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  #41  
Old 02.06.2021, 22:47
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

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Surely the 0.75% is an annual amount calculated daily, rather than 0.75% a month.
From I can read: 0.75% on an annualised basis, calculated daily and charged monthly.
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  #42  
Old 02.06.2021, 22:47
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

Blick writes that PostFinance wants customers to withdraw their funds so that the bank will shrink in size and it will no longer be considered "system relevant". See this excerpt (translated):

"Many customers are unlikely to put up with (negative interest) and will withdraw their money. This is entirely in the interests of Postfinance: experts assume that this is not only accepted, but desired.

The goal: The Swiss Post's financial institution hopes that after this shrinking route it will no longer be considered systemically relevant - and will have to build up equity capital to a lesser extent. System relevance is defined by the Swiss National Bank in terms of position in payment traffic, market share, size, risk profile and interconnectedness."

https://www.blick.ch/wirtschaft/stra...d16552397.html
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  #43  
Old 03.06.2021, 09:12
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

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From I can read: 0.75% on an annualised basis, calculated daily and charged monthly.
It 100% is per annum. If it were on a monthly basis it would almost be breaking the legal ceiling on interest that can be charged on debt. All it is doing is aligning the client with the SNB rate the institution pays.
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  #44  
Old 03.06.2021, 10:23
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

I really don't understand the Swiss bank logic:

Years ago when I had less than 10k, UBS charged me management fee because it's "low asset amount account"

Now they also charge the +100k because it's too much asset?
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  #45  
Old 03.06.2021, 11:54
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

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I really don't understand the Swiss bank logic:

Years ago when I had less than 10k, UBS charged me management fee because it's "low asset amount account"

Now they also charge the +100k because it's too much asset?
And what was the SNB rate 10 years ago? All they are doing is passing on the negative rate that they themselves are being charged. The longer the negative rate environment lasts the lower the limit for being charged will become.
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  #46  
Old 03.06.2021, 12:18
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

Perhaps it's time to get a bigger mattress.
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  #47  
Old 03.06.2021, 17:32
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

No way robBob, I can't afford a 2nd maitresse.
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  #48  
Old 03.06.2021, 22:33
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

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Again would you really take the capital risk (break up, death etc) by putting CHF 300k in a partner‘s name to avoid paying negative interest?
For years my salary was paid to my wife's account which was held in her name only :-)

At PostFinance we have a joint account. PostFinance advised us to open another "relationship", which for them means not another joint account, but an account just for one of us. Therefore, the thresholds will be applied separately on these different customer "relationships". So we opened another account in my wife's name. Just in case something happened to me, she would carry on without having to beg anybody for her money.
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  #49  
Old 04.06.2021, 08:46
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

But aren't you charged 5 chf / month / relationship?
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  #50  
Old 15.06.2021, 08:00
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

So how's the negative interest escape going for y'all?

PS, besides the listed apps, I see there's also Yuh

https://www.yuh.com/en
https://library.yuh.com/shared-image...information-en

Same terms as PF (> 100k 0.75%), you could spread your money there too. It's closer to home, to say so (PF + Swissqoute).

I didn't know about Yuh so I went with CSX since Neon uses some poor 3rd party ID verification that can't verify my ID (well, CSX seems to use the same one too but I went into a CS location and they made an account for me, I even got a free pen! I'll sell this for like CHF 5 in a few months!).

CSX charges > 100k 0.1% btw.
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  #51  
Old 23.06.2021, 10:31
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

Limit is 500k at Neon.

I got my gf to open one, the problem now is that you can't get more than 50k out of the UBS savings account (or pay a 0.5% fee).

With Postfinance, it was easy to cancel such penaltys last year but with UBS she is waiting for the boss to call her back...

I think the best solution for those who want a "hard" bank are cantonal banks or Raiffeisen.
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  #52  
Old 23.06.2021, 11:11
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

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I got my gf to open one, the problem now is that you can't get more than 50k out of the UBS savings account (or pay a 0.5% fee).

With Postfinance, it was easy to cancel such penaltys last year but with UBS she is waiting for the boss to call her back...
How are you getting the penalty waived? Just asking?
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  #53  
Old 23.06.2021, 12:22
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

With Postfinance, I called.
I let you know how it works for UBS
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  #54  
Old 29.06.2021, 22:09
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Re: PostFinance will charge 0.75% monthly for all assets over 100k

So UBS agreed to a withdrawal of 100k instead of 50k
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