UBS Business Account Experiences

Dear forum,

Has anybody here got experience with business accounts from UBS?

Cheers

Hi there,

A complete cost breakdown of UBS business account fees and charges is available in the unbiased business account comparison on moneyland.ch. The costs of other Swiss business accounts are also available.

Best regards from Moneguru

More on this topic:
Business account comparison
UBS Business Current Account

Hello.

I would like your opinion on a situation I’ve encountered. Maybe someone here has had the same experience.

We have several business accounts at different banks, including a UBS business account with a Business Mastercard (5000-franc limit) since last summer. There were no special agreements for the credit card, just the standard T&Cs.

But last week I realized that UBS has frozen a part of the business account balance equal to the credit card’s line of credit. This amount is frozen regardless of whether or not we use the credit card.

UBS has frozen 5000 francs which we cannot withdraw or transfer, even though we have only used 300 francs of the line of credit so far.

According to their customer service this is typical for business accounts and applies from the time you order the credit card.

Somehow, I don’t find it ok with this, because the card is already more expensive that those offered by other card issuers (fees/interest rate, etc.), and it isn’t even a real credit card in this case because we to put down a “deposit” to get the line of credit.

What is your opinion on this?

P.s. We were never told that part of our business account balance would be frozen. I also haven’t been able to find anything about this in the accompanying documents.

It appears to be a secured credit card. The frozen portion of your bank account balance serves as collateral against your line of credit so the bank doesn’t lose money if you can’t pay your credit card bills.

For business credit cards, your business account balance generally plays a role. For example, you may only be able to increase your line of credit if your account balance is high enough. Each bank has its own rules for business credit cards and their connection to bank accounts.

If you want an unsecured credit card, take a look at the business credit cards offered by issuers which aren’t banks (Swisscard, Cornèrcard, Viseca, etc.).