Frequently Asked Questions

Straffnord is designed specifically for international clients. You can open an account if you are a resident of any of our 180+ supported countries. You must be at least 18 years old and hold a valid government-issued ID (passport or national identity card).

You do not need to be a Swiss resident or visit Switzerland in person. The entire onboarding process is completed digitally through our app or website in under 10 minutes.

We currently accept clients from most countries worldwide. A small number of jurisdictions are restricted due to international sanctions or regulatory requirements. The app will confirm eligibility during registration.

To comply with Swiss banking regulations and international AML/KYC requirements, you will need:

• Valid passport or national ID card. a clear photo or scan of the document
• Proof of address. a utility bill, bank statement, or government letter dated within the last 3 months
• A selfie or short video. for biometric identity verification
• Source of funds declaration. you will be asked to indicate how your funds are earned (employment, business, investments, etc.)

For business accounts, we also require company registration documents, proof of beneficial ownership, and a board resolution or equivalent authorizing the account opening.

Most personal accounts are verified within 1-2 business days. In many cases, automated checks complete within a few hours. You will receive an email and in-app notification as soon as your account is approved.

Business accounts typically take 2-5 business days due to additional compliance checks on corporate structures and beneficial ownership.

If we need additional information, our compliance team will reach out directly via the secure in-app messaging system. Responding promptly helps speed up the process.

No. Straffnord is a fully digital Swiss bank. You can open, manage, and close your account entirely from your phone or computer, from anywhere in the world. There is no requirement to visit Zurich or any physical office.

This is one of our core founding principles. bringing trust and security to international clients without the traditional barriers of geography or minimum deposits.

Straffnord supports 30+ currencies including USD, EUR, GBP, CHF, JPY, AUD, CAD, SGD, HKD, AED, and many more. You can hold multiple currencies simultaneously in your account and switch between them at competitive exchange rates.

New currencies are added regularly based on client demand. You can view the full list and current exchange rates in the app under Settings > Currencies.

Yes. You can open both a checking account and a savings account under the same profile. Each account has its own account number and can hold different currencies.

You can transfer funds between your own accounts instantly and free of charge using the Internal Transfer feature. Many clients use a checking account for daily transactions and a savings account for earning interest on longer-term holdings.

You can update your personal information directly in the app by navigating to Settings > Edit Profile. Changes to your name, address, phone number, and other details can be submitted there.

Some changes (such as name or nationality updates) may require additional verification documents. Our team will guide you through the process via in-app messaging if additional documentation is needed.

You can request account closure through Settings > Close Account in the app. Before closing, you must withdraw or transfer any remaining balance to an external account.

Account closure is processed within 5 business days. All transaction history and statements remain available for download for 90 days after closure. After that period, data is retained securely in accordance with Swiss regulatory requirements.

To send a wire transfer, go to Transfers > Wire Transfer in the app or dashboard. Enter the recipient's name, IBAN or account number, SWIFT/BIC code, and the bank's name and address. Select the currency and amount, then confirm with your PIN or biometric authentication.

SWIFT transfers typically arrive within 1-3 business days depending on the destination country and correspondent banking network. You can track the status of your transfer in real time from the Transactions page.

Default daily transfer limits are:

• Local transfers: Up to $50,000 per day
• International wire transfers: Up to $100,000 per day
• Internal transfers (between your own accounts): Unlimited

Higher limits are available for verified clients. Contact your relationship manager or reach out via in-app support to request a limit increase. Business accounts have custom limits based on your activity profile.

When you send money in a different currency than your account holds, the conversion happens automatically at the prevailing mid-market exchange rate with a transparent markup. You will see the exact rate and total cost before confirming any transaction.

For large conversions (over $10,000 equivalent), we recommend contacting our dealing desk through in-app support for preferential rates.

Yes. You can deposit checks digitally by photographing the front and back of the check using the Check Deposit feature in the app. Enter the amount, check number, and payer name, then submit for review.

Check deposits are typically reviewed and processed within 1-3 business days. You will receive a notification once the funds are credited to your account.

We offer Visa debit cards linked to your Straffnord account. Cards are available in both virtual and physical formats:

• Virtual card: Issued instantly upon request. Use it for online purchases and digital wallets (Apple Pay, Google Pay) immediately.
• Physical card: Delivered to your address worldwide. Typically arrives within 7-14 business days depending on your location.

All cards support contactless payments, ATM withdrawals at 2M+ ATMs globally, and can be used in any currency. the conversion is handled automatically.

You can instantly freeze or unfreeze your card from the Cards section of the app or dashboard. Simply tap the Freeze/Unfreeze button on your card. The change takes effect immediately.

