Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #41  
Old 28.08.2019, 11:09
taduncombe's Avatar
Junior Member
 
Join Date: Jun 2017
Location: Basel
Posts: 71
Groaned at 10 Times in 10 Posts
Thanked 217 Times in 81 Posts
taduncombe is considered knowledgeabletaduncombe is considered knowledgeabletaduncombe is considered knowledgeable
Re: Credit card: 1.2% international processing fee... avoidable?

Quote:
View Post
So now Revolut is only good for non-banking days? That's ridiculous and again, simply not worth the hassle.
It didn't pull a fast one on you, it's always been this way. I encourage you to familiarize yourself with the terms and conditions of all of your cards. IMO avoiding weekends or transferring cash beforehand is a pretty easy rule... and their justification for the policy is also reasonable.

To emphasize another cool feature of it, they allow up to 200 CHF of international ATM withdrawals per month with no fees for their premium-less account (the ATM itself will still charge its fee). As my post finance debit card never works, it's been a great lifeline for me.

Last edited by taduncombe; 28.08.2019 at 13:13.
Reply With Quote
The following 2 users would like to thank taduncombe for this useful post:
  #42  
Old 28.08.2019, 11:13
Banned
 
Join Date: Jan 2019
Location: close to the frontier
Posts: 1,063
Groaned at 141 Times in 86 Posts
Thanked 597 Times in 379 Posts
Clocker has become a little unpopular
Re: Credit card: 1.2% international processing fee... avoidable?

Quote:
View Post
It didn't pull a fast one on you, it's always been this way. I encourage you to familiarize yourself the terms and conditions of all of your cards. IMO avoiding weekends or transferring cash beforehand is a pretty easy rule... and their justification for the policy is also reasonable.

To emphasize another cool feature of it, they allow up to 200 CHF of international ATM withdrawals with no fees for their premium-less account (the ATM itself will still charge its fee). As my post finance debit card never works, it's been a great lifeline for me.
I personally used Revolut for a couple of years, with few problems and found it a handy alternative.
I have since changed my mind.

Previously they allowed a far higher amount for cash withdrawals. 200 francs is hardly a serious amount.
Reply With Quote
This user would like to thank Clocker for this useful post:
  #43  
Old 28.08.2019, 11:14
Today only's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Europe
Posts: 7,706
Groaned at 845 Times in 578 Posts
Thanked 9,574 Times in 4,539 Posts
Today only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond reputeToday only has a reputation beyond repute
Re: Credit card: 1.2% international processing fee... avoidable?

Quote:
View Post
Far too faffy. I can't know in advance exactly what I am going to buy over the weekend, plus there is the hassle of not only having to load the money onto the card, but also to covert everything into the various currencies I need, ready for the mere possibility of transactions in these.



Just load a bit of money up and leave it, we always need some Euros or GBP's to pay for books from Amazon or whatever.



The amounts are small, 200 of each is more than sufficient.


Revolut is good and saves me considerable money over a traditional card, but as with all things, you need to learn how it works and work it to your particular liking
Reply With Quote
This user would like to thank Today only for this useful post:
  #44  
Old 28.08.2019, 12:18
Don Molina's Avatar
Forum Veteran
 
Join Date: Jul 2012
Location: Zurich
Posts: 829
Groaned at 38 Times in 23 Posts
Thanked 1,184 Times in 505 Posts
Don Molina has a reputation beyond reputeDon Molina has a reputation beyond reputeDon Molina has a reputation beyond reputeDon Molina has a reputation beyond repute
Re: Credit card: 1.2% international processing fee... avoidable?

I have expenses in 2-3 currencies max.
I always have some money in all those currencies, and I try to convert at opportune moments.

That way I don't have to worry about weekend rates or whatever.

Or I can keep all in my reference currency, and chose to judge an objectively better service as a bad one because of one transaction that happened to be worse for me based on the T&Cs of the service.
Reply With Quote
The following 2 users would like to thank Don Molina for this useful post:
  #45  
Old 28.08.2019, 12:31
Banned
 
Join Date: Jan 2019
Location: close to the frontier
Posts: 1,063
Groaned at 141 Times in 86 Posts
Thanked 597 Times in 379 Posts
Clocker has become a little unpopular
Re: Credit card: 1.2% international processing fee... avoidable?

Quote:
View Post
chose to judge an objectively better service as a bad one because of one transaction that happened to be worse for me based on the T&Cs of the service.
My judgement is not based on the one transaction.
https://www.englishforum.ch/3088283-post628.html
Reply With Quote
This user would like to thank Clocker for this useful post:
  #46  
Old 07.09.2019, 15:02
Dinivan's Avatar
Junior Member
 
Join Date: Mar 2007
Location: Geneva
Posts: 83
Groaned at 4 Times in 4 Posts
Thanked 73 Times in 47 Posts
Dinivan has no particular reputation at present
Re: Credit card: 1.2% international processing fee... avoidable?

