New banking setup after Postfinance

I’m fine with FinPension for 3a, and with IB as a brokerage firm.

So I need now is regular banking, hopefully cost free.

  • with a decent auto-categorizing/budgeting feature
  • with a good-enough netbank
  • with a mobile app for biometric authentication and scanning bills
  • with eBill / direct debit
  • with a free “EC” or Mastercard, optionally a second one free as well

Neon is free and shareable, but it’s mobile-only and it’s a bit of a pain (I need my desktop web access).

Anything else, before I look over to Comparis?
I’m ready to bite the bullet for UBS if they are decent in the points above.

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Maybe CSX could be another option? It’s a modern mobile based thing, but you can also login to the regular CreditSuisse system if you really need that.

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Yes, I think CSX is the best free offering of all the Neo-bank / app stuff and you can also use the regular CS e-Banking, which is great. They also have a 3a offering for (AFAIK - to be confirmed) 0.95% for the 75% ETF, if for you the 1% before at PF were okay :wink:

Not sure though if CSX has an auto-categorising feature. Maybe I have it disabled or so because it’s usually the first thing I do because I don’t need such a feature, I find it annoying as I like as clean and simple as possible.

UBS is not bad but terribly expensive and their E-Banking looks a bit cluttered and outdated from a design perspective. Not as bad as others, but I like CSX or Raiffeisen etc. in terms of design much better. With UBS family you can also have as many cards as you want, anyway you get at least 3 by default per person.

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They do cost money right?

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What? CSX is free. If you do a lot of cash withdrawals you can go Premium for 3 CHF something. UBS costs 8 CHF per month, the family package 12 or 15, not sure anymore.

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here’s a good overview with all the digital banks.
https://www.digitalmedia.ch/ratgeber/smartphone-banken-im-vergleich/

As CSX does not allow GooglePay and ApplePay, for me it’s out of play.

I’ll probably stay with Neon and will bite the bullet for the web app. Otherwise it seems to do everything I want.

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Unlikely with all your requirements.
Is 8CHF/month (at UBS for example) really that much compared to your total NW / income / expenses?
Price of less than 2 coffees for a peace of mind and all the needed features - I would say it’s worth it.

I am with UBS and happy for the last 7+ years.

P.S. Now they apparently seem to have a promo offer of 0.3% reduction on the mortgage rates for clients (not that I need it, but I think I read you might soon).

it’s not 8 CHF cause that’s only the account fees.
If you also use your card, especially abroad, the fees can go to 5-600 CHF a year (Kassensturz test: Test: Banken-Apps im Vergleich zu traditionellen Bankkonten | 2020 | SRF Kassensturz - YouTube).

You can hedge against this with Revolut, sure. But Neon seems to have a sweet spot in the middle. We’ll see.

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It all depends on your interest and where your priorities lie. But on the principle of paying to have your money in a bank, I find that not very efficient, given the current market offer.

I think that the best compromise at the moment is with the Migros bank.
For 0,20 CHF per money entry, keeping 7500.- in account, the opportunity cost is for me unbeatable (better than the offer of the BCV with everything offered from 10K in account).
I haven’t tried the Migros Bank offer yet, but I definitely intend to try it and make up my own mind (and I have tried CSX, BCV, UBS and Raiffeisen).

Yes that may be a drawback if you intend to use the debit card on a daily basis. However, I pay all may stuff using the Swisscard cards to get cashback, so it’s not an issue for me. I use the CSX debit card only in places where credit cards are not accepted, which is very rare and then I usually use TWINT rather than the card itself, CS TWINT can be used with CSX.

Be ready to be shocked when you see their e-Banking the first time. I basically quit on the same day when I got the e-Banking credentials. I tried to find out where on the website is the link to the login page and then found out that there isn’t a web based online banking, you have to install a software on your computer for it which looks kind of outdated and you also have to install it on a second device because you always need two of them for everything. I called them and asked if they really don’t have a web based e-Banking because I couldn’t believe it, but they confirmed.

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ugh…

no way, really In what world do these guys live in?! :roll_eyes:

I consider that to be an awful compromise for time.

You get 1% cash back and in return you need to:

  • hand-transfer the money to your CC account every month
  • not forget the time or face hefty pentalties
  • manually categorize your entries on the debit account side to keep track of spending

I personally use my CC only for larger items as the risks hanging are larger than the 1% cash back benefit.

? Imo it’s a bit of an overstatement…

Point 1 takes 5 seconds… point 2 you have to take care of for any bill so not really an issue

I can second point 3 but this is an issue only for people willing to keep track in a detailed way of their spending (not the case for everyone here)

They seem to plan launching web-based banking this year.

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E-Bill plus automatic bill confirmation do the job.

I have only one entry: credit card expenses.

Yeah you seem not to care about tracking expenses, which is fine then, I guess :slight_smile:

It’s not a prepaid card or so, every month I get an e-Bill for all my credit card spending. I basically pay everything I can with credit card and get paid for it, which is quite nice.

Approving the e-Bill is one click you need to make together with other bills which you need to approve anyways. You can even configure auto-approval for e-Bills so it gets approved automatically every month, then you have to do absolutely nothing. I guess most credit card companies also offer LSV, but I prefer to use e-Bill for everything.

Like that, you can also not forget to the pay the bill, and there will be no fees.

I don’t do categorisation for my spending because I think it’s a waste of time. It is good in the very beginning of your FIRE journey when you want to get more disciplined and so on. I also used YNAB to track and budget my spendings in the beginning. But once you have set up everything, you have your emergency funds, configured standing orders for everything etc. and you have your spending under control intuitively, and your savings rate is at the levels you wanted it to be, then it doesn’t make sense anymore for me to categorise every payment I make and it becomes more of a time waster because there is no benefit anymore.

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I calculate my expenses, but I am not categorizing them.

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not sure what calculating means in this context, but it seems you’re not tracking expenses, which I said is fine as it’s a personal thing. I’m not happy with a 4k bill at the end of the month that said “CC expenses”.

To each his own.

Go with Zürcher Kantonalbank. CHF 1 per month for all the services you are looking for.