When I was an American PhD student in Zurich, none of the Swiss banks would accept me—except the official post office bank. This was due to the stringent FATCA laws, which made U.S. citizens too burdensome for the traditionally privacy-centric Swiss banks.

Within the first few months, I accumulated around 40K CHF in salary that the university owed me (technically from the Swiss government, since researchers were federal employees). Eventually, the university emailed me to ask if I’d like to pick up my money in cash (Bargeld). Apparently, this wasn’t uncommon.

One day I went to the office to collect it. They asked which denomination I preferred (I assumed 20s or 100s). I asked for a mix, and they handed me several envelopes filled with 1,000 CHF notes and smaller bills. I distinctly remember carrying multiple envelopes. At one point, as I walked back to my office on top overlooking Zurich, a gust of wind blew behind me. I turned around and saw colorful 200 CHF and 1,000 CHF notes scattered along the road. I calmly walked back and picked them up.

For a few months, I paid my rent and groceries entirely in cash. The Swiss didn’t think anything of it—in fact, it was fairly common. Eventually, I was able to open an account and received a yellow two-factor authentication device that looked like an old calculator. I deposited the rest of the money and, for the remainder of my studies, used the “yellow calculator” to pay bills online by debit. https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcQhylNX...

I never did receive an official Swiss credit card which was fine. However, I did accumulate funds a Swiss 401K which is another story unto itself.