1.8% interest with WIR bank

[easterd2]

@letthrmusixsaveyourlife This is not true. WIR has CHF and CHW. The account is in CHF though.

 

[letthrmusixsaveyourlife]

@easterd2 I Never Said that they don‘t have booth, but the idea is only to get absorbed into WIR, 20k and 6 months are already way more restrictive than any other bank at 1.8%

 

[easterd2]

@letthrmusixsaveyourlife Cembra has 20k for six months at 1.85. Who does better?

 

[anthony70]

@letthrmusixsaveyourlife No it's not. It's in CHF.

 

[letthrmusixsaveyourlife]

@anthony70 Yes the Account and already with very restrictive exit (20k,6months)
Good luck there, the comment higher interest higher risk isn‘t wrong here, and if you work in trade WIR might be even a good idea as it‘s accepted there.

The WIR Bank, formerly the Swiss Economic Circle (German: Wirtschaftsring-Genossenschaft), or WIR, is an independent complementary currency system in Switzerland that serves businesses in hospitality, construction, manufacturing, retail and professional services. WIR issues and manages a private currency, called the WIR franc, which is used in combination with the Swiss franc to generate dual-currency transactions.

 

[anthony70]

@letthrmusixsaveyourlife It says its on CHF and up to 500.000.

So where you you get your Infos from?

 

[letthrmusixsaveyourlife]

@anthony70 Read the terms 20k withdrawl any withdrawel of 20k influences the interest in year two

 

[sheep4christ]

@karenlly It’s a good deal if you are looking where to park money for some time in the short term. This the maximum you can currently get in CHF with a savings account.

I also think it is fair they ask you to wait 6 months for larger amounts as they are investing / loaning your money. Most likely they loan it for mortgages or personal loans, charge 3-5% and pocket the difference between that and 1.8%.

It’s also safe because it’s an account and it is protected up to 100k CHF by federal insurance. Bank WIR is a super solid cantonal bank anyway, so really little chance it could go belly up anyway.

 

[john57]

@karenlly 20k penalty-free withdrawal, careful there

 

[dingleberry]

@karenlly Couldnt we open more than one account and keep them under 20k ?

 

[karenlly]

@dingleberry You probably could but I haven't checked if there any gotchas