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  #21  
Old 14.04.2021, 10:33
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Re: PostFinance upping their fees

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Heya

Just a quick heads-up, got a letter from PostFinance today that they were upgrading their fees and blablabla and they had analysed my account and found that I fit best into their most expensive option (of course) .
So, starting on 01.07. they wanted to charge me 12.- per month, plus 5.- per month for any paper letters. Which gives a whopping 204.- fee per year for the honour of giving them your money .

If anyone here has a PostFinance account, you can log-in to their website and change the settings (quite well hidden, click on your name in the menu, then "My products", under "Fees", which is such a beauty in graphical design that my old brain couldn't find it for a solid minute, the tiny "Details" button on the right, and then "Check and adapt options", and there you can switch.
/RANT OVER

Hope this can be helpful to someone else. More details can be found here:
https://www.postfinance.ch/en/privat...g-package.html
You can:

a) either get the cheapest option (5 chf/month)
b) change bank

"If you do not agree with the new regulations, you can close your savings accounts in writing at any time within one month of receipt of the customer letter. This will not disadvantage you, and any applicable withdrawal limits will be suspended during this month"



Both options give you a 5 chf discount if you have at least 25'000 chf of invested asset or mortgage

I think the paper option should only be used by those who are not familiar with internet & co. As others have pointed out, nobody prevents you from printing whatever you need.

When comparing fees from other banks, I was unable to find something similar (free withdrawals when abroad, etc.) at the same price (12 chf/month or 7 chf month with discount).
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  #22  
Old 14.04.2021, 10:50
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Re: PostFinance upping their fees

ups, just saw someone suggested the very same printer for 80 CHF

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Ooh, someone never had to buy one of those golden ink toner cartridges, where you want to print in black and white but the printer won't budge because you're out of CYAN. And then you use them so rarely that they dry out before you can use them a second time.

Last edited by besmegenis; 14.04.2021 at 11:02.
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  #23  
Old 14.04.2021, 10:52
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Re: PostFinance upping their fees

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So! What's the alternative to PF?
There are online offerings like Neon and Zak which offer free basic accounts but forget about free paper statements.

Banks have to deal with negative interest rates and they are increasing fees to cover costs.
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  #24  
Old 14.04.2021, 10:53
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Re: PostFinance upping their fees

I also got the same message from PF recommending I go to the higher tier service and just clicked to confirm I wanted to stay with the old 5chf tier service. It's really not a big deal and you can change any time. PF is still by far the best price/performance option for general usage and the mobile and online services are now damn good in my view.
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  #25  
Old 14.04.2021, 11:11
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Re: PostFinance upping their fees

It's time to leave PF simply, there are better options out there, someone already posted 'mobile' offerings of neon-free.ch and ZAK in bank Cler.


There are also accounts that are free (including Maestro card) if you have total assets >15k or >25k, these are: BCV and https://www.ca-nextbank.ch/en/en from a bit more 'traditional' banks.
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  #26  
Old 14.04.2021, 11:38
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Re: PostFinance upping their fees

Someone complained about the ES and ESR slips used for payment in Switzerland. Can't remember which thread that was (mods, you're welcome to shift this post if you remember ).

They will be abandoned 30.9.2022!

My first thought was why did we keep all these 90-year old alive during corona if we pull the rug under them re independent living/paying their bills?!
But the QR bills will be payable at the post-office too.

As I noticed that 20Minutes is EFers favourite newspaper here , here is some info in German.
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  #27  
Old 14.04.2021, 11:41
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Re: PostFinance upping their fees

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So! What's the alternative to PF?
what are your banking requirements?
  • Debit card?
  • Paper statements?
  • ....
What will you bring to the party?
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  #28  
Old 14.04.2021, 11:59
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Re: PostFinance upping their fees

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what are your banking requirements?
  • Debit card?
  • Paper statements?
  • ....
What will you bring to the party?

Normally never bring any bank related material to any party.

However, just need a cozy place to stash a few K at no charge where it can collect something in interest. The Crédit Agricole seems to be a possibility. Anyone here who can attest by em?
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  #29  
Old 14.04.2021, 12:00
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Re: PostFinance upping their fees

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Someone complained about the ES and ESR slips used for payment in Switzerland. Can't remember which thread that was (mods, you're welcome to shift this post if you remember ).

They will be abandoned 30.9.2022!

My first thought was why did we keep all these 90-year old alive during corona if we pull the rug under them re independent living/paying their bills?!
But the QR bills will be payable at the post-office too.

