Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 08.06.2018, 12:57
Forum Legend
 
Join Date: Oct 2014
Location: Ostschweiz
Posts: 7,760
Groaned at 263 Times in 226 Posts
Thanked 9,304 Times in 4,898 Posts
Urs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond repute
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.
Reply With Quote
The following 8 users would like to thank Urs Max for this useful post:
  #2  
Old 08.06.2018, 15:49
Troublawesome's Avatar
Forum Veteran
 
Join Date: Mar 2014
Location: Zug
Posts: 1,084
Groaned at 216 Times in 129 Posts
Thanked 1,029 Times in 463 Posts
Troublawesome is considered knowledgeableTroublawesome is considered knowledgeableTroublawesome is considered knowledgeable
Re: Postfinance to be more expensive

More reason to shut down your accounts there, very poor service and products. Much simpler and cheaper elsewhere.
Reply With Quote
This user would like to thank Troublawesome for this useful post:
The following 3 users groan at Troublawesome for this post:
  #3  
Old 08.06.2018, 17:17
vostok4's Avatar
Member
 
Join Date: May 2013
Location: Dietikon
Posts: 216
Groaned at 3 Times in 2 Posts
Thanked 146 Times in 87 Posts
vostok4 has an excellent reputationvostok4 has an excellent reputationvostok4 has an excellent reputationvostok4 has an excellent reputation
Re: Postfinance to be more expensive

Quote:
View Post
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".
Reply With Quote
The following 3 users would like to thank vostok4 for this useful post:
  #4  
Old 09.06.2018, 10:45
Troublawesome's Avatar
Forum Veteran
 
Join Date: Mar 2014
Location: Zug
Posts: 1,084
Groaned at 216 Times in 129 Posts
Thanked 1,029 Times in 463 Posts
Troublawesome is considered knowledgeableTroublawesome is considered knowledgeableTroublawesome is considered knowledgeable
Re: Postfinance to be more expensive

Migros Bank
Reply With Quote
This user would like to thank Troublawesome for this useful post:
  #5  
Old 09.06.2018, 10:49
Forum Veteran
 
Join Date: Jan 2017
Location: Zürich
Posts: 802
Groaned at 73 Times in 55 Posts
Thanked 984 Times in 493 Posts
YuropFlyer has a reputation beyond reputeYuropFlyer has a reputation beyond reputeYuropFlyer has a reputation beyond reputeYuropFlyer has a reputation beyond repute
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.
Reply With Quote
  #6  
Old 09.06.2018, 13:58
robBob's Avatar
Forum Veteran
 
Join Date: Mar 2012
Location: Zurich
Posts: 2,080
Groaned at 41 Times in 28 Posts
Thanked 1,642 Times in 950 Posts
robBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond repute
Re: Postfinance to be more expensive

Quote:
View Post
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
Reply With Quote
This user would like to thank robBob for this useful post:
  #7  
Old 11.06.2018, 11:01
Forum Legend
 
Join Date: Mar 2009
Location: Zurich
Posts: 11,858
Groaned at 687 Times in 504 Posts
Thanked 15,842 Times in 6,222 Posts
Chuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond repute
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...

Last edited by Chuff; 11.06.2018 at 11:24.
Reply With Quote
  #8  
Old 11.06.2018, 17:33
Meadow's Avatar
Senior Member
 
Join Date: Jul 2016
Location: Zurich
Posts: 272
Groaned at 6 Times in 5 Posts
Thanked 95 Times in 63 Posts
Meadow has no particular reputation at present
Re: Postfinance to be more expensive

Quote:
View Post
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.
Reply With Quote
The following 2 users would like to thank Meadow for this useful post:
  #9  
Old 11.06.2018, 19:33
Junior Member
 
Join Date: Aug 2010
Location: Zug
Posts: 87
Groaned at 0 Times in 0 Posts
Thanked 42 Times in 22 Posts
Andreag has no particular reputation at present
Re: Postfinance to be more expensive

Same. Good customer service and never failed me for my simple account management.
Reply With Quote
This user would like to thank Andreag for this useful post:
  #10  
Old 05.09.2018, 16:52
Forum Legend
 
Join Date: Oct 2014
Location: Ostschweiz
Posts: 7,760
Groaned at 263 Times in 226 Posts
Thanked 9,304 Times in 4,898 Posts
Urs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond repute
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.
Reply With Quote
  #11  
Old 07.09.2018, 22:32
Junior Member
 
Join Date: Feb 2015
Location: Basel (BS)
Posts: 32
Groaned at 6 Times in 2 Posts
Thanked 8 Times in 6 Posts
IceCold has slipped a little
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.
Reply With Quote
  #12  
Old 13.10.2018, 11:33
Forum Veteran
 
