Dukascopy is reintroducing debit cards
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Do you use this service for private / day to day banking, spending in shops pay bills or for trading some financials ?
I don't get it what they are, trading platform or a bank for private individuals ?
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I don't get it what they are, trading platform or a bank for private individuals ?
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Why I choose the Mentor Group Lifetime membership! 😎
SIGNATURE FOR SALE - ACCOUNT FOR SALE - MAKE AN OFFER BY PM
someone can answer? I would say they are both.
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I would also say that they can be used for both. But as they possess a standard Swiss banking licence (it means something), I am calling them a bank.
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
trading platform with a bank license (Weak in general banking services, too sensitive in AML)...
Better forget about this "bank". Locals do not use them since Ducascopy (the strange name adds to some sort antipathy) is even more expensive than the most expensive private bank.
Who on Earth would pay 0.5% maintenance fee for a simple USD account? And their funny withdrawal fees eek¤%& ?
The entire structure of this "bank" may be attractive for people who have no choice. All others have better options.
@CoinMaster
I read in another thread that you are about to move to Switzerland. Hope you picked a nice and low tax Gemeinde somewhere in the Innerschweiz. If you then open an account with either Postfinance or the local Kantonalbank you are well served. Do it like the locals do.
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Ducascopy = Dukascopy
Even autocorrect thinks it's a strange name 🙄
Last edited: Jul 25, 2022
I did not follow the full Dukascopy story with credit/debit cards but it seems to apply only to this Swiss Bankers Card.
Dukascopy Card still have the 2CHF monthly fee.
Does someone know the difference between these 2 cards?
What does it mean 10kCHF balance maximum balance?
Inside their app, do they separate the main account from the credit card amount?
If yes, just need to do some in-app transfers between the accounts I guess. So I am sure I do not understand that point.
Source (for MCA):
https://www.dukascopy.bank/swiss/fees-limits/#fees
Why? (It has its market niche.)
Generally it is true (although I know a few who do, mostly for EUR payments).
Private banking (savings) accounts are expensive, multi-currency (checking) ones IMO not.
It concerns savings accounts, checking are free.
I agree, withdrawals are too expensive.
Perhaps not NO choice but no better choice ”“ and that's it 🙂
Good recommendation, IMO.
Do you know the name of the founder? 🙂
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
I replied to a post of @CoinMaster who intends to move to Switzerland and asks if anybody uses this "bank" for day-to-day transactions.
Living in Switzerland and relying on banking with a tiny and quite susceptible organization for everyday banking would be naive -> Information about Dukascopy Cards :: Dukascopy News This would have never happened with any reputable financial institution (Postfinance, Kantonalbank).
Regarding fee structure * : I have never seen anything more convoluted than this. Take a deeper look and read carefully the fine print!
Btw., the checking account you mentioned is called Multi Currency Account and the only time this does not come with a maintenance fee is for amounts below 50k. Thereafter you pay 0.4% p.a. up to 100k. Everything above 100k has to be put into a so-called "Private Banking (Savings)" and attracts a maintenance fee of 0.5% p.a.
The biggest joke: They make a big fuss about being a Swiss bank. But their entire fee structure is based on USD. eek¤%&
If you want to run a bank in Switzerland you should use a neutral name, something which aligns with local culture. There are plenty of options.
A sensible owner would have done this. Read this old interview to get an idea about the character -> «Wir haben den Swiss Dream realisiert» .
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* = The fee structure of this "bank" is so obscure and convoluted that I might have overlooked something. Please correct if I got something wrong with regards to that!
@backpacker: Excuse me for some silence, I was on a short holidays...
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
In such a case, I am afraid it was just a misunderstanding. Sorry, I somehow overlooked this. I was thinking generally during my reaction.
Yes, I agree with you.
Yes, I know about this. (The name IMO does not matter.) It is true that for an average Swiss citizen the 50k threshold is really low (so in fact it is not free in most situations). But for the target group (that does not consist of locals) it might work.
They are not targeted to locals, obviously 🙂
Thanks for the link to the interview, really interesting. (I must admit, I have not finished it yet, as my German is really poor, so I am reading slowly /I do not trust automatic translators for such a text like personal interview/.)
To the best of my current knowledge, you are correct.
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
Postfinance and Kantonalbanken are clear favourites when it comes to everyday banking.
Sure, there are others but I do not see any advantage compared to Postfinance or Kantonalbanken.
Note: I am taking about day-to-day banking, not some fancy wealth management.
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