I just realised after booking a place in Airbnb, processed in CHF, that UBS is also charging a 1.75% fee for "CHF transactions at foreign points of acceptance", which are defined as "Transactions that are charged to a credit or prepaid card at a foreign point of acceptance in Swiss francs are deemed to be foreign transactions. This is either a CHF transaction at a foreign point of acceptance on site or a CHF transaction via e-commerce that is processed abroad.".

I'm so annoyed. I don't recall this happening before? and I'm sure it does not cost UBS any money.

Apart from using new entrants such as Revolut... is there any bank left in Switzerland with reasonable fees?!
Reply With Quote
This user would like to thank Dinivan for this useful post:
  #47  
Old 08.09.2019, 10:48
BGx BGx is offline
Newbie
 
Join Date: Aug 2019
Location: Basel
Posts: 6
Groaned at 0 Times in 0 Posts
Thanked 7 Times in 5 Posts
BGx has no particular reputation at present
Re: Credit card: 1.2% international processing fee... avoidable?

Quote:
View Post
I just realised after booking a place in Airbnb, processed in CHF, that UBS is also charging a 1.75% fee for "CHF transactions at foreign points of acceptance", which are defined as "Transactions that are charged to a credit or prepaid card at a foreign point of acceptance in Swiss francs are deemed to be foreign transactions. This is either a CHF transaction at a foreign point of acceptance on site or a CHF transaction via e-commerce that is processed abroad.".

I'm so annoyed. I don't recall this happening before? and I'm sure it does not cost UBS any money.

Apart from using new entrants such as Revolut... is there any bank left in Switzerland with reasonable fees?!
UBS is charging the 1.75% on foreign transaction in CHF for at least 2 years now. I had one of the UBS packages, when I first notice that charge I ask them if it would be possible to get rid of that. And the only thing I got from them was. Everyone charges that.

I could only find one Credit Card not charging it. From PostFinance. So I moved 90% of my credit card transactions to Post finance.
Reply With Quote
This user would like to thank BGx for this useful post:
  #48  
Old 08.09.2019, 11:51
Senior Member
 
Join Date: Feb 2010
Location: CH
Posts: 410
Groaned at 17 Times in 11 Posts
Thanked 400 Times in 207 Posts
ch2013 has made some interesting contributions
Re: Credit card: 1.2% international processing fee... avoidable?

Quote:
View Post
I could only find one Credit Card not charging it. From PostFinance. So I moved 90% of my credit card transactions to Post finance.

No longer, they now charge a processing fee although less than the others...

Purchases and cash withdrawals in foreign currency
1.2% processing surcharge (PostFinance uses the UBS currency sell rate. The exchange rate used is set once a day and is valid for processing on the next working day.)


(From PostFinance Website)
Reply With Quote
This user would like to thank ch2013 for this useful post:
  #49  
Old 08.09.2019, 12:43
Dinivan's Avatar
Junior Member
 
Join Date: Mar 2007
Location: Geneva
Posts: 83
Groaned at 4 Times in 4 Posts
Thanked 73 Times in 47 Posts
Dinivan has no particular reputation at present
Re: Credit card: 1.2% international processing fee... avoidable?

The Swiss banks have been telling everyone how they haven't passed on the negative interest rates onto small savers. Now I'm realising that in fact they probably have ; when adding costs such as these I'm very probably paying more for my bank account than money I get from it.
Reply With Quote
This user would like to thank Dinivan for this useful post:
  #50  
Old 09.09.2019, 10:11
BGx BGx is offline
Newbie
 
Join Date: Aug 2019
Location: Basel
Posts: 6
Groaned at 0 Times in 0 Posts
Thanked 7 Times in 5 Posts
BGx has no particular reputation at present
Re: Credit card: 1.2% international processing fee... avoidable?

Quote:
View Post
No longer, they now charge a processing fee although less than the others...

Purchases and cash withdrawals in foreign currency
1.2% processing surcharge (PostFinance uses the UBS currency sell rate. The exchange rate used is set once a day and is valid for processing on the next working day.)


(From PostFinance Website)
That's a different fee. The one that I'm trying to avoid is the fee from payments in CHF abroad.
Reply With Quote
This user would like to thank BGx for this useful post:
Reply

Tags
banking, credit card, fees, mastercard, visa




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
Credit Suisse Credit card billing date elfe Finance/banking/taxation 5 13.11.2011 20:12
Swiss credit card - tired of paying international fees monigue Finance/banking/taxation 31 24.05.2011 20:49
Can a shop charge me a fee to pay with my credit card? kalahari Girl Finance/banking/taxation 36 07.11.2008 17:12
Swiss Credit Card Processing expat_in_zug Business & entrepreneur 9 18.04.2008 08:05
AECS in Horgen - Credit Suisse's credit card business - somebody work there? Greg530 Finance/banking/taxation 9 15.04.2007 18:05


All times are GMT +2. The time now is 17:37.


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