Swiss Francs

[kerryk]

Swiss Francs.

I bank in Singapore and have foreign currency accounts. I would like to have an interest paying account in Swiss Francs but my bank does not offer interest on Swiss Franc accounts.

Does anyone know of a bank that offers interest in the 4 to 5% range in Swiss Francs?

I live in Thailand and don't really want to travel to open the account.

[Soju]

HSBC offers foreign currency accounts, but you must have a minimum of 15,000 USD or other currency equivalent to avoid a monthly service charge. They pay 4% for a 3-month time deposit in USD, and varying rates for other currencies. They allow Swiss Franc accounts, but they only show a dash ('-') on their website for the interest rate on Swiss Franc time deposits. I don't know if that means the interest rate is 0% or if it means you have to inquire about the rate.

I just checked HSBC's offshore banking account, but they pay less than 1% interest on Swiss Franc time deposit accounts, so probably not what you're looking for. Looks like Swiss Franc accounts don't pay much compared to USD or AUD accounts.

Edited July 26, 2006 by Soju

[MattFS218]

the overnight rate for CHF (swiss franc) is somwhere in the .5% annually rate...which is the reason your bank does not offer an interest bearing swiss franc account. you could always put your money in new zealand, or australian dollars which pays around 5-6% interest.

[bendix]

Bank of New Zealand is currently offering 7.2% for 150 day term deposit. Similar banks in NZ are offering close to that . . around 6.9- 7.2%.

Of course, you have the currency risk to deal with but those rates are worth it.

Aussie / NZ cross was 1.05 back in January. Today it is 1.21 and expected to reach 1.30 sometime later this year. But it will bounce back.

[libya 115]

I have a fixed deposit account in CHF with Lloyds TSB offshore Isle Of Man. Minimum deposits of 25,000 GBP = currency deposited are required.

Interest rates change daily on currency fixed deposits, minimum 3 months, and upwards better rates are offered.

CHF is inflation proof: rather like Gold. Every wise person's portfolio should include CHF. upto 20% IMO.

Comments appreciated.

[malcolminthemiddle]

CHF is inflation proof: rather like Gold. Every wise person's portfolio should include CHF. upto 20% IMO.

Could you kindly explain how that works?

Thanks in advance.

[scoobyguy]

Bank of New Zealand is currently offering 7.2% for 150 day term deposit. Similar banks in NZ are offering close to that . . around 6.9- 7.2%.

Of course, you have the currency risk to deal with but those rates are worth it.

Aussie / NZ cross was 1.05 back in January. Today it is 1.21 and expected to reach 1.30 sometime later this year. But it will bounce back.

[/

Is it possible for an englishman living in Thailand to open and operate a NZ bank account, and do they deduct tax from theses quoted saving rates

Thanks

[libya 115]

CHF is inflation proof: rather like Gold. Every wise person's portfolio should include CHF. upto 20% IMO.

Could you kindly explain how that works?

Thanks in advance.

Do you doubt the power of the CHF? Try this;

http://ees.net.nz/trading/swissfranc.htm

Read about the history and strength of the CHF.

[malcolminthemiddle]

CHF is inflation proof: rather like Gold. Every wise person's portfolio should include CHF. upto 20% IMO.

Could you kindly explain how that works?

Thanks in advance.

Do you doubt the power of the CHF? Try this;

http://ees.net.nz/trading/swissfranc.htm

Read about the history and strength of the CHF.

Doubt the power of the CHF? No not at all. Just wondered how the CHF could be inflation proof in practical terms since every country has a different rate of inflation and a different currency?

[libya 115]

CHF is inflation proof: rather like Gold. Every wise person's portfolio should include CHF. upto 20% IMO.

Could you kindly explain how that works?

Thanks in advance.

Do you doubt the power of the CHF? Try this;

http://ees.net.nz/trading/swissfranc.htm

Read about the history and strength of the CHF.

Doubt the power of the CHF? No not at all. Just wondered how the CHF could be inflation proof in practical terms since every country has a different rate of inflation and a different currency?

By inflation proof I mean roughly this:

Gold (and since 1937 CHF) have been inflation-proof 'safe havens':

For example: 1 ounze of gold in 1940 would buy 'X' amount of beer.

The same way: 10 CHF in 1940 would by 'X' amount of beer.

Roughly the same as, as 1 ounze Au and 10 CHF today.

Now: That would not work with any other paper currency 1940-present day.

[malcolminthemiddle]

CHF is inflation proof: rather like Gold. Every wise person's portfolio should include CHF. upto 20% IMO.

Could you kindly explain how that works?

