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Old 19.04.2011, 14:12
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UBS credit cards - fee's increase as of June 2011

I have a Standard UBS credit card, and received my monthly statement today. On the very bottom, they are kind to inform that starting June 2011, the credit card fees will increase. This was not yet announced online, or I couldn't find it.

Withdrawal from ATMs in Switzerland, 3.5% but no less than 5 CHF
Withdrawal from ATMs outside Switzerland, 3.5% but no less than 10 CHF
Surcharge on foreign currency transactions – 1.75%

Until now, that was 3% / 5CHF for withdrawals in both Switzerland and abroad; foreign transaction surcharge was 1%.

For me, this hike in prices is totally unacceptable, as my cc usage is strictly for foreign transactions (no wonder, as cc’s are rarely accepted here, and if, at additional cost). I’m looking at around 200CHF/year extra in fees only.

I need to start looking for a new bank or at least a new cc. Could anyone recommend a bank which doesn’t change these outrageous fees and at the same time offers good currency exchange rates? I did some comparisons with Postfinance and the exchangeir rates are much worse then those of UBS.
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Old 19.04.2011, 14:27
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Re: UBS credit cards - fee's increase as of June 2011

Hi,

why on earth would you use a credit card for cash advances ? It is about the most expensive way of requesting cash. Why not just use your normal UBS Maestro card ?

http://www.ubs.com/1/e/ubs_ch/privat...il/prices.html

I would never use any credit card for cash advances unless it was absolute emergency and if you think Switzerland is expensive I once made the mistake of getting a cash advance on a uk credit card. The interest they charge on such a transaction is close to being classed as theft.

UBS Maestro CardOwner Card
CHF 40 per year 1, 3
Authorized representative card
CHF 40 per year 2, 3
Replacement card
CHF 20 per card
Blocking
CHF 40 per card

Cash deposits at UBS Bancomat PlusCHF
free of charge
EUR to a CHF account
free of charge (banknote rate)
EUR to a EUR account
1% of amount

Cashless paymentsIn Switzerland
free of charge
Outside Switzerland
1% of amount, at least CHF 1.50

Cash withdrawals at UBS BancomatsCHF
free of charge
EUR from a CHF account
free of charge (banknote rate)
EUR from a EUR account
1% of amount

Cash withdrawals from bancomats and counters of other banks in SwitzerlandCHF
CHF 2 per withdrawal or free of charge 1, 4
EUR
1% of amount, at least EUR 3.50

Cash withdrawals from ATMs and counters in other countriesIn the relevant currency
CHF 5.00 per withdrawal

Have fun
Martin
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  #3  
Old 19.04.2011, 14:27
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Re: UBS credit cards - fee's increase as of June 2011

The Coop supermarket offer a Visa and a Mastercard. With no annual fees!

http://en.comparis.ch/kreditkarten/default.aspx

http://www.coop.ch/pb/site/common/no...Lde/index.html

Weltweit unkompliziert bezahlen.
Mit der SUPERCARDplus können Sie natürlich nicht nur Ihre Einkäufe bei Coop bezahlen.
Sie wird in 210 Ländern an Millionen Standorten gerne als Zahlungsmittel akzeptiert.

Ohne Jahresgebühr.
Die SUPERCARDplus Kreditkarten sind gratis – auch in den Folgejahren. So sparen Sie sich Jahr für Jahr die Grundgebühr.

Einfacher als Bargeld.
Ohne Bargeld im Coop und überall auf der Welt einkaufen, wo Sie das Logo Ihrer Kreditkarte sehen. So können Sie nur das nötigste Bargeld im Portemonnaie tragen – und sich den Weg zum Geldautomaten in der Regel schenken.

Weltweit Superpunkte sammeln.
Bezahlen Sie Ihre Einkäufe bei Coop und diversen Supercard-Partnerfirmen mit Ihrer SUPERCARDplus und sammeln Sie für jeden Franken i.d.R. 1 Superpunkt.* Für Einkäufe mit der SUPERCARDplus in anderen Geschäften, z.B. in Boutiquen, beim Coiffeur, bei der SBB oder im Parkhaus usw. schreiben wir Ihnen pro 3 Franken Umsatz** 1 Superpunkt gut. So kommen Sie noch schneller zu Ihrer Supercard Wunschprämie.

Bei Coop City können Sie Ihre Einkäufe in allen Non-Food-Abteilungen ganz oder teilweise mit Ihren gesammelten Superpunkten bezahlen.
Neu können Sie im Coop Supermarkt und bei Coop Bau+Hobby immer wieder neu ausgewählte Sortimente mit Ihren Superpunkten bezahlen.

* Details unter www.supercard.ch
** Ausgenommen Gebühren, Zinsen, Bargeldbezüge, Rückbelastungen und Ausstände.

