Postfinance and Swissquote launch a new app called Yuh

Banks, Insurances & Third Pillar
43

Good you didn’t meantion YAPEAL.
Hundreds of rabid Yapsters would have begged to differ.

Probably in the plans or works, if this is (supposed) to take off.
That’s the way it works: Release a minimal app / product first, then expand.

For the members of this forum.
Not everyone has 6 figures to invest through IB.
For long-term investors, it’s a one-time it’s small charge.

I’m actually surprised they’re offering an U.S-domiciled ETF (rather than more expensive European ones) with their seemingly limited selection.

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44

Just found this funny ad for cypto by swiss gov :smiley:

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45

Thank for the list.

Just signed up with your code. :slight_smile:

It’s also nice that this bank allows clients from outside of Switzerland. So this is a cheap way of getting a CH IBAN (which you sometimes need for some other services) for me since I live in Liechtenstein.

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46

Oh, it is you :grinning_face_with_smiling_eyes:

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47

Huh, they advertise themselves with FIRE

Screenshot_20210512-052203_Yuh
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48

What are the advantages when using someone’s code to sign up?

49

I think it’s an affiliation/referral programme. If I understood correctly, when you use a code, you’ll get 500 Swissqoin and the user that offered you the code also gets 500.

Two questions:

  • I skimmed this discussion and if I got it right, this is a new online banking service that offers you all the services of a normal bank plus investment services like buy ETF and crypto?

  • After 2022, do you keep the advantages of the 2021 fees-format ? And these will correspond to the free-plan “FLIRT” ? or you’ll lose advantages because if you’ll go to with the FLIRT pack?

50

500 SQ correspond to 5 CHF. If you use the code you’re helping someone reach Fire 5 CHF sooner :wink:

51

In the article, it is said that the VT TER is 0.08%, but no data for the other 4 ETFs. So I asked Yuh directly on Twitter and here is the answer:

Screenshot 2021-05-12 at 10.44.19

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52

If you want to go deeper and know which ETF they are providing:

I am surprised that they listed two US domiciled ETF in their selection, they could at least chose VOO for their US Blue Chips :upside_down_face:

  1. Correct
  2. We don’t know, but it won’t be a surprise if they took the advantage of the free solution now to their payable package (KISS and LOVE), or they will maybe keep the free solution as it is now, but with their paid plan you will have access to other investment, better fees ? Premium card ?

From what I’ve seen, I don’t know what PF provide here in their joint-venture with Swissquote (except money?). Because you are using Swissquote broker solution for investment and cryptotrading with their fees… Your money is also insured with Swissquote and not with PF.

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53

It’s pretty inaccurate of them to call them blue chips. None of these index are blue chips, they are simply large indexes…

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54

Quick questions for members who open an account with YUH:

  1. If I open an account with my Swissquote account and that I already have 500 CHF there, will I receive their 500 Swissqoins, or do I have to transfered this 500 CHF?

  2. Will the IBAN from YUH be the same as your current PF or SQ account?

Thank you :slight_smile:

55

Transaction fees in 12 currencies2 Free
Currency exchange 0.95%

So, we do not pay any transaction fees, but pay 0.95% currency exchange fee when we do not have the necessary currency? I am really surprised they do not offer free currency exchange for payments like Neon and Zak. Or, am I interpreting this wrong?

56

Wait for the paid plans they are going to launch next year…

57

That’s how I read it, too.

Then I’d rather choose the multi-currency account at Wise (ex Transferwise).

58

In general it gives me an impression of “Swissquote Lite” account/application. You get a multi-currency account of the same type, in/out payments in CHF and EUR are free, a physical credit card is free, no deposit fees for investment, same FX exchange markup. But you pay it with a flat 0.5% fee on stocks/ETF trades and bundled order executed once per day (and how many of them are matched internally)?

But I think I see one important use case for this account. There were complains that it is difficult to find a EUR-denominated Swiss account, which is SEPA-compliant, i.e. EUR transfers in and out Euro zone (well, SEPA actually) are free. Well, now you can have one in your name, fully SEPA-compliant and for free.

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59

No eBill, obviously, otherwise yes.

There is a Scan+Pay function like in PF app.

I logged in with SQ credentials. Was verified instantly, but otherwise it is a new account.

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60

It wasn’t difficult at all.

…unless you were too cheap to pay a few francs to a Swiss bank.
Or to anxious to open with a German bank (e.g. N26).

Being SEPA-compliant doesn’t mean that transfers are free or vice versa.

Some EU banks do charge for transfers to/from Swiss SEPA accounts.
Even if they do not on the same Intra-EEA payments.

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61

They have chosen USD ETF distributing dividends to increase their fees.
You need to exchange the CHF to USD to buy them and then when your receive dividend in USD. You’ll need to exchange the USD again.

No, the exchange fees are the same as Swissquote which is quite high.

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62

You are right as always!