WIR Bank TOP package

Banks, Insurances & Third Pillar
184

Has been solved with the new app. I receive instant notification. As for settlement, transactions on the weekend get settled on Monday. This is the same as for my credit card, purchase date and settlement date are not always the same.

Where did you get the screenshot? It has outdated information. Radicant is no longer in business. From my understanding, Wir has the best rates in Switzerland.

True.

Not true. Wir supports three of the four national languages of Switzerland. No English.

Don’t buy an Anteilsschein. You won’t get the full amount back.

I have never used their physical support. However, my guess is that staff in the physical branch often doesn’t have access to the technical backend, so they won’t be able to solve technical problems for you. And the debit card is issued and supported by SIX, not Wir.

I personally have a Wir account, my mother as well. Though I don’t meet their requirements I have never been charged or reminded, it just works. There are also no reports in this forum about people not being able to open account or getting charged, even if they don’t meet the requirements.

Again, double check answers from AI. I have no idea how AI came up with this answer. Wir is certainly a traditional bank as well.

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Banking + credit card combinations [24-26 edition]
185

Only the prepaid credit card is free, the others have a monthly fee.

186

Good to hear the transactions now reflect more instantly in their Mobile App. I guess during non-working days such as weekends, transactions only get reflected the next following working day (e.g., Mon), because they need to take into account the foreign exchange rate that is available on the next following working day for weekend transactions (when the market opens), makes sense. If they are using the SIX exchange rate as someone pointed out earlier, then yeah the market is only open during Mon to Fri during working hours something like 9 am to 5 pm.

Reason why I asked regarding the Anteilsschein, is because I won’t be depositing 1500 CHF every month, maybe just only the first few months I would deposit some funds there to have some funds kept there. My idea is just to maintain the account balance somewhere around 4000 to 6000 CHF something like that, maybe a bit more than that, and regularly top it up (via TWINT or normal IBAN to IBAN wire transfer) when it is reduced to like half or less than half of that. Basically use it regularly as a debit card within CH and outside of CH as a second debit card on normal day-to-day purchases compared to my other regular bank.

I understand with the Anteilsschein that, it costs 200 CHF, and only 20 CHF would be returned on and 180 CHF is basically what they will not return back. So basically if someone needs it, the Anteilsschein I guess would be requested via their e-banking or Mobile App.

Every year I can spend anywhere easily from 10k (min) up to 15k - 20k (max) I suppose on foreign currency transactions which includes, family travel, hotel bookings, flights, trains and general transport, physical purchases when abroad, cross-border grocery commutes, or even when shopping online (e.g., Amazon etc.)

The screenshot was taken from Google Gemini (AI), yeah it doesn’t know Radicant is no longer more available, meaning they are not accepting any new accounts, some caveat’s of AI I guess. The rates that AI gave for various banks seem right, but maybe its not the best in the decision Verdict, I agree.

188

It seems a very mixed bag to me .. some seem right, some are totally off. Radicant was already mentioned, but also Migros Cumulus credit card is for sure not using the ‘TopCard’ rate. The card is issued by Viseca on behalf of Migrosbank and I think they are using some Migrosbank rate. The 2.0% seem close enough though

189

What ? Could you please elaborate ? Which requirement did you not meet ? Thanks !

191

Why not set a recurring income of CHF 1500 monthly ?

192

I do not meet any of their requirements either but was never charged any fee. I have now also opened the Sparkonto plus which yield 0.75% until end of the year. It’s not that great as the amount to be retrieved is limited to 20k CHF but still in case I will need a short term deposit for some cash (I need to buy a new car somewhen this year). Overall, I can’t complain and used the card on several trips niw without any issue. However, I would not use it as my main account.

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195

Correct, I did not remember our discussion. But if I understand correctly, you and I have the same products at Wir: a Privatkonto in CHF and a Mastercard debit card.

196

Neon is 0.35% Fx fee + 0.3% for EUR or 0.5% for USD (Source). But I’m with you. I’ve also considered switching to WIR, but I don’t want to be forced into it. That’s why I’d rather not.

By forced into it, I mean the conditions that must be met. But that’s just my monkey brain :sweat_smile:

197

If worst comes to worst you can buy the Anteilsschein for 200 CHF (what I am thinking to do, but for the first 3 months I would deposit 1500 CHF after that I might consider the Anteilsschein in the fourth month). This means you have invested 180 CHF, and 20 CHF can be returned when you close your account, for which you can have a Pizza at a takeaway. Plus with the dividend, you could get 10-12 CHF back every year.

