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Old 28.09.2012, 13:20
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UBS Bank charges me to deposit money?

Hi,

is it only me, or have they gone crazy?

I have some small sum of EUR, that I dont need at the moment, and I wanted to deposit it to my account. Now, UBS bank wants to charge me a "fee" for depositing EUR to my own EUR account@UBS bank. They are claiming that there is a fee for depositing, but they are not able to explain to me why exactly they are charging this.

On my comments that banks nowhere else charge customer fee for depositing cash to own account, but rather give incentive (since they will be using that money anyway) they didnt try to find a solution.

It is not a large sum of money, but out of principle I won't give them 1-2% of the deposit to my own account.

Can anyone suggest other bank (or perhaps Postfinance) where I can open EUR account, and deposit money/withdraw money without paying fees?

Cheers
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  #2  
Old 28.09.2012, 14:18
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Re: UBS Bank charges me to deposit money?

Open a Post Finance Euro account, you can pay in using the plastic card, at any post office.

I left UBS years ago, I got the feeling they didn't want me any more, I never regretted it: they are thieves.
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Old 28.09.2012, 14:26
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Re: UBS Bank charges me to deposit money?

They don't like dealing in cash, plain and simple, and they charge for such service in order to dissuade use of it, esp. for small amounts.
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Old 29.09.2012, 17:01
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Re: UBS Bank charges me to deposit money?

from what I could tell - UBS (and most of the other banks) charge a EURO handling fee of about 1% because they are not making any money on you exchanging them from EURO to CHF.
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Old 03.10.2012, 23:33
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Re: UBS Bank charges me to deposit money?

welcome to Switzerland...
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Old 10.10.2012, 22:45
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Re: UBS Bank charges me to deposit money?

Most banks in Switzerland (around the world) will charge you a fee for depositing or withdrawing foreign currency !

Its usually between 1-1.5%
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Old 10.10.2012, 23:25
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Re: UBS Bank charges me to deposit money?

UBS make this very clear in their charges leaflet. Yes they charge you 1% to credit euros into a corresponding EUR account.

Vote with your feet?

See page 21 of http://www.ubs.com/ch/en/swissbank/p...2_190612_E.pdf
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Old 30.10.2012, 16:49
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Re: UBS Bank charges me to deposit money?

I had a similar experience with UBS, only no one mentioned this when I was opening my EUR account. They also said there is a fee for taking EUR out of my account. So needless to say, I am now closing my accounts with UBS, and opening PostFinance - multiple currency accounts, better interest rates, and on top of it all it is FREE!
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Old 30.10.2012, 17:08
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Re: UBS Bank charges me to deposit money?

No wonder, they just cut another 10,000 Jobs
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Old 30.10.2012, 19:42
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Re: UBS Bank charges me to deposit money?

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I had a similar experience with UBS, only no one mentioned this when I was opening my EUR account. They also said there is a fee for taking EUR out of my account. So needless to say, I am now closing my accounts with UBS, and opening PostFinance - multiple currency accounts, better interest rates, and on top of it all it is FREE!
no one "mentioned" this?

as in, somebody read out and explained to you all the remaining 5 pages of small print??
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Old 30.10.2012, 20:17
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Re: UBS Bank charges me to deposit money?

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I had a similar experience with UBS, only no one mentioned this when I was opening my EUR account. They also said there is a fee for taking EUR out of my account. So needless to say, I am now closing my accounts with UBS, and opening PostFinance - multiple currency accounts, better interest rates, and on top of it all it is FREE!
that's strange, because, in front of me, i have a piece of paper which is signed by you stating that you read and understood all the terms and conditions and these charges were clearly stated therein. are you a LIAR?
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Old 30.10.2012, 21:29
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Re: UBS Bank charges me to deposit money?

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I had a similar experience with UBS, only no one mentioned this when I was opening my EUR account. They also said there is a fee for taking EUR out of my account. So needless to say, I am now closing my accounts with UBS, and opening PostFinance - multiple currency accounts, better interest rates, and on top of it all it is FREE!
All banks will charge for taking out currency, it's called disageo. The banks need to "buy" currency and they charge you for it either directly if the amount is sigfnificant or you pay via trhe difference in the exchange rate
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Old 30.10.2012, 23:52
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Re: UBS Bank charges me to deposit money?

Quote:
All banks will charge for taking out currency, it's called disageo. The banks need to "buy" currency and they charge you for it either directly if the amount is sigfnificant or you pay via trhe difference in the exchange rate
Perhaps, but I was trying to deposit money, not to take it.

I find it really weird that bank would charge me for depositing EUR cash to my EUR account.
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Old 31.10.2012, 09:36
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Re: UBS Bank charges me to deposit money?

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Hi,

is it only me, or have they gone crazy?

I have some small sum of EUR, that I dont need at the moment"
You live in Basle.
Spend the Euros in the Supermarkets and shops in Germany and France rather than change them into Swiss Francs.

That 1% cost is probably less than the fall in value the Euro will have against the Swiss Franc in the coming months.
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Old 31.10.2012, 09:43
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Re: UBS Bank charges me to deposit money?

ZKB don`t charge customers for services such as that.

I exchange, deposit, withdraw Euros there and they always ask if I`m a customer - otherwise there is a charge.
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Old 01.11.2012, 12:26
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Re: UBS Bank charges me to deposit money?

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You live in Basle.
Spend the Euros in the Supermarkets and shops in Germany and France rather than change them into Swiss Francs.

That 1% cost is probably less than the fall in value the Euro will have against the Swiss Franc in the coming months.
I am doing that,exactly. But it is hard to remember to bring cash everytime.

Ideally, I would have deposited to UBS, then transfer it from there to my EU-based account (cost: 0.3 CHF), and then pay using maestro card (0% commission fee). But now I have to pay with cash until I deplete this...
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Old 02.11.2012, 13:18
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Re: UBS Bank charges me to deposit money?

Since we have recently moved to Basel from Baden,I was just checking out which bank to use there.

The discussion has given me a good idea guys. Thanks!
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Old 02.11.2012, 13:35
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Re: UBS Bank charges me to deposit money?

The consensus seems to be Kantonalbank or Postfinance.
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Old 02.11.2012, 14:33
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Re: UBS Bank charges me to deposit money?

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The consensus seems to be Kantonalbank or Postfinance.
The problem is that some cantonal banks (well, at least BCV in Vaud) will not open an account for an American. Not sure if this applies to OP, but for anyone else thinking about where to open an account and using this thread to help decide, that's an important point.
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Old 02.11.2012, 21:59
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Re: UBS Bank charges me to deposit money?

just use Postfinance, they don't charge me for deposite and withdraw EURO
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