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  #101  
Old 16.01.2015, 09:28
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so even money transferred today will get a rate of 1.20?
Well, maybe they change it later at some point today, I don't know how they update their transfer rate systems. So yes, there is a chance transfers made today will get the 1.20

If anyone has information regarding UBS CHF > EUR transfers/withdraws for today, please enlighten us.

Last edited by 3Wishes; 16.01.2015 at 09:38. Reason: merging successive posts
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  #102  
Old 16.01.2015, 09:38
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

I made a transfer from CHF into euro last night at 9 pm via UBS e-banking. A notification on screen said that the transfer would be made today (16/01). I just logged into my UBS e-banking ow and see that the transfer has been made and the rate was 1.017605.
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  #103  
Old 16.01.2015, 09:38
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Mafia. When the price was capped transfers were sent out by banks without delay, but as soon as things not go as planned for them they keep them stuck in pending. ZKB does the same.
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  #104  
Old 16.01.2015, 09:42
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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I made a transfer from CHF into euro last night at 9 pm via UBS e-banking. A notification on screen said that the transfer would be made today (16/01). I just logged into my UBS e-banking ow and see that the transfer has been made and the rate was 1.017605.
Then it seems for some reason that this rate is not applied to the ATM machines. Cheers
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  #105  
Old 16.01.2015, 09:48
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

If I buy stuff today priced in euro with my UBS credit card, what rate will I get? The rate which is valid at the moment I make the purchase?
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  #106  
Old 16.01.2015, 10:53
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

http://www.oanda.com/currency/converter/

I use them.

Good rates, small fees.

But: sometimes delays due to several controls.
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  #107  
Old 16.01.2015, 11:04
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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If I buy stuff today priced in euro with my UBS credit card, what rate will I get? The rate which is valid at the moment I make the purchase?
No. You will get the rate valid at the date of booking of this transaction. This may be a day or two ahead. In cases like this I tend to have my transactions done in CHF at spot exchange rates offered by merchants (Amazon or Paypal both let you pay in CHF). In case of UBS credit cards, it makes little sense to use UBS exchange rates, as they hit you with the exchange rate spread (typ. 2.3% + 1.75% foreign exchange surcharge).
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  #108  
Old 16.01.2015, 11:07
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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No. You will get the rate valid at the date of booking of this transaction. This may be a day or two ahead. In cases like this I tend to have my transactions done in CHF at spot exchange rates offered by merchants (Amazon or Paypal both let you pay in CHF). In case of UBS credit cards, it makes little sense to use UBS exchange rates, as they hit you with the exchange rate spread (typ. 2.3% + 1.75% foreign exchange surcharge).
I found this out only after making a big purchase on my mastercard last night I only hope the transaction takes a couple of days to go through.
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  #109  
Old 16.01.2015, 12:31
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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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.



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
My Kantonal Bank ATM was showing a rate of 1.05 yesterday at 13.30 for Euro withdrawals.
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  #110  
Old 16.01.2015, 14:52
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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I found this out only after making a big purchase on my mastercard last night I only hope the transaction takes a couple of days to go through.
Ha! Just got an email to say that my holiday couldn't be confirmed with the Airlines. Bonus! I wonder if this has anything to do with the peg ending yesterday? I paid in Euro but was due to fly from Zürich.
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  #111  
Old 16.01.2015, 23:40
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

quote from Goldman Sachs: This is a massive message from SNB to the market : ECB is going to do QE, and it’s going to be big..

it may well be the end of the euro. The euro already died in 2010 and now we will see the end of it.
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  #112  
Old 17.01.2015, 13:02
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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quote from Goldman Sachs: This is a massive message from SNB to the market : ECB is going to do QE, and it’s going to be big..

it may well be the end of the euro. The euro already died in 2010 and now we will see the end of it.
I wouldn't say that it's an end of the Euro, but for sure when converting CHF to EUR I would wait at least to 22nd Jan for ECB announcement about QE. It is high likely that the conversion rate would be better and for sure situation will be more clear. Another moment worth to wait is 25th Jan, parliamentary elections in Greece, which makes a significant signal for EUR rate.
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  #113  
Old 17.01.2015, 13:55
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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Dream on.......
Quite... I was talking to my FIL this morning and he was thinking that things would calm down over the weekend. The problem is that banks are not interested in doing right or wrong by anyone. Only in making a profit - and to be honest judging by the posts here several people are only interested in working out how they can make some money out of this! - so I have little sympathy for trading companies that have gone bust as they "bet" the wrong way.

Likewise, I have little faith that anything anyone does will actually "fix" this, so it looks like we could all be heading towards a heap of pain long-term.

Oddly enough, people seem to be fixated on the Euro, but this has affected all currencies vs. the CHF. While the bigger issue may be what will happen to the Euro as a currency, as someone living in CH, I am also wanting the CHF and Swiss economy to remain solvent in the face of increasing export costs and lack of competitiveness. With the lack of snow, this summer (assuming the CHF stays strong) is going to be quiet, as no one comes here (bar the Japanese) and all the locals head off around the world for "cheap" holidays...
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  #114  
Old 26.01.2015, 12:38
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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When you write 1.5342 GBP / CHF, you're saying that for every CHF, you get 1.5342 GBP. Read that carefully - you're saying that a single British pound is worth less than a single Swiss franc.

Rather, the reverse is true - you can convert each GBP into 1.5342 CHF (well, not accounting for fees, anyway). 1 GBP = 1.5342 CHF. To put both currencies on the same side of the equation, you either have 1.5342 CHF divided by 1 GBP (1.5342 CHF / GBP), or 1 GBP divided by 1.5342 CHF (0.6518 GBP / CHF).
You're wrong.

When you have a XXX/YYY currency pair, the first currency is known as the base (or reference) currency and is assumed to be one; the second currency is known as the quote (or counter) currency and the figure given is how much of this currency you need to get one of the base currency.

Thus a GBP/CHF of 1.5342 tells you that you that one GBP can buy 1.5342 CHF.

If you have any doubts, just google for "how to read a currency pair".

BTW, do you play poker...?
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  #115  
Old 26.01.2015, 12:44
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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If I buy stuff today priced in euro with my UBS credit card, what rate will I get? The rate which is valid at the moment I make the purchase?
Interestingly, I bought some stuff from the US on my credit card about two hours before the drastic rate change. The rate I actually got when I checked my account a few days later was the 'better' one. So the rate is calculated at settlement time which is later than purchase time. (This was a Postfinance credit card which is, of course, actually a UBS credit card).
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  #116  
Old 30.01.2015, 13:21
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Well I guess there is at least one person who seems not to agree with the OP:

http://www.zerohedge.com/news/2015-0...-will-collapse
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  #117  
Old 30.01.2015, 14:00
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

Totally confused now.
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  #118  
Old 30.01.2015, 14:27
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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Well I guess there is at least one person who seems not to agree with the OP:

http://www.zerohedge.com/news/2015-0...-will-collapse
His Hedge Fund has probably made a big loss. Hoping for a windfall!
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  #119  
Old 30.01.2015, 14:28
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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now
You started this thread on 8th January, and only the foolish ignored you! Well done.
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  #120  
Old 30.01.2015, 14:29
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Re: It may be a good time to buy into Swiss Francs if you're savings are in other cur

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Well I guess there is at least one person who seems not to agree with the OP:

http://www.zerohedge.com/news/2015-0...-will-collapse
That is one of the biggest load of drivel I've read in a long time.
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