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Old 17.08.2021, 09:46
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Raiffeisen not re-buying USD any longer(?)

So a couple of years ago I bought 7500 USD for a trip to the US that never happened. Yesterday I went to the local office of the Raiffeisen in my village and they were 'terrified' when they saw the USD. They said that they do not buy dollars anymore. They even asked me where had I bought them. -None of your business lady! (I should have answered)

They addressed me to the SBB or one of the big banks in Switzerland, where I could exchange them back into CHF and then come back to their office. I couldn't believe it, so after insisting that it was not possible. They called a central office somewhere and they answered the same. No more USD buying by Raiffeisen...

Just to share my experience.
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Old 17.08.2021, 10:17
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Re: Raiffeisen not re-buying USD any longer(?)

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So a couple of years ago I bought 7500 USD for a trip to the US that never happened. Yesterday I went to the local office of the Raiffeisen in my village and they were 'terrified' when they saw the USD. They said that they do not buy dollars anymore. They even asked me where had I bought them. -None of your business lady! (I should have answered)

They addressed me to the SBB or one of the big banks in Switzerland, where I could exchange them back into CHF and then come back to their office. I couldn't believe it, so after insisting that it was not possible. They called a central office somewhere and they answered the same. No more USD buying by Raiffeisen...

Just to share my experience.
That sounds weird. Until last year I had a US$ account with Raiffeisen which I closed due to not doing business with the US anymore. This month I received a payment from the US in $ and it was changed/put on my Swiss account without questions.

As a Raiffeisen client I could order foreign cash to be sent to me by mail. I'm pretty sure that includes dollars. So if they hand them out, they obviously buy it too?
Still, interesting post. I take it you asked them why? (Because that would be the obvious thing to do imo ) so will you reveal their answer to us too?
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Old 17.08.2021, 12:19
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Re: Raiffeisen not re-buying USD any longer(?)

Not all RF banks are the same. Each one goes basically by their own rules depending on personal moods and time of day. They mostly make the news when robbed or some banker gets innovative and messes up.
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Old 17.08.2021, 13:01
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Re: Raiffeisen not re-buying USD any longer(?)

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So a couple of years ago I bought 7500 USD for a trip to the US that never happened. Yesterday I went to the local office of the Raiffeisen in my village and they were 'terrified' when they saw the USD. They said that they do not buy dollars anymore. They even asked me where had I bought them. -None of your business lady! (I should have answered)

They addressed me to the SBB or one of the big banks in Switzerland, where I could exchange them back into CHF and then come back to their office. I couldn't believe it, so after insisting that it was not possible. They called a central office somewhere and they answered the same. No more USD buying by Raiffeisen...

Just to share my experience.
I had a somewhat similar experience. I think Raiffeissen is super allergic to anything USD or closely associated. They had more questions to ask than the local bureau of investigation. I guess their staff on the floor mix it with FATCA somehow.
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Old 17.08.2021, 19:33
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Re: Raiffeisen not re-buying USD any longer(?)

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That sounds weird. Until last year I had a US$ account with Raiffeisen which I closed due to not doing business with the US anymore. This month I received a payment from the US in $ and it was changed/put on my Swiss account without questions.

As a Raiffeisen client I could order foreign cash to be sent to me by mail. I'm pretty sure that includes dollars. So if they hand them out, they obviously buy it too?
Still, interesting post. I take it you asked them why? (Because that would be the obvious thing to do imo ) so will you reveal their answer to us too?
Actually I didn't ask for reasons. They looked so surprised that I didn't dare to ask. It seemed obvious for them, that nowadays selling USD is a sin... all I asked was if I could sell it in a another office, that's when they called somewhere else. In any case today, I passed by an office of the AKB and I asked about it.
-Yes sure, no problem. Why would it be?
I'll try to sell them tomorrow.
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Old 17.08.2021, 19:48
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Re: Raiffeisen not re-buying USD any longer(?)

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So a couple of years ago I bought 7500 USD for a trip to the US that never happened. Yesterday I went to the local office of the Raiffeisen in my village and they were 'terrified' when they saw the USD. They said that they do not buy dollars anymore. They even asked me where had I bought them. ....
You should have replies "Er.. here. Two years ago.".

Took some dollars to UBS in Basel. They have a machine for spotting fakes. Out of $1000, there were 3 fake notes. They said this is normal. But we could only have $997 worth of francs.
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Old 17.08.2021, 20:41
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Re: Raiffeisen not re-buying USD any longer(?)

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You should have replies "Er.. here. Two years ago.".

Took some dollars to UBS in Basel. They have a machine for spotting fakes. Out of $1000, there were 3 fake notes. They said this is normal. But we could only have $997 worth of francs.
Thatís odd. UBS charge 1% for processing USD cash.
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Old 18.08.2021, 05:13
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Re: Raiffeisen not re-buying USD any longer(?)

Decades ago, some of the banks in California would not cash 500 US$ Traveller Cheques, told me to open a bank account with them, I was a tourist.
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Old 18.08.2021, 08:22
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Re: Raiffeisen not re-buying USD any longer(?)

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RT
Actually I didn't ask for reasons. They looked so surprised that I didn't dare to ask. It seemed obvious for them, that nowadays selling USD is a sin... all I asked was if I could sell it in a another office, that's when they called somewhere else. In any case today, I passed by an office of the AKB and I asked about it.
-Yes sure, no problem. Why would it be?
I'll try to sell them tomorrow.


Actually the banks are going bonkers left and right, it seems. One tells me they "totally reorganized" themselves, therefore I got a new account-no., nothing changes yet I have to sign this new agreement () and "what do you mean, the agreement is not in your correct name, just change it by hand, sign it, now!". If you refuse they tell you, they are in discussion with the technical support, whether it is technically possible (to replace the agreement to my correct name!!!).
You gotta take it as a joke and laugh - or it will drive you nuts.
Time to return to grandma's system, the mattress. Maybe invent a burglarproof one?
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Old 18.08.2021, 09:09
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Re: Raiffeisen not re-buying USD any longer(?)

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Time to return to grandma's system, the mattress. Maybe invent a burglarproof one?
It seems that the 'cash desk' of the AKB is only opened from 10am to 12am.
I'm afraid banks will be soo soon shocked with anyone asking to deposit CHF in cash.
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Old 18.08.2021, 14:13
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Re: Raiffeisen not re-buying USD any longer(?)

Just recently I asked my son to take the $1,500 odd I had in a drawer but no longer need as I won't be going to the US for some time. He went to Raiffeisen. changed to CHF and put them on my account (minus HIS commission of course ) without any problem at all.
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