Is the VIAC app a Safe Retirement Solution?

I recently came across a website promoting an app called VIAC. This app appears to be a retirement savings account based on the Swiss pillar 3a. The interest seems very high compared to other 3a accounts, and it seems off to me to trust my retirement savings to a phone app. How exactly does this app work and who would actually handle my money? Would you recommend VIAC?

Hi there,

VIAC is an app which connect users with retirement saving solutions. The app is offered by a startup which partners with the WIR Bank for 3a savings accounts and Credit Suisse for custody accounts. The products which you access via the VIAC app vary based on your saving goals. Products include regular 3a retirement accounts (you can use the 3a account comparison to compare the WIR Bank 3a account), and investment funds. Investments are managed by the Terzo Foundation, a subsidiary of the WIR Bank.

VIAC currently charges a fee equal to 0.52% of investments made. This fee does is not applied to regular 3a savings held in a 3a retirement account, but only to assets which are invested. The fee covers custodial fees and the Terzo Foundation's administrative fees. Additionally, you pay fees charged by investment funds (TER). Curency exchange fees incurred through investments in foreign investment products are also charged separately.

You can request a PDF which compares the costs of other Swiss 3a retirement funds at the foot of the moneyland.ch guide to 3a retirement funds.

Best regards from Moneyguru