This is where you will find answers to our customers' most frequently asked questions.
What advantages does the frankly app offer?
Your Sparen 3. Your choice.
With frankly you can decide for yourself how to build your pillar 3a. Choose one of five investment strategies that suits you and make more out of your pillar 3a.
Higher potential returns for your private pension.
High-quality investment products from Swisscanto Invest by Zürcher Kantonalbank mean you enjoy higher potential returns than when saving in a 3a account.
Want to save money while saving securities? The all-in fee on your account and securities balance is currently 0.47% thanks to the community discount. With frankly, you can expect no securities custody fees and no flat-rate administrative fees for the investment product; they are included in the all-in fee. Saving securities with frankly is half the price of comparable offers.
Please note that issue and redemption charges apply in favour of the fund for the indexed investment products in particular and these are not included in the all-in fee. You can find an exact definition of the all-in fee in the FAQs.
A solid foundation for your 3rd pillar.
frankly was developed by Zürcher Kantonalbank – one of the most secure full-service banks in the world. In doing so, we rely on the experience of Zürcher Kantonalbank's Sparen 3 pension foundation and the high-quality investment products from Swisscanto Invest by Zürcher Kantonalbank.
Switching to frankly made easy.
frankly offers a simple and free transfer service: it takes less than a minute to send us a transfer request in the app to switch your Sparen 3 balance to frankly. We take care of everything else, including any transfer costs.
How secure is the frankly app?
The frankly app follows common security standards. For example, you will need to verify your email address and phone number. You must log in with your password each time before using the app.
If you submit a request to withdraw a lump sum, we apply the same due diligence rules as for a traditional pillar 3 solution.
Where is my money?
Zürcher Kantonalbank's Sparen 3 pension foundation invests your money in the investment product of your choice. The portion of your assets that you do not invest in securities and therefore keep in account form is deposited by the foundation with Zürcher Kantonalbank. Further information can be found in About frankly.
How do I open a frankly Sparen 3 account?
What is included in the all-in fee?
The all-in fee is the price that includes the following fees for using frankly:
Opening an account
Closing an account
Additions / disposals
Custody of the securities portfolio
Advance withdrawal for home ownership assistance programme
Pledging for home ownership assistance programme
All-in fee for the investment product
What is not included in the all-in fee?
The all-in fee does not include any issue and redemption charges for indexed investment products or any fees and additional costs charged directly to the investment product (for example: bid-ask spreads, commissions, taxes, duties and the total expense ratio (TER) for exchange-traded real estate funds).
Moreover, fees are charged for re-ordering documents and for address enquiries and investigations for dormant pillar 3 assets.
In the case of special expenses incurred by the Foundation (such as time-consuming correction postings caused by the client or a disproportionate number of transactions on the part of the client), fees may be charged at standard bank rates.
When ist the all-in-fee charged?
The current all-in-fee is 0.47% per annum and is charged on a quarterly basis pro rata to the total assets.
Is the administrative fee and the TER (Total Expense Ratio) of the funds available in frankly 0.0%?
The flat-rate administrative fee is included in the all-in fee and is therefore always 0.0%. The total expense ratio is a key indicator that contains all fees charged to an investment product. Whenever possible, frankly investment products invest in investment products with a TER of 0.0%. For reasons relating to returns, however, investments may also be made in exchange-traded third-party funds, for example real estate funds. This means that the investment products available in frankly may have a TER between 0.01% and 0.03%.
Please note: The TER of an investment product is a generally recognised key indicator and encompasses all fees.
However, if securities transactions are carried out in the investment product in order to maintain the specified strategy, for example, additional transaction costs (e.g. bid/ask spreads, commissions, taxes or duties) may arise that are not stated in the TER. These transaction costs are charged directly to the investment product.
What are issue and redemption charges, how high are they and why are they not included in the all-in fee for indexed investment products?
For issues and redemptions in an indexed investment product, securities are traded in the corresponding amount. The associated issue and redemption charges (i.e. standard brokerage fees, commissions, taxes and duties) are charged to the assets of the investment product and billed transparently. In particular, the charges are intended to protect existing investors (dilution protection) and are always credited to the assets of the investment product.
The highest rate of the issue and redemption charges in favour of the investment product amounts to a maximum of 2% of the net asset value of the respective investment product in each case. The effective issue and redemption charges are indicated in the factsheet of the indexed investment product.
Issue and redemption charges serve only to cover the transaction fees caused by the issue and redemption of shares in the investment product and the associated securities transactions. These charges have to be assumed by the individual investor in order to protect the remaining investors and cannot be included in the all-in fee in advance.
Do I have to deposit a minimum amount on a regular basis? And what is the maximum amount?
No, every year you are free to choose whether and how much you want to deposit. You can start from as little as 1 CHF.
For 2020, the maximum deposit limit is CHF 6,826 if you are affiliated with a pension fund. If you are not affiliated with a pension fund, this is 20% of your earned income up to a maximum of CHF 34,128 per year.
Am I committed to a minimum term?
No, you can close your frankly Sparen 3 account at any time without notice. You can also sell your securities daily and at no cost.
What is the community discount and how can I benefit from it?
