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This is difficult for clients who have saved a small fortune. According to information from “Finanz und Wirtschaft” (FuW Saturday edition, paid subscription), Postfinance plans to charge negative interest on balances of CHF 100,000 or more starting next year.
Not only is it accepted, but it is also desirable for customers to withdraw their money, according to the report. We are talking about client funds worth 30 billion francs that must be depleted.
No more systemic importance
Objective: According to the “FuW”, the Post’s financial institution expects that it will no longer be seen as systemically relevant after this course of contraction, and that equity will have to accumulate to a lesser extent.
The Swiss National Bank SNB defines systemic relevance through its position in payment transactions, market share, size, risk profile and networks.
Apart from that, according to the newspaper report, there are already internal restructuring plans if the revision of the Postal Organization Law fails. Obviously, this includes a significant reduction and a greater focus on banking and digital services.
Postfinance is silent
Post-financing refers to the CHF 250,000 limit in terms of penalty interest. “Our private clients pay credit fees of this amount,” the spokesperson said. “If something changes, we will inform affected customers in writing.”
The Postfinance spokesperson declined to comment on the “FuW” report and the penalty interest of CHF 100,000 or more. A denial looks different.
