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-   -   PostFinance upping their fees (https://www.englishforum.ch/finance-banking-taxation/303635-postfinance-upping-their-fees.html)

besmegenis 28.04.2021 23:12

Re: PostFinance upping their fees
 
Quote:

Originally Posted by roegner (Post 3300748)
What? Do you pay if you are below that or if you are above that?

sorry, I fixed my message to be more clear.

https://imgur.com/D474Vsr

IslanderInTheMountains 28.04.2021 23:36

Re: PostFinance upping their fees
 
Quote:

Originally Posted by besmegenis (Post 3300746)
just got a message from UBS about new "deposit charges":)

Pay if above 250k chf and same threshold for eur.

It was announced since January that sometime in the summer they would apply negative rates for deposits above 250k. Previously the threshold was at CHF 2M or € 500k. Apparently the new threshold will affect about 5% of their customers.

I had a discussion the other day with someone who works as a financial advisor at UBS, I was told that the biggest % of that 5%, will either split the amount in different banks or they will persuade them to invest through them. Win for UBS :rolleyes:

besmegenis 29.04.2021 09:02

Re: PostFinance upping their fees
 
probably it is matter of time when 250k becomes 100k and so on :)

Quote:

Originally Posted by IslanderInTheMountains (Post 3300781)
It was announced since January that sometime in the summer they would apply negative rates for deposits above 250k. Previously the threshold was at CHF 2M or € 500k. Apparently the new threshold will affect about 5% of their customers.

I had a discussion the other day with someone who works as a financial advisor at UBS, I was told that the biggest % of that 5%, will either split the amount in different banks or they will persuade them to invest through them. Win for UBS :rolleyes:


basel 12.05.2021 09:52

Re: PostFinance upping their fees
 
Post Finance along with swissquote have launched yuh app this week, here is the pricing list

https://www.yuh.com/en/pricing#pricing-list

I'm thinking of my postfinance e-banking account ( was 0 monthly charge , now 5 or 15 per month ) to this.

Chuff 12.05.2021 10:03

Re: PostFinance upping their fees
 
Quote:

Originally Posted by basel (Post 3305180)
Post Finance along with swissquote have launched yuh app this week, here is the pricing list

https://www.yuh.com/en/pricing#pricing-list

I'm thinking of my postfinance e-banking account ( was 0 monthly charge , now 5 or 15 per month ) to this.

WTF... are they serious? :confused:

Quote:

From 2022, three attractive and tailor-made packages
In 2022, Yuh will offer you three packages: FLIRT, KISS and LOVE. The first one will be free of charge, the others will be available at a friendly price. So you can choose the most advantageous solution according to your needs.
Whoever came up with those names and marketing strategy needs new career direction. :D

Sinking 12.05.2021 10:15

Re: PostFinance upping their fees
 
[QUOTE=Chuff;3305186]WTF... are they serious? :confused:

Apparently.

I will look into it, but this new offer seems limited to payments, saving accounts and trading (compared to Postfinance where they also offer e-investments, funds, etc.).

I guess they are jumping the "neon" and similar digital services wagon.

basel 12.05.2021 10:48

Re: PostFinance upping their fees
 
Quote:

Originally Posted by Sinking (Post 3305188)
I guess they are jumping the "neon" and similar digital services wagon.

yes, that seem to be the intent,

https://www.swissinfo.ch/eng/busines...tunes/46608702

Quote:

The Swiss banking scene is undergoing a transition with the arrival of new home-grown challengers like Neon, Alpian and Yapeal, foreign competitors like Revolut and the launch of new digital services from traditional banks. At the same time, there is a growing trend towards fewer brick-and-mortar bank branches.
I was looking to switch immediately, but with their new pricing schemes in 2022, may be it would be worth to wait and see what is allowed in each package.

lbp_ch 12.05.2021 10:53

Re: PostFinance upping their fees
 
Quote:

Originally Posted by Chuff (Post 3305186)
Whoever came up with those names and marketing strategy needs new career direction. :D

The naming is one thing and might not be appealing to everyone, but I think the offering is interesting. They just kicked it off and a few (essential) things are still missing (like mobile payments with TWINT, ApplePay, GooglePay, etc.) but I like Yuh's All-in-One approach. Some feature that are new to teh Swiss Smartphone Banking landscape, like the multicurrency feature and the possibility to invest in stocks, ETF's and cryptos. The range of available titles to invest in, especially the ETF's, is still limited, but I'm sure this will be extended. I don't think for now I will use Yuh as my main banking relationship, but they have potential and if they do things right going forward and listen to the suggestions of the user community, they can become an important challenger. Not only for young people, but also for "seniors" who might want to start trying cryptos and investing in ETF's with smaller amounts. Investment costs are among the best in the market for small amounts, especially because there are no custody fees. The bank account is with Swissquote and therefore with a bank regulated by Swiss authorities. If someone want to give it a try, you can use my referral code "550me6" during the onboarding process (which by the way is very simple and smooth, 100% online). this will award both of us 500 Swissqoins (equivalent of CHF 5), which is the innovative token that Yuh created for their referral program. It's worth a try. See Yuh!

lbp_ch 12.05.2021 11:00

Re: PostFinance upping their fees
 
Quote:

Originally Posted by basel (Post 3305214)
I was looking to switch immediately, but with their new pricing schemes in 2022, may be it would be worth to wait and see what is allowed in each package.