Thanks in advance.

Do you doubt the power of the CHF? Try this;

http://ees.net.nz/trading/swissfranc.htm

Read about the history and strength of the CHF.

Doubt the power of the CHF? No not at all. Just wondered how the CHF could be inflation proof in practical terms since every country has a different rate of inflation and a different currency?

By inflation proof I mean roughly this:

Gold (and since 1937 CHF) have been inflation-proof 'safe havens':

For example: 1 ounze of gold in 1940 would buy 'X' amount of beer.

The same way: 10 CHF in 1940 would by 'X' amount of beer.

Roughly the same as, as 1 ounze Au and 10 CHF today.

Now: That would not work with any other paper currency 1940-present day.

Inflation proof is understood, that is not the question, how this status is maintained, that is the question?

[libya 115]

CHF is inflation proof: rather like Gold. Every wise person's portfolio should include CHF. upto 20% IMO.

Could you kindly explain how that works?

Thanks in advance.

Do you doubt the power of the CHF? Try this;

http://ees.net.nz/trading/swissfranc.htm

Read about the history and strength of the CHF.

Doubt the power of the CHF? No not at all. Just wondered how the CHF could be inflation proof in practical terms since every country has a different rate of inflation and a different currency?

By inflation proof I mean roughly this:

Gold (and since 1937 CHF) have been inflation-proof 'safe havens':

For example: 1 ounze of gold in 1940 would buy 'X' amount of beer.

The same way: 10 CHF in 1940 would by 'X' amount of beer.

Roughly the same as, as 1 ounze Au and 10 CHF today.

Now: That would not work with any other paper currency 1940-present day.

Inflation proof is understood, that is not the question, how this status is maintained, that is the question?

I am not an economist, I am an organic chemist.

However this status is maintained by three factors:

1} No devaluation of the CHF since the 1930's

2} The CHF continues over the decades to increase in value against every other currency, see graph in above link offered; in previous post.

3} Switzerland is a unique country, it has the 'trust' of the world, massive gold deposits and incredible unpublished wealth.

4} Swizerland is the only country to actually manage and control with massive accuracy (just like their watches) actually how much money they print. (The U.S. printers of dollar bills work 24 hours), printing money they cannot back since Nixon scrapped the Gold-Standard.

Actually, the question you should be asking is "Why does every other country of the world devalue and plunder the true value of (their) paper money". That is the scandal!

Paper money is supposed to be 'trustworthy' sadly it is not: thus the present interest in gold. and indeed all metals (nickel hit a high recently); However another scandal is the fact that gold and oil is quoted in $U.S. but that is another story.

As an after-thought: I would rather hold sugar than $U.S. with regard 'true value'.

[naka]

The Swiss Franc has lost ground against the Euro over the past 5 years.

So not a good bet considering the Euro pays better interest.

Nowhere will you get 4-5% on a Swiss franc account, perhaps 0.5 - 1 %

Naka.

[KhunPadThai]

Those interested in getting high interest rates in New Zealand should note that there is not depositor's insurance there. If the bank fails, you lose your money. Don't know about Australia.

[beammeup]

Bank of New Zealand is currently offering 7.2% for 150 day term deposit. Similar banks in NZ are offering close to that . . around 6.9- 7.2%.

Of course, you have the currency risk to deal with but those rates are worth it.

Aussie / NZ cross was 1.05 back in January. Today it is 1.21 and expected to reach 1.30 sometime later this year. But it will bounce back.

[/

Is it possible for an englishman living in Thailand to open and operate a NZ bank account, and do they deduct tax from theses quoted saving rates

Thanks

There ars several banks in Singapore that offer NZ$ term deposit accounts tax free if you are not a Sing resident. Some you can open without going to Singapore.

[Soju]

There ars several banks in Singapore that offer NZ$ term deposit accounts tax free if you are not a Sing resident. Some you can open without going to Singapore.

Curious about Singapore banks - which ones allow you to open an account without going there? Do they offer internet banking as well? I currently have my foreign currency accounts with HSBC, Thailand, but wouldn't mind switching to a Singapore bank if they offered better terms and were easy to open.

Edited July 31, 2006 by Soju

[beammeup]

There ars several banks in Singapore that offer NZ$ term deposit accounts tax free if you are not a Sing resident. Some you can open without going to Singapore.

Curious about Singapore banks - which ones allow you to open an account without going there? Do they offer internet banking as well? I currently have my foreign currency accounts with HSBC, Thailand, but wouldn't mind switching to a Singapore bank if they offered better terms and were easy to open.

Try HSBC Singapore