27 July 2017
How secure are my bank account balances if the bank declares bankruptcy?
If bankruptcy proceedings are opened against a Swiss bank or a Swiss securities dealer (hereinafter collectively referred to as "Bank"), deposits by natural and legal persons, up to a maximum amount of CHF 100,000 per person and Bank, are treated as privileged. The privilege covers deposits denominated in the name of the Bank customer, including medium term bonds deposited with the Bank in the name of the Bank customer. This includes, in particular, deposits from Bank customers on private, savings, investment, and current accounts. The privilege is linked to the claim and thus applies irrespective of the nationality or the domicile of the Bank customer. It applies to deposits at both Swiss and foreign branches of the Bank.
27 April 2017
Why does my bank's name now include "Switzerland"?
The two Swiss major banks have changed their legal structure. Towards the end of 2016, Credit Suisse launched its new subsidiary Credit Suisse (Schweiz) AG, which comprises the universal bank's business for Swiss customers. UBS already spun off the areas retail & corporate and wealth management booked in Switzerland into UBS Switzerland AG in June 2015. What is the background of these structural changes? And what do they mean for the two major banks' customers?Read more