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Swiss banks are less and less interested in their customers’ savings. Those affected are the children who murdered their piggy bank. But there are also savers who want to do good with the money they raise. A true Lucerne Raiffeisen customer. If he gets five francs in the cash register, he puts it aside. For a good cause, as the Zentralplus portal writes.
He collected them for two years. In the end, he paid the 111 five francs he collected into a machine to donate to a charity. Then came a nasty surprise: The bank charged him 17 francs for this service. Fees amount to three percent of the amount paid. “It used to be free and you don’t even need staff to count 111 coins. I call it pure robbery,” the customer tells “Zentralplus”.
roll on paper
At other banks things don’t look so good: Postfinance has dismantled 43 ATMs that used to be not just five francs, but where you can deposit coins and transfer them to your mail account. Since then, Postfinance customers have had to painstakingly wrap their money in paper and then deliver it to a post office counter; no fee is charged. A similar regime applies to Migros Bank as well. However, Migros Bank does not collect any fees.
On Blick’s question, Postfinance said, “It’s very expensive and complicated for Postomats to work with the deposit function.” In addition, the number of users has been decreasing in recent years. “It didn’t make sense for Postfinance to continue operating its deposit machines due to negative profitability.”
“High administrative effort”
So what does Raiffeisen, who is normally very close to the public, say? “Money deposits pose a relatively high administrative burden for Raiffeisen banks,” said a spokesperson for Raiffeisen Switzerland’s “Zentralplus”. Raiffeisen Switzerland therefore recommends that regional banks charge fees.
The recommended amount when depositing money into the machine is three percent of the amount paid. But at least three francs. However, regional banks are free to decide whether to actually implement it. If you want to deposit the money you collect in the safe, it becomes even more expensive. Five percent of the fees will then be paid.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
