Banking in Three Countries: Rising Fees and Security Challenges

For decades, I have indulged in the luxury of having an account with three banks in the tri-border region. These are Sparkasse Markgräflerland in Weil am Rhein, Crédit Mutuel in Huningue, and Basler Kantonalbank (BKB). However, with rising bank fees, this is increasingly becoming a costly affair.

Having accounts in three countries has always made sense to me. I found it great to be represented with an account everywhere in the tri-border region. This is logical, as I have lived in France for a long time, often visit Germany, and currently live and work in Switzerland. Throughout the Eurozone, I can pay without additional costs with my French credit card, and to withdraw cash in Germany, I use the German EC card. The account management fees at the three banks amount to around 30 Swiss francs per month. There are no significant differences between the banks.

Due to the Euro exchange rate, I have started making transfers to the Eurozone from BKB. This was always free, but the last four transfers incurred fees and surcharges of around 25 Euros each, regardless of the amount. This was particularly bitter with a payment of 105 Euros to my sister-in-law in Hamburg, where almost a quarter of the cost was incurred. As it turned out upon inquiry at BKB, there were no new fees, but the mistake was mine. I had indicated in the online transfers that I would bear all the costs. If I had left the option of sharing the fees, the transfer would have remained free of charge if all necessary data such as the recipient’s IBAN were provided.

The different security philosophies of the banks are cumbersome. At Sparkasse, I had to order a new TAN generator for 33 Euros, which I can use to activate online banking. Unfortunately, I feel overwhelmed by the system. For Crédit Mutuel, like BKB, I have an app, but it wanted an additional code from a cardboard card for a transfer, which I can’t find anymore. Perhaps it’s time to cancel one or the other account?