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Old 20.11.2019, 12:01
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Joint bank account

I'm looking for a joint bank account, all I need is a way to share a budget with my girlfriend, possibly with two debit cards
We both have Revolut but its Group Vault allows admin only to withdraw the money.
I read about Starling or Monzo doing it but looks like they're only for UK residents and I'm afraid they charge for money spent in CHF.

I'd like not to go with PostFinance or other local bank family account.

Thanks!
.A
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Old 20.11.2019, 12:53
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Re: Joint bank account

This might be a simpler solution for you.
I won't have a joint account. Don't like them at all. My OH transfers a few thousand CHF into my account as and when it's needed, and I pay for all the shopping and household stuff from that.
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Old 20.11.2019, 12:53
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Re: Joint bank account

Can't you simple have your own bank account at whatever bank of your choice, and then ask for an additional debit card having your girlfriend's name on it?

Or is is then already labelled as family account?
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Old 20.11.2019, 13:02
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Re: Joint bank account

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I'm looking for a joint bank account, all I need is a way to share a budget with my girlfriend, possibly with two debit cards
We both have Revolut but its Group Vault allows admin only to withdraw the money.
I read about Starling or Monzo doing it but looks like they're only for UK residents and I'm afraid they charge for money spent in CHF.

I'd like not to go with PostFinance or other local bank family account.

Thanks!
.A
If you have a regular bank account with e-banking capabilities, nobody would be any the wiser as to who is using the account.
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Old 20.11.2019, 13:59
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Re: Joint bank account

I bank with UBS, and although I dont really like them. The package to extend what I have to also include a joint account was quite interesting. It essentially meant an extra 5 chf a month on my existing package. This allowed my GF a gold card and the other benefits on our joint account.

Our second choice if we didnt go with this was Migros Bank. With 7k minimum in the bank the charges per month are pretty cheap and some of the conditions are quite interesting
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Old 20.11.2019, 17:24
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Re: Joint bank account

I use the UBS family package...gives you the joint account and a personal account each.

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This might be a simpler solution for you.
I won't have a joint account. Don't like them at all. My OH transfers a few thousand CHF into my account as and when it's needed, and I pay for all the shopping and household stuff from that.
Out of interest, why don't you like joint accounts?
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Old 20.11.2019, 17:36
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Re: Joint bank account

GF and I have our joint account with PostFinance. Each of us has a standing order from their personal account (at other banks) and transfer each month a fixed amount to the joint account which is used for rent, grocery, and other shared expenses.

Maybe it is time to go with Migros Bank.
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Old 20.11.2019, 17:44
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Re: Joint bank account

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I use the UBS family package...gives you the joint account and a personal account each.



Out of interest, why don't you like joint accounts?
so for personal account each + joint account you pay 15 per month in total?

on the face of it this seems to be an improvement on the 10 per month each person for the individual package.

but worse than 3-5 fr per month per person for just the basic banking.
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Old 20.11.2019, 18:00
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Re: Joint bank account

We have the joint account with PostFinance. We pay 5 CHF per month and have a debit card each.
Both of you have to go to the bank in person to open it. They don't do it online, which I found a bit annoying at the time, although it took no longer than 10 minutes.
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Old 20.11.2019, 19:03
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Re: Joint bank account

Zkb
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Old 20.11.2019, 20:23
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Re: Joint bank account

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GF and I have our joint account with PostFinance. Each of us has a standing order from their personal account (at other banks) and transfer each month a fixed amount to the joint account which is used for rent, grocery, and other shared expenses.

Maybe it is time to go with Migros Bank.
What we do. Personal each and a shared.
Sensible modern solution...?
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Old 21.11.2019, 09:46
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Re: Joint bank account

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so for personal account each + joint account you pay 15 per month in total?

on the face of it this seems to be an improvement on the 10 per month each person for the individual package.

but worse than 3-5 fr per month per person for just the basic banking.
Yes indeed, in total, so it's a bit cheaper than 2 UBS individual packages.

After keyclub points from using the credit card it probably works out at 5CHF per month between us
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Old 21.11.2019, 10:07
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Re: Joint bank account

I also have the Family Package with UBS.

