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Old 12.09.2015, 23:33
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UBS blocked my bank account

Hi folks, hope someone had the same situation as me and can help me with an advice.
I worked and lived in Switzerland for ca. 2 years and had a bank account opened at UBS. I left the country in Q3 2014, but kept a permit B (I mean it is still valid), and kept an open account. I did not use it much, just a couple of times transferred some money to my home country (outside EU, and not US/OECD), about 15,000 in total.
Recently I tried to make an online payment to Swiss tax authorities (finally got request for my tax 2013), but failed. Called hotline, they said that my account blocked and they could not tell more, "please call another number on Monday".
To be honest, I am a bit nervous... I had all my money earned in an honest way, my employer paid them directly to my account, so nothing could be related to money laundering. My transactions to my home county most likely are not the case either because I had a couple of othe transactions after them, and they passed through...
Could they block it for other reason? What I can expect? What to be ready on Monday?... Anyone had such problems with UBS?
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Old 12.09.2015, 23:36
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Re: UBS blocked my bank account

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Hi folks, hope someone had the same situation as me and can help me with an advice.
I worked and lived in Switzerland for ca. 2 years and had a bank account opened at UBS. I left the country in Q3 2014, but kept a permit B (I mean it is still valid), and kept an open account. I did not use it much, just a couple of times transferred some money to my home country (outside EU, and not US/OECD), about 15,000 in total.
Recently I tried to make an online payment to Swiss tax authorities (finally got request for my tax 2013), but failed. Called hotline, they said that my account blocked and they could not tell more, "please call another number on Monday".
To be honest, I am a bit nervous... I had all my money earned in an honest way, my employer paid them directly to my account, so nothing could be related to money laundering. My transactions to my home county most likely are not the case either because I had a couple of othe transactions after them, and they passed through...
Could they block it for other reason? What I can expect? What to be ready on Monday?... Anyone had such problems with UBS?
Did you update your address, maybe they had some letters returned 'not known'.
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Old 12.09.2015, 23:52
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Re: UBS blocked my bank account

How can you deregister and keep a B permit??
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Old 12.09.2015, 23:58
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Re: UBS blocked my bank account

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How can you deregister and keep a B permit??
I deregistered about a year ago & was not asked to give back my C permit.
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Old 13.09.2015, 00:02
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How can you deregister and keep a B permit??
I submitted a departure form, but nobody asked me to give them my Permit. I still do not know where it is valid though... But I know about cases when people kept traveling to Switzerland with such permits until they were over.

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Did you update your address, maybe they had some letters returned 'not known'.
Yes, I changed the address... But I forwarded all mails with the Swiss Post service. May be, this forwarding has simply expired?... I do not remember - is it for one year or something?...

Last edited by 3Wishes; 13.09.2015 at 17:11. Reason: merging consecutive replies
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Old 13.09.2015, 00:05
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Re: UBS blocked my bank account

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Yes, I changed the address... But I forwarded all mails with the Swiss Post service. May be, this forwarding has simply expired?... I do not remember - is it for one year or something?...
Normally it's for 1 year for a change of address, normal forwarding can last as long as you want, however it's charged by the week so more expensive.
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Old 13.09.2015, 00:08
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Re: UBS blocked my bank account

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Normally it's for 1 year for a change of address, normal forwarding can last as long as you want, however it's charged by the week so more expensive.
So, you want to say that you know cases when they blocked accounts if they fail to reach a person by mail?
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Old 13.09.2015, 00:15
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Re: UBS blocked my bank account

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So, you want to say that you know cases when they blocked accounts if they fail to reach a person by mail?
Sure, they are worried the account could become hacked if your not getting cards & pin no's. Hardly surprising TBH.
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Old 13.09.2015, 00:24
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Re: UBS blocked my bank account

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Sure, they are worried the account could become hacked if your not getting cards & pin no's. Hardly surprising TBH.
Thanks. Might be the case. Will check on Monday and will let you know.
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Old 13.09.2015, 10:58
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Re: UBS blocked my bank account

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I deregistered about a year ago & was not asked to give back my C permit.
You get to keep the physical permit.... but it is no longer valid after de-registration.

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Yes, I changed the address... But I forwarded all mails with the Swiss Post service. May be, this forwarding has simply expired?... I do not remember - is it for one year or something?...
I had my CS account blocked years ago as I forgot to tell them of a change of address and they got returned mail. You may find that now your not in Switzerland, they may charge you higher fees to keep it open, or may make you close it.
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Old 13.09.2015, 11:12
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Re: UBS blocked my bank account

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You may find that now your not in Switzerland, they may charge you higher fees to keep it open, or may make you close it.
This ^^^^^. Especially as the OP is living in a non EU country.
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Old 13.09.2015, 15:03
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Re: UBS blocked my bank account

There are many reasons why UBS might have decided to block your account - you might have raised a "red flag" somewhere e.g. suspicious transactions, country of origin being sanctioned etc. etc.
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Old 14.09.2015, 10:54
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Re: UBS blocked my bank account

Thanks for comments, guys. The problem was indeed with an address, they could not reach me so blocked an account.
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Old 14.09.2015, 11:30
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Re: UBS blocked my bank account

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Thanks for comments, guys. The problem was indeed with an address, they could not reach me so blocked an account.

Big Brother is watching over all of us.................................
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Old 14.09.2015, 11:31
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Re: UBS blocked my bank account

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Thanks for comments, guys. The problem was indeed with an address, they could not reach me so blocked an account.
That's what they TOLD you. But do you know the REAL reason?
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Old 14.09.2015, 12:18
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Re: UBS blocked my bank account

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That's what they TOLD you. But do you know the REAL reason?
I am definitely not a dictator trying to hide my dirty money in Switzerland... The only reason I need an account because I still receive various payment requests that I have to manage. Sending money abroad from my home country is a headache... So it is easier to have Swiss account, which I am going to close anyway within a year, when my permit is over.
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Old 15.09.2015, 07:44
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Re: UBS blocked my bank account

Good to hear you got it sorted.
I was going to point out that if you're now living in Australia, that UBS, Credit Suisse and others are all terminating their banking relationships with Australian residents, and are clsoing accounts in accordance, but it sounds like it was another matter in your case.
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Old 15.09.2015, 09:34
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Re: UBS blocked my bank account

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Good to hear you got it sorted.
I was going to point out that if you're now living in Australia, that UBS, Credit Suisse and others are all terminating their banking relationships with Australian residents, and are clsoing accounts in accordance, but it sounds like it was another matter in your case.
Source?

Why would Swiss banks want to terminate their relationship with Australian residents?
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Old 15.09.2015, 10:43
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Re: UBS blocked my bank account

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So it is easier to have Swiss account, which I am going to close anyway within a year, when my permit is over.
Your permit IS OVER .... unless you didn't de-register and are still paying health insurance. It is also automatically no longer valid if you stay out of Switzerland for more than 6 months. So one way or another, your permit is NOT valid anymore!
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Old 15.09.2015, 11:12
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Re: UBS blocked my bank account

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Source?

Why would Swiss banks want to terminate their relationship with Australian residents?
My banking relationship managers at both the UBS and CS, both banks have decided the regulatory requirements are too onerous to maintain private clients. UBS would be prepared to maintain a relationship with 'wholesale' clients and one can qualify if one has assets of over CHF2million in the accounts.

Look it up if you don't believe me, or pick up the phone and talk to your local bank.
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