Hi there,
Raiffeisen Bank is a collective of more than 300 Swiss mutual banks. Although these banks share the same branding, ATM network and online banking portal (MembersPlus), products as well as terms and conditions vary between banks.
If you expect to relocate within Switzerland fairly often and prefer to work with a single bank with identical products countrywide, then nationwide retail banks like PostFinance, UBS, Credit Suisse and Migros Bank give you that option.
Banking with Raiffeisen has these benefits over larger Swiss banks:
1. Deposits at Swiss banks are guaranteed up 100,000 Swiss francs per customer and bank. Because Raiffeisen Bank is made up of many separate banks, you can hold accounts at various Raiffeisen banks and each will benefit from up to 100,000 francs of depositor protection if the bank goes bankrupt.
2. Swiss bank guarantor Esisuisse only guarantees up to a total of 6 billion Swiss francs per bank. Because large, nationwide banks manage far more than that amount of deposits, the chance of your benefiting from the full deposit guarantee in the event of bank insolvency is very low. Because Raiffeisen is made up of hundreds of individual, regional banks, there is a good chance that your specific Raiffeisen bank manages less than 6 billion francs (though it is worth asking).
3. Raiffeisen is a collective of regional banks. A regional bank may have a more thorough understanding of local banking needs and financial rules and regulations than a large corporate bank.
4. Raiffeisen has a unified ATM network and online banking portal. It also has a network of branch offices across the country which you can get support and withdraw money at. This means that you enjoy the above-mentioned benefits of regional banking while benefiting from the benefits you would get with a nationwide bank.
Unless you need specialized services, the primary factor in deciding which bank to work with is the cost. In some case, it may be beneficial to use specific products from different Swiss banks. You can compare the cost of Raiffeisen services with those of services at other Swiss banks using the moneyland.ch banking comparisons.
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Best regards from Moneyguru
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