Fees for accounts and cards are now «out» at many banks. Free offers were previously the specialty of fintechs like mobile banks. However, since last year, some established financial institutions, including several cantonal banks, have also jumped on the bandwagon, such as the largest one, Zürcher Kantonalbank (ZKB).

Bank Wir is now making a new push in the competition. In the race for savings interest rates, the cooperatively oriented institution has always been quick to act. It was one of the first to follow suit when the SNB raised interest rates.

Costs of card usage

Now it's about fees. With its new offer «Bankpaket top,» Bank Wir aims to stand out with hidden fees, according to a statement released on Thursday. At other institutions, high fees often still apply, for example, when paying abroad or withdrawing cash from ATMs.

The Bank Wir Debit Mastercard is said to be usable worldwide without fees. Additionally, foreign currency transactions will be settled at the advantageous interbank rate. In total, up to 24 cash withdrawals in Switzerland and abroad will be free. «For us, this is a logical step in our strategy to continuously generate the greatest added value for our customers,» says Bruno Stiegeler, CEO of Bank Wir.

The new bank package also includes mobile and e-banking and can be opened through the bank's digital self-onboarding process.

Additional services

Further expansion steps are planned for the fall, including the integration of the Twint payment service and securities savings. «In simple terms, our goal is to offer the full functionality of a bank at fintech conditions as a secure and down-to-earth cooperative bank,» Stiegeler continues.