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Shame on UBS!

Two weeks ago, UBS refused my money transfer to a Swiss association called Collectif Urgence Palestine (CUP). It wasn’t until I threatened my bank "advisor" with contacting the Swiss Banking ombudsman that she indicated that UBS has decided to follow a black list established by a non-banking entity. Irritated, she added that I just had to leave if I wasn't satisfied (!). There was no way I could get the info in writing or know anything else. A representative of the CUP explained to me that UBS is the only bank acting this way, blocking money transfers to Swiss associations whose name include the word "Palestine".


What gives UBS the right to decide what I can and cannot do with MY money?! I'm disgusted by their contempt and LACK OF TRANSPARENCY.


So, I'm going to move to another bank. Any advice?

The text you are quoting:

Two weeks ago, UBS refused my money transfer to a Swiss association called Collectif Urgence Palestine (CUP). It wasn’t until I threatened my bank "advisor" with contacting the Swiss Banking ombudsman that she indicated that UBS has decided to follow a black list established by a non-banking entity. Irritated, she added that I just had to leave if I wasn't satisfied (!). There was no way I could get the info in writing or know anything else. A representative of the CUP explained to me that UBS is the only bank acting this way, blocking money transfers to Swiss associations whose name include the word "Palestine".


What gives UBS the right to decide what I can and cannot do with MY money?! I'm disgusted by their contempt and LACK OF TRANSPARENCY.


So, I'm going to move to another bank. Any advice?


FLEUR GMay 2, 2016 @ 10:58
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Re: Shame on UBS!
Post 1

Two weeks ago, UBS refused my money transfer to a Swiss association called Collectif Urgence Palestine (CUP). It wasn’t until I threatened my bank "advisor" with contacting the Swiss Banking ombudsman that she indicated that UBS has decided to follow a black list established by a non-banking entity. Irritated, she added that I just had to leave if I wasn't satisfied (!). There was no way I could get the info in writing or know anything else. A representative of the CUP explained to me that UBS is the only bank acting this way, blocking money transfers to Swiss associations whose name include the word "Palestine".

What gives UBS the right to decide what I can and cannot do with MY money?! I'm disgusted by their contempt and LACK OF TRANSPARENCY.

So, I'm going to move to another bank. Any advice?


May 2, 16 10:58

Yes, definitely go to Raiffeisen. Only bank in the world [and we have lived all over in three Continents] where we have received excellent, constant, friendly service.

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Yes, definitely go to Raiffeisen. Only bank in the world [and we have lived all over in three Continents] where we have received excellent, constant, friendly service.


sheila c, May 2, 2016 @ 12:00
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Re: Shame on UBS!
Post 2

I had also some issues with UBS and I moved to PostFinance. Totally free, no hidden fees and so far no problem 

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I had also some issues with UBS and I moved to PostFinance. Totally free, no hidden fees and so far no problem 


Kris R, May 2, 2016 @ 12:38
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Post 3

UBS is not a public service. They just consider that there is a risk for them to be sued if they facilitate the transfer of money to terrorist organisations. Since some pro-palestinian organisations have ambiguous ties with terrorism (not saying yours has), they make it simple and just don't deal with them.


Basic money risk management... This is UB$.

The text you are quoting:

UBS is not a public service. They just consider that there is a risk for them to be sued if they facilitate the transfer of money to terrorist organisations. Since some pro-palestinian organisations have ambiguous ties with terrorism (not saying yours has), they make it simple and just don't deal with them.


Basic money risk management... This is UB$.


