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Old 11.02.2015, 11:13
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No love for Raiffeisen bank at EF?

Hi all,

I will soon move to Zurich and I am checking in which bank should I open an account. I think Postfinance would be the one since I have read here mostly good things.

However, I was wondering what are the reasons there are almost no post about Raiffeisen in this forum. A quick search and I found only 12 posts!!! (more with Google powered though)

12 Raiffeisen

85 Postfinance

100 UBS

Why is this the case? Do they suck so much?

I have read that it might take some effort to get an account.

Raiffeisen rejects expats with poor German

My Italian is not so bad, at least I understand when I read it, since I speak Spanish (and had taken Italian lessons).

My main attraction is the Raiffeisen member plus, where many museums are free, and you get discounts in other stuff too (like skipasses).

http://memberplus.raiffeisen.ch

Any reason why should I not even try this bank?
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Old 11.02.2015, 11:16
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Re: No love for Raiffeisen bank at EF?

Raiffeisen won't do any documentation or internet banking in English. Where as UBS, CS & PF will.

… also, I remember my OH having issues withdrawing money over the counter in a branch different to the one where he held the account. I think each branch may be a separate entity, rather than one big bank. The branch had to ring his home branch to get permission to give him some cash (No idea why he didn't have a card).
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Old 11.02.2015, 11:22
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Re: No love for Raiffeisen bank at EF?

There is no drawback at all with Raiffeisen, it started as an Austrian farmers' bank, so some people do look down on it.

Some of their banks have only 2 or 3 branches! There are many local banks, all under the Raiffeisen umbrella. Generally there are no complaints and their charges are reasonable.

In my opinion they are not better than Post Finance, but that is just my opinion.
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Old 11.02.2015, 11:28
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Re: No love for Raiffeisen bank at EF?

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Raiffeisen won't do any documentation or internet banking in English. Where as UBS, CS & PF will.
Thanks! I live in Norway now, and in my current bank not everything is in English. So with what I know about Norwegian and with some Google translate, I manage my account pretty well. So I am planning on doing the same with Italian and eventually when I am more proficient with German.

To be honest, I am only considering them because of the membership advantages. I like going to museums and I like skiing, so it might be worth it.
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Old 11.02.2015, 11:28
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Re: No love for Raiffeisen bank at EF?

As basically a farmers bank, you will often find branches in small villages, but less presence in large cities. Further, they do not accept american clients.
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Old 11.02.2015, 11:34
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Re: No love for Raiffeisen bank at EF?

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As basically a farmers bank, you will often find branches in small villages, but less presence in large cities. Further, they do not accept american clients.
Ok, good point. But at least in Zurich they have two branches. And can't you pay with debit everywhere you go in Switzerland? Or do you still need cash?

It has been ages since I have taken money from an ATM in Norway. I only do it when I am abroad.

And I am not American. I am Japanese.

Last edited by murphy70; 11.02.2015 at 11:57.
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Old 11.02.2015, 11:51
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Re: No love for Raiffeisen bank at EF?

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Ok, good point. But at least in Zurich they have two branches. And can't you pay with debit everywhere you go in Switzerland? Or do you still need cash?

It has been ages since I have taken money from an ATM in Norway. I only do it when I am abroad.

And I am not American.
I am using them since February 2014 in addition to my a/c with CS.
I can withdraw cash using my ATM card anywhere -including abroad.
Their ebanking is no different to CS; maybe slightly handier for domestic payments since for some account numbers they immediately show the account holder name.
I do not do much with them, apart from ebanking and regular small cash withdrawals, and there no complaints so far.
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Old 11.02.2015, 12:09
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Re: No love for Raiffeisen bank at EF?

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Ok, good point. But at least in Zurich they have two branches. And can't you pay with debit everywhere you go in Switzerland? Or do you still need cash?

It has been ages since I have taken money from an ATM in Norway. I only do it when I am abroad.

And I am not American.
You might not "need" cash, but unlike Norway and Sweden which are encouraging the trend towards cashless commerce for everyday purposes, Swiss people (and people living in CH?) quite often pay in cash. Only if you are lucky and choose the right machine with the right options will you be dispensed anything smaller than a 100sfr note. Noone will even raise eyebrows if you want to pay for a coffee with a 200 sfr note.

Recently I was at the local ski shop having bindings adjusted and an older woman (65+ plus I would reckon) was buying herself a new helmet. When asked if she wanted to pay cash or card she initially said card, then hearing it was 269sfr said, "oh, I'll pay cash then" and pulled out a 500sfr note. Convert that to noks and you will realise that not many people in Norway keep cash like that in their wallets (certainly not since pickpocketing has become popular, in Oslo at least)

We have ZKB, no complaints. When in Norway we had Nordea, if that is any comparison. My experience is that all the little perks that banks offer to attract customers are just one way to cover up something else, and are those perks only for first year or as long as you hold account?
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Old 11.02.2015, 13:54
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Re: No love for Raiffeisen bank at EF?

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We have ZKB, no complaints. When in Norway we had Nordea, if that is any comparison. My experience is that all the little perks that banks offer to attract customers are just one way to cover up something else, and are those perks only for first year or as long as you hold account?
As far as I can see, one needs 5000 chf in the account to be part of member plus. And the first year you have the Maestro/Credit card for free.

Not sure what are the other monthly/yearly charges to have an account at the bank though.
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Old 11.02.2015, 14:00
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Re: No love for Raiffeisen bank at EF?