Klar und übersichtlich.
Sie erhalten jeden Monat eine detaillierte Abrechnung für die SUPERCARDplus. So behalten Sie immer die Übersicht über Ihre Ausgaben.

Mit Chip & PIN.
Beim Bezahlen an Geräten der neusten Generation werden Sie aufgefordert, Ihre PIN einzugeben, anstatt Belege zu unterschreiben. Die SUPERCARDplus ist eine Chip & PIN Karte.

Erfüllen Sie sich Ihre Wünsche.
Dank der flexiblen Teilzahlungsoption können Sie sich innerhalb Ihrer Kartenlimite völlig frei bewegen. Sie entscheiden selbst, ob Sie Ihre monatliche Kreditkartenrechnung ganz oder nur teilweise begleichen. Fällig sind jeweils mind. 5% des Rechnungsbetrags (bzw. mindestens CHF 50.–). Auf den ausstehenden Betrag wird ein effektiver Jahreszins von 9.9% erhoben. Weitere Informationen zur Teilzahlungsoption finden Sie hier.
Die Kreditvergabe ist verboten, falls sie zur Überschuldung führt (Art. 3 KWG).

Mehr Freiheit für mich und dich.
Mit der neuen SUPERCARDplus Kreditkarte haben Sie noch mehr Entscheidungsfreiheit. Sie können wählen zwischen der SUPERCARDplus MasterCard und der SUPERCARDplus Visa. Oder aber Sie beantragen beide Kreditkarten. Für eine weitere Person in Ihrem Haushalt können Sie gleichzeitig eine Zusatzkarte ohne Jahresgebühr beantragen, welche die gleichen Leistungen bietet wie die Hauptkarte und mit der Sie noch mehr Superpunkte sammeln können.

Auf jeden Fall.
Da Sie keine Jahresgebühr bezahlen, lohnt sich auch dann eine SUPERCARDplus, wenn Sie schon eine andere Kreditkarte besitzen – dies kann sich immer als nützlich erweisen. Sparen Sie Platz im Portemonnaie: Wenn Sie bereits eine Supercard Kundenkarte mit sich tragen, können Sie diese mit der SUPERCARDplus ersetzen. Die SUPERCARDplus ist Kundenkarte und Kreditkarte in einem.

Eine sichere Sache.
Bargeld ist nicht ersetzbar, wenn es abhanden kommt. Die Karte ist viel sicherer: Ihr Anruf genügt und Ihre SUPERCARDplus wird sofort gesperrt. In der Regel haben Sie innert 24h Stunden eine neue Karte! Selbst im Fall von Missbrauch geht bei Einhaltung der Sorgfalts- und Mitwirkungspflicht nichts auf Ihre Kosten.

Keine gläsernen Kunden



.
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Old 19.04.2011, 14:32
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Re: UBS credit cards - fee's increase as of June 2011

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Hi,
why on earth would you use a credit card for cash advances ?
I'm not (unless I'm in Thailand or similar faraway places - good luck with your Maestro there)

Anyhow, it's the foreign transaction surcharge which hits card.
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Old 19.04.2011, 14:32
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Re: UBS credit cards - fee's increase as of June 2011

If this is the case, then I will also stop using UBS cc for any foreign transaction. The exchange rate along on UBS cc is bad enough (same as their cash rate), and not with 1.75% fee!? no way

As a side note, see the foreign transaction fee/FX table below... SBB and Jelmoli credit cards are the way to go anyway (I'm just waiting on my SBB free credit card to arrive )
Attached Files
File Type: pdf credit card foreign cost comparison.pdf (75.7 KB, 2597 views)
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Old 19.04.2011, 14:40
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Re: UBS credit cards - fee's increase as of June 2011

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The Coop supermarket offer a Visa and a Mastercard. No annual fees!
Coop has (or had) the worst exchange rates among all credit card providers evaluated in this test:
http://mct.sbb.ch/mct/en/vergleich-saldo.pdf

Does coop provide a currency-exchange calculator, similar to the one from UBS?
http://www.ubs.com/1/e/index/bcqv/calculator.html
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Old 19.04.2011, 14:43
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Re: UBS credit cards - fee's increase as of June 2011

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If this is the case, then I will also stop using UBS cc for any foreign transaction. The exchange rate along on UBS cc is bad enough (same as their cash rate), and not with 1.75% fee!? no way

As a side note, see the foreign transaction fee/FX table below... SBB and Jelmoli credit cards are the way to go anyway (I'm just waiting on my SBB free credit card to arrive )
I actually found UBS's exchange rates quite good (not on cash though), comparing to others.

