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Looking for reviews about Dukascopy

Why does it worth that much to have a bank account in Switzerland, compared to US or other western countries? (I'm a non-US/EU person)

I don't get it.

I made a post specifically on that topic. Look it up here: Non-Resident Business Banking: One Question To Increase Your Success

It boils down to negative rates - it costs them money to accept and keep your money. 1Way or another, they must make up the difference. This bank happens to do it with higher account maintenance fees.
 
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It boils down to negative rates - it costs them money to accept and keep your money. 1Way or another, they must make up the difference. This bank happens to do it with higher account maintenance fees.

Facts thu&¤#

If you hold money with them in euros it costs then -0.50% to hold your money with ECB. If you hold money in CHF it costs then -0.75% to hold money with SNB. So parking 100k euros with them they are having to pay 500 euros a year to ECB due to negative rates. They have to get that money back somehow.
 
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@John Dee - your posts are wrong and misleading. As @Marie Manila pointed out, you were basically doing the transfer process wrong, that's your fault (if anyone's) and before coming in here shouting and waving your hands, I think a call or live chat with the contact center would've spared you of the useless rant. I don't have any nice words to share about Dukascopy, as I've only used them for trading (FX), and though they've always been fair and responsive, I believe there are better ways to trade out there.

My point was that it shouldn't be qualified as 'shady', regardless of personal opinion, since not only it is a regulated bank, but also a part of the depositors' compensation scheme within the SNB, let alone basically a free-to-use bank, particularly using their mobile app. I myself prefer Swissquote because of the a) market cap and financial strength; and b) ability to trade, at a very low cost, multiple financial instruments as well as having a multi-currency account to diversify with by default. And SQ is also a fee-free bank for online services (expensive otherwise if using any of their 'retail' services). That being said, for someone willing to spend 0 in commissions on high-street banks, these 2 are probably (along with Saxo Bank) the best alternatives, then there's the 'expensive' CIM Banque and it's CHF360 per year, which appear to be 'too much' for some light-skins here. I'd rather, however, pay CHF360 in service fees while being guaranteed NO negative rates (as CIM does), than being charged -0.75% on a regular basis, maybe it's just me being a bit picky, I don't know.
 
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Hey, thanks for sharing your experience. What are the fees?

You can check the fees here: Dukascopy Bank

A short overview:
Account maintenance: free

Incoming SEPA: free
Outgoing SEPA: 2,30 €
Incoming SWIFT: less than 4 CHF (don't know the exact fee of the intermediary banks)
Outgoing SWIFT: 15 CHF/20 € (SHA)

Issue of phyiscal creditcard (VISA or Master): 15 CHF per denomination (USD, CHF, EUR, GBP possible)
Issue of virtual creditcard (VISA or Master): 7 CHF per denomination (USD, CHF, EUR, GBP possible)
Monthly service charge per card: 1 CHF
 
I also confirm that I have not had any problems with Dukascopy, only that they have established ridiculous limits on incoming funds (less than USD 10k per quarter).

I have added funds from third parties, from my own bank accounts and withdrawn into other own bank accounts without problem, I have never withdrawn to third party bank accounts.

Today I saw a notification that also withdrawals to extern visa cards are now available (before only mastercard).

They also have a good currency exchange rate (0.5% of fees). The visa card issued by Corner bank (CHF or EUR) and as already mentioned above works well.

I am also of the opinion that Swissquote is much better than Dukascopy and for those who want to make only transfers between own bank accounts, I advise also the broker strateo.ch with bank license like Saxo and without fees.
 
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How is the approval process with this bank, easy or the same as any other bank lots of documents and KYC ?
 
The approval process of the account is very easy through a video call, but the complicated in my case was to be able to increase the limits, they asked me for many documents as proof of income that in the majority were rejected, such as freelancer income or dividends. The only thing they accepted was the income from real estate investment.

They seem to like only employee funds from a well-established company.
 
I want to correct myself here.

In the end I was able to transfer out money from DukasCopy account indeed, but I can say that app is very much misleading. And what's the deal with that DukasCoin ? Why would any new non-shady bank risking on-boarding reputation with some own crypto s*it coin, which is not even traded nowhere ?
 
I'm looking at the thread title and it says " Looking for non-shady alternatives to Dukascopy" - So I wonder why we keep discussing Dukascopy? I may change the title if no alternatives are mentioned.
 
I want to correct myself here.

In the end I was able to transfer out money from DukasCopy account indeed, but I can say that app is very much misleading. And what's the deal with that DukasCoin ? Why would any new non-shady bank risking on-boarding reputation with some own crypto s*it coin, which is not even traded nowhere ?
If they cared about their reputation, they wouldn't have such shitty apps. I am speculating but it seems like they're trying to hide their illegal activities or actors by paying peanuts to peasants for them to increase activity in their platforms. Kinda like bitcoin mixing.

I'm looking at the thread title and it says " Looking for non-shady alternatives to Dukascopy" - So I wonder why we keep discussing Dukascopy? I may change the title if no alternatives are mentioned.
Very good point.
 

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