Well, it's for free and therefore does not hurt to try already and see how the look and feel is. I like it so far, but won't be using all features as of now. For example the multicurrency option is still cheaper with Wise and I'm going to continue using Wise. Yuh charges 0.95% for every currency exchange which is a bit higher than Wise and Revolut, but still cheaper than any conventional Swiss bank. And if you prefer to have your money with a Swiss bank rather than with foreign entities like Wise or Revolut, then Yuh is definitely an option to consider. Trey it out. And if you do, you can happily use my referral code "550me6" when onboarding :msnnerd: 500 Swissqoins (CHF 5) for both ;-)

magic 30.11.2021 12:41

Re: PostFinance upping their fees
 
Got this message when logging into Postfinance today

E-cockpit will no longer be available from 11 February 2022

That is a real shame as it helped me a lot to categorise my payments and invaluable to pull extracts for proof in court as to my finances.

Anyone know if there is a third party plugin or?

Might have to think about switching but reluctant due to all the standing orders etc.

venetian 30.11.2021 15:29

Re: PostFinance upping their fees
 
Years ago I used to do the same analysis by exporting the transaction list into a spreadsheet. When I started to have Postfinance with E-Cockpit it just saved me so much work and it always worked efficiently.
It's a pity they are removing it!

robBob 30.11.2021 17:39

Re: PostFinance upping their fees
 
Quote:

Originally Posted by magic (Post 3369524)
Got this message when logging into Postfinance today

E-cockpit will no longer be available from 11 February 2022

That is a real shame as it helped me a lot to categorise my payments and invaluable to pull extracts for proof in court as to my finances.

Anyone know if there is a third party plugin or?

Might have to think about switching but reluctant due to all the standing orders etc.

No great loss. Assume PF is reducing staff before X-Mass.
However! Give this a try: https://www.gnucash.org/features.phtml#oth-feat

cserdar 02.12.2021 03:05

Re: PostFinance upping their fees
 
I dont know how I did this but I have just realised 3 cheeky deductions over the last 3 months under the name "GUTHABENGEBÜHR" which translates "Credit Fee".

I recall an email saying this would apply to balances over 250K. I mean who would think a balance just over 100K would result me losing 100 CHF!

That's not just a rip-off but in my eyes that's theft! Why the f*** would anyone pay that amount of money to keep their money with them?

I'll be asking for refund which I'm sure they will refuse. Good bye PF or shall I say RIP as most people will probably leave them now.:mad:

Tony Harrison 02.12.2021 13:31

Re: PostFinance upping their fees
 
Quote:

Originally Posted by Squeeeez (Post 3296166)
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.



They must like you better than me! Even with a discount!
(See, if they're accepting YOUR money for free, they have to get even and ask for triple the base rate from us common folks:msnnerd:)

God, absolutely right. Only in need of urgency do I use the printer at home. I'd rather drive 45 minutes to the office rather than face the beast again.

Hate printers. Grr.... :-)

Phil_MCR 02.12.2021 13:51

Re: PostFinance upping their fees
 
Quote:

Originally Posted by Tony Harrison (Post 3370251)
God, absolutely right. Only in need of urgency do I use the printer at home. I'd rather drive 45 minutes to the office rather than face the beast again.

Hate printers. Grr.... :-)

buy a laser printer instead

eyebeebe 02.12.2021 14:41

Re: PostFinance upping their fees
 
Quote:

Originally Posted by cserdar (Post 3370141)
I dont know how I did this but I have just realised 3 cheeky deductions over the last 3 months under the name "GUTHABENGEBÜHR" which translates "Credit Fee".

I recall an email saying this would apply to balances over 250K. I mean who would think a balance just over 100K would result me losing 100 CHF!

That's not just a rip-off but in my eyes that's theft! Why the f*** would anyone pay that amount of money to keep their money with them?

I'll be asking for refund which I'm sure they will refuse. Good bye PF or shall I say RIP as most people will probably leave them now.:mad:

I think we should celebrate being in a country where people with such little understanding of basic economics and business are able to amass significant amounts of cash.

You do realise that central bank rates are negative in Switzerland and have been for quite some time now? Rightly or wrongly PF see you as a big boy/girl and think you should share some of the pain. There are fewer and fewer places to put such a some of money without paying negative interest.

If you don’t need the money short term, ask about a notice account/term deposit. That way you should avoid negative interest.

cserdar 02.12.2021 15:06

Re: PostFinance upping their fees
 
I decided to open an additional account from Neon to send some of the funds there. I guess if you dont exceed 100K you're fine and negative interest free.

Tony Harrison 02.12.2021 15:56

Re: PostFinance upping their fees
 
Quote:

Originally Posted by Phil_MCR (Post 3370256)
buy a laser printer instead

and miss out on the feeling of being truly alive?

But it's a good suggestion actually. I've not looked at them for years, but they're much more affordable now.

robBob 02.12.2021 16:00

Re: PostFinance upping their fees
 
Quote:

Originally Posted by Tony Harrison (Post 3370298)
and miss out on the feeling of being truly alive?

But it's a good suggestion actually. I've not looked at them for years, but they're much more affordable now.

But they are toxic!

Tony Harrison 03.12.2021 14:13

Re: PostFinance upping their fees
 
So the choice is death by blood pressure related issues or by noxious fumes?

https://www.cnet.com/news/laser-prin...st-study-says/

I don't know who to believe, perhaps I'll stick with using the work printer...


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