All consumers with legal residence in the EEA have the right to open and use a basic account, provided they can demonstrate a genuine interest within the meaning of the ZKG.

The basic account aims to ensure that payment transactions are available even to individuals who have difficulty obtaining a regular payment account. As defined in the ZKG, it provides the basic functions of a payment account, such as making deposits and withdrawals, and executing payments, direct debits, and standing orders within the EEA.

Services included

The basic account corresponds to the LLB Light package with the following scope of services:

• Basic account in CHF incl. account balancing and Online / Mobile Banking
• Monthly account statement as PDF in Online / Mobile Banking
• Payment transactions debited from the basic account within the EEA
• Debit card in CHF

Restrictions

The basic account does not offer any services that go beyond the legally defined scope of services. In particular, the basic account offers no overdraft facility. Payments outside the EEA (e.g. Switzerland) are explicitly restricted, as are all credit and investment products.

The bank may refuse to open an account if:

• The client is unable to demonstrate a genuine interest in a basic account or already has a payment account with a bank domiciled in Liechtenstein.
• Criminal proceedings are pending against the client to the detriment of the bank.
• Opening the account would lead to a breach of due diligence legislation, legislation on the enforcement of international sanctions, or market abuse legislation.
• The bank terminated the client with good cause in the past year.

Accounts can be opened only at the client counter in Vaduz.