Join Date: Feb 2012
Location: CH
Posts: 2,304
Groaned at 87 Times in 73 Posts
Thanked 2,002 Times in 1,123 Posts
ivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond reputeivank has a reputation beyond repute
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?
Reply With Quote
This user would like to thank ivank for this useful post:
  #13  
Old 13.10.2018, 11:45
Forum Veteran
 
Join Date: Jul 2009
Location: Horn/TG
Posts: 1,522
Groaned at 41 Times in 28 Posts
Thanked 663 Times in 486 Posts
blackbird has no particular reputation at present
Re: Postfinance done with free accounts

i am with bank cler online banking, the fee is only 2 sfr a month.
Reply With Quote
  #14  
Old 13.10.2018, 11:59
robBob's Avatar
Forum Veteran
 
Join Date: Mar 2012
Location: Zurich
Posts: 2,080
Groaned at 41 Times in 28 Posts
Thanked 1,642 Times in 950 Posts
robBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond reputerobBob has a reputation beyond repute
Re: Postfinance done with free accounts

I'm with

https://sparkasse-dielsdorf.ch/de/
Reply With Quote
  #15  
Old 21.11.2018, 22:35
JoeUK's Avatar
Forum Veteran
 
Join Date: Aug 2009
Location: Au
Posts: 690
Groaned at 30 Times in 26 Posts
Thanked 817 Times in 441 Posts
JoeUK has an excellent reputationJoeUK has an excellent reputationJoeUK has an excellent reputationJoeUK has an excellent reputation
Re: Postfinance done with free accounts

Quote:
View Post
i am with bank cler online banking, the fee is only 2 sfr a month.
That's a different offering to this one? https://www.cler.ch/de/landing-pages/zak/#
Reply With Quote
  #16  
Old 13.10.2018, 12:10
Senior Member
 
Join Date: Sep 2016
Location: Greater Zurich
Posts: 419
Groaned at 10 Times in 7 Posts
Thanked 98 Times in 68 Posts
higgsboson has made some interesting contributions
Re: Postfinance done with free accounts

Quote:
View Post
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.
Reply With Quote
  #17  
Old 13.10.2018, 18:07
Forum Veteran
 
Join Date: Mar 2014
Location: Neuchatel
Posts: 656
Groaned at 1 Time in 1 Post
Thanked 256 Times in 175 Posts
Enohzee is considered knowledgeableEnohzee is considered knowledgeableEnohzee is considered knowledgeable
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!
Reply With Quote
  #18  
Old 13.10.2018, 18:14
Senior Member
 
Join Date: Sep 2016
Location: Greater Zurich
Posts: 419
Groaned at 10 Times in 7 Posts
Thanked 98 Times in 68 Posts
higgsboson has made some interesting contributions
Re: Postfinance done with free accounts

Quote:
View Post
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!
What should they charge you for in the first place? I once changed from UBS to PF and don't remember paying any cancellation charges or things like that.

Last edited by higgsboson; 13.10.2018 at 19:55.
Reply With Quote
The following 2 users would like to thank higgsboson for this useful post:
  #19  
Old 13.10.2018, 18:29
Forum Veteran
 
Join Date: Mar 2014
Location: Neuchatel
Posts: 656
Groaned at 1 Time in 1 Post
Thanked 256 Times in 175 Posts
Enohzee is considered knowledgeableEnohzee is considered knowledgeableEnohzee is considered knowledgeable
Re: Postfinance done with free accounts

Quote:
View Post
What should they charge you for in the first place? I once changed from UBS to PF and don't remember paying any cancellation charges or things like that?
OK cool... in that case, I'll cancel my new PF account and stay with UBS

Thanks!
Reply With Quote
This user would like to thank Enohzee for this useful post:
  #20  
Old 13.10.2018, 18:27
Newbie 1st class
 
Join Date: Feb 2015
Location: Zurich
Posts: 25
Groaned at 0 Times in 0 Posts
Thanked 20 Times in 12 Posts
Istcantabria has made some interesting contributions
Re: Postfinance done with free accounts

Quote:
View Post
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.
It seems that if you have more than 25.000 CHF invested in funds (including retirement funds if 3rd pillar) it will continue being free...
Reply With Quote
This user would like to thank Istcantabria for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
No-Go with PostFinance Ocean8 Finance/banking/taxation 93 05.06.2016 17:28
Postfinance closing American Accounts? Wisescarab Finance/banking/taxation 153 26.12.2013 22:07
Email accounts with privacy Jonesy TV/internet/telephone 39 31.08.2013 11:01
Americans with Kantonalbank accounts olygirl Finance/banking/taxation 0 16.10.2011 13:26
free bank accounts in Switzerland? zinneken Finance/banking/taxation 24 22.09.2011 16:56


All times are GMT +2. The time now is 22:22.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0