CHF current account
Deposits can only be done by bank transfer,
Members can deposit up to CHF 30,000 per fiscal year. Any amounts exceeding this limit will be automatically returned to the sender at his/her expense,
Payments issued by a member organization and the pension fund of a member organization are not subject to this limit and are automatically accepted,
Members who send funds to the Mutual Association to credit their CHF deposit account and CHF current account will ensure that the limit of CHF 30,000 has not been reached on the CHF current account otherwise the whole amount, including funds destined to the CHF deposit account, will be returned to the sender.
Members can withdraw a maximum of CHF 10,000 in cash per fiscal year. Amounts collected in cash from the CHF current account are taken into consideration. Members who wish to withdraw an amount exceeding CHF 10,000 must effect a bank transfer,
Withdrawals by bank transfer are unlimited,
Withdrawals are, in principle, subject to a prior notice period of 1 working day. However, the withdrawal notice for cash withdrawals may be extended as long as the maximum daily limit of cash withdrawals set by the Board of Directors for all members, is reached. In this case, the members are put on a waiting list. If they do not want to wait they must effect a bank transfer.
- Standing order
Members have the possibility to place a standing order to transfer each month an amount from their CHF current account to their CHF deposit account. A special form is available to initiate the transfer.
- Interest rate - credit of interest
The interest rate on the CHF current account is 0.00%.
Interest is credited in January to the member's account, value 31 December of the financial year.