Swissquote Closes Accounts of Russians Including Those with…
Swissquote is notifying Russian clients, including those with permanent residency in Switzerland, of account closures due to high monitoring costs and regulatory burdens related to Russia.
Consensus
- Swissquote is sending notifications about account closures to Russian clients.
- The closures include clients with permanent residency in Switzerland (category C residence permit).
- Clients with dual citizenship, including Swiss citizenship, are also receiving notifications.
- The bank's CEO, Mark Bürki, confirmed the account closures.
- The closures are due to increased monitoring requirements related to Russia.
- The bank cited high monitoring costs and low revenue from Russian clients as reasons for ending the relationships.
Coverage (2 sources)
- Swiss bank Swissquote sends notifications about closing accounts of Russians, including those with permanent residence — Радио Свобода
- Swiss bank Swissquote sends notifications about closing accounts of Russians, including those with permanent residence — Настоящее Время