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Old 18.02.2019, 16:51
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Short-Term Loan for British National

Hello,

I arrived in Geneva at the start of the year for a new job.

I am living in Eaux Vives, am awaiting my permit B (have letter to prove it's been applied for) and have a bank account with credit suisse.

My salary is 80,000CHF, and credit suisse have said they would be happy to sort a loan around the 5k CHF mark, but not until my permit arrives.

My question is, is there any other companies that would consider a short term loan (1k-5k) to be paid back relatively quickly (under 6 months), that would not require this permit?

TIA
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Old 19.02.2019, 11:23
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Re: Short-Term Loan for British National

I have also realised I have a certificate of non debt as well, that is dated from 11 days ago.

Thanks
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Old 19.02.2019, 11:35
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Re: Short-Term Loan for British National

Without a physical permit I can't imagine any company would offer a loan. But you're British with a work contract, you should get the permit within a week or 2.
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Old 19.02.2019, 11:41
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Re: Short-Term Loan for British National

Very unlikely any reputable Swiss lender will loan you anything. There are loan sharks around but I don't recommend them.

If you're really short of cash why not ask your company for a loan till your permit arrives. Alternatively maybe ask your UK (I assume UK otherwise home?) bank for a loan.
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Old 19.02.2019, 11:52
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Re: Short-Term Loan for British National

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Hello,

I arrived in Geneva at the start of the year for a new job.

I am living in Eaux Vives, am awaiting my permit B (have letter to prove it's been applied for) and have a bank account with credit suisse.

My salary is 80,000CHF, and credit suisse have said they would be happy to sort a loan around the 5k CHF mark, but not until my permit arrives.

My question is, is there any other companies that would consider a short term loan (1k-5k) to be paid back relatively quickly (under 6 months), that would not require this permit?

TIA
Hi, you need to wait until your permit arrives.

Migros are the cheapest in terms of interest rates. You can use "www.comparis.ch" to search for more options. You can also change the language to English
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Old 19.02.2019, 14:11
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Re: Short-Term Loan for British National

Thank you for your advice.

Yes I'm hoping my permit won't be too much longer, but the timeframes given seem pretty vague.

In london we have this short term loan solutions you can use, much like an overdraft, with the interest based on when you can pay it off. Is there nothing like that here? By loan sharks do you mean actual physical people? Or a shop that is not a bank etc?

I have tried with my UK account, but they were unwilling to offer anything now that my salary is not paid into a UK account.

Thanks
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Old 19.02.2019, 15:00
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Re: Short-Term Loan for British National

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Hi, you need to wait until your permit arrives.

Migros are the cheapest in terms of interest rates. You can use "www.comparis.ch" to search for more options. You can also change the language to English



Migros are very unlikely to give an undocumented newbie a loan !


They are certainly one of the cheapest, if not the cheapest as they loan to minimal risks in order to avoid defaults which allows them to give cheaper loans.
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Old 19.02.2019, 15:16
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Re: Short-Term Loan for British National

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In london we have this short term loan solutions you can use, much like an overdraft, with the interest based on when you can pay it off. Is there nothing like that here?
Payday style loans are not a common thing here in Switzerland.
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Old 19.02.2019, 15:19
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Re: Short-Term Loan for British National

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Hello,

I arrived in Geneva at the start of the year for a new job.

I am living in Eaux Vives, am awaiting my permit B (have letter to prove it's been applied for) and have a bank account with credit suisse.

My salary is 80,000CHF, and credit suisse have said they would be happy to sort a loan around the 5k CHF mark, but not until my permit arrives.

My question is, is there any other companies that would consider a short term loan (1k-5k) to be paid back relatively quickly (under 6 months), that would not require this permit?

TIA
On a salary of 80,000CHF - it's not a bad but not a lot - I would not consider a loan.
Rather concentrate on rent, taxes and savings. People here live very comfortably and happily on that amount - why make yourself problems?
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Old 19.02.2019, 15:24
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Re: Short-Term Loan for British National

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Thank you for your advice.

Yes I'm hoping my permit won't be too much longer, but the timeframes given seem pretty vague.

In london we have this short term loan solutions you can use, much like an overdraft, with the interest based on when you can pay it off. Is there nothing like that here? By loan sharks do you mean actual physical people? Or a shop that is not a bank etc?

I have tried with my UK account, but they were unwilling to offer anything now that my salary is not paid into a UK account.

Thanks
Check with Credit Suisse as I know of one of our employees she opened a Credit Suisse account and received a credit card with a 5,000 .- limit without asking for it.

https://www.credit-suisse.com/ch/en/...unt-cards.html
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Old 19.02.2019, 15:33
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Re: Short-Term Loan for British National

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Check with Credit Suisse as I know of one of our employees she opened a Credit Suisse account and received a credit card with a 5,000 .- limit without asking for it.

https://www.credit-suisse.com/ch/en/...unt-cards.html
Did that about a decade ago (credit limit 10'000 per card(s). Be aware that you are in very deep financial shit if you leave the company and can't pay back straight away.
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Old 19.02.2019, 15:37
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Re: Short-Term Loan for British National

Not that be nosy...
but what do you need the loan for? You don't have to answer.

If it is to put down the rental deposit you can use Swiss Cuation. If it is for furniture, some stores have store credit. Did your bank not give you a credit card?
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Old 19.02.2019, 15:37
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Re: Short-Term Loan for British National

use a credit card
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Old 19.02.2019, 15:54
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Re: Short-Term Loan for British National

Which are the credit card companies that are available though? It is of my understanding to get a credit card, I would need to have a permit?

My contract is initially for 2 years over here, I have been in the industry for 6 so job security is not something I am worried about
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Old 19.02.2019, 16:15
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Re: Short-Term Loan for British National

You're at the midpoint of the typical 3-month trial period, assuming there is one in the first place (check your contract). If your supervisor is positive that you'll probably "survive", they may have a good idea by now, your employer may give you an advance. It's not that uncommon generally, and half or even a full month's salary may be doable.
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Old 19.02.2019, 16:19
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Re: Short-Term Loan for British National

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Which are the credit card companies that are available though? It is of my understanding to get a credit card, I would need to have a permit?

My contract is initially for 2 years over here, I have been in the industry for 6 so job security is not something I am worried about
use a credit card that you already have.
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Old 19.02.2019, 16:39
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Re: Short-Term Loan for British National

I would never use a credit card.
If you can't afford it, then why buy it.
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Old 19.02.2019, 17:26
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Re: Short-Term Loan for British National

By loan shark I mean, usually, private people who lend short term, but at high interest rates. Avoid them at all costs, they are not pleasant people.

Don't you still have your UK credit cards? It's rare for them to be taken away. I still have a Visa card from when I lived in the UK, then moved to Holland and now Switzerland. They never took it away from me despite my changing address and country.
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Old 19.02.2019, 17:39
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Re: Short-Term Loan for British National

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Which are the credit card companies that are available though? It is of my understanding to get a credit card, I would need to have a permit?

My contract is initially for 2 years over here, I have been in the industry for 6 so job security is not something I am worried about



And you don't have enough put away to tide you over for a couple months ?
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Old 19.02.2019, 18:28
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Re: Short-Term Loan for British National

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I would never use a credit card.
If you can't afford it, then why buy it.
Is rather a childish approach to lending lol.

I do but most is tied up and would be at least 7 days before it cleared into a swiss account, hence the need for a quicker solution.
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