UBS Googled my name, found someone with the same name who was prosecuted for securities fraud in the US, had the audacity to call and ask me if I had been connected to his company, and promptly binned my credit card application.  No denial letter.  Those UBS people are goofy.

Postfinance charges no fees.  Online services including payments are free.  Money transfer abroad is the best rates I have seen offered by any bank around here.

I opted for UBS over Postfinance due to UBS handling English well.  Postfinance wasn't quite up to speed in that dept.  Otherwise I'd have went with them.

When I came here, I needed to get my money transferred over from New Zealand, and therefore needed to open a bank account ASAP for that, since I did not have much hard cash.

Both UBS and Credit Suisse refused to give me an "appointment" ot open a bank account for the next 14 days, when I said I am sorry I cannot wait that long, since I need my money from overseas here, they said sorry they cant help that.

On getting a tip from a friend, I went to a Post Office branch, near my office, had a bank aacount in 15 minutes after that, as well as my money transferred within 2 days!

The staff at the Post are definitely very friendly, and most of them speak english. Also if you call up the hotline for telebanking at the post, they ALL speak english.

Can definitely recommend POST Finance to everyone :-)

Cheers;

Andrash

...whatever Andrash K said, "ditto"... except change New Zealand to India...

Interesting topic!

Does anyone have experience with the bank Raiffeisen?

I need to open a bank account soon and I am still hesitating mainly because of this special offer from UBS for Glocals members...

Thanks

I have a bank account with Raiffeisen. Very friendly, very satisfied with their online banking, never had a problem. They even have a "refer a friend"-opening account referral system - just in case ;-)

from all experience so far, I have been told that the banques cantonales are ok, raiffeisen and postfinance.

ging to leave UBS soon too, for the same reasons many of you mentionned.

but if you have reproaches regarding UBS or credit suisse, you are probably not (or no more) their most valuable customer... would they still be there? and making prfits?

I have actually NEVER had problems with UBS, have always received an excellent service. When I wanted to open an extra savings account I just wrote my normal advisor, she had in the mean while changed job within UBS but still offered to handle everything in regards to opening my account....

Have been a customer there for a year soon though and will consider changing banks if they dont do something about the fees.... 

post finance is fine, and, they don't oblige you as a US citizen to sign any confidentiality waiver. also,

your " 

Otherwise I'd have went with them."

i don't think your english is up to speed enough, to stand in judgement......it should be i'd have gone with them!

Thanks.

Wow, I nearly overlooked the scribblings of a grammar-policeman who knows the difference between the simple past and the past participle yet cannot find the Shift key.  He definitely knows the location of the comma -- perhaps a little too well.

Can you tell me more about the benefits of their referal system ???

Could be interesting and balance the offer of UBS!

Thanks :)

no guys, i wasn't playing grammar police but rather focusing on the humor in your statement. get it? maybe not.

Hi Im not sure this is very fair. Ive been a customer of UBS bank for nearly two years. I have never had an issue with them. They have always been extremely freindly and helpful, when either asking for help, or needing to resolve an issue. I know that this is just your perception , and is an account of what happend to you . I feel the charges are pretty reasonable and fair. One persons opinion does not make it a bad bank. You have headed your post as Be aware of Bad Service, this may well have been true in your case, but is not true in general. UBs free offer for the First year is a good one. If your not happy with it, then you have a choice to move. As you said youve been a customer for 16 years, and were too lazy to move. That doesnt make it a bad bank, and neither does your issue with the bank make it bad either. Yes its left a bad taste in your mouth, becasue of what happened. But you give no details about it. By the way i am in no way related to UBS nor have i ever worked there. Its just my POV.

I've been a UBS customer for almost 10 years. I've never had any problems with them and have always found all the staff that I have come into contact with really helpful.

I never go into my own branch so they can't know whether or not I'm a valued or long time customer. The last time I visited a branch (only a few months ago) I was stood in the queue behind some-one who was taking ages. Another employee happened to walk out of his office and noticed that I was looking a bit impatient so took me back into the office and sorted out what I wanted really quickly and efficiently (and in English)

One way that might help you to get closer to the 10,000 CHF limit and avoid any charges is to put your rent deposit in a UBS Rental Surety Savings Account if your Regie allows this.

I'm not related to UBS in any way at all, I'm just pleased with the service that I always get there

I have re-checked with Raiffeisen about the referral program. They took it out. Nevertheless, I satisfied with their services. I forgot to say, you have free entry in all Swiss museums when presenting your Raiffeisen card. I've already visited some of them and really enjoyed this service.

Are you sure? I see everything translated into English on PostFinance. They are undoubtedly the best and cheapest, although not the quickest to deal.

