Credit Suisse: Loans, Cards, and Services in Switzerland after the Merger with UBS

On March 19, 2023, UBS announced its acquisition of Credit Suisse. This event marked the end of one of Switzerland's largest banks and the beginning of a complex integration process. The legal merger of the two entities was completed on June 12, 2023, at the group level and on July 1, 2024, at the Swiss level. Credit Suisse clients are in the process of being transferred to UBS systems, an operation that will happen gradually and is expected to be completed in 2025. For clients, this means that the products and services they were accustomed to are now managed under the UBS umbrella, with a progressive unification of the offering.

What products and services did Credit Suisse offer?

Before the merger, Credit Suisse offered a comprehensive range of banking and financial services, which included: 

Private clients:

• Accounts and cards: Current accounts, savings accounts, and a wide choice of credit and debit cards.

• Mortgages: Financing for the purchase and renovation of properties.

• Pillar 3a: Solutions for Pillar 3a and 3b.

• Investments: Consulting services and investment funds for every risk profile. 

Corporate clients:

• Services for small and medium-sized enterprises (SMEs), including credit solutions and payment management.

• Services for large companies and institutional investors. 

Wealth management (Private Banking):

• Advisory and wealth management services for high-net-worth clients.

• Financial and succession planning.

What changes for Credit Suisse clients?

Currently, Credit Suisse products are managed by UBS but retain their functionality. For the time being, clients can still use their Credit Suisse accounts, cards, and services as usual. However, the merger will bring about some changes:

• Gradual integration: The transfer of clients to UBS systems is an ongoing process. Clients will receive direct and transparent communications from UBS on when and how the transition of their products will take place.

• Product offering: Credit Suisse's product offering will be gradually replaced or integrated by UBS's. For example, Credit Suisse investment funds will be integrated into UBS funds or equivalent products will be offered. The branch network has also been downsized, unifying the locations of the two banks.

• Digital services: Online and mobile banking services, such as Credit Suisse Direct, will also be unified, and clients will be redirected to UBS's digital systems.

Contact and support for Credit Suisse clients

For any questions or needs, Credit Suisse clients should now refer to UBS's support channels and locations. Credit Suisse's webpages redirect to the UBS website, which provides all the necessary information and contacts for clients of both banks. For more details on specific products and services, or for information on the integration of your banking relationship, it is advisable to consult the section dedicated to the Credit Suisse acquisition on the official UBS website or to contact UBS's customer service.