1.8% interest with WIR bank

[karenlly]

Just got an email from neon announcing that WIR bank (their partner) is offering a savings account with 1.8% interest rate (https://www.wir.ch/de/produkte-loesungen/privatkunden/sparen/sparkonto-plus-2024).

Caveats:

1. Valid only until Feb 2025 (1 year)

1. Max withdrawal of 20k, need 6 month notice for larger amounts

Anything else you folks noticed? Would you consider this over other similar offerings like WillBe?

 

[slimjack18]

@karenlly Cler same 1.8

 

[fisher79]

@karenlly I saw it and think it’s a bad deal because your money is basically locked..

 

[lostcontroll]

@karenlly My wife & I got this email from Viac, and I'm reading through the conditions and see the 20k withdrawal limit.

My immediate reaction is pfff, this is BS, who would lock away money for 6 months for 1.8% p.a. ?!?

And she answered nonplussed: "But if you only put 20k in, you don't have this problem and keep all the flexibility, no?"

Did not even cross my mind... Wives are always right, folks!

 

[jeremyg3]

@karenlly Are there no fees in opening or maintaining the account?

 

[karenlly]

@jeremyg3 According to the product page, that seems to be the case

 

[justfortoday]

@karenlly Well, you need to pay to send an approved and stamped identify check thing, don't know the name in English.

There is no online online account opening, so either you open the account onsite in one of their branch offices with no additional fees (they don't have many branches though) or you can send it via posts but then you need this approved and stamped thing. Swiss Post is doing it but costs CHF 20 or so.

 

[blueshaz]

@justfortoday You can do the identity verification digitally, at least that was presented as an option for me.

 

[justfortoday]

@blueshaz Not when I asked last year in Nov. Either onsite and in-person in one of their offices or via post with the confirmed and stamped evidence, which comes with a cost.

Maybe they realized now that a digital option is required?!

When did they told you that a digital option is available?

 

[blueshaz]

@justfortoday There's now a digital onboarding process at least for Swiss people and people of some other nationalities. https://sob.wir.ch/sites/onboarding?language=fr&accountType=SingleAccount

 

[melinda2022]

@blueshaz I can confirm I did this completely digitally this week.

 

[sherryleaper]

@karenlly Viac also sent me the same email yesterday

 

[sheamusofcountycork]

@karenlly Cembra gives you 2%

 

[easterd2]

@sheamusofcountycork No, only 1.85 % Kassenobligationen are 2 %

 

[tracksteps]

@karenlly For me it's no deal. This is less than Inflation. I invest all my money I don't need. But if you don't want to invest your money in stocks this could be an option.

 

[jimbigheart]

@karenlly The higher the interest rates, the higher the risks.

 

[coder]

@jimbigheart Explain please. This is a swiss banc. Don‘t deposit more than 100k and everything is fine.

 

[letthrmusixsaveyourlife]

@coder It‘s wir an alternative currency

 

[easterd2]

@letthrmusixsaveyourlife No it is Swiss francs.

 

[letthrmusixsaveyourlife]

@easterd2 No the WIR Bank, omg this sub sucks so much…
Pay attention to CHF or CHW
You get the interesst just to get absorbed into the CHW Circuit, which also involves a Lot of business.

WIR = CHW. Der WIR-Franken erhielt 2004 den dreistelligen Buchstabencode CHW nach ISO 4217 in Entsprechung zur Landeswährung CHF (Schweizer Franken). An Laden- oder Hoteleingängen in der Schweiz wird mit dem WIR-Signet auf die Möglichkeit hingewiesen, die Leistungen ganz oder teilweise in CHW zu bezahlen.