You are right. Should have scrolled down more on the link I shared myself… The “Basis” package indeed has a basic credit card included (limit CHF 3’000.-). 2.5% surcharge when paying abroad is a bit high.
Zak from Bank Cler for all daily spendings (free with visa debit card) and the bank cler private + savings account for salary entry point, big payments and emergency account(1.- per month without a card)
What I like is that you can access their webbanking and transfer money to zak very easily + you have the support by phone if you need anything urgent.
Zak has ebill and the scan function.
If you are interessted pm me for a referral code, that will finance the setup for 25 months
…if you have at least 10‘000 CHF of wealth with them.
Given that, you can also get their standalone personal account at only 3 CHF/month and add a free credit card (min. 24 transactions/year, easy-peasy, when you can use it at Migros & coop for an apple or a bottle of water). If you need a bit of cash, you can use their customer card (10 CHF/year) or a secondary account (Neon, Zak or even Wise/Revolut, unless you need lots to pay for all the hookers and blow). Personally, I can’t remember the last time I‘ve used CHF cash though.
I used to have that setup. Only got rid of it when I didn’t use it anymore, due to preferring Neon‘s app over the UBS banking app.
I see compromise and hidden costs everywhere except neon.
Some don’t support ApplePay, some are useless (= too expensive) for paying abroad, some charge for the account and again for the card, some only give you a Maestro for free.
Neon for me ticks all the boxes (twint, applepay, mobile app, auto-categorization, free, cheapest payments abroad, mastercard) with only 2 caveats:
no web banking. hopefully it’ll come soon
prepaid mastercard instead of a debit mastercard. In practice there shall be no difference here. Juristically the prepaid system is not under the bank guarantee but Neon has mitigated this with the Hypo Lenzburg backing.
I still have the PF set-up where the PF card is free as well as there is no account fee (as I have also part of my portfolio in E-trade beside the IB part) for additional cards I have cashback cards and Revolut for traveling. It could be simpler agree and PF has decreased a lot since the beginning (biggest point for me was the free cash abroad) but I’m with the impression that we should not pay for a banking solution even if it’s just a small fee. At the end the banksters make money with our money without any risk and no innovation so I do not see a point in supporting them even if it’s just 50CHF/y
I’m having some titles in e-trading as well, but alas, it’s ridiculously expensive compared to IB, so it’s mostly just paying 90CHF a year to hold 3 titles, which is… not so smart.
My current premise is to replace these 3 with one (the neon one).
monthly 2 free cash withdrawals (who still uses cash for anything?)
costs close to Revolut abroad
free with a free mastercard
As for CC I’m using the free Cumulus Mastercard which is hard to beat anyway. Coop has the same with Visa.
No debit card (who needs debit cards if you have credit cards, especially when the debit card costs CHF 40 per year. Moreover, I never withdraw money. If I would like to do so, I could order their “Kontokarte” for free and deposit money as well. Lastly, I want to keep the number of cards on a minimum).
Cashback credit card (linked with the ZKB account).
[- Swiss Miles and More Platinum, which I will terminate next year once I have used all miles for the flights]
With ZKB private account I have:
e-banking (one of the best and cleanest interfaces I have seen)
Twint
ebill
and other stuff, which other plans include (e.g. several discounts for events, but I never use it).
If you need a savings account, you can have one for free. Why did I choose ZKB?
I live in Zurich and there are plenty of ATM, if I need one (again, I never withdraw money)
They have branches in case I have to visit one.
One of the biggest banks out there.
In order to complete my setup (to give you an idea):
ZKB private account (the above mentioned; operating account)
Neon (for fx only)
Cashback credit Card (linked with ZKB)
Interactive Brokers
Swissquote (for cryptos and as a back up, once I exceed a large number of amount on IB. Then I will probably transfer some securities to Swissquote).
I‘m interested in your experience with Swissquote. I had once an account with them in my early trading days which was fun, however now as pure buy and hold I think even the PF E-trade which is based on SQ is better as it does not have a quarterly charge (can you remind me how much it is at SQ?). Fully agree that it’s incredibly overpriced compared to IB. However, I still have some 150k there for VWRL and some stocks (BION, HBMN, ZURN and RIO) where I do not see the need to transfer to IB.
From a personal perspective I do not really like Neon to be honest The app is lame compared to Revolut and as mentioned in another topic there are some fees for withdrawal cash abroad which I still do not understand which was not the case with Revolut.
Agreed also that in CH cash is not really essential but you know the golden rule: drugs and hookers only in cash
Trades of many ETFs and mutual funds can be much more expensive at PostFinance, though. At Swissquote there is a large number of funds with a flat commission of CHF 9. At PostFinance you quickly reach e.g. CHF 35 (ETF) or CHF 60 (mutual fund) for a 6k trade, as far as I can tell.
Also, security transfer costs CHF 100 per position at PostFinance, CHF 50 at Swissquote.
Sure, you can’t avoid stamp duty with Swiss brokers. I don’t expect the CHF 90 credit to be usable for stamp duty, so that doesn’t affect the comparison. Exchange fees are also treated separate for both.
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