Parliament ruled that forcing PostFinance to offer the same services to Swiss expats would damage its business interests.
Keystone
PostFinance, the banking arm of the state-run Post Office, will not have to offer the same services to the Swiss living abroad as to their compatriots in Switzerland. The parliamentary decision is another blow to Swiss expatriates who have seen banking services from their home country diminish in recent years.
Since the 2008 financial crisis, and resultant tightening of anti-tax evasion rules, most Swiss banks have either closed the accounts of Swiss citizens living abroad or imposed prohibitively high costs.
“Swiss nationals abroad have had difficulties maintaining their banking relations in Switzerland on reasonable terms,” OSA said in a statement. “Our compatriots are increasingly moving abroad for professional reasons and for short periods, which makes it all the more necessary to keep a bank account in Switzerland.”
Swiss bank accounts are important to receive Swiss pension payments, make social security payments and manage assets held in Switzerland, OSA added.
PostFinance has already stopped providing credit cards to Swiss clients who live abroad and terminated securities accounts for such customers. The parliamentary motion demanded that PostFinance should be obliged to provide equal services to all Swiss citizens, regardless of where they live.
But the motion was turned down by 30 votes to nine on Wednesday after parliamentarians argued that this obligation would put PostFinance at a competitive disadvantage to other Swiss banks.
The government had also spoken against the motion.
Earlier this month, the House of Representatives threw out demands for the federal authorities to publish data on bank expenses, interest rates and other offers on the websites of the foreign ministry and Switzerland’s diplomatic representations abroad.
Swiss Jew wrongfully detained due to prosecutor’s ‘bias’
This content was published on
A Jewish Swiss man was detained after the prosecutor argued he might flee to Israel. The Federal Court said this implies bias due to his Jewish faith.
US reportedly scrutinises Russian accounts UBS took over from Credit Suisse
This content was published on
The US is investigating Russian clients acquired by UBS during its takeover of Credit Suisse, according to three sources familiar with the matter.
WTO plans to reappoint Okonjo-Iweala before Trump swears in
This content was published on
Some member states of the World Trade Organization may seek to reappoint Director-General Ngozi Okonjo-Iweala, according to a document released on Tuesday.
Swiss village gets half a million amid rockfall threat as some residents resist evacuation
This content was published on
The Swiss village of Brienz has been granted CHF500,000 due to a rockfall threat. But some residents are questioning the authorities’ evacuation orders.
This content was published on
Starting Wednesday, Swiss researchers will have access to the European Research Council’s Proof of Concept Grants, said the European Commission.
Switzerland fined for denying asylum for gay Iranian
This content was published on
Switzerland violated the prohibition on inhuman treatment by considering that a gay Iranian could be returned to his country.
Gestational diabetes found to increase risk of adult-onset diabetes
This content was published on
A research team from the Lake Geneva region has identified persistent dysfunctions in glucose regulation in women with gestational diabetes. In the long term, this can increase the risk of adult-onset diabetes by up to ten times.
Swiss village must be evacuated by midday on Sunday
This content was published on
The village of Brienz-Brinzauls in eastern Switzerland, which is threatened by a rockfall, must be evacuated by 1pm on Sunday. All residents must leave the village.
This content was published on
A former judge of the Graubünden Administrative Court in eastern Switzerland has been found guilty of rape, sexual harassment and threatening a former trainee.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Government: Swiss Abroad entitled to Switzerland’s best banking offers
This content was published on
Swiss citizens living abroad must have the most complete and up-to-date access possible to offers from the Swiss banking sector.
Parliament snubs Swiss expat calls for better banking ties
This content was published on
The Swiss Abroad community has suffered a new setback in its efforts to receive improved access to banking services in Switzerland.
This content was published on
The Council of the Swiss Abroad has called on parliament to reject a proposal limiting welfare benefits to residence status in Switzerland.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.