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Old 11.07.2019, 00:18
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Bank account with quick account balance update?

Hi!!

I recently opened a bank account with neon, and so far it hasn't been a good experience.
Over a week to receive my card, my surname was spelled wrong, even though I provided with my passport and work permit and also wrote it right when I registered online, now I need to wait another week for the new card to come. They also charge me 1 payment twice and said that they made a mistake there. And the worst part, it takes foreeeever to update the account balance, so I never know how much I actually have in my account unless I stop spending money for a week.

All those reasons made me want to join a new bank. What's the best bank with online banking and quick spending update? (if it can send you tects every time I spend, would also be great)
Would also be great if they don't charge, but obviously a good service might come for a price 😂

I look forward to read your suggestions!!
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Old 11.07.2019, 02:00
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Re: Bank account with quick account balance update?

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And the worst part, it takes foreeeever to update the account balance, so I never know how much I actually have in my account unless I stop spending money for a week.
Is this your first bank account? Surely you know that you need to keep track of your balance? It can take longer than a week for some transactions to hit your account and sometimes there are mistakes, so you need to keep track of it!
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Old 11.07.2019, 05:46
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Re: Bank account with quick account balance update?

The speed of account updates actually annoys me too .. I'm with a cantonal bank and it can be days to see transactions appear, even an internal account to account transfer can take 4 hours.

However my credit card issued by the same bank (although managed by viseca) updates instantly, an alert straight to my watch/phone with every spend.

So it's possible..

And yeah - i know how it works both ways, I work for a big bank
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Old 11.07.2019, 07:25
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Re: Bank account with quick account balance update?

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Is this your first bank account? Surely you know that you need to keep track of your balance? It can take longer than a week for some transactions to hit your account and sometimes there are mistakes, so you need to keep track of it!
Can’t say I have any of those problems with my Credit Suisse account. Foreign debit card transactions may take a few days to show up, but that is the same for all banks.

I have notifications set up for transactions from my day to day account. I just looked and you can also set it up to send you a balance notification if your balance exceeds an upper or lower limit and you can ask for daily, weekly, monthly balance updates.

As far as I know, CS don’t offer a free banking service though, if that’s important to you.
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Old 11.07.2019, 13:05
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Re: Bank account with quick account balance update?

Not sure about Neon but you can setup alerts on UBS to give you a notification (either by push or text) every time a transaction hits your account. Only delay are some foreign transactions.
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Old 11.07.2019, 15:38
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Re: Bank account with quick account balance update?

My personal favourite is Raiffeisen. Also got accounts with UBS and CS but from a service perspective Raiffeisen beats them both.
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Old 11.07.2019, 20:49
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Re: Bank account with quick account balance update?

My advice, get a Transferwise bordeless account. Send CHF to your card for free(from a CHF account) and use your Transferwise mastercard anywhere in the world with instant push messages for anything you spend. Best product out there at the moment according to my opinion.
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Old 11.07.2019, 21:05
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Re: Bank account with quick account balance update?

UBS has instant notifications of debit and credits. Works perfectly. Sends an instant notification to my Apple watch and iPhone via the app. You can open an Individual UBS package account for free and the package comes with 12months free subscription charges.

Why did you set up a Neon account? It is trying to replicate N26 and Monzo (and transferwise boarderless account) but reviews dont seem that good. If you need advice on services without fees outside of CH, sending money abroad etc.. then just ask....
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Old 13.07.2019, 00:04
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Re: Bank account with quick account balance update?

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UBS has instant notifications of debit and credits. Works perfectly.
I agree, UBS do the job perfectly.
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Old 14.07.2019, 12:26
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Re: Bank account with quick account balance update?

So does ZKB.
Which, even though it is a bit pricey, has a very good and simple ebanking website and app that I rarely if ever saw down outside of an announced maintenance-window.

IMO, all these new "online banks" are almost scams.

BTW: I have a co-worker who transferred all his money to a German credit-card company that charges no fees for withdrawal before he went to travel a few months.

In that time, SNB stopped propping up the CHF and he basically lost 20%...
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Old 14.07.2019, 13:30
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Re: Bank account with quick account balance update?

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IMO, all these new "online banks" are almost scams.
I know you used the “IMO” disclaimer, but that’s just factually incorrect. Monzo in the UK and N26 in Europe(based in germany) are very respected start up “fintech” banks. Perhaps you should try them and see the advantages they bring. I think it would better to say that it is vital do some market research before putting your money and trust in to a bank that is a new concept. Just because it is new and away from the traditional banking concept, doesn’t mean it is a scam.
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Old 14.07.2019, 19:10
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Re: Bank account with quick account balance update?

I admit, it was very IMO.
I even looked at the n26 website and none of it is really crucial, for me.

Maybe if you travel a lot?

But it's probably a lot like those gym memberships: a lot of people sign up and end up not using it that much.
Wikipedia reference-linkhttps://de.wikipedia.org/wiki/N26_(Direktbank)
says, 60% of the customers are under 35.
You can guess which age-group I fall under ;-)

I'm a cash person anyway. I'm one of those persons who laments at VBZ for not accepting cash at the ticket machines at the tram-stops anymore.
I try to settle everything in cash, as much as possible.

The thing with the banks here, though, is that they usually don't provide credit-cards right away for new customers (unless they bring some funds).
We had a new (female) Polish employee and she was upset because ZKB didn't want to issue her a credit card until some salaries had rolled in.

So, if that ticks a box with you, maybe one of the internet-only banks is better.
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Old 14.07.2019, 19:18
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Re: Bank account with quick account balance update?

Is N26 a bank? With Einlagensicherungsfonds and all??
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Old 14.07.2019, 19:27
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Re: Bank account with quick account balance update?

It's a German bank.

Wikipedia says, it has a full bank license. Whatever that means.

You can open a "Girokonto" with them.
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Old 14.07.2019, 23:57
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Re: Bank account with quick account balance update?

Both are fully fledged banks, protected by the FSCS or German Financial regulations. Regarding them being a scam or not, plenty of reviews on line you can spend a while trawling through. Banks like this are the future, or they will be bought out by the bigger established banks for their own tech. Monzo is huge in the UK, voted best bank in 2018. The advanatges of banks like this become apparent when trying to use the card abroad and not in the "native" currency. Both charge no monthly fee "ever", no exchange fee (set middle market ie: XE.com) and also there is no withdrawl fee or mark ups. UBS charge me 1.7% and a terrible exchange rate via their credit card, most UK banks are the same. N26 also has Transferwise built in so trnasfers to the UK or CHF are super cheap and easy. There are advantages to be had, but you need to put your faith in to the system!!

It really depends if you like this kind of stuff or not! I do and i like to find the best card or system that can be used all over the world,simply and for the minimum fee, but i can understand if you just want to use your 1 bank and accept their charges. For me, 10mins a month tranfering money from UBS via Transferwise to N26 or Monzo makes sense to me.
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Old 15.07.2019, 08:02
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Re: Bank account with quick account balance update?

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My advice, get a Transferwise bordeless account. Send CHF to your card for free(from a CHF account) and use your Transferwise mastercard anywhere in the world with instant push messages for anything you spend. Best product out there at the moment according to my opinion.
We use TransferWise in addition to UBS for everything outside of Switzerland
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Old 20.07.2019, 19:22
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Re: Bank account with quick account balance update?

For what I've been reading, I think I'm gonna open a UBS account 😊
Does anyone know how long it takes to receive the card?
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