Raiffeisen is changing conditions

Banks, Insurances & Third Pillar
42

See? You don’t mention the new site, so I suppose even you missed that. It is not that clear.

You can show a QR code when visiting museums. You can get yours from MemberPlus’ site.
Anyway, according to the link above (pick de/fr/it) you are MemberPlus if you have a salary or you invest with them (3a counts). BUT, then they say that if you want to get a login, you need the Debit card. It doesn’t really say that you have to keep it.
I suppose that the a-bit-confusing wording means:

  • if you have a salary or invest, you get a “member” bank account with interest rates
  • if you pay 50chf/y you additionally get a debit card and you can go to museum free (or cheap football/hockey matches)

(I agree with the positive points though)

2 Likes
43

This page in french states that you benefit from MemberPlus if:

  1. You are part owner of the bank (sociétaire).

AND
a) you have recurring money inputs on your checking account
OR
b) you invest with them
OR
c) you have a mortgage with them

In order to activate it, you need, either:

  • an active e-banking contract
    OR
  • a debit or credit card
    OR
  • an account with an IBAN

I’ve tried logging into my e-banking, then reaching the MemberPlus portal and I am logged in, everything seems to be working, though I have nothing to buy to test it right now. I also have a debit card for the time being (I might give it up when I’ll have to “upgrade” to Visa Debit / Debit Mastercard because 50.-/y is not nothing now that they can generate income by parking reserves at the SNB).

I do agree that they could do without the opaque wording for things that could be stated clearly or, even better, made simple. They add so many ANDs and ORs that the whole thing becomes way more of an ordeal than it needs to be.

Thanks for having pointed this, it’s good to know I can cancel my debit card without loosing MemberPlus advantages.

44

Pour bénéficier des prestations supplémentaires MemberPlus et du pass MemberPlus vous avez besoin d’un login vous permettant d’effectuer des réservations sur le portail MemberPlus.

This part is where it seems you need to keep the login.

Il n’est possible de créer un login permettant d’effectuer des réservations sur le portail MemberPlus ainsi qu’un pass MemberPlus que si vous détenez l’un des produits suivants

This is where they say how to CREATE the login, not keep. So by their wording you are correct, but I keep thinking that the “create” is in reality a “keep”.

I think someone should test it.
I personally tested the QR code generated on their site by going to a museum. I took a screenshot of the QR instead of loggin in at the museum. They did scan it with an app, so I have no idea what information they might get, maybe it checks if I have a working login. In my case I still have the debit card so I can’t test what happens without it. Maybe it works for museum but not for things you need to reserve online.

45

I’ll probably test it next year, provided the BCV confirms that TradeDirect assets count toward getting free e-accounts along with their debit card. Since I already use TradeDirect, I might as well use their free formula if I can keep my MemberPlus status on top, which I expect, then that’s great.

46

Did you try decoding the QR code? For instance with https://online-barcode-reader.inliteresearch.com/

47

Since their central office is in St. Gallen, the main version must be German. It should be written somewhere deep inside the main agreement.

I have generated their electronic code to use as a Museum Pass and other activities but didn’t use it. I want to try it, also probably buy some ski day cards and see how it works, then cancel my debit card.

1 Like
48

For the sake of balance: UBS did the same to me a couple of years ago - 10 or 20 chf for a customer card that was previously free

I hope banks will stop adding fees now that interest rates are positive

49

It’s just scrambled text. I suppose their app sends data to Raiffeisen to check it.

Try to do the opposite, first cancel, then buy with the QR.

50

Raiffeisen Basel ist now doing the same. I must crunch some numbers and see if it’s worth it. Not only would I keep my accounts for free, I’d also have a higher interest rate. And part of my cash anchor is with Raiffeisen.

51

I crunched the numbers already :grinning_face_with_smiling_eyes: and the result is quite simple: it is worth if you plan sticking longer than 8.3 years with Raiffeisen. This is because one Genossenschaft share costs 500.- which you need at least one and the account fees per year cost 60.- if you do not get one share. So for my side I decided to get one share until end of this year. The new conditions seem to be applicable starting from 2024 if I remember correctly.

52

I think you missed the interest rate paid by the share. And you did not presume to have cash in the savings account? You do get 1% vs 0.7% interest rate if you’re a member.

Anyway, the more money you have in the savings account, the earlier the share will pay off.

Since I have some of my cash parked at Raiffeisen I am going to get the share.

1 Like
53

You are totally right and actually I wanted to add a note to my post above but did not get a chance. My calculations are based on the worst case scenario where I consider the one single 500.- share as lost but of course it should be no problem to get it back. Still there is a possibility to lose it and I take this pessimistic view. Then I did not take in account the future interest rate on the 500.- share (they say it should be around 1-2% but for some Raiffiesen Genossenschafts I heard 3-4% if you’re lucky) and then as you mention the 1.0% interest rate as MemberPlus instead of the 0.7% on their savings account.

Last note, even though you can retain your advantages by “paying” 500.- I don’t like that they sort of “force” you into it.

1 Like
55

Agree, that totally makes sense. It can basically be considered like a “locked” savings account where you have to go through some formal administrative procedures in order to get it back.

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56

I would consider it as some sort of Kassenobligation that, in addition to its interest rate, gives me a series of other benefits.

There are worse deals around. :slight_smile:

1 Like