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  #21  
Old 14.10.2018, 08:42
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Re: Postfinance done with free accounts

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They want an extra 40 CHF for the debit card
I pay 8CHF a month for ZKB inclusive silver
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  #22  
Old 14.10.2018, 10:05
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Re: Postfinance done with free accounts

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I pay 8CHF a month for ZKB inclusive silver

What!

Thought you do night withdrawals at bed time?
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  #23  
Old 14.10.2018, 10:51
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Re: Postfinance done with free accounts

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I believe they charge the 'usual' crazy 1.7% p/a fees for their funds so they'll easily make more than a measly 5CHF a month :P

What 1.7 % fee?

All funds have a management fee, most even higher!
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  #24  
Old 14.10.2018, 11:17
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Re: Postfinance done with free accounts

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Migros?
Not so good as one might believe.

https://www.moneyland.ch/en/privateAccount/list

Sure one gets a free Maestro card.

But its only free to use at a Migros ATM.
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  #25  
Old 14.10.2018, 11:35
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Re: Postfinance done with free accounts

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Migros?
Eek, really?

1) No English language services.
2) Online banking is nowhere near (not even in the same ball park) as mature or user friendly as PF.

You really think a 60chf yearly charge is worth making your life more difficult out of some misguided principle that they shouldn't charge anything despite it being standard in the Swiss banking industry? It's like shooting yourself in the foot for the sake of something that in the end is, realistically, financially immaterial.

Last edited by Richdog; 14.10.2018 at 11:50.
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  #26  
Old 14.10.2018, 14:10
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Re: Postfinance done with free accounts

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Eek, really?

1) No English language services.
2) Online banking is nowhere near (not even in the same ball park) as mature or user friendly as PF.

You really think a 60chf yearly charge is worth making your life more difficult out of some misguided principle that they shouldn't charge anything despite it being standard in the Swiss banking industry? It's like shooting yourself in the foot for the sake of something that in the end is, realistically, financially immaterial.


How about UBS? I think their package includes a credit card, which you have to pay at PF (at least 60 CHF/year I believe).
I am not an UBS customer, but I think the monthly fee is partly offset by discount you get, e.g., for Migros.
Can anyone confirm that?
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  #27  
Old 14.10.2018, 14:34
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Re: Postfinance done with free accounts

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How about UBS? I think their package includes a credit card, which you have to pay at PF (at least 60 CHF/year I believe).
I am not an UBS customer, but I think the monthly fee is partly offset by discount you get, e.g., for Migros.
Can anyone confirm that?
I had both Visa and Mastercard for no additional charge witha monthly fee of 10-20CHF depending on asset levels. Switched to PF a while ago.
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  #28  
Old 14.10.2018, 16:06
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Re: Postfinance done with free accounts

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What 1.7 % fee?

All funds have a management fee, most even higher!
“Most even higher” - you must be referring to mutual funds here in switzerland. In the US/UK, 1.7% is extortion.

(Anything over 0.07%, the usual price of an ETF, is usually extortion anyway, but some very few fund managers may be worth their salt - definitely not Postfinance or UBS!)
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  #29  
Old 15.10.2018, 10:45
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Re: Postfinance done with free accounts

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Which bank are you switching to next year? Any good ones with euro accounts?
You'll have to do your own research as the costs will depend on your needs. I suggest you check out Raiffeisen, including how the costs would be influenced by being a member of the cooperative. The latter also brings rebates on certain museums, concerts, mountaintop trains, etc. Now that their statutes no longer mandate a personaly liability of up to 4k for members whenever necessary, there's no longer a risk associated with being a member I'm aware of.
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  #30  
Old 15.10.2018, 22:14
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Re: Postfinance done with free accounts

Besides pf, I have Raiffeisen private plus: no account fee; 40 CHF per year for a mastro card.
It also has an "account card" (Kontokarte) without an annual fee. This card can only be used at Raiffeisen ATMs.
The mastro card comes with member plus benefits; the account card does not.
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  #31  
Old 15.10.2018, 22:52
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Re: Postfinance done with free accounts

