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Old 11.07.2019, 16:02
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Post Finance

Hello

I have been a long term customer of post finance and really unhappy with their service, IT upgrades that close their internet banking, lose payments etc, the last straw was charging 24chf to transfer a small sum to a UK bank.

What would folks suggest as an alternative to Postfinance, I know migros bank appeared high in recent Swiss magazine...

Thanks
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Old 11.07.2019, 17:14
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Re: Post Finance

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IT upgrades that close their internet banking,
In 14 year I can't recall a single time where I need to access on line banking and it was done.... when and how often has that happened to you. Most of the banks follow the same strategy for upgrading, so I doubt it will be any different at other banks, so depending on when you need access you may find the same problem else where.

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lose payments etc,
Over the years I've had accounts with sever Swiss banks and I have never had a lost payment... so what is this all about?

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the last straw was charging 24chf to transfer a small sum to a UK bank.
SEPA payments are free and that includes the UK, so what did you do????

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SEPA payments in e-finance are free of charge, but some receiving banks may charge their customers a fee for credits received (this is beyond PostFinance’s control)
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Last edited by 3Wishes; 11.07.2019 at 21:11. Reason: fixed quote
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  #3  
Old 11.07.2019, 21:08
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Re: Post Finance

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SEPA payments are free and that includes the UK, so what did you do????

They are supposed to be free, but I made a SEPA from postfinance to Spain and 18 euros was deducted before it arrived.


Did the same thing to the UK - 20 GBP deducted.



Chose the other option for sending (our cost) and it was 4 CHF for the receiving banks fee... plus 20CHF admin from PF.


That is unfortunately my reality since they changed the free banking limits in January.


Regards




Ian
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  #4  
Old 11.07.2019, 21:35
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Re: Post Finance

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Hello

I have been a long term customer of post finance and really unhappy with their service, IT upgrades that close their internet banking,
Can happen to every bank and has happened to other banks
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lose payments
Please do explain, I have no clue what you are talking about.
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, the last straw was charging 24chf to transfer a small sum to a UK bank.
You must have taken the costs of the recieving party unto you, and post finance like many other banks charges for handling such. We never do such and never had extra costs.
Quote:

What would folks suggest as an alternative to Postfinance, I know migros bank appeared high in recent Swiss magazine...

Thanks
Dunno, stay with postfinance, your post does not reveal a reason why you should leave them.
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  #5  
Old 11.07.2019, 21:41
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Re: Post Finance

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They are supposed to be free, but I made a SEPA from postfinance to Spain and 18 euros was deducted before it arrived.


Did the same thing to the UK - 20 GBP deducted.



Chose the other option for sending (our cost) and it was 4 CHF for the receiving banks fee... plus 20CHF admin from PF.


That is unfortunately my reality since they changed the free banking limits in January.


Regards




Ian
Sepa transfer ain't free by definition.
Sending with Sepa is free by definition.

Receiving through Sepa might come with additional charges, and if you give your bank the order to handle these charges for the other party they will do this but charge you for doing so.
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Old 11.07.2019, 22:02
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Re: Post Finance

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In 14 year I can't recall a single time where I need to access on line banking and it was done.... when and how often has that happened to you. Most of the banks follow the same strategy for upgrading, so I doubt it will be any different at other banks, so depending on when you need access you may find the same problem else where.
Postfinance have actually had multiple outages in the last 10 years, from cashpoints to online banking. It has on occosion been extremely annoying and has happened more times than I would like. Still, I think it is the best bank for my needs and the online services and phone app are super quick and easy to use.
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Old 11.07.2019, 22:20
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Re: Post Finance

Isn't SEPA for euro payments only? For example, a euro payment from CH to UK is a SEPA payment - but a CHF of GBP payment is not.
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Old 11.07.2019, 23:14
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Re: Post Finance

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Isn't SEPA for euro payments only? For example, a euro payment from CH to UK is a SEPA payment - but a CHF of GBP payment is not.
Sepa is indeed Euro only.
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Old 12.07.2019, 01:20
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Re: Post Finance

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They are supposed to be free, but I made a SEPA from postfinance to Spain and 18 euros was deducted before it arrived.


Did the same thing to the UK - 20 GBP deducted.
I have no idea what you people are doing! I have made payments to the UK, Ireland and Germany in the past six weeks and they were free, made from a CHF account.

The only thing that is a bit strange is your statement that you were charged in Euro and Sterling. Have you asked them for an explanation?
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Old 12.07.2019, 02:07
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Re: Post Finance

PostFinance has (or at least had, not sure if it is still so) some lesser fees in the current account for those customers who also maintained a certain minimum balance in their PostFinance savings account. Perhaps that could account for the discrepancies in fees charged in the above examples.
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Old 12.07.2019, 11:33
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Re: Post Finance

Hello

Thank you for all your replies, not sure how to quote so:


Postfinance have actually had multiple outages in the last 10 years, from cashpoints to online banking. It has on occosion been extremely annoying and has happened more times than I would like.

Yes, that is one of the reasons I am unhappy with PF


I have no idea what you people are doing! I have made payments to the UK, Ireland and Germany in the past six weeks and they were free, made from a CHF account.

The only thing that is a bit strange is your statement that you were charged in Euro and Sterling. Have you asked them for an explanation?



Yes I have and their answer differs each time



PostFinance has (or at least had, not sure if it is still so) some lesser fees in the current account for those customers who also maintained a certain minimum balance in their PostFinance savings account. Perhaps that could account for the discrepancies in fees charged in the above examples.

I have more than this amount in my account


Please do explain, I have no clue what you are talking about. lose payments




A recent software upgrade removed details from payment templates with
the result that accounts were debited ie the money taken out and
not sent to the account as per original template

Thanks again, now looking at Neon online banking
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Old 12.07.2019, 16:36
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Re: Post Finance

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I have no idea what you people are doing! I have made payments to the UK, Ireland and Germany in the past six weeks and they were free, made from a CHF account.

The only thing that is a bit strange is your statement that you were charged in Euro and Sterling. Have you asked them for an explanation?
OK, I wasn't clear enough in my explanation about how and where charges came about.

I sent 1000 eur. PF did indeed send it for free, apart from a 2chf fee charged at the end of the month.

But the recipient received 18 eur less than expected, as the receiving or intermediary bank debited the charge. So I had to do another transfer...

2nd time I sent 1000 and elected the PF equivalent of net to beneficiary. This time Beneficiary got the full 1000, but PF deducted 4 chf plus 20chf service charge.

Bottom line. It may or may not be pf doing all the charging, but they are certainally charging, which they did not do in the past 3 years I have been with them.

Regards

Ian
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Old 12.07.2019, 16:43
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Re: Post Finance

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...Thank you for all your replies, not sure how to quote...
Here's a screen shot of the two quote buttons, and which to use:
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Old 12.07.2019, 21:52
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Re: Post Finance

https://www.postfinance.ch/en/busine...rnational.html
Postfinance SEPA Transfer in Euro currency should be free unless recipient's bank charges for incoming SEPA.
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