As I arrived first in CH I at the beginning they gave me 1 personal account, 1 personal saving account and 1 3rd pillar account.

When my wife arrived they changed my plan to the Family Package so I have now, on top of what I had before, one joint account, one joint saving account and my wife got her 3rd pillar personal account.

In order to save a bit her Credit Card is connected to my main credit card, meaning that the amount I can spend each month (10k CHF) is shared between the two cards (instead of having 2 cards with 10k CHF limit each).

We have a debit card each for the Joint Account.

I already moved all the money from the personal saving account to the joint one, ATM as my salary still arrives on my personal account I transfer some funds to the joint account for my wife for groceries etc. In the future I will move my salary to the joint account and close the personal one.

Back in Italy we also had (and actually still have as our mortgage for our Italian house is still there) a joint account and I always found it much easier to handle/manage than having two separate accounts.
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Old 21.11.2019, 10:41
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Re: Joint bank account

I think for a married couple here in Switzerland, it would be very difficult to have 2 separate accounts for everything.

As you must pay taxes together, and essentially your salary(ies) are shared, aswell as most expenses of course, managing everything in the joint account makes sense to me. Whenever one of us needs personal money, we transfer the same amount to both personal accounts.
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Old 21.11.2019, 10:45
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Re: Joint bank account

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GF and I have our joint account with PostFinance. Each of us has a standing order from their personal account (at other banks) and transfer each month a fixed amount to the joint account which is used for rent, grocery, and other shared expenses.

Maybe it is time to go with Migros Bank.
We had a similar arrangement but with our personal accounts also in Postfinance. However, we closed the shared account since they charged a CHF 5 fee per month as we didn't jointly own investment assets of at least CHF 25k. It doesn't refer to the account balance but products like funds, 3rd pillar, etc. It seemed ridiculous to us, as we already have those products individually, but they blamed that a joint account is a new customer number bla bla .

The workaround was opening a new account under my name and granting power of attorney to my wife for that specific account. Thus, she can see the account in her e-banking to pay bills and she could get a PF card for free. If you are interested, the forms can be found here. And it saves you CHF 60 a year

Last edited by hof86; 21.11.2019 at 10:47. Reason: Fixing typos
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Old 21.11.2019, 10:51
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Re: Joint bank account

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As you must pay taxes together, and essentially your salary(ies) are shared, aswell as most expenses of course, managing everything in the joint account makes sense to me. Whenever one of us needs personal money, we transfer the same amount to both personal accounts.
The salaries are not shared in the default marriage property regime I is only shared on dissolution of the property regime (divorce, death, nor new property regime). Each spouse has full and sole control over its own income.

Shared income is only the case in the joint estates property regime which will need a notarized marriage contract.

https://www.ch.ch/en/matrimonial-regime/

Be aware about one important draw back of too much money on a shared account. In the unfortunate event of the death of one the account holders, the account might get blocked and any withdraw might only be possible once all inheritance matters have been settled. You might want to discuss this issue with your bank representative. It is certainly an issue in case where only one of the spouses is the account holder and the other, the surviving one, has only power of attorney.
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Old 21.11.2019, 11:12
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Re: Joint bank account

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The salaries are not shared in the default marriage property regime I is only shared on dissolution of the property regime (divorce, death, nor new property regime). Each spouse has full and sole control over its own income.

Shared income is only the case in the joint estates property regime which will need a notarized marriage contract.

https://www.ch.ch/en/matrimonial-regime/

Be aware about one important draw back of too much money on a shared account. In the unfortunate event of the death of one the account holders, the account might get blocked and any withdraw might only be possible once all inheritance matters have been settled. You might want to discuss this issue with your bank representative. It is certainly an issue in case where only one of the spouses is the account holder and the other, the surviving one, has only power of attorney.
Ah, I didn't know that!

The tax issue is the same though right?.... if you are taxed on the total of your joint income, how can you manage paying tax if you each control your own salary? Just apply a % of the tax that each pays or something like that maybe?
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