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Deposit insurance

Your credit balances at Bank CIC (Switzerland) Ltd. are covered by the deposit insurance scheme. In the event of bankruptcy, this scheme protects your credit balances/deposits up to an amount of CHF 100,000 under the statutory provisions in force in Switzerland. If you are a customer with more than one account at Bank CIC (Switzerland) Ltd., your credit balances are added together for the purposes of the scheme. A maximum of CHF 100,000 of the total amount of deposits is protected. Deposits on a joint account are protected separately and independently of balances owned by individual account holders, up to a maximum total of CHF 100,000.

What credit balances are protected?

  • Credit balances in an official currency in accounts held in the name
    of the client (e.g. private account, current account, savings account, investment account, salary account, postal account, numbered account).
  • Credit balances in metal accounts (gold, silver, platinum and palladium), provided the client has the sole or contractual right to performance in an official currency.
  • Medium-term notes in an official currency held in the name of the bearer at the issuing bank.
  • Overnight deposits, term deposits and fixed deposits

Deposits in foreign official currencies are also covered in Switzerland by the deposit insurance scheme. The exchange rate into Swiss francs at the time bankruptcy proceedings commence is used to calculate the amount of protection. Amounts owing are generally paid out in Swiss francs.

What happens to my securities?

Securities in the form of equities, bonds, funds, certificates and so on belong to the client and are only held in custody by the Bank. If the bank goes bankrupt, they are released to clients and can be transferred to another custody account.

What sort of protection is there for vested benefit and pillar 3a balances if the bank goes bankrupt?

Credit balances on vested benefit and pillar 3a accounts (account solution) are not covered by the deposit insurance scheme. Under bankruptcy law, however, they enjoy preferential status as a second-class claim up to CHF 100,000. The preferential treatment of vested benefit and pillar 3a balances applies in addition to, and separately from, any other protected and preferential balances an individual pension saver holds with the bank (such as a savings account with the bank). Amounts owing from vested benefit and pillar 3a accounts will only be paid out during or at the end of the liquidation proceedings. The balance will be paid to the Savings 3 foundation.


Vested benefit and pillar 3a balances in the form of securities in custody accounts (securities solution) are not directly affected by the bank going bankrupt and are not covered by the deposit insurance scheme. The securities belong to the vested benefit or pillar 3a foundation and will be released to the Savings 3 foundation if the bank goes bankrupt. There is therefore no need for deposit insurance or preferential treatment under bankruptcy law.


Source: esisuisse.ch