My problem with SBB/Jelmoli is that their exchange rate tables are nowhere to be found. I hate it not having control over my expenses.
They won last year, but would it still be the case if re-tested?
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Old 19.04.2011, 14:44
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Re: UBS credit cards - fee's increase as of June 2011

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Coop has (or had) the worst exchange rates among all credit card providers evaluated in this test:
http://mct.sbb.ch/mct/en/vergleich-saldo.pdf

Does coop provide a currency-exchange calculator, similar to the one from UBS?
http://www.ubs.com/1/e/index/bcqv/calculator.html
But Coop don't charge you CHF 200 (200 !!!) for the right to charge you even more! I suppose it might come down to snobbery, even though the cards are issued by Credit Suisse AG, and processed by Swisscard AECS AG. You can do your own sums, maybe you are buying millions?
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Old 19.04.2011, 14:48
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Re: UBS credit cards - fee's increase as of June 2011

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But Coop don't charge you CHF 200 for the right to charge you even more! I suppose it might come down to snobbery, even though the VISA card is run by Credit Suisse.
UBS charges 100CHF for a standard cc. With 1% difference in surcharge fees, at 10k CHF annual usage the coop card was already more expensive. Additionally they had worse exchange fees. A very bad deal in my usage scenario.
Now with the UBS fee increase, I have to reconsider what works best.
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Old 19.04.2011, 14:54
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Re: UBS credit cards - fee's increase as of June 2011

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UBS charges 100CHF for a standard cc. With 1% difference in surcharge fees, at 10k CHF annual usage the coop card was already more expensive. Additionally they had worse exchange fees. A very bad deal in my usage scenario.
Now with the UBS fee increase, I have to reconsider what works best.
Go with SBB, it's free and saves you money on the half-fare card. Overall cheapest with foreign transactions (higher fee, but better FX) last year. I am sure if you phone the issuing bank of the SBB credit card, they can tell you how their exchange rate is calculated. On the SBB cc application form, it clearly states that exchange rate and foreign curreny surcharge "may be queried with the issuer at any time."
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Old 19.04.2011, 15:03
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Re: UBS credit cards - fee's increase as of June 2011

we have a joint account with UBS and the card was free... so i am told
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Old 19.04.2011, 15:07
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Re: UBS credit cards - fee's increase as of June 2011

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we have a joint account with UBS and the card was free... so i am told
Let me guess, you are on a package (pay and save package) and you opened this new with UBS? in that case, the card will be free for the first year.
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Old 19.04.2011, 15:08
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Re: UBS credit cards - fee's increase as of June 2011

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we have a joint account with UBS and the card was free... so i am told
They lied :-). Card price is *included* in the monthly fee. You already pay 15/25/30CHF a month in banking fees.
http://www.ubs.com/1/ShowMedia/ubs_c...sangebot_e.pdf
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Old 19.04.2011, 15:11
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Re: UBS credit cards - fee's increase as of June 2011

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Go with SBB, it's free and saves you money on the half-fare card.
Wont hurt to try, I guess. I need a new Halb-tax in June anyway :-).
Is there any online access interface available for the SBB credit card?
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Old 19.04.2011, 15:16
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Re: UBS credit cards - fee's increase as of June 2011

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Wont hurt to try, I guess. I need a new Halb-tax in June anyway :-).
Is there any online access interface available for the SBB credit card?
sorry, can't help with that question as I am still waiting for my SBB cc to arrive in the post. Applied for one a week ago because of the cheaper foreign transactions
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Old 19.04.2011, 15:37
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Re: UBS credit cards - fee's increase as of June 2011

When UBS started its trouble about a decade ago, about half the swiss population chose another bank (Raiffeisen, Migrosbank, Coopbank,...) Have a go on bonus.ch or comparis.ch and check their credit card analysis. There are plenty of cheaper solutions.
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Old 19.04.2011, 16:33
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Re: UBS credit cards - fee's increase as of June 2011

Go for Coop or Migros mastercard, both has no annual fees.
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Old 19.04.2011, 16:39
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Re: UBS credit cards - fee's increase as of June 2011

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They lied :-). Card price is *included* in the monthly fee. You already pay 15/25/30CHF a month in banking fees.
http://www.ubs.com/1/ShowMedia/ubs_c...sangebot_e.pdf

nope, because of account balance there is no monthly fee and have had a UBS account for well over 10 years
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Old 19.04.2011, 16:42
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Re: UBS credit cards - fee's increase as of June 2011

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nope, because of account balance there is no monthly fee and have had a UBS account for well over 10 years
interesting, as this surely isn't mentioned as being available anywhere on UBS's document on couple's offering

Price per family/per couple:
• CHF 15 per month for total family assets
1 from CHF 10,000 or with a building financing or a mortgage at UBS or
• CHF 25 per month if you switch to e-documents with UBS e-banking via Internet

• Otherwise CHF 30 per month
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Old 19.04.2011, 16:46
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Re: UBS credit cards - fee's increase as of June 2011

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Is there any online access interface available for the SBB credit card?
No, none at all. And you have to pay on pink slip arrival - no DD.
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