I believe the clause about products not being available to US persons refers to investment products such as mutual funds which may not have been approved for sale in the US.

Ok, an update on my credit card list. The new Migros CC card allows you to collect points for every franc you spend anywhere. 1 for 1 in Migros and 1 point for two francs elsewhere.

If I remember correctly, you thus get 0.5% of expenditure outside Migros back, as it is normally 1%, so put this against the 2% you pay on foreign transactions and you have 1.5% left.

Then again, you do not get perks like insurance with this card. But I find the idea that I have to keep track of when my card will be renewed with UBS annoying. I mean, if you want it to be free the next year, you have to send in this coupon with your keyclub points right? A bit of a hassle as it is another deadline to remember...but please correct me if I am wrong.

When I opened my bank account with UBS they refused me a credit card on account of my L-Permit status. I contacted them a few months ago with a new request and once again I was told there was no chance on an L-permit.

Today I emailed them saying that although I was happy with the service and online banking, I was very unhappy about not being offered a credit card and that I was now forced to take my banking elsewhere.

Two minutes later I got a phone call from them asking who on earth had refused me, and judging by the balance in my account they would send me the paperwork immediately.


So for those on L-Permits who get refused credit cards from banks, just threaten to take your business elsewhere.

Any bank here is the same, the same people who work in these places, move around in the same industry. NO need to move your account, move your mind.

You can even get almost zero charges for taking mortgages if you can convince them you are a "high worth" customer. My ex-colleague did.

Just earn enough money to qualify for free transactions and credit card.


HAT

Started with ZKB when I first arrived and never needed to change. Internet banking works fine.

Has the hidden text thing finished yet or is it on going

DC

thanks guys this is a really interesting thread.

can anyone recommend a credit card that is linked to a frequent flyer/air-miles program?

also..... perhaps this should go on the buying a house thread, but what's with swiss banks only handing out 80% for mortgages? Is there anyway around this? (besides cashing in your retirement fund).

will they lend you the deposit as part of a personal loan? (at higher interest rates?) (i'm not in banking so maybe this is a silly question, i spoke to my bank in Oz and they said yes, at 13% interest. )

cheers

Nic

Swiss have the miles & more credit card.

Before you even start thinking about buying a house here you should live here for a while. The market is not very fluid and houses can be quite difficult to sell on. See if you like it and want to stay long term before you go down that road . But yes a 20% deposit is the norm, you can make a deal with your bank for a smaller deposit but this is not common as far as I know.

Thanks Lou,

will look at those cards.

am still testing the waters with regards to what to do when i get here. Given the 3.5% interest rate, high rents and salaries, buying a small unit seemed like a good idea. Guess i'll hold off for 6 months and have a look around.

cheers

Nic

Seriously, buying here is not like Oz, UK, US...
It's not a case or turn up, buy, sell, make profit, ta very much

Hey GBN,

not what i was planning on doing, i understand the capital gain is limited.
I was just interested in building a nest egg and not pouring money down the rent drain pipe where possible. Also, those interest rate are so low, makes everything seem easier then in Oz.

thanks for the pointer.

nic

Well UBS sent my wife a very nice box of chocolates for her birthday this year, they seem to have forgotten mine though, and no we're not high net asset customers.
Nick