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Old 26.11.2018, 10:42
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Re: Postfinance done with free accounts

Dumb question: Is this a "per account" fee or a "per client" fee?


I'm assuming per account meaning I'll close my savings account and all others (e.g I have a separate one for business expenses) to just leave a single "main" one for salary etc and move everything else to Revolut or Transferwise Borderless
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  #82  
Old 26.11.2018, 11:19
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Re: Postfinance done with free accounts

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Dumb question: Is this a "per account" fee or a "per client" fee?

I'm assuming per account meaning I'll close my savings account and all others (e.g I have a separate one for business expenses) to just leave a single "main" one for salary etc and move everything else to Revolut or Transferwise Borderless
The assets are assessed per client but the fees are charged per account, at least that's my understanding with interacting with PF customer service.

So if you have more than CHF 25'000 in investment assets (see here) then all your accounts are for free. If not, it's CHF 5 per account.

Note: If an account has multiple account holders (shared account), it is considered as a different customer relationship. Thus, you would need to have the CHF 25k in investments (or other exemptions) under this customer relationship to avoid the charges.

Example:
- Customer A has CHF 50k in investment funds.
- Customer B has also CHF 50k in investment funds.

Both A and B are exempted of the fees.

If A and B open a shared account to pay for the day to day things, and they don't have any other assets in common, they'll be charged the CHF 5 per month, regardless that they individually qualify for the fees exemption.

I hope this helps, I suffered it myself...
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  #83  
Old 04.12.2018, 00:42
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Re: Postfinance done with free accounts

I was caught out by this. I transferred pretty much all funds out of PF so didn't meet the 25k threshold.

Also, I forgot that I had the Plus account instead of standard, so it cost me 25CHF per month instead of 5CHF.
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