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Old 14.04.2021, 17:43
jim1 jim1 is offline
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Re: PostFinance upping their fees

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And anyone who wants to earn interest on their deposits... SNB rates are negative. Be happy that you are not being charged interest. It already happens to HNW clients and slowly, but surely will creep downwards until the SNB makes rates positive, which I can‘t see happening until the ECB do, which I can‘t see happening until the Eurozone is back on its feet (or breaks up).
Most of us were brought up in a world where banks paid interest on cash deposits. That world effectively came to an end in 2008.

In the new world the 3 month CHF LIBOR interest rate has been -0.75% for >10 years. Banks have to find new ways to pass costs on to us which is why we are seeing new fees

This is driven by government policies globally to avoid a crash in asset prices and economic collapse, it is not the fault of the banks.

The impact is a transfer of wealth from prudent savers holding cash at the bank to subsidise people investing in assets like property and shares whose prices have both rocketed. If you aren't part of the latter group you are on the wrong side of government policy

Last edited by jim1; 14.04.2021 at 17:47. Reason: typo
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