Postfinance customer asset fee 0.75%

So I just got a surprise mail from Postfinance. They are introducing new customer asset fee of 0.75%
That’s unbelievable. I’m searching at the moment where to move. Neon or Zak perhaps. What do you think?

They will start charging the fee from 1. July 2021.

Why it’s unbelievable?

Btw, isn’t this for cash assets above 250k?

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No this is new. Above 100K.
And it unbelievable because no bank has it.

There is already this open thread

Sorry, didn’t see it. This is I guess new for everyone.

Yes I’m concerned as well. I’ll decide how to handle it in the next days…

So far the fastest remedy I see is to open a free account somewhere and move enough assets so you are left with less then the threshold.

I’ll probably move the part above the threshold to my IB account as @Novice suggested in the other thread

Every swiss bank (even CS and UBS) has this? Most of them above 250k and some (like ZKB and now Post) above 100k.

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I also don’t understand the commotion. Note that the fee only applies to current and savings accounts, not to (3a) investments.

It is somewhat popular to put the “bond” part of your portfolio in cash, which can easily put you above the amounts mentioned (the banks were subsidizing it given they had negative interests rate on deposit at the BNS).

Many banks went from no negative interest charged to 1M → 250k → 100k limits in a couple years… it was a fairly quick change overall.

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