fed up with negative rates at my present bank, wanna transfer to BCV who seem to have no such crap policy. Anyone knows their money transfer limits per day or month please? Is it a good bank overall, any downsides?
Regards,
- Josh
Hi guys,
Except it would seem you have not even bother to read their basic T&C
I've never heard of any of the Kantonal banks being terribly flexible or dynamic. I would strongly recommend that you sit down and read through their documents before doing anything rather than relying on some random comments here.
I already went through some of their English documentation available online, but I don't rely on publicly available banking information: based on experience, this is not always complete nor up to date. What I am mainly interested:
1. is there any negative interest rate applied on higher amounts (e.g. UBS has 250K, Credit Suisse 500K as far as I know)?
2. is there any limit to the amount you can transfer online via SEPA to a bank abroad in one go?
Regards,
- Josh
Banking is by definition all about trust. Honestly, I would not consider in the first place using a bank for which I trust online strangers more than bank's information and T&C.
To clarify: I think there are many situations where people's experience matter, for example "is their customer support good?". But here we are talking about precise factual information, so find it a bit odd
A bank sells financial products, each product comes with its own T&C, plus the general T&Cs. So the answer is it will depend on which products you buy and how those terms vary over time. Asking generic questions and expecting random individuals to come up with accurate advice to make your decision on is not the way to go. If something is unclear to you ask the bank, they are the ones that will know and the only ones you can hold to account afterwards.
Appreciate your advice; agree: I'll get in touch with them directly.
I am with BCV for a while now (I moved my main banking there after closing my PF account).
They are ok, no big issues, wasn't hit by hidden charges until now.
I use their maestro, e-bills and transfers.
Online banking is a bit old-school, but some improvements are coming from time to time.
I do not use their mobile banking.
Overall, I recommend as one of very few free options (that includes a debit card).
One note, unlike many cantonal banks, their gurantee is capped at 100k just like in normal, non-cantonal banks.
I've been with the BCV for many years, but as others have said, particularly when it comes to private banking, it's a question of how you get on with your advisor. We've had the same advisor for a number of years; he knows us and will not flog us products which he knows we're unlikely to be happy with. For him it's obviously a question of long-term relationships, not making a quick commission on a single product.
It's a solid bank, but if you're after a quick buck, speculative investments and similar, you might do better elsewhere.
I have it for years, it's good. Some caveats you have to be aware:
- despite it's name it's not a cantonal bank, it's a private bank, VD doesn't guarantee anything (though once upon a time VD decided to save BCV when they lost a lot in Greece)
- their Maestro is way better than PF debit card, much higher ATM withdraw limit and better (lower) fees abroad
- no fees for current account
- stay off from savings account, no interest and the money would get blocked for months
- current account (or perhaps the total assets) are insured only by FINMA, which is 100k CHF
- everything else works like in a swiss cuckoo clock, perfectly
same here... we also have our mortgage with them and have been through one renewal - easy peasy