Swissquote Warns 600 Russian Clients of Account Closure
Approximately 600 Russian clients of Swiss banks Swissquote and Yuh received notifications regarding the possible closure of their accounts.
Consensus
- Swissquote and Yuh began sending notifications to Russian citizens about possible account closures.
- Approximately 600 clients were notified, mostly users of the Yuh app.
- The bank has not yet closed any accounts, but is contacting clients to find solutions.
- The decision is described as being driven by economic factors, not political ones.
- The bank claims it has few Russian clients and that the practice is not systematic.
- Clients with permanent residency (category C) in Switzerland and dual citizenship were among those notified.
- The bank is reviewing cases involving dual citizens, with some decisions possibly made in error.
- No further account closures beyond the 600 are planned.
Points of divergence
- The bank's CEO stated that the notifications were sent due to 'exclusively economic' reasons, including high monitoring costs and low revenue from Yuh clients. — mediazona
- The CEO stated that account closures occur only in 'special situations,' such as clients being on sanction lists or having economic ties to Russia. — m24
- A client reported that the closures affected tax residents of Switzerland with 'completely clean reputations' and dual citizens with Swiss passports, and that the bank's staff confirmed the decision was based on Russian citizenship. — vm
- The number of affected accounts is reported as 'around 600' by Inside Paradeplatz, with no additional details provided. — tg_tass_agency
Coverage (4 sources)
- About 600 Russian clients of Swiss banks Swissquote and Yuh received notifications about possible account closures — Медиазона
- Swiss bank began warning Russians about closing their accounts — Москва 24
- Inside Paradeplatz: Swiss online bank Swissquote began closing accounts of Russians — Вечерняя Москва
- Swiss bank Swissquote began closing accounts of Russians. This measure could have affected about 600 accounts, reported the portal... — ТАСС (Telegram)