Just found a new provider: https://www.kasparund.ch/
(Cannot find FR/EN version of it)
I did find some information on MoneyToday (Das Wundertüten-FinTech Kaspar& ist gestartet | MoneyToday).
They offer a bank account (seems be at Hypothekarbank Lenzburg, like neon), a debit card and a securities account.
- interbank exchange rates
- no account fees
- if invested in securities, all in fee capped at 0.85% p.a., no additional fees
- your payments will be automatically rounded up and will be transferred to a savings account
What are your toughts? Are you already using it, what are your experience?
Will they be able to cover their costs just with 0.85% p.a.? What kind of investments are available?
That sounds super expensive, if it’s a custody fee. E.g. Yuh is much better.
All-in-one is what they’re saying:
“Bei uns umfasst die Jahresgebühr alle Kosten, die mit Deinen Anlagen verbunden sind. Flat, ohne Produktkosten oder andere versteckte Dinge.”
If they’re using Index funds and ETFs as their founder claims, these investment funds will most probably have different expensive ratios. That means that Kasper&'s own share must be variable, depending on you investment strategy. That’s anything but “transparent” as he claims in the same interview.
Let’s just say it’s not for me.
With you, a stock/ETF transaction can cost the average investor up to 1.45%: 0.5% for trading + 0.95% FX for currency conversion from CHF to USD (+ hidden fees and taxes). But I’d still rather pay these one-time costs for the low-cost VT ETF available than 0.85% a year.
With 130’000 CHF invested, their fee is CHF 1’000 a year. I think I am not the only one here who would an invitation to an apero riche once a year for this price.
On the other hand, if you don’t have a penny, it’s probably as cool as neon to get an account and a Mastercard.