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Old 15.08.2011, 15:17
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Post finance lowered interest rate 1st January 2011: impacts on clients?

Hi,
I just noticed:
http://www.postfinance.ch/en/about/m...ess101203.html
PostFinance is lowering the interest rate on e-Deposito accounts in Swiss francs by 0.25% as of 1 January 2011. As of this date it will pay 1% on electronically managed Deposito accounts for private customers and 0.75% for business customer accounts.


Is that valid for customers which has an account prior 2011?

I mean can they lower the "interest rate" without asking?
Is like a change of terms in the contract...


Just asking, I haven't noticed if the rates have been changed for "old accounts".

Thanks
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Old 15.08.2011, 15:36
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Re: Post finance lowered interest rate 1st January 2011: impacts on clients?

I'm not sure why you're surprised about this? The Deposito accounts are not fixed-interest accounts, nor do they claim to be. These are instant-access accounts where the interest rate fluctuates according to prevailing market conditions. Every flexible savings account I've ever come across is the same, except for some offering promotional interest rates for the first year to lure you in.

In this case, PostFinance gave advanced notice of their intention to change the interest rate, so you had time to make alternative investment decisions before being affected.

If you want the security of a fixed interest rate, you should look at alternative products like medium term notes or money market investments.
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Old 15.08.2011, 15:59
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Re: Post finance lowered interest rate 1st January 2011: impacts on clients?

Yes that's correct...

No i'm not so surprised, it's just I just found out so I was a bit confused- that's all.

In my old bank they informed me. But maybe they did by "pdf" instead of mail...


I was also wondering if it was only for new accounts I would "keep the old one"...

Ok so you answered me: the rate is also valid for older accounts.



Thanks!
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Old 15.08.2011, 16:14
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Re: Post finance lowered interest rate 1st January 2011: impacts on clients?

I understand Mr Corsebou's disappointment and frustration, if he moved his savings from a French "Livret A" 2 years ago, when the interest rates were on par with those of Postfinance, but now show a wide gap, due to the increase of the former and the decrease of the latter.
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Old 15.08.2011, 16:20
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Re: Post finance lowered interest rate 1st January 2011: impacts on clients?

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I understand Mr Corsebou's disappointment and frustration, if he moved his savings from a French "Livret A" 2 years ago, when the interest rates were on par with those of Postfinance, but now show a wide gap, due to the increase of the former and the decrease of the latter.
But then with the currency market, the euro is low compare to CHF...

So if one had 1000 Euros saving at 2% 1 year ago

and now has 1000chf saving at 1%, with the currency rate 1% might represent more money (converting in euros)


No i'm affraid I never had much savings in Euros or CHF so in any case 1% or 2% never represented big amounts.

It's just I was surprised to find out about it now... But as we said, they probably warned the customers and I missed the PDF...

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Old 07.02.2012, 14:41
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Re: Post finance lowered interest rate 1st January 2011: impacts on clients?

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It's just I was surprised to find out about it now... But as we said, they probably warned the customers and I missed the PDF...
I wouldn't want you to be caught out twice... So here's a special message just for CorsebouTheReturn: they're lowering interest rates again.

PostFinance lowers interest rates
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Old 07.02.2012, 16:41
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Re: Post finance lowered interest rate 1st January 2011: impacts on clients?

crap!
I haven't heard about that yet-
Maybe they sent the "new conditions" in pdf, haven't read it yet...



Thanks for the sharing that news !
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