1. Legal aspects
  2. Depositor Protection

Legal Aspects

UBP's Swiss clients

Union Bancaire Privée, like all banks and securities dealers in Switzerland, is a signatory to the "Agreement by Swiss banks and securities dealers on depositor protection". Under the scheme, up to CHF 100,000 of each client's deposit is protected. Medium-term notes held in the name of the bearer at the issuing bank are also considered deposits. The Deposit Protection Scheme is explained in detail on the Esisuisse website . Since 1 September 2011, deposits in the name of the depositor are considered preferential.

UBP's UK clients

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors – including most individuals and small businesses - are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to GBP 85,000 (This new limit applies as of 30 January 2017). For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be GBP 85,000 each (making a total of GBP 170,000). The GBP 85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank, including their share of any joint account, and not to each separate account. For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website or call 020 7892 7300 or 0800 678 1100.

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UBP's Monaco clients

The deposit guarantee and crisis resolution scheme, Fonds de Garantie des Dépôts et de Résolution (FGDR), created by the law of 25 June 1999, protects clients when their bank fails. Its “deposit guarantee” compensates holders of deposit and savings accounts for losses of up to EUR 100,000 per person and per institution; the “investor compensation” covers up to EUR 70,000 worth of securities in any kind of financial instrument per person and per institution; and the “guarantee for mandatory guarantees delivered by a bank” covers the mandatory financial backing delivered by banks to their clients. The FGDR can also intervene preventatively and contribute to crisis resolution before an institution fails, to preserve clients.

For more details about the deposit guarantee scheme on the FGDR website, click here.

For further information about the FGDR, please download the brochure on the Fonds de Garantie des Dépôts et de Résolution.