Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #81  
Old 15.01.2015, 15:21
Forum Legend
 
Join Date: Dec 2010
Location: ZH
Posts: 4,438
Groaned at 55 Times in 45 Posts
Thanked 2,163 Times in 1,310 Posts
SOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond repute
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
You can also stock up on Amazon gift vouchers.
Or Europapark vouchers.
Reply With Quote
  #82  
Old 15.01.2015, 15:24
flavio's Avatar
Forum Veteran
 
Join Date: Jun 2009
Location: Winterthur
Posts: 738
Groaned at 67 Times in 38 Posts
Thanked 593 Times in 331 Posts
flavio has a reputation beyond reputeflavio has a reputation beyond reputeflavio has a reputation beyond reputeflavio has a reputation beyond repute
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
I moved CHF to Euro today.
brave man
Reply With Quote
  #83  
Old 15.01.2015, 15:25
BLP's Avatar
BLP BLP is offline
Forum Veteran
 
Join Date: Oct 2014
Location: Vaud
Posts: 674
Groaned at 16 Times in 11 Posts
Thanked 268 Times in 175 Posts
BLP is considered knowledgeableBLP is considered knowledgeableBLP is considered knowledgeable
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
You can also stock up on Amazon gift vouchers.

how? too bad they dont sell what I need either
Reply With Quote
  #84  
Old 15.01.2015, 15:26
amogles's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Zurich
Posts: 8,400
Groaned at 141 Times in 122 Posts
Thanked 14,576 Times in 6,201 Posts
amogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond repute
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

The UBS Stock has rebounded to around 15 after falling to 14 CHF (was at almost 17 yesterday after struggling long in the 16's)

(I bought at 9.50 teeheehee)
Reply With Quote
  #85  
Old 15.01.2015, 15:26
cannut's Avatar
Forum Legend
 
Join Date: Jul 2008
Location: canada
Posts: 6,445
Groaned at 175 Times in 135 Posts
Thanked 5,514 Times in 3,042 Posts
cannut has a reputation beyond reputecannut has a reputation beyond reputecannut has a reputation beyond reputecannut has a reputation beyond reputecannut has a reputation beyond reputecannut has a reputation beyond repute
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

This explains why my AHV pension was 5 days late
Reply With Quote
  #86  
Old 15.01.2015, 15:37
Horatio Gonzales's Avatar
Senior Member
 
Join Date: Feb 2014
Location: Luzern
Posts: 340
Groaned at 3 Times in 3 Posts
Thanked 93 Times in 52 Posts
Horatio Gonzales has earned some respectHoratio Gonzales has earned some respect
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
How about this:

Spend 293.02 CHF to buy a bitcoin

Sell bitcoin for 298.68 USD

Swap 298.68 USD for 302.56 CHF

Repeat until rich?
Anyone know how to revisit this little gem, will the margin increase with this news today?
Reply With Quote
  #87  
Old 15.01.2015, 15:46
Newbie 1st class
 
Join Date: Jan 2011
Location: Thalwil
Posts: 16
Groaned at 0 Times in 0 Posts
Thanked 3 Times in 2 Posts
dancingsea has no particular reputation at present
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

whoever has listened to this message would have fat your pocket already today if you did buy fanc on Jan 8th 2015.
Reply With Quote
  #88  
Old 15.01.2015, 15:50
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,716
Groaned at 209 Times in 181 Posts
Thanked 11,029 Times in 6,254 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
Anyone know how to revisit this little gem, will the margin increase with this news today?
If you had not gone bankrupt during the process, Bitcoin currently is worth 186.86 CHF / 217.17 USD
Reply With Quote
  #89  
Old 15.01.2015, 15:58
alanbrito's Avatar
Member
 
