Has anyone closed an account at Swissquote? I haven’t found any information on their site and I’d like to know how to proceed. I know only that it costs 2chf to take out all my money.
Money? Don’t sell your assets if you want to move to another broker. That will just cause fees and maybe trigger some taxes.
Nah. I sold the “rubbish” I’ve bought…
Hum, na Tja… in 2014 I thought about closing my Swissquote account. At the time, I also did not find this information… So, I wrote their support and got this reply back. Now that CT introduced a “passive investor fee” I am reconsidering Swissquote as an option…
"Mit Bedauern haben wir Ihren Wunsch, das Konto bei uns
aufzulösen, zur Kenntnis genommen.
Bitte senden Sie uns einen von Ihnen unterschriebenen
Brief, in welchem Sie den Auftrag zur Kontoauflösung an
folgende Adresse erteilen:
Swissquote Bank AG
Ch. de la Crétaux 33
Case Postale 319
CH-1196 Gland
Bitte vermerken Sie auf dem Saldierungsschreiben die
Adresse der Bank sowie Konto- und Depotnummer, falls
Vermögenswerte transferiert werden müssen.
Sie haben auch die Möglichkeit, die Vermögenswerte zu
transferieren und das Konto weiterhin bestehen zu lassen.
Falls Sie keine Wertpapiere mehr im Depot halten, führen
wir Ihr Konto kostenlos weiter. Sie können das Konto zu
einem späteren Zeitpunkt auch wieder aktiv nutzen.
Da uns das Kundenfeedback sehr wichtig ist, sind wir für
eine kurze Schilderung der Saldierungsgründe sehr dankbar.
Wir hoffen, Ihnen mit diesen Angaben gedient zu haben.
Sollten Sie noch Fragen haben, so bitten wir Sie, unser
Customer Care Center unter der Nummer 0848 25 88 88
anzurufen.
Unsere Mitarbeiter stehen Ihnen von Montag bis Freitag
08:00 - 22:00 gerne zur Verfügung.
Freundliche Grüsse
Swissquote Bank AG
"
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Swissquote charges 50 CHF per position for transferring assets
Thanks for the forum here, I was getting aware of other possibilities than Swissquote - like IB. They are even less expensive than Swissquote. On the other hand, maybe it is my age close to 50, I do like the thought that my investments are in a “Swiss bank”. But maybe this is kinda old fashion behavior…
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It’s not. What happens when something goes horribly wrong? How are you gonna sue IB? They aren’t even on the same continent.
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In a similar way as you would sue Swissquote? Maybe your lawyer and translations will be a more expensive because they need to know US law…
Having been in legal conundrum within and outside of Switzerland, I would say that it does make a huge difference.
I am personally happy with SQ. I pay 200 per year to have 500k stored there. I pay less than 10 CHF per transaction to buy ETFs. I pay an extra 100 CHF for an official fiscal report because I am lazy. That’s all and they have a tremendous support.
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I‘m also really happy at swissquote with my 100k+ and its steadily growing. I like the thought having my money/assets inside switzerland. You pay the „premium price“ for this „safty“.
I‘m fine with it and its not much, lets be real.
Edit: I‘ve got a relationship with swissquote.
Done, sorry I‘m usualy only on my blog or youtube channelr or on facebook, there its basicly clear I‘m working with them, since I always say it in every video I mention them. I‘ve edited it 
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Please make sure to also disclose if you have a paid relationship with swissquote.
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Write a letter saying you want to close your account, tell them what IBAN to send money to, send it. Registered mail is optional.
Source: did this myself.
I don’t have a paid relationship with Swissquote.
My Swissquote account is now closed. They charged me 20 CHF for closing it. Also, I got no notification form them that they did it or that they would do it. My access was just no longer valid.
Odd. They did it for free for me (account was empty), and I got a letter including statements and records for the past year.
I recently closed my SQ relationship by transferring my positions for 50.- per position in the respective currency (CHF + VAT) and cash (CHF 2.- and USD 10.-). Then I simply sent them a closing message online. No additional fees were charged, however the whole transfer was pricey enough.
The FOP transfer of positions took approx. 6 days.
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But that was still cheaper than selling the shares and transferring cash, no?
Definitely, considering the recent downturn.
Only if you expected a quick recovery while you were holding cash… Otherwise you don’t lose “value” by selling your things.
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