View Poll Results: Who do you bank with? |
UBS
|    | 50 | 49.50% |
Credit Suisse
|    | 24 | 23.76% |
Zürich Kantonal
|    | 12 | 11.88% |
MigrosBank
|    | 3 | 2.97% |
Die Post
|    | 14 | 13.86% |
Other
|    | 18 | 17.82% |
Consumer banking is for masses
|    | 3 | 2.97% |  | | | 
30.08.2006, 18:50
|  | Senior Member | | Join Date: Aug 2006 Location: formerly Zürich
Posts: 446
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| | Re: Consumer banking in Switzerland.
I believe the clause about products not being available to US persons refers to investment products such as mutual funds which may not have been approved for sale in the US.
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06.09.2006, 20:06
|  | Forum Veteran | | Join Date: May 2006 Location: Uk now after Neuchatel
Posts: 1,221
Groaned at 3 Times in 3 Posts
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| | Re: Consumer banking in Switzerland.
Ok, an update on my credit card list. The new Migros CC card allows you to collect points for every franc you spend anywhere. 1 for 1 in Migros and 1 point for two francs elsewhere.
If I remember correctly, you thus get 0.5% of expenditure outside Migros back, as it is normally 1%, so put this against the 2% you pay on foreign transactions and you have 1.5% left.
Then again, you do not get perks like insurance with this card. But I find the idea that I have to keep track of when my card will be renewed with UBS annoying. I mean, if you want it to be free the next year, you have to send in this coupon with your keyclub points right? A bit of a hassle as it is another deadline to remember...but please correct me if I am wrong.
Last edited by muze7; 06.09.2006 at 21:07.
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23.11.2006, 20:52
| Forum Veteran | | Join Date: Dec 2005 Location: ch
Posts: 2,291
Groaned at 34 Times in 34 Posts
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| | Re: Consumer banking in Switzerland.
When I opened my bank account with UBS they refused me a credit card on account of my L-Permit status. I contacted them a few months ago with a new request and once again I was told there was no chance on an L-permit.
Today I emailed them saying that although I was happy with the service and online banking, I was very unhappy about not being offered a credit card and that I was now forced to take my banking elsewhere.
Two minutes later I got a phone call from them asking who on earth had refused me, and judging by the balance in my account they would send me the paperwork immediately.
So for those on L-Permits who get refused credit cards from banks, just threaten to take your business elsewhere.
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23.11.2006, 21:11
|  | Forum Veteran | | Join Date: Sep 2006 Location: Zurich near Zug
Posts: 1,251
Groaned at 82 Times in 48 Posts
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| | Re: Consumer banking in Switzerland.
Any bank here is the same, the same people who work in these places, move around in the same industry. NO need to move your account, move your mind.
You can even get almost zero charges for taking mortgages if you can convince them you are a "high worth" customer. My ex-colleague did.
Just earn enough money to qualify for free transactions and credit card. 
HAT
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23.11.2006, 22:50
|  | Senior Member | | Join Date: Oct 2006 Location: Hombrechtikon
Posts: 302
Groaned at 12 Times in 4 Posts
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| | Re: Consumer banking in Switzerland.
Started with ZKB when I first arrived and never needed to change. Internet banking works fine. Has the hidden text thing finished yet or is it on going
DC
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30.11.2006, 11:56
|  | Senior Member | | Join Date: Nov 2006 Location: zurich
Posts: 489
Groaned at 2 Times in 2 Posts
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| | Re: Consumer banking in Switzerland.
thanks guys this is a really interesting thread.
can anyone recommend a credit card that is linked to a frequent flyer/air-miles program?
also..... perhaps this should go on the buying a house thread, but what's with swiss banks only handing out 80% for mortgages? Is there anyway around this? (besides cashing in your retirement fund).
will they lend you the deposit as part of a personal loan? (at higher interest rates?) (i'm not in banking so maybe this is a silly question, i spoke to my bank in Oz and they said yes, at 13% interest.  )
cheers
Nic
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30.11.2006, 12:06
|  | Forum Legend | | Join Date: Mar 2006 Location: Zurich
Posts: 3,783
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| | Re: Consumer banking in Switzerland.
Swiss have the miles & more credit card.
Before you even start thinking about buying a house here you should live here for a while. The market is not very fluid and houses can be quite difficult to sell on. See if you like it and want to stay long term before you go down that road  . But yes a 20% deposit is the norm, you can make a deal with your bank for a smaller deposit but this is not common as far as I know.
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30.11.2006, 12:24
|  | Senior Member | | Join Date: Nov 2006 Location: zurich
Posts: 489
Groaned at 2 Times in 2 Posts
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| | Re: Consumer banking in Switzerland.
Thanks Lou,
will look at those cards.
am still testing the waters with regards to what to do when i get here. Given the 3.5% interest rate, high rents and salaries, buying a small unit seemed like a good idea. Guess i'll hold off for 6 months and have a look around.
cheers
Nic
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30.11.2006, 12:44
|  | Forum Legend | | Join Date: Dec 2005 Location: Zuri Oberland
Posts: 2,724
Groaned at 109 Times in 74 Posts
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| | Re: Consumer banking in Switzerland.
Seriously, buying here is not like Oz, UK, US...
It's not a case or turn up, buy, sell, make profit, ta very much | Quote: | |  | | | Thanks Lou,
will look at those cards.
am still testing the waters with regards to what to do when i get here. Given the 3.5% interest rate, high rents and salaries, buying a small unit seemed like a good idea. Guess i'll hold off for 6 months and have a look around.
cheers
Nic | | | | | | 
30.11.2006, 13:25
|  | Senior Member | | Join Date: Nov 2006 Location: zurich
Posts: 489
Groaned at 2 Times in 2 Posts
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| | Re: Consumer banking in Switzerland.
Hey GBN,
not what i was planning on doing, i understand the capital gain is limited.
I was just interested in building a nest egg and not pouring money down the rent drain pipe where possible. Also, those interest rate are so low, makes everything seem easier then in Oz.
thanks for the pointer.
nic
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30.11.2006, 22:31
|  | Senior Member | | Join Date: Mar 2006 Location: Fribourg
Posts: 411
Groaned at 9 Times in 7 Posts
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| | Re: Consumer banking in Switzerland.
Well UBS sent my wife a very nice box of chocolates for her birthday this year, they seem to have forgotten mine though, and no we're not high net asset customers.
Nick
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