PostFinance does have fees (annual) depending on your balance (under 7500), but we're talking only 3 CHF/month.

Otherwise, I'm quite happy with them.

correction from above. not "annual" but "monthly".

But, 36 CHF/year is a lot less than 35-40/month.

well, i`ve been with UBS (looks like marriage) for 3 years now, and never ever had a problem. but i should confess that i only needed assistance very few times (card not working, international transfers, online reader broken), and all the time I had efficient people talking to me. In fact, now i remember this time i got problems acessing online banking in brazil, and the guys helped me anyway. even calling me there from switz....

Unfortunately anyone can have bad experiences in any service, doesnt matter if we are talking popular or exclusive/damn expensive ones. In fact, in my home country we have a very good law regarding customers, and we have this annual list of "bad service enterprises", quite handy. At least, one can compare the best and worst ranked, and make a choice based on this.

It would be great though to have a read on some survey results on customer satisfaction through a third party.

Has anyone heard of any such survey?

Cheers;

Andras

Seems like people mostly go to the big UBS office (rue de Commerce or whatever). Guys, affiliates all over town have advisors, who are very helpful! They take time to explain you all the packages, and help to choose the best option for you. So far so good for me.

Funny, but when opening an account I could not get an appointment with PostFinance that easily!!! Everyone was busy.

Hey! Just to add a point of view, I openned an account with UBS few months ago and have been impressed about the poor quality of service and the lack of skills from the "supposed to be" advisers. I have an apointment with BCGE soon to switch hoping for better services...

Note that Postfinance is not a "real" bank. It might caused the problem in some administrative matters...

@martyna that sounds like useful information, but can you please elaborate? Why is it not a real bank? What problems might occur?

Zonks mate:

the Postbank may not have corresponding agreements with so many other banks... so it woudl afffect you as follows:

- cash machine withdrawals... esp overseas. If there is no agreement then your card wont be randomly accepted like a normal maestro is now. (check with the postbank 1st to see how widely you can withdraw cash)

- international money transfers may be more expensive due to correspondent banking agreements

- dont know about internet banking facilities

-  worth checking this all out at the post office, but for an international playboy like yourself it may be worth having a proper BANK bank account rather thana post office account.

Well,

I just received new appartement (lucky me!).

Unfortunately, for some reasons, "la  régie" do not accepte the bank guarantie from Postfinance, as it's post services compagny with banking services: it's still not a bank.

Well, anyway, I was obliged to open spare account in UBS, to resolved this problem.

My fitness club refused also the mothly payment from my Post account and obliged me to provide Credit Card number.

That's why I said: it might....

UBS may look good on the outside, but they rip you off on the inside, notably on exchange rates, transaction fees, grossly over-the-top cheque cashing fees, below market interest rates, etc.  How else can the afford to pay each and every employee an "average" bonus of over CHF 100'000 - yes its at yours and my expense !!!

If you want a good mortgage, go with Raiffesen, Migros, or a cantonal bank.

If you have any dealings with UBS in a corporate context, check the amount of fees you are paying for guarantees, postage, back-office trading, ciustodian fees, etc - they are absolutely COLOSSAL at UBS and at CS.  In the old days, your banker was a partner, now UBS has changed that to "wanker".

With respect to making withdrawls overseas, as long as your bank card is a MESTRO, then you will have no problems. 

Basically, UBS is a disgrace for the Swiss banking industry.

I agree to have a problems with the withdraws as well.

Make sure to never get lost any of your cards, cause I needed 4 hours to finally talk with somebody from Postfinance to block my credit card !!!!!! (Postfinance Visa).

For the e-banking, I was very happy,.

In the worst moment like stolen card- only then you can recognise the real value of services....

@martyna thanks for the extra info. for the record, i wasn't doubting you in the least, just wondering.

@charlie i guess i've adjusted to what PF does permit and forget simple things like how few ATMs they have here and throughout CH. Thanks for the tips.

Not entirely true. I am with UBS and and had a discussion with them about my credit and debit cards. They told me that they don't actually manage the cards service themselves, it's managed by a third party for Switzerland so all cards with Master Card or Maestro logos have equal rights and functionality regardless of the banck issuing them.

Other than that I did have a few small incidents with them over time and I can confirm that with the exception of an occasional motivated employee who goes the extra mile, their service is mostly shit. This includes me calling them to notify that I changed address and they confirming that they made the change while I was waiting on the phone, and still sending important documents at the old address 1 week after. Then again this is Switzerland and all services are shit.

My 2 cents.

Hi! 

I have a french account but need one in Switzerland. I don't really know which bank I should choose.. especially now, when i've read your tips. 

