Expected a lot – and got nothing but costs
When I became a customer of this bank, I was curious about the service: I generally expected a high level of service. I couldn't have been more wrong.
I have never experienced such poor service at any other bank – and I am a customer of several international banks – as I did at LGT. And all this at ridiculously high costs. Fees were deducted and charges added without warning at every opportunity.
For example, despite clear communication at the time of account opening, the bank failed to correctly account for my tax setting for over a year and a half. As a result, withholding taxes were repeatedly paid to the tax authority of the wrong country, which in turn necessitated time-consuming and expensive tax consulting activities on my part. The correct tax treatment was then billed at an annual cost of CHF 2,000. No other bank of mine does that.
The employees consistently displayed the perfect combination of incompetence, arrogance, and sadism. Their own mistakes were denied, and for example only after considerable pressure were I given the necessary documents regarding the tax issue mentioned above, which I needed to prove the error to my home tax authorities.
I never felt comfortable as a customer at LGT for a single second and transferred the assets held there to one of my other banks after a year. Naturally, hefty fees were charged for the transfer.
I warn you: do not become a customer of this bank. You will regret it within a few weeks.
