Postfinance increases fees for Giro


#41

Ok then I also need some interpretation help… Are you saying that if you have 25k or more into 3rd pillar in Postfinance 75 for instance, then you don’t get charged the 5chf/month??
That could stop me moving my pillar to viac as I was planning for end of year…


#42

Just answered my own question by checking website: shares in e-trading count towards the 25k.
This quote is about the “investment amount” which continues to give u free Pf even with the changes on 1.1.19.
“Investment assets are recalculated monthly. The amount at the end of the month – made up of the total of investment funds (PostFinance funds, funds of third-party providers), retirement funds (pillar 3a and vested benefits) and e-trading (custody account assets without cash) – is taken into account.”
https://www.postfinance.ch/en/detail/pricing-2019/private-customers.html


#43

@tent 3rd pillar funds definitely count. That i was sure of. I’m surprised that normal shares in e-trading count tho. I suppose they get Fr 90 per year from the client for the e-trading account already, so that’ll do for now.


#44

what confuses me most is when they write:

From 1 January 2019
Account management fee private account
Account management CHF 5/month (irrespective of level of assets)

now I think I’ve not to interpret as assets the 3rd pillar nor e-trading
so very good :slight_smile:

tent


#45

I agree it’s confusing. U cud explain it kind of like Customer Assets refer to cash accounts which they can’t earn money from due to the negativzinsen, so u need to pay a 5Fr fee. If have Investment Assets >25k then they earning money from u (90 Fr/y) already so it annuls the 5Fr fee.


#46

I see, but if I have 3rd e but no e-trading I don’t pay the 90chf…still I guess they earn it from them being kind of vested there… Now I have to redo the math for viac vs pf75 :wink:


#47

25k @ VIAC costs you around 125 CHF per year (0.5%)
25k @ PF 75 is around. 250 CHF per year (TER went close to 1% this year)
AND you are a lot less flexible at PF. But this is discussed elsewhere

There’s no such thing as a free Postfinance account


#48

You are so right! No fee lunch Anywhere of course, didn’t realize pf75 TER was so high…


#49

Another alternative: ZKB inklusiv Basis

Costs 60CHF/year, but you get 1% of interest on the first 5000 CHF (=50CHF). That means you pay only 10CHF/year and, as far as I can see, all the essential things are included (Maestrocard, Visa credit card, e-banking, savings account) as long as you only pay within Switzerland. But with Transferwise/Revolut/… this should not be a big problem…

Please correct me if I missed something!


#50

the creditcard is basically useless (2.5% if you use it outside switzerland), Mastercard costs you if you withdraw at any non-kantonalbank ATMs and you don’t have an EUR account to use with Revolut.

Still not that bad.


#51

It’s correct but the thing with those interest incentives is that they are changed all the time and usually don’t last. Fees on the other hand are changed less often.


#52

@ma0 @Thaek
Thanks for the input, those were things I thought about as well. In my situation (need a proper Swiss bank account) it still seems like the best option at the moment as I have a German credit card with DKB as well as Transferwise and Revolut. Postfinance costs 60/year anyway and Migros Bank charges for receiving money if I understand correctly, a system I personally do not like :slight_smile:

Incentives will change for sure, but just hope this one will stay for some time, and even if it does not, not much is lost compared to other offers… :smiley: But I would be happy to know of any better alternative!


#53

have you checked Raiffeisenbank Zurich? I don’t have an account at the ZH one, so I’m not sure if it’s good or not.


#54

I am actually thankful to PostFinance for introducing the fees, cause it made me actually see how much money I was loosing on using their saving accounts :slight_smile:

I have talked to Cler, checked BCV and Migros Bank, and even considered staying with UBS for the first year, but in the end I decided to go with Credit Agricole Suisse: free package (more or less like CS, or UBS, account, Maestro, swiss transfers, etc.) if 20k is on any of their accounts each month (saving accounts: 0.5 - 1.0%/year now, with some restrictions).

The customer service was great so far, and all the interactions in English.


#55

That’s great, had a look and Credit Agricole Suisse does look attractive. Do you know if you can also have a USD denominated account with them?


#56

I know they offer EUR accounts (+ another Maestro) cause they work mostly with cross-boarder workers, but I’m not sure about USD account.

You can get a USD account from TransferWise for free (incoming transfers from the US), and use Revolut for outgoing USD transfers.


#57

I recently found neon:
https://www.neon-free.ch/en/

Could be a very interesting alternative for banking in CHF and withdrawing some cash. NOT for doing stuff abroad.

Pros:

  • account is free,
  • maestro is free,
  • 2 withdrawals at any atm per month free
  • no need to go to the bank, everything is fancy and done in-app

Cons:

  • no EUR account
  • no daueraufträge until sometime in 2019 (you may get pissed paying your rent before they implement it)
  • no credit card until next year
  • no savings account
  • no ebanking in-browser
  • sepa payment is “free” (1.5% fee)
  • you can not bring cash to the bank (who does anyway?)

I may still open an account there and park some kCHF just for the maestro part


#58

Called them up yesterday, Credit Agricole Suisse, they were very polite. They do offer USD accounts, free of charge, as part of the normal accounts they have.
From all I can read it sounds like this one is the winner - my only concern is that I never heard of them before. Not sure how safe they are as a bank…
I have too much savings in USD to keep it at Revolut, I am slowly investing it but a bit cautious with today’s markets.


#59

Credit Agricole is “only” the third biggest French bank…


#60

I thought Credit Agricole is free only for the CHF account. Is the EUR also free? Their Fees are very very confusing. All mixed up and in small print.