Our Take on BCVS Saving 3
The Valais cantonal bank charges CHF 70 to leave. At least it's cheaper than Obwalden.
BCVS Saving 3 ranks #46 among 93 3a savings accounts in Switzerland. The Cantonal Bank of Valais offers 0.25% interest, no management fee, five withdrawal options, and a CHF 70 closure fee. The fee is lower than some cantonal banks, but it's still a cost you wouldn't face at dozens of fee-free alternatives.
Are the Fees Worth It?
At 0.25% interest, BCVS pays the standard rate. But the CHF 70 closure fee means switching providers costs real money. If you save for 5 years and then want to transfer to a higher-paying account, you'll have earned roughly CHF 45 in interest and pay CHF 70 to leave. You'd be in the red.
The calculus only works if you commit for the long term. After about 15 years of contributions, the accumulated interest exceeds the closure fee by a meaningful margin. But you'd still earn more at a fee-free bank with a higher rate.
What Actually Stands Out
The Valais cantonal guarantee provides full deposit protection backed by the canton. For a mountain canton with significant tourism and hydroelectric revenues, the guarantee has solid economic backing. BCVS is deeply embedded in the Valais economy and serves the entire canton in French and German.
Five withdrawal options give full flexibility. Bilingual service (French and German) is a practical advantage in the bilingual Valais, where other banks sometimes only serve one language well.
What Most Reviews Miss
Valais has moderate 3a withdrawal taxation. It's not the cheapest canton for withdrawals, but it's not the most expensive either. If you plan to retire in Valais, factor in the full picture: 3a interest earned, closure fee, and cantonal withdrawal tax.
The CHF 70 fee specifically applies when transferring to another bank. If you close the account at retirement for a full withdrawal, different terms may apply. Read the fine print on what triggers the fee and what doesn't.
The Bottom Line
BCVS is a reliable cantonal bank choice for Valais residents, but the CHF 70 closure fee adds unnecessary friction. If you're certain about staying in Valais and with BCVS long-term, the cantonal guarantee has value. Otherwise, fee-free alternatives are more flexible. Check our Pillar 3a comparison tool.
Verdict: Solid cantonal bank security for committed Valais residents, but the closure fee penalizes anyone who might want to switch.
Pros
- No account management fee
- Flexible early withdrawal options
Cons
- Interest rate below market average
- Account closure fee (CHF 70)
- Interest rate may change over time
Product Details
At a Glance
- Interest rate: 0.25%
- No account management fee
- 5 early withdrawal options
Fees & Costs
Fees & Costs
Interest Rate
0.25%
Account Management Fee
Free
Account Closure Fee
CHF 70
Early Withdrawal Options
Early Withdrawal Options
Conditions under which you can withdraw funds early from your Pillar 3a account.
Retirement Projection
Based on max. contribution of CHF 7'258/year, age 30 to 65 (35 years), starting from CHF 0.
Compare to Similar Products
Frequently Asked Questions
- What happens if I close my BCVS Saving 3 account?
- Closing the account costs CHF 70, the highest closure fee in our 93-account comparison and more than 11x the segment average of about CHF 6. On smaller balances that single charge can erase several years of interest at the 0.25% headline rate, so factor in long-term commitment before opening.
- Is the rate at least competitive for the Valais region?
- 0.25% is essentially at the segment average of 0.26% and matches APPKB and Acrevis. The CHF 70 closure fee is the standout cost; the headline rate is unremarkable, neither penalty nor reward.
How We Rated This Product
BCVS Saving 3 was evaluated as a product using our weighted scoring system.
Ratings are updated monthly based on the latest available data. All products are evaluated using the same methodology.
Ready to Open?
Open the BCVS Saving 3 today and start enjoying its benefits.