Join Date: Jan 2007
Location: Horgen
Posts: 133
Groaned at 0 Times in 0 Posts
Thanked 41 Times in 24 Posts
alanbrito has earned some respectalanbrito has earned some respect
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Great, now my salary (in USD) will look like a fortune to Uncle Sam. Many people will now owe more tax for 2015 unless it goes back to parity. I was very excited about the strong dollar of late.
Reply With Quote
The following 4 users would like to thank alanbrito for this useful post:
  #90  
Old 15.01.2015, 16:07
Junior Member
 
Join Date: Oct 2012
Location: Zurich
Posts: 45
Groaned at 0 Times in 0 Posts
Thanked 5 Times in 3 Posts
tintin26 has no particular reputation at present
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Strangely, I am not able to ship CHF out today. UBS is pushing the execution date to tomorrow for a foreign transfer. Normally it executes the same date if before 1600. But in this case it did not.
Then, I tried transfer wise thinking it may allow local CHF tranfers, but not that as well
Reply With Quote
  #91  
Old 15.01.2015, 16:09
Forum Legend
 
Join Date: Dec 2010
Location: ZH
Posts: 4,438
Groaned at 55 Times in 45 Posts
Thanked 2,163 Times in 1,310 Posts
SOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond repute
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
Strangely, I am not able to ship CHF out today. UBS is pushing the execution date to tomorrow for a foreign transfer. Normally it executes the same date if before 1600. But in this case it did not.
Then, I tried transfer wise thinking it may allow local CHF tranfers, but not that as well
Very cunning.
Reply With Quote
This user would like to thank SOBEIT for this useful post:
  #92  
Old 15.01.2015, 16:12
Junior Member
 
Join Date: Oct 2012
Location: Zurich
Posts: 45
Groaned at 0 Times in 0 Posts
Thanked 5 Times in 3 Posts
tintin26 has no particular reputation at present
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Just curious, anyone else successful in making a foreign transfer today from UBS ?
Reply With Quote
  #93  
Old 15.01.2015, 16:20
Junior Member
 
Join Date: Aug 2010
Location: Zug
Posts: 78
Groaned at 0 Times in 0 Posts
Thanked 35 Times in 17 Posts
Andreag has no particular reputation at present
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

I am not familiar with FX trading.
Wouldn't a Eur bank account with UBS do the samejob as well or it needs to be transferred abroad?

Last edited by Andreag; 15.01.2015 at 16:21. Reason: misspelling
Reply With Quote
This user would like to thank Andreag for this useful post:
  #94  
Old 15.01.2015, 16:26
Dack Rambo's Avatar
Forum Veteran
 
Join Date: Mar 2010
Location: Switzerland
Posts: 2,439
Groaned at 178 Times in 105 Posts
Thanked 1,551 Times in 765 Posts
Dack Rambo has earned the respect of manyDack Rambo has earned the respect of manyDack Rambo has earned the respect of many
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

so how low will it go?
Reply With Quote
  #95  
Old 15.01.2015, 16:40
alanbrito's Avatar
Member
 
Join Date: Jan 2007
Location: Horgen
Posts: 133
Groaned at 0 Times in 0 Posts
Thanked 41 Times in 24 Posts
alanbrito has earned some respectalanbrito has earned some respect
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
Great, now my salary (in USD) will look like a fortune to Uncle Sam. Many people will now owe more tax for 2015 unless it goes back to parity. I was very excited about the strong dollar of late.
Funny, watching the dollar rise made me think I should hedge the USD-CHF using Forex options to offset any US tax obligations. I guess it's too late unless the CHF keeps rising.

Have any Americans used such a strategy to hedge tax obligations? I don't have much experience with options trading (or Forex for that matter), so I would be interested to hear of any concrete scenarios.

