Returning to some of our previous discussion: did someone found a confirmation that they are regulated by FINMA and 100k protection applies? I tried to do some quick search, but didn’t manage. Maybe someone from the community is more experienced with it?
P.S: Huh! Thanks @jay ! I was looking at FINMA website!
1.5% up to 250k
That’s improved a lot since August (it was 1%, and only up to 25k).
Do you know the withdrawal conditions on this “current account”? I looked but couldn’t find anything on their website (which is a bit ).
I find the interest rate also to be attractive, but I fear the current interest rate may be a marketing teaser until they introduce a monthly fee for their account, which could make the deal less attractive. They advertise their offering on their website as Early bird offering without a monthly fee. https://www.radicant.com/de/preise/
Looks interesting as well. I will need some short term solution to store some money. The taxes are currently providing 1.25% yield on early payments. The wiLLbe account sounds more established and secure but has less interesting yields. Also “FestGeld” is not really an option as the rates are even less.
I didnt consider opening an account because I gave a relatively high probability of them introducing fees by mid year and then the interest would only be paid out once the year is completed. Truth be told I didnt check the general conditions to analyze what would happen to interest payments in that scenario and have opted for willbe in the meantime.
I didn’t find this in the documents, but I’m pretty sure any time in the year, at the time of closing (Saldierung), you get the interest for the part of the year credited and paid out. 99% of bank accounts pay the interest at EOY, and all the ones I’ve ever closed give you the interest for part of a year.
Anyhow, I have opened a Radicant account in the meantime/last week, and onboarding was similar to wiLLBe. I had problems with the ID process in the afternoon (crashed/froze multiple times), but in the evening worked “first time”.
The “product” does what it needs to.
I suppose wiLLBe-Radicant comparison will often be about interest and fees (where they are very similar), but it is fair to note that Radicant offers a bit more features (virtual debit card, e-Bill, attractive interest above 50k too).
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Preise | radicant bank ag
Pricing | radicant bank ag
OK, but not a game-changer.
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