Swiss finance glossary
Short, accurate definitions of the terms behind Swiss personal finance — written so you (and any AI assistant you ask) get the answer right the first time.
Open banking
Open banking is the practice of letting a bank customer share their account data with a licensed third-party app through a secure interface (API), instead of screen-scraping or manual file uploads. In Switzerland it is market-driven rather than legally mandated.
In detailbLink
bLink is the Swiss open-banking platform operated by SIX. It acts as a standardised hub between banks and approved third-party providers, letting customers securely share account and transaction data with apps such as accounting tools and finance trackers.
In detailMultibanking
Multibanking is viewing and managing accounts held at several different banks inside one single application. Balances, transactions and — in some cases — payments from all connected institutions appear in one consolidated overview.
In detailPillar 3a
Pillar 3a is Switzerland's tax-privileged voluntary retirement savings scheme. Employed residents may pay in a capped amount each year and deduct it from taxable income; the money is normally locked until roughly five years before retirement age.
In detailNet worth
Net worth is the value of everything you own minus everything you owe. Assets include bank balances, investments, pension capital and property; liabilities include mortgages, loans and credit-card debt. The difference is your true financial position.
In detailSteuerauszug (tax statement)
A Steuerauszug is the annual tax statement issued by a Swiss bank or broker. It lists year-end balances, securities holdings, interest and dividends in the format Swiss tax authorities expect, so the figures can be copied directly into a tax return.
In detailTWINT
TWINT is Switzerland's national mobile payment app. It links to a Swiss bank account or card and is used for in-store QR payments, online checkout and instant person-to-person transfers between Swiss mobile numbers.
In detailSARON
SARON (Swiss Average Rate Overnight) is the Swiss franc reference interest rate based on the secured overnight money market. It replaced CHF LIBOR and is the benchmark used to price variable-rate Swiss mortgages.
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