Freezing your card blocks all new transactions (including online, in-store, and ATM withdrawals) while keeping recurring payments active. This is useful if you have misplaced your card but think you may find it.

If your card is lost or stolen, we recommend freezing it immediately and then contacting support to issue a replacement.

Absolutely. Your Straffnord card works anywhere Visa is accepted worldwide. Payments in foreign currencies are converted automatically at competitive rates.

If you hold the local currency in your multi-currency account (for example, EUR while traveling in Europe), the payment is deducted directly from that balance with no conversion fees at all.

Yes. Straffnord is a fully licensed Swiss banking institution, regulated and supervised by Regulated (the Swiss Financial Market Supervisory Authority). We hold a Swiss banking licence and comply with all applicable banking regulations.

Your deposits are protected under the esisuisse Swiss deposit protection scheme, which covers up to CHF 100,000 per depositor in the event of a bank insolvency.

Your data is protected by multiple layers of security:

• Swiss FADP (Federal Act on Data Protection). one of the world's strictest data privacy frameworks
• Banking secrecy. your financial information is legally protected under Swiss law
• 256-bit AES encryption. all data is encrypted in transit and at rest
• Local data centres. your data is stored exclusively in ISO 27001-certified facilities in Switzerland
• SOC 2 Type II certified infrastructure and processes

We never sell, share, or monetise your personal data. Read our full Privacy Policy for complete details.

Go to Settings > Security > Two-Factor Authentication in your dashboard. You can enable 2FA using an authenticator app (such as Google Authenticator or Authy) or SMS-based verification.

We strongly recommend enabling 2FA for all accounts. Once active, you will need to enter a one-time code in addition to your password whenever you log in or authorize a high-value transaction.

If you notice any suspicious activity on your account, take these steps immediately:

1. Freeze your card instantly through the Cards section of the app
2. Change your password via Settings > Change Password
3. Contact us immediately via in-app secure messaging, email at security@straffnord.com, or call +41 44 515 0198

Our fraud detection team monitors all accounts 24/7 using AI-powered systems. In most cases, suspicious transactions are flagged and blocked automatically before you even notice them.

No. Opening a Straffnord account is completely free. There is no minimum deposit required to get started, and no monthly maintenance fees on standard personal accounts.

Business accounts and premium services may have associated fees, which are clearly disclosed before you opt in.

Our fee structure is straightforward and transparent:

• Internal transfers (between your own accounts): Free
• Local transfers (to other Straffnord accounts): Free
• International wire transfers (SWIFT): From $0 depending on your account tier
• Currency conversion: Competitive mid-market rate with a small transparent markup
• ATM withdrawals: 2 free withdrawals per month, then a small fee per withdrawal

All fees are shown upfront before you confirm any transaction. There are no hidden charges.

No. Transparency is a core value and a founding principle at Straffnord. Every fee is disclosed clearly before you incur it. There are no inactivity fees, account closure fees, or surprise charges.

You can view a complete breakdown of your fees at any time in Settings > Fees & Pricing within the app.

We currently support Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Tether (USDT), and Cardano (ADA). You can buy, hold, and sell these directly from within your Straffnord account.

All crypto assets are held in institutional-grade cold storage in Switzerland, ensuring the highest level of security for your digital assets.

Yes. You can deposit crypto from any external wallet using the Crypto Deposit feature. Navigate to Crypto > Deposit, select the cryptocurrency, and use the provided wallet address or QR code to initiate the transfer from your external wallet.

Deposits are credited after the required number of network confirmations (varies by cryptocurrency). Processing times depend on network congestion.

Yes. Straffnord offers lending products to qualifying international clients. Loan eligibility is assessed based on your overall financial profile, account history, and the type of loan requested.

Available loan types include personal loans, international property financing, asset-backed lending (against your portfolio or deposits), and business credit facilities. Apply directly through the Loans section of the app.

Straffnord offers regulated wealth management with access to:

• Global equities. stocks from major international markets
• International bonds. government and corporate bonds in multiple currencies
• Managed portfolios. conservative, balanced, and growth strategies managed by our Zurich-based investment team
• Alternative assets. real estate, commodities, and private equity (for qualifying clients)

All investments are managed under regulatory oversight, with assets held in segregated custody for your protection.

Interest on savings accounts is calculated daily and credited monthly. Rates vary by currency and deposit type:

• Instant access savings: Variable rate, currently up to 4.85% (USD)
• Fixed-term deposits: Higher rates available for 1, 3, and 5-year terms across multiple currencies

Current rates are always visible in the app under Savings > Rates. Rates may change based on market conditions, but fixed-term deposits lock in your rate for the full term.