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 bankâs products or for partnersâ 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.
Does it ? I thought that for this specific purpose they (swiss banks) change their maestro/vpay card for a mastercard/visa debit in order to be used as a credit card.
Personally, I used my neon card for hotels/airbnb and never had any issue. Didnât try for car location though.
Refused with car rental deposit (like the revolut debit card).
I would rather take the BCV direct package (for Vaud) or the raiffeisen member plus with a free credit card.
But yes, the package is quite good for CHF 8 per month.
Do you still have a lot of ATM machine from UBS near you ?
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 systemâŠ
I donât 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, thatâs exactly the same price as regular âUBS meâ 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 youâre sure you wonât use an ATM. A single debit (or credit) card with a reasonable fee structure is what Iâd want. And thatâs what neon and Revolut already offer.
The key4 credit card is slightly better in that you donât have to bother with top-ups and itâs a full credit card. However, paying CHF 6/month for this benefit, in addition to the CHF 8/month base package, is indeed excessive.
The question is, if the key4 credit cards will be cheaper if theyâre bundled with the key4 package (maybe as an incentive to move away from UBS me).
Out of curiosity: how many bank accounts and credit cards do you currently own?
I would stay away from UBS as their retail prices are robbery and their mobile app sucks (slow, bad design).
Personally, Iâm also trying to downsize, however, Iâve come to accept that we live in an imperfect world and having multiple accounts/cards, also gives me flexibility.
That being said have a look at ZKBâs basic banking package. This should tick most of your boxes.
