I did but didn’t check the differences…
According to Moneyland the following is supported:
Zahlungsmethode
eBill, LSV, QR-Rechnung, Vorauszahlung
How does Vorauszahlung work in practice? Can I use it to increase the credit limit by prepaying funds? How long would it take to for a payment to be processed?
My girlfriend has a Migros Cumulus Credit Card, she wanted to use it for when she travels to the US. So she called the customer service to know if the card could be used normally in the US, which they confirmed.
Once in the US she made a couple transactions in stores, but then as soon as she placed an order online the card was blocked and an SMS asked she called the customer service for verification (on a Swiss number). She had to call and verify, but this call costed 15CHF.
Just a heads-up for potential people interested. And then I was wondering, is this normal? Could she call and complain about this, maybe ask for a refund of this 15CHF ? I mean she just warned of her travel, had a positive response and then card fails.
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She could and she should
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I was looking at Cumulus Visa. On their factsheet it says that there are no charges when used abroad. I am skeptical this is the case and I am missing it somewhere else. What is the charge for use outside of Geneva?
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Same question : they say no fees abroad, but maybe the exchange rate contains a premium ? Is the exchange rate as interesting as revolut or neon ?
EDIT : found this (in french sorry) :
«En supprimant les frais de traitement pour les monnaies étrangères, la Banque Migros s’est orientée en fonction des néo-banques en plein développement», explique Benjamin Manz. C’est un net avantage par rapport à la carte existante et en comparaison de la plupart des autres cartes de crédit helvétiques, même si certaines néo-banques demeurent encore plus avantageuses en raison des taux de change plus favorables qu’elles proposent.
Dans les échantillons réalisés par moneyland.ch au sujet des achats en euros en 2022, une majoration de change d’environ 2% à la Banque Migros a été constatée par rapport au taux interbancaire. Ce taux de change n’est pas avantageux. Malgré tout, comme la nouvelle carte renonce à appliquer des frais de traitement, la nouvelle carte de crédit Cumulus s’avère être tout de même moins chère que la plupart des autres cartes de crédit helvétiques.
Interesting to see they are going this direction. But I have heard that the exchange rate is horrible with migros. I’m curious to see how it compares. I do think it would be better than most cc
The numbers I have in mind are:
Around 4% costs (surcharge and / or exchange rate malus) for most bank cards, Cembra and Swisscard Cashback
Around 2% for Migros / ZAK
Around 0.5% for Wise
Around 0% for Neon
Revolut somewhere in between the cheaper solutions
Migros is often seen as a good-enough single-card solution. But you leave money on the table compared to specializing card use, one cashback card for domestic payments (Cembra/Swisscard) and one for foreign payments (ZAK/Wise/Neon/Revolut).
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„Für die Abrechnung der Transaktionen, welche mit der Zak Visa Debitkarte bezahlt wurden, wird der Visa-Referenzkurs verwendet plus ein Wechselkursaufschlag in Höhe von 2%“
They must have changed that, quietly. Well, then ZAK is about the same level as Migros. Edited my post above
Are you sure you aren’t confusing that with their previous digital prepaid VISA issued by Cornérbank? I doubt that a legacy bank like Cler has ever had 0.5% fees & exchange rate margin combined on card payments (with their own cards).
Edit: browsing through my email archive did. advertise a fee reduction (from 2% to 0%) on their virtual prepaid card in their email newsletter from 06 July 2020. And I doubt and don’t remember it having being 2% fee + another 2% or so exchange rate margin = 4% or more before that.
I was thinking about a HZ comparison that I linked to earlier (muuuuch earlier) here:
Not sure how reliable HZ is here. In an earlier test they put Yuh at zero costs, ignoring the 0.95% exchange fee that you have to pay…