That depends on your ability and willigness to take risks.
Offtopic:
Currently the margin rates for CHF are 1.5%, that means that I pay around CHF 300 per year for a CHF 20’000 loan (which is roughly the amount of my tax bill). It takes me around 4-5 months to pay back the loan, so in the end I paid less than CHF 100 this year and the dividends alone from having this CHF 20’000 invested more than covered the interest I paid.
As I only take margin loans up to around 10% of the invested assets, the risk for getting a margin call is extremly low.
Hello,
Today I have been contacting both Jura and Fribourg cantonal banks and they have both told me that to open an account by them you need at least the first time to go in any of their branches in person.
Later on you can use the system you have been mentioning about going to a third cantonal bank. They mentioned that, as an example you can do this when you have a new passport and you need to change the document you provided them.
Let’s see.if I will have once to go to the Jura.
This creates a bit of a blockage in going directly for this option, yet, I am not stressed in doing it tomorrow…
Probably not the kind of answers you were expecting but Jura is beautiful this time of the year. If you are planning holidays of any kind in the near term and like fairy-like nature, you could do worse than killing two birds with one stone by spending some time there.
To continue with an offtopic: have anyone thought about Canton Jura as a place for FIRE? Taxes are high, but if your taxable income is low and other expenses are low, might be worth checking.
Not a bad idea. Let’s see if I can organize an hike in the region. In autumn Jura should be pretty nice.
On the banking topic, it is ist a pity that they are not following Vaud example. It seems that they do not necessarily want more customers, yet prefer to have “better” ones. Having people to go in person my help for a first selection. I see their point
BCV is not perfect neither. I once asked for a very basic service and the lady on the phone told me that the service can only be provided in person at a counter.
I don’t live very far from Vaud, but I also cannot take day off to deal with things other banks can do remotely…
For me, the cantonal banks work well, but it is better not to live too far away because all the processes are not yet digitalized and a visit is sometimes still necessary…
For what it’s worth, info from the customer support regarding e-banking:
Citation
Das E-Banking rollen wir schrittweise ab Ende 2022 bis Anfang 2023 aus. Wir können nicht sagen, wann du genau das Update auf die neue Version erhältst.
Not all of them! ZKB uses a mix of things, but there is indeed Finnova in that mix. BCV uses their own propietary software. Their e-banking and app are “nice enough”. Not beautiful but with all the expected
features and easy to understand.
Again, not all of them are. BCV for example is not legally protected by the canton although as a majority stock holder it would be surprising they don’t chip in.
In the previous week’s, doing a routine tour among the various cantonal banks, I have been discovering that the Zuger Kantonalbank is offering a fee bank account fully manageable online. Here the link:
Any one here having any feedback? Did you test it already?
As previously discussed for other cantonal banks? Is the Kanton Zug proving full coverage of the cash in its bank or foe this cantonal bank only the federal 100k coverage applies?
Just a small and irrelevant heads-up: I recently asked myself whether there are actually 26 cantonal banks as I was on the quest you mentioned. There are actually just 24 cantonal banks: Solothurner KB and Appenzeller Ausserrhoden KB went bust in the 1990s.
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