Any advice? I'd be glad to know what bank is the best to keep my money and my calm safe

Thx 

Banque Cantonal de Geneve or Vaud...whichever is closer to you...both fine and cheaper than CS or UBS.

I think this thread is getting out of hand.. money is safe as it is in any bank anywhere in the world.. they all have good and bad sides , depends on your perspective. We can all tell stories about our good and bad experiences with anything .. and as always changing your persepctive , turns it around ..

On top of high fees at UBS they treated me much worse when they realised my salary was actually not as high as they would imagine. Moreover, the second question they asked me when I was opening a bank account with them was about my total wealth... If you are not meeting their standards you will be pushed aside and treated literally in unpolite way. I do not know if all the banks in Switzerland are like that but UBS is the worst bank I have experienced so far from all the countries I have been to (and there have been quite a few of them).

I am working in a Bank and I deal with other banks from profession and personal prospectives.

1- If you need a bank to  receive your salary , pay you bills , ATM and credit cards , 3rd Piller , ..etc  the no. 1 without any doubt is Postfinance.

 2 -If you need a bank to have a Credit Card with zero fees annual ( Migros ) GE Money Bank. to use mostly in Switzerland .

3-  If you need a bank to have small safe to but your jewelry  and to but some money aside go to BCG

4 - If you have a small company and/or you have relations with small cities / villages over Switerland go to Raiffeisen

5 - if you want to have loan to buy real estate in Switzerlnad ( check UBS , BCG , BCV and even Postfinance )

6 - if you need to invest huge amount of money  check Private banks in General before you chose one of them ( i.e HSBC , UBS , Credit Suisse .and other small private banks as well )

7- if you couldn't find where to go after than come to US !!!!

M 

Interesting points MrGasoline.

I would add with point 6. there is a distinct difference between how you are handled and how products are pushed to you by private banking businesses of HSBC or Barclays who I consider as retail private banks with their own internal agenda based product (in many cases pushed from their Investment Banking Structured products and a desire to create revenue). There is always this question and danger of private banks selling internal products.Only the top end of banks sell the best products to the top end of the earners in the population. Dependent on risk. It becomes a deep topic non related to this agenda.

Postfinance btw is in essence BCV who is handling this product brand. BCV are well rated. Far better than BCGE for customer handling from friends I know.

I just had to write to this regarding the information in the UBS banking guide on the Glocals website.  In the section of the guide titled 'Opening an Account' the documents listed as necessary are some form of formal ID (I used my UK passport) and an employment contract (which I have).  Then again in the FAQ section there is specific mention to not needing a permi in order to open an account with UBS.  I used the contact form on the website to ask the question of permits directly and am yet to receive a reply.  Taking the guides advice then, I took my documents in to the Geneva branch of UBS (opposite the train station) and tried to open an account only to be told in no uncertain terms that I needed to have a permit.  I then took the advice of my employers and others and tried the Nyon branch the following week only to be told the same thing.  The 'gentleman' on the reception desk even went so far, on hearing that several people I knew had opened accounts in both branches before getting their Swiss permits, as to ask me how much my associates had deposited!  I am legally employed in Switzerland, awaiting my permit and now a satisfied customer of Postfinance.  Maybe the 'Banking Facts' need to be slightly adjusted to allow for the prejudice and snobbery displayed by UBS staff.

I am with UBS because I can get the student account and as such everything is free. And I dont have to pay the frontalier 40 per month for people with residency outside of suisse because i am in a neighbouring country AND have regular salary deposits into the account. I havent had any problems with UBS and when I had some requests they always replied and were polite. But if I had to pay 15 franks or more per month I might have opted for another bank...

UBS and a number of other Swiss banks are a nightmare. Their innumerable fees for everything from account 'maintenance' to fees for withdrawing cash at the ATMs are a slap in the face of its customers. 

Want to get advice for placements? You'll wait on the red sofa for about 30 min, and be greeted by an arrogant twentysomething guy with slicked back hair who thinks he's god's greatest gift to mankind. 

With their stunning 0.25% interest rates (they've been that low for as long as I can remember, even in times of a booming economy), you'll be sure to lose more money on your account than it earns. 

All in all, if you don't come in with 5,000,000CHF, you'll be treated and exploited. Look for smaller regional banks, or a postal account rather than handing your money to these people. 

Hi All!

If UBS is promoted here on Glocals, its just because certain people on this site are putting their commission in their own pocket.

Me, as a Swiss, would absolutely not recommand UBS. 

 Have a nice weekend

Perhaps he's imitating the style of e.e. cummings?!

"Knowledge is a polite word for dead but not buried imagination."