wiLLBe banking app

Banks, Insurances & Third Pillar
69

I have both. I summed my comparison up as follows in the Radicant thread:

2 Likes
71

It has Swiss guarantees? Where is it stated? Cash at WillBe is protected up to CHF 100k.

73

This morning had an interesting conversation with my bank, did a transfer yesterday to wiLLBe and my bank blocked it and asked me if I was sure about the transfer, if I knew this bank, the risk, etc. I am feed up with banks calling for my own security and just blocking my money :triumph: Any similar feedback?

75

I actually went to Alpian with my short term cash. Once it drops below 100k I would switch back to wiLLBe (hopefully by that time I have either spend the cash or given up on the project and invested back in shares).

I had quite a long fight to get my money from wiLLBe to Alpian as the income transfer that I did from Alpian to validate the account necessary for transfer out of wiLLBe was not recognized. The issue was at the end that wiLLBe has a hard time detecting income transfers from multi currency accounts.
Now after seveal mails with the client service it’s all set up and the money transfered.

76

If they do not know Liechtensteinische Landesbank, then I would probably change the bank (TKB, SGKB, TKB and AKB are offering free bank accounts, for instance).

Especially if the beneficial owner is you and they are still blocking the transfer.

77

Yeah, the beneficial is me and they want to keep my money and pay shitty interests! :unamused:

79

It was a pure financial decision. I have 170k in cash right now so Alpian gives me a better yield than wiLLBe for this amount.

The problem with the multi currency account was the incoming IBAN number. I assumed and entered the IBAN from my Alpian account but apparently this is the IBAN for the multi currency account and for outgoing CHF transactions there is a sperate IBAN.

From the app perspective I really like that in wiLLBe it shows me “live” the generated yield. Beside that I don’t like (but understand) that there are pushing you within the app to go with their investment solution (same applies for Alpian as well). But yeah I guess that is where they would make their money, so it’s ok.

1 Like
81

To add Raiffeisen Winterthur with 2.25% p.a. for this fiscal year:

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84

Yeah that is a good point.
I really hope that we can decide on doing the project that we plan for in our house or not relatively soon that I could move the cash into the stock market again. I’m not feeling to good about having so much cash sitting around. I feel that Mrs and myself are getting greedy and buy stuff where we would have thought twice about it before or at least having negotiated with the vendor :joy:

86

Login failed for the last days, anyone with the same issue? thanks

87

Just logged in on my phone via their app and it’s all good. iOS

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88

Same error on the browser :roll_eyes: just sent an email.

89

No issue logging in several times over the last few days.

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90

Thanks, the support team answered quickly and it’s all good now.

91

wiLLBe lowered their interest rates for CHF. Can anyone confirm?

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93

This is confirmed yes.

Yesterday I exchanged 2000 CHF to EUR.
Got 2031.60 EUR today.

EUR/CHF = 0.984447

Since the transfer isn’t instant it’s hard to tell but I was expecting to get quite a bit more. I thought wiLLBe had quite decent exchange rates? I’ll look more into it this weekend but just wondering if someone had already gone through it.

94

European Central Bank publishes a 0.9846 EUR/CHF reference rate for yesterday.

That would make EUR 2031.28 / CHF 2000.
You actually received slightly more.

EDIT: Xe gives this chart for CHF/EUR, daytime yesterday (UTC) highlighted in red by me:

Xe
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2 Likes
95

I do not want to be cynical and 1.3% is still very good, but the expectation that this would happen after they locked in the first batch of new customers made me wait until things have settled down a bit.

96

This is based on the decision by SNB. No bank is giving you a higher interest rate than they receive from the SNB or similar risk-free products.

Therefore, you can expect higher interest rates once the CHF key interest rate rises again.

Since FED/ECB did not reduce the key interest rate, the interest rate on EUR and USD are exactly the same.

4 Likes
97

If no sales people were involved, that is how it might be from a pure technological point of view.
Sure, they will follow the trend - but the rest is marketing and sales.