Bottom line is, if you invest this 180 CHF, and your foreign transaction volumes and costs are high, you can save an amount up to 180 CHF in the course of 1-2 years, then after that it’s free sailing. Unless they change their FX rate on the Bankpaket top in the coming years, and no one can predict that, like what Neon did with 0.35%, and now Radicant is no more. However WIR itself is a currency, not a physical one though, and the Bank has been around for like 80 or 90 years.

198

what?

199

Outside our finance bubble, WIR is known for the WIR-franc. Sometimes still used in the construction industry (around Aargau, Basel).

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201

Just opened the Bankpaket top account. Was quite easy and hassle free, digital onboarding, online via the PC and their App. They had an issue to verify my ID the first time I did it digitally, so they requested me to do it again digitally, and it worked out fine. Literally it took like 30 mins the whole onboarding process and was very simple and easy.

After a few days I got some letters in the post that provided the details for the e-banking, debitX+ App, PIN code etc. The following day I received the Debit Mastercard.

Given that it is a small bank with ~250 employees their e-banking system is not that bad as people say it is. It is useable to a very good extent, plain and simple, its not very flashy neither it has too many cosmetics, it does the job for you.

Quick questions:

So far, they have been very responsive when I reached out, they have always called back when I requested it, and have been helpful and pleasant to talk with. Their support seems great.

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202

Its only unique use is to provide you with the authentication notifications for online purchases (Mastercard 3D secure). If you chose to receive the authentication as SMS code you don’t need debitX. With the old Wir app, there were no instant notifications, so debitX was also useful. But the new Wir app has instant notifications of debit card transactions. I use SMS authentication, it works flawlessly. As mentioned before, I can’t setup debitX due to the verification SMS for debitX being delyed between the sender (SIX) and my provider (spusu) and me.

How to change the Debit Mastercard PIN?

Not sure if this is possible in debitX (since I don’t have debitX). Otherwiese, any Swiss ATM can do that.

For the Anteilschein, after I fill this form and send it via post, would they deduct the 200 CHF from my account automatically?

Not sure, since I don’t have an Anteilsschein. But I would assume, yes, that the form includes explicitly or implicitly the authority to deduct the money from your account.

Just for my own curiosity: why did you go with the Anteillschein, knowing that you will not get all the money back?

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203

Right now, it’s the only way to see the transactions of the card (only in original currency). There is a bug which don’t show transactions in the main app under “Karten”, only cleared ones are shown. But they are on it to fix it.

There is a function in the debitX+ app: “Set PIN”. But first time it has to be changed on a ATM.

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204

Thanks both, will try out the debitX+ App and also change the default PIN on the debit card, so I can start using it. I don’t think would be using it for online shopping, credit cards are generally more safer as you can still get the credit refunded if anything goes wrong. I will most likely choose to receive notification as Push messages in their App (this notification setting is available via their e-banking). When you are abroad everyone generally has WiFi as data plans are cheap, but SMS are not included in a data plan, so better for me are Push messages / notifications from the App and emails.

Reason why I need to go with the Anteilschein route is because my employer has an agreement with one bank, so my salary is only deposited into that bank and cannot be changed. Although I can setup a standing order to transfer money to Bank WIR every month, but I want my salary account to be the one my employer has an agreement with, as I get some additional benefits there. Bank WIR account would be mainly for buying things in non-CHF currency but also can be used on a daily regular purpose in addition to my other debit card. Would not be putting much money in here, not more than a few thousand, but would be topping it up regularly time to time when balance gets too less.

205

Wir has the best fx rate of any Swiss debit or credit card, so it might make sense using it for online purchases. I had an issue with another debit card (Neon) and a wrong transaction. Yes, I paid the money already, but got it refunded without any problems.

Of course, push is safer and more convenient. Just a side note: receiving SMS is free in any plan or prepaid.

As mentioned, I am not meeting their minimum criteria and I don’t have an Anteilsschein. So you might want to wait getting the Anteilsschein until they really start enforcing these minimum requirements.

206

This is the first time I’ve heard of that. In what industry do they do something like that?

207

Is that even legal?

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209

Apparently yes:

Eine Vereinbarung über die Lohnzahlung an ein bankinternes Konto verstösst nicht gegen das Truckverbot und ist deshalb zulässig. Weigert sich der Angestellte, die Vereinbarung zu unterzeichnen, kann die Bank diese Modalität der Lohnzahlung auch gestützt auf das Weisungsrecht durchsetzen.

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