In the event of a Swiss bank going bankrupt, deposits held by foreign branches of this bank are also given preferential status. However, deposits held at these foreign branches are not guaranteed by the depositor protection scheme. The depositor protection scheme only covers deposits held at branches in Switzerland.
About the depositor protection scheme
The Swiss Banking Act of 2005 stipulates that all Swiss branches of banks and securities dealers must have their preferential deposits protected by esisuisse. If a bank or securities dealer in Switzerland becomes insolvent, the other members of esisuisse will immediately provide the required funds. This collective scheme ensures that the clients of such an insolvent bank have their protected deposits paid out to them within one month. Deposits totalling no more than CHF 100 000 per depositor are protected. The banks receive reimbursement of their contributions at a later date when the insolvent bank is liquidated.
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