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Old 08.04.2021, 22:36
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Swiss payment systems

Hello,

Just ranting here but I am seriously tired of the Swiss banking system and how outdated they are for a "Banking" country. Like seriously...Orange slips and wire transfers for most payments? Were living in 2021, and all the mobile payments and so called online banking is just an extension of these strangely outdated methods.

The reality is that Switzerland is only known for its private banking, not its actual banking service. Please modernize it! And I already know people are going to come in say this is how its done in Switzerland bla bla bla. All I see is an out dated system.

All in all, my hypothesis is that Switzerland adopts change very slowly (for the better and for the worse). It involves its strong national identity, and interpreting change as attacks towards its sovereignty.
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Old 08.04.2021, 22:49
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Re: Swiss payment systems

what exactly are you complaining about? Orange payment slips have been superseded by QR code payment slips since last year. Banking Apps can scan most payment slips.

I don't know what a wire transfer is.
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Old 08.04.2021, 22:52
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Re: Swiss payment systems

I was also surprised when I came here for the first time. The technology adoption on things like online banking, money transfers, payment apps seems to be much more even in a country like India.

To the outdated stuff, add all the letters that arrive by post for even the smallest of things.
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Old 08.04.2021, 22:57
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what exactly are you complaining about? Orange payment slips have been superseded by QR code payment slips since last year. Banking Apps can scan most payment slips.

I don't know what a wire transfer is.
I'm literally complaining about everything. The QR code payment slip is literally the same thing but instead of scanning number you are scanning a pixelated block. An online system would let you pay things online without taking your phone out to take a photo of your screen...

Not to mention, everything I get from my bank (BKB) comes in the post. For some reason they cannot communicate anything without a 2-3 Day delay and through the post.
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Old 08.04.2021, 22:58
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Re: Swiss payment systems

You assume everyone has or wants a mobile phone. Sorry, but no. While I do my Swiss banking mostly online I use the orange slips because I don't have or want a mobile phone. I pay my taxes by sending the orange slips off in the post to be paid from our post account.
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Old 08.04.2021, 23:00
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Re: Swiss payment systems

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You assume everyone has or wants a mobile phone. Sorry, but no. While I do my Swiss banking mostly online I use the orange slips because I don't have or want a mobile phone. I pay my taxes by sending the orange slips off in the post to be paid from our post account.
I'm not assuming that, but that is exactly what I'm talking about. The fact that you're talking about mobile phones like their new technology already proves my point. Were living in 2021, you can do your banking through a teller if you want but the reality is that the swiss system is outdated. If you prefer your way that's a different story. Its just that the rest of the world has moved on (I have lived in Hong Kong, New York, and London)
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Old 08.04.2021, 23:03
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Re: Swiss payment systems

There's a thing called e-bill. Invoices are sent directly to your bank web site. You just click I want to pay or not. There's a possibility to pre-approve/automate e-bill invoices but I'm not that brave to do it.

What do you mean by wire transfers? There are SEPA and SWIFT transfers. SEPA is Single Euro Payments Area and it costs nothing. SWIFT is for payments for the rest of the world, work fine. Sometimes I send money home and it takes a few hours because for some reason the bank at home does not process payments during the night....poor servers need to sleep

PS. during the last year I started using TWINT because most small shop owners started receiving payments this way: farms, winemakers, cheese sales, etc.
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Old 08.04.2021, 23:18
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Re: Swiss payment systems

indeed ebills have been around for 15+ years. If you don't want paper-based everything, talk to your bank. I get no pieces of paper from mine.

I've banked with CS, UBS, PF and more. They all hook into ebills and more (which is pushed around by SIX IIRC).
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Old 09.04.2021, 00:39
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Re: Swiss payment systems

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I'm not assuming that, but that is exactly what I'm talking about. The fact that you're talking about mobile phones like their new technology already proves my point. Were living in 2021, you can do your banking through a teller if you want but the reality is that the swiss system is outdated. If you prefer your way that's a different story. Its just that the rest of the world has moved on (I have lived in Hong Kong, New York, and London)
The reality is that the majority of Swiss customers are happy with the system and they really have no interest in changing. And until they do the banks won’t change either. Various electronic solutions have been offered over the years but apart from the young and the expats the up take has not been great.

