Free bank account in a cantonal bank that could be fully managed online

Hello guys,
I am looking for any of the Swiss cantonal bank that offers a free bank account fully manageable online, without need of going phisically even to open it.
any suggestion is very welcome.

Thanks

I found that the Banque Cantonale fu Jura is offering a package with 2 private accounts, 4 spare accounts and 2 third pillar accounts fully free of charge.

any experience here in folk?

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Try BCF - Banque cantonale de Fribourg
(édit : here with a link : Paquets pour privés | BCF)

Thanks for the suggestions. I just asked them additional info since, from what is written online, you must go physically there when you open an account.

Do you confirm this?

Another question: how is the software system provides by the BCF? Comparable to CS and UBS or lower quality, like for example Migros Bank?

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It is the Finnova Online Banking software that I find rather simple and pleasant to use. For me comparable to what CSX offers, less complex than the ebanking of UBS in any case. To my knowledge, all cantonal banks use this system (with more or less visual adaptations).

Migros Bank uses the same software in offline mode, but with double authentication by two devices, etc.

As a new customer, on-site identification may be required. However, upon request, a remote identification should also be feasible (I think).

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Exactly, I live there and have this type of account (called ePack), 0.- CHF fee since more than 5 years now ! Best solution I know, and this comes with a credit card as well ! (Mastercard debit)

You’d need to go in person to create your first account though.

Very interesting. I need definitely to call them and see how can we overcame the logistic topic. Worst case scenario I LL try to go once there.

Why are all the cantonal bank sticking to physical authentication only?!

Interesting. I know the Migros software and it is not that bad at all.

Only one uestion: I have seen that the ePack free is not having any free credit card but " just " up to 2 debit cards.

Is this what were mentioning?

Just out of curiosity, why only choose cantonal banks?
Neon, Zak and Raiffeisen have good packages.

I have already.

It is more in the sense of diversifying risk.

All private banks (CS, UBS, neon, clear, Migros,…) Are relaying on 100k protection from the confederation, but all cantonal banks are relying on unlimited risk coverage from each canton.

Having this in mind, looking at what it is happening with CS, I would like to split a bit the risk. yet, if something happens to CS, I am not that sure that the confederation, looking at the size of CS, could fully cover it and , in the crazy case another bank would collapse because too much compromised with CS (bank Migros for example, for what I know…but pleas correct me if I am wrong), I am worry that it will not be covered anymore.

On the other hand, I also do not want to rely on only one canton: imagine one cantonal bank goes belly up, the canton will need to cover it. Finally who is the canton? Canton is nothing but the people living in that canton, that most probably are also the majority of the customer of the same cantonal bank. It could then be a viscous circle of unsolvancy.

I am eventually a bit too much pessimistic, but, in these days you never know…

At the same time, I wanted to do it without having additional costs and, possibly, the burden of crossing half of Switzerland to go to physically open an account.

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I have opened accounts with cantonal banks via paper mail. To do so, they need a verified copy of an ID. Cantonal banks have an agreement that any cantonal bank will make a verified copy of an ID for free, if it is for another cantonal bank.

I would suggest filling out the form to open an account on the bank’s website. Then, in the notes field, enter that “You want to open the account via mail, using a verified copy of an ID.”

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Very good suggestion. I LL try to contact them tomorrow and eventually get the I’d verified in my local canton. Thanks a lot

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The 100k protection is only for money. I don’t understand why people let so much money in a bank account instead of investing in assets.

If you open a new bank account and transfer a big sum (even from another swiss bank), it’s quite likely that you will need to prove where the money is coming from.

Some cantonal banks don’t have state guarantees:

Keine Staatsgarantie hat die Waadtländische Kantonalbank (französisch Banque Cantonale Vaudoise) und die Berner Kantonalbank (französisch Banque cantonale bernoise), während die Genfer Kantonalbank (französisch Banque Cantonale de Genève) mit einer beschränkten Staatsgarantie operiert

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Not all do. The BCV (Vaud/Waadt) doesn’t have a state guarantee for example. It has to be checked individually.

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If you need an account for parking money only (as opposed to paying bills, receiving a salary, etc.), then get a savings account only. These tend to be (and stay) free at most banks. The main difference in savings accounts offerings is how much can be withdrawn without notice and the length of the notice period.

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I read Fribourg is having it.

Any info on the Jura?

I would like to have 100k sitting in one account. But I don’t…

I have much less, but what I have I would like to be sure I will have :slight_smile:

A bit too conservative…but you never know…

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Agree. But with today interests at 0% in saving account and they restrictions they have over a normal account I prather prefer a normal one…it is very personal…

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