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Besides pf, I have Raiffeisen private plus: no account fee; 40 CHF per year for a mastro card.
It also has an "account card" (Kontokarte) without an annual fee. This card can only be used at Raiffeisen ATMs.
The mastro card comes with member plus benefits; the account card does not.
UBS had something similar, IIRC. If you drop the maestro card and go for the account card, you can save some chfs.

i anyway have separate free credit cards (2x prepaid from revolut and TW and one post-paid from migros) so i can avoid the expensive bank credit cards.

now i look for an online bank without fees for basic transactions.
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  #32  
Old 16.10.2018, 11:39
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Re: Postfinance done with free accounts

FYI:

I contacted PF and can confirm it’s free to close an account.

I’ll probably stick with UBS for the timebeing and look for another free account...
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  #33  
Old 17.10.2018, 01:18
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Re: Postfinance done with free accounts

I do wonder if any of this has to do with the administrative costs for US clients flocking to them (including myself ). I did see a thread at one point quoting numbers that were not insignificant.

I have an American colleague who is happy with our local Kantonalbank, living in a village I've found my German is better than I thought so I may check them out. Their E-banking solution, "Universalkonto E CHF" is free. https://www.akb.ch/private/bezahlen/...alkonten#e-chf

I see from the Zürcher Kantonalbank's site their basic "Privatkonto" is 12CHF per year. https://www.zkb.ch/de/pr/pk/zahlen-s...ivatkonto.html
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  #34  
Old 17.10.2018, 10:39
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Re: Postfinance done with free accounts

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More important question is if they are also willing to adjust an interest rate on savings account which already seats at 0.0% in order to ease the pain. Even mediocre positive bugger all move would do
It's English, Jim, but not as we know it.
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  #35  
Old 17.10.2018, 10:41
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Re: Postfinance done with free accounts

Just to note PF is also still free if you have a mortgage with them.
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  #36  
Old 17.10.2018, 10:51
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Re: Postfinance done with free accounts

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It's English, Jim, but not as we know it.
Maybe I fall into to the wrong age group

https://www.postfinance.ch/en/privat...est-rates.html
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  #37  
Old 17.10.2018, 10:52
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Re: Postfinance done with free accounts

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Besides pf, I have Raiffeisen private plus: no account fee; 40 CHF per year for a mastro card.
It also has an "account card" (Kontokarte) without an annual fee. This card can only be used at Raiffeisen ATMs.
The mastro card comes with member plus benefits; the account card does not.

I second Raiffeisen, member benefits are great.
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  #38  
Old 17.10.2018, 13:16
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Re: Postfinance done with free accounts

I'll also recommend Raiffeisen. And you can have a Euro account with a Euro debit Maestro card, though they do make a small charge each time you use it.

Easiest way to close an account is to first open a new account, transfer everything out bar 1 Franc. The tell them you're closing the account.
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  #39  
Old 17.10.2018, 14:58
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Re: Postfinance done with free accounts

I still find postfinance as a good option and will stick to it, of course now to have free account one must have 25K+, which can be tricky for some and simple for others who have pillar 3 for more than 4 years.

Postfinance was and I guess in future as well will remain as good banking option. Good service, simple online interface, low charges (baring new rates) and also flexibility to get money from post office.


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Now that postfinance showed the middle finger to small time savers I'm considering to return them the favor

Which bank are you switching to next year? Any good ones with euro accounts?
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  #40  
Old 17.10.2018, 19:32
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Re: Postfinance done with free accounts

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I still find postfinance as a good option and will stick to it, of course now to have free account one must have 25K+, which can be tricky for some and simple for others who have pillar 3 for more than 4 years.
As far as I understand from the link, there are no more free accounts (unless you have 25K+ invested in stocks with them or have some other products like life insurance or mortgage).
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