I don’t like the illegality of this example. As far as we know, UBS is operating as much within the law a most other businesses. Working as a client advisor is nothing illegal.
I may be participating in taking this topic in a direction that isn’t productive to the actual topic (banks closing accounts and the why of this specific one). My apologies.
Well yes, I think car sellers might be an equivalent…
Worst I’ve seen concerning bank advice:
- selling structured product BRC or alike knowing NOTHING but the story telling of “if X goes up you get that if it goes down you get Y” and neither the banker nor the customer has an idea about the underlying, the financial mechanisms, let alone the hidden fees…
- Explaining interest rates with macroeconomic analysis that were just random keywords without any sense.
Another story, a few years ago in France some banks had advised people earning EUR to get mortgage in CHF because of low interests. Collateral real estate in French EUR, income in French EUR, you’d imagine the catastrophe coming next, no one would even notice before they were forced to sell due to divorce or other life events (or even LTV warning coming from the very same bank). That’s how amateur it can be.
So yeah that’s at level of “DIESEL is the best way to save the planet now that’s so clean thanks to AdBlue” (c) Swiss high-end VW-group car seller.
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I would not count hospital as a shop, then I think there’s less chance I get kicked out of Migros without reason than from a bank. Of course I only have choice within their offer and they might as well poison their food or use a very specific product that takes control of my brain. But I don’t have to start a negotiation and beg for food or be overwhelmed with upselling each time I enter a transaction, feeling that it’s in my own interest to buy more if I want to come back again.
Although self checkout and frequent control start to feel like it’s going south…
Do you know who you’re replying to? 
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The banks must not alert the customers if any potential crime or investigations. So closing you account probably means that you are not profitable for them.
Good job, you truly are a mustachian 
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We can only speculate what’s actually going on here. Banks don’t just terminate unprofitable customers for the hell of it — with a mortgage (and an investment account) like OP has, it’s pretty much impossible for him to be unprofitable, unless the bank gave him an interest rate below their own refinancing costs, lol.
I remember when compliance hit me with an MROS report and all the accounts of one of my clients got completely frozen. Protocol says you’re not allowed to tell the customer under any circumstances why their payments aren’t going through and that they should just be patient. BTW it’s not easy at all when compliance takes 10 days and the customer is calling twice a day 
What I’m trying to say, OP: just forget this bank and start fresh somewhere else. There are still plenty of other banks in Switzerland that would take you with open arms — if you’re as reliable as you say here (no offense, I don’t know you personally). Yeah, resetting all your standing orders and payments is a bit of a pain, but you can knock that out in under an hour.
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Just a small reminder: Bitcoin doesn’t need any bank… one should have some… just in case this behavior spreads 
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And when they do, it tends to be en masse and typically shows up in the media.
My hypothesis is still that the original poster is not telling us something important (perhaps something he’s not aware of just yet).
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That‘s why my first post was all about being honest lol.
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There is absolutely anything that I am not mentioning, it I had the slightest idea why I was getting ditched like that, I wouldn’t complain here.
I have a problem with the way my bank of almost 20 years is handling me when there is 0 reasons for this. A phone call or a f2f meeting would have been the least they can do.
From the first google search it seems this is a ongoing and very common since the CS merge.
Most people „forget“ the situation they were in, once the bank offers attractive mortgage rates 
But I am with you. Continue with the next bank and do not hold an assets with UBS, just keep the liability there
I would be curious to know what actually happened if you ever get response.
I am wondering what benefit UBS have to close a bank account. It’s not like they lose money while keeping the account .
Of course. Banks of every country never, ever, make mistakes. Can only be the customer, obviously. 
No, I don’t.
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Could it be that you criticized our government on social media? Or maybe you accidentally clicked “Like” on the SVP, the wrong party?
These are just guesses.
Well let me introduce you to @Cortana, our well-known mustachian drug dealer on this forum.
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No, apart from Linkedin I have no other social media
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I have yet to be proven to that there’s actual government censure in Switzerland.
I’m also sure there are a number of prominent SVP members who are doing business with UBS, as there probably are many from the SP and probably most parties in Switzerland. UBS is a big bank.
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Sorry to hear that, you’re definitely not alone. Since the CS takeover, UBS has been quietly offboarding clients left and right to reduce their risk exposure, often with zero explanation. There are actually several articles about it if you search around.
My advice would be to not waste energy trying to fight their decision, once compliance makes a call they rarely reverse it.
First thing I’d do is open a new account asap. You don’t need to mention that UBS closed yours, just say you’re looking for better fees or a change. Cantonal banks (ZKB, BCV, etc.) or PostFinance are solid options, and if you want something quick to set up Neon or Zak work well too.
The 3rd pillar is usually the trickiest part to move. Personally I’d go straight to VIAC or Finpension, they’re honestly better and cheaper than UBS anyway, just ask them to initiate the transfer and they handle the rest.
One thing to watch out for is the deadline they gave you. If you miss it your funds can end up stuck in an internal technical account and it becomes a real headache to get them out.
Frustrating for a few days but it’s often a good opportunity to switch to banks with much lower fees. Good luck with it!
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