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UBS to eliminate account balance fees from Oct 1 after SNB hike

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UBS to eliminate account balance fees from Oct 1 after SNB hike By Reuters

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Economy 19 minutes ago (Sep 22, 2022 12:58)

© Reuters. FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd Wiegmann

ZURICH (Reuters) – UBS Group will eliminate from Oct. 1 the fee it charged on accounts by private and corporate clients to offset negative interest rates after the Swiss National Bank raised its policy rate into positive territory on Thursday, the bank said.

Credit Suisse (SIX:CSGN) said in an emailed statement it would keep monitoring the market situation and could soon adjust rate conditions, but had stopped charging private clients negative interest rates from July 1.

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