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Old 27.04.2015, 23:18
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Question about savings account (PostFinance)

I have had a normal payments account with PostFinance for a couple of years. I recently opened an (e-)savings account and moved some of my money there. I don't want this money to be withdrawable with my PostCard and I plan to put away a part of my salary every month in this account.

In the terms of the savings account it says that you cannot do more than 10 withdrawals per year and you must give prior notice for withdrawing large sums etc.

My silly question is: What do withdrawals include? If I log in to my e-finance and move 100chf from the savings account to my payments account, does this count as a withdrawal? Is there a lower threshold? I know my question is basic and probably stupid but I am new to this and I would appreciate some help.

Thanx!!
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Old 28.04.2015, 11:11
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Re: Question about savings account (PostFinance)

Yes i am pretty sure this counts as one of your 10 withdrawals before fees kick in. Alternatively on the website when logged in I find that they answer within a day when logged in
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Old 28.04.2015, 11:12
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Re: Question about savings account (PostFinance)

Any movement out of the e-savings account counts as a withdrawal.

You can make 10 withdrawals for free per year, up to a total of CHF100,000 during the calendar year. If you make more than 10 withdrawals, each extra costs CHF8. If you want to withdraw more than CHF100k, you have to give them 3 months' notice or you get charged 1% of the withdrawal aver the CHF100k limit.

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I have had a normal payments account with PostFinance for a couple of years. I recently opened an (e-)savings account and moved some of my money there. I don't want this money to be withdrawable with my PostCard and I plan to put away a part of my salary every month in this account.

In the terms of the savings account it says that you cannot do more than 10 withdrawals per year and you must give prior notice for withdrawing large sums etc.

My silly question is: What do withdrawals include? If I log in to my e-finance and move 100chf from the savings account to my payments account, does this count as a withdrawal? Is there a lower threshold? I know my question is basic and probably stupid but I am new to this and I would appreciate some help.

Thanx!!
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Old 30.04.2015, 08:54
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Re: Question about savings account (PostFinance)

Thanks everybody for your answers! It is clear now.
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Old 30.04.2015, 11:09
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Re: Question about savings account (PostFinance)

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Thanks everybody for your answers! It is clear now.
Hope you got your answer from PostFinance and not from this thread. Isn't there a difference between a transfer and a withdrawal?
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Old 30.04.2015, 11:13
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Re: Question about savings account (PostFinance)

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Yes i am pretty sure this counts as one of your 10 withdrawals before fees kick in. Alternatively on the website when logged in I find that they answer within a day when logged in
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Hope you got your answer from PostFinance and not from this thread. Isn't there a difference between a transfer and a withdrawal?
I think Yorksman is wrong. Transferring from your Postfinance "current" account to your savings account does not constitute a withdrawl from your savings account. It's a just a normal transfer.
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Old 30.04.2015, 11:13
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Re: Question about savings account (PostFinance)

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Hope you got your answer from PostFinance and not from this thread. Isn't there a difference between a transfer and a withdrawal?
No there is not, a transfer withdraws money from the account, which then the OP will presumably spend. Had charges from PF once that exceeded the interest several times over because of this.
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Old 30.04.2015, 11:16
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Re: Question about savings account (PostFinance)

The question was: "If I log in to my e-finance and move 100chf from the savings account to my payments account, does this count as a withdrawal?"

Yorksman was absolutely correct - this is a withdrawal from the e-savings account, and counts as one of your 10 allowed withdrawals and also as part of your allowed CHF 100k per calendar year withdrawals.

Rigormortis and Grumpy are wrong on this one I'm afraid.
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Old 30.04.2015, 11:52
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Re: Question about savings account (PostFinance)

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Hope you got your answer from PostFinance and not from this thread. Isn't there a difference between a transfer and a withdrawal?
No I haven't asked them since I don't really intend to make such transfers. I was just asking out of curiosity. Yorksman's answer was what I suspected as well. It makes sense to be this way
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Old 30.04.2015, 11:57
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Re: Question about savings account (PostFinance)

The details are actually pretty clear in the table at the bottom of this page:

https://www.postfinance.ch/en/priv/p...dep/offer.html
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Old 01.05.2015, 18:27
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Re: Question about savings account (PostFinance)

Yes it's a withdrawal, i tried it personally. It wouldn't make sense otherwise you could just use the e-savings account for everything (like just transfer the money you need when you need it) and benefit from the better interest rate.
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