What will change for clients?
- For legal and technical reasons, certain adjustments will need to be made for Credit Suisse clients. We will provide them with comprehensive information and support from an early stage. They do not need to take any action at this point in time.
Are depositors safe and will UBS remain a reliable partner for the needs of our clients?
- Depositors at both UBS and Credit Suisse benefit from the capital strength and liquidity of UBS Group AG.
- We recognize the importance of a solid balance sheet, especially in challenging times like these. We’re confident that UBS will remain solid.
- Our strength and our familiarity with Credit Suisse's business puts us in a unique position to carry out this integration efficiently, effectively and with the best interest of our clientele in mind.
What amount is covered by the depositor protection scheme after the takeover? What are the consequences for dual clients?
- Cash deposits are guaranteed up to CHF 100,000 by the depositor protection scheme.
- However, after the legal close of the merger, the depositor protection scheme for dual clients (banking relationship with both UBS Switzerland AG and Credit Suisse (Schweiz) AG) will only apply 1 x CHF 100,000 and no longer 2 x CHF 100,000.
What will happen with client data? Will clients lose all their data history and documents, settings, configurations in E-Banking, transaction histories, direct debits, payments, etc.?
- Client history or other settings will not be lost with the completion of the legal merger.
- We will start the transfer of current Credit Suisse client relationships and products to the UBS systems in 2025. We will provide ongoing information in a transparent manner regarding any potential changes to existing products.
What will happen to my products (E-Banking, mortgages, investments)? Will these be migrated or is any action needed from my side?
- The completion of the legal merger has no implications on our clients’ day-to-day banking relationship, and nothing will change in terms of their products and services at this moment in time.
- Our aim is to expand the range of products and services and provide clients with a comprehensive range that reflects the strengths and capabilities of both banks.
- Our planning and approach are guided by one overarching goal: to make the transition as smooth as possible for clients.
- We will start the transfer of current Credit Suisse client relationships and products to the UBS systems in 2025. We will provide ongoing and transparent information on the next steps.
Can clients now obtain products and services centrally from one bank?
- Until the completion of the client migration, both banks will continue to run separately. Hence, clients can only obtain products and services from the respective bank.
- Our goal is to expand the range of products and services and to be able to provide clients with a comprehensive range of the strengths and capabilities of both banks.
Are we now able to give clients comprehensive advice about products and services from both banks and answer client questions about each other's banking institution?
- Clients can contact their respective bank and client advisor with concerns.
Can clients now use the infrastructure of both banks free of charge, for example as a UBS client the Credit Suisse infrastructure (e.g., counter, ATM) – and vice versa?
- UBS clients can continue to use UBS's infrastructure and Credit Suisse clients can continue to use Credit Suisse's.
- It is not possible to receive advice from a branch or an advisor from the other bank.
- UBS clients can now also withdraw cash free of charge at all Credit Suisse ATMs in Switzerland. This applies to cash withdrawals with a debit card from a personal account, in Swiss francs or euros. Any third-party bank fees at Credit Suisse ATMs will be waived for UBS clients.
- Credit Suisse clients can now also withdraw cash at UBS ATMs at the usual conditions. Any third-party bank fees at UBS ATMs will be waived for Credit Suisse clients.
Will access to the respective E-/Mobile Banking (CSX, key4) continue to exist and will any multibanking functions be retained?
- For the time being, nothing will change for clients. This also means that access to the current digital banking will remain in place until further notice, including the contract number and access data.
- No action is required at this time, and apps don't need to be reinstalled.
- A collective view must be requested manually for certain clients within the framework of existing multibanking solutions.
Can I integrate my Credit Suisse account into UBS E-/Mobile Banking?
- It is currently not possible to integrate the Credit Suisse account into UBS E-/Mobile Banking (see above for multibanking). Clients can view their financial situation at their respective banks.
Will there be any changes to the pricing conditions? Will existing conditions be harmonized or remain in place, and if so, which ones, and are there transparency or price agreements between UBS and Credit Suisse?
- We will provide ongoing and transparent information on the next steps.
- For dual clients (clients with banking relationships with both UBS and CS), nothing will change with regard to the current price conditions until further notice.
Do existing agreements with Credit Suisse and powers of attorney granted remain valid?
- For the time being, generally nothing will change for clients.
- Existing powers of attorney therefore generally remain valid.