As I noticed that 20Minutes is EFers favourite newspaper here , here is some info in German.
you do know the migration to the pink payment slips took years?

As the QR code ones were brought out last summer, this is probably a good thing. I have seen one of my billers use the new form....
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  #30  
Old 14.04.2021, 12:05
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Re: PostFinance upping their fees

collect interest? That's a novel idea

https://www.moneyland.ch might help you get some ideas.

Inactive money will not get much interest in the current situation. If you want a regulated free banking option without a card and run with Twint then CSX might be an option.
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  #31  
Old 14.04.2021, 12:10
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Re: PostFinance upping their fees

I'm switching to neon free, postfinance got less convenient also for other services (3a, funds) compared to other services, i don't want to invest amounts there and enter a sort of sous-vide frog ecosystem lock-in to keep fees low (and that's just for now, with worse service). I want to be able to independently switch to get the best deal.

Neon free now offers a more capillar free ATM service if you don't pull cash more than twice a month.

Neon is new and might increase fees at some point as well, but I'm not locked in because of some investment vs fees deal so i can transfer the bank at any time.
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  #32  
Old 14.04.2021, 12:18
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Re: PostFinance upping their fees

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collect interest? That's a novel idea

https://www.moneyland.ch might help you get some ideas.

Inactive money will not get much interest in the current situation. If you want a regulated free banking option without a card and run with Twint then CSX might be an option.

Already know about moneyland. That's how I found the Crédit Agricole. Just wondering if anyone here is banking there and can recommend em?


As for CSX and co., not enthusiastic about banking via my mobile only collecting 0%. Bad enough that one has to do ebanking these days. No way I'm going to get an account where a magnify glass is required to read the balance. On top of that I don't fully trust android either where any other app has the potential to collect data. At least on a desktop one can use a secure browser.
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  #33  
Old 14.04.2021, 12:19
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Re: PostFinance upping their fees

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Neon free now offers a more capillar free ATM service if you don't pull cash more than twice a month.
Cash? I think we became Sweden (in the sense of electronic payments) during the pandemic and few people noticed During the time restaurants and bars opened during Sep-Nov 2020 they became much friendlier to payment with cards.
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  #34  
Old 14.04.2021, 12:26
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Re: PostFinance upping their fees

What never ceases to amaze me, is that a large number of expats here seem to be making between 120k-250k per year and yet they are bitching about 60 chf/year in bank fees
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Old 14.04.2021, 12:31
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Re: PostFinance upping their fees

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What never ceases to amaze me, is that a large number of expats here seem to be making between 120k-250k per year and yet they are bitching about 60 chf/year in bank fees
80 for family pack with credit cards

Certainly, when you compare to the 500-600 CHF night out for dinner, it's nothing (10% for me poor).
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  #36  
Old 14.04.2021, 12:35
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Re: PostFinance upping their fees

So what to do with any banking costs? There’s nothing you can do that will significantly save you money or worth time. Juggling between different institutions? Is that proverbial “CHF60” worth complaints? You need account for your incoming salary payment and other card transactions. Any other options?

If you feel bad about the fees start investing your money in some assets to beat the bank miserable interests, inflation and start feeling good about your money again. Time to take things in one’s own hands as banks won’t solve your financial problems the way you could if you take some initiative and study the markets.
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  #37  
Old 14.04.2021, 12:38
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Re: PostFinance upping their fees

I am sticking with PF (for now).

I am super annoyed that they included "free" withdrawals with any bank in Switzerland or abroad to the most expensive package while right now it was basically free.

I never go to the post office to withdraw money and there is no Postomat around where I live. Good thing I only need to withdraw a small amount once a month or so.
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  #38  
Old 14.04.2021, 12:39
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Re: PostFinance upping their fees

CSX, once set up on your phone, is accessible in a desktop browser. I have a CSX account and have used it on my PC.

But it's still zero % or thereabouts. And I will never draw cash on it with the card.
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  #39  
Old 14.04.2021, 12:43
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Re: PostFinance upping their fees

This website provides excellent insight on bank accounts:

https://thepoorswiss.com/best-swiss-bank/
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Old 14.04.2021, 12:51
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Re: PostFinance upping their fees

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What never ceases to amaze me, is that a large number of expats here seem to be making between 120k-250k per year and yet they are bitching about 60 chf/year in bank fees
Lots of expats earn nowhere near that amount and many are also retired. Also... even without making the assumptions about who is 'wealthy' or not, people can complain about what the **** they like.
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