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SWISS NATIONAL BANK

Switzerland’s new 50 franc note: what you need to know

Switzerland's new 50 franc note became available on Tuesday. Here's what that means for you.

Published: 12 April 2016 10:43 CEST
Switzerland's new 50 franc note: what you need to know
The new 50 france note has been dubbed the "dandelion". Photo: Swiss National Bank

Where to get the new notes

The new notes are already available at the offices of the Swiss National Bank in Zurich and Bern and at the regional agents of the bank which are listed here.

Some other banks already have the new notes but people in some regions will have to wait until Wednesday when deliveries are complete – a delay bemoaned by numismatists.

The design

The design of the new note “focuses on the wealth of experiences Switzerland has to offer”, an idea represented by the wind, according to the Swiss National Bank.

The front site of the note features a dandelion while the rear side shows a mountain range.

Security features

This note is the first in a whole new series of banknotes for the country with the national bank saying it comes with “state-of-the-art anti-counterfeiting protection”. This multi-faceted protection includes design features that can only be seen under a microscope or using UV light.

The note's security strip lists all of the Swiss mountains over 4000 metres high from the Aletschhorn to the Zumsteinspitze.

Smaller size

The new series of notes will come in the same colour scheme as the older notes. However, the news notes are smaller and “easier to handle”, according to the Swiss National Bank.

This new size has meant a refit of cash machines, which means you may have to wait until an ATM spits one out for you.

No more Dada

Crucially, the new notes will also see people replaced by designs. In the case of the 50 franc note, that will see Switzerland saying goodbye to the image of Swiss Dada artist Sophie Taueber-Arp who has appeared on the note since 1995.

The timing is unfortunate as Zurich is currently in the throes of celebrating the centenary of Dadaism in the city with events centred on the legendary Cabaret Voltaire.

A new series of notes

The next denomination in the Swiss series of banknotes, the 20 franc note, is expected to be released in spring 2017.

Can I keep using my old 50 franc notes?

The current 50 franc notes will remain legal tender until 2020 with the Swiss National Bank then obliged to swap the current notes for the new version for 20 years, according to Swiss daily the Tages Anzeiger.

What will happen to the old notes when they go out of circulation?

The old notes will be shredded and compacted, then burned in waste incineration plants.

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READER QUESTION

EXPLAINED: Can I terminate my Swiss telecom contract early?

When you sign up with a telecom provider in Switzerland, your fate is sealed: you must remain with that company until your agreement expires. But what if you want to get out of the contract ahead of schedule?

Published: 24 July 2024 13:21 CEST
EXPLAINED: Can I terminate my Swiss telecom contract early?

On July 24th, 2024, Switzerland’s largest telecom operator, Swisscom, has abandoned its inOne Home package, which includes the telephone, Internet and television, and replaced it with another service, Basic Home.

But the cost of the subscription increased from 50 francs a month to 59.90 francs.  

If you happen to be one of the Swisscom customers affected by this change, but did not cancel your subscription on time (read more about this below), you were ‘migrated’ to the new bundle automatically — and will be charged accordingly.

What happens if you don’t want this more expensive service but have not cancelled your contract in time?

More specifically, can you terminate your telecom subscription — whether with Swisscom or another company — at any time?

The simple answer is yes, but it will cost you money.

That’s because telecom contracts typically have a minimum term — usually 12 or 24 months, but this can vary — as well as the required cancellation notice period.

Each of Switzerland’s three main telecom providers — Swisscom, Sunrise, and Salt — have a two-month termination notice period, at calendar month’s end.

This is the usual notice period for smaller providers like Yallo, Wingo, Coop Mobile, LidlConnect, and M-Budget Mobile as well.

On the other hand, prepaid mobile services don’t require notice periods and can be terminated at any time.

What are the penalties for early termination?

If you cancel your service within the contractual notice period, then you are in the clear.

However, failing to do so can be expensive.

The reason is that telecoms will not just let you off the hook and wish you well while you contract with one of their competitors.

Most likely, you will be faced with one of two scenarios: the company will charge you penalty fees or continue to bill you for the plan until the notice period has expired.

Also, according to Moneyland consumer platform, “a practice that is widespread among Swiss telecom companies is to continue charging you the basic fees for your plan until the contract term expires… Regardless of whether you are terminating ahead of the contract term or just the notice period, telecom companies will require you to pay the full outstanding amount in both cases.”

In terms of actual amounts, they vary from one provider to another.

Swisscom charges the highest penalty fees for breach of contract — up to 4,800 francs.

Other mobile service providers impose penalties of several hundred francs, according to Moneyland.

Exceptions to the rule(s)

You are allowed you to terminate your contract early without penalties when a ‘negative’ change is made to your plan — that is, telecom provider reduces or drops services that were previously included.

Penalties can also be waved if you cancel your subscription early because you move out of Switzerland.

If you relocate within Switzerland, you won’t have to pay penalties, but only if your new home is completely uncovered by your provider’s mobile network.

Additionally, even though Swiss telecoms have a contractual right to raise their prices once a year to match changes in the consumer price index, these increases do entitle customers to terminate their contract early without penalty fees.

And, last but not least, death is also deemed a justifiable excuse to wave penalties.

As Moneyland put it, “all Swiss telecom companies take a customer-friendly approach in the case of death, allowing relatives to terminate the deceased’s contracts immediately without paying penalty fees.”

Can you just refuse to pay the early termination fees?

Unless you move out of the country, or go to live in an extremely rare place in Switzerland where there is no wi-fi coverage (like a cave), or die, then you do have to pay the penalties — unless you come to an amicable agreement of some sort with your telecom provider.

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