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Old 16.09.2020, 11:15
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2000 CHF minimum on bank account?!

Hi,
I am an EU student staying in Switzerland on an L permit. I have a UBS account where I kept just over 3000 CHF and wanted to transfer 3000 CHF to someone else in CH. However, my transfer got rejected and, as I contacted my client adviser, she answered me that the reason why my transfer had not been executed was that L permit holders have to have at least 2000 CHF on their accounts. I looked up the Internet (both English and German) and found no further information about that, nor had I got any information about this requirement from UBS earlier. I already sent an e-mail to my client advisor with an inquiry, but wanted to also ask on the Forum if any of you have similar experiences or know the subject a little deeper than me? I'm on a tight student budget, so not having access to 2000 CHF is quite a tough issue for me

Thanks for all input!
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Old 16.09.2020, 11:36
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Re: 2000 CHF minimum on bank account?!

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Hi,
I am an EU student staying in Switzerland on an L permit. I have a UBS account where I kept just over 3000 CHF and wanted to transfer 3000 CHF to someone else in CH. However, my transfer got rejected and, as I contacted my client adviser, she answered me that the reason why my transfer had not been executed was that L permit holders have to have at least 2000 CHF on their accounts. I looked up the Internet (both English and German) and found no further information about that, nor had I got any information about this requirement from UBS earlier. I already sent an e-mail to my client advisor with an inquiry, but wanted to also ask on the Forum if any of you have similar experiences or know the subject a little deeper than me? I'm on a tight student budget, so not having access to 2000 CHF is quite a tough issue for me

Thanks for all input!
Move to post finance.
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Old 16.09.2020, 11:46
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Re: 2000 CHF minimum on bank account?!

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Move to post finance.
At long as aged under 30 and eligible for the student account, of course... otherwise there's better on a tight student budget.
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Old 16.09.2020, 12:06
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Re: 2000 CHF minimum on bank account?!

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Move to post finance.
Actually I thought about that as well - I guess that if I closed my current account and moved somewhere else, then they'd have to return to me the entire account balance, including the 2000 CHF
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Old 16.09.2020, 12:17
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Re: 2000 CHF minimum on bank account?!

Do you have a credit card with a 2000CHF limit?
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Old 16.09.2020, 12:30
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Re: 2000 CHF minimum on bank account?!

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Do you have a credit card with a 2000CHF limit?
No, with an L permit I can't even have a credit card (although I don't know if it's Swiss law or just another UBS rule), just debit cards are allowed
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Old 16.09.2020, 12:32
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Re: 2000 CHF minimum on bank account?!

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No, with an L permit I can't even have a credit card (although I don't know if it's Swiss law or just another UBS rule), just debit cards are allowed
Seems a bizarre rule then. I've heard of L permit holders having credit cards but having to block that amount in their regular account.
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Old 16.09.2020, 12:47
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Re: 2000 CHF minimum on bank account?!

Very unusual. In 2018 I've been told that credit cards are not allowed for L permit holders and they will block 200 CHF. Perhaps my client advisor has made a mistake?
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Old 16.09.2020, 12:55
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Re: 2000 CHF minimum on bank account?!

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Actually I thought about that as well - I guess that if I closed my current account and moved somewhere else, then they'd have to return to me the entire account balance, including the 2000 CHF
Neon and Zak are free. Don't know if they take L permit holders or not.
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Old 17.09.2020, 18:31
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Re: 2000 CHF minimum on bank account?!

Take the hint and close UBS account
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Old 17.09.2020, 18:46
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Re: 2000 CHF minimum on bank account?!

But make sure ou have another account first ...
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