Casuistik, May 2, 2016 @ 13:15
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Re: Shame on UBS!
Post 4

Move to Post Finance, Fleur, if you have 7,500+ francs in your account there is no maintenance charge + get an additional card with Migros and you will not pay anything for any of your banking services :)



UBS is covering itself from risks. They are a big fish and can do whatever they please. Just like anybody rich and arrogant :)

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Move to Post Finance, Fleur, if you have 7,500+ francs in your account there is no maintenance charge + get an additional card with Migros and you will not pay anything for any of your banking services :)



UBS is covering itself from risks. They are a big fish and can do whatever they please. Just like anybody rich and arrogant :)


Olga K, May 2, 2016 @ 15:03
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Re: Shame on UBS!
Post 5

But Post Finance do not offer service in English :-(

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But Post Finance do not offer service in English :-(


Chap, May 2, 2016 @ 16:12
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Re: Shame on UBS!
Post 6

But Post Finance do not offer service in English :-(


May 2, 16 16:12

I think you will find they do

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I think you will find they do


sheila c, May 2, 2016 @ 16:27
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Post 7

As Casuistik said: it's just risk management. It's not personal, it's not politics, it's business. And since UBS is the biggest bank, they (usually) can't take the risks that other banks might be willing to take. 


Here's more perspective on the UBS decision:


https://moneyjihad.wordpress.com/tag/collectifs-urgence-palestine/

The text you are quoting:

As Casuistik said: it's just risk management. It's not personal, it's not politics, it's business. And since UBS is the biggest bank, they (usually) can't take the risks that other banks might be willing to take. 


Here's more perspective on the UBS decision:


https://moneyjihad.wordpress.com/tag/collectifs-urgence-palestine/


Nir Ofek, May 2, 2016 @ 16:46
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Post 8

Well I am no fan of ubs but I understand and somehow support their decision. Hamas is a terrorist group dedicated to the killing of innocent people both Israeli and palestinian and anyone doing anything that helps them is an accomplice. So shame?not so much.

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Well I am no fan of ubs but I understand and somehow support their decision. Hamas is a terrorist group dedicated to the killing of innocent people both Israeli and palestinian and anyone doing anything that helps them is an accomplice. So shame?not so much.


Gennaro S, May 2, 2016 @ 17:22
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Post 9

https://www.postfinance.ch/en.html


 


En = English

The text you are quoting:

https://www.postfinance.ch/en.html


 


En = English


sheila c, May 2, 2016 @ 17:36
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Post 10

I received some requests for Web links in MP. Here you go (in French only):


http://www.urgencepalestine.ch/Agenda/news.html


The project I want to support:


http://www.urgencepalestine.ch/Activites/projetAlSanabel.html#Sanabel


 

The text you are quoting:

I received some requests for Web links in MP. Here you go (in French only):


http://www.urgencepalestine.ch/Agenda/news.html


The project I want to support:


http://www.urgencepalestine.ch/Activites/projetAlSanabel.html#Sanabel


 


FLEUR G, May 2, 2016 @ 17:46
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Re: Shame on UBS!
Post 11

Fleur you should be commended for your actions and support of such a charity.  What a shame such a large financial institution chose to act in such a discriminating way.


I have worked in banking for 12 years and risk management is the most important thing to a bank these days, Sadly more important than customer service.  Unfortunately, legally banks have the right to refuse to do certain transfers or even close people's accounts just based on their country of residence with no proof of wrong doing.  Sadly I have seen this happen and it's legal as per their T&Cs.


i too will make a donation to your charity in support of doing the right thing :)

The text you are quoting:

Fleur you should be commended for your actions and support of such a charity.  What a shame such a large financial institution chose to act in such a discriminating way.


I have worked in banking for 12 years and risk management is the most important thing to a bank these days, Sadly more important than customer service.  Unfortunately, legally banks have the right to refuse to do certain transfers or even close people's accounts just based on their country of residence with no proof of wrong doing.  Sadly I have seen this happen and it's legal as per their T&Cs.


i too will make a donation to your charity in support of doing the right thing :)


Charlotte H, May 3, 2016 @ 08:06
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Post 12

It seems strange that they will help US citizens with tax evasion and avoidance, happily tx funds to israel - a country in breach of UN sanctions - and yet something with the word 'Palestine' has them running for their underwear drawer.


Like a lot of things here, customer service seems to take a back seat to the convenience of the supplier - just go somewhere else. I bank with Migros and my business goes through Post Finance. Both are excellent. 


Good on you for doing something.


 


 

The text you are quoting:

It seems strange that they will help US citizens with tax evasion and avoidance, happily tx funds to israel - a country in breach of UN sanctions - and yet something with the word 'Palestine' has them running for their underwear drawer.


