FAQs

PostFinance Ltd is one of Switzerland’s leading financial institutions. Here you will find answers to the most important questions about the company

  • PostFinance will continue to offer key financial products with fair conditions. Changes to the product range are possible at any time, but are not related to PostFinance’s conversion into a private limited company. The performance mandate set out in the Postal Services Act continues to restrict PostFinance’s business activities. This means that PostFinance will continue to be able to issue loans and mortgages only in cooperation with third parties in the future.

  • With PostFinance’s change of legal status into a private limited company, PostFinance customers were automatically transferred to PostFinance Ltd. Business relationships and contractual agreements have been taken over by PostFinance Ltd (universal succession). On the date of conversion, PostFinance revised its General Terms and Conditions (GTC) and Subscriber Conditions (SC) for its key products, and customers were informed at an early stage.

  • No. PostFinance is and will remain a Swiss financial institution. It is not planning to develop an international business. PostFinance will however maintain its existing key role in international payment transactions.

  • PostFinance Ltd is wholly owned by Swiss Post Ltd, which in turn is wholly owned by the Confederation.

  • PostFinance remains PostFinance, even as a private limited company – a leading Swiss retail financial institution for all customers who want to manage their own finances. This includes customers with less income and fewer assets. PostFinance will continue to justify the high degree of confidence it enjoys among the general public and Swiss SMEs.

  • As a private limited company with a banking licence, PostFinance is still owned by Swiss Post and has been funded by equity in accordance with the applicable banking regulations (Basel III). Customer deposits are secured in the first instance by the equity held by PostFinance Ltd. In addition, customer deposits up to a maximum of CHF 100,000 are guaranteed by the depositor protection scheme set out in the Banking Act. What is more, a limited state guarantee will continue to be provided by the Confederation for five years after the new Postal Organization Act has come into force.

  • With its banking licence, PostFinance is subject to bank client confidentiality. However, PostFinance will continue to be legally obliged to provide a universal service in payment transactions. At the same time, any guarantee of smoothly functioning payment transactions in their current form would not be possible without some limitation of the rules governing banking secrecy. For this reason, PostFinance has set out its approach to banking secrecy in its General Terms and Conditions (GTC) and obtained the consent of account holders and customers (see section 24 of the PostFinance GTC). Under this provision, the existence of an account relationship and the account description (i.e. name/company, residence/domicile and account number) may continue to be disclosed where they are required to execute a payment order or carry out a transaction. Details of business relationships will continue to be treated strictly confidentially. Compared to the previous situation or to the rules governing postal secrecy, there is therefore no change for PostFinance customers.

  • PostFinance is an extremely healthy financial institution with a very stable business, as confirmed by its rating with Standard & Poor’s (AA+). As a private limited company, it is wholly owned by Swiss Post, which in turn is owned by the Swiss Confederation. PostFinance Ltd is subject to regulation by FINMA and has a banking licence in accordance with the Banking Act. Customer deposits up to a maximum of CHF 100,000 are guaranteed by the depositor protection scheme set out in the Banking Act. A limited state guarantee of up to CHF 100,000 per customer will also continue to apply for five years after the new Postal Organization Act has come into force. In addition, funds held by retirement savings foundations (2nd and 3rd pillar) are also protected up to CHF 100,000. As a result, our customers’ assets will be in equally safe hands in the future.

  • No, PostFinance Ltd has not been privatized. All PostFinance Ltd shares are wholly owned by Swiss Post Ltd. No stock market flotation is envisaged.

  • PostFinance chooses long-term, high-quality investments for customer deposits and will not take any greater risks as a private limited company than it has done in the past. Customer deposits will continue to be invested prudently in full awareness of the risks on the international money and capital markets.

  • The highest governing body is the Board of Directors, which consists of 7 members. The 8-member Executive Board (including the CEO) is responsible for the operational management of PostFinance Ltd.

  • As a private limited company, PostFinance will remain an attractive alternative to other banks. PostFinance continues to offer simple products with fair conditions. Any changes to these conditions bear no relation to the change in legal status and the banking licence as a bank and securities dealer.

  • Yes, as a private limited company, PostFinance continues to fulfil its obligation to provide a high-quality universal service for payment transactions throughout Switzerland. This includes the ability to make inpayments at post offices.

  • Individual products offered by PostFinance in cooperation with third parties are covered as follows:

    PostFinance Ltd offers the retirement savings account 3a in cooperation with a partner. It has established the “PostFinance Retirement Savings Foundation 3a” with its partner, UBS AG, especially for this purpose. The 3a funds that are deposited as savings are invested with PostFinance Ltd by the retirement savings foundation. If PostFinance Ltd were to become insolvent, funds in retirement savings account 3a would enjoy privileged protection of up to CHF 100,000 per customer (regardless of other deposits). If a customer has both a retirement savings account 3a and a vested benefits account with PostFinance Ltd, the maximum privileged protection of CHF 100,000 applies to both products together. Assets in retirement savings account 3a that are invested in funds are protected as segregated assets in accordance with the Collective Investment Schemes Act (CISA). If the “PostFinance Retirement Savings Foundation 3a” were to become insolvent, bankruptcy proceedings would be carried out as per the usual legal procedure.

     

    PostFinance Ltd offers vested benefits accounts in cooperation with a partner and has entered into a contractual relationship with “Rendita Vested Benefits Foundation” for this purpose. When vested benefits assets are deposited as savings, Rendita invests them with PostFinance Ltd. If PostFinance Ltd were to become insolvent, assets in vested benefits accounts would enjoy privileged protection of up to CHF 100,000 per customer (regardless of other deposits). If a customer has both a vested benefits account and a retirement savings account 3a with PostFinance Ltd, the maximum privileged protection of CHF 100,000 applies to both products together. Assets in vested benefits accounts that are invested in funds are protected as segregated assets in accordance with the Collective Investment Schemes Act (CISA). If Rendita Vested Benefits Foundation were to become insolvent, bankruptcy proceedings would be carried out as per the usual legal procedure.

    In the case of life insurance policies (cooperation with AXA Winterthur), insured persons enjoy privileged protection. Insurance companies are obliged to cover claims under life insurance policies at all times as these are regarded as tied assets. If AXA Winterthur were to become insolvent, securities (mathematical reserve and surplus share) from ongoing contracts would primarily be transferred to another insurance company which would take over responsibility for continuing the policies. If no transfer to a new insurance company takes place, the entitled persons receive the contractually guaranteed redemption value. Insurance companies are subject to supervision by the Swiss Financial Market Supervisory Authority (FINMA), which ensures the solvency of insurers and protects insured persons against abusive practices.

    Investment funds (cooperation with UBS AG) are segregated assets and are protected in accordance with the Collective Investment Schemes Act (CISA) in the event of UBS AG becoming insolvent. PostFinance Fonds (including retirement funds) are therefore also covered by this protection. Because they are invested in securities that are subject to price fluctuations, the value of these funds may decline at any time.

    E-trading securities and account balances are deposited with PostFinance. In the event of bankruptcy of the bank, assets invested in securities (shares, bonds, etc.) are segregated from the bankruptcy estate in accordance with Art. 37d of the Banking Act and issued to the customer. In accordance with depositor protection provisions, money in PostFinance accounts is protected up to a maximum of CHF 100,000 (or the equivalent in a foreign currency) per customer.