CS, UBS vs the rest

I’m contemplating to switch my bank accounts from the bulge bracket banks, after I’ve seen so many cheap and good alternatives.

The Kantonalbanks even waived the regular fees! They seem to be a good choice too.

Can you give me a good reason to stay with CS and UBS? If not, should I go with Kantonalbank or Fintech banks such as Yuh? Which one do you prefer?

Thanks in advance.

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Was discussed quite in details in this forum.

My choice is Raiffeisen. I bought 1k worth of their units that will bring some income and I have an account at a traditional bank for free.

Another popular choice is BCV. Free individual account if you have >10k balance, for a free family package you need >15k balance.

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CS has the most attractive offer with CSX, even among the Fintech options, IMHO. It’s free and unlike with Fintech banks you can still use the regular E-Banking. Lots of Fintech options lack important features such as standing orders or E-Bill. CSX has everything.

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Banking is very basic, investing is very expensive. I use it only for free EUR account in my name. With an option to have a USD account in my name if I ever need it.

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Thank you.

I’m just looking for a bank with 0 fees. Right now, I pay like 300 CHF for UBS with credit cards a year. That’s not acceptable.

I just need a free bank account where I can receive salary and transfer money with ease. I don’t need other fancy features.

I live around Zurich so I prefer a bank from the German speaking region. I’ve never heard of BCV, that’s Welschschweiz I guess.

:person_facepalming:t2:

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Thank you! I checked their website. maybe I’m trippin’, but it’s hard to find the necessary info I’m looking for, like fees and stuff.

I’m really just looking for a simple bank with 0 fees. I don’t use those fancy fintech stuff. I don’t plan to trade anything with the bank. I just want to receive salary and use credit card.

What is so good about CSX? Kantonalbank is free too. So, I’m not sure which one to go with.

That’s my facial expression too when I discovered Mustachianpost. What was I doing for the past few years…

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As I said with the Fintech options you often lack very basic features. No web based E-Banking, only app. No standing orders, or no E-Bill. I pay almost everything with E-Bill and I have quite a few standing orders. I also don’t need much features but at least those few features I need. CSX provides all of that and for free. Even the debit card is free.

There aren’t many Kantonalbanks with free options. I’m only aware of SZKB which provides a free package when you have >= 25k CHF assets with them. With most others you pay a small fee even if it’s 2 CHF per month and then usually around 30-60 CHF per year for the debit card. Furthermore, personally I don’t want to do business with a government bank, but that might not be important for you.

For that, I use Swissquote. You can open your currency accounts as many as you want for free. To exchange currency, you pay 0.95% per transaction just like Yuh (from SQ anyway), I believe. There is no negative interest unless you have a lot of money on your cash account.

Why?
The full package including a regular Mastercard is 8-10chf/month.

I’m not sure. When I opened the account with gold credit card options, the bank charges me like 25 CHF or so per month. It’s full package. It’s crazy expensive.

Welcome to the mustachian forum. For your information, I just got over 200 CHF Cashback from AMEX credit card, which I discovered thanks to this forum a bit more than 1 year ago.

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Isn’t that your answer?

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That’s exactly what I saw. SZKB looks good. However, it doesn’t seem to include free credit card. What is not good dealing with Kantonalbanks? Have you had bad experience before? They don’t exchange info with your tax authority, just saying :slight_smile:

Do you get free credit cards with CSX?

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Yea, I’m happy to have found this forum. There are a lot of ways to save money and make money that I don’t know of. Great exchange!

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Maybe, I forgot the conditions. It was many years ago.

Yes, they only provide an old fashioned Maestro card in the package. Credit Card is around 100 CHF per year AFAIK and it’s anyway from Viseca so you could also just use one of the free Credit Card alternatives (e.g. Swisscard Cashback, Coop Supercard, Migros Cumulus, …)

No, they are fine. I just don’t believe that the government should compete in markets against private companies, when private companies are capable of covering required services on their own.

You get a free Mastercard Debit which can be used like a credit card but as the name indicates it’s debit. But it can be used for online shopping etc. and there are only very few cases where an actual credit card is required. E.g. when renting a car.

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One thing, I want to add is that UBS e-banking app is by far the worst I’ve ever used. It’s slow, sluggish and full of errors.

I’ve used some private bank, postfinance and Kantonalbank e-banking apps. They are way faster and simple to work with.

A bit off-topic, but while you are optimising, I’d also switch from Swissquote to another broker.

I’ve been using Swissquote for a long time as well, but switched to Interactive Brokers recently. You don’t pay any custody fees with Interactive Brokers and the transaction costs are way lower than with Swissquote.

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