PostFinance is operating in a challenging economic and regulatory environment. As interest rates have been low or even negative for years, its interest margin is being eroded. One reason for this is the Postal Services Organization Act, which prevents PostFinance from issuing its own loans and mortgages. The policy decision made by the Federal Council on 5 September 2018 will not affect this situation for the time being. PostFinance will therefore introduce industry-standard prices for certain products and services which no longer cover costs from 1 January 2019.

“PostFinance believes that managing finances should be as easy as possible and that it should offer fair value for money. That will remain the case in future,” says Hansruedi Köng, CEO of PostFinance. “I know that our customers will not be enthusiastic about the new prices, and this is understandable. However, in light of the margin erosion and the significant decline in profit, we can no longer afford to provide services at prices which fall well short of covering our costs. We do however offer alternatives which would allow our customers to avoid some of the new fees.”

The main price adjustments from 1 January 2019

• Account management fee of 5 francs for private customers with assets of over 7,500 francs. Only private customers with assets below this amount had to pay the fee in the past.
• Customers who have a private account plus and total assets of over 25,000 francs pay an account management fee of 5 francs per month (previously free of charge).
• Monthly paper account statements will cost 1 franc per month (previously free of charge).
• Account balance information over the telephone and at the branch counter (without the PostFinance Card) will cost 4 francs per request in future (previously free of charge).
• Business customers will pay 30 francs per year for each PostFinance Card (previously two cards free of charge).

Save on fees with investments, mortgages and digital products

PostFinance private customers who have investment products (including retirement funds) of at least 25,000 francs, life insurance or a mortgage, will continue to enjoy account management free of charge. Customers who carry out their banking transactions online can also save money: balance queries remain free of charge in the PostFinance App and in e-finance as well as at the Postomat and with the PostFinance Card at the branch counter. The electronic monthly account statement is also still free of charge.

Customers who conduct their banking transactions online benefit from unique protection at PostFinance. PostFinance is the first and so far only Swiss bank to stipulate in the Subscriber Conditions for its online banking service (e-finance) and its fast service (PostFinance App) that it will fully cover financial damages arising from technical attacks, such as phishing or malware, up to an amount of 100,000 francs per incident. With this approach, PostFinance provides its customers with security and eliminates obstacles that prevent them from switching to online banking.