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Old 30.10.2013, 18:47
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UBS or postfinance?

Hi everyone,

in 3 weeks I will start working in Zurich for at least 4 months as an internship.
I need to open a Swiss bank account, and last friday I was in Switzerland to collect some information.

Reading on past threads, I saw many of you guys recommending postFinance.
But when I asked at UBS, they told me that for new customers, they don't charge any price for the first year, and they include all services, like

- salary
- online services and payments
- card for withdrawal at every Swiss ATM with no charge
- maestro debit card
- something else I don't remember (maybe a save account)
- no charges for opening or closing an account.

Since postFinance requires me to pay at least 5CHF/month, I was wondering if UBS could be a good choice.
Do you have any suggestion on this? Or maybe, any reason why I SHOULD NOT open an account with UBS?

Thanks everyone
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Old 30.10.2013, 19:01
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Re: UBS or postfinance?

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Hi everyone,

in 3 weeks I will start working in Zurich for at least 4 months as an internship.
I need to open a Swiss bank account, and last friday I was in Switzerland to collect some information.

Reading on past threads, I saw many of you guys recommending postFinance.
But when I asked at UBS, they told me that for new customers, they don't charge any price for the first year, and they include all services, like

- salary
- online services and payments
- card for withdrawal at every Swiss ATM with no charge
- maestro debit card
- something else I don't remember (maybe a save account)
- no charges for opening or closing an account.

Since postFinance requires me to pay at least 5CHF/month, I was wondering if UBS could be a good choice.
Do you have any suggestion on this? Or maybe, any reason why I SHOULD NOT open an account with UBS?

Thanks everyone
You don't pay CHF 5 a month with PostFinance, unless I guess if you have assets under 7500. But when I started I didn't have 7.5k in there for at least one month or 2, and wasn't charged any fee anyway so if that is your concern I think they will wait a couple of months (or more) before they decide to charge you for being poor...
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Old 30.10.2013, 19:04
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Re: UBS or postfinance?

I´m with PostFinance and love them. The account is free as long as the balance is >7500 CHF, otherwise 3/month.

An account that is entirely free is www.money-net.ch, which is the online branch of Berner Kantonalbank. Only drawback is a yearly charge of CHF 20 for a maestro card, which you´d presumably need to withdraw cash from Kantonalbank ATMs.

You can keep both accounts when you move abroad. Berner Kantonalbank does not allow opening further accounts when you do not live in Switzerland. Existing cards that expire are replaced, but you wouldn´t be able to ask for a new card when living abroad.

To get an additional free CHF-denominated credit card, check the corresponding offers by the two biggest retailers: Coop and Migros.

UBS - can´t say anything about them.

Hope this helps in your finding.
Rgds, Christian
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Old 30.10.2013, 21:43
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Re: UBS or postfinance?

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Hi everyone,

they include all services, like

- salary
Damn, I'm really missing out with my bank.
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Old 30.10.2013, 22:01
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Re: UBS or postfinance?

You will be lucky to find one UBS bank in each town, open 5 days per week.

You will be unlucky to find a village without a Post Office, open 6 days per week.

I was with UBS 15 years. Now I've been with Post Finance 9 years, I am very happy.
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Old 07.11.2013, 18:48
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Re: UBS or postfinance?

I am with UBS since more than 15 years now and still happy with them.

The minimum savings amount to be free of charges is 10'000 (or to have a morgage with them or any life insurance).

The ebanking is top-notch (can't find anything more secure in CH). Some people love swissquote.ch but honestly... logon-name and a strike-through-list - so outdated...
Doing tradings via e-banking? Also wonderful with UBS. Never had any issues.

I also have a VISA card with UBS which costs me 25 CHF per year (it definitely is a mistake at their end, as it would regularly cost more). But if you need a card, go with the one for free either from MIGROS or JELMOLI.
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Old 07.11.2013, 19:03
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Re: UBS or postfinance?

Both.

Originally had UBS, add PF a few years ago as I had to send money to someone in the US, and it was cheapest.

Plus, as I walk past the post twice a day during opening hours, it's convenient for cash (no cash machines in our village).

I just transfer 2k from my UBS account automatically every month, no problems.

Tom
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Old 07.11.2013, 22:58
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Re: UBS or postfinance?

I am with UBS for 9 years and still counting. Never with Postfinance before.