In theory, I would short the USD against the CHF using options which would allow me to lock in a profit if the USD falls. This profit would then offset any increased taxes paid to the US. If the USD rises, the option is worthless, and I only lose my premium paid. Any holes in this theory?
Reply With Quote
  #96  
Old 15.01.2015, 17:07
flavio's Avatar
Forum Veteran
 
Join Date: Jun 2009
Location: Winterthur
Posts: 738
Groaned at 67 Times in 38 Posts
Thanked 593 Times in 331 Posts
flavio has a reputation beyond reputeflavio has a reputation beyond reputeflavio has a reputation beyond reputeflavio has a reputation beyond repute
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
Any holes in this theory?
Yes, that is gambling, not a theory
Reply With Quote
This user would like to thank flavio for this useful post:
  #97  
Old 15.01.2015, 19:00
eyebeebe's Avatar
Forum Veteran
 
Join Date: May 2009
Location: Pfäffikon SZ
Posts: 1,089
Groaned at 11 Times in 10 Posts
Thanked 938 Times in 469 Posts
eyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond repute
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
Any holes in this theory?
When I asked CS about using options to hedge GBP when I first moved over in 2009, they were delighted to help - minimum contract size CHF 250k. I guess other banks may have different minimums, but if you need to hedge tax liabilities that large, I'd suggest you would be better spending the option premium on a better accountant
Reply With Quote
  #98  
Old 16.01.2015, 08:47
Dack Rambo's Avatar
Forum Veteran
 
Join Date: Mar 2010
Location: Switzerland
Posts: 2,439
Groaned at 178 Times in 105 Posts
Thanked 1,551 Times in 765 Posts
Dack Rambo has earned the respect of manyDack Rambo has earned the respect of manyDack Rambo has earned the respect of many
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
Strangely, I am not able to ship CHF out today. UBS is pushing the execution date to tomorrow for a foreign transfer. Normally it executes the same date if before 1600. But in this case it did not.
Then, I tried transfer wise thinking it may allow local CHF tranfers, but not that as well
so what exhange rate will you get? The one which is valid when UBS opens for business today?
Reply With Quote
  #99  
Old 16.01.2015, 09:12
nasa2000's Avatar
Senior Member
 
Join Date: Feb 2008
Location: Fribourg
Posts: 384
Groaned at 18 Times in 11 Posts
Thanked 254 Times in 115 Posts
nasa2000 has earned the respect of manynasa2000 has earned the respect of manynasa2000 has earned the respect of many
Quote:
View Post
Just curious, anyone else successful in making a foreign transfer today from UBS ?
I did not make a transfer, but drew some Euros from the bankomat, before doing so I checked the exchange rate on UBS online banking and it was 1.0x. Went and got the Euros, after seeing how much they charged me in CHF, they are still doing it at 1.2 ! so pissed off

So double check with them what is their rate before proceeding.

Quote:
View Post
so what exhange rate will you get? The one which is valid when UBS opens for business today?
I can confirm that until this moment, UBS is still keeping the rate at 1.2, although on their portal they show the rate at 1.0x

Last edited by 3Wishes; 16.01.2015 at 09:26. Reason: merging successive posts
Reply With Quote
  #100  
Old 16.01.2015, 09:25
Dack Rambo's Avatar
Forum Veteran
 
Join Date: Mar 2010
Location: Switzerland
Posts: 2,439
Groaned at 178 Times in 105 Posts
Thanked 1,551 Times in 765 Posts
Dack Rambo has earned the respect of manyDack Rambo has earned the respect of manyDack Rambo has earned the respect of many
Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Quote:
View Post
I can confirm that until this moment, UBS is still keeping the rate at 1.2, although on their portal they show the rate at 1.0x
so even money transferred today will get a rate of 1.20?
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
If you have an account LloydsTSB you may be in for a shock BaselLife Finance/banking/taxation 33 16.03.2016 00:49
If you're thinking about heading out to shoppi-tivoli today, you may want to... chrisinzurich Daily life 0 01.05.2013 12:40
I'm a Travel industry professional & might be able to help you if you're nice... Hausamsee Commercial 10 28.03.2013 14:06
If you are marrying into a Swiss family it may be better to have a serious hobby... transition Daily life 62 12.08.2010 11:22
If you are looking for an academic job in CH, or if you are looking to fill one... runner0579 Jobs wanted 1 09.06.2010 11:25


All times are GMT +2. The time now is 21:50.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0