8 posts were split to a new topic: Polish-Swiss Tax residence
I donât need a maestro or postcard card so I will most probably switch to migros bank. Even if it stops being free it is only 36 p a without cards compared to 60 at postfinance.
I didnât even know you can withdraw cash directly at Migros grocery stores if you are buying some grocery, it could even be more practical than Postfinance.
It will only cost me a couple of hours to resetup all payments and inform all LSV of the change. So not a lot for 60 chf pa savings.
60-36 thats 24. Couple of hours? Go to the bank, create an account, set up new logins, learn around new system, write down new password, copy saved accounts. Could easily take 4 hours. So great, you just made 6 chf/hour.
But you will say that will multiply by the number of years. Sure, until the next pricing reshuffle and then some other bank will be the cheapest.
For those considering a move to Migrosbank, be aware that any foreign currency account apart from EUR incur a Fr3/month fee.
BCV Formule Classique is entirely free if you have CHF 10k with them. This includes Maestro, unlimited withdrawal at Kantonalbanken, 1x withdrawal / month at any ATM. The application can be done completly online, no need to visit any of their branches. (I live in Zurich and opened and account with them)
https://www.bcv.ch/Particuliers/Produits/Gestion-courante/Formule-Classique
Migros Bank takes CHF 0.20 per payment into your account. If you use Twint, sell small stuff on ricardo etc. a lot this can get expensive pretty fast. Personally I would rather pay CHF 60/y for PF than this.
ZAK would also be great, but no E-Bill, only Mobile banking, withdrawal fees at ATMs other than Cler, weekly transfer maximum of 10k and 5k per order (how to pay taxes, buy a car etc. with this account?) destroy this for me.
What do you mean with no e-bill for Zak? I see you can setup lsv etc
Iâm looking at options and Zak is not looking bad.
Bank Cler Private account costs 1 CHF/month with a deposit of 25000 CHF (on 0.6% in the first 365 days), but without a Maestro Card, and seem to have no limits on maximum transfers. 2 CHF/month without a deposit.
I considered BCV also, but their best saving account gives 0.025% and to have a private account for free one needs to deposit at least 10000 CHF, otherwise is 3,5 CHF/month.
In this case I will give a try to Bank Cler, without a debit card (I can use Revolut, TW, Curve for withdrawals, but havenât done many of them last year anyway).
Another option would be Credit Agricole (https://ca-nextbank.ch) - free account with a Maestro card for a deposit of 20000 CHF (0.2% on the saving account, or 0.5% on 24-month blocked saving account) - but I really donât like their online interface, and security features⊠like from 20 years ago.
With E-Bill I mean this: https://www.e-bill.ch. You receive the invocies paperless in your inbox. (E-Rechnung in German)
Also CA Nextbank doesnât seem to support E-Bill or Twint. Also neither CA Nextbank or Cler have their own Twint Apps but BCV does.
In case you need to withdraw more than few hundreds of CHF cash you are out of luck if you only have Revolut, TV and Curve. A lot of business in Switzerland is still done in cash. (buying used stuff etc.) So I really believe one should have a Maestro/Postfinance card to withdraw CHF in Switzerland.
Also after the first year Cler is more expansive than BCV even with the higher interest rate:
Cler: CHF 12 / year, interest on savings for 25k: CHF 12.5: Cost CHF -0.5
BCV CHF 0 / year, interest on savings for 25k: CHF 6.25 : Cost CHF -6.25
What about the ZĂŒrcher Kantonalbank?
only 12.- / year, but 0.0% interest.
Doesnt seem to bad
Isnât it like that?
Cler: CHF 12 / year, interest on savings for 25k: CHF 25.00 (0.6%, 0.1% after the first year): Cost CHF -13.00
BCV CHF 0 / year, interest on savings for 25k: CHF 6.25 (0.025%) : Cost CHF -6.25
CreditAg CHF 0 / year, interest on savings for 25k: CHF 50.00 (0.2%): Cost CHF -50.00
Cler without Maestro,
BCV, Credit Agricole with Maestro
2 Likes
If you donât need cash. Debit card costs extra
Can you talk a bit about Curve?Iâve never heard of that.
Howâs it compared to Revolut and TW ?
(maybe in another thread please)
Also got the letter from pf yesterday and am now really pissed⊠
In particular because I do not see good alternatives⊠I do make use of CHF and eur accounts and withdraw quite a lot, the pf card I use not so much, cc I use cumulus and recently revolut (but revolut seems to work only as rechargeable and I understood withdrawals are not free but a bit confused by some previous postâŠ)
seems like no real alternative in the end than paying the 60chf/year to pfâŠ
also very important to me is a good csv/export functionality! Clear Zak doesnât seem to have this⊠What about others?
Sure but thats a one time cost, besides others also charge that.
An update: since 15 October Credit Agricole has 1% saving acount (6 month lock) as an option, or usual 0.2% without a lock. With 20-30k deposit the account (and the card for first 3 years) is free.
1 Like
Iâve opened up a zak cler account for me and for the moment it seems it should work. I see the limitation of 5000 per order and 10k weekly but they are not a showstopper for me at the moment.
MY gf will stay with PF and finally this new pricing from PF will force her to up her investments to at least 25k in low cost ETF 
better than having nothing invested at all. Larger payment will be done from her account, whilst I can live for my day to day stuff with Zak.
But I will take a decision on January for the moment Iâm just playing around ,positively surprised by Zak.
1 Like
How will your girlfriend invest in a fund with PF? The fund range of PF usually have a relatively high TER. (0.6%+) If she wants to buy ETFs she has to open a custody account which also costs at least CHF 90 / year⊠No free cake anymore at postfinance⊠probably be better to swallow the CHF 5/m and invest your money elsewhere or get an account elsewhere.
1 Like
Thatâs all clear. No free cake anymore. Still there are people that are not so eager to optimize until the last cent.
I also got the letter. It says âAb Anlagevermögen von CHF 25â000 = freeâ and then goes on to define Anlageprodukte = Fondsanlagen (i.e. âshitty fundsâ as @hedgehog correctly said) but incl. Fonds in 3A (VIAC is better but Pension75 is not all bad) as well as âund Depotvermögen im E-Trading.â
The last bit is interesting - do normal shares in E-Trading count towards the 25â000? I understand it that way - any Depotvermögen and not only if in expensive Pf-funds.
How did u guys understand that part of the letter?