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Old 19.12.2007, 00:56
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UBS to introduce fees on cards for 1st year also

hi all,
I opened a bank account with UBS today. The "welcome" package had been replaced by another one but conditions are quite similar. Basically u get the cards for free in the first year. There is some administrative tax starting from next year but if u have more than 10k in the account everyday of the month then next month the admin fee is zero. These things are not new, I saw them posted in previous threads, just wanted to mention they remain valid in the current package.
I was informed though that starting new year they will add a fee for the cards even in the first year. It is valid for the debit cards also. So if u plan to get an UBS card u shd hurry now.
I have an L permit here and I was thinking they will refuse issuing a credit card (based on the posts i found here). The counselor said is nothing to worry about and if I make a deposit with same amount as the credit limit there will be no issue to get the card. I brought a pile of papers just in case - work contract, pay slip,passport, work permit,... . I will really wonder if I really get the card as I applied for it on CS also and they accepted the request, told me not to be worried but in the end, after many delays they sent me a letter informing that I don't meet their policies,bla bla. I dont understand why took them so long to decide. The story with Cs may sound SF to some but after reading some posts here I understood I am not alone. I went once to ask why I had not the card delivered yet and the clerk told me that I didnt requested one. I brought from home the request signed and the guy asked for work contract also. I brought the contract, he faxed it to Zurich or whatever but still nothing happened. Went to check again and the guy told me that the fax with my work contract didnt reach the destination. As if it was my fault Anyway with CS u have to pay for debit card also some yearly fee so I was happy with their reject in the end and I went to UBS. I think smaller banks are better to deal with but the shortcoming is that they have no web sites in English. Or higher costs. Just to finish with CS story - today I wanted to withdraw the money to put in UBS account as deposit for the card. I found my card blocked(the card that works only with their ATMs). It proved that they reset it caused they had some postal mails returned and considered my address wrong. I have no idea how that was possible as I received the card by post. Also all details for internet access - user, password, device,... . Moreover the day before I just received the letter with the refusal of issuing the credit card. Very frustrating. Working in IT makes it easy for me to imagine how poor their application must be designed and run. This added to the low qualification of the people. In smaller offices all clerks work together. They move from customer to customer as none of them can handle any request.I am talking about french customers also as for they had to gather together to express some sentences in English. Well .. the counselor in UBS didnt speak any English at all. ) Somehow I managed with my poor french as the pqapers she gave to sign were in English and contained my requests. I wonder if the card will arrive also. But we are expats and this is part of our "expat experience" isn't it ? And soem experiences are not that good. Thats why is useful to share them. I did share mine as I used a lot of information from this site myself and I hope everybody having something useful to say will do it. And this being my first post I want to add an "hello everybody" and last but not least
Merry Christmas !
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Old 14.01.2008, 02:17
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Re: UBS to introduce fees on cards for 1st year also

Ok, just a tip, please split up the story in paragraphs, makes it easier for people to read, and you are more likely to get a reply . And welcome to the forum! (When it is not so late I will read your post and try to reply)
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Old 26.01.2008, 20:54
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Re: UBS to introduce fees on cards for 1st year also

Hi, I do'not live in Swii but in another tax shelter ie, Luxemeburg. As far as I am aware, US and EU -bases tax shelter may have different kind of disputes and companies become victims.
From your thread, I would be very careful about cards. Mx luxemburg-based bank did have proposed me a debit one which works in Maestro-equipped shops. In others words, they are prtty scare even in Lux.
If I applied for a matercard or a visa, proposal will shift into a credit card, inclunding 1O% APR.....
Think about it !!
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Old 26.01.2008, 23:09
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Re: UBS to introduce fees on cards for 1st year also

I started off with UBS 8 years ago but moved to CS within a few months after they gave me the run around re: Credit card . I have not looked back since ....
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Old 27.01.2008, 16:46
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Re: UBS to introduce fees on cards for 1st year also

Grate to read that out !
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