Hello, i have an account at SGKB and one at neon. Neon is used for the ETF and SGKB is used until now for regular banking stuff. But i am so annoyed of their changes that i want to move to another bank. But i dont know which one to chose. I read about WIR that its cheap but i dont know if its recommended because many wrote about the bad service.
What i need is a bank (dont care if its a neo-bank or a regular bank) where:
i can send money from CHF→EUR (i have a Consorsbank account too, currency EUR, depot and regular bank account) about 10-20 times a year
send money with credit card (in switzerland only is ok, better would be world wide) when i want to buy something online
get money from ATM about 40-50 times a year
Twint would be nice but not a requirement
Most important: the price. Thats why i think WIR is not the best choice for me because i can only get 24 times a year money from an ATM.
Hope thats the correct place to ask this question. Otherwise, feel free to move it.
Withdrawing cash from ATMs is very expensive for banks, unless the ATM belongs to the bank. From this perspective, this limits you to the banks that have an ATM in your village. I don’t know what that is in your case, but often it is a cantonal bank, a Raiffeisen bank, or Postfinance.
I dont like it to have so much money with me. Usually i go once a week to the ATM when i visit the saturday market in my town and get 100 CHF. I also dont like it to counter how often i was at an ATM. Is there any hint in the app so i can see how often i was at an ATM?
So if the ATM is a cantonal one you can open an account to another cantonal bank and withdraw for free at any cantonal bank ATM. Maybe double check with the cantonal bank you are looking for but here is an example :
I use different ATM here but as i noticed, seems like the cantonal banks are in general a bad idea when it comes to costs. Thats also a reason why i thought about something like WIR. I mean… guess i could store a bit of money at my flat and then only go 20 times a year to an ATM.
The cashier at Migros supermarket, Denner, Migrol and Migrolino can be used as ATM.
What are you talking about ? monthly cost ? Usually few CHF per month for a card and accounts. Seems reasonable if you want to benefit for the countrywide cantonal banks network of ATM.
An alternative would be for you to change your habits and withdraw CHF 250/200 every two weeks insteand of CHF 100/week.
Given the amounts involved, the risk of loss/theft seems very limited.
Cost of card, cost of transfers, no interest, etc.
As example, when i buy something at ubereats with credit card from SGKB, it will cost me about 3 CHF or so.
AFAIK they have high cost when i transfer from CHF→EUR. And thats what i regularly do.
I would use Wise or Revolut for this. For a all-in-one solution, neobanks are probably cheaper than legacy ones for this. Neon should be fine in my understanding unless they have down periods that don’t allow to meet your needs?
I don’t understand what you mean. Is it buying stuff online using a credit card? If so, I would use a free credit card that suits your needs. Good ones inclue de Cumulus Visa, Certo One! or Cashback by Swisscard.
In my understanding, the ATM withdrawal and the forex (CHF to EUR) transactions needs are best treated by different banks. ATM withdrawals would have me go to a legacy bank. Forex through my bank would make me look rather at neobanks.
Among the good banking solutions around, ZKB might be worth looking into. They have a free package including withdrawals at their ATMs, which should expand to other cantonal banks’ ATMs (this would have to be checked, best to ask them directly before opening an account).
For travelers needing various travel insurances, their more expensive packages might be worth a look.
I have no idea about the quality of their service.
For more flexibility regarding ATM withdrawals, some banks might have a number of free withdrawals at other ATMs including in their packages. For example, my Raiffeisen doesn’t charge for the first 12 withdrawals at non-Raiffeisen ATMs for their members (have to buy a share that can be sold back for CHF 200).
And cancel your credit card with SGKB but keep your regular free account for the ATM network and use the existing Neon for everything else? It seems to me that you want to have everything at one bank. But I don’t think that will be possible with your requirements.
I would choose the best option from two banks:
A free account with a cantonal bank for your salary and access to the ATM network.
A neon bank for Mastercard/Visa payments in foreign currencies (Neon, Revolut etc.)
sounds reasonable. i already have a neon bank account (currently only for my ETF) and will check their conditions regarding credit card etc. - maybe that already fits my needs.
The normal conditions at UBS for conversion to EUR for bank transfers is a 1.7% markup. It’s possible to get this down to 0.43% with key4 FX Premium but that costs CHF 10 per month, which may or may not be worth it. It would be possible to use Wise for these conversions/transfers, of course, but it would be less convenient, especially for frequent transactions.
I actually do use UBS key4 but my international transfers are infrequent, so I don’t mind using Wise for those.
neon transfers are through Wise, which is integrated in the app.
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