Guess one difference is the personal touch. The UBS staff that opened my account 9 years ago knows me personally till today. When I have to go to the branch to carry out some transactions, we could chit chat a little about daily lives etc. Well, this may not seem important, but consider these: I only need to send to her a personal email to change my mailing address and done swiftly.... when i have unconventional requests like getting certified copies of transactions, got it from her immediately with no questions asked.

once I used my credit card at some dubious merchant and got copied, and then "used" by the impostor, UBS immediately blocked the transaction and called me for verification, cancelled the old card and sent a new card few days later.

during my early years in Switzerland, UBS once had a staff explain to me personally the AHV and Pensionskasse for my wealth planning as an expat. No fee was charged and i did not buy anything from them either...

maybe you can also get these from post finance too, I cannot speak much about it as I have no account with them. However, my colleague is using Postfinance for two reasons: higher interest rate for 3a account and low fee for a EUR denominated credit card.
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Old 07.12.2014, 21:30
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Re: UBS or postfinance?

I work at UBS but use Postfinance. Their savings interest rates within the account are definately better.
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Old 07.12.2014, 22:00
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Re: UBS or postfinance?

I am also with PostFinance and am very happy with them; until now no problems whatsoever! The only thing I think is a bit annoying is that they don't provide a maestro card so when I go abroad I always need to use the Visa Credit if I want to pay by bank card in a store. Cash machines abroad do take them so you can take cash if you need it. All in all, very happy
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Old 07.12.2014, 22:48
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Re: UBS or postfinance?

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Or maybe, any reason why I SHOULD NOT open an account with UBS?

Thanks everyone


UBS are dishonest bank, that is cheating their own clients for personal benefit:


http://www.thelocal.ch/20141112/ubs-...for-fx-rigging


http://www.reuters.com/article/2014/...0IW0E520141112


http://www.reuters.com/article/2012/...8BI00020121219
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Old 07.12.2014, 23:01
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Re: UBS or postfinance?

Other earthly reasons aside, why they really had me with Postfinance is their revolutionary modern layout of Internet banking that I fell in love with
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Old 07.12.2014, 23:13
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Re: UBS or postfinance?

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Other earthly reasons aside, why they really had me with Postfinance is their revolutionary modern layout of Internet banking that I fell in love with
I hate it, UBS's is much better.

Tom
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Old 07.12.2014, 23:21
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Re: UBS or postfinance?

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I hate it, UBS's is much better.

Tom
You obviously didn't notice my sarcasm with laughter

On a serious note though, I enjoy Internet banking with Credit Suisse much better.
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Old 07.12.2014, 23:48
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Re: UBS or postfinance?

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I hate it, UBS's is much better.

Tom



What is so good with UBS, if I may? The amount of fees and punishments they paid in the last 6-7 years, for dishonest/criminal conduct is several billions CHF. Not to mention >3 billion loss from rogue trader (!). I would love to hear what do you find good about UBS?
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Old 08.12.2014, 13:06
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Re: UBS or postfinance?

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I would love to hear what do you find good about UBS?
a) Their e-banking

b) Our personal dealings with them over the past decades.

Tom
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Old 08.12.2014, 13:16
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Re: UBS or postfinance?

I tried UBS, Credit-Suisse and Postfinance. For a good service/price ratio go for Postfinance. The others you just pay for the brand and the bonuses of their managers.
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Old 08.12.2014, 13:33
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Re: UBS or postfinance?

A bit off-topic, but...

I got a "package" with UBS opened free of charge for the first year.
There is a branch right within the campus of the company I work for, so it was convenient.

If (or when) I decide to close the account after that year and transfer all business to e.g. Post Finance, I would assume I have to pay some (closing, transfer etc.) fees to UBS?
Anyone knows what they are (if any)?
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Old 08.12.2014, 14:41
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Re: UBS or postfinance?

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I tried UBS, Credit-Suisse and Postfinance. For a good service/price ratio go for Postfinance. The others you just pay for the brand and the bonuses of their managers.
I don't pay anything at UBS, never have.

Tom
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Old 08.12.2014, 15:13
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Re: UBS or postfinance?

Opened a UBS account when I first moved to Switzerland. The "free for first year" offer applied. Nine months later my wife moved here too and we were unable to change my account to a joint account. However we could open a new joint account, transfer everything from my account, close it, and... get a years free banking on the new account.

Worked for me!
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