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You might not "need" cash, but unlike Norway and Sweden which are encouraging the trend towards cashless commerce for everyday purposes, Swiss people (and people living in CH?) quite often pay in cash. Only if you are lucky and choose the right machine with the right options will you be dispensed anything smaller than a 100sfr note. Noone will even raise eyebrows if you want to pay for a coffee with a 200 sfr note.

Recently I was at the local ski shop having bindings adjusted and an older woman (65+ plus I would reckon) was buying herself a new helmet. When asked if she wanted to pay cash or card she initially said card, then hearing it was 269sfr said, "oh, I'll pay cash then" and pulled out a 500sfr note. Convert that to noks and you will realise that not many people in Norway keep cash like that in their wallets (certainly not since pickpocketing has become popular, in Oslo at least)

We have ZKB, no complaints. When in Norway we had Nordea, if that is any comparison. My experience is that all the little perks that banks offer to attract customers are just one way to cover up something else, and are those perks only for first year or as long as you hold account?
269.- for a helmet! She was ripped off.
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Old 11.02.2015, 14:13
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Re: No love for Raiffeisen bank at EF?

I've been with Raiffeisen for 3+ years and haven't had a problem. As a member, the card has been real handy at multiple museums.
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Old 11.02.2015, 14:28
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Re: No love for Raiffeisen bank at EF?

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Recently I was at the local ski shop having bindings adjusted and an older woman (65+ plus I would reckon) was buying herself a new helmet. When asked if she wanted to pay cash or card she initially said card, then hearing it was 269sfr said, "oh, I'll pay cash then" and pulled out a 500sfr note. Convert that to noks and you will realise that not many people in Norway keep cash like that in their wallets (certainly not since pickpocketing has become popular, in Oslo at least)
That was a cheap helmet.
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Old 11.02.2015, 15:00
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Re: No love for Raiffeisen bank at EF?

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269.- for a helmet! She was ripped off.
I too was a bit shocked, but I don't know the range of helmets (prices/features) and she had goggles too. I must say she looked quite alpine chic Guess it is nice she shops local, since clearly the price was just a bit of spending money..
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Old 11.02.2015, 15:02
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Re: No love for Raiffeisen bank at EF?

Probably it is a little out of the scope for daily banking activities, but I once went to a Raiffeisen branch, asking for a mortgage offer (the dealer recommended me so). They checked and said the property I wanted to buy is located in another region, so I have to go to another branch of them. In fact the property is just 5min away by car from that Raiffeisen branch. I then had the impression that this bank is very very local. Not sure if it would have any negative impact on daily banking activities, but since there are plenty of banks to choose out there, I would not use such a local bank just to avoid potential inconvenience in the future.
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Old 11.02.2015, 15:09
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Re: No love for Raiffeisen bank at EF?

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I too was a bit shocked, but I don't know the range of helmets (prices/features) and she had goggles too. I must say she looked quite alpine chic Guess it is nice she shops local, since clearly the price was just a bit of spending money..
My Sweet Rooster helmet (Carbon fibre) cost 300-400chf …. but it's worth it because it's very thin and I have a pin-head, cheaper helmets make me look ridiculous….. I also wear it nearly every day & my last one lasted me 6 years.
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Old 11.02.2015, 15:34
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Re: No love for Raiffeisen bank at EF?

I am with Raiffeisen since July 2014.
Moved from a Kantonalbank which introduced more fees!

So far, i get free entrance to Museums. The last one was Lenzburg Castle .
50% Off on certein Ski area. Used it for Davos/Kloster .
25-50% Off on concert Tickets, etc.
e-Banking is easy. So far no complain...
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Old 11.02.2015, 15:41
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Re: No love for Raiffeisen bank at EF?

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Probably it is a little out of the scope for daily banking activities, but I once went to a Raiffeisen branch, asking for a mortgage offer (the dealer recommended me so). They checked and said the property I wanted to buy is located in another region, so I have to go to another branch of them. In fact the property is just 5min away by car from that Raiffeisen branch. I then had the impression that this bank is very very local. Not sure if it would have any negative impact on daily banking activities, but since there are plenty of banks to choose out there, I would not use such a local bank just to avoid potential inconvenience in the future.
We consulted Raiffeisen about a mortgage when we bought our flat. Despite there being a branch in our commune (and just up the road from the flat), the appointment was at (what I presume is) the regional HQ in a completely different commune.
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Old 11.02.2015, 15:56
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Re: No love for Raiffeisen bank at EF?

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I am with Raiffeisen since July 2014.
Moved from a Kantonalbank which introduced more fees!

So far, i get free entrance to Museums. The last one was Lenzburg Castle .
50% Off on certein Ski area. Used it for Davos/Kloster .
25-50% Off on concert Tickets, etc.
e-Banking is easy. So far no complain...
Could you elaborate on the yearly fees of having an account + membership Plus?
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Old 11.02.2015, 18:02
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Re: No love for Raiffeisen bank at EF?

Hi,
We are with Raiffeisen because they gave us the best mortgage deal. Service is good for us. Cards no problem -you do join the local branch which has some of its own deals etc.
If you do not fancy Raiffeisen or a big bank, the Migrosbank or a Kantonalbank should do fine.
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Old 11.02.2015, 18:41
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Re: No love for Raiffeisen bank at EF?

About 3 years ago, I went into the Raiffeisen branch on the Limmatquai here in Zürich, and asked in my very best German if I could join. Immediately upon hearing that I lived in Zumikon rather than in the city, the cashier pointed to the door and indicated I should use it forthwith. I am not kidding . End of negotiations. I obediently trotted out, head hanging. As others have said, they certainly seem very local, and were clearly not remotely interested in handling our finances.

We use PostFinance, who were less fussy......

Hobs
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