rule is applied. Very few institutions say yes, and they say it only to a file that answers these questions before they are asked. That is the file we prepare.
What buyers should check
If the company you buy comes with accounts, check that they really work: in whose name they are, which currencies, what limits, and whether the bank or payment institution has been told about the change of ownership. A change of control can trigger a new review, so plan it with the account provider, not after the closing.
A Swiss SRO company with accounts already open
FintechLex currently has for sale a Swiss SRO company in Zug, member of SO-FIT, with accounts pre-opened at two payment institutions. For the full picture, read What Nobody Tells You About the Swiss SRO in 2026.
Write to us at insight@fintechlex.com or on WhatsApp +41 787 983 770.
Rene-Philippe
