Yuh and neon offer super-simple trading, and no other cantonal bank can offer the same low forex card fees as neon AFAIK.
I also don’t know of a simpler and cheaper way to invest into a global ETF monthly than neon’s savings plan.
Yuh and neon offer super-simple trading, and no other cantonal bank can offer the same low forex card fees as neon AFAIK.
I also don’t know of a simpler and cheaper way to invest into a global ETF monthly than neon’s savings plan.
Actually I was talking about banking operations.
For investments that might be a use case for some
The benefit of Cantonal banks isn’t that clear cut, actually. Minimum deposits often required to be “free”, FX, foreign payment, transfer fees, etc. Often combined with subpar e-banking and/or app, slow banking services, entitled/useless advisors, subpar secondary banking services (3a) or broker services.
Moreover, surprising to some, most Suisse Romande cantonal banks don’t offer the expected benefit of a full state depositor protection guarantee by their corresponding cantonal governments, e.g, Berner Kantonalbank (BEKB), Banque Cantonale Vaudoise (BCV), Banque Cantonale de Genève(BCGE).
As you can see from the above, living in Suisse Romande, I don’t see any value in Cantonal banks. If I lived in Zurich or Basel I’d likely consider having an account with one, as they benefit from cantonal backing and generally better quality services, but would anyways keep neovanks for fx/foreign payments and 3a.
I’m happy to learn that Bern is now part of Suisse Romande, so long time that the romands would like to move the Röstibragen!
You forgot lot of these cantonal banks with protection from their Kanton Banque Cantonale de Fribourg (BCF), Banque Cantonale du Jura (BCJ), Banque Cantonale du Valais(BCVs) banque-cantonale-neuchateloise (BCN),
I think also one role of the majority of cantonal banks is the support of local activity, and give back a contribution to the canton, small BCN give yearly around 35Millions back to the canton. So that is another spirit for people who prefer to engage also locally.
Yes I am in ZH and hence it works for me
Haha you’re absolutely right! I was too quick to generalise to SR simply because its two largest SR cantons were impacted , apologies if any were offended by it. The rest of Suisse Romande is indeed lucky to have some State protection with their cantonal banks
too many people in VD and GE don’t seem to realise that they in fact miss out on this perk.
Keeping the bank local and considering its local contributions is definitely a fair point to consider. Yuh being established in Gland, Vaud was also a contributing factor in my case…
But BCV doesn’t have state protection. Just to be aware of it.
I don’t really consider the state guarantee a perk for the inhabitants but rather for the creditors and clients. I’m not thrilled to know that my tax money could go to fill a hole dug by the friends of our politicians, sitting on the board of our cantonal bank.
I checked the balance as well.
First, the forgot to deduct the withholding tax in the end of December.
In the beginning of January, I received the interest rate statement, which lowered the interest by around 5 CHF. This amount and the withholding tax were deducted a few days later.
I wonder whether FINMA sanctions or at least monitors such things.
FWIW, I had to contact them again, and this time it took 20 sec to pick up the phone (& 1 min more to solve my problem). They mention that English support is quicker than German/French/Italian, so it makes sense to pick English.
Maybe it depends on time of day though; try in the morning next time.
I wrote them last week about the mess of the interest rate calculation. No answer after 1 week. I agree that the customer service is poor or even inexistent.
Anyone else has issues with pending payments in the Yuh app with the new update? (1.35.4, Android)
Wrong dates (‘pending’ section in home screen shows now date of eBill request (all in the past) instead of date of planned payment) and also some completely missing pending transactions (even though approved via e-Bill).
Not sure whether this is a layout issue or they again messed sth up.