Like a lot of things here, customer service seems to take a back seat to the convenience of the supplier - just go somewhere else. I bank with Migros and my business goes through Post Finance. Both are excellent. 


Good on you for doing something.


 


 


Max B, May 25, 2016 @ 09:25
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Re: Shame on UBS!
Post 13

Antisemitism make people distort reality. The "charity" you refer too might be sponsoring terrorism. Anyone helping Hamas sponsors the oppression of the palestinian people and the killing of innocent Israeli citizens, some of which are muslims.


UBS is a hideous bank, but for once they have done the right thing.


Israel is in breach of UN sanctions and is right about it, since UN sanctions and resolutions  are  endangering its very existence. I understand that the ideal of antisemites around the world would be for Israel to disappear. Unfortunately Israel has other plans. And many people support the right of Israel to a peaceful existence.


If you want to help palestinians, help them get rid of their incompetent, fundamentalist corrupt and murderous leadership.

The text you are quoting:

Antisemitism make people distort reality. The "charity" you refer too might be sponsoring terrorism. Anyone helping Hamas sponsors the oppression of the palestinian people and the killing of innocent Israeli citizens, some of which are muslims.


UBS is a hideous bank, but for once they have done the right thing.


Israel is in breach of UN sanctions and is right about it, since UN sanctions and resolutions  are  endangering its very existence. I understand that the ideal of antisemites around the world would be for Israel to disappear. Unfortunately Israel has other plans. And many people support the right of Israel to a peaceful existence.


If you want to help palestinians, help them get rid of their incompetent, fundamentalist corrupt and murderous leadership.


Gennaro S, May 27, 2016 @ 14:00
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Re: Shame on UBS!
Post 14

The words describing Palestine's leadership could also be applied to Israel's leadership. Both sides need to resolve this tragic situation and both sides have committed human rights abuses over the years. 

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The words describing Palestine's leadership could also be applied to Israel's leadership. Both sides need to resolve this tragic situation and both sides have committed human rights abuses over the years. 


delseta9_, May 31, 2016 @ 11:21
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Post 15

Both the Allies and nazi Germany have commited human rights abuses, does it mean that they should be perceived equally?

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Both the Allies and nazi Germany have commited human rights abuses, does it mean that they should be perceived equally?


Casuistik, May 31, 2016 @ 14:14
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Post 16

Both the Allies and nazi Germany have commited human rights abuses, does it mean that they should be perceived equally?


May 31, 16 14:14

Probably.........yes. Why not?

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Probably.........yes. Why not?


sheila c, May 31, 2016 @ 15:13
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Post 17

I mean "the Allies and Nazi Germany", not their abuses.


Basically, because both commited human rights abuses, you would consider that it would have been morally the same if the forces of the Axis had won the war?

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I mean "the Allies and Nazi Germany", not their abuses.


Basically, because both commited human rights abuses, you would consider that it would have been morally the same if the forces of the Axis had won the war?


Casuistik, May 31, 2016 @ 15:34
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Re: Shame on UBS!
Post 18

I mean "the Allies and Nazi Germany", not their abuses.

Basically, because both commited human rights abuses, you would consider that it would have been morally the same if the forces of the Axis had won the war?


May 31, 16 15:34

How can one possibly equate Nazi Germany and the Allies with Israel or Palestine? In any case this is very subjective. Both sides would probably equate the other side with being the Nazis.  

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How can one possibly equate Nazi Germany and the Allies with Israel or Palestine? In any case this is very subjective. Both sides would probably equate the other side with being the Nazis.  


delseta9_, May 31, 2016 @ 18:00
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Post 19

Nobody does! It's an analogy.


Neither Israel nor Palestine droped an atomic bomb on civilians, yet I don't see you being all upset because I'm allegedly equating either Israel or Palestine to the Allies.

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Nobody does! It's an analogy.


Neither Israel nor Palestine droped an atomic bomb on civilians, yet I don't see you being all upset because I'm allegedly equating either Israel or Palestine to the Allies.


Casuistik, May 31, 2016 @ 18:23
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