Maybe it is a stupid question but I have never experienced changing banks so far. So here is my situation: As of now I have a bank account with credit suisse and it has some accrued interests which are usually paid at the end of the year. However, I believe it is in my financial interest to close this account and go with Neon, Zak or Raffeisen.
The question is thus the following: when asking for closing the bank account, is credit suisse going to redeem these accrued interests? Or should I wait for January 2023 until it is paid?
Thank you for your help!
Thank you for your quick reply! I appreciate it.
What is your interest rate?
If you ask CS to close your account, they might give you CHF 3 of accrued interests but charge you CHF 50 for closing fees (for example)
I remember that when I closed my UBS account. I transferred money away and then asked the bank to close the account. They were not able to take any closing fee on an empty account.
Well I still benefit from “viva student” plan which is 0.5% (for a saving account under a specific amount).
I am trying to find back the contract to see if I signed up for any closing fees, but anyhow, if it was written in your contract is that even legal not to pay them?
This is not in the contract but in the general terms of the bank.
Always observe the following before closing a bank account:
- Give notice for all current/cash and savings accounts as per your bank terms (usually only above a given threshold). Your bank may charge you a penalty otherwise.
- Wire the money out of your account(s) yourself. Your bank may charge you for the payment if they have to execute it themselves (especially if it is to another bank).
I believe charging a fee for the closure itself is not allowed by Finma, but the two points above are used by banks as proxies.