The community discount is a discount for all frankly users. The greater the number of people saving with frankly, the cheaper the all-in fee for everyone. You can track how far away you are from the next discount tier in the app.
Recommend us to a friend now, so that we get there even faster.
How do I switch my current 3rd pillar to frankly?
This is easy to do in the frankly app and takes less than a minute. Under Actions «+» you will find the button «Transfer 3a to frankly». We guide you through the most important points in a few clicks and do the rest for you.
What investment strategies and products can I choose?
What's the difference between active and index-linked investment strategies?
Active investment strategies are designed to «beat the market» – that is, to achieve better investment success (performance) than the market average. This is done through the targeted selection of particularly promising securities and buying or selling at the best time.
An index-linked investment strategy is an investment strategy that limits itself to replicating the performance of a market one-to-one as far as possible. It does not seek to outperform the market average, but aims not to underperform it either.
I don't want to invest my assets in securities. I would like to keep the account format. Is that possible with frankly?
frankly is only suitable for people who wish to invest at least part of their pension assets in securities, as the all-in fee also applies to the account balance. Therefore, the account format is not attractive with frankly.
To keep your assets in account format, set the investment mode in the app to «self». If you have already invested in securities, you can immediately sell your units in the app.
Where can I find the current interest rate of my frankly Sparen 3 account?
The current interest rate is 0.05%. It can be seen in the app under «Current all-in fee».
My current pillar 3a is pledged for my mortgage. Can I still transfer it to the frankly app?
Yes, this is possible. Simply open your frankly Sparen 3 account and click on «Transfer 3a to frankly» in the app. We'll take care of the rest.
Does frankly cover my costs for the transfer to frankly from my bank?
Yes, we pay any transaction costs or account closing fees. However, no further costs are covered. This applies to all pillar 3 accounts at banking foundations, but not to transfers from insurance companies.
How do I request a refund for the transfer costs?
How are transfer fees refunded?
We will give you a discount on the all-in fee for the same amount.
Can the securities of an existing ZKB pillar 3 solution be transferred to frankly?
Due to the different fee model, frankly has other (0.0%) fund classes, therefore a transfer is not possible. Switching a ZKB pillar 3 customer to the new solution can have advantages. When switching, it should be noted that customers are not invested for a few days due to the sale and subsequent investment. In the case of index-linked funds, issue and redemption fees are also incurred in favour of the fund. However, the transaction fee is waived in full in the event of switching. Your relationship manager will be happy to answer any questions you may have.
Does frankly offer sustainable investment products?
Our partner Swisscanto Invest by Zürcher Kantonalbank is convinced that specific sustainable products are not the solution. Instead, sustainable considerations should be applied in all funds whenever possible. For example, Swisscanto Invest by Zürcher Kantonalbank is the first fund provider to implement a binding CO2 reduction target of 4% per year in all traditional, active investment funds.
Discover more about the sustainability of Swisscanto Invest by Zürcher Kantonalbank.
How long is the subscription period?
For active investment products, it takes two banking days from the time of investment (or sale) to show up in the app. For index-linked investment funds, it takes three banking days.
How do I add funds to the frankly app?
In the app you will find your IBAN under «Add funds». You can make a one-off deposit or enter a standing order. We recommend standing orders so you don't forget to make a deposit.
How can I adapt my strategy?
You can easily do this at any time in the app. Under Actions, choose «Change strategy». In the overview, click on «Strategy».
Can I have more than one frankly Sparen 3 account?
A maximum of five active accounts can be opened in the app. You can open another frankly pillar 3 account under "Open another pillar 3 account".
For tax reasons, existing pillar 3 solutions cannot be split into two or more frankly pillar 3 accounts and must be transferred as a whole.
I would like to withdraw my frankly Sparen 3 balance early. What options do I have and what do I have to do?
All withdraw options are stored in the app. You can do this easily via the app. Under Profile, select «My accounts» and click on «Withdraw balance».
Can I keep my securities after I retire?
For all securities it is possible to switch to an investment solution with Zürcher Kantonalbank. Please contact us for a transfer.
What should I do if I have changed / lost my mobile phone?
That's no problem. Just log in to the app and we will guide you through the re-registration process.
What should I do if I have forgotten my password?
Please contact Support.
Where can I find documents for my tax return?
You can find most documents – including your tax statement – in the app in your profile under «My messages».
I can't scan my ID. What do I do now?
How to scan your ID properly: Scanning tips
If it still doesn't work, change the lighting conditions in the room. Make sure you're in a bright place or use your driver's licence instead of your ID card, for example. We also recommend that you close the app completely and try again.
Can I make staggered investments in securities?
Yes, this is possible.
frankly distinguishes between a manual and an automatic investment mode. In manual mode, you enter each investment or sales order in the app yourself.In automatic mode, frankly invests your entire account balance in the desired investment product as soon as your account balance is above CHF 5.00.
Staggered investments need to be made in manual mode. This allows you to decide yourself when and how much to invest.
Staggering is also possible by combining the automatic investment mode with a standing order to frankly. Funds added to your pension balance are then invested straight away
How are my securities orders executed?
For active investment products, it usually takes two banking days from the time of investment (or sale) to show up in the app. For index-linked investment funds, it’s three banking days. The app transparently shows the stage your order is at.
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