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Old 25.06.2021, 00:03
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Avoiding Negative Interest Rate: Which Bank?

Hi,

So, PostFinance has again come hunting for me, for the fourth time since I opened my initial, free of charge, zero-interest account with them:

1. They introduced account fees of CHF 5 per month
2. They started charging negative interest for balances above 250K
3. They increased the account fee to a minimum of 12 CHF per month
4. They will reduce the negative interest threshold to 100K

I really feel betrayed, or baited :-|

Do you have any suggestion for the best (cheapest + most reliable + hopefully not likely to introduce NIR) banks to park some money? I have seen Neon, AKB, and Migros Bank? Is Revolut an option? What else?

Many thanks
Best
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  #2  
Old 25.06.2021, 10:56
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Re: Avoiding Negative Interest Rate: Which Bank?

Here's a good safe solution: https://youtu.be/5CM1LNBkfM0
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  #3  
Old 25.06.2021, 13:29
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Re: Avoiding Negative Interest Rate: Which Bank?

Each bank will have their limits, one way or another.
You can avoid them by opening separate accounts at different banks, and spreading your money across them.
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Old 25.06.2021, 16:31
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Re: Avoiding Negative Interest Rate: Which Bank?

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Hi,

Do you have any suggestion for the best (cheapest + most reliable + hopefully not likely to introduce NIR) banks to park some money? I have seen Neon, AKB, and Migros Bank? Is Revolut an option? What else?
Migros Bank has one million no nir. The rest of charges are minimal but their service sucks. It takes ages to open an account, their ebanking is utter crap, the support is incompetent. Will do, if you only want to park money.

CS has a high nir limit, you can also talk to Raiffeisen.

I would stay away from Neon&co, the amount of money you can move per day is limited at 20 or 30k.
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Old 25.06.2021, 17:15
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Re: Avoiding Negative Interest Rate: Which Bank?

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Migros Bank has one million no nir. The rest of charges are minimal but their service sucks. It takes ages to open an account, their ebanking is utter crap, the support is incompetent. Will do, if you only want to park money.

CS has a high nir limit, you can also talk to Raiffeisen.

I would stay away from Neon&co, the amount of money you can move per day is limited at 20 or 30k.
Many thanks. That's really useful. Any idea about Revolut?
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Old 25.06.2021, 19:51
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Re: Avoiding Negative Interest Rate: Which Bank?

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Many thanks. That's really useful. Any idea about Revolut?
Revolut had some issues with blocking accounts on a random basis. I would stay away from them. There are better options for payments and I wouldn't trust them with a larger sum of money.
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Old 25.06.2021, 20:39
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Re: Avoiding Negative Interest Rate: Which Bank?

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Many thanks. That's really useful. Any idea about Revolut?
Don't put serious money there. Accounts get frozen and it's a pita to get your money back and likely very stressful.
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Old 25.06.2021, 20:40
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Re: Avoiding Negative Interest Rate: Which Bank?

CSX, Zak re decent options
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Old 25.06.2021, 20:51
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Re: Avoiding Negative Interest Rate: Which Bank?

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CSX, Zak re decent options
Thanks. ZAK is Cler, right?

Are Cler and Migros Bank also insured like "normal" banks (the 100K thing)?
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Old 26.06.2021, 15:03
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Re: Avoiding Negative Interest Rate: Which Bank?

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Thanks. ZAK is Cler, right?

Are Cler and Migros Bank also insured like "normal" banks (the 100K thing)?
I would have thought so otherwise they wouldn't be allowed to call themselves banks.
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Old 27.06.2021, 17:39
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Re: Avoiding Negative Interest Rate: Which Bank?

Also see this post.
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Old 28.06.2021, 08:54
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Re: Avoiding Negative Interest Rate: Which Bank?

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Also see this post.
Many thanks. Actually, I saw Appenzeller Kantonal Bank has an interesting offer and a very high (if at all) NIR threshold. Do I have to go to Appenzell to open an account, or there is an online way?

And do you know about NIR situation in ZKB? They say there is no fixed threshold, but each account will be assessed individually. Does that mean they can start charging without letting me know at all, or they will give me some time to move my money out if I want?

Thanks a lot
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Old 28.06.2021, 09:14
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Re: Avoiding Negative Interest Rate: Which Bank?

According to Moneyland.ch
https://www.moneyland.ch/de/savingsaccount/list
the bank offering the best rate is CRÉDIT AGRICOLE NEXT BANK
https://www.ca-nextbank.ch/en/en
with this account
https://www.moneyland.ch/de/credit-a...arkonto/energy
However, there are limitations, like a frozen account for 1st year, and I know nothing about the bank except that its based out of France.
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Old 28.06.2021, 12:06
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Re: Avoiding Negative Interest Rate: Which Bank?

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Many thanks. Actually, I saw Appenzeller Kantonal Bank has an interesting offer and a very high (if at all) NIR threshold. Do I have to go to Appenzell to open an account, or there is an online way?

And do you know about NIR situation in ZKB? They say there is no fixed threshold, but each account will be assessed individually. Does that mean they can start charging without letting me know at all, or they will give me some time to move my money out if I want?

Thanks a lot
Dont' ask me, ask them.
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Old 28.06.2021, 13:07
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Re: Avoiding Negative Interest Rate: Which Bank?

Been with BKB for many years and no complaints.
Instead of going with digital only banks, why not stay with the established names?
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Old 28.06.2021, 17:00
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Re: Avoiding Negative Interest Rate: Which Bank?

At UBS there are no limits on accounts in USD and if you have an account in EUR that’s additional 250K (converted).
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Old 28.06.2021, 18:26
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Re: Avoiding Negative Interest Rate: Which Bank?

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At UBS there are no limits on accounts in USD and if you have an account in EUR that’s additional 250K (converted).
And there's no interest either.
Whereas an account state side will record interest compounded daily!
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Old 28.06.2021, 20:29
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Re: Avoiding Negative Interest Rate: Which Bank?

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And there's no interest either.
Whereas an account state side will record interest compounded daily!
And UBS will fleece you (jamon8) using the exchange rate.
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Old 28.06.2021, 20:47
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Re: Avoiding Negative Interest Rate: Which Bank?

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Been with BKB for many years and no complaints.
Instead of going with digital only banks, why not stay with the established names?
Price, Quality of App?

Pretty shocking to have to pay to just have a current account and a debit card to be honest, and that applies to every traditional bank, except Migros IIRC.
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Old 28.06.2021, 20:51
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Re: Avoiding Negative Interest Rate: Which Bank?

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Price, Quality of App?

Pretty shocking to have to pay to just have a current account and a debit card to be honest, and that applies to every traditional bank, except Migros IIRC.
I bank with Migros. 3 CHF a month. But I'm a basic, no-frills customer with nowhere near the amount to get charged negative interest. So they're fine for me.
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