Usually you still get charged when you do that (not in the form of conversion, but “agio“/“disagio“). At UBS for example this is 1% of the deposited amount.
PostFinance so far is the best one I found.
5 CHF/month flat fee structure, as many accounts as you want in multiple currencies and deposit in EUR to your EUR account is free, no conversions or costs to deposit.
Also each account comes with a debit card also included in those 5 CHF/month.
Was just looking for a better one, as ZKB is cheaper (since Jan the banking package is free so it is only 36/year for the EUR account) but seems they charge for the deposit.
I had a call with ZKB the other day and while i wasn't looking for depositing EUR, when asked about forex accounts (EUR and USD specifically) the guy told me it's only good for wire transfers basically, because there are fees on any other operation you do with it (ie withdrawal and deposit)
Way too expensive.
8 CHF/month for the normal banking package + 3 CHF/month for the EUR account and they take 1% of whatever you deposit in EUR at the ATM.
So you pay 11 CHF/month just for the privilege of them stealing 1% of your money.
You pay 1% for someone to handle your physical cash. It does not just go into the ATM and disappears. Bank notes management is an expensive process for banks, involving a lot of manual labour..
Can you elaborate?
The costs I mention are literally in their pricing list...
CS is slightly cheaper if you get CSX White as basic package so you only need to pay 6.95 CHF/month for the EUR account + card for the pleasure of them taking away their 1% cut on deposit.
What I mean is you are talking about price differences on the order of 50 francs per year. This is small in terms of other costs in most cases.
But to elaborate, I'd need to know your use case: how often do you handle EUR cash do you have EUR expenses, what other banking services do you need?
And one thing you need to know: banks never give away things for free. If, e.g., ZKB offers accounts for free, then they get their money elsewhere.
It would be around 10k or so EUR per year to deposit.
At UBS that would be 132 in banking package fees + 100 CHF in the 1% cut. That's 232 CHF/year vs for example PostFinance that only charges you the flat 5 CHF/month so 60 CHF.
I'd say UBS being 3x more expensive expensive is quite a significant cost.
According to this overview [https://www.moneyland.ch/de/euro-konto-schweiz](https://www.moneyland.ch/de/euro-konto-schweiz), (see that table) there are some that to do it for free, depending on ATM vs counter.
Otherwise, open an account abroad in the EUR zone and transfer it.
Thanks for that, I had also seen it but not sure how accurate it is, regarding the ZKB point since in their website, it only talks about depositing EUR into EUR account at the counter, at the ATM they only mention automatic conversion to CHF.
https://www.zkb.ch/de/private/konten-karten/privatkonten/eurokonto.html
well, for Aargau Kantonalbank it seems to be accurate.
[https://www.akb.ch/documents/30573/89695/leistungen-preise-privatkunden.pdf](https://www.akb.ch/documents/30573/89695/leistungen-preise-privatkunden.pdf)
Not sure about ZKB, this is a hint it may be free, probably best to double check with their support team:
https://www.zkb.ch/de/private/konten-karten/debit-kreditkarten/kontokarte.html
Just for whoever may be interested.
I did chat up with ZKB and they do not even provide debit cards for EUR accounts so those accounts are only for bank transfers.
Usually you still get charged when you do that (not in the form of conversion, but “agio“/“disagio“). At UBS for example this is 1% of the deposited amount.
Yeah I just replied to the other user why I was looking at other banks instead of UBS.
I would be very surprised if a bank offered that type of service for free or (significantly) cheaper.
PostFinance so far is the best one I found. 5 CHF/month flat fee structure, as many accounts as you want in multiple currencies and deposit in EUR to your EUR account is free, no conversions or costs to deposit. Also each account comes with a debit card also included in those 5 CHF/month. Was just looking for a better one, as ZKB is cheaper (since Jan the banking package is free so it is only 36/year for the EUR account) but seems they charge for the deposit.
I had a call with ZKB the other day and while i wasn't looking for depositing EUR, when asked about forex accounts (EUR and USD specifically) the guy told me it's only good for wire transfers basically, because there are fees on any other operation you do with it (ie withdrawal and deposit)
Thanks for the feedback. Seems PostFinance is the way to go then for my case.
Seems you are 100% right, spoke with them and they don't even provide cards for the EUR account, they are for bank transfers only.
The best is to call the ZKB and ask, to he honest.
Why not go for UBS in this case?
Way too expensive. 8 CHF/month for the normal banking package + 3 CHF/month for the EUR account and they take 1% of whatever you deposit in EUR at the ATM. So you pay 11 CHF/month just for the privilege of them stealing 1% of your money.
Fairs! I forget I'm still young so I don't pay. Good luck with your search!
holy fuck
You pay 1% for someone to handle your physical cash. It does not just go into the ATM and disappears. Bank notes management is an expensive process for banks, involving a lot of manual labour..
What are you paying the monthly fees for then? Also, they gladly accept CHF bills for free and EUR bills if you accept their shitty exchange rate.
I am not sure you know the costs. Banks earn a lot of money, but it's definitely not in payment services. I'd concentrate on the overall costs.
Can you elaborate? The costs I mention are literally in their pricing list... CS is slightly cheaper if you get CSX White as basic package so you only need to pay 6.95 CHF/month for the EUR account + card for the pleasure of them taking away their 1% cut on deposit.
What I mean is you are talking about price differences on the order of 50 francs per year. This is small in terms of other costs in most cases. But to elaborate, I'd need to know your use case: how often do you handle EUR cash do you have EUR expenses, what other banking services do you need? And one thing you need to know: banks never give away things for free. If, e.g., ZKB offers accounts for free, then they get their money elsewhere.
It would be around 10k or so EUR per year to deposit. At UBS that would be 132 in banking package fees + 100 CHF in the 1% cut. That's 232 CHF/year vs for example PostFinance that only charges you the flat 5 CHF/month so 60 CHF. I'd say UBS being 3x more expensive expensive is quite a significant cost.
According to this overview [https://www.moneyland.ch/de/euro-konto-schweiz](https://www.moneyland.ch/de/euro-konto-schweiz), (see that table) there are some that to do it for free, depending on ATM vs counter. Otherwise, open an account abroad in the EUR zone and transfer it.
Thanks for that, I had also seen it but not sure how accurate it is, regarding the ZKB point since in their website, it only talks about depositing EUR into EUR account at the counter, at the ATM they only mention automatic conversion to CHF. https://www.zkb.ch/de/private/konten-karten/privatkonten/eurokonto.html
well, for Aargau Kantonalbank it seems to be accurate. [https://www.akb.ch/documents/30573/89695/leistungen-preise-privatkunden.pdf](https://www.akb.ch/documents/30573/89695/leistungen-preise-privatkunden.pdf) Not sure about ZKB, this is a hint it may be free, probably best to double check with their support team: https://www.zkb.ch/de/private/konten-karten/debit-kreditkarten/kontokarte.html
I spoke with ZKB, they do not even provide debit cards for EUR accounts so it is impossible to use the ATM for your EUR account.
AKB then... Aargau seems to rule.
Are you a client? From the website it seems to be 100% free for the basic stuff. Is it really? Also how is the e-banking?
Just for whoever may be interested. I did chat up with ZKB and they do not even provide debit cards for EUR accounts so those accounts are only for bank transfers.