I recently saw that UBS is going to expand its key4 offer by adding real credit cards (currently only prepaid cards) with a conversion rate of Mastercard +0.5%.
My quest for financial independence and the optimization of my expenses have led me to multiply products and services with different banks/applications/etc to the detriment of a simplification that seems more and more necessary.
In this sense, the new key4 offer seems to me, for an amount of 8.-/month, to be an interesting compromise to have a complete banking package and thus avoid using x services from x establishments.
I would be interested in your feedback on the current banking package and/or your opinion on this new offer. Did I miss an important element?
My needs are indeed a private account, a credit card, a savings account (emergency fund), a functional E-Banking from PC/smartphone, a credit card for spending in foreign currencies, the possibility of withdrawing cash from an ATM close to my place of living/working, a modern, ergonomic mobile application that is not filled with advertisements for the bank’s products or for partners’ services. Ideally all in one place to access via a single login/application.
The objective here was rather to communicate the existence of the offer and to collect opinions on it. I see this offer as meeting the needs of a multitude of people here for a price that seems to me all interesting.
I completely forgot about BCV the day they asked me to go there for a request I had made in the past by phone/via app with my former bank. Not living in the canton of Vaud, I see here the limits of the cantonal bank system…
I don’t need access to an ATM every day, but when I do, I have enough UBS ATMs around where I live, respectively on my way to work.
Agreed, that’s exactly the same price as regular “UBS me” with the key4 credit card (if you have at least 10k or a mortgage at UBS), so not particularly interesting.
The base package with the key4 prepaid card provides better value. However, it seems ridiculous that you get both
Debit card with a terrible exchange rate + 2% fee when paying abroad
Prepaid card with a better exchange rate but you have to bother with top-ups and it has terrible ATM fees
I.e. you need to always carry both, unless you’re sure you won’t use an ATM. A single debit (or credit) card with a reasonable fee structure is what I’d want. And that’s what neon and Revolut already offer.
The key4 credit card is slightly better in that you don’t have to bother with top-ups and it’s a full credit card. However, paying CHF 6/month for this benefit, in addition to the CHF 8/month base package, is indeed excessive.