I have a quick question. I visited post finance for opening a new account and they mentioned that all accounts (except for the student ones) incur a monthly account maintenance charge of 10 CHF.
I was not in Switzerland for the last 2 years and closed my old Post finance account before I left. That time, there was only one charge of 5 CHF per month if the account balance falls below 7500 CHF, but otherwise there was no monthly charge.
When I asked, they mentioned that this is a new rule that started just 2 months ago. Is this information accurate ? Does anyone have any experience with this?
I believe the pricing is differential. But yes there is now a fee where once there was not.
There's also a monthly percentage if your assets are over a certain amount. Someone posted about that here a month or so ago. I got my letter and the amounts they mention are different to that posters - plus the letter said it is determined individually depending on your banking behaviour.
On the bonus side for Postfinance, they were pretty much the only "bank" to accept pauper newbies into this country AND offer an all english language service option online and via phone.
Anyone know if any of the other (cheaper) options do this as slickly?
Check the "How to save on fees" section in the link. If you use e-Finance and have email only (no paper statements) and keep 25,000+ invested in a fund or have mortgage / life assurance they refund up to 10 CHF of the fee, so Smart becomes effectively free and SmartPlus only 2 CHF.
I would switch to a real bank. I know of several people and multiple articles complaining about Post Finance and its business practices, or lack thereof.
I am one of the complainers. Opened an account the 20th of June, asked for T&C. They told me, I agreed, signed contract, received contract paper including the T&C for the account, transferred money through the e-app.
One week later 28th of June, they send a post- letter stating that from 1st of July, T&C change, including negative interest rates, increased monthly fee costs, and what-not.
It took me -20 seconds to go to the PostFinance, scream at the cashier for 20 minutes with the letter (obviously, telling her that it was nothing personal, it was against these scavenger's business practices), and close my account with them.
I am still battling with them to get back about 70 CHF on ' charged fees'. As a matter of principle, i will take the case to the Ombudsman.
As stated by EF'ers above, dont' go there -- go to a real bank.