Hi folks, just got this from UBS, I thought you may want to know.
P.S.: for private customers it applies from 250k + some other assets, but I doubt any good mustachian here has that amount sitting in cash
The conditions on the money and capital markets remain challenging. Account balances in Swiss
francs and euros have received little or no interest for quite some time now. We expect this
period of low interest rates to continue for some time. It is becoming increasingly difficult
for banks to absorb the economic consequences of negative interest rates.
Banks therefore have started passing on the negative interest rates to their clients some time
ago. We too can no longer escape this development and because of the extraordinary interest
rate situation find ourselves compelled to introduce deposit charges for balances over certain
thresholds from 1 July 2021. Details about these conditions can be found in the supplementary
sheet “Deposit charges”. All other conditions remain unchanged.