VZ Bank opinion

Banks, Insurances & Third Pillar
1

Hi,

Does anyone have any experience with VZ bank for savings account or for a mortgage?

We are currently saving money in order to buy a house/appartement by end of 2024. VZ told us that their saving accounts has 0.7% interest rate with the possibility to withdraw until 100K Immediately and 2 months notice for the rest. (From what I saw in other places on the forum it’s not bad)

As for the mortgage they are promoting Saron (their entire business model is around this).

Did anyone had already an experience with them on the bank side? Are they serious? Flexible? Accessible?

Thanks very much

2

Hi Anne,

i’ve been sitting on various occasion on the other side of the table… (as one of the competitors of VZ). My experience is that they are really good on two dimensions:

  • sales: they are very good when acquiring new clients… what can’t really be said for client retention
  • products: their pension planing offering ist pretty good and they are doing a good job. Regarding investing/financing (mortgage)/saving, i think there are better players out there.

So… i would not be keen on picking them on the bank side.

1 Like
3

Hi,

Thanks very much for sharing your opinion.
Indeed I noticed that their target is more people being 50+ preparing for retirement. Make sense.

I’ll keep looking at other products on the market.