VZ as everyday bank?

Banks, Insurances & Third Pillar
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Hi everyone, first post here.

I was wondering if anyone uses VZ as their main retail bank?

I had a 3a pillar with them before moving everything to VIAC.
No particular complaints, VIAC is just cheaper.

But I recently noticed that VZ offers checking accounts and a Maestro (and credit cards too, but I’m good already).
They talk about e-bills and Twint (they don’t seem to have their own app, so prepaid I assume?)
But the website is a bit of a mess and I cannot find comprehensive pricing.

The Maestro is 30.- a year which is not too bad, ATM withdrawals cost 2.-, I could live with that.
And it’s even free if you’re a customer of their asset management… but I don’t quite understand which product they mean by that. I assume the one with the 0.55% p.a. fee. Is there a minimum investment?

Right now I’m with PostFinance, I need current accounts in CHF and EUR, I’m not withdrawing much cash and I have free backup options anyway. I like the free SEPA transfers from PF but I could do without thanks to Revolut. I tried both Zak and Neon but they aren’t exactly there yet (Neon shows potential though… maybe one day).

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And what does that tell you?

a) They are too modest to highlight their competitive pricing

b) They distract and try to bamboozle people

Some members like BCV if I remember correctly. I am with a Raiffeisen member account.

1 Like
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I would typically draw the same conclusions but VZ works in old-fashioned ways, and they want you to come over and have a sales rep explain the product and its pricing over a coffee…

I know very well this is usually a red flag, and I would never have opened my 3a there if it weren’t for online reviews. Which turned out to be a better and cheaper product than the competition at the time.

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Before Viac, VZ was a really good 3a solution, I concur.

My brother, coming from UBS, used them for some time. In my opinion, their fees for standard banking solutions (“checking” account, savings account) are too high.