When it comes to finance in Switzerland, nobody is in a hurry to part with money. There is a tradition, you collect your invoices for the month and at the end you pay them all at once. On large ticket items you normally get three months to pay, my dentist takes 6 months to send an invoice etc...

Tell Swiss people that you have come up with a quicker more efficient way of relieving them of their cash is not much of a selling point. There is nothing in it for them.
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Old 09.04.2021, 00:51
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Re: Swiss payment systems

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The reality is that the majority of Swiss customers are happy with the system and they really have no interest in changing. And until they do the banks won’t change either. Various electronic solutions have been offered over the years but apart from the young and the expats the up take has not been great.

When it comes to finance in Switzerland, nobody is in a hurry to part with money. There is a tradition, you collect your invoices for the month and at the end you pay them all at once. On large ticket items you normally get three months to pay, my dentist takes 6 months to send an invoice etc...

Tell Swiss people that you have come up with a quicker more efficient way of relieving them of their cash is not much of a selling point. There is nothing in it for them.
And you can leave shops with hundreds of CHF or more in products and services without paying at the moment. The idiotic orange payment slip is an implicit 30-day credit. If the shopkeeper is lazy enough to make the invoice right away and promise to send it by post, you get 2-3 months of credit. God bless complacency and outdated technologies
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Old 09.04.2021, 00:53
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Re: Swiss payment systems

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The reality is that the majority of Swiss customers are happy with the system and they really have no interest in changing. And until they do the banks won’t change either. Various electronic solutions have been offered over the years but apart from the young and the expats the up take has not been great.

When it comes to finance in Switzerland, nobody is in a hurry to part with money. There is a tradition, you collect your invoices for the month and at the end you pay them all at once. On large ticket items you normally get three months to pay, my dentist takes 6 months to send an invoice etc...

Tell Swiss people that you have come up with a quicker more efficient way of relieving them of their cash is not much of a selling point. There is nothing in it for them.
This is a very good way to put it! Its quite interesting how the swiss culture/society manages to hold capitalism and all its craziness at bay just from being traditionalists and old school. That being said, I still very much miss the UK/US online banking systems because they're made for "everyone". I think most things in Switzerland caters 95% towards Swiss people.
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Old 09.04.2021, 06:22
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Re: Swiss payment systems

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This is a very good way to put it! Its quite interesting how the swiss culture/society manages to hold capitalism and all its craziness at bay just from being traditionalists and old school. That being said, I still very much miss the UK/US online banking systems because they're made for "everyone". I think most things in Switzerland caters 95% towards Swiss people.
Most societies do. Politicians get elected because the represent the views and aspirations of their electorate.
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Old 09.04.2021, 06:37
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Re: Swiss payment systems

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This is a very good way to put it! Its quite interesting how the swiss culture/society manages to hold capitalism and all its craziness at bay just from being traditionalists and old school. That being said, I still very much miss the UK/US online banking systems because they're made for "everyone". I think most things in Switzerland caters 95% towards Swiss people.
Except all those "everyones" like me who don't want a mobile and hate that more and more online services require you to have one to be able to use those services.
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Old 09.04.2021, 06:42
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Re: Swiss payment systems

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Hello,

Just ranting here but I am seriously tired of the Swiss banking system and how outdated they are for a "Banking" country. Like seriously...Orange slips and wire transfers for most payments? Were living in 2021, and all the mobile payments and so called online banking is just an extension of these strangely outdated methods.

The reality is that Switzerland is only known for its private banking, not its actual banking service. Please modernize it! And I already know people are going to come in say this is how its done in Switzerland bla bla bla. All I see is an out dated system.

