Hello,

I have been relatively liquid before the crisis and started to invest and i realized i was paying big penalties on moving my savings (i did not realized rules were changed): on top, i'm now paying negative interests on the cash i moved to by broker because i'm deferring investments.

What are solutions to park chf at limited costs and stay liquid ?
I was not willing to change bank when they started to introduce big fees on my account, but i'm more enclined to do it now, after seeing those huge penalties on savings withdrawals.

Are there still banks where you can park cash and pay nothing, without having to buy products or trade ?
I'm also thinking of changing broker. How does IB treat cash ?

Thank you

First thing to do is to call your bank and tell them you are going to move your funds unless they can come up with a better deal.

They will have a solution.

Interactive Brokers: up to 100k CHF 0% rate, above 100k CHF negative rates (they take money out of the account).

The best is move it to IB, hold up to 100k CHF and the rest convert it to USD or some other currency and wait until you decide to invest some.

I’d think twice about converting it to another currency. There are costs, and no guarantee that you will come out ahead. Keep in in francs and spread it around.

With Interactive Brokers there are no costs (only $2 fee for any amount) as you convert at the Interbank rate.

First of all, investing you need to hold USD in any case and second even if you need to convert back you can wait for a better rate and pick up some yield there.

The guy posted that he is fairly liquid hence no rush to convert back to CHF at a worst rate for an urgent need.

Keep enough CHF to cover any potential needs in the near future.

There is always a spread between the selling and buying rate. Plus the fees. Usually the lower the fees, the larger the spread.

Like I said. Interbank market. Spread is tiny, almost nothing. Not tourist market.

If you convert 50000 chf, $2 fee is nothing. The OP mentioned liquidity and potential investments. I am sure he is not talking about 1000 chf.

Is the guide below the correct one to make the currency conversion?
https://www.mustachianpost.com/2017/...ctive-brokers/

See section: Convert CHF 4'000 to USD on the FOREX

Beside that, most of the banks do not apply negative interest to the deposits...assuming you already have a swiss bank account.

Postfinace will charge you 5 CHF per month to leave the money there, check their Account+ conditions. Interest rare should be 0

https://www.interactivebrokers.com/en/index.php?f=759

here you can see how tight is the spread on Interactive Brokers