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  #121  
Old 22.01.2015, 14:22
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Re: Now a good time to open investment account?

Whether or not it's a good time I'll leave to others, but there a number of threads on choice of platform if you search.

Switzerland isn't ideal for choice and charges -- and banks are certainly not regarded as a good option as they are expensive and inflexible. Usual choices are Swissquote or Interactive Brokers. But search first.
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  #122  
Old 22.01.2015, 15:14
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CHF > GBP? Worth it in this current market

I'm from UK, and so far in Swiss I have 10'000CHF saved in my savings account.

Due to the current market situation, do you guys think now is a good time to transfer this money into GBP and into my UK?

I even had the idea to ask for 4k credit and make extra 800GBP from that

Does anyone recommend this or done something similar in current market?
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  #123  
Old 22.01.2015, 16:15
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Re: CHF > GBP? Worth it in this current market

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I'm from UK, and so far in Swiss I have 10'000CHF saved in my savings account.

Due to the current market situation, do you guys think now is a good time to transfer this money into GBP and into my UK?

I even had the idea to ask for 4k credit and make extra 800GBP from that

Does anyone recommend this or done something similar in current market?
I would and I have transferred most of my CHF savings... nobody knows whether the CHF will rise even more against the GBP or fall though. All I know is, I invest using UK trading brokers and I also want to buy a house in the UK at some point, so I took the opportunity to get a good rate. If it stays where it is or the CHF even rises in value, I'll send some more each month to blighty...! Getting a loan seems a bit excessive though, except if you expect the CHF to fall against the GBP in a big way anytime soon...

Another question to all... are there any tax implications of sending money from CH to GB? Obviously we don't pay tax in both countries and all the tax on the CHF is paid... Thanks
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  #124  
Old 22.01.2015, 16:31
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

Can we just transfer from UBS direct to our UK bank? Or it's better to use some other sort of service for best rate?

Thanks!
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  #125  
Old 22.01.2015, 16:39
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

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Can we just transfer from UBS direct to our UK bank? Or it's better to use some other sort of service for best rate?

Thanks!
Find out what the rate is and then compare with Transferwise, Currencyfair and others?

I use Transferwise as they give a good rate as you may know. I've never even looked at the rate UBS will give you though (and I also bank with them) so if it's any good, please let me know :P
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  #126  
Old 22.01.2015, 16:43
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

Thank you Enoh for your responses, will update you when I contact UBS
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  #127  
Old 22.01.2015, 18:58
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

I believe it's your "destination" bank whose exchange rate you should be checking, as they apply the exchange, afaik.
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  #128  
Old 22.01.2015, 19:16
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

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I believe it's your "destination" bank whose exchange rate you should be checking, as they apply the exchange, afaik.
Rubbish, it all depends on how you give instructions to your bank to transfer. If you give instructions to transfer GBP10k, then they will, debiting your account with the equivalent in Chf, (currently about Chf 13'200.--) and transfer GBP10k as per instructions. If you give instructions to transfer Chf 10k to xyz account with Lloyds of London then then will do it and Lloyds will apply exchange rate and credit you in GBP at THEIR rate for currency transactions which is better than that of hard cash.
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  #129  
Old 22.01.2015, 19:47
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

Maybe by reading this article one may be able to clear the mist of about what is going to happen with the Euro/CHF/US$ etc. http://kingworldnews.com/man-predict...ng-prediction/
May I also remind everyone about the new laws which include Switzerland that allow the Governments to Seize Savings Deposits during a Crisis.http://www.zerohedge.com/news/2014-0...-during-crisis
Enjoy and be cautious on this precarious times.
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  #130  
Old 22.01.2015, 20:19
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

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Rubbish...
Chill down, I stated "as far as I know", as it was as far as I knew, because it happened so to my colleague - obviously had no idea he could "instruct" the bank as to which way to go.

Now I know further, thank you.


@Apollo55 - no one can *predict* anything, it can only be an informed guess
p.s. the fonts are just beautiful on that webpage, so much legitimacy.
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  #131  
Old 23.01.2015, 12:06
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

the euro is dropping like it's hot right now!

1.00 EUR = 0.979943 CHF
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  #132  
Old 23.01.2015, 12:36
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

Yep, just moved a bunch of money into the Euro zone this morning and received rates at parity or below on all of my trades. I accept that it might fall lower still, but I have assets in CHF and liabilities in EUR, and 1:1 is 20% better than what I was getting two weeks ago and about 35% better than what I used as my budgeting figure.

Don't look a gift horse in the mouth, right?
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  #133  
Old 23.01.2015, 12:38
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

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Yep, just moved a bunch of money into the Euro zone this morning and received rates at parity or below on all of my trades. I accept that it might fall lower still, but I have assets in CHF and liabilities in EUR, and 1:1 is 20% better than what I was getting two weeks ago and about 35% better than what I used as my budgeting figure.

Don't look a gift horse in the mouth, right?
a bird in the hand...
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  #134  
Old 23.01.2015, 12:46
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

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a bird in the hand...
...is 20% cheaper in Europe?
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  #135  
Old 23.01.2015, 18:01
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

In hindsight, the best trade to be in was short EUR and long CHF. is parity the new normal for a bit now or will CHF continue to rise? Unlike some folks here with assets in CHF and liabilities in EUR (best case, really), I am assets in USD and liabilities in CHF. A softening in the CHF against the USD won't be bad in my book :-)
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  #136  
Old 26.01.2015, 17:11
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

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the euro is dropping like it's hot right now!

1.00 EUR = 0.979943 CHF
Today the CHF is weakening. Now one Franc buys 0.99 EUR, while this morning it bought 1.02. Hope you people did some bargains during the weekend
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  #137  
Old 26.01.2015, 17:25
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

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Today the CHF is weakening. Now one Franc buys 0.99 EUR, while this morning it bought 1.02. Hope you people did some bargains during the weekend
I currently get a better rate at my company's ATM than on any of the currencyfair, transferwise or ozforex portals
(1.007 CHF = 1 EUR)

Should I go "all in"? (if I intend to open a savings account in euros back home)
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  #138  
Old 26.01.2015, 17:27
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

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I currently get a better rate at my company's ATM than on any of the currencyfair, transferwise or ozforex portals
(1.007 CHF = 1 EUR)

Should I go "all in"?
Same with my bank (online, no need to go to the ATM in the cold). And I have the same doubt
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  #139  
Old 26.01.2015, 17:43
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

How can the EURO not drop further against the CHF, with all the money they intend to print? It does not seem like it will have any effect to the underlying economy. All the while, the SNB is likely pressured to offload hundreds of billions of EUROs, further devaluing it. It seems the things that would prop it up are announcements of structural changes. But until then, any reason to think the EURO will rise, or the CHF drop?

In other words, should I exchange now, or exchange later?
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  #140  
Old 26.01.2015, 17:46
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Re: Investing now that the SNB has removed the Euro peg [Merged threads]

CHF IS dropping (or EUR rising; not sure what's right, haven't compared with other currencies; you can say "EUR per CHF" is for sure going down ), as you can see at least in this moment.
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