All in all, my hypothesis is that Switzerland adopts change very slowly (for the better and for the worse). It involves its strong national identity, and interpreting change as attacks towards its sovereignty.
I really am a little confused by this post. Is Switzerland the "most modern" banking system? Nope. Is it modern, though? Yup. Your statement "Like seriously...Orange slips and wire transfers for most payments" is not true because that is not how most payments are done.
  1. You can sign up to e-billing for 95% of your regular bills. I hardly ever get anything by paper unless it's a one-off bill (not recurring).
  2. You can pay in all stores by TWINT or bank card.
  3. Online banking systems are good (I use Postfinance).
  4. I have cash in my wallet that I have not used in literally months.

To me it sounds like you are new here and you just haven't yet got yourself set up and running smoothly. It takes some time to figure everything out and it is not generally done automatically for you.

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You assume everyone has or wants a mobile phone. Sorry, but no.
Ok boomer.

All Swiss banks that I know of now use Multi Factor Authentication is via telephone and assume that 99.9% of their clients have and use a phone. In addition, phone banking apps for the big banks are now very good and well developed.

People who refuse to get a mobile phone (wilful ignorance), or for whatever reason cannot use one (acceptable reason, but usually very old), are an absolute minority and progression and convenience with everyday essentials like banking should not be held back by them in any way.

Last edited by Chuff; 09.04.2021 at 08:27.
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Old 09.04.2021, 07:07
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Re: Swiss payment systems

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There is a tradition, you collect your invoices for the month and at the end you pay them all at once.
Not so long ago this involved going to your bank to withdraw the cash by talking to the person behind the counter and then going to the PTT office with the BVRs in one hand and the cash in the other. You would stand in a queue for a while before handing the BVR to another person behind the counter who would do their thing stamping and separating the BVR before giving you the total. Sometimes in French French (quatre vight dix neuf vs nonante neuf). Then you would go home attack what remains of the BVR with a two-hole punch and file your receipts in a two ring binder.

I had come from a country that used cheques exclusively to pay bills, it was a bit of a shock.
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Old 09.04.2021, 07:11
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Re: Swiss payment systems

People are not required to use a phone as a phone, they do so many other things.
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Old 09.04.2021, 07:18
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Re: Swiss payment systems

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Not so long ago this involved going to your bank to withdraw the cash by talking to the person behind the counter and then going to the PTT office with the BVRs in one hand and the cash in the other. You would stand in a queue for a while before handing the BVR to another person behind the counter who would do their thing stamping and separating the BVR before giving you the total. Sometimes in French French (quatre vight dix neuf vs nonante neuf). Then you would go home attack what remains of the BVR with a two-hole punch and file your receipts in a two ring binder.

I had come from a country that used cheques exclusively to pay bills, it was a bit of a shock.
You can still pay your bills in cash at the PTT, and most people in the US still use checks!

Tom
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Old 09.04.2021, 08:22
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Re: Swiss payment systems

When I lived in Canada, I was super shocked that they still use cheques over there.

We haven't used cheques in Switzerland for payments for I don't know how many years.

Talking about perspectives

There are still a majority of people who can't or don't want to deal with online payments, either because they don't trust it, or because they are not able to (elderly, no smart phone or computer, etc.).

I tried to get my mom to sign up for e-banking but we gave up after a couple of months. Although she is by no means considered old, she isn't interested in technology and she does not understand it. She uses email but she still doesn't know how it works (not that she cares, mind you). She loves going to the post office and pay her bills at the end of the month, it's a social activity as she usually runs into people she knows while queuing.

I signed up for e-banking when it first came available and haven't received any paper bills since.
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Old 09.04.2021, 09:35
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Re: Swiss payment systems

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An online system would let you pay things online without taking your phone out to take a photo of your screen...
I use this ancient technology called a "credit card" for this., because of the additional security it offers against merchant credit card misuse. Or I get the invoice with the goods. I'd use TWINT if the need arose.

And BKB... well, the cantonal banks tend not to be the most modern. I still see my bank manager to renew my mortgage!
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Old 09.04.2021, 09:46
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Re: Swiss payment systems

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This is a very good way to put it! Its quite interesting how the swiss culture/society manages to hold capitalism and all its craziness at bay just from being traditionalists and old school.
That capitalism and old school does give you the nice salary though and that probably much higher than in other countries. Or what was the reason you wanted a job here???
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