anyone with a clue about banking and fees...

[Anonymous No.16218876]

I want to know if I'm being fucked
I put 750,000 USD into my private swiss bank account
I get a quarterly administration + management fees that sum up to $1900 (x4 = $7600 per year)
back in August or so I transferred $200,000 to the bank account in my country, that means I had about $550,000 in my Swiss account and I still paid $1900 for the quarterly administration + management fees of September, shouldn't it be lower since they now handle less money of mine and isn't it a high af price to pay for basically them doing nothing in return since I'm not invested in stocks or anything?

also, I chose to not put my money into stocks so they put me into investments in banks which is about %2-%2.5 yearly, is this the best low risk option for me?..

[Anonymous No.16219137]

>>16218876
u wot. in 65 years all of the money you have in deposit will be gone because of fees?

[Anonymous No.16219160]

>>16218876
the real question is why you have $750k sitting in a bank account

[Anonymous No.16219197]

>>16219137
maybe im retarded but a regular account should pay YOU a fee for having a positive balance and you should pay a very small fee to them for administration. what kind of account do you have?

[Anonymous No.16219539]

scam, also Swiss accounts are a meme now
DYOR pleb

[Anonymous No.16219561]

>>16219197
Probably paying a premium for the Swiss obfuscation/security.

[Anonymous No.16219575]

>>16219561
well that is the only thing i could think of. those kind of fees for an account that "doesn't do anything" only make sense if you're laundering money

[Anonymous No.16219582]

>>16219561
Bingo. They buy bonds with his money or lend it out (fractional reserve) while he pays and the bank says ‘well the yield is negative here.’ No sane person would do it from a yield perspective when you could just shell corp in Wyoming up into T bills at 2%+ - has to be another reason...

[Anonymous No.16219936]

>>16219582
yep, can't move the money to my country because of the crypto laws here
and yea, it is invested in T bills and some stupid shit that yields like 2% yearly because I'm too scared to go into stocks rn
you sound like you know what you're talking about, what would you recommend I invest in now through the bank?

[Anonymous No.16220037]

>>16219561
>he banks internationally
>he doesn't know about FATCA & CRS
get the fuck off my board plebs

[Anonymous No.16220107]

>>16218876
Hiding your money from the IRS is expensive, looks like a little over 1% annually.

Se if they will at least invest it for you, having that much in cash is a waste anyway.

[Anonymous No.16220129]

>>16220037
It's not about taxes, I paid my taxes, its just that I can't move money into the banks in my country because they don't accept money originating from crypto..

[Anonymous No.16220223]

>>16219936
I am not an investment advisor by trade.

What are your goals? If you want to keep the money ‘safe’ but have reasonable liquidity ie shorter term (1-3 years or so), you can ask them for options like high yield checking accounts or savings accounts (AmEx keeps offering me 2.something%, I think robinhood just opened a 3% offer) or CDs or you could go whole hog with a bond ladder. TIAA CREF offers vehicles with better yields but they have a lockup period.

If you want longer term (5 yr+) returns and are comfortable with higher volatility the only real option is equities, including private, but thats a whole other conversation.

[Anonymous No.16220238]

>>16220223
Thanks, it sucks how much I have to pay them for just having that bank account because of my shitty country

[Anonymous No.16220713]

>>16219936
you need to start doing your DD on american companies. there are still such thing as small profitable gentile-owned publically traded companies. some of them are even undervalued. some of them even pay dividends. don't be an idiot.

[Anonymous No.16220726]

>>16220238
put it in a money market fund

[Anonymous No.16220945]

>>16220037
>he banks internationally
I don't you fucking idiot.
>he doesn't know about FATCA & CRS
Nope, I don't.
>get the fuck off my board plebs
Small hat wearers not welcome here. KYS and your entire bloodline.

[Anonymous No.16221256]

>>16220945
stay poor low IQ /pol/cel

[Anonymous No.16221339]

>>16218876
why do you need private banking exactly if you dont even invest in stocks?

[Anonymous No.16221432]

>>16218876
private banking is a meme. just open a (or a few) regular retail account and stop paying those bullshit fees for their "((highly personalized services))"
https://www.moneyland.ch/en/private-banking-pitfalls-switzerland

[Anonymous No.16221469]

>>16221256
Never browsed pol in my life. Just pretty obvious you're a bank shill :).

[Anonymous No.16221651]

>>16221256
go away banker, you're not wanted on this board