If 100k is the maximum you would put there, and I suspect many of us are dealing with a smaller cash position assuming the strategies that are emphasized on this forum,
I don’t get how chasing a few hundreds by adding complexity, contracts, paper work, children proxy, is a great deal.
Especially when it’s time-limited, and you should as well cancel everything afterwards.
“If 100k is the maximum you would put there, and I suspect many of us are dealing with a smaller cash position assuming the strategies that are emphasized on this forum.”
That is unless you consider these positions not as cash (pretty illiquid as a matter of fact), but as bonds. Then you’ll easily end up north of 100k.
I’d say 100k insured at 1% interests sounds better than most actual low-risk bonds in CHF right now.
Just a 4yi: It is now possible to open a Coop Depositenkasse Konto directly from internet with their App. Interests are 0.4%pa with a block for 6months.
there was a time when these societies paid higher interest than standard savings accounts with good banks. There was a time i had about 80k with such societies (including real estate societies). These days are over… its not worth it, especially considering the credit risk you take.
Probably nothing much. There are enough competitors eager to gobble up their market share. I mean, CS went bankrupt (or was declared as such), businesses got absorbed and restructured. UBS wasn’t the only one interested.
Want to park some cash for short/medium term in case of some RE purchase. But the abysmal rates make me wonder if it is even worth it. Best I could do is use the CEA account with 1.5% for couple of years till I reach 35. But the hassle of opening the account, moving the money, then probably closing the account, additional tracking and taxes makes me question if the, say, 1.5k a year are worth the effort.
Has anyone tried to approach their bank and propose to them match some conditions of another bank? Say if I go tu UBS and tell them I will move my cash out as I got a better offer, is there a chance they could match it?
I have not done this myself, so I can only offer some thoughts. I don’t think that the big banks are interested in keeping too much cash in their books with the risk of instant withdrawal. Especially UBS who is in a long lasting fight with the government about its capital adequacy regulations.
Unless you earn more than 1.5K per hour - which is probably the commulative amount of time this takes - this is probably the best hourly rate you’re going to get. Heck even if it was 3h, 500 an hour seems quite good.
So I actually tried this, and they did offer me “better” rates, but it still did not come close to the CEA offer. Nevertheless, good to know that you might squeeze some additional percentage points by simply asking.
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