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-   -   Postfinance done with free accounts (https://www.englishforum.ch/finance-banking-taxation/287231-postfinance-done-free-accounts.html)

Urs Max 08.06.2018 12:57

Postfinance to be more expensive
 
According to today's news, Postfinance is restructuring. On the one hand this will cost some 500 jobs, on the other hand the pricing structure will be changed to generate more revenue. Custumers will have to pay more.

When asked in an interview whether the increase should be expected to be around 20CHF per year, on average, CEO Köng replied with "Von der Dimension her ist es nicht ganz falsch", according to another quote on a similar question he said "Das wird sicherlich in dieser Dimension sein". So it is incorrect but not utterly so. Which probably means one should expect a somewhat higher increase.

Details are yet to be published. Stay tuned.

Here's the interview, and an article on the topic. Both by the Tagesanzeiger and in German.

Troublawesome 08.06.2018 15:49

Re: Postfinance to be more expensive
 
More reason to shut down your accounts there, very poor service and products. Much simpler and cheaper elsewhere.

vostok4 08.06.2018 17:17

Re: Postfinance to be more expensive
 
Quote:

Originally Posted by Troublawesome (Post 2954812)
More reason to shut down your accounts there, very poor service and products. Much simpler and cheaper elsewhere.

Can you suggest some? I've been happy with PostFinance, 5 years ago there always seemed to be fees for every other "big bank".

Troublawesome 09.06.2018 10:45

Re: Postfinance to be more expensive
 
Migros Bank

YuropFlyer 09.06.2018 10:49

Re: Postfinance to be more expensive
 
Migrosbank ain't great either (they cancelled English as an available language a few years ago, as an example) and they charge plenty of fees too. But compared with others, yeah, they're one of the better choices.

robBob 09.06.2018 13:58

Re: Postfinance to be more expensive
 
Quote:

Originally Posted by vostok4 (Post 2954864)
Can you suggest some? I've been happy with PostFinance, 5 years ago there always seemed to be fees for every other "big bank".

Can try here, but have to live in canton ZH or AG:

https://sparkasse-dielsdorf.ch/de/Pr...bersicht-Konti

Chuff 11.06.2018 11:01

Re: Postfinance to be more expensive
 
Hmm, the latest news has me a little worried. Seems that their inability to loan or mortgage is causing them to struggle to be profitable http://www.20min.ch/finance/news/sto...ance--18854524

Anyone know up to how much account balances are guaranteed for if they go under? Is it still 30k per person? https://www.englishforum.ch/finance-...-accounts.html

I guess I need to start looking at alternative (and more expensive) banks that have an English option that are too big to really go under, like CS or UBS. :(

EDIT - Or maybe I am worrying too much. I will do some research and see if I can avoid changing unless necessary...

Meadow 11.06.2018 17:33

Re: Postfinance to be more expensive
 
Quote:

Originally Posted by Troublawesome (Post 2954812)
More reason to shut down your accounts there, very poor service and products. Much simpler and cheaper elsewhere.

I hate such generalizations. I had an account at UBS, and then I used Moneyland to compare, which banking package would be the cheapest for me. And for my small needs there was nothing as cheap as PostFinance. I have closed my UBS account, too. I have had exposure to both online banking platforms and I don't think that the one of PF is any worse.

Currently I have a CHF and EUR account at PF and I pay nothing. If I need cash, there are PF ATMs everywhere. Cumulus Credit Card at Cembra. So I have no idea what you're talking about.

In the long run, if they really rack up prices, then let's keep fingers crossed for Revolut to get the european banking license and Swiss IBANs. ;)

Andreag 11.06.2018 19:33

Re: Postfinance to be more expensive
 
Same. Good customer service and never failed me for my simple account management.

Urs Max 05.09.2018 16:52

Re: Postfinance to be more expensive
 
The federal government has given green light for Postfinance to turn into a fullfledged bank and provide credit themselves. So maybe those price increases are no longer to be expected.

Yet, before the turn of the millenium Swisscom and Post were part of the same company, with the telecom part subsidising the postal services. When this was no longer accepted the two got split. Now they're doing essentially the same again, building an additional arm that subsidises the postal services.

This just makes no sense.

IceCold 07.09.2018 22:32

Re: Postfinance to be more expensive
 
I checked moneyland few years ago and PostFinance was the cheapest. Now they are realy expensive. I don't know what has happend... They are taking 144chf for account managing which is a lot. Is this the new change? I'll change my bank.

Enohzee 07.09.2018 22:40

Re: Postfinance to be more expensive
 
Quote:

Originally Posted by IceCold (Post 2989630)
I checked moneyland few years ago and PostFinance was the cheapest. Now they are realy expensive. I don't know what has happend... They are taking 144chf for account managing which is a lot. Is this the new change? I'll change my bank.

Really? accounts still seem to be 5chf a month and free if you have >7500chf ?

IceCold 07.09.2018 22:46

Re: Postfinance to be more expensive
 
More like 25k!

Quote:

For customers with total assets at the bank up to CHF 25,000, the account management costs CHF 144.00 per year. With total assets at the bank above CHF 25,000, the account management is free of charge
I don't keep this amount of cash on my account since I invest it stocks.

Riana22 07.09.2018 23:11

Re: Postfinance to be more expensive
 
Quote:

Originally Posted by IceCold (Post 2989632)
More like 25k!


I don't keep this amount of cash on my account since I invest it stocks.


What you write here is for "Private Account Plus". There's also the other option above mentioned.


https://www.postfinance.ch/en/privat...count-chf.html

Urs Max 09.09.2018 12:55

Re: Postfinance to be more expensive
 
Quote:

Originally Posted by IceCold (Post 2989632)
More like 25k!

I don't keep this amount of cash on my account since I invest it stocks.

You should read your quotes, cash is just a portion of your assets.

ivank 13.10.2018 11:33

Postfinance done with free accounts
 
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?

blackbird 13.10.2018 11:45

Re: Postfinance done with free accounts
 
i am with bank cler online banking, the fee is only 2 sfr a month.

robBob 13.10.2018 11:59

Re: Postfinance done with free accounts
 
I'm with

https://sparkasse-dielsdorf.ch/de/

higgsboson 13.10.2018 12:10

Re: Postfinance done with free accounts
 
Quote:

Originally Posted by ivank (Post 3002048)
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?

It's quite disappointing, but at least their joint account is still better than the competitors with that price, and e-banking is slightly easier to use.

Enohzee 13.10.2018 18:07

Re: Postfinance done with free accounts
 
Anyone know if it's possible to cancel an account for free due to the new charges?

I recently opened an account with PF in order to change from UBS (as they charge a monthly fee) - turned out to be a disaster!


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