1. Legal aspects
  2. Depositor Protection
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Legal Aspects

UBP's Swiss clients

Are my deposits protected under the deposit insurance esisuisse? Yes, like any bank and any securities firm in Switzerland, UBP is required to sign the Self-regulation «Agreement between esisuisse and its members». This means clients’ deposits are protected up to a maximum of CHF 100,000 per client. Medium-term notes held in the name of the bearer at the issuing bank are also considered deposits. Depositor protection in Switzerland is provided by esisuisse, and the depositor protection system is explained in detail at https://www.esisuisse.ch/en

Deposit protection for accounts held at banks is changing from 1 January 2023 for specific clients. In particular, if several persons own an account together, this group is treated as a single client when it comes to deposit protection. Also, “financial intermediaries” are no longer protected (their deposits are entitled to no protection and no privileged treatment in the event of bankruptcy). More information about all the changes to deposit protection regulations is available on the Esisuisse website.

Client information Swiss deposit insurance brochure

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.