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Credit Suisse passes negative rates to affluent customers

Oct 21, 2019 - Marketline Newswire

Credit Suisse is set to charge clients with large cash deposits negative interest rates, becoming the latest Swiss bank to do so.

The wealth manager has decided to charge individual and business customers 0.75% for holding deposits of above CHF2m ($2.02m) at the bank. Customers holding more than CHF10m will be charged 0.85% annually. However, accounts with cash holdings of less than CHF2m will remain unaffected. The new rules